Small Cap Feast

Small Cap Feast – 20 September 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 880

Total number of AIM Companies trading: 795*
* As at 16 September 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 16 September 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at 16 September 2019

Dish of the Day:

No Joiners Today

Off the Menu:

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Dish of the Day:

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What’s Cooking in the IPO Kitchen?

AIM

AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019

Main Market Standard

VAALCO Energy, Inc. (NYSE: EGY), an independent energy company focused on development and production assets in West Africa, today announces its formal intention to seek a Standard Listing on the Main Market of London Stock Exchange (“LSE”), to complement its existing Listing on the New York Stock Exchange.

Kaspi.kz, the largest Payments, Marketplace and Fintech Ecosystem in Kazakhstan with a leading market share in each of its key products and services, announces today the expected publication of a registration document that has been submitted for approval to the FCA and its potential intention, subject to market conditions, to undertake an initial public offering .

Main Market premium

Registration document approved for Helios Towers. 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.

Breakfast Buffet

Sunrise Resources (SRES) 0.14p £3.16m

Sunrise Resources provides the following positive updates on progress at its CS Pozzolan-Perlite Project in Nevada, USA.

The Company advises that good progress has been made since the last mine permitting update on 31 July when the remaining permitting steps were set out.

All of the Supplemental Environmental Reports previously in preparation have now been completed and submitted to the lead regulator, the Bureau of Land Management . The SERs analyse the impact of the CS Project on various natural resources on a cumulative basis taken with other existing or proposed developments in the project’s wider area. These impacts are considered by the Company’s environmental consultants to be minor or negligible in most cases except in respect of the mine area itself where there is a moderate but localised impact on soils and geology as would be expected for any mining operation.

Arena Events Group (ARE) 19p £30m

Arena Events Group announced that it has completed the installation of the largest single temporary hospitality structure ever installed in Japan, in partnership with Omni International in Yokohama Japan, for a rugby tournament starting this month.

The 3,800 square-meter facility, located at Shin Yokohama, adjacent to the Nissan Stadium will host guests for all seven matches at the Nissan Stadium.

This is the second time that Arena has worked at the world’s biggest rugby tournament after successful delivery in the UK in 2015. Arena was a key supplier in delivering multiple temporary structures for hospitality and back of house areas, as well as media facilities.

Sports Travel & Hospitality Japan (STHJ) was awarded the contract as sole provider of hospitality for the tournament in Japan in 2019 and will be offering a unique guest experience, combining traditional western hospitality with Japanese Omotenashi, the philosophy of Japanese hospitality. Arena has worked with STH Group on a number of high-profile sporting events.

Alien Metals Limited (UFO) 0.17p £1.89m

Alien Metals, the AIM quoted mineral exploration and development company, announced it has entered into a binding option agreement with Windfield Metals Pty Ltd to acquire a 51% interest in two exploration licences prospective for Direct Shipping Ore iron ore in the Pilbara region of Western Australia. Entering into this agreement is a significant step towards the delivery of Alien’s strategy of building a portfolio of mining projects which demonstrate development upside in global jurisdictions with an established infrastructure and mining codes, where strong operational controls can be assured.

Alien is currently exploring for silver and gold in Mexico’s richest silver mining belt, with the option agreement with Windfield allowing Alien to diversify its assets base in a tier one mining jurisdiction. The Company will continue to assess various precious and base metal projects and expand its asset base over the coming year.

Ormonde Mining PLC (ORM) 2.70p £10.40m

The Board of Ormonde provides an update on the Barruecopardo Tungsten Mine in Salamanca, Spain. The Mine, currently in the first year ramp-up operational phase, is operated by Saloro S.L.U., in which Ormonde holds a 30% beneficial interest.

Improved mined ore grades as mining in the southern starter pit transitions downwards to fresh ore and northwards towards the main orebody;

Significant progress on waste stripping of the east-wall cutback also achieved, such that initial access to the main orebody is expected early in the fourth quarter;

The Mine’s saleable concentrate inventory has been building during the initial months of operation, with Saloro preparing initial shipments of tungsten concentrates for sale within the next weeks;

To provide Saloro with additional liquidity support, as it establishes ore mining operations on the main orebody in the coming months, Saloro is in the process of finalising a €10 million, 12 month loan facility, with Oaktree Capital Management;

Eve Sleep (EVE) 3.40p £12.78m

eve Sleep, a direct to consumer sleep wellness brand operating in the UK, Ireland and France announces that the early stage merger talks with Simba Sleep Ltd, first announced on 12 August following media speculation, have ended. The board of eve has decided that now is not the right time to pursue the potential merger and that it is more appropriate to focus on the eve rebuild plan, as previously communicated to investors in the Company’s 2018 results announcement on 12 March 2019. The board will continue to seek further acquisitive growth opportunities, in addition to its focus on driving organic growth, in order to support its focus on a path to profitability.

ULS Technology (ULS) 46p £34.71m

ULS Technology, the provider of online B2B platforms for the UK conveyancing and financial intermediary markets, announces that it was informed on the afternoon of 19 September that it has been unsuccessful in re-tendering for an existing contract.  The Company will continue to provide services to the customer during its notice period, and given the timing of this decision, anticipates only a relatively minor impact on its financial results for the year ended 31 March 2020.  The loss of this contract is expected to have an impact of £0.4-0.5m on the Company’s profit before tax from the year ended 31 March 2021.

The trading performance of the business otherwise continues to be robust in the face of market headwinds.  Both the ULS and CAL operating divisions continue to add new customers, reducing customer concentration.  The Company’s Digital Move product is receiving very positive feedback and has now been used by over 1,000 consumers.

Midatech Pharma (MTPH) 5.8p £22m

Midatech Pharma, the R&D biotechnology company focused on delivering innovative oncology and rare disease products to patients, announces it has received approval to commence a Phase 1 study on MTD201, which it is developing for the treatment of acromegaly and neuroendocrine tumours (NET).  This is the next stage in the Company’s development plan for MTD201 as outlined in the Company’s announcement on 13 June 2019.

The objective of this Phase I study is to investigate subcutaneous administration as an additional injection route, compared to intramuscular administration.  The study, which is being conducted in 28 healthy subjects, can now commence, with data available towards the end of 2019 or early in 2020.  The objective is to determine the administration route for the pivotal registration study to be commenced in 2020.

Oncimmune (ONC) 90p £57m

Oncimmune Holdings, a leading global immunodiagnostics group, today announces that it has secured a credit facility of 8.5 million with IPF Management SA.

Under the terms of the Facility, Oncimmune will immediately draw down an initial  €5 million with the remaining €3.5 million to be drawn down within six months. The Facility is for a four-year term, although it can be repaid early.

The Company intends to use the net proceeds from the Facility to drive commercial adoption of EarlyCDT® Lung, which we aim to accelerate following the recent announcement of successful results of the ECLS study at the World Conference on Lung Cancer 2019, Barcelona; bring to market other potential EarlyCDT indications as well as progressing current regulatory processes for EarlyCDT Liver. The Facility will also be used to provide business development resource for Protagen Diagnostics for which we are seeing strong demand for its services.

Ascent Resources (AST) 0.25p £7.22m

Ascent Resources, the independent oil and gas exploration and production company, operating in the Petišovci Gas Project in Slovenia, is pleased to announce that it has entered into a subscription agreement for £1,080,500 before costs, with RiverFort Global Opportunities PCC Limited, through a subscription for 393,000,000 shares at 0.275 pence per ordinary share, a premium of 10% to the closing bid price on 19 September 2019.

Gama Aviation PLC (GMAA) 75p £47.7m

Gama Aviation Plc, the global business aviation services company, today announces Daniel Ruback’s appointment to the post of Chief Financial Officer (“CFO”).  Daniel’s appointment will be effective from 16th December 2019 when he will also join the Company’s Board.

Daniel is Finance Director, Signature Flight Support EMEA, a part of BBA Aviation plc, the world’s largest fixed base operation (FBO) network operator with over 200 global locations.

Head Chef:

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

*A corporate client of Hybridan LLP

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