Small Cap Feast

Small Cap Feast – 23 January 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 916

Total number of AIM Companies trading: 846*
* As at 15 January 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 15 January 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: 130*
* As at 15 January 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 (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.

Main Market (Standard)

AIM

Circassia Pharma (CIR.L) – specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb.

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 late January 2019.

Chaarat Gold Holdings—RTO, the Company intends to acquire Kapan Mining and Processing CJSC, which owns the Shahumyan medium-sized polymetallic mine in Kapan in the Republic of Armenia. No raise, market cap of £110.1m, due early Feb

Breakfast Buffet

Block Energy (BLOE.L) 3.5p £8.68m

The exploration and production company focused on the Republic of Georgia,  announced that sidetracking operations from the existing 16a wellbore on the West Rustavi field  commenced today.  16a is part of an initial two-well horizontal sidetrack drilling programme at West Rustavi targeting combined gross production of 650 bopd from the proven Middle Eocene formation by the end of H1 2019. 

The target reservoir is at a depth of approximately 2,100m which the Company estimates to have had an original oil column up to 600 feet thick.

 

StatPro (SOG.L) 125.5p £83.21m

The provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, announces a trading update for the year ended 31 Dec 2018.

Group revenue  expected to be approximately £54.7m, up 11% (2017: £49.3m)

Group Adjusted EBITDA expected to be approximately £9m, up 32% (2017: £6.8m) –

Adjusted EBITDA margin over 16% (2017: 13.9%)

“Following a period of investment in cloud technology, the rapid changes in the asset management industry and our deepening relationships with asset management service providers, we are strategically well placed for growth.”

 

H&T Group (HAT.L) 287p £101.3m

FYDec18 update.

“Following a strong quarter four performance for pawnbroking and retail, at this stage we anticipate the full year profit before tax to be in line with the Board’s and current market expectations.”

Pledge book increasing by 8% due to increased customer numbers and an increase in loans on quality watches; 

35% growth in the Personal Loans book because of the expansion in our longer term, lower interest rate loan product;

The continued momentum of the jewellery retail business that delivered 7% sales growth on prior year;

Strong income growth from the foreign exchange segment, up 22% on prior year.

 

Harwood Wealth (HW..L) 145p £90.6m

FYOct18 results from the UK-based financial planning and discretionary wealth management business.

Assets Under Influence up 26% to £4.8m.

Assets Under Management up 42% to £1.7m.

EPS up 61% to 1.9p.

FY div up 8% to 3.5p.

Nine acquisitions completed in the period for consideration of £10.7m (£9m net of cash acquired)

Cash balance at year end £13.6m, £4.2m available for acquisitions

 

Escape Hunt (ESC.L) 89.5p £17.7m

FYDec18 update from the specialist in the high growth escape rooms sector.

In respect of the Company’s eight owner-operated sites opened in FY18, the Board is pleased with their early performance, with sales in line and EBITDA slightly ahead of Board expectations.

For the Group overall, the Board confirms that the full year Group results for FY18 are expected to be in line with Board expectations.

Three owner-operated sites opened in March 2018 continue their strong progress

Five new owner-operated sites which opened in the last quarter of the year are showing positive early signs, with both sales and EBITDA well ahead of Board expectations.

 

Empresaria Group (EMR.L) 66.5p £32.84m

FYDec18 update from the international specialist staffing group. The Group is expected to deliver a 4% increase in both net fee income and adjusted profit before tax against the prior year. This profit represents another historic high level for the Group.  Due to the mix of profit across brands with different non-controlling interests, diluted adjusted earnings per share is now expected to be slightly lower than the prior year.  “We are investing approximately £0.5m in 2019 to strengthen our central management team, including the appointment of Rhona Driggs as COO in Nov 2018.  This will enable us to increase the support to our brands in the key areas of business development, technology, training and marketing to drive incremental value as part of our strategy to build leading brands in niche sectors.”

 

Scancell Holdings (SCLP.L) 8.12p £37m

The developer of novel immunotherapies for the treatment of cancer, notes today’s press release from Cancer Research UK announcing the winners of its Grand Challenge award.

Scancell congratulates the winners of the Award and was delighted that Project Blueprint, “Eradicating Established Tumours with Unique Cancer Vaccines”, a proposal submitted by the Company together with BioNTech, Genentech and ISA Pharmaceuticals, was shortlisted.

Project Blueprint was devised to investigate the potential of cancer vaccines, based on treatment with Modi-3, a product generated from Scancell’s Moditope® platform, alongside vaccines targeting new mutations within individual patient tumours, for the treatment of virtually all cancers.

 

Clearstar (CLSU.L) 63.5p £21.9m

Trading update from the  technology and service provider to the background check industry. The Company expects to report its highest ever annual revenue and achievement of positive EBITDA, both in line with market expectations. Highlights of the period include:

Annual revenue growth of approximately 13% to $20.1m with acceleration. H2 2018 revenue was 15% higher than H2 2017

Adjusted EBITDA positive for full year 2018 compared with a loss for 2017. Strong revenue growth in direct services business channel of 28% year-on-year. 

David Pattillo to step down as CFO.  Jennifer Balleza, who has been the Company’s Financial Controller since June 2014 prior to the IPO, has been appointed Interim CFO.

 

Hotel Chocolat (HOTC.L) 282.5p £304.6m

The “premium British chocolatier and omni-channel retailer, today announces the following trading update for the 13 weeks ended 30 Dec 2018.

Total Group revenue for the period increased 15% compared to the prior year.

Retail, digital and wholesale channels all achieved growth. The business opened 15 new stores during the six months ended Dec and we now have 117 stores in our UK domestic market.

Trading since Dec continues to be in line with management’s expectations. The Board expects to announce the Group’s results for the six months ended 31 Dec 2018 on 26 Feb 2019.”

 

Eagle Eye (EYE.L) 171.5p £43.89m

HYDec18 update from the SaaS technology company that allows businesses to create a real-time connection to attract and retain their customers through digital promotions and loyalty services.

Group revenue increased by 26% to £8.2m (H1 2018: £6.5m)

Adjusted EBITDA loss reduced materially to £(0.5)m (H1 2018: £(1.4)m)

AIR volumes of 430.7m, an increase of 414% year on year (H1 2018: 83.8m)

Recurring revenue, from subscription fees and transactions over the network, represented 72% of total revenue.

Current trading remains in line with the Board’s expectations, on track to move to EBITDA profitability

 

Head Chef:

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

*A corporate client of Hybridan LLP

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