Small Cap Feast

Small Cap Feast – 06 August 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 887

Total number of AIM Companies trading: 884*
* As at 26 July 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 86*

Total number of NEX Growth Market Companies trading: 84*
* As at 26 July 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at 26 July 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?

NEX

Freyherr International Group PLC the Medicinal Cannabis holding company established in 2016,  is planning to list on the NEX exchange on the 13 August.

 

Breakfast Buffet

Crossword Cybersecurity* (CCS.L) 505.00p £23.64m

Crossword Cybersecurity, a technology transfer company focusing exclusively on the cyber security sector,  has today announced that Stevenage Borough Council, Peterborough City Council and East Hertfordshire District Council will use Rizikon Assurance to manage compliance with the GDPR (General Data Protection Regulation) with their suppliers and for wider information governance.

GDPR makes many requirements of organisations, including taking adequate steps to ensure data is both encrypted and anonymised, so that in the event of a breach, the data cannot be exploited.  Infringements under GDPR can lead to fines of €20m, or 4% of annual global turnover for an organisation.

Rizikon has been securing footholds with clients across multiple sectors this year, namely food production, engineering/nuclear, healthcare/regulatory and now local government.

Using Rizikon Assurance, the Councils will improve the process and accuracy of securing third party assurance. This will support compliance with GDPR, and establish a way to manage on-going assurance checks when needed at regular intervals.

 

Verona Pharma (VRP.L) 47.30p £50.56m

Verona Pharma,  a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for respiratory diseases, announced financial results for the three months and six months ended June 30, 2019.

Net cash, cash equivalents and short term investments at June 30, 2019, amounted to £46.5m (December 31, 2018: £64.7m). For the six months ended June 30, 2019, there was a reported operating loss of £19.8m (six months ended June 30, 2018: £11.5m) and reported loss after tax of £14.4m (six months ended June 30, 2018: £14.6m). Operating expenses increased from £11.5m to £19.8m due primarily to development activities with ensifentrine.

There was a reported loss per share of 13.7 pence for the six months ended June 30, 2019 (six months ended June 30, 2018: 13.9 pence). Net cash used in operating activities for the six months ended June 30, 2019 was £18.1m (six months ended June 30, 2018: £12.3m). The increase in cash used was due to pre-clinical and clinical studies with ensifentrine and other working capital movements.

 

Alien Metals (UFO.L) 0.11p £1.39m

Alien Metals Limited, the mining exploration and development company, announced an exploration update for its wholly owned Donovan 2, Los Campos and San Celso concessions in Zacatecas State, Mexico.

Sampling programmes have been completed at Donovan 2, Los Campos and San Celso, with 98 surface samples being taken across the three projects. The samples have been sent to ALS Chemex de Mexico Laboratory for analysis.

Since the recomposition of the Board and company name change in 2018, Alien has focused on delivering its strategy of acquiring mining projects which demonstrate significant development upside, in jurisdictions with established infrastructure and mining codes, and where strong operational controls can be assured.

In addition to progressing its acquisition-led strategy, following the strategic review of its portfolio of projects in Mexico during 2018-19, the Company has identified exploration targets across its 12 mining concessions in Zacatecas, Mexico, which it is working to advance systematically.

 

Tiziana Life Sciences (TILS.L) 56.50p £80.51m

Tiziana Life Sciences, a U.S. and U.K. biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology, today announced the commencement of an underwritten public offering in the United States of American Depositary Shares, representing ordinary shares of nominal value £0.03 each in the capital of the Company on the NASDAQ Global Market. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The price for the Offering has not yet been determined.

  A registration statement relating to these securities has been filed with the SEC but has not yet become effective.

 

Tekcapital (TEK.L) 6.90p £4.40m

Tekcapital, the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, announced that its portfolio company Belluscura plc has raised £750,000 of additional funding.  The funds will be used to complete regulatory clearance and launch its innovative X-PLOR portable oxygen concentrator. This brings the total amount raised by Belluscura in 2019 to £2.15m.

According to the Company, the X-PLOR is designed to replace metal oxygen tanks and heavier devices. Weighing only 1.4kg, X-PLOR is 33% lighter and research suggests can provide 37% more oxygen per kg than leading competitors. Belluscura has exclusively licensed, acquired or filed 13 patents and applications in the field of concentrated oxygen generation and has a robust pipeline with additional oxygen enrichment products planned for release in 2020.

 

88 Energy (88E.L) 0.93p £63.32m

88 Energy, an Australia based company engaged in the energy sector, provided an update related to the farmout process for its conventional prospect portfolio at Project Icewine, located on the Central North Slope, Alaska.

An exclusivity agreement was executed by 88 Energy and Burgundy Xploration (the JV Parties), with the preferred bidder to facilitate near term operational activity whilst final terms are agreed on the proposed farmout agreement.

Exclusivity has been granted by the JV Parties until 31st August 2019, with customary exclusivity undertakings.

A US$500,000 payment has been paid by the preferred bidder to the JV Parties to facilitate incurring of initial agreed costs associated with the 2020 drilling program.

The fee is non-refundable unless the farmout agreement is not finalised owing to an act or omission of the JV Parties.

 

Anexo Group (ANX.L) 194.50p £194.15m

Anexo Group,  the specialist integrated credit hire and legal services provider, today provided the following Trading Update in respect of the year ending 31 December 2019 .

The Group has recently successfully renegotiated its working capital facilities and has secured considerable improvement in its financing arrangements from both new and existing providers.  The Group has also agreed new terms with its existing fleet insurance provider which are expected to deliver enhanced savings against the Group’s original forecasts for the remainder of FY-2019 and for FY-2020.  These achievements highlight the growing strength of the Group’s negotiating position as well as the quality of the systems in place to mitigate risk.  Furthermore, the targeting of specific claims types from the impecunious market place has allowed the Group to deploy capital into the most valuable claims, enhancing its average claim statistics and underlying profitability.

 

Walker Greenbank (WGB.L) 86.00p £62.11m

Walker Greenbank, the luxury interior furnishings group, announced its pre-close trading update for the six months ended 31 July 2019. Whilst trading conditions continue to be challenging, performance in the half year was in line with the Board’s expectations.

Total brand sales in the half year were up 0.4 per cent in reportable currency (down 0.7 per cent in constant currency) compared with the first half last year.

Brand sales in the UK, the Company’s largest market, accounting for approximately 52 per cent of total brand sales, were down 3.1 per cent whilst international brand sales were up 4.4 per cent in reportable currency (up 2.0 per cent in constant currency). The international performance reflects a temporary change in the US operating model relating to the distribution of the Clarke & Clarke and Studio G brands in that revenue was recorded on an agency basis rather than on a distribution basis.

 

Jadestone Energy (JSE.L) 55.75p £262.79m

Jadestone Energy, an independent oil and gas production company focused on the Asia Pacific region, announced that its safety case for the Montara oil project, offshore Australia, has now been accepted by Australia’s National Offshore Petroleum Safety and Environmental Management Authority.

Acceptance of the safety case was the last remaining requirement before Montara operatorship could be transferred from the seller to Jadestone. 

 

Bigblu Broadband (BBB.L) 114.50p £64.20m

Bigblu Broadband, a leading provider of alternative super-fast broadband services, announced that QCL Holdings, a subsidiary of BBB and new holding company for Quickline Communications Limited, has secured  £12m of new equity and debt funding to support the build-out of its fibre backed fixed wireless network business across the UK.

This £12m funding allows Quickline to significantly increase the size and scale of its fixed wireless access business to target a customer base of approximately 30,000 subscribers over the next three years.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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