Small Cap Feast

Small Cap Feast – 15 July 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 888

Total number of AIM Companies trading: 807*
* As at 15 July 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 88*

Total number of NEX Growth Market Companies trading: 86*
* As at 15 July 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 165*

Total number of Standard List Companies trading: 143*
* As at 15 July 2019

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What’s Cooking in the IPO Kitchen?

Main Market (Premium)

Main Market (Specialist Funds)

Voyager AIR  The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m.

AIM

Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raising EUR135m with market cap on admission of EUR309.6m, expected 17 July 2019.

Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.

Breakfast Buffet

Tertiary Minerals (TYM.L) 0.28p £1.04m

Further to the Company’s announcements of 21 Feb 2019 and 30 May 2019, Tertiary Minerals plc is pleased to advise that initial follow-up field reconnaissance of soil anomalies at its recently acquired Paymaster Polymetallic Project in Nevada has identified two zones of zinc-silver mineralisation for follow-up exploration and drilling.

Valley Prospect

New thick skarn zone observed in the field: Approximately 350m long and up to 8m thick

Ø Rock sample taken from historic shaft spoil assayed 7.5% zinc, 4.3% lead and 180g/t silver

East Slope Prospect

650m long zinc soil anomaly (100-250 ppm zinc) surrounding previously sampled outcrop of zinc-silver cobalt bearing skarn mineralisation, including 175m long 250-500 ppm zinc soil anomaly

Previous rock sample assays up to 20.9% zinc, 0.11% cobalt and 198 ppm silver within the prospect

Infill soil sampling and trenching proposed to better define drill target

Maestrano Group PLC (MNO) 1.07p £0.82m

Maestrano, the open platform for banking integration, master data management and business analytics  provided a business update.

Since announcing on 1 May 2019 the closure of the US banking customer project, Maestrano has undertaken a review of business strategy and long term value growth.  ‘We are committed to continuing development of our master data management platform and support for current and prospective clients but also resolved to explore opportunities to acquire complimentary products and teams, where clear opportunities exist to accelerate shareholder value.’

One such opportunity has arisen and, after preliminary due diligence, Maestrano and this company have signed a term sheet in order to enter into a period of exclusive negotiation and formal due diligence. The potential acquisition is at an early stage and there is no certainty that a transaction will be concluded. Further announcements will be made in due course.

Lansdowne Oil & Gas (LOGP) 1.90p £11.98m

Providence Resources, the Irish based Energy Company, provided a commercial and operational update in relation to Standard Exploration Licence (“SEL”) 1/11 which contains the Barryroe oil accumulation.  SEL 1/11 is operated by EXOLA DAC, a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited and Lansdowne Celtic Sea Limited. The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c.50 km off the south coast of Ireland.

On June 5, 2019, the Company announced that it had agreed certain amendments to the Farm-Out Agreement for the Barryroe Project with APEC Energy Enterprises Limited and, together with EXOLA and Lansdowne, the “Barryroe Partners”, including a revised backstop date with APEC for receipt of the $9m loan advance to June 14, 2019, which was subsequently extended to July 5, 2019. On July 8, 2019, the Company advised that it agreed an extension to July 10th and subsequently to July 12, 2019.

Amino Technologies (AMO) 121.00p £86.67m

Amino Technologies, the technology provider for modern TV experiences, has acquired 24i Media, an online video specialist, providing Apps as well as user experience (“UX”) solutions and services for a total consideration of 21.4m

24i shares Amino’s vision of where the modern TV industry is heading and, like Amino, recognises that the industry is at the beginning of the curve of disruption. This is a fundamental shift from broadcast and hardware to streaming and hosting video platforms in the cloud. Like Amino, 24i has an agile culture of innovation and is focused on capturing this market opportunity.

The Acquisition will enable Amino to deliver full ‘end-to-end’ and on-demand personalised content solutions to its customer base. It will also build momentum in Amino’s software and services revenues, as well as its recurring revenues. 

24i extends Amino’s customer base, as well as the products and services it offers.  There are clear cross selling and upselling opportunities. Amino serves mainly operators whereas 24i serves mainly broadcasters but is also of high appeal to operators.

Velocys PLC (VLS) 3.25p £13.36m

Fundraise of £7M. Project co-funding by BA & Shell of £2.8m

Velocys plc (VLS.L), the renewable fuels technology company, is pleased to announce that it has secured £7m (gross) by way of a Placing.

