Small Cap Feast

Small Cap Feast – 13 September 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 880

Total number of AIM Companies trading: 795*
* As at

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

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

Dish of the Day:

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Off the Menu:

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What’s Cooking in the IPO Kitchen?

AIM

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

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.

Breakfast Buffet

SThree (STHR.L) 277.25p £385m

The international specialist staffing business focused on roles in Science, Technology, Engineering and Mathematics (‘STEM’), issued a trading update covering the period from 1st June 2019 to date .

Group net fees adjusted for working days up 6% YoY

Group net fees up 4% YoY

Good net fee growth in Contract, in line with strategic focus

Contract up 7% YoY

Contract increased to 75% of Group net fees in Q3 (Q3 2018: 73%)

Permanent net fees down 5%

Growth in net fees across all international markets.

DACH net fees up 8%, USA up 5% and Japan up 82%

Net fees generated from international markets increased to 86% (2018: 84%)

Group period-end sales headcount up 8% YoY, with Q3 headcount down 1% versus Q2

Chaarat Gold (CGH.L) 27.4p £114.6m

The gold mining company with assets in the Central Asia and the Former Soviet Union, is pleased to announce the conclusion and signing on 11 September 2019 of a Joint Venture Agreement with Çiftay İnsaat Tahhüt ve Ticaret A.S, the Turkish mining and mine construction contractor. This follows the announcement on 18 March 2019 that Chaarat had signed a binding term sheet to enter into a Joint Venture with Çiftay to collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyz Republic.

Under the agreement, based on an agreed valuation of US$252m (post money) for Tulkubash and Kyzyltash, Chaarat’s mining projects in the Kyrgyz Republic, Çiftay will progressively invest up to US$31.5m in cash for a corresponding 12.5% equity stake in these two project assets. Construction continues at Tulkubash and the first gold production is on track for late 2021.  The updated June 2019 Tulkubash Feasibility Study, as well as the ongoing drilling programme, continue to suggest the emergence of a significant new gold district.

Katoro Gold (KAT.L) 1.1p £1.9m

HYJun19 results from the  Tanzanian focused exploration and development company .

Preparation work for initial drill programme at the high-grade Haneti Nickel Project (“Haneti”) in Tanzania well advanced to

o  Ascertain the existence of disseminated or massive sulphide mineralisation

o  Define a future larger scale drilling programme

Joint Venture with Power Metal Resources plc (‘POW’) (AIM:POW) for the development of Haneti now a 5.9% holder.

Proposed sale of the Company’s wholly owned subsidiary, Reef Miners Limited, for a staged cash consideration of up to US$1.0m and a 1.5% Net Smelter Royalty .

£433k  loss.  Reef sale should provide working capital for the ‘foreseeable future’.  The Board has therefore elected to accrue salaries due to the Board until sufficient funds have been received pursuant to the Disposal or otherwise

Character Group (CCT.L) 340p £72.7m

H2 Scandinavian client woes and weak sterling are key factors highlighted in today’s trading update.

“This has put considerable pressure on our margins and negatively impacted the Group’s results for the second half of the year ended 31 August 2019 and will likely continue to be a factor in the current year.

Through a combination of these factors, the profit before tax for the Group for the year ended 31 August 2019 is likely to be in the range of £11.0m – £11.5m., slightly under the lower end of current market expectations.”

Peppa Pig License  extended to June 2021.  In house Goo Jit Zu range getting a good reception.

The Board remains confident in the Group’s continued profitable performance and balance sheet strength and, therefore, will be recommending to shareholders that the final dividend for the year is maintained.

Sterling Energy (SEY.L) 9.75p £21.46m

The “oil and gas exploration company with a high potential exploration asset in Somaliland and an active strategy to deliver shareholder value through disciplined, exploration and production projects, is pleased to announce that the Government of the Republic of Somaliland has granted a continued extension to the current period of the Odewayne Production Sharing Agreement (“PSA”).

The expiry dates of the relevant exploration periods under the PSA shall now be: Third Period: 2 November 2020;

Fourth Period (optional): 2 May 2022; Fifth Period (optional): 2 May 2023; and Sixth Period (optional): 2 May 2024.”

Metals Exploration (MTL.L) 0.84p £17.4m

The natural resources exploration and development company with assets in the Pacific Rim region, announces its interim results for the six months ended 30 June 2019.

Highlights

Gold production of 30,774 ounces, an increase of 34% over the 2018 half-year of 22,952 ounces;    Gold recoveries of 66.1%, an increase of 20.6% over the 2018 half-year of 54.8%;

Gross profit of US$8.49m achieved compared to gross loss for the 2018 half-year of US$3.46m; Positive cashflow from operations of US$3.47m, compared to a cash outflow from operations for the 2018 half-year of US$1.16m;

Restructuring negotiations with lenders continues to progress with a standstill agreement in place; and,      New management team in place.

Angle (AGL.L) 77p £110m

The liquid biopsy company, is pleased to announce that the University of Birmingham has published results of a review of research into the use of circulating tumor cell (CTC) markers in the treatment of head and neck cancer identifying some key benefits of ANGLE’s Parsortix® system over other CTC liquid biopsy systems.

The review identifies key potential uses of a CTC liquid biopsy to:

facilitate accurate patient risk stratification

guide treatment selection

predict response and identify the failure of treatment early, allowing a timely shift of therapeutic strategy.

Asiamet Resources (ARS.L) 3.47p £38m

HYJun19 results

Key Operating highlights include:

Feasibility Study for the BKM Copper Project in Central Kalimantan completed

  • Value Enhancement initiatives announced with the Feasibility Study (see release 14 June 2019)

Updated JORC Mineral Resource estimate for the BKM Copper Project

Maiden JORC Ore Reserve estimate for the BKM Copper Project

Updated JORC Mineral Resource estimate for Beutong

2019 loss $4.2m (2018: loss $6.2m)

Closing cash as at 30 June 2019 $0.46m. $2.1m since raised in August.

AFH Financial (AFH.L) 296p £126m

The financial planning led wealth management firm, announces it has completed two acquisitions of IFA businesses with a maximum consideration of £7.2m, subject to performance criteria. The two deals will bring a combined £215m of Funds Under Management (“FUM”), raising AFH’s total FUM above £5.6 billion. “The announcement of these latest acquisitions follows our recently completed £15m placing in July 2019. Notably, the acquisitions have been completed on attractive, value-enhancing multiples, in line with our business model and those negotiated in previous transactions. “

Serinus Energy (SENX.L) 8.75p £20.9m

Serinus has made the final payment of US$2.7m, plus accrued interest, on the EBRD Senior Loan Facility.

“I am delighted that we have made this payment, which puts us on a firmer financial footing as we continue to progress production at our key projects in Romania and Tunisia. We look forward to providing further updates to shareholders over the coming months.”

Head Chef:

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

*A corporate client of Hybridan LLP

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