Small Cap Feast

Small Cap Feast – 08 April 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 898

Total number of AIM Companies trading: 827*
* As at 03 May 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 89*

Total number of NEX Growth Market Companies trading: 87*
* As at 03 May 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 161*

Total number of Standard List Companies trading: 141*
* As at 03 May 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 (Premium)

Jewel UK Midco Limited, the parent company of The Watches of Switzerland Group Limited, is looking to join the premium segment of the main market. Offer TBC, expect TBC

Finablr plc— global platform which provides Cross-Border Payments and Consumer Solutions, Consumer Foreign Exchange Solutions and B2B and Payment Technology Solutions to consumers and businesses in the large and growing payments and foreign exchange market is looking to list on the Main Market plans to raise $200m, expected May 2019

Main Market (Standard)

IMC Exploration Group (NEX: IMCP), focused on acquiring and exploring prospecting licence areas which have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. Expected 11 June 2019

AIM

Induction Healthcare Group plc—a healthcare technology company focused on streamlining the delivery of care by Healthcare Professionals looking to join AIM. Expected raise of £14.58m at 115p, market cap of £34.07m. Expected 22 May 2019.

SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m

Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019.

Distribution Finance Capital Holdings plc — specialist lender which builds relationships with manufacturers and then provides working capital solutions up and down their supply chains to drive their growth is looking to join AIM. No raise, secondary offering of £19.8m at 90p, expected market cap of £95.98m. Expected 09 May 2019.

Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019

NEX Exchange

Arbuthnot Banking Group plc, primarily involved in banking and financial services including commercial banking, private banking, wealth planning and investment management, is looking to joining the NEX Exchange Growth Market. Expected 17 May 2019

Breakfast Buffet

Smartspace Software (SMRT.L) 86p £19.06m

The provider of ‘Integrated Space Management Software’ for smart buildings, commercial spaces and hospitality, announced its unaudited final results for FYJan19

Revenue from continuing operations up 2.8% to £6.3m

Adjusted LBITDA £2.66m (FY18: EBITDA: £0.2m)

Loss before tax from continuing operations of £4.2m (FY18: loss £0.7m)

Profit from disposal of subsidiaries £2.95m

Net cash position at 31 Jan 2019 £7.6m (FY18: £1.2m)

“Our plan in the coming year is to continue to invest into sales and marketing to enterprise and mid-market companies to maximise the opportunity we see for workplace technology, both in the UK and overseas. This sales and marketing effort will also include further development of channel sales opportunities. During the coming year we expect to see increased sales from partners, in particular via Evoko, who operate through 400 resellers and distributors across the globe.”

 

Reneuron (RENE.L) 283.5p £97.52m

The specialist  in the development of cell-based therapeutics, announced a year-end business update ahead of its preliminary results for the year ended 31 Mar 2019, which will be announced on 11 July 2019.

Significant progress advancing the clinical development of the Company’s human retinal progenitor cell (hRPC) therapy candidate in the blindness-causing disease, retinitis pigmentosa (RP).  Most recently, on 26 April 2019, the Company reported positive preliminary data in the first cohort of the Phase 2a part of its study of hRPC in RP.

Continuing to progress the clinical development of its CTX cell therapy candidate for stroke disability. In Jan 2019, the Company announced that patient dosing had commenced in PISCES III, a randomised, placebo-controlled, Phase 2b clinical trial in 110 patients at up to 40 clinical trial sites in the US.

Financial results for the year ended 31 Mar 2019 remain in line with the Board’s previous expectations. The Company had unaudited cash, cash equivalents and bank deposits totalling £26.39m 

 

MaxCyte (MXCT.L) 177p £103.4m

 MaxCyte Progresses Phase I Clinical Trial of Lead mRNA-based Cell Therapy from its CARMA™ Platform

No dose-limiting toxicities or safety concerns observed in first cohort of treated patients

Feasibility of streamlined, faster CAR therapy manufacturing process confirmed

Dosing initiated in second cohort of patients

“We are very excited about the potential of MCY-M11 as a new, effective therapeutic in solid tumours where the majority of patients still have very limited treatment options.”

The manufacturing process for MCY-M11 utilizes MaxCyte’s proprietary Flow Electroporation® technology to transfect mRNA into fresh (i.e., unexpanded) peripheral blood mononuclear cells (PBMCs). This streamlined, faster manufacturing process for an autologous cell therapy is an important differentiator from other CAR technologies

 

Cello Health (CLL.L) 132.5p £138.3m

AGM statement from the global healthcare-focused advisory Group.