Fund raising of £7m

Placing of 233,333,335 New Ordinary Shares at a placing price of 3p per share by certain existing shareholders and new institutional investors

Net proceeds of the Placing will be used predominantly: (i) to complete the development capital fund raising and initial stages of development of the Front End Engineering Design (FEED) for the Mississippi Biorefinery Project; (ii) to strengthen and extend the Company’s intellectual property portfolio; (iii) for working capital and central costs; and (iv) on analysing and testing catalyst and Fischer-Tropsch reactors from the recently completed full scale demonstration run in Oklahoma

The Placing complements commitments received by the Company from the Altalto Immingham waste-to-sustainable-fuels project’s strategic partners, British Airways and Shell, of £2.8m in total.

LightwaveRF PLC (LWRF) 8.75p £8.53m

The leading smart home solutions provider, announces the following trading update for the three months ended 30 June 2019, being the third quarter of its financial year ending 30 Sept2019.

Revenue in Q3 2019 increased by 67% to £1.27m compared with the same period last year (Q3 2018: £0.76m)

Revenue for the first three quarters of the financial year increased by 98% to £3.77m  (2018: £1.9m)

New European distribution agreement with Tech Data and £0.5m first order

Lightwave compatible Google smart speakers now being marketed

“Since I joined the Company a year ago, Lightwave has made considerable progress. As well as continuing the strong sales growth, we now have in place a number of further initiatives to maintain this momentum. The recently announced Tech Data distribution agreement for Europe and joint marketing with Google continue to position the Company for its full year revenue to more than double last year’s £2.8m.”

Ceres Power Holdings (CWR) 183.50p £268.11m

Ceres and Doosan will work together to develop a Solid Oxide Fuel Cell (SOFC) power system, for the commercial building market

Agreement worth £8m to Ceres over two years

South Korea is one of the world’s leading fuel cell markets, and Doosan is already one of the world’s largest developers of fuel cell power systems

Ceres Power, a world leading developer of low cost, next generation fuel cell technology and Doosan Corporation, have signed a Collaboration and Licensing agreement to jointly develop SOFC distributed power systems initially targeted at the Korean commercial building market.

Conroy Gold & Natural Resources (CGNR) 5.65p £1.34m

Conroy Gold and Natural Resources, the gold exploration and development Company focused on Ireland and Finland, announced that it has raised 250,000 through the issue of an unsecured convertible loan note to Hard Metal Machine Tools Limited. The Lender is a company 99% owned by Mr Philip Hannigan, an existing shareholder of the Company with a beneficial interest in 1,961,577 ordinary shares of €0.001 representing 8.28%of the current issued share capital of the Company.

The net proceeds of the Convertible Loan Note will be used for general working capital purposes and exploration programme costs.

The Company has entered into an unsecured convertible loan note agreement for a total amount of €250,000 with the Lender which have been created pursuant to a loan note instrument. The Convertible Loan Note has a term of three years and attracts interest at a rate of 5% per annum which is payable on the redemption or conversion of the Convertible Loan Note.  The Convertible Loan Note is unsecured.

GAME Digital PLC (GMD) 29.90p £51.88m

GAME notes the announcement made by Sports Direct International that, as at 1:00 p.m. on 12 July 2019, it owned, had agreed to acquire or had received valid acceptances of the Mandatory Offer in respect of a total of 145,057,695 GAME Shares, representing approximately 83.88% of the issued share capital of GAME at that date, and noting its intention to procure that GAME make applications to request the cancellation of the listing of GAME Shares on the premium listing segment of the Official List of the UK Listing Authority and the cancellation of the admission of the GAME Shares to trading on the London Stock Exchange’s main market for listed securities.

Capitalised terms used but not defined in this announcement have the meaning given to them in the response circular published by GAME on 4 July 2019.

Accordingly, GAME announces that applications will today be made to the UK Listing Authority and the London Stock Exchange to request the Cancellations and GAME confirms that the notice period of 20 business days for the Cancellations commenced on 15 July 2019.

Access Intelligence (ACC) 58.50p £35.44m

Access Intelligence, a leading supplier of SaaS solutions for communications and reputation management, announces its unaudited half year results for the six months ended 31 May 2019.

First half revenue increased by approximately 42% to £6.2m (H1 2018: £4.3m).

Annual Contract Value (“ACV”) base increased by approximately 45% year on year to £12.9m (H1 2018: £8.9m):

ACV base increased by £0.45m during H1 (H1 2018: £0.36m).

The Company delivered an Adjusted EBITDA* profit in the period of £379,000 (H1 2018: loss £55,000).

At 31 May 2019, cash balance was £1.76m (H1 2018: £3.06m).

ResponseSource Ltd integration activity progressing in line with expectations, with customers to be migrated onto upgraded systems during Q3 2019.

92% of the expected £700,000 annualised synergy savings pursuant to the acquisition already achieved.

Continued investment in product development with new functionality added to support a range of artificial intelligence led insights alongside advanced data management that allows customers to manage sensitive data in accordance with increasingly stringent privacy law.

Head Chef:

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

*A corporate client of Hybridan LLP

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