Small Cap Feast

Small Cap Feast – 28 October 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 876

Total number of AIM Companies trading: *
* As at 28 October 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 86*

Total number of NEX Growth Market Companies trading: *
* As at 28 October 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: *
* As at 28 October 2019

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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.

Breakfast Buffet

Benchmark Hlgs (BMK) 48.5p £271m

Benchmark, the aquaculture health, nutrition and genetics business, announces that it will receive US$8.75m from AquaChile, representing the second and final payment under the joint venture dissolution agreement. Payment is due within 5 days of signing.

As part of this agreement the Company has completed the transfer of ownership of the Ensenada facility, which gives Benchmark control of the salmon breeding operation previously belonging to the joint venture. The Company has received the IP rights, genetics stock and biomass in the joint venture.

The Ensenada facility is a highly bio-secure hatchery situated in the “Los Lagos” region in Chile, with good access to spring water required for the production of high-quality eyed eggs suitable for the Chilean industry. The Ensenada facility is being adapted to be suitable for maturation of broodstock, spawning and fertilisation of eggs, and it is expected that the first eggs from the new facility will be available in H1 2021.

IXICO (IXI) 74.5p £32.6m

IXICO plc, the AI data analytics company delivering insights in neuroscience, announces three new biopharma contracts and the appointment of Lammert Albers as Chief Business Officer effective immediately.

The new contracts are:

A start up agreement with a new client for a new multi-study programme in Progressive Supranuclear Palsy (PSP), with an initial value of c£0.4m, over 12 months

A c£0.35m, three-year, expansion of an existing study to add a significant patient cohort in China

A c£0.45m, two-year, new client contract to support a Phase IV study for a US biotech client, exploring a new application for a marketed drug for mental health

The Company has been contracted to initiate work on a new PSP programme for a client, ahead of patient enrolment later in 2019. The first study in the programme has a value of approximately £0.4m and is expected to lead to a larger programme of work in early 2020.

Cerillion (CER) 188.5p £55.6m

Cerillion, the billing, charging and customer relationship management (“CRM”) software solutions provider, provides a trading update for its financial