Small Cap Feast
Small Cap Feast – 25 October 2019
Dish of the Day:
No Joiners Today
No Joiners Today
Off the Menu:
No Leavers Today
No Leavers Today
What’s Cooking in the IPO Kitchen?
Main Market premium
African Export-Import Bank a supranational financial institution whose purpose is to facilitate, promote and expand intra- and extra- African trade, of its potential intention to publish a registration document, the Bank hereby confirms its intention to proceed with an Initial Public Offering. The GDRs are expected to be admitted to the standard listing segment of the Official List of the FCA and to trading on the Main Market of the LSE.
DNEG Limited intends to apply for admission of its Shares to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange’s main market for listed securities. The Offer will be comprised of new Shares to be issued by the Company (to raise expected gross proceeds of £150m). Admission is expected to take place in November 2019.
VR Education Hldgs (VRE) 6.75p £11.6m
VR Education a leading virtual reality technology company focused on the education and enterprise training space, announced that the Group’s ENGAGE platform has been selected by Facebook (NASDAQ:FB) for its Oculus Independent Software Vendors (‘ISV’) programme. The Oculus ISV programme works with enterprise developers and software companies to engage with Oculus in order to accelerate customer adoption of VR solutions built for Oculus enterprise products. As a result, following the anticipated roll-out of Oculus for Business in early 2020, VR Education’s ENGAGE platform will, for the first time, be available via a special portal for Oculus enterprise clients to access and connect with. In addition, the Group will be one of only a few select developers who will able to provide services using Facebook equipment as well as receiving additional support from them.
Telit Communications (TCM) 169p £224.8m
Telit Communications a global enabler of the Internet of Things (IoT), announces a successful series of tests of its new industrial-grade FN980m 5G data card.
Conducted on a live 5G network in Korea, the tests highlight Telit’s leadership in providing businesses and other organizations with 5G solutions for industrial routers and gateways, fixed wireless access, video broadcasting, private LTE/5G networks and more. Telit defined its 5G strategy and development plan in 2018 and began the development of its first 5G product in 2019 to address the demand for high bandwidth products.
The new Telit FN980m 5G data card is designed for use globally, incorporating support for all scenarios prescribed by the 3GPP for short-, mid- and long-term scaling of 5G, including non-standalone LTE-5G NR dual connectivity (EN-DC), dynamic spectrum sharing between LTE and 5G, and full 5G NR standalone mode.
Seeing Machines Ltd (SEE) 4.65p £155.6m
Seeing Machines Limited the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has signed a contract with Bison Transport Inc, one of Canada’s most prestigious transport companies, to install Guardian into its fleet.
Bison Transport has been named North America’s Safest Fleet by the Truckload Carriers Association and the American Trucking Associations, and is one of the largest carriers in Canada. With over 2,500 employees, Bison serves Canada and surrounding US states with haulage and logistics services.
Following the recent completion of an initial trial, Seeing Machines will install Guardian, the Company’s retrofit driver monitoring technology for commercial transport and logistics fleets, into around 120 Bison trucks, with installation to commence immediately.
Stenprop Limited (STP) 109p £308m
Stenprop, the UK multi-let industrial property company, today publishes a trading update for Q3 2019, the period from 1 July 2019 to 30 September 2019.
“Continued leasing success and significant rental growth
Multi-let industrial portfolio lettings:
We completed 22 new lettings and 9 lease renewals generating £ 648,142 of contractual income over 104,633 sq ft. The average rental uplift on the previous passing rent was 21% on new lettings (Q2 2019: 24%) and 19% on lease renewals (Q2 2019: 16%). The average rental incentive given across all new lettings and renewals was 2.5 months on a 5.08-year average term
The average rent on the MLI portfolio is now £5.14 /sq ft (Q2 2019: £5.08/sq ft), reflecting a 1.2% increase in passing rent from the previous quarter. The current passing rent is 7.8% below the average estimated rental value of the portfolio of £5.57/sq ft (Q2 2019: £5.50/sq ft)”
SCISYS Group (SSY) 255p £75.7m
SCISYS Group, the supplier of bespoke software systems, IT-based solutions and support services to the space, media & broadcast, government, defence and commerce sectors, announces that it has received regulatory approval from the German Federal Ministry of Economics and Energy in respect of the anticipated acquisition by CGI Group Holdings Europe Limited of SCISYS Group plc. All of the general regulatory and anti-trust/competition conditions relating to the Scheme as set out in paragraph 3.1 of Part 5 of the Scheme Document have now been satisfied.
