Small Cap Feast

Small Cap Feast – 15 March 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 905

Total number of AIM Companies trading: 835*
* As at 11 March 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 11 March 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: 142*
* As at 11 March 2019

Dish of the Day:

No Joiners Today

Off the Menu:

Urals Energy has been unable to replace its NOMAD and has left AIM

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

 

What’s Cooking in the IPO Kitchen?

Main Market (Premium)

US Solar Fund, a newly-established investment company focused on investing in solar power assets mainly in the US, looking to raise $250m at $1. Expected 20 March

AIM

Network International Holdings—Potential Intention to Float— leading enabler of digital commerce across the Middle East and Africa  region, operating across over 50 highly underpenetrated payment markets that contain a total population of 1.5 bn. 2018 rev $298m, underlying EBITDA $152m.

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.

Diaceutics, a data analytics and implementation services company which services the global pharmaceutical industry, is looking to join AIM late March, offer TBC.

Rumours & Speculation

Lendinvest seeking a £500m plus valuation in a London Listing according to Sky News.  Since its 2008 launch Lendinvest has  lent roughly £2bn to help buy, build or renovate British homes

Breakfast Buffet

Lightwave RF (LWRF.L) 8p £6.17m

“The leading smart home solutions provider, announced that it has signed a supply agreement with E.ON, the international energy company, for the latest range of Lightwave Smart series lighting and power devices.

The supply agreement is part of a collaboration between E.ON and Berkeley Group, one of the UK’s leading housebuilders, at their Kidbrooke Village development in Greenwich, London.

Lightwave’s smart hub, light switches and power sockets will be offered to Berkeley’s homebuyers as an upgrade package, to control lighting and power and to allow energy monitoring at device level through E.ON’s Future Energy Home dashboard.”

 

Global Petroleum (GBP.L) 1.45p £2.94m

HYDec18 results. The main focus of the Company during the reporting period was offshore Namibia where the Company secured a Petroleum Agreement to acquire Block 2011A, with the relevant licence designated PEL 0094. Global holds an 85% interest in PEL 0094 as operator. State oil company, NAMCOR, and Namibian private company Aloe Investments, have carried interests of 10% and 5% respectively.

Loss of $916k. Cash $3.8m. The Company remains committed to offshore Namibia where work will continue in seeking a farm-out partner to fund future operations on both PEL 0029 and PEL 0094. The Company also remains committed to pursuing its Italian applications, notwithstanding the recent moratorium imposed by the Italian Parliament.

 

Vela Tech (VELA.L) 0.17p £1.38m

Update on WeShop (Vela stake £427k).

“WeShop is pleased to announce some significant developments in its ambition to unlock the true potential of social commerce, including:

  1. Significant product and proposition enhancements
  2. Strengthening the senior management team and the business’s executional capability
  3. New branding with more relevancy and specific user group focus
  4. The agreement of key commercial deals as part of the plan to develop a true social retail ecosystem”.

 

Zinc Media (ZIN.L) 0.3p £5.11m

HY Dec 18 results from  the TV and multimedia content producer.

Tern Television continues to perform strongly

Sustained growth in international TV series

Order book in TV at £20.5m

Group revenues of £9.86m (H1 18: £9.76m)

Gross margin of 32.8% (H1 18: 33%)

Adjusted EBITDA of £0.01m (H1 18: £0.24m)

Diluted loss per share 0.05p (H1 18: diluted earnings per share of 0.01p)

 

GCM Resources (GCM.L) 29.5p £24.06m

Second JV Agreement with Power Construction Corporation of China, Ltd  for the development of an additional 2×1,000MW Coal-Fired Power Plant Project  at the site of the Company’s proposed coal mine in North-West Bangladesh. The Second JV Agreement is in addition to the initial Joint Venture agreement signed with POWERCHINA as announced on 17 Jan 2019.

The Additional Power Plant proposed with POWERCHINA is part of the Company’s broader strategy to generate 6,000MW of low-cost electricity for the Bangladesh market utilising domestic coal. The Project, providing an estimated $14.5bn in foreign investment, is anticipated to be a catalyst for local, regional and national growth.

 

Symphony Environmental (SYM.L) 6p £8.87m

FY Dec 18 results from the global specialist in products and technologies that “make plastic smarter”.

Group revenues increased by 6.5% to £8.80m

d2p revenues increased by 191% to £0.93m

d2w revenues were broadly stable at £7.67m

Gross profit increased by 2.8% to £4.13m

Adjusted EBITDA, before R&D, and planned increased marketing, communications and brand costs of £1.18 m

Reported PBT fell to £0.04m

“We believe the Group is reaching a pivotal point in its development. In particular, our Middle East market is increasing the number of products which must be made with our d2w type of oxo-biodegradable plastic technology, whilst at the same time substantially improving their enforcement process.  We are confident that this will translate into materially higher sales of d2w going forward.”

 

Oxford Metrics (OMG.L) 85p £103.8m

“The international software company servicing government, life sciences, entertainment and engineering markets announced that Vicon, a world leader in motion measurement, has agreed a strategic partnership with Sandbox VR targeting the fast-growing Location-based Virtual Reality (‘LBVR’) market.

Sandbox VR is a market leader in LBVR with a total of seven active locations. Their latest and most ambitious experience, Amber Sky 2088,will be powered by Vicon Evoke, part of Vicon’s unique LBVR offering – Vicon Origin. As part of the partnership, Sandbox has initially purchased a total of five systems from Vicon.  Two of these will be used at Sandbox’s existing locations in Hong Kong, upgrading their current solution. As Sandbox continues to expand into new locations there is significant opportunity to scale the partnership over time.”

 

XL Media (XLM.L) 55.5p £117.7m

The “leading provider of digital performance marketing, announced the appointment of Shaun O’Neill as the Company’s new Head of Sales with immediate effect. Shaun will be responsible for the development and growth of XLMedia’s gambling activities.

Shaun joins XLMedia from Kindred Group, where he acted as the company’s Head of Affiliate Marketing. Prior to Kindred Group (formerly Unibet), Shaun was Head of Affiliate Marketing for iGame Ltd which was later acquired by the Kindred Group. iGame Ltd was one of the leading online gaming companies in Scandinavia, hosting such websites as iGame.com and Casinohuone. Shaun has also held similar positions at Nordic Gaming Group, Playsafe Holdings and GX Magazine.”

 

Proton Power Systems (PPS.L) 8.75p £51.6m

Proton and Skoda Electric a.s. in the Czech Republic have signed a letter of intent with the objective of entering into a cooperation to develop, sell and service fuel cell electric buses using Proton’s modular HyRange® systems.

The first prototype buses shall be brought into operation for European bus operators with an initial target of at least 10 vehicles by the first quarter of 2020.

 

Bahamas Petroleum (BPC.L) 1.73p £40.1m

$2.5m placing at 1.6p Proceeds of the Placing will be used to fund the Company as it seeks to secure a farm-in partner to finance an initial exploratory well on the Company’s four southern licences in The Bahamas.

BPC is confident of being able to attract a farm-in partner now its licences have been extended to 31 Dec 2020.

Discussions are ongoing with a number of potential farm-in partners.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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