Small Cap Feast

Small Cap Feast – 11 December 2019

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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.

Main Market—Standard

Adriatic Metals. ASX Listed seeking dual listing in London. Due 12 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

Team 17 (TM17.L) 309p £406m

The “global games label, creative partner and developer of independent (“indie”), premium video games, is pleased to announce that The Survivalists will launch in 2020.

Developed internally, and set in The Escapists’ universe, the survival-lite sandbox game will launch on Nintendo Switch™, PlayStation 4, Xbox One and PC.

The Survivalists sees players shipwrecked on procedurally-generated islands and combines the crafting, combat and building elements of The Escapists with new features including a mimic system that allows players to train monkeys, gather resources, build structures and fight off threats. In addition to single-player mode, the game will also feature a session-based, online co-operative multiplayer element, as introduced in The Escapists 2.”

 

Amino Technologies (AMO.L) 106p £80.6m

 The technology provider for modern TV experiences, announces that 24i, the Group’s global video experience business, has launched a new suite of applications and Subscription Video-On-Demand (SVOD) services for US-based video streaming service BroadwayHD.

24i’s capacity to create next-generation, branded video experiences and applications, has provided BroadwayHD with a robust end-to-end OTT video solution that accelerates growth by providing subscribers with a rich, personalized and easy to navigate experience on any device.

BroadwayHD offers subscribers unlimited on-demand access to a library of more than 250 theatre productions from Broadway, The West End and beyond. The premier streaming service is available online at broadwayhd.com, and via a dedicated app on iOS, Android, Apple TV, Amazon Firestick and Roku.

 

Sopheon (SPE.L) 690p £62.2m

“In our interim results statement issued on 22 August 2019, we noted that we expected a more pronounced second half weighting to our annual performance, alongside a significantly expanded sales pipeline with a much higher than expected proportion of SaaS opportunities. That expectation has not changed. We entered the traditionally busy final quarter with over $30m1 in opportunities with 2019 target close dates, of which almost half related to SaaS deals and the balance in perpetual licenses along with associated consulting services. Today, overall revenue visibility2 for the year stands at $28m with $9.9m in remaining opportunities with 2019 target close dates. Of this, up to $2.7m represents perpetual license fees which, if signed, would contribute to recognized revenue in the current financial year. An additional $4.8m represents potential orders for multi-year SaaS or other recurring commitments, and the balance associated consulting services. December is traditionally a very busy month where we would expect to close a material number of deals and this would deliver a strong quarter in historic terms; however we would caution that our ability to execute on this is dependent on customers signing orders consistent with their plans”.

 

Europa Oil & Gas (EOG.L) 1.75p £7.8m

 AGM Statement. “The opening sentence of Europa Oil and Gas press releases describes us as an exploration and production company.  The exploration side is largely accounted for by a very high impact portfolio of offshore Ireland licences which combined have the potential to host gross mean un-risked prospective resources of 6.4 billion barrels oil equivalent and 1.5 tcf gas.  The production side of the business is comprised of interests in three onshore fields in the U.K. East Midlands which, over the course of the last financial year, produced 91 boepd net to Europa and generated £1.7 million revenues.  Like all E&P companies, our aim is to move assets from exploration towards production via success with the drill bit, thereby scaling up revenues, increasing reserves and generating value for shareholders.”

In terms of appraisal, the results of the public enquiry into the Wressle field are due post election. A positive result would have a dramatic effect on the Company’s production profile.

 

Lightwave RF (LWRF.L) 4.05p £5m

Update for October and November. Like-for-like sales for the Period were up 12% on the corresponding period last year at £815,000. Direct sales demonstrated a record performance for the Black Friday and Cyber Monday period, which ran from 25 November 2019 to 2 December 2019, with sales up 23% on the corresponding period last year to £252,000 comprising: Telesales increased by 57% to £118,000 ); & E-commerce sales increased by 3% to £134,000. As announced on 4 November 2019, whilst substantial progress was made in annual revenue growth in the Company’s last financial year, the final quarter was held back by a number of one-off issues. Trading during  demonstrates a return to the sales levels experienced during the first three quarters of FY 2019.  The Company is currently conducting a formal review of the various strategic options, including a potential sale of the Company .

 

Faron Pharma (FARN.L) 301p £130m

New data from MATINS -trial patients to be presented at the ESMO Immuno-Oncology Congress 2019 in Geneva, Switzerland. Faron’s scientific network will present the data in a plenary lecture and more detailed biomarker data in a Mini Oral session.  First available set of cell surface biomarker data from a group of seven patients to be presented at the congress show that: 1) anti-Clever-1 treatment in cancer patients decreases a broad range of checkpoints including PD-1, PD-L1, CTLA-4, OX40, 41BB, LAG3 and 2) co-stimulation markers CD28 and ICOS on circulating T cell populations whereas 3) it increases the expression of activation markers CD25 (IL-2RA), CXCR3 and CD69. In addition, anti-tumour responses with anti-Clever-1 treatment are found to associate with an increase in plasma interferon gamma (IFN-gamma), which is one of the tools the immune system is using to fight against cancer.

Minoan Group (MIN.L) 2.2p £9.4m

“Minoan’s Board has been actively exploring interest from a range of serious parties operating within inter alia, the UK, the Middle and Far East as well as Greece. The Board is now considering a number of different types of commercial transactions with a view to entering into more formal arrangements. Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year. We will keep the market informed on progress.” onclusion of the Firm Subscription for cash referred to in its announcement on the 10 May 2019 as a result of which, the Company has issued a further 7,272,728 ordinary shares of 1p each (“New Ordinary Shares”) at 2.75p per share.

In addition, the Company has agreed to settle certain liabilities by the issue of 8,494,603 Ordinary Shares of 1p each at 2.75p per share.

 

Pelatro (PTRO.L) 55p £18m

The global Multichannel Marketing Hub software specialist, is pleased to announce another contract win that further establishes its position in the industry as a company with significant domain expertise to assist telcos in their campaign management activities.

The Group has been selected by one of its existing customers in Asia to provide Business Consultancy for the campaign management activities of the telco.

The revenue potential to Pelatro is about US$ 1 million over three years.

 

Karelian Diamonds (KDR.L) 2.9p £1.16m

Karelian has raised a total of £240,000 through a subscription in the capital of the Company  and the issue of an unsecured convertible loan note. Subscription price 4p. Conversion Price 10p.

The deal has been subscribed for by a new investor, Fredrik Björnberg. Mr. Björnberg is a member of a prominent family in Finland with a range of business activities, in particular in the forestry and paper industry.

The Björnberg family previously owned the Luikonlahti copper mine in the Kaavi area and still have close connections with this part of Finland.

 

Provexis (PXS.L) 0.45p £8.8m

“Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce it has raised a gross £301,333 via a placing (the ‘Placing’), conditional on admission to trading on AIM, of 75,333,333 new ordinary shares of 0.1p each (the ‘New Provexis Shares’) with new and existing investors.” Priced at 0,4p an 11.1% discount to yesterday’s close.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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