Small Cap Feast

Small Cap Feast – 25 September 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 879

Total number of AIM Companies trading: 795*
* As at 23 September 2019

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 23 September 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at 23 September 2019

Dish of the Day:

No Joiners Today

Off the Menu:

No Joiners Today

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

Breakfast Buffet

Elektron Technology (EKT) 55p £102.3m

Elektron Technology Plc, is pleased to announce that, further to its announcements of 31 July 2019 and 3 September 2019 in respect of the Proposed Transaction (sale of Elektron Technology), the Proposed Transaction is now complete and the Group has received all monies due from Equistone Partners Europe Limited.

Following adjustments for net debt, debt-like items and working capital, the total consideration received was £104.7m. After deducting the expenses incurred in connection with the Proposed Transaction and the settlement of the LTIP liability, the net proceeds receivable approximately £94m.

As previously announced, the Board expects to return approximately £81m to shareholders by way of a tender offer for two ordinary shares for every three ordinary shares held at a price of 65 pence.

Ideagen PLC (IDEA) 149p £329m

Ideagen PLC (AIM:IDEA), a supplier of integrated risk management software to organisations in highly regulated industries, is pleased to announce excellent progress relating to the Redland Solutions Ltd business acquired in June 2019.

Since the acquisition, Redland has performed strongly securing nine new logo wins with a combined contract value of £1.2m, including prestigious clients such as Natixis, Alexander Hall, TPICAP and IG Group.

All new contract wins are for the supply of ‘Insight’, Redland’s leading Senior Management and Compliance Regime (SMCR) software and have significantly increased the Redland SMCR customer base to 49 from 40 at the time of acquisition.

600 Group PLC (SIXH) 18.1p £21.3m

The 600 Group PLC  the diversified industrial engineering company (AIM: SIXH), is pleased to announce the following trading update ahead of its AGM today:

Whilst most of our markets remain subject to current global economic and political uncertainty, trading in the current financial year continues to be in line with the Board’s expectations.

Control Micro Systems (‘CMS’), acquired towards the end of June 2019, has integrated well with the Group’s existing laser activities. As part of the integration process,  the management team has been strengthened and its sales and marketing functions significantly enhanced through combination with the Group’s established sales and marketing platform. The acquisition of CMS is highly complementary to the Group’s existing laser business.

Immotion Group PLC (IMMO) 6.85p £19.6m

Immotion Group, the UK-based immersive ‘Out of Home’ entertainment group, is pleased to announce agreements for three further installs in its fast growing Aquarium sector. The first of which is with Dubai Aquarium, sited in the largest shopping mall in the World, the Dubai Mall, which boasts over 80m visitors per annum. Immotion will install an initial four headsets in the Dubai Mall just outside the entrance of the Dubai Aquarium, one of the largest suspended aquariums in the World with over 140 species, including the largest collection of Sand Tiger Sharks in the World.

The two additional installs, four headsets each, are in Texas; the first at San Antonio Aquarium, and the second Austin’s Aquarium.

These new additions will all feature the ‘Ocean Explorer’ series of experiences, including the latest experience from Immotion; ‘Shark Dive’ – a live action VR experience where users can get up close with Tiger and Hammerhead Sharks.

Europa Oil & Gas (EOG) 2.05p £9.1m

Europa Oil & Gas, the oil and gas exploration, development and production company with assets in the UK, Morocco and Ireland notes the statement released yesterday by the Irish Offshore Operators’ Association (‘IOOA’), which includes clarification received from the Government of Ireland that existing exploration licences will be unaffected by the announcement by An Taoiseach Leo Varadkar on 23 September 2019.  This set out the Irish Government’s intention to phase out oil exploration licences in the future.  The Government has confirmed that its proposals ‘will relate to future applications’ and that ‘existing licences will remain valid’.

Amphion Innovations (AMP) SUSPENDED

Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that the Company has agreed to amend the terms under the loan facility  with the Company’s debt provider as originally announced on 5 June 2014  and following the most recent amendment announced on 1 April 2019.

The Lender has agreed to extend the maturity date of the Loan Facility to 30 September 2020.  No other terms have been amended.

Amryt Pharma PLC (AMYT) 131.8p £70.7m

Amryt, a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases, announced that Amryt has successfully completed the acquisition of Aegerion Pharmaceuticals, Inc.  As part of the process the scheme of arrangement to insert a new UK holding company for the group yesterday became effective and the consideration for the Acquisition has been satisfied through the issue of ordinary shares of 6 pence each in the Company to stakeholders of Aegerion.

Sigma Capital Group (SGM) 104p £93m

Sigma, the private rented sector, residential development and urban regeneration specialist, announced that it has agreed terms for a major new Collaboration Agreement with Springfield Properties plc, a leading housebuilder in Scotland.  The Agreement targets the delivery of hundreds of new rental homes for Sigma, focusing on five cities in Scotland – Dundee, Edinburgh, Inverness, Perth and Stirling.

The move follows the launch of the Sigma Scottish PRS Fund, which is the first dedicated vehicle to focus on the creation of new homes for the private rental market in Scotland. As previously reported, the Scottish Government’s Building Scotland Fund is supporting the Fund, which will have an initial £43m to deploy.

Mercia Asset Mgt (MERC) 31.3p £95m

Mercia Asset Management, the proactive, regionally focused specialist asset manager, is pleased to confirm that its portfolio company OXGENETM, formally known as Oxford Genetics, has augmented its relationship with one of the world’s leading global life science companies, Abcam.

This expanded agreement, which follows an earlier deal announced in August 2018, will see OXGENE deliver at least 1,000 engineered cell lines over the next three years to support Abcam.

Randall & Quilter (RQIH) 185p £362m

Accredited Surety & Casualty Company, Inc., the Florida-headquartered US insurance company that is licensed to write admitted P&C business throughout the US, has had its A.M. Best Group rating of A- (Excellent) affirmed and its financial size rating upgraded to IX ($250-$500m) from VIII.

Accredited Insurance (Europe) Limited and its UK Branch also benefits from the enhanced rating from A.M. Best

Head Chef:

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

*A corporate client of Hybridan LLP

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