Small Cap Feast

Small Cap Feast – 28 August 2019

Dish of the Day:

No Joiners Today

Off the Menu:

FFI Holdings (FFI) – Shareholders have voted in favour of the delisting from AIM following the video production company’s acquisition by Lumiere Acquisitions Co LLC

What’s Cooking in the IPO Kitchen?


Brickability – The bricks supplier, which also has a heating and plumbing business as well as a roofing division, expects to join the junior market at the end of this month with a market cap of circa £150m


Bracken Trading — The Group undertakes its main trade of lending as well as electricity generation through the operation of two solar farms. Admission on the 09/09/2019

Breakfast Buffet

President Energy PLC (PPC) 5.20p £70.41m

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides a further update on recent activities in Argentina.

The Government of Argentina has recently issued a time limited decree in an attempt to temporarily control prices at the fuel pumps for end consumers .  The Decree, which is effective for 90 days, on its wording, fixed, solely for oil producers, the base values for the peso/dollar exchange rate and the reference price of Brent used in the calculation of the oil price receivable.  The peso/dollar exchange rate as per the Decree is fixed at 45.19/1 when payment for oil is made by offtakers and the reference price of Brent is fixed at $59 per barrel.

The Decree has met significant resistance from oil producers and key Provincial Authorities with the important Province of Neuquen amongst others issuing court applications to have the Decree declared illegal.

Grafenia plc (GRA) 12p £13m

Grafenia plc announced its full year audited results for the year ended 31 March 2019.

Operational Highlights

Nettl of America successfully launched

Over 220 Nettl partner locations now operating in 8 countries

Second Nettl Superstore open in Exeter

Revenues increased at company-owned stores

Upgrade of Manchester production hub completed

Relocation of Image Group to Manchester production hub completed in July 2019

Post year end placing completed to support sign roll-up strategy

mporium Group PLC (MPM) 1.05p £9.76m

Mporium Group plc, the technology firm delivering event-driven marketing, announced a commercial agreement with the second largest media agency network in the world.  Under the agreement, Mporium will run in-game moment marketing for a major global rights holder and OTT subscription service provider for the forthcoming 2019-2020 sports season.

After a successful launch campaign last season, the Client has chosen Mporium Sport’s technology to continue the growth, scale and automation of in-game marketing opportunities across additional global markets for this global rights holder.

Kingswood Holdings (KWG) 8p £14.26m

Kingswood Holdings Limited, the integrated wealth management group, announces the receipt of a lender conversion notice in respect of the existing convertible term loan facility with KPI Limited.

KPI has requested to convert the remaining £1.425 million of the Convertible Facilities into ordinary shares of 5 pence each at a price of 8.138 pence. As a result of this exercise notice, a total of 17,510,444 Ordinary Shares will be issued pursuant to the Conversion.

Following the Conversion, KPI will hold 116,995,633 Ordinary Shares in the Company, representing 53.93 per cent. of the Company’s enlarged issued share capital.

Attis Oil and GasLtd (AOGL) 0.12p £4.15m

Attis Oil and Gas Ltd, the AIM listed oil and gas company, announced it has secured its third oilfield service contract, providing regulatory testing and reporting services for 825 wells in the Texas Panhandle, bringing the total wells now under contract, with three separate operating companies, to 1,812.

The contract with Large Operating LLC was signed through Attis’ 100% US subsidiary, Attis Oilfield Services LLC (‘AOS’) and is part of the Company’s on-going strategy to build its oil services division to build revenue and complement its existing oil and gas production operations in the United States.  In order to assist with the field testing and submission of reports to the contracted parties and the Texas Railroad Commission, AOS has expanded its Borger, Texas office personnel with the appointment of a dedicated manager.

OKYO Pharma Limited (OKYO) 5.75p £30.27m

OKYO Pharma Limited, a biotechnology company focusing on the G Protein Coupled Receptors (GPCR) targeted drugs for treatment of dry eye disease (DED) and non-opioid analgesic for management of chronic pain, announced potent anti-inflammatory activity of OK-113, an in-house discovered proprietary agonist of Chemerin GPCR, in an experimental model of DED in mice. These preclinical efficacy data, identifying a lead drug candidate, will facilitate initiation of clinical studies for DED treatment in 2020.

Targeting GPCR, a ‘Nobel Prize’ winning scientific concept, is proven to be an innovative approach for treatment of a wide range of inflammatory diseases, cancers and non-opioid analgesics for management of chronic pain. More than 40% of the drugs available in the global market target GPCR.

Wey Education PLC (WEY) 10.10p £11.84m

Wey Education plc the online education group, today announces an update on trading performance for the year ending 31 August 2019.

Since the interim results were announced on 13 May 2019, the Group’s trading has continued to be strong in both of its core businesses, Interhigh and Academy21.

Therefore, it is anticipated that revenues for the full year will exceed £6.0m, well ahead of market expectations. This represents a year on year increase in revenue of over 43%. This increased revenue has allowed the Group to increase its marketing spend in the current year to ensure as far as possible that revenue expectations for the year ended 31 August 2020 will be met. Nevertheless, it is expected that adjusted profits for the current year will be at least in line with market expectations.

Tower Resources PLC (TRP) 0.75p £4.21m

Tower Resources plc the AIM-listed oil and gas company with a focus on Africa, provides an update on operations on the Thali block in Cameroon and on well financing.

As disclosed in the Company’s operational update in May, the Company received additional data from the original Total wells at NJOM1 and NJOM2, which indicated that further site preparation work would be required before the drilling rig for the NJOM-3 well is moved to site. The most suitable vessel to undertake this site preparation work is now en route to West Africa with the expectation that this work can be completed during September 2019.

PROACTIS Holdings (PHD) 50p £48.56m

Proactis Holdings PLC, the business spend management solution provider secured a specific committed facility provided by HSBC UK of £20m during the period to support the delivery of the Group’s APF.  The APF will enable the Group to fund early payments against approved invoices for suppliers.  The Board currently anticipates that the product will be deployed in a live environment with the Group’s own suppliers during October 2019 before being offered to a number of early adopters.

Evgen Pharma PLC (EVG) 16.88p £23.38m

Evgen Pharma, a clinical stage drug development company focused on the treatment of cancer and neurological conditions, announces that the last study visit for the last patient entered in the double-blind, placebo-controlled SAS Phase II clinical trial has taken place. In the SAS trial, patients are dosed for a maximum of 28 days following a subarachnoid haemorrhage, covering the period at which they are at risk of a Delayed Cerebral Ischaemia (DCI). Patients are then monitored for a further five months to assess their recovery by collecting endpoints including cognitive measurements and MRI scans.

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