Small Cap Feast

Small Cap Feast – 18 October 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 875

Total number of AIM Companies trading: 791*
* As at 14 October 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 87*

Total number of NEX Growth Market Companies trading: 85*
* As at 14 October 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: 143*
* As at 14 October 2019

Dish of the Day:

Helios Towers.  Main mkt—Premium. HTWS.L 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. Pricing at 115p, Mkt cap £115m.

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

African Export-Import Bank a supranational financial institution whose purpose is to facilitate, promote and expand intra- and extra- African trade, of its potential intention to publish a registration document, the Bank hereby confirms its intention to proceed with an Initial Public Offering. The GDRs are expected to be admitted to the standard listing segment of the Official List of the FCA and to trading on the Main Market of the LSE.

Breakfast Buffet

Augean (AUG.L) 149.5p £155.6m

One of the UK’s leading specialist waste management businesses, has acquired an option to purchase approximately 90 acres of land adjacent to its existing East Northants Resource Management Facility (“ENRMF”) landfill site near Peterborough. This option is Augean’s preferred choice following their investigation of a number of alternative solutions to provide long term key infrastructure, aligning with the national need for hazardous landfill and soil treatment in the South of England.  With appropriate planning and permitting consent, the extension that has been optioned would prolong the life of the ENRMF site until the mid-2040s. ENRMF currently generates revenue of over £15m per annum and operating profit of over £8m.

World High Life (NEX:LIFE) 12p £13.3m

The Company’s previously announced agreement to acquire Love Hemp Ltd. has closed successfully. The Company’s Directors believe that this first investment by the Company provides World High Life with a platform to expand Love Hemp’s already significant business throughout the UK and more extensively into Europe. The Company has also completed a £2 million convertible debenture fundraising.  The Company will continue with its financing round and expects to close a second tranche of convertible debenture financing in the coming weeks.

Highlights:

World High Life has acquired Love Hemp for a consideration of between £9 million and £10 million

Savannah Petroleum (SAVP.L) 23.05p £202.8m

Savannah Petroleum (SAVP.L) 23.05p £202.8m

The British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to announce it has entered into an unsecured loan facility with an initial tranche of US$5m expected to be drawn immediately.

  • Fixed interest premium of 7% payable on the Principal Amount (and any future amounts drawn), to be paid at maturity (“Interest Premium”);
  • Principal Amount and associated Interest Premium can be repaid at any point up until the initial loan maturity date of 17 January 2020 by which point they are to be fully repaid;

Conditionally convertible and extendable by a further $5m. .

easyHotel (EZH.L) 110p £149m

FYSep19 update.

Despite the ongoing political and economic uncertainty facing the UK, the Group’s owned hotels have continued to outperform the UK Hotel Market on a like-for-like basis.                                         Total system sales up 28% to £47.8m (30 September 2018: £37.3m)

Revenue up 56% to £17.6m (30 September 2018: £11.3m)

Owned hotels like-for-like RevPar up 7.7%

Franchise like-for-like RevPar down 1.6%

During the second half of the period the Group has successfully refurbished and reopened easyHotel Old Street (89 rooms) and let the self-contained 15,500 sq.ft. offices. easyHotel Milton Keynes (124 rooms) opened earlier than planned and both hotels are trading strongly. On 1 October 2019 the Group completed the acquisition of the 87-room Ibis Palais de Congres in Nice.

Live Company (LVCG.L) 43.3p £30.3m

Further to the announcement of 5 October 2018, and the update provided in the Company’s Interim Results, announced on 30 September 2019, the Company continues to be in advanced discussions with the vendors of Bright Bricks Holdings Limited regarding the settlement of the deferred consideration of, in aggregate, £0.833 million, due today, through the issue of new ordinary shares. Further announcements will be made as appropriate.

Itaconix (ITX.L) 1.45p £3.9m

FY Dec 19 update.

Revenues for the first three quarters of 2019 ended 30 September 2019 reached £0.7m, representing a 78% increase over revenues for the first three quarters of 2018 and matching full-year 2018 revenues of £0.7m. This growth demonstrates the value of the Company’s products in detergents, personal care, and odour control.  The Board expects second half revenues will exceed the first half of 2019. However, as a result of delays in certain customer projects, the Board believes that full-year revenues will be below current market expectations, but still represent a very significant increase over 2018 revenues. Strong pipeline of active customer projects and is undertaking efforts to accelerate key revenue opportunities, particularly in water treatment and detergents.

Elegant Hotels (EHG.L) 109p £97m

“The owner and operator of seven upscale freehold hotels and a beachfront restaurant on the island of Barbados, would like to draw shareholders’ attention to the announcement made by Marriott International Inc. in relation to a recommended cash offer by its wholly-owned indirect subsidiary, International Hotel Licensing Company S.à r.l, for Elegant, to be effected by means of a Court sanction scheme of arrangement under Part 26 of the Companies Act 2006, released at 07:00 a.m. on 18 October 2019 under RNS Number 3120Q. “

Offer 110p (£100.8m)   a premium of approximately:

57.1 per cent. to the Closing Price of 70.00 pence

Wincanton (WIN.L) 235.5p £293.3m

The largest British third-party logistics company, announces that it is currently undertaking a diligence exercise on Eddie Stobart and its assets, in order to enable it to assess the potential merits of a combination. No proposal has been made by Wincanton to Eddie Stobart as to the terms of any potential offer, and there can be no certainty that any offer will be made to Eddie Stobart shareholders.

APQ Global (APQ.L) 68.5p £53.6m

Book value report

APQ Global is an emerging markets growth company incorporated in Guernsey  which is listed on The International Stock Exchange and admitted to trading on AIM.

The Company hereby announces that as at the close of business on 30 September 2019, the unaudited book value per Ordinary Share was 87.59 US Dollar cents, equivalent to 71.08 Pounds Sterling pence.

San Leon Energy (SLE.L) 26.2p £119.4m

San Leon Energy plc today announces that, pursuant to the shareholder resolutions passed on 27 September 2019 at the Annual General Meeting, it plans to acquire ordinary shares of EUR 0.01 nominal value each up to a total value of USD 2m.

Head Chef:

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

*A corporate client of Hybridan LLP

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