The Group has had a very good start to the year. For the first quarter, the Group has experienced good like-for-like net revenue and headline PBT growth. We are also confident regarding performance in the second quarter, and expect to report robust headline profit before tax growth for the first half of the year.

“At a segment operating level, Cello Health has had an excellent first quarter. In particular, the performances in our consulting businesses and in the US overall are notable. We expect the second quarter to continue this trend.

“Cello Signal has also made a solid start to the year in line with expectations.

“The Group’s balance sheet remains strong, with better than expected cash conversion so far in 2019, continuing the strong cash conversion performance delivered in 2018. The Group continues to assess suitable acquisitive growth opportunities in the US.

The Board is therefore confident of achieving a successful full year result in 2019, in line with expectations.”

 

Johnson Services (JSG.L) 149p £549.63m

The leading UK textile services provider, will be holding its AGM today and Chairman, Bill Shannon, will make the following statement:

Following a year of continued growth, the performance of both the Workwear and HORECA Divisions has continued to meet management forecasts. Accordingly, we expect the full year results to be in line with current market expectations.

“The development of the new Leeds high volume linen facility, which will deliver considerable logistical benefits and increased capacity for our business in Northern England, is proceeding to plan and remains on course for coming on stream in the spring of 2020.”

 

Altus Strategies (ALS.L) 4.25p £7.38m

The Africa focused project and royalty generator, announced that on 07 May 2019 it signed a Variation and Accession Deed  with Resolute Mining Ltd in respect of the joint venture on the Company’s 106km2 Pitiangoma Est project  in southern Mali. T he Project is located approximately 15km south of the Tabakoroni mine and 40km south of the Syama gold mine, both owned and operated by Resolute.

JV with Resolute in southern Mali extended by two years to May 2021

Resolute to earn an initial 70% interest by funding $3m in exploration and by completing a feasibility study

Altus retains option to co-fund its 30% interest on a pro rata basis or exchange its interest for a 2% Net Smelter Return royalty

Drilling by Resolute is currently underway at the Pitiangoma Est project

 

Online Blockchain (OBC.L) 20.5p £1.73m

As previously announced, Online Blockchain, a UK blockchain company, has been developing new blockchain-based products and in April 2019 announced the launch of “invite-only” beta testing for FreeLoadr, a PC gaming product. The Company has launched today the beta testing of an additional product, FreeFaucet (www.freefaucet.io), which enables users to obtain established and emerging cryptocurrencies for free. Users’ cryptocurrencies can then be stored on the FreeFaucet multi-coin wallet.

Shareholders should note that the development of FreeFaucet is in early beta testing stage of development and launch, and further updates will be provided in due course.

 

PCI-PAL (PCIP.L) 20.5p £8.30m

The secure payments provider to contact centres, announces that it has now deployed live customer cloud services on all of its Amazon Web Services (“AWS”) instances, including beyond its core markets of the U.K. and U.S. These new additional AWS instances are located in Canada, Australia, and Germany.

With 100% cloud provisioning and no hardware requirements, customer deployments in any country or region are not only practical to deliver but also cost-effective for both our partners and customers alike. No on-site deployment services are required as all technical and professional services can be performed remotely. This is of particular value to an increasing number of our partners who prefer to project manage customer deployments themselves.

 

NQ Minerals (NEX:NQMI) 5p £16.2m

April 2019 and Year to Date (YTD) production results from its flagship Hellyer Mine  located in Tasmania.  All numbers in Dry Metric Tonnes.

Lead Concentrate

Apr 2,145 Q1 4,712 YTD 6,857

Zinc Concentrate

Apr 1,748 Q1 3,015 YTD 4,763

Pyrite Concentrate

Apr 10,901 Q1 18,488 YTD 29,389

The month of April has been a record month for production and sales. Operational efficiencies continue to be realised with month over month improvements in dredged and milled tonnes.

 

EMIS Group (EMIS.L) 1,154p £730m

AGM Statement. “The Board of EMIS Group, the UK leader in connected healthcare software and services, announced that trading for the year to date is in line with the Board’s expectations. As reported on 20 March 2019 at the time of its 2018 Full Year Results, the Group continues to have market-leading positions, high levels of recurring revenue and remains in a strong financial position.”

Highlights the recent disposal of the non-core Specialist & Care business representing an important step towards focusing the Group on its medium-term growth plan. To support the realigned business, the Group is deploying improved internal systems, which are expected to drive greater efficiencies during 2019 and beyond.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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