Small Cap Feast

Small Cap Feast – 14 May 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 898

Total number of AIM Companies trading: 827*
* As at 03 May 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 03 May 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 161*

Total number of Standard List Companies trading: 141*
* As at 03 May 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)

Jewel UK Midco Limited, the parent company of The Watches of Switzerland Group Limited, is looking to join the premium segment of the main market. Offer TBC, expect TBC

Finablr plc— global platform which provides Cross-Border Payments and Consumer Solutions, Consumer Foreign Exchange Solutions and B2B and Payment Technology Solutions to consumers and businesses in the large and growing payments and foreign exchange market is looking to list on the Main Market plans to raise $200m, expected May 2019

Main Market (Standard)

IMC Exploration Group (NEX: IMCP), focused on acquiring and exploring prospecting licence areas which have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. Expected 11 June 2019

AIM

Essensys plc—a provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry, plans to join AIM. Offer TBC,  expected 29 May 2019.

Induction Healthcare Group plc—a healthcare technology company focused on streamlining the delivery of care by Healthcare Professionals looking to join AIM. Expected raise of £14.58m at 115p, market cap of £34.07m. Expected 22 May 2019.

SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m

Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019.

Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019

NEX Exchange

Arbuthnot Banking Group plc, primarily involved in banking and financial services including commercial banking, private banking, wealth planning and investment management, is looking to joining the NEX Exchange Growth Market. Expected 17 May 2019

Breakfast Buffet

Concepta (CPT.L) 3.5p £9m

FY May 19 results from   the innovative UK personalised healthcare company and developer of the proprietary self-test platform (“myLotus®”)

Revenue of £0.00m (2017 : £0.10m)

EBITDA loss £2.65m (2017 : £2.3m loss)

Cash at year end £0.74m (2017 : £1.5m)

Completion of £2m (net of expenses) share placing at 4p per share in Aug 2018. A further £2.2m raised in April 2019 at 3p.

“Our priority for 2019 is to develop our UK sales channels in B2C and B2B and engage a sustainable growth model which we can extend across the EU.”

Separately  Concepta has announced  its first pregnancies and user testimonials for the myLotus® monitor and app.

Beeks Fin Cloud (BKS.L) 105p £53.2m

The “leading low-latency Infrastructure-as-a-Service (IaaS) provider for financial markets, announced that it is growing its portfolio of datacentre locations by deploying in the NY5 New York datacentre of global interconnection and data centre provider Equinix. In addition to this, Beeks has extended its current rackspace in Equinix’s LD4 datacentre in London by taking a third cage.

With presence in a total of eleven datacentres currently, this move allows Beeks to continue to increase its offering to customers, supplying the opportunity for further connectivity options to financial exchanges from the new location.”

 

Aortech (AOR.L) 70p £10.2m

“The licensor of the world’s leading long- term implantable biostable polymer (Elast-EonTM) and developer of medical devices utilising the key properties of Elast-EonTM, provided the following trading update ahead of the publication of the Group’s audited final results for the financial year ended 31 March 2019 which are expected to be released in mid-July 2019.

Growth in polymer licensing revenue from £404k to over £460k

Strong cash position of £2.4m as at 31 March 2019 (2018: £422k)

Good progress in developing portfolio of medical devices

Confidence in strategy, business model and prospects

 

Michelmersh Brick (MBH.L) 97p £89.3m

AGM Statement from the specialist brick, land development and landfill company.

Trading in 2019 has been robust with production volumes in line with expectations. Forward sales have also been positive leading the Company to expect a first half weighting to its financial performance for the year as the overall capacity of the five plants within the Group is fixed. Initial performance indicates that the acquisition of Floren in Feb 2019 is proving a sound investment that will contribute to the Group’s trading performance and strategic options moving forward. The Group’s performance to date in 2019 gives the Board confidence in achieving expectations for the full year to 31 Dec 2019.”

 

Tekcapital (TEK.L) 10.5p £5.71m

The UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, announced that portfolio company Lucyd Ltd, the developer of an eShop for innovative eyewear, has launched Loud 2.0, its new line of prescription-ready Bluetooth® music glasses.   

Lucyd’s new collection offers 10 exclusive, fashion-forward designs, coupled with more than 20 different types of proper corrective lenses, all day battery life, and a host of useful features.

