Small Cap Feast

Small Cap Feast – 18 January 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 916

Total number of AIM Companies trading: 846*
* As at 15 January 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 15 January 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 139*

Total number of Standard List Companies trading: 130*
* As at 15 January 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 (Specialist Funds)

The Global Sustainability Trust -aiming for attractive risk-adjusted returns by investing primarily in private market investments that are expected to have a positive environmental and social impact raising c.£200m. Due 31 Jan 2019.

Main Market (Standard)

Dev Clever Hldgs—Raising up to £700k gross.  The Group has invested over £600,000 in the last five years in developing proprietary software platforms and immersive frameworks to reshape the way its clients engage, acquire and retain their customers and employees through experience, rewards and incentives.  Mkt cap c. £3.7m

AIM

Circassia Pharma (CIR.L) – specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb.

Greenfields Petroleum (TSX-V:GNF)  production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019.

Chaarat Gold Holdings—RTO, the Company intends to acquire Kapan Mining and Processing CJSC, which owns the Shahumyan medium-sized polymetallic mine in Kapan in the Republic of Armenia. No raise, market cap of £110.1m, due early Feb

Breakfast Buffet

Miton Group (MGR.L) 52.5p £90.6m

FYDec18 update from the fund management group.

AuM of £4,376m as at 31 Dec 2018 (2017: £3,823) (+14.5%)

£1,019m net inflows for the Year (2017: £494m) (+106%)

Average AuM for the Year was £4,369m (2017: £3,361m) (+30%)

£25.5m of cash balances as at 31 Dec 2018 (2017: £19.9m)

A total of 5,502,180 ordinary shares of 0.1p each in the Company acquired and cancelled during the Year at a cash cost of £2.6m (2017: 15,152,963 Ordinary Shares)

Overall financial performance for 2018 is expected to be in line with market expectations

FY Dec18E rev £27.4m and PBT £8.68m, Div 1.77p.

 

Eddie Stobart Logistics (ESL.L) 103.5p £393m

FYNov18 update from the UK end to end supply chain, transport and logistics group. “Group revenues for the financial year grew 35% to approximately £843m (2017: £623.9m), ahead of market expectations. Revenues excluding contributions from our acquired subsidiaries, iForce, Speedy Freight and The Pallet Network (TPN), increased by 18%.”

Underlying EBIT for the period was broadly in line with market expectations.  

FY Nov18E rev £802m and PBT £51m. PE c.9x and yield nearly 6%.

 

1 Spatial (SPA.L) 34.5p £34.1m

The global geospatial software and solutions company announced that following a competitive tender it has been awarded a four year contract worth 1m (£900k) to provide its software and services to Ireland’s Property Registration Authority (PRA).

In addition to this, it has also been awarded a three year framework contract as a key development partner to support Ordnance Survey (OS) on their ambitious programme to deliver the next generation of Geo-Production system

 

Bonhill Group (BONH.L) 87.5p £30m

The “B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight, announced a trading update for the 9 months ended 31 Dec 2018.

The Board expects the Company’s results for the 9 months ended 31 Dec 2018 to be ahead of market expectations with Investment News and the UK events business performing well and throughout the period the Company has taken the opportunity to continue to invest in recruiting high quality members of staff to support our future organic growth plans.”

FYDec18E rev £7.8m and pre-tax loss £2.5m.

FYDec19E rev £19.8m and PBT £2.2m.

 

Kodal minerals (KOD.L) 0.17p £13.1m

Further high-grade assay results for the diamond drilling and reverse circulation drilling completed in Nov and Dec 2018 at the Company’s 450km2 Bougouni Lithium Project in Southern Mali

Sogola-Baoule prospect focused on infill and extension drilling of the defined mineralisation and continued to high grade mineralisation including:

18.5m at 1.52% Li2O from 99.3m in drill hole MDDH007

14m at 1.43% Li2O from 142.5m in drill hole MDDH008

Boumou prospect final diamond drill holes intersected multiple mineralised pegmatite veins including:

7.5m at 1.04% Li2O from 130.3m

 

Shearwater Group (SWG.L) 2.75p £52.3m

The “digital resilience group, announced that its portfolio company Xcina, a leading provider of governance, compliance, technology risk and information security assurance and advisory services, has secured a partnership with Moorhouse Group Limited, a UK insurance broker. This partnership is developing cyber risk technology solutions and mobile applications for the mass insurance market to provide an end-to-end response service for all policy holders.

This partnership will see the roll-out of a series of applications and services aimed at risk assessment, threat detection, incident response, critical resource application and a virtual cyber incident response team, to address the shortfall in the number of UK SMEs purchasing adequate cyber insurance policies.”

 

Character Group (CCT.L) 522p £110m

AGM Statement from the Designers, developers and international distributor of toys, games and giftware. “The positive momentum reported at the time of the publication of our preliminary results in Nov, driven by the Group’s strong performance in the UK market in H2 2018 financial year, has continued into the first half of our 2019 financial year.  Despite disappointing performances reported by a number of retailers in recent weeks, our products maintained their popularity through the Christmas period, selling-through well at retail, and demand for our products is continuing.” “With a proven and balanced product portfolio, soon to be enhanced with new product additions and range extensions, and robust UK market demand from customers, the Group’s performance and prospects remain in line with management expectations and market consensus.”

 

Ironveld (IRON.L) 1.78p £10.5m

The “owner of a High Purity Iron, Vanadium and Titanium project  located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa provided an update on the sampling programme to the potential off-take partner announced on 26 Sept 2018.

The Company has now delivered sufficient tonnage to the potential off-taker for them to undertake a full kiln smelting test and expects to receive the outcome of the test in the next three weeks following which the Company anticipates that a long term off-take agreement with the off-take partner will be reached. The bulk sampling operation, combined with the increase in the vanadium price during 2018, has enhanced the profile of the Project. As a result, the Company has received numerous enquiries from potential development partners”.

 

LoopUp Group (LOOP.L) 320p £176m

The “premium remote meetings company, announced that it has signed a material contract renewal with leading global law firm, Clifford Chance.

The minimum total contract value of £2.34m in aggregate over the 3-year term is for the provision of conference calls across Clifford Chance’s global operations, spanning 32 major financial centres in the Americas, Asia Pacific, Europe, the Middle East and Africa.

The LoopUp product is typically offered on a pay-as-you-go, per minute per guest basis. However, this renewal with Clifford Chance on a guaranteed minimum spend basis is a mark of their commitment to the Group’s differentiated product over the long-term.”

 

Everyman Media Group (EMAN.L) 205p £145.5m

Everyman announced that it has appointed Streisan Bevan as an independent NED of the Company on 18 Jan 2019.

Streisan has over 20 years digital marketing and innovation experience within the technology sector, having worked at leading global brands including Facebook, Bebo.com and Microsoft. She spent the last 10 years at Facebook UK, in a variety of senior roles across both commercial and technology focused teams. Mrs Bevan brings a wealth of digital marketing experience on how growing companies can ensure they continue to keep the customer at the core of their strategy.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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