Small Cap Feast

Small Cap Feast – 16th December 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 988

Total number of AIM Companies trading: 959*
* As at 15 December 2016

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 85*

Total number of NEX Growth Market Companies trading: 82*
* As at 15 December 2016

Set Menu Standard List:

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

Total number of Standard List Companies trading: *
* As at 15 December 2016

Dish of the Day:

No AIM Joiners Today

Off the Menu:

Cancellation of Journey Group and red24 following their respective take overs

Dish of the Day:

Formation group has joined ISDX.  The shares will cease trading on AIM on 12 January.

Off the Menu:

No ISDX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

Ultimate Products—The Telegraph reports Jim McCarthy, former chief of Poundland has been appointed Chairman of Ultimate Products ahead of a £100m listing in H1 2017. Ultimate Products owns the Beldray cleaning brand and the licence to sell Russell Hobbs and Salter electrical products in the UK.

Breakfast Buffet

Andalas Energy (ADL.L) 0.09p £2.18m

The Indonesian focused energy company, announced that it has submitted an application for its first gas to power project of 2 x 30MW to be included in the Republic of Indonesia’s Electricity Supply Business Plan (‘RUPTL’).  The application follows the signing of an agreement with PT Pertamina, Indonesia’s national energy company, to fast-track the commercialisation of proven gas fields within Pertamina’s acreage in Sumatra, via the roll-out of the Company’s gas to power strategy . Approval will significantly de-risk the Project, unlock value and open up multiple funding options including sale of part of its interest to third parties. This is part of a growing pipeline of identified gas discoveries that can support new generating capacity of between 50 and 100 MW per project.

United Carpets Group (UCG.L)10.25 p £8.34m

HY Sep16 results. Network sales were £27.5m (2015: £27.1m). Revenue was £10.2m (2015: £10.4m).    Like for like sales increased by 2.1%. Earnings per share increased 8.2% to 0.66p. Net funds were £1.8m (31 March 2016: £1.6m). Interim dividend of 0.13p from 0.125p. Like for like sales for the 10 weeks since the period end to 8 December 2016 have continued to be positive. Despite the challenging political and economic background, the outlook for the financial year is positive having completed a successful first half. Despite uncertainty, the underlying base case is satisfactory, supported by a low interest rate environment combined with a housing market that continues to function reasonably well. There are no forecasts in the market.

Shanta Gold (SHG.L) 8.75p £51.01m

The East Africa-focused gold producer, developer and explorer, announced that on 15 December 2016, the underground development intersected first mineralisation at the Bauhinia Creek deposit. The intersect occurred just after the nose fault, as predicted in the geological model.  “Intersecting first ore is a pleasing result and we remain on track to commence first stoping of ore in Q2 2017. “

Anglo Asian Mining (AAZ.L) 23p £25.91m

The gold, copper and silver producer focused in Azerbaijan, is pleased to announce an exploration update for its new gold discovery, “Ugur”, within its Gedabek licence area in western Azerbaijan. Additional 35 reverse circulation drill holes completed since previous update – 1,842 metres of reverse circulation drilling now completed. Initial Phase II core drilling programme has now confirmed an oxide zone to depth of about 60 metres. Core drilling on-going based on a 40-metre grid system to allow for resource and reserve estimation. Significant upside potential from results of alteration mapping – core drilling of flanks of main zone planned.


Marechale Capital (MAC.L) 1.62p £0.94m

HY Sep16 results from the City of London based corporate finance house. Marechale has made progress in the first six months of the current year. Gross profits of £378,000 (2015 £192,000) are on budget and the Company has made a small profit of £10,000 (2015 loss £48,000) during the first half of the year. In the Leisure sector, the Company has successfully completed a number of leisure deals, including the MBO and debt refinancing of the tapas restaurant group Koh Thai, growth equity fundraising for Chestnut Inns, and an additional funding for Brewhouse & Kitchen .

SafeCharge International (SCH.L) 207.5p £311.4m

The specialist in advanced payment technologies,  has completed a minority investment in Nayax Ltd (“Nayax”), a leading global provider of EMV certified cashless payment solutions for the unattended vending sector.  The SafeCharge cards acquiring and innovative payments platform has been integrated with Nayax technologies to deliver a robust and scalable solution for unattended payments. The investment follows the success of a number of pilot tests in Poland and the UK, the forerunners to a gradual roll out of the acquiring service across Europe. FYDec16E rev of £80.9m and PBT of £23.3m.

MoneySwap (SWAP.L) 0.1p £1.2m

Update on proposed refinancing activities from the provider of payment solutions and gateways to merchants. Discussions have continued with Hunan Commodities Trading Centre Company Limited, with a view to completing an issue of new shares which, if effected, would give HNCX an equity holding in excess of 51% of the enlarged share capital. Having regard to the time being taken to complete this proposed subscription, MoneySwap has entered into additional discussions with other 3rf parties, as well as with existing shareholders & holders of convertible loan notes. All these discussions continue &  the Board will update shareholders of progress in due course.

HML Holdings (.L) 37p £14.47m

The provider of property management, insurance and ancillary services to residential property blocks, is  has conditionally raised £2.035 million, before expenses, through a heavily oversubscribed placing at 37p. The Group has sourced three potential acquisition targets for which non-binding heads of terms have been signed. These three acquisitions are in line with the Company’s strategy and are expected to be earnings enhancing post integration. The combined consideration for the acquisitions is expected to be approximately £4.4 million. It is envisaged that 20% of the consideration will be deferred.

Ncondezi Energy (NCCL.L) 5p £12.5m

Project update in elation to its 300MW power plant project, located near Tete in northern Mozambique.  Good progress continues to be made in the negotiations to finalise the Joint Development Agreement with Shanghai Electric Power Co., Ltd. It is expected that the workstreams to agree the transaction documents will be completed in Q1 2017 with SPIC (State Power Investment Corporation) and Chinese government approvals to follow.

MedaPhor (MED.L) 29p £9.25m

MedaPhor and SonoSim Inc. and The Regents of the University of California have reached an agreement in principle on a patent license and patent infringement settlement.  As a result, the parties will proceed to formalize their agreement in writing, following which the lawsuit between the parties will be dismissed.  The settlement will be satisfied from the existing cash resources of the Group. The Company will provide a further update on the settlement once all documents are finalised.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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