Lucyd Loud correct your vision and are Bluetooth-enabled, making it possible to listen to music, make phone calls and use voice assistants from your prescription glasses. The voice assistant function enables a number of useful apps to be used handsfree, such as Uber® and Cashapp®. It’s perfect for cyclists, runners, athletes and people on the go, because you can still hear what’s happening around you, while listening to your tunes and staying connected.

 

Eagle Eye Solutions (EYE.L) 153p £38.5m

The “marketing technology company, Eagle Eye Solutions, is partnering with News America Marketing (NAM), the premier marketing services company in the U.S. and Canada, to deliver next-generation retailer and brand marketing solutions. The agreement establishes a partnership where the parties will collaborate to provide personalised digital and analogue advertising and incentives in real time to shoppers in the North American region.

‘This agreement with News America Marketing represents an exciting new opportunity to introduce next-generation marketing solutions in North America with a partner that has a great product portfolio and an extensive client base,’ said Tim Mason, CEO of Eagle Eye. ‘Together, Eagle Eye and NAM will be able to offer market-leading promotions programming, capable of delivering data-driven, personalized offers and messages to digitally-connected consumers in real time.”

 

KR1 (NEX:KR1) 9.5p £13m

“The digital asset investment company, announced that the Company is now generating significant revenue in the form of ‘staking yields’ on the Cosmos Network,  one of the major ‘Proof-of-Stake’ investments in KR1’s portfolio, alongside Polkadot and Dfinity.

Following the launch of the Cosmos Network on the 14 March 2019, staking yield activity is generating significant revenue for KR1 plc on an ongoing basis in the Cosmos Network’s native ATOM digital asset. To date, KR1 has generated 15,463 ATOM. The Company announced that it has realised the accrued revenue from staking yields thus far, realising 15,463 ATOM at an average price of $4.76 per ATOM for a total of $73,671. Cosmos is a ‘Proof-of-Stake’ network that, unlike ‘Proof-of-Work’ networks, such as Bitcoin, does not require enormous computing power and the energy consumption related to this, to guarantee the security and censorship-resistance of the network.”

 

Ideagen (IDEA.L) 136p £281m

FY Apr 19 trading update from the supplier of Information Management software to highly regulated industries.

The Board reported that trading for the year to 30 April 2019 has been strong and results are expected to be marginally ahead of market expectations representing the Group’s tenth consecutive year of revenue and adjusted EBITDA growth. The Group expects to report revenue up 29% at approximately £46.7m, (FY2018: £36.1m) and adjusted EBITDA up 30% at approximately £14.3 m (FY2018: £11m).

Trading was once again robust across all key verticals with the Group delivering organic revenue growth of c.8% and generating a substantial increase in recurring revenues as the transition to a SaaS model continues. The Annual Recurring Revenue book was up 44% at approximately £36.4m driven by an increase in SaaS bookings coupled with the three acquisitions made within the year.

 

Hardide (HDD.L) 53p £26.6m

The developer and provider of advanced surface coating technology, announced that its Hardide-A coating has been selected as the replacement for hard chrome plating (HCP) on Airbus A380 compression flap pads. 

Hardide-A has been developed specifically to meet the needs of the aerospace industry; it is a hard wearing, quality product, environmentally compliant with demonstrable long-term performance qualities.

Interim results (Mar19).

Record revenue for a first half-year – up by 9% to £2.35m (H1 2018:
£2.16m)

Gross profit of £1.05m (H1 2018:
£1.15m)

Group operating loss of £0.66m (H1 2018: £0.32m
loss)

EBITDA loss of £0.44m (H1 2018: loss of
£0.14m)

Successful fundraising of £3.6m in March 2019 to fund continuing investment and long-term growth

Cash at bank at 31 March 2019 of £5.35m (£3.23m at 31 March
2018)

 

Physiomics* (PYC.L) 3.65p £2.77m

The provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, confirmed that is has successfully completed the Innovate UK grant project announced in March 2018.  The project was formally signed off by Innovate UK following a final project meeting in April 2019. The Company can confirm that, in line with expectations, it received total funding of £68k from Innovate UK over the course of the project. This covers the anticipated costs of the project.

The project “Prostate Cancer Chemotherapy Precision Dosing” addressed the acknowledged challenge of effective under- or over-dosing of individual patients following administration of the same amount of chemotherapy agent, due to the variability of patients’ responses to drugs.

Physiomics is exploring the approval of the tool as a medical device which would likely  require further clinical validation before it could be commercialised, but it is possible the tool could be used earlier in research settings thus creating the possibility of nearer term revenue potential. 

 

Head Chef:

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

*A corporate client of Hybridan LLP

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