Small Cap Feast

Small Cap Feast – 08 February 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 914

Total number of AIM Companies trading: 844*
* As at 05 February 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 05 February 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 145*

Total number of Standard List Companies trading: 128*
* As at 05 February 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?

AIM

United Oil & Gas (UOG.L) an oil and gas exploration and development company brought to the Official List (Standard Segment) in July 2017 by way of a reverse takeover of Senterra Energy plc. No capital to be raised, expected market cap of £17m and expected 28 Feb

Techniplas –global  producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient.  FYDec17 rev $515m.

 

Breakfast Buffet

Integumen* (SKIN.L) 0.84p £3.71m

Integumen announced the roll-out of Labskin AI, a cloud-based digital life science, automation management tool.

Labskin AI is an integrated ‘laboratory to market’ collaboration and partnership management services platform. The digital automation workflow tools are an extension to the physical Labskin laboratory grown human skin-testing services for the cosmetics, wound care, health care, personal care and pharma industries.

Clients of Labskin AI can access both the digital and physical end to end clinical test automation services. Internet of Things (IoT) and artificially intelligent data analytics open a global network of IoT enabled service providers and their clinical test laboratory equipment to small, medium and large buyers of these services who subscribe to Labskin AI. 

 

Mporium (MPM.L) 5.25p £31.69m

“The technology firm delivering event-driven marketing, announced a commercial agreement for its performance-led trading division MporiumX with a leading global sports media business.

This new direct-to-brand agreement represents a major milestone for the recently launched MporiumX division. Under the agreement, sporting events will be used to drive subscriptions for online sports streaming through the deployment of IMPACT Sports Syncing technology. IMPACT will use these events to deliver dynamic campaigns that are contextually relevant to the target audience, providing far greater engagement and scale than is generated by traditional static campaigns.”

 

Modern Water (MWG.L) 7p £8.86m

The owner of leading technologies for water and wastewater treatment and the monitoring of water quality, announced, H.M Government of Gibraltar has submitted an application for planning permission to build Gibraltar’s first wastewater treatment plant. Modern Water Services Ltd carried out the preparatory works necessary for today’s submission to the government’s Department of Town Planning, collaborating with its joint venture partner NWG Commercial Services Ltd .

Obtaining planning permission marks the final step before the joint venture enters into an agreement with H.M. Government of Gibraltar whereupon work can commence on the overall project. Modern Water will be carrying out the design and build works on behalf of the joint venture, the cost of which is estimated in the planning application at £25m.

 

EU Supply (EUSP.L) 10.75p £7.71m

“The e-procurement software provider, announces a trading update ahead of the release of its audited final results for the year ended 31 Dec 2018, which are expected to be released in Apr 2019. All of the figures included in this announcement are subject to audit.

The Board expects that revenue will grow by approximately 10% for the year ended 31 Dec 2018 (10% at constant currency) to approximately £5.1m, being slightly below market expectations (2017: £4.7m adjusted for IFRS15). Approximately 70% of this is expected to be of a recurring or repeated nature (2017: 66%). 

A maiden PBT of £0.4m is expected, being materially above market expectations (2017: loss of £0.2m).”

 

Vast Resources (VAST.L) 0.17p £10.24m

The “mining company with operations in Romania and Zimbabwe, announced the appointment of Mr. Paul Fletcher as CFO with immediate effect.  Paul will assume the day-to-day financial management duties of Mr. Carl Kindinger, who is stepping down from the role.

Paul, a Chartered Accountant and Fellow of the Association of Corporate Treasurers, joins Vast following 25 years working in the commodity and financial services industries.  He has held a variety of senior international finance and operational roles in trading, processing, and financial businesses in the US, Europe, and Asia, most recently with Bunge, the US agribusiness and food company, as Global CFO & Controller of Bunge Financial Services, a Bunge group business unit providing financing and risk management solutions, and as Treasury and Trading Product Line Controller.”

