Small Cap Feast

Small Cap Feast – 21 December 2018

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 921

Total number of AIM Companies trading: 849*
* As at 17 December 2018

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 17 December 2018

Set Menu Standard List:

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

Total number of Standard List Companies trading: 130*
* As at 17 December 2018

Dish of the Day:

No Joiners Today

Off the Menu:

Juridica  Investments has left AIM following  the appointment of liquidators

Dish of the Day:

No Joiners Today

Off the Menu:

Juridica  Investments has left AIM following  the appointment of liquidators

What’s Cooking in the IPO Kitchen?

Nex Exchange

Gamfook Jewellery—a custom jewellery designer and retailer in China . No funds being raised. Due 24 Dec. Mkt cap £15m.

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.

AIM

PetroTal Corp is an oil and gas company whose shares are currently admitted to trading on the TSXV. The Company is focused on development of oil and gas assets in Peru and it currently has controlling interests in three onshore Peru license blocks. No new funds being raised.  Due 24 Dec.  Mkt cap c.£80m

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 mid December.

 

Breakfast Buffet

Transense Technology (TRT.L) 51p £6.14m

 AGM Statement.

“”iTrack II recurring monthly subscription revenues continue to increase, including the recent success in Latin America as announced in November 2018. The net loss for the current year to date is in line with the corresponding period in the prior year notwithstanding reduced overall Group revenues, reflecting lower tyre probe and iTrack II hardware sales, mitigated by the growth in iTrack II recurring subscription revenues. Group trading results measured at EBITDA level and operating and net cash outflows each show an improvement over the corresponding period last year. We continue to believe that the iTrack II system provides the most technologically advanced solution for mine haul truck TPMS globally and we are steadily increasing our market share.”

“Our relationship with General Electric Co. to commercialise SawSense technology continues to strengthen in breadth and depth, and opportunities to expand our reach into new applications look promising. Accordingly, the Board look forward to 2019 with optimism.”

 

GAN (GAN.L) 48p £40.8m

GAN Announces Partnership with Major European Slot Manufacturer, SYNOT. contract value in excess of £400,000  .

GAN will distribute six SYNOT-designed premium casino games, including their flagship slot title, “Alchemist’s Gold”, to the US market through GAN’s proprietary ‘GameSTACK’ Internet Gambling Platform (IGS). The multi-year deal includes paid-for development fees and ongoing revenue-share participation throughout the term. All games are expected to be launched and fully functional by the end of 2019 and will be released as both Simulated Gaming and Real Money Gaming titles contingent on US regulatory State laws.

 

Goldstone Resources (GRL.L) 0.95p £2.4m

Update on activities at its Akrokeri-Homase Gold Project (“AKHM” or “the Project”) in the Ashanti Region of Ghana.   Progress continues to be made at the high grade Akrokeri Mine within the area that hosts the numerous artisanal shafts and pits, whereby work continues to make safe the shallow workings, and those that have been accessed are being mapped.

As part of the Scoping Study along the 8 km Homase Trend, a pilot heap leach project is underway to determine parameters for near term development including the period required for leaching and potential gold recoveries through heap leach treatment .  First 40 days are showing recoveries of 67.5%.  As part of the Scoping Study along the 8 km Homase Trend, a pilot heap leach project is underway to determine parameters for near term development including the period required for leaching and potential gold recoveries through heap leach treatment .

 

Advanced Oncotherapy (AVO.L) 37.5p £63.6m

The developer of a next-generation proton therapy system for cancer treatment, announces that it intends to issue 25,000,000 new ordinary shares of 25 pence each (“Subscription Shares”) in the capital of the Company at a price of 40 pence per share (the “Price”) through a direct subscription (the “Subscription”) raising £10.0 million for which it has received firm commitments from new and existing investors. The Subscription is conditional upon the passing of certain resolutions, in order to allow the directors to issue the Subscription Shares, for which Shareholder approval will be sought at a general meeting of the Company scheduled on 21 January 2019. A circular containing the notice of the general meeting will be posted to shareholders by Monday 24 December.

Water Intelligence (WATR.L) 255p £35.4m

The “leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water is pleased to kick-off 2019 early with a significant municipal contract win in Sydney, Australia.

A few weeks ago, the Company provided a trading update for Q3 that reinforced its previous 1H guidance on strong growth for 2018.  We noted that our overall trajectory was approximately 40% sales growth with the mission of “sustainable multinational growth” for 2019 and beyond. With this municipal win in Australia, accompanied by recent smaller municipal wins in the US in Michigan and New York, the Company is off to a good start to meet its 2019 growth plan.

The contract in Sydney is a multi-year contract anticipated to contribute approximately US$1 million to 2019 sales.”

 

Novacyt (NCYT.L) 34.5p £13m

The international specialist in clinical diagnostics, today announces the launch of its next CE-Marked approved molecular products, the genesig® Real-Time PCR BK virus (BKV) Kit (CE) and genesig® Real-Time PCR Epstein-Barr Virus (EBV) Kit (CE). These clinical products follow the launch of a Zika assay in the second half of 2017 and are the first of an expanding menu of molecular diagnostic tests for monitoring post-transplantation and immunosuppressed patients. 

The new molecular kits have been developed to provide quantitative detection of viral DNA extracted from blood plasma and urine (BKV kit), or blood plasma and whole blood (EBV kit) from immunocompromised patients. The kits have been designed to run using the Roche LightCycler 480 PCR instrument. Novacyt believes there are over 2,000 LightCycler instruments installed worldwide and the availability of these kits will mean clinical labs running these PCR instruments will now be able to benefit from running these assays. “

 

Yew Grove REIT (YEW.L) €1.01 €75m

“Yew Grove REIT plc, which owns a diversified portfolio of Irish commercial property assets, is pleased to announce that it has exchanged contracts on the acquisition of three office properties, located in the IDA Business Park, Letterkenny, County Donegal for an agreed price of 16 million, representing a net initial yield of 8.35 per cent. after accounting for all purchase costs.

The buildings are tenanted by Optum Operations (Ireland) Ltd under a 10 year lease with nine years of certain term remaining. The leases are guaranteed by Optum’s parent, the United Health Group, the largest healthcare business globally and one of the US’s largest corporations by revenue.”

Negotiations and due diligence on recently announced acquisitions and potential further near-term acquisitions have taken somewhat longer than anticipated, with the result that the dividend for the period from IPO to 31 December 2018 is now expected to be marginally below the lower end of the previously guided range. Of 1c. Confident to reiterate dividend guidance of 7c per share for financial year 2019 based on the current share count. 

 

Craneware (CRW.L) £23.70 £630m

Craneware (AIM: CRW.L), the market leader in Value Cycle solutions for the US healthcare market, notes the recent movement in its share price and provides an update on trading to date in the six months ending 31 December 2018.

The Group is pleased to announce that it has continued to perform strongly in the first half of the financial year, with good levels of sales activity and customer renewals by dollar value continuing at their historic average of 100%.

The Group expects to report increases in both revenue and adjusted EBITDA in the range of 15% to 20% for the six month period ending 31 December 2018, continuing the double digit growth delivered in prior years.

With the record sales performance in the previous period, continued sales momentum and high levels of revenue visibility, the Board remains confident in meeting market expectations for the full year ending 30 June 2019.

 

Milamber Ventures (NEX:MLVP) 7p £1m

The Company has entered into a partnership with Black Arrow Space Technologies Limited (“Black Arrow”), a British space company looking to re-energise the UK Space Programme by delivering commercial orbital launch services. Milamber is appointed as a strategic business development advisor, supporting Black Arrow through its funding process, as well as entering a Joint Venture to develop the company’s Education initiatives.

Furthermore AstroTanks Ltd, a wholly owned subsidiary of Black Arrow, has been awarded a grant of GBP1 million by the UK Space Agency, subject to match-funding, to build its specialised “AstroTanks”, which are market-leading, reliable and mass-efficient tanks for satellite propulsion. These tanks will be used within the satellite sector.

 

Wishbone Gold (NEX:WSBN) 0.115p £2.5m

£300k placing by the gold trading and exploration company at 0.1p.

The proceeds of the Placing will be used to accelerate production from the newly licensed Honduras gold facility, pursuing potential new opportunities and for general working capital purposes.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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