Small Cap Feast

Small Cap Feast – 12 June 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 894

Total number of AIM Companies trading: 819*
* As at 10 June 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 10 June 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 163*

Total number of Standard List Companies trading: 141*
* As at 10 June 2019

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What’s Cooking in the IPO Kitchen?

Breakfast Buffet

IronRidge Resources (IRR.L) 15.50p £45.66m

 “The African focussed minerals exploration company, is pleased to announce that it has now completed acquisition of 100% of the share capital of each of Marlin Minerals SARL, Booster Minerals SARL and CAPRI Metals SARL (collectively the “Vavoua Projects”), which gives IronRidge full ownership of a further and highly prospective gold exploration portfolio in Cote d’Ivoire.”

The acquisition of the Vavoua Projects is in return for the issue of 2,111,668 shares in IronRidge at 22 pence per share, a significant premium IronRidge share price

Magnetics data confirms strike extension over 40km of a major Shear Zone which hosts the world-class 1.73Moz JORC compliant Abujar project to the south of the Vavoua portfolio

IronRidge team to advance the projects and future growth strategies.

Former shareholders of Marlin, Booster and CAPRI further endorse the IronRidge vision and strategy by voluntarily escrowing their IronRidge stock for 12 months.

Cemented commodity and jurisdiction diversity.

Streamlined operations with continuity and structure for future growth.

PCI-Pal (PCIP.L) 28.00p £11.06m

The “secure payments provider to contact centres, is pleased to announce it has signed a global extension to its UK reseller contract with leading CCaaS and UCaaS vendor, 8×8 Inc. This agreement builds on the Company’s existing relationship with 8×8 in the UK. The Company is also pleased to announce today that this reseller contract has already generated the partnership’s first customer contract in the U.S. with a market leading brand in the travel sector.

Leveraging PCI Pal’s globally accessible AWS cloud platform, this fully integrated solution will enable 8×8 to deliver secure payment services to their customers across the globe through simplified deployment processes and without the need for on-premise hardware. The fully integrated service is expected to be generally available within the next few months.

In addition, PCI Pal has also extended its existing partner relationship with a leading telecommunications company in Canada, signing a fully integrated reseller contract. This new agreement, and the integration of our respective technologies, gives PCI Pal access to the full range of their contact centre and telco customer base in both Canada and other territories in which they operate.”

Ananda Developments (NEX:ANA) 0.3p £1.3m

Update regarding hapac®.

Ananda owns 15% of Liberty Herbal Technologies Limited, the 100% owner of hapac ®, a technology for inhaling medicinal cannabis.

As previously announced, the hapac® product was launched in Milan, Italy over

the Christmas and New Year period 2018/2019.    Since the last update in April

2019:

 hapac® continues to be sold in 6 stores in Italy

hapac® products have been launched online on the Easyjoint e-shop

 A new range of products have been developed and launched

 Sales have increased significantly since January 2019

 Plans are in place to launch a www.haplondon.com website and e-shop and further expand distribution.

Slingsby (SLNG.L) 85.00p £0.98m

AGM Statement from  one of the market leaders in the distribution of industrial and commercial equipment.

Group sales in the five months to 31 May 2019 were 3.5 per cent. higher when compared to the same period in the prior year, reflecting the lower level of growth seen during April and May 2019.  The trends in Group margin and overheads experienced in the first quarter of 2019 have continued in the second quarter and, as a result, operating profit in the four months to the end of April 2019 have remained lower when compared with the same period to April 2018.

“The Group has suffered variability in its level of order intake since the decision to extend the Brexit date, which was an event the Group and a portion of its customer base had planned for. The effect on short term demand from the unwinding of these plans, together with the additional economic uncertainty created by the Brexit extension, means that we are cautious regarding the outlook for the results for the six months to 30 June 2019.”

StatPro (SOG.L) 129.00p £84.94m

 The provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has acquired the environmental, social and governance (“ESG”) research and index business unit (ECPI”) from ECPI Group Srl for a total estimated consideration (included deferred contingent consideration) of 2.9m (£2.6m) in cash.

ECPI has annualised recurring revenues of approximately €0.9m (£0.8m) and generated €0.3 m (£0.2m) EBITDA in 2018

Expected to enhance Group adjusted EPS in the first full year following acquisition

Enhances Source: StatPro’s benchmark offerings with growing demand for ESG ratings and indices

Altus Strategies (ALS.L) 4.85p £8.27m

The Africa focused project and royalty generator, announces the discovery of a new gold prospect and positive results from a trial gravity survey at the Company’s 100% owned 412km2 Daro Cu-Au-Ag Volcanogenic Massive Sulphide (“VMS”) project, located in the Tigray Regional State of northern Ethiopia.

Wedi Keshi gold prospect discovered at the Daro project in northern Ethiopia

Rock chip samples include 14.1 g/t Au, 8.5 g/t Au and 7.3 g/t from quartz veins and wall-rock

Prospect mapped for 2km along strike and up to 300m in width

Numerous artisanal hard rock and alluvial gold workings mapped along margins of prospect

Five separate gold & VMS prospects defined to date at the Daro project

Reconnaissance ground gravity survey at Teklil prospect confirms VMS potential

Simultaneous exploration programmes underway at Daro and recently granted Zager licence

Big Sofa Tech (BST.L) 4.75p £6.71m

The international video analytics provider to the consumer insight industry, announces that revenues for the 6 months ending 30 June 2019 are anticipated to be in the region of £1.1m, reflecting growth of approximately 80 per cent. over the same period in 2018. 

As previously announced, the Company is seeing deepening engagement with Ipsos, one of the world’s largest market research organisations and a significant shareholder in the Company, growing traction and repeat subscriptions from existing global customers, and new customer acquisition in a diverse range of sectors, including manufacturing, technology and retail.

The benefits of the programme of cost savings which were announced in October last year have continued to have an impact on the Company’s cost base; the revenue growth has been achieved on a materially lower cost base than the comparable period in 2018. The board expects revenues to grow significantly in the second half of its financial year while maintaining a tight focus on cost control.

Keywords Studios (KWS.L) 1,709.00p £1,101.23m

The international technical services provider to the global video games industry, today announces that it has acquired the entire equity share capital of Descriptive Video Works Inc (“DVW”) from its founder, Diane Johnson, a highly respected executive in the broadcasting industry in North America.

DVW ‘s  highly specialized and skilled team provides audio description services for broadcast and over the top (OTT) streamed programming, feature films, documentaries and live action series as well as live coverage of prime time events such as the Olympics for NBC.

DVW generated adjusted profit before tax of CAD 0.66m on revenues of CAD 2.2m. The total consideration for the acquisition is CAD 3.2m, of which CAD 2.24m is being paid in cash on completion and the rest through the issue of 35,560 new ordinary shares in Keywords. The consideration shares will be issued to the Seller on the first anniversary of the acquisition and will then be subject to orderly market provisions for a further 12 months.

Everyman Media (EMAN) 182.00p £131.65m

The independent cinema group has appointed Elizabeth Lake as Chief Financial Officer with effect from 16 September 2019.

Elizabeth, aged 51, brings extensive financial and commercial experience to the management team at the Company. For the past three years, Elizabeth has been the Finance Director at Science in Sport plc and prior to that was the finance director at Hugo Boss UK and Ireland. Elizabeth has also worked at listed companies Marks and Spencer, Pearson and Thomson Reuters. Elizabeth is ACA qualified having trained at Coopers and Lybrand.

Avesero Resources (ASO.L) 31.00pp £25.70m

The “West African gold producer, announces that, further to its announcement of June 10, 2019, negotiations remain on-going between the Company’s open pit mining contractor, the Orkun Group Sarl and former employees of the Company’s open pit mining department at its Youga mine in Burkina Faso with a view to re-hiring the open pit operators. The Company’s CEO is working closely with senior management of Orkun to resolve the situation. The Company remains confident of a positive near-term conclusion, however gold processing operations have now been temporarily suspended at Youga. Mining and processing operations will recommence upon successful conclusion of these negotiations.”

Head Chef:

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

*A corporate client of Hybridan LLP

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