SDX Energy (SDX) 22p £45m
SDX Energy, the MENA-focused oil and gas company, announces the commencement of a 12 well drilling campaign, targeting a mean 15bcf of gross unrisked prospective resources, in its operated Gharb Basin (SDX: 75% working interest) acreage in Morocco.
The first seven wells located in the Company’s core producing concessions at Sebou and Gharb Centre are lower-risk appraisal wells targeting prospects which are close to existing infrastructure. These wells can be tied in quickly, at low cost, and are similar in geological risk to the discoveries already made and producing in this area.
Begbies Traynor (BEG) 85p £105.25m
Begbies Traynor Group announces the acquisition of the entire issued share capital of Alexander Lawson Jacobs Limited (“ALJ”), a London-based insolvency and business recovery practice.
ALJ is a well-established firm and is ranked as a top 20 UK insolvency practice (by insolvency appointments). The team of 24 directors and employees will join the group and enhance our existing strong network of offices across London and the South-East.
In the financial year ended 30 June 2019, ALJ reported annual revenue of £3.1 m and pre-tax profits of £0.9 m.
Base Resources Limited (BSE) 13.2p £154m
African mineral sands producer, Base Resources Limited advises that, following performance testing of the 2016 cycle of rights issued pursuant to the Base Resources Long Term Incentive Plan (LTIP) as at 30 September 2019, a total of 11,514,341 performance rights have vested. Subsequent to vesting, 4,986,734 new fully paid ordinary shares in Base Resources have today been issued for the benefit of LTIP participants that elected to immediately exercise their vested performance rights.
Oxford BioDynamics (OBD) 94.5p £87.5m
Oxford BioDynamics, a biotechnology company focused on the discovery and development of epigenetic biomarkers based on regulatory genome architecture, for use within the pharmaceutical and biotechnology industry, is notes that Mitsubishi Tanabe Pharma America, Inc. has announced that the first patient has been enrolled in the REFINE-ALS clinical study, designed to identify and measure specific biomarkers and clinical assessments in up to 300 people with amyotrophic lateral sclerosis (ALS) in the United States who have begun treatment on RADICAVA®
Concepta (CPT) 1.85p £4.9m
The innovative UK personalised healthcare company and developer of the proprietary self-test platform (“myLotus®”) the most accurate home-use fertility tracking and pregnancy testing system available on the U.K. market, announces today the appointment of Mrs Madeleine (“Maddy”) Kennedy FCCA, as Chief Financial Officer and Director on the Concepta PLC board.
Maddy Kennedy has previously acted as interim CFO for Ieso Digital Health and PsiOxus Therapeutics, was CFO for Lab21 and Finance Director at Alliance Pharma plc, taking it through its IPO.
0203 764 2344
*A corporate client of Hybridan LLP
This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to any such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific person or entity and is not a personal recommendation to any such person or entity. Recipients should reach an individual investment decision, based upon their respective financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, such information has not been independently verified and therefore it is not possible to confirm such information as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.
The content of this document includes market commentary and other information which we have prepared in relation to the company referred to in this document, which is our broking client. The provision of this document to you constitutes a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of Regulation 600/2014/EU (MIFID II Regulation).
Any and all opinions expressed are current as of the date appearing on this face of this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, constitutes non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook to reflect the requirements of the MIFID II Regulation and Directive 2014/65/EU (known as MIFID II)). The individuals who prepared this document may be interested in shares in the company concerned and/or other companies within its sector, may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as relevant persons). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.
Neither this document, nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Where possible this document is made available to all relevant recipients at the same time. Dissemination of research by Hybridan LLP is monitored to ensure that it is only provided to relevant persons. Research prepared by Hybridan LLP is not intended to be received and/or used by any person who is a retail client.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
MIFID II status of Hybridan LLP research
The cost of production of our corporate research is met by retainers from our corporate broking clients. In addition, from time to time we issue further communications as market commentary (such as our daily newsletter, Small Cap Breakfast), which we consider to constitute a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of the MIFID II Regulation.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.
If you would like to unsubscribe, please email email@example.com with “unsubscribe me”.