Small Cap Feast

Small Cap Feast – 21 November 2018

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 920

Total number of AIM Companies trading: 850*
* As at 19 November 2018

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 19 November 2018

Set Menu Standard List:

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

Total number of Standard List Companies trading: *
* As at 19 November 2018

Dish of the Day:

No Joiners Today

Off the Menu:

Johnston Press has left the main market (premium) following the appointment of administrators

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

Main Market (Premium)

AJ Bell—one of the largest investment platforms in the UK—Expects to publish prospectus end Nov. FYSep18—revenues up 19% to £89.7 million, profit before tax up 31% to £28.4 million.  Secondary sell down, Due December.

Nova Ljuublianska banka—financial and banking institution based in Slovenia with a network of 349 branches,  dual listing process in Ljubliana with GDRs in London. For HYJun18 and for FY17 the Group recorded a net profit equal to EUR 104.8 million and EUR 225.1 million, respectively. 50% plus sell down.  Estimated mkt cap EUR1bn to EUR1.3bn. Due 14 Nov

Sirius Aircraft Leasing Fund targeting a raise of US$250m  – objective is to provide investors with an attractive level of regular income and capital returns through investing primarily in used, single-aisle aircraft. Due early Nov

Main Market (Standard)

Golden Saint Technologies Ltd,  global technology investment company that provides investors with potential return opportunities. The Group has been supplying government organisations and large corporate clients with smart building solutions for the last 20 years, is looking to join the Standard List of the Main Market raising £911,213 at 0.75p. Expected 22 November 2018

MOD Resources—(ASX:MOD) A$78.7m mkt cap.  Copper exploration and development company focused on the central and western Kalahari Copper Belt in Botswana.  Introduction only. Due c.26 Nov.

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 end Nov.

AIM

Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov

Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m.

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 early December.

Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA. Due early Dec

Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is investigating the possibility of AIM admission. The Company is proposing to raise up to £2.25 million before the end of December, conditional on Admission.

The Panoply parent company of a digitally native technology services group founded in 2016 with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, is looking to join AIM. Offer TBC, expected late November 2018.

Nex Exchange

European Lithium—(ASX:EUR)- Introduction to NEX due 26 Nov. mining exploration and development company which wholly owns the Wolfsburg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. Mkt cap c.A$63m

 

Breakfast Buffet

Curzon Energy (CZN.L) 3p £2.20m

The “oil and gas development company, pursuing a targeted acquisition strategy of oil and gas appraisal and development assets, announces that it has entered into a Memorandum of Understanding with Pared Energy, LLC (“Pared”), a privately owned US oil and gas company specializing in Texas-based natural gas projects.”

Curzon is working with Pared to evaluate an opportunity that offers participation in the potential development of a major onshore natural gas project

The project is centred in the South Texas region and offers multi-TCF potential

Pared and Curzon will seek to jointly finance and develop the project

Alpha Growth (ALGW.L) 3.2p £3.66m

“The financial services specialist in the growing Senior Life Settlement (“SLS”) asset class, is pleased to announce that it has signed Heads of Terms with SL Investment Management Limited, (“SLIM”), a UK based full scope FCA regulated alternative investment fund manager, to launch an Open-Ended Fund investing in life settlements. The Fund is expected to launch in the Q1 2019 and has a minimum seed commitment of $10m conditional on the launch. Alpha and SLIM are co-advisors, with SLIM as the regulated manager. The Fund will be open to global investors. The collaboration of Alpha and SLIM is an alliance of the Executive Teams from both companies, knowing and respecting the abilities of each, to create an offering that gives investors the ability to invest in an SLS fund that provides complete transparency and alignment of interest with its investors.

IronRidge Resources (IRR.L) 20.5p £60.62m

Raised approximately £5.4m before expenses  at 20p.

It is intended that the proceeds of the Placing will primarily contribute to working capital and the ongoing development of the Company’s pipeline of gold and lithium projects in Ghana, Chad and Côte d’Ivoire.

“We have made significant progress over the course of 2018, having focused on enhancing the Company’s asset base.  Most notably, the Ghanaian Cape Coast Lithium Project has continued to deliver exciting and potentially world class lithium grades and drill intersections, whilst in Chad, we have uncovered a substantial gold bearing province with a surface footprint rivalling some of today’s largest operating gold mines.”

