Small Cap Feast

Small Cap Feast – 24 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.

Small Cap Feast

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.

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 Small Cap Feast 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

EMIS Group (EMIS.L) 894p £562m

Trading update from the specialist  in connected healthcare software and services, announced a trading update for the year ended 31 Dec 2018.

Trading for the year was in line with the Board’s expectations. Full year revenue was ahead of the comparative period as the Group continued to benefit from growing recurring revenues and strong market shares. 

The Group has a strong balance sheet with net cash of £15.6m as at 31 Dec 2018 (31 Dec 2017: £14m), following payment of all amounts due under the settlement agreement with NHS Digital announced on 7 Dec 2018.

 

Aquis Exchange (AQX.L) 587.5p £159.5m

The exchange services group which operates the pan-European cash equities trading MTF (multilateral trading facility), Aquis Exchange, and develops and licenses exchange software to third parties, announced that its wholly-owned French subsidiary, Aquis Exchange Europe, has received approval from the relevant French authorities to operate an MTF in Paris. This will enable Aquis to continue providing stock trading services to its Members across Europe following the UK’s planned departure from the European Union (Brexit), which may be as soon as end March 2019.

 

Nautilus Marine Services (NAUT.L) 7.75p £3.77m

The Company intends to increase its efforts toward the near-term divestiture of the Company’s oil and gas assets located in Colombia in response to escalating interest being expressed by multiple parties during late 2018.  

As previously stated in the Company’s 2018 Interim Report, the Company began evaluating divestment and strategic partnering opportunities for its oil and gas assets, which consist of the Bolivar and Bocachico contract areas within the Middle Magdalena Valley Basin of Colombia during the prior year.

 

ReNeuron Group (RENE.L) 50.22p £15.9m

The specialist in the development of cell-based therapeutics, is pleased to announce that the first patient has been treated in the US Phase IIb clinical study of the Company’s CTX cell therapy candidate for stroke disability. The study, designated PISCES III, is a randomised, placebo-controlled clinical trial involving 110 patients across 40 clinical trial sites in the US. The primary end-point of the study is a comparison of the proportion of patients in the treated and placebo arms showing a clinically significant improvement on the Modified Rankin Scale, a measure of disability and dependence, at 6 months post-treatment compared with baseline.  Top-line results from the study are expected in early 2020.

 

Biome Tech (BIOM.L) 545p £12.9m

The bioplastics and radio frequency technology business, today provides a pre-close trading statement for the financial year ended 31 Dec 2018.

Group revenues for the year were £8.8m, a 42% increase on the 2017 revenues of £6.2m. EBITDA up year on year. Cash £2.6m.

Revenues in the Bioplastics division for the year ended 31 Dec 2018 were £1.9m, a 17% reduction on the previous year. “We continue to build a more diverse and extensive portfolio of bioplastics applications with new and existing customers”.

Revenues in the RF Technologies division for the year ended 31 Dec 2018 were £7.0m (2017: £4m), a 75% increase on the previous year.

 

Quixant (QXT.L) 280p £185.8m

The  provider of innovative, highly engineered technology products principally to the global gaming industry, updated on trading for the year ended 31 Dec 2018.

Overall, Group revenues are expected to be c. $115m, slightly lower than current market forecasts of $120m, predominantly as a result of the decline in gaming monitors, leading to adjusted profit before tax also being slightly lower than market expectations of $18.98m. Net cash at 31 Dec 2018 was approximately $9.9m.

“I am pleased that our core gaming platforms business has continued to perform strongly, growing revenues and market share in what has proved to be a challenging year for the global gaming industry.”

 

Science Group (SAG.L) 210p £84m

Strategic review. Sale process not to be progressed. The Board concluded that In the current market, was unlikely to deliver the most attractive outcome for shareholders and was terminated. Trading to the end of Dec 2018 continued in line with the Board’s expectations.

The Strategic Review concluded that the primary use of the capital resources of the Company should be to increase the scale of the Group through acquisitions and organic investment. For such a strategy to be effective, the Board considers it essential that resources are readily accessible in order to be able to successfully execute transactions in a timely and competitive manner.  The Board will continue to seek organic investment opportunities and acquisitions to build on the current science and technology-based services business. However target criteria has broadened.

 

SimplyBiz (SBIZ.L) 165p £126m

Pre-close trading statement from the  provider of compliance and business services to financial advisers and financial institutions in the UK. The Group has performed strongly throughout the year, with trading in line with management expectations.

Strong revenue growth converted to strong adjusted EBITDA growth, above management expectations, and expansion of EBITDA margin compared to 2017

Strong balance sheet, with net cash of £6.4m (31 Dec 2017: net debt of £23m), increased from net cash of £1.2m at 30 June 2018, reflecting strong operating performance and the beneficial impact of capital raised at IPO.

Group membership numbers increased by 8.5% to 3,726 (31 Dec 2017: 3,433)

 

Infrastrata (INFA.L) 1.21p £13.5m

The UK quoted company focused on the development of natural gas storage capacity, announced that it has raised £1.5m at 1.2p.

The Company continues to make progress with all potential equity providers for the Islandmagee gas storage project and detailed negotiations are underway with numerous parties who are at various stages of their due diligence and term sheet discussions.

 

Startup Giants (NEX:SUG) 85p £0.9m

Startup Giants has commenced a programme to raise additional permanent investment capital of up to £3m. The initial tranche of the Programme consists of a placing of approximately £200k.

The Placing shall be priced by reference to the price at close of business today

Startup Giants is a UK-based startup accelerator that invests in tech startups in the UK at the pre-seed stage, then participates on subsequent seed and expansion rounds.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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