Small Cap Feast

Small Cap Feast – 10 September 2019

Dish of the Day:

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Off the Menu:

Sanderson Group (SND) –    has been delisted from the AIM market due to a cash acquisition by Aptean Bidco. Aptean Bidco will acquire the entire issued and to be issued share capital of Sanderson for 140 pence in cash for each Scheme Share.

What’s Cooking in the IPO Kitchen?


AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019


WORLD HIGH LIFE—The Investment Vehicle is to identify investment opportunities and acquisitions in legal Medicinal Cannabis, Hemp and CBD wellness sectors. The Company has raised £2,398,309 through three issues of Ordinary Shares to private subscribers

Breakfast Buffet

Immotion Group (IMMO) 6.90p £18.84m

Immotion Group, the UK-based immersive ‘Out of Home’ entertainment group, announced further development and roll out of its partnership model.

As stated at the time of the recent placing, the Company is now focused on the roll out of its partnership model into high footfall locations.  Trading in the current partner sites has been very encouraging over the summer months, with aquariums continuing to perform particularly strongly and overall there remains considerable interest from potential new partners as well as further developments with current partners.

Following early success at The 02, Immotion has agreed to extend the offering to include five additional headsets, taking the total number of headsets deployed to 17. The new addition will feature a five-person car racing set-up where users will be able to compete ‘head to head’ in the award winning ‘Project Cars 2’ game.

Mercia Asset Mgt (MERC) 31p £92.5m

Mercia Asset Management PLC, the proactive, regionally focused specialist asset manager, has completed a £2.0million direct investment as part of a £7.5million syndicated funding round into Birmingham-based software company Voxpopme Limited.

The investment round has attracted two new investors into the business, Chicago-based Origin Ventures and NVM Private Equity. Mercia’s direct equity stake is now 23.7%.

Voxpopme is a video insights platform that provides innovative video analytics for internationally renowned clients such as Microsoft, Airbnb, Coca-Cola, Verizon and Expedia. The business has already demonstrated rapid revenue growth operating in a market estimated to be worth c.$46billion in market research and c.$17billion in customer experience. Over the last 18 months Voxpopme has delivered strong revenue growth in both the US and Europe, with year-on-year annual recurring revenue growth exceeding 100%.

IQGeo Group (IQG) 42.5p £21m

IQGeo Group plc, a market leading provider of geospatial productivity and collaboration software for the telecommunications and utilities industries, announced that, since the trading update in July, it has continued gaining new customers and has recently been awarded a contract by a US based mid-sized telecommunications company worth a minimum of USD0.6m comprised of initial installation and configuration and a 3 year software subscription.

IQGeo successfully licensed its extended product set. The initial contract includes IQGeo’s software platform together with its Operations Manager and the recently launched Network Manager products, along with associated implementation services. IQGeo provides this new customer with an end-to-end, enterprise solution that includes the ability to design and roll out fiber networks, as well as monitor operations in real-time and deliver the technical and geospatial information needed by field engineers directly to their mobile devices.

Duke Royalty Limited (DUKE) 47.7p £94m

Duke Royalty Limited, a provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, announced that it has entered into a new £30 million revolving facility agreement with its existing provider, Honeycomb Investment Trust PLC on improved terms.

The New Credit Facility replaces the previous £15 million facility agreement, assumed by Duke as part of its acquisition of Capital Step announced on 4 February 2019.  The increased facility will support Duke in delivering its growth strategy by providing access to additional capital, at a reasonable cost, without relying solely on equity markets. It is also expected to improve shareholder returns by minimising cash drag after equity placings.

Zinc Media Group (ZIN) 0.34p £4.4m

Zinc Media Group plc, the leading TV and multimedia content producer, announced new commissions, contributing to the current financial year totalling £4.8m, including three returning series, across its portfolio of TV companies. 

Reef TV, the Company’s London-based popular factual company, secured repeat commissions of two big series.  ‘[Police] Code Zero’, a docuseries exposing dangerous situations faced by UK police forces, is back in production for Channel 5 and ‘Critical Incident’, a series telling the stories of emergency service workers assaulted in the line of duty, will go into production for another series on BBC One.  These new commissions are significant for the Reef business, which struggled in FY18, and provides a strong platform for the new financial year.

Futura Medical (FUM) 43p £84m

Futura Medical, a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, announced a joint venture collaboration with CBDerma Technology Limited to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of Cannabidiol.  All Intellectual Property will be owned jointly by the Company and CBDerma Technology Limited.

CBDerma Technology is a company that has been established and funded to specifically exploit the therapeutic potential of Cannabis.

Angle (AGL) 70.5p £119m

ANGLE, a world-leading liquid biopsy company, is delighted to announce that Queen Mary University of London’s Barts Cancer Institute has published results of new work undertaken in early stage prostate cancer utilising ANGLE’s Parsortix® system demonstrating the potential to out-perform current standard of care in the detection and assessment of prostate cancer.  This builds on Barts Cancer Institute’s previous work with the Parsortix system in later stage prostate cancer and assessment of aggressiveness.

The work investigated 98 pre-biopsy patients and 155 newly diagnosed but as yet untreated prostate cancer patients over a two year period.

ULS Technology (ULS) 55p £35.35m

ULS Technology plc, the provider of online platforms for the UK conveyancing and financial intermediary markets, announces it has signed a Conveyancing Service agreement with Principality Building Society.

Principality Building Society is the 6th largest mutual building society in the UK, owned by and run for, the benefit of its 500,000 members. With a history spanning more than 150 years, Principality now has over £10 billion of customer assets. Principality arranges approximately 16,000 mortgages for customers per annum of which 6,000 are fees assist re-mortgages. Under this agreement, ULS has agreed to provide the Principality with the Company’s proprietary panel management and conveyancing technology platform, eConveyancer.

Omega Diagnostics (ODX) 11.5p £15m

Omega, the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that it has received a second purchase order from its new partner in China for 28,000 units of its 46-panel Food Detective® test (order value c. £400k). It is anticipated that this order will be supplied by early November 2019. This order is in addition to the first order for 20,000 units (order value c. £290k) announced on 16 August 2019 and supports our partner’s plan to commercialise early in 2020.

Ilika (IKA) 21.5p £22m

Ilika, a pioneer in solid-state battery technology and materials innovation, announces the offer of a further £0.9m funding directly to Ilika under the UK Government’s Faraday Battery Challenge: Innovation R&D, round three, for the ‘Granite project’, via the UK’s innovation agency, Innovate UK.

Head Chef:

Derren Nathan
0203 764 2344

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