Small Cap Feast

Small Cap Feast – 09 October 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 875

Total number of AIM Companies trading: 791*
* As at 08 October 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 87*

Total number of NEX Growth Market Companies trading: 85*
* As at 08 October 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: 143*
* As at 08 October 2019

Dish of the Day:

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Off the Menu:

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Dish of the Day:

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What’s Cooking in the IPO Kitchen?

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. Expected Oct 2019.

Breakfast Buffet

Good Energy Group (GOOD) 148.5p £25.4m

Good Energy Group PLC, the 100% renewable electricity supplier and innovative energy services provider, today announces an agreement with Kraken Technologies Ltd, part of Octopus Group for the provision of a new customer services technology platform.

Investing for Growth

The Kraken system implementation and associated operating model transformation is expected to drive operating cost savings, customer experience benefits and future growth. This will enable more customers to access competitively positioned clean energy and technology services from Good Energy, the energy supplier Which? recently gave its highest green rating. It will enable more people and more businesses to reduce their carbon footprint, at a time when consumers want to take action to combat the climate crisis.

Total forecast investment of £4m will be split approximately equally between cash and non-cash elements. Operating cost savings are expected to achieve payback of the forecast investment within 18 months of the April 2020 full implementation.

Tricorn Group (TCN) 12p £6.17m

Tricorn Group, the AIM listed tube manipulation specialist, provides the following pre-close trading update for the six months ended 30 September 2019.

The Period started encouragingly with the new paint facility in the USA integrating well and ahead of plan. Demand in the USA has remained broadly in line with expectations, but the USA operation has seen some short-term pressure on margins. This has been due to a lag between the impact of the increase in tariffs in the USA on goods sourced from China and the time taken to negotiate price increases with customers.

The Joint Venture in China performed in line with expectations.

In the UK demand slowed significantly through the second quarter resulting in revenue for the Period being around 12% lower than the six months ended 30 September 2018 (the “Corresponding Period”).

As a result, first half revenue for the Group is expected to be around 7% down on the Corresponding Period and slightly lower than expectations.

Erris Resources (ERIS) 5.35p £1.66m

Erris Resources plc, the European focused mineral exploration company with a portfolio of zinc and base metals projects in Ireland and gold projects in Sweden, Finland and now Norway, is provides an update on its activities in Scandinavia for the 2019 field season, which typically runs from May to September.

Highlights

Granted four new exploration permits covering two new gold projects in Northern Norway.

Ground truthing of new Norway permits confirms mineralisation potential ahead of winter season.

Completed fieldwork in Finland as part of the strategic alliance with Centerra Gold including mapping, prospecting and soil sampling at the Sakiatieva Project in northern Finland.

Completed a drone aeromagnetic survey at the Sakiatieva Project and re-logged historic core as part of a full data review of the project.

Identified new drill targets for gold mineralisation at the Sakiatieva Project.

Versarien PLC (VRS) 97.5p £148.5m

Versarien, the advanced materials engineering group, announces that it has signed a collaboration agreement with Refractory Solutions Insertec S.L.U., an international manufacturer of industrial furnaces and refractory products, headquartered in Spain.

Under the collaboration agreement, Versarien and Insertec will be working on a project to incorporate Versarien’s Hexotene® into certain of Insertec’s refractory materials with a view to enhancing their performance in molten metal applications.

Hexotene® is a few layer hexagonal boron nitride (h-BN) nanoplatelet powder with large lateral dimensions.  Also known as “white graphene”, hexagonal boron nitride has a layered structure similar to graphite.  With high chemical purity and mono-layer particles confirmed, Hexotene® was added to Versarien’s high performance 2D material product range in March 2018.

Codemasters Grp (CDM) 212.5p £297.5m

Codemasters, the video game developer and publisher specialising in high quality racing games, provides the following trading update following the conclusion of its half year ended 30 September 2019 (‘H1 2020’).

The Company has generated revenue of £39.8 million for the six-month period versus £39.7 million for the same period last year (‘H1 2019’). Digital sales as a proportion of revenue continue to increase, representing 61.7% of total sales in the period (53% H1 2019), resulting in an improved gross margin of 89.3% (88.5% H1 2019). The Group had net cash as at 30 September of £24.6 million (£17 million H1 2019).

As a result of the strong financial performance in the first half, the Board is confident that the results for the full year will be in line with its expectations.

Ncondezi Energy (NCCL) 4.85p £15.1m

Ncondezi Energy Limited announced the appointment of Hanno Pengilly as a Director of the Company and the Company’s new Chief Executive Officer.

Hanno has considerable knowledge in the power and mine sectors on the back of his experience in the business over the last 10 years. Hanno joined the Company in 2010 and has been the Company’s Chief Development Officer since May 2012. Hanno has been responsible for managing key project milestones including the delivery of the power plant and mine feasibility studies in 2013 and 2014. Since May 2017, Hanno has led the Company’s strategic partner process, which successfully resulted in the signing of a binding Joint Development Agreement in July 2019, and led the Company in key negotiations with the Mozambique government and state power utility Electricidade de Moçambique.

Redcentric PLC (RCN) 85p £128m

Redcentric plc, a leading UK IT managed services provider, today announces a trading update for the six months ended 30 September 2019.

Trading for the half year has been in line with the Board’s expectations and the Company remains focussed on its new and existing customers in both the public and private sectors. The Company’s net debt1 at 30 September 2019 was £16.5m (31 March 2019: £17.6m; 30 September 2018 £22.6m), despite dividend payments of £1.5m and an acceleration of network and infrastructure capital expenditure in the period. The Company has also commenced a share buyback programme as announced on 17 September.

Alpha Fin. Markets (AFM) 199p £205m

Alpha FMC, a leading global provider of specialist consultancy services to the Asset and Wealth Management industry, provides its pre-close trading update before reporting its half yearly results for the six months ended 30 September 2019.

Alpha FMC has performed well in the first half of the financial year.  On a like-for-like basis the Group progressed compared to the recent six months ended 31 March 2019. The integration of the Axxsys business, acquired in June, is largely complete and the business is performing to expectations.   

The Board is satisfied with the Group’s first half performance and anticipates results for the full year in-line with the Board’s expectation.

Scapa Group PLC (SCPA) 192p £304m

Scapa Group plc today provides a period end update for the six months ended 30 September 2019.

The Group’s trading performance for this period is in line with the Board’s expectations.  On a statutory basis, revenues grew 14.3% (10.4% on a constant currency basis) predominantly driven by Healthcare and the full period effect of the Systagenix technology transfer. Statutory group trading profits reflect the impact of the loss of the ConvaTec contract and are expected to be approximately 17.0% below last year.

Pressure Technologies (PRES) 107.5p £18.1m

Pressure Technologies, the specialist engineering group, announced that its wholly owned subsidiary, Sheffield based Chesterfield Special Cylinders Limited (CSC), has secured a significant contract in excess of £3 million to supply nitrogen storage solutions to EDF Energy for its UK nuclear power plants at Heysham, Torness and Hartlepool.

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