Small Cap Feast

Small Cap Feast – 22 March 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 905

Total number of AIM Companies trading: 835*
* As at 11 March 2019

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 11 March 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 161*

Total number of Standard List Companies trading: 142*
* As at 11 March 2019

Dish of the Day:

No Joiners Today

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)

US Solar Fund, a newly-established investment company focused on investing in solar power assets mainly in the US, looking to raise $250m at $1. Expected 16 April

AIM

Network International Holdings—Pleading enabler of digital commerce across the Middle East and Africa  region, operating across over 50 highly underpenetrated payment markets that contain a total population of 1.5 bn. 2018 rev $298m, underlying EBITDA $152m.  Due April. No new funds to be raised. Secondary sell down. Targeting 25% of at least 25%.

Techniplas –global  producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient.  FYDec17 rev $515m.

Breakfast Buffet

RenalytixAI (RENX.L) 137.50p £74m

The developer of artificial intelligence-enabled clinical diagnostics for kidney disease, announced today the formation of the core investigator group to support clinical and regulatory pathways for a portfolio of advanced diagnostic and prognostic solutions in kidney transplant known collectively as FractalDx.

Products under development from FractalDx are anticipated to be part of the extended RenalytixAI pipeline following the introduction of KidneyIntelX in 2019 for the diagnosis of fast-progressing chronic kidney disease. RenalytixAI hopes to commercialise a range of advanced diagnostic tests that are expected to aid in accurate dosing of immune-suppression therapy and in making significant improvements in the identification of and monitoring for kidney transplant rejection.

 

Intosol* (INTO.L) 35.00p £4.30m

The award-winning international luxury travel company, has signed a five-year management contact,  adding SOUL on the Heads, a luxury six-suite operating hotel located in Knysna in the Garden Route in South Africa, to its SOUL Private Collection (www.soulprivatecollection.com) of owned and manged boutique hotels. The Contract, subject to a profit share agreement, strengthens INTOSOL’s portfolio following the recent addition of SOUL Rainbow’s End and provides an additional revenue stream for the Company. “Since our IPO in October 2018, we have delivered on our strategy to increase revenues and margins through bolstering our SOUL Private Collection of owned and managed boutique hotels. In line with this, we have added three luxury properties to our portfolio and are confident that they will have a significant impact on the long-term profitability of the Company.”

 

FireAngel (FA..L) 19.50p £8.73m

One of Europe’s leading developers and suppliers of home safety products, announces that it is to supply smoke and heat alarms to a further housing association in Scotland.

FireAngel will supply Falkirk-based Link Group with the Group’s wireless interlinked mains-powered and battery-powered smoke and heat alarms.

 

The agreement with Link Group, that manages 10,000 properties, is the latest in a series of related wins for FireAngel, follows the requirement from 1 February 2019, for greater safety standards as part of the Housing (Scotland) Act. 

 

Live Company Group (LVCG.L) 56.50p £40.51m

Three year licence agreement with PALEXPO SA (“PALEXPO”) to promote, manage and operate an annual BRICKLIVE show in Palexpo, Geneva, Switzerland (the “Agreement”).  Palexpo is a convention centre in Geneva, Switzerland, which hosts numerous events including the Geneva Motor Show.

This will be the Group’s first BRICKLIVE show to be held in Geneva. Under the terms of the Agreement, PALEXPO will deliver one show per annum up until the end of 2021, with the Group receiving an annual licence fee. The first BRICKLIVE Show will be held at the end of October 2019 and will feature BRICKLIVE Ocean as the centre piece, which is the Group’s newest addition to its touring assets.

 

Starcom (STAR.L) 1.27p £3.67m

The Specialist in the  development of wireless solutions for the remote tracking, monitoring and protection of a variety of assets, updated on the agreement with WIMC Solutions Inc  for the sale of Tetis units.   To date, WIMC has placed orders for only 1,500 Tetis units under this agreement and these were delivered to WIMC during 2018. Although this number of units is less than previously indicated, following successful testing of the Tetis units in the field and acceptance by end customers, the Company has entered into a replacement agreement. There is no obligation for WIMC to order any units under the agreement and therefore there is no guarantee that WIMC will ultimately order the maximum number of units indicated under the new agreement, but WIMC has indicated that it expects order levels for 2019 to be up to 3,400 units, which would have an aggregate value of up to US$660k.

 

Solo Oil (SOLO.L) 1.32p £8.69m

Strategy update: Solo  is seeking to assemble a balanced, full lifecycle portfolio comprised of production, development and exploration assets that provide a sustainable path for growth alongside funded G&A. Net production target of at least 5,000 boepd within the next three years.

  •  Transition to an operating company to provide Solo greater control over the outcome of its investment decisions;
  • Disciplined investment strategy to be delivered by capital efficient transactions;
  •  Transition to an operating company
  • Strong pipeline of deal flow – Solo has recently evaluated more than 15 target acquisitions across a number of geographies and the Company remains active in a number of ongoing processes

 

Maistro (MAIS.L) 1.25p £5.21m

FY  Dec 18 results from the  UK-based company which provides an online marketplace for businesses seeking vetted service providers. Revenue up 154% to £1.5m. The adjusted EBITDA loss increased 1% to £2.11m (2017: £2.08m) due to increased investment in business development activities which has significantly contributed to the revenue growth in 2018. Cash of £1.1m. AI, Supplier Onboarding and Vetting and workflow improvements have been the main additions in 2018.  “The roadmap for 2019 will continue to further refine these themes with the ultimate objective of moving towards a “Self-Serve” offering for lower value commodity projects. For higher value complex projects Maistro will continue to utilise the PaaS Platform for sourcing the right supplier but with the added managed service offering of a “human in the loop”. This combination of technology and managed services has been a key element to our success in 2018 with large global Enterprise customers.”

 

Reabold Resources (RBD.L) 0.62p £22.94m

Reabold is pleased to announce that Integrity Management Solutions has commenced drilling operations at the Burnett 2B well within the Monroe Swell field, onshore California, in which Reabold expects to earn a 50 per cent. equity interest.  The drilling of Burnett 2B follows the successful Burnett 2A well drilled on the Monroe Swell field, as announced on 11 March 2019. Following the Burnett 2A drilling results, Reabold and IMS, made the decision to seek accelerated permitting for the Burnett 2B well, which was successful.  The drilling rig was retained at Monroe Swell and, accordingly, is now drilling the 2B well. Assuming success at Burnett 2B, both wells at Monroe Swell will be tested following the completion of drilling activities and put onto production shortly after.  Following the drilling  and completion of Burnett 2B, Reabold will have completed its earn-in to the Monroe Swell licence area and will be assigned a 50 per cent.  equity interest.

 

KCOM (KCOM.L) 70.00p £361.62m

The Group will announce the results of a review of group strategy on 26 April 2019, instead of on 27 March 2019.  Graham Sutherland (CEO) and Anna Bielby (CFO) will present their strategy which follows on from Graham’s appointment in October last year.

 The Group confirms trading and net debt remains in line with market expectations for the financial year ending 31 March 2019. As previously stated, the Board expects to propose a final dividend for the year of not less than 2p per share.

 

Oxford Instruments (OXIG.L) 1,020.00p £585.23m

The provider of high technology products and systems for industry and research, today announces winning the global tender to supply its market leading cryogenic equipment to the Institute of Physics-Chinese Academy of Sciences.

“This is an excellent example of the growth we are seeing from customers involved in Physical Science Research and Quantum Technologies where our key enabling technologies and advanced solutions enable fundamental research and accelerate our customers applied R&D.”

 

Head Chef:

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

*A corporate client of Hybridan LLP

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