Small Cap Feast

Small Cap Feast – 13 February 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 914

Total number of AIM Companies trading: 844*
* As at 05 February 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 05 February 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 145*

Total number of Standard List Companies trading: 128*
* As at 05 February 2019

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

Main Market (Premium)

DWF, a global legal business,  expects to raise primary gross proceeds of approximately £75m. Due March

AIM

United Oil & Gas (UOG.L) an oil and gas exploration and development company brought to the Official List (Standard Segment) in July 2017 by way of a reverse takeover of Senterra Energy plc. No capital to be raised, expected market cap of £17m and expected 28 Feb

Techniplas –global  producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient.  FYDec17 rev $515m.

Breakfast Buffet

National Milk Records (NMR.L) 125p £27.6m

HYDec18 results from the supplier of dairy and livestock services.

Turnover substantially increased to £11.7m (2017: £10.5m)

One-off and seasonal activity provided 48% of this growth.

Profit on ordinary activities, before taxation, of £1.130m (2016: £0.957m)

Increased overhead costs represents inflation and investment in training and Information Technology systems. EBITDA percentage increased from 11.2% to 11.7%.

Net Debt reduced to £2.064m after paying a dividend of £0.5m

Cash generation from operations of £0.9m and capital investment of £0.3m

 

Patagonia Gold (PGD.L) 105p £24.2m

First drill results from its San Jose Project in Uruguay.

Seven holes drilled, comprising five reverse circulation (RC) and two diamond drill (DD), in an 882 metre drill programme, completed in December 2018

All of the seven holes cut gold mineralisation

Best intercept was 4.55 m @ 4.7 g/t Au (including 0.7 m @ 27.6 g/t Au) in hole DWDD-010

Mineralised structure open for expansion along strike along the north-south direction and depth

 

Karelian Diamond Resources (KDR.L) 3.1p £1.07m

TUKES (The Finnish Mining Authority) has granted a Reservation situated in the Liperi region of eastern Finland to Karelian Diamonds.

A review of positive past exploration results and airborne geophysics in the area led to the decision to apply for the Reservation.

The Liperi region lies within a geological area known as a Craton, which straddles Russia and Finland. Two world class diamond deposits, Lomonosov and Grib, have been discovered on the Russian sector of the Craton and are now in production.

The Liperi Reservation covers an area of 12 km².

A Reservation gives exclusive rights to apply for an Exploration Permit within the Reservation area.

 

Cerillion (CER.L) 161p £43.8m

“The billing, charging and customer relationship management software solutions provider, announced that it has signed a major new contract with a US-based telecoms provider, worth an initial $6.8m and a total of $8.3m over three years. The deal is one of Cerillion’s largest wins to date and supports existing market forecasts.

The contract was secured after a comprehensive tender process, and follows pilot work in the final quarter of the last financial year. It covers the supply and installation of Cerillion’s Enterprise BSS/OSS* suite, as well as support and maintenance.

 

Clinigen Group (CLIN.L) 844p £977m

The global pharmaceutical and services company, has signed an agreement with Novartis to acquire the US rights to Proleukin® (aldesleukin, human recombinant interleukin-2) for up to $210m in cash, consisting of an upfront and deferred payments along with future sales related milestones.  

Clinigen already owns the rights to Proleukin outside the US, which it acquired in July 2018.

Highlights

Proleukin is indicated for metastatic melanoma and metastatic renal cell carcinoma in the US

Clinigen will be the exclusive global owner of the licensed version of this drug

Currently being used in around 80 active studies within the US across multiple disease areas

Has the potential to become an integral part of cancer combination therapies

 

Norman Broadbent (NBB.L) 12.75p £6.5m

Trading update ahead of its annual results in respect of the year ended 31 Dec 2018. Significant progress towards a return to profitability 

Group revenue increased by £2.6m (+40%) to £9.2m our highest annual revenue in over 10 years

Group Net Fee Income (“NFI”) increased by £1.6m (+32%) to £6.6m

2018 Group operating performance (loss of £0.6m) a significant improvement on 2017 (loss of £1.6m)

2018 Group operating performance includes a one off increase in the provision for office dilapidations of £0.1m relating to our former offices”.

“Confident of continued double digit growth in 2019, although given the outstanding growth in 2018, being prudent, we are understandably cautious about predicting a similar year-on-year NFI % increase.

At EBITDA level, we are confident that we will continue seeing losses reduce as NFI continues to rise in 2019.”

 

Malvern International (MLVN.L) 4.6p £10.71m

The global learning and skills development partner, is pleased to provide a trading update for the year ended 31 Dec 2018.

Group performance for 2018 has been in line with market expectations. Revenues from continuing operations are expected to be in excess of £8m, being close to a 100% increase on the equivalent period in 2017, and the Group expects to report a profit in line with expectations having adjusted for a number of one-off and non-recurring costs. Net debt at the year end was approximately £789,500, after taking in account a related party loan of £605,500 and convertible loan notes amounting to £264,000.

The period is notable for the successful integration of the Communicate English language school in Manchester, acquired in July 2018, and the significant improvement in the performance in Singapore driven by the turnaround in SAA Global Education Pte Limited (“SAAGE”) which was acquired in November 2017.

 

Renalytix AI (RENX.L) 145p £78m

The developer of artificial intelligence-enabled diagnostics for kidney disease, announces the completion of a joint venture partnership agreement with AKESOgen, an industry-leading commercial laboratory facility and provider of clinical trial precision medicine services located in Atlanta, Georgia.

AKESOgen brings a state-of-the-art 14,000 square foot CLIA1 certified and CAP2 accredited laboratory facility that enables RenalytixAI to immediately scale operations to support additional business partnerships on a variable-cost basis without incurring additional fixed overhead. RENX AI Labs provides RenalytixAI with further operations outside of its recently configured New York City-based clinical laboratory operations in JLABS, a Johnson & Johnson Innovation centre.

The joint venture, named RENX AI Labs, LLC, significantly expands the operational capacity available to RenalytixAI.

 

Bagir (BAGR.L) 1.5p £4.75m

The designer, creator and provider of innovative tailoring, announced that Shandong Ruyi Technology Group, a strategic partner, further to the previously announced $16.5m proposed investment in Bagir, will provide the Company suit jacket manufacturing equipment for exclusive and indefinite use in its Ethiopian manufacturing facility.

The manufacturing equipment, which consists of nearly new and second-hand machinery, is being provided to Bagir for nil consideration. The manufacturing equipment provided has an estimated market value of approximately $1.3m. The manufacturing equipment is expected to be delivered to the Company’s Ethiopian manufacturing site during 2019.

 

D4T4 Solutions (D4T4.L) 197.5p £75.3m

A Total Economic Impact™ study conducted by Forrester Consulting and commissioned by Celebrus, the Enterprise Customer Data Platform (CDP) from D4t4 Solutions plc, in partnership with Dell EMC, the provider of industry-leading converged infrastructure, servers, storage and cybersecurity technologies, quantifies the benefits gained by one of Celebrus’ many banking clients. The study determines that the Total Economic Impact of the Celebrus CDP amounts to more than $5.4m profit over a 5-year period and delivers rapid returns for an enterprise solution of this scale.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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