Small Cap Feast

Small Cap Feast – 09 December 2019

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What’s Cooking in the IPO Kitchen?

What’s cooking in the IPO kitchen?

AIM

MJ Hudson Group PLC, the financial services support provider to Alternatives fund managers and asset owners, is planning an AIM IPO. Deal details TBC but expected admission date mid-December.

Main Mkt Premium

Octopus Renewables – Raising £350m.  Will seek to provide investors with an attractive and sustainable level of income returns, with an element of capital growth by investing in a geographically and technologically diversified spread of renewable energy assets—Due 10 Dec

NEX Exchange

 SulNOx Group  – The Group has developed a methodology and process capable of emulsifying hydrocarbon fuels such as diesel and heavy fuel oil . By January 2014, following preliminary laboratory testing, SulNOx was in a position to suggest that its products resulted in up to a 50% reduction of Nitrogen Oxide (NOx) and a 90% reduction in particulate matter Due 17 Dec, mkt cap £42.3m.

 

Breakfast Buffet

Coral Products (CRU.L) 6.875p £5.7m

 The “recently commissioned plastic recycling facility at our Haydock mouldings plant has been granted accredited re-processor status via the UK Environment Agency by meeting the strict guidelines of “The producer responsibility obligations (packaging waste) regulations 2007.” The new status, beginning 1 Jan 2020, will give the business the opportunity to reduce operational costs by fully off-setting the plastic packaging waste levy it currently incurs in the future.

Due to very high internal and external capacity demand of clean recycled plastic the operational hours of our recycling unit will increase from the current 8 hour 5 day per week to 16 hour 5 day per week in December 2019. A further capacity increase to a 24 hour 5 day operation is planned to be completed by 30 April 2020.”

 

Angling Direct (ANG.L) 66p £42.7m

“The UK’s largest and fastest growing fishing tackle and equipment retailer, is pleased to announce that it opened a new store in Barnsley, South Yorkshire, on Saturday 7 December 2019. The latest store opening brings the total number of Angling Direct stores across the UK to 33 and further strengthens Angling Direct’s presence across the UK. “

The Company achieved record performance during the Black Friday week, which ran from 25 November 2019 to 2 December 2019, with total sales up 11.3% to £1.86 million (2018: £1.67 million). During this period, Angling Direct supplied 5,868 new customers, with Black Friday transactions up 28.9% to 18,204 (2018: 14,123).

Profit during the Black Friday period was up 49.5%. The Company continues to trade in line with market expectations and management is confident that it will continue to deliver growth through the second half of the year.

 

Open Orphan (ORPH.L) 5.775p £14.7m

 The Boards of Open Orphan (HVO.L) and hVIVO (ORPH.L) have reached an agreement on the terms of a recommended Offer to be made by Open Orphan for the entire issued and to be issued share capital of hVIVO plc.   2.47 New Open Orphan Shares for every 1 hVIVO Share. The Offer represents a value of approximately 15.56 pence per hVIVO Share and a premium of 33.8 per cent. based upon the hVIVO Closing Price on 6 December 2019, being the latest practicable date prior to the date of this announcement, valuing hVIVO at approximately £12.96 million.  It is anticipated that the benefits to both hVIVO and Open Orphan of the merger will include:

  • Complementary broader in-house clinical service offering;
  • Opportunity to increase margins and service revenues; Expanded capability offering; ·      Commercialisation of hVIVO database through the Open Orphan platform; and   Operating synergies.

 

Frenkel Topping (FEN.L) 33.5p £25.3m

“The specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, is pleased to provide the following update ahead of its year end on 31 December 2019.

The Company has made good progress in the period under review driven by organic growth and new business, which has increased AUM despite the continuing political uncertainty and weakness in equities, and the Company is also pleased to see continued high client retention rates. The Board therefore expects that the Company’s trading for the full year will be in line with management expectations. 

The expectations noted above are subject to the completion of year-end financial close and audit processes. A comprehensive update and review with be provided with the Company’s annual results, which are expected to be announced on Thursday 9 April.”

 

CentralNic (CNIC.L) 66p £120m

The global internet platform that derives revenue from the subscription sales of domain names and web services, announces the appointment of Iain McDonald, currently a Non-Executive Director of CentralNic, as its Non-Executive Chairman with immediate effect. At the same time Mike Turner will step down from his role as Non-Executive Chairman but will remain on the CentralNic board as a Non-Executive Director.

Iain, has been a board member of CentralNic since 2015. He is the founder of Belerion Capital, an investor and investment advisor in technology and e-commerce companies. Iain is also a non-executive director of The Hut Group and Boohoo.com.

 

Directa Plus (DCTA.L) 75p £45.8m

The producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that its newly acquired subsidiary Setcar (to be renamed Directa Environmental Services) has been awarded a contract (“the Contract”) to provide a suite of environmental decontamination services on the Trinity – 1X gas project in Block 30 offshore Romania.  The Contract covers the three-month period to the end of February 2020 for the appraisal by GSP, the general contractor, of the Trident gas field contained in Block 30 in water depth of some 1,000 meters.  Lukoil and Romgaz are the operators of Block 30.  The value of the Contract is estimated to be approximately US$1 million.

 

Landore Resources (LND.L) 0.69p £8.99m

Results of the 2019 soil sampling program carried out along strike to the east and west of its BAM Gold Project, Junior Lake Property, Ontario, Canada.    The program has provided drill targets from the western extent of the BAM Gold Resource at 1000E to Juno Lake, a distance of approximately 1,300 metres, and eastwards from 3900E. Elevated gold in soil sampling in these areas supports extending the resource drilling in both directions from the BAM Gold Resource. 

The 2019 soil sampling programme within the highly prospective Felix grid area, 5 kilometres long x 1.2 kilometres wide located to the west of Juno Lake, has identified numerous gold anomalies and trends with similar geology and geophysics to that of the existing BAM Gold Project. The Felix area will require additional infill lines of soil sampling before drilling can commence.

 

IronRidge Resources(IRR.L) 9.3p £30.9m

Drilling has commenced at the Zaranou gold project in Côte d’Ivoire. The license borders with Ghana and is along strike from significant operating gold mines including Chirano (5Moz), Bibiani (5.5Moz) and Ahafo (17Moz).  To test approximately 8km strike of hard-rock artisanal mining, anomalous geochemistry and coincident magnetic anomalies. Approximately 6,500m of Air Core (‘AC’) drilling within seven (7) traverses up to 800m long, designed to test across the width of artisanal mining sites and discrete magnetic targets

Ø Approximately 1,500m of deeper Reverse Circulation (‘RC’) holes planned to test below or along strike of large artisanal pits, discrete magnetic anomalies and structural targets

Ø Previously reported channel sampling results including 6m @ 3.67g/t, 3m @ 4.13g/t and 4m @ 2.39g/t gold, and rock chip sampling results including 69.9g/t, 48.8g/t and 25.3g/t gold from within the artisanal pits

 

Tern (TERN.L) 8.962p £23.9m

The investment company specialising in the Internet of Things (“IoT”), is pleased to announce that Mr Matthew Scherba, who has 25 years of start-up and scale-up experience specialising in working and investing in technology companies across the IoT industry, has joined Tern as an Investment Director, a non-Main Board appointment, reporting to the Chief Executive Officer and responsible for helping to develop existing and new portfolio opportunities. He has also been appointed to the Tern Investment Committee.

 

DeepMatter Group (DMTR.L) 3.1p £22.8m

DeepMatter today announces a collaboration with AstraZeneca to use innovative digital technologies with the aim of improving the productivity and reproducibility of compound synthesis.

Scientists from the two organisations will work together to improve the productivity of synthesising single compounds and compound libraries based on unique, structured data harvested from the DigitalGlassware™ technology.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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