 

Polemos (PLMO.L) SUSPENDED

Acquisition of Digitalbox Publishing, a digital media business Digitalbox Publishing, for a total consideration of approximately £10m, to be satisfied in shares.

For the year ended 31 Dec 2017, DBP generated revenues of £2.3m and profit before tax of £508k.

Acquisition of Mashed Productions, a digital media business which owns the online satirical news website “The Daily Mash”, for a maximum total consideration of £1.2m, to be satisfied on completion by the issue of 1,428,571 New Ordinary Shares and payment of up to £1m in cash.

For the year ended 31 Mar 2018, MP generated revenues of £0.39m and a PBT of £0.135m.

A conditional placing and subscription to raise £1.02m at 14p.

The Board is proposing to change the name of the Company to “Digitalbox plc”.

 

Hardide (HDD.L) 1.6p £29.72m

Proposed Fundraising to raise approximately £3.6m at 1.5p. Hardide proposes to undertake a share capital consolidation such that every 40 Ordinary Shares in issue will be consolidated into 1 New Ordinary Share. Subject inter-alia to AGM 4 Mar.

The Company plans to invest in a new UK facility to replace its existing site. Newly completed premises close to its existing Bicester facility have been identified, with a 15-year lease expected to be signed in Mar 2019 and a rent-free period agreed until the end of 2019, following which lease and business rates costs of approximately £0.24m p.a. will be payable by the Company. This new leasehold building has a footprint of around 20,000ft2 and is located on a new industrial estate, allowing for 24/7 operations if required and providing a significant increase in productive floor area with space for further expansion .

 

MySale Group (MYSL.L) 22.70p £35.03m

HYDec18 update from the international online retailer,

As announced on 10 Dec 2018 the group experienced challenging trading in the first half and anticipates an underlying EBITDA loss in the first half. This is due primarily to the market disruption caused by changes to Australian GST regulation, together with product mix and inventory issues. Revenue has also been impacted by the planned reduction in the group’s offline activities during FY19.

As previously outlined, actions have been taken to accelerate the group’s cost saving programme, via increased technology platform efficiencies and rationalised operations.  An improved product mix and increased local sourcing have also been put in place to improve gross profit margins. Annualised cost savings in excess of A$10m are anticipated which, in combination with improved margins, will result in a significantly improved performance in the second half. The group anticipates delivering a small underlying EBITDA profit for the full year.

 

Cluff Natural Resources (CLNR.L) 3.95p £14.53m

The natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, has entered into a binding, conditional farm out agreement and a three month exclusive option with Shell U.K. Limited in relation to the Company’s Southern North Sea Licences P2252 and P2437 respectively. “We are delighted to be able to announce the farm-out of Licence P2252 and the terms of an option to farm out Licence P2437 with a partner of this standing. This partnership is a clear endorsement of the quality of the licences in our portfolio and demonstrates the Cluff technical team’s ability to identify and transform overlooked or less understood opportunities. We are particularly excited at the prospect of embarking on our partnership with Shell with both parties sharing a commitment to further development in the Southern North Sea.

Most importantly, we now have direct visibility over the route to future drilling activity, and the potential to create further significant value for shareholders.”

 

Smart Metering (SMS.L) 635p £716.93m

The integrated metering services company that connects (installs), owns, operates and maintains UK metering assets, is pleased to announce that it has signed an agreement with Co-operative Energy Limited  to provide services as an integrated domestic smart meter installer and Meter Asset Provider. 

Under the terms of the agreement, SMS has been appointed as the preferred supplier to fund and install domestic smart meters on behalf of Co-operative Energy in certain defined geographic areas. Co-operative Energy currently has around 326,000 meter points within the areas in which SMS has been appointed as preferred supplier.

Trading: The Company’s continued investment throughout the year saw the total number of metering and data assets under management increase by approximately 54% to 3.13m by 31 Dec 2018 . Total annualised recurring revenue increased by 32% to £75.3m as at 31 Dec 2018. 

 

Head Chef:

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

*A corporate client of Hybridan LLP

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