Judges Scientific (JDG.L) 2,330p £134.3m

The Board of Judges Scientific, a group involved in the buy and build of scientific instrument businesses, updates shareholders and the market on the Group’s trading performance in the financial year ending 31 Dec 2018.

Trading has remained strong since the publication of the interim results and the healthy order intake communicated at the time of the results has continued since the beginning of the second half. As a result, the Board expects Earnings per Share for the full year ending 31 Dec 2018 to exceed current market expectations [FY18E 154.85p] as increased in Sept.

Ethernity Networks (ENET.L) 21p £6.19m

The “innovator of network processing technology and products, announced that it has signed a contract to supply a tier 1 North American aviation and defence OEM with its ENET Switch/Router firmware and software. Ethernity will integrate its firmware on the customer’s FPGA-based avionics platform.

The contract represents $0.4m dollars in short-term revenue for Ethernity, with additional future royalty streams. This agreement is the second announced contract with a Tier 1 OEM for Ethernity within the past month following the company’s announcement on 24 Oct 2018 of a similar networking functionality contract with a tier 1 OEM’s FPGA-based optical networking platform. The total short-term value of the two deals could reach as much as $1m, with considerable ongoing annual royalties.”

Galantas Gold (GAL.L) 5.5p £10.82m

The gold-mine developer and explorer, has been advised by the Court Of Appeal that it has listed for judgement an appeal against the Company’s planning consent, on  23 Nov 2018 at 10am.

An Applicant sought to have the Company’s planning consent for its Omagh gold mine quashed via a Judicial Review in Belfast’s High Court. The Company’s consent was confirmed as a result of that Judicial Review. The Applicant appealed against that decision in the Court Of Appeal and it is this judgement that is awaited.

Ubisense Group (UBI.L) 70.5p £44.22m

The specialist “in enterprise location intelligence solutions, announced that it has signed a conditional agreement to sell its RTLS SmartSpace business unit, including the Ubisense brand, to a company that is owned and controlled by funds managed or advised by Investcorp Technology Partners, an affiliate of Investcorp Bank B.S.C. for up to £35m.”

“This is an extremely positive change for both the RTLS SmartSpace and the IQGeo divisions which the Board believes is in the long-term best interests of both businesses. The proceeds will allow us to refocus and re-brand the retained business as IQGeo and to invest in its myWorld software business which has a significant market opportunity providing solutions to some of largest telecoms and utilities suppliers in the world.”

1PM (OPM.L) 43.5p £39.4m

The “specialist finance provider, announced that it has been voted SME Champion – UK by a Panel of Asset Finance Industry Experts at the prestigious 2018 Leasing Life European Annual Conference and Awards Ceremony, held last week in Tallinn, Estonia. The Conference and Awards Ceremony, now in its 15th year, recognises the achievements of the European Asset Finance industry in 2018 across a number of categories.

The SME Champion Award recognizes those UK-based asset finance lenders who directly engage in supporting the SME market as a whole. The judging Panel were seeking a business with a demonstrable interest in SME markets beyond the provision of finance, combined with clear endorsements from clients, consistent business growth and an ongoing commitment to the SME market, citing specific examples of creative funding solutions and addressing SME market demands in imaginative and innovative ways.

EU Supply (EUSP.L) 11.75p £8.43m

The “the e-procurement software provider, announced that it is continuing to gain sales traction in Germany. This follows further improvements of the Company’s approach with sales agents in Germany and the recent appointment of an in-house application consultant.

As a result, EU Supply has signed two further contracts in Germany, one with a local authority and one with a procurement consultancy specialising in supporting local authorities in defined categories.

In addition, EU Supply has also agreed on a rapid piloting programme with one of the seven county councils in the State of Bavaria, using the CTMTM platform for managing tenders in works categories. Implementation has already started.

Sensyne Health (SENS.L) 170p £228.21m

The British clinical AI technology company, and EY, the multinational professional services firm and one of the “Big Four” accounting firms, today announce a  Strategic Advisory Services agreement. Under this agreement EY will provide ‘design and build’ specialist resources comprising strategy, analytics, cyber, valuation, risk and governance capabilities.

Sensyne Health is enabling healthcare providers and life sciences companies to collaborate ethically using the Company’s clinical AI technology to analyse anonymised patient medical data across multiple linked datasets to improve patient outcomes, reduce healthcare costs and accelerate medical research.”

Head Chef:

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

*A corporate client of Hybridan LLP

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