Small Cap Feast

Small Cap Feast – 04 October 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 878

Total number of AIM Companies trading: 796*
* As at 30 September 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 88*

Total number of NEX Growth Market Companies trading: 86*
* As at 30 September 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 165*

Total number of Standard List Companies trading: 143*
* As at 30 September 2019

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

Main Market Standard
Kaspi.kz, the largest Payments, Marketplace and Fintech Ecosystem in Kazakhstan with a leading market share in each of its key products and services. GDR offering expected Oct 2019. In the first half of 2019, the Company generated total revenue of KZT226,862m (U.S. $598m), up 34% and net income of KZT77,001m (U.S. $203m), up 54%.
Main Market premium
Registration document approved for Helios Towers. The Group provides essential network services, flexible infrastructure solutions and reliable power supply to mobile network operators in five African growth economies. Revenue increased 7 per cent. year-on-year to US$191m (H1 2018: US$178m), with Adjusted EBITDA up 15 per cent. year-on-year at US$99m (H1 2018: US$86m) for the six months ended 30 June 2019. Pricing rumoured at 115p to 145p implying valuation of up to $1.8bn

Breakfast Buffet

Treatt (TET.L) 405p £239

“The manufacturer and supplier of innovative ingredient solutions for the flavour, fragrance, beverage and consumer product industries today publishes a trading update for the year ended 30 September 2019.
The Board is pleased to c o n f i r m t h a t , notwithstanding a very significant fall in certain key citrus raw material prices, and some foreign exchange headwinds, the Group has performed well in the second half of the f i n a n c i a l y e a r . Consequently, the Board expects to report profit before tax and exceptional items for the year ended 30 September 2019 in line with its expectations.
Revenue for the year is e x p e c t e d t o b e approximately £112.7m, an increase of 1% (or decrease of 2% in constant currency) compared with the prior year. As reported in May 2019, revenue for the year has been impacted by a substantial fall in citrus raw material input prices, with orange oil (which represents approximately 33% of Group revenue) prices falling by more than 50% over the year and lemon oil prices also seeing s u b s t a n t i a l p r i c e weakness. “

Columbus Energy (CERP.L) 4.2p £35

The oil and gas producer and explorer with operations onshore Trinidad, is pleased to announce the signature of a Production Sharing Contract with Staatsolie Maatschappij Suriname N.V (“Staatsolie”) for the Weg Naar Zee Block, onshore Suriname.
Highlights
· Onshore block with a discovered resource of 24mmbbl (STOIIP) in a proven hydrocarbon province.
· Large block ( 9 0 0 k m ² ) w i t h exploration potential.
· No signature bonus or upfront consideration.
· Company can control timing of appraisal/ development work. Phase 1 Exploration Period (3 years) consists of G&G studies and 2 Extended Well Tests.
· Suitable for application of Enhanced Oil Recovery techniques used by Columbus in Trinidad.
· Complimentary to existing operations and onstrategy.

Beowulf M i n i n g (BEM.L) 6.375p £37.5m

The update on its application for an Exploitation Concession for the Kallak North iron ore project (“Kallak”).
CEO’s Letter to the Minister of Enterprise and Innovation
The Company has received a response to the letter sent by the CEO to Mr Ibrahim Baylan, Minister for Enterprise and Innovation, The Government of Sweden. The Minister has explained that since the CEO’s request for a meeting “concerns a f o r t h c o m i n g Government decision – a dossier that is currently under preparation”, the Government is unable to meet or comment with regard to its “ongoing review”.
“The legal analysis is unequivocal, that the Company has robustly argued its case for a Concession to be awarded. “

Angle (AGL.L) 78.5p £135.6m

The Queen Mary University of London (QMUL) European patent covering the measurement of the n u m b e r o f megakaryocytes in a patient blood sample as an assessment of the prognosis for prostate cancer has been granted.
ANGLE has an option agreement, exercisable up until 14 June 2021, with QMUL for an exclusive worldwide licence over the use of its megakaryocyte intellectual property. The grant of the European patent protects the Company’s ability to offer a megakaryocyte-based test in Europe. Similar patents are being pursued in the United States and certain other major territories.
QMUL published research in Clinical Cancer Research in 2017 using ANGLE’s Parsortix® system showing that the number of megakaryocyte cells in the blood of prostate cancer patients correlates closely with increased patient survival. This was the first time the presence of these cells in patient blood has been shown to be connected to cancer prognosis and to date no competing system has published success in this area.

Sureserve (SUR.L) 29p £46m

The Compliance and Energy Support Services Group, announced an FY Sep 19 trading update
The demand for the Group’s services continue to be strong, on the back of its reputation for the delivery of quality services and market leading positions in the highly regulated public sector gas maintenance and energy management sectors.
Both operational and financial performances have been strong in the second half of the year and the Board is pleased to confirm that the pre-tax profits for the year just ended will meet management’s expectations.
Michael McMahon, the Chief Operating Officer, has advised that he has decided to resign for personal reasons and Bob Holt will fulfil Michael’s role during this interim period whilst the Board structure is reviewed.

SRT Marine (SRT.L) 39.6p £61.3m

“SRT, the global provider of maritime surveillance, monitoring and management systems, is pleased to provide a trading update for the six months trading period ended 30th September 2019.
Revenues during the first half increased year on year by 10% from £3.2m to £3.5m, generating a forecast half year loss before tax of £1.5m compared to £1.3m for the same period last y e a r . A s a t 30th September 2019, the Company had £1.7m of cash. During the period, and as expected, the Company has received all expected cash payments in respect of its systems business f r o m p r e v i o u s l y completed milestones and purchased and paid for significant quantities of equipment required to complete scheduled p r o j e c t d e l i v e r y milestones during the second half of the year. “

Coro Energy (CORO.L) 2.925p £23.1m

“The Southeast Asian focused upstream oil and gas company, is pleased to provide an operational update in relation to the drilling campaign in the Duyung Production Sharing Contract (“PSC”) in the West Natuna basin, offshore Indonesia, in which Coro holds a 15% interest. As previously reported, the drilling rig Asian Endeavour 1 was mobilised from Singapore on 24th September 2019 and has been on location since Monday 30th September. P r e – l o a d i n g o f equipment and supplies for the two well programme has now completed and drilling of the Tambak-2 well has c o m m e n c e d . ” A n independent review by Gaffney Cline & Associates ascribed gross 2C resources of 276 Bcf (48.78 MMboe) of recoverable dry gas in the Mako field with gross 3C resources of 392 Bcf (69.3 MMboe) representing additional field upside

Audioboom (BOOM.L) 157.55p £22.06

The leading global podcast company, announced two new shows at the Interactive Advertising Bureau’s first Podcast Upfronts event on 3 October 2019.
The Podcast Upfronts is the newest addition to the IAB’s Digital Upfronts week, which brings together major brands within the podcasting industry to inform, inspire, and educate the advertising community.
Audioboom’s Senior Vice President of Global Sales & Development, Thomas Mancusi and UK Head of Content, Mike Newman represented Audioboom at Shoreditch Town Hall where the new shows were announced.

Big Sofa Tech (BST.L) 4.35p £8.1m

The international video analytics provider to the c o n s u m e r i n s i g h t industry, announces a new agreement with two divisions of Ipsos for an annu al mini mu m purchase commitment totalling $300,000.
This initial 12-month m i n i m u m p u r c h a s e commitment will grant the Ipsos companies access to Big Sofa Technologies’ proprietary platform and core technical services on a fully integrated basis.

Blackbird (BIRD.L) 12.4p £36.6m

The developer and seller of the market-leading cloud video platform Blackbird, announces that Jim Irving, a non-executive director of the Company, will step down from the Board on 22 November 2019 to focus on other business interests.

Head Chef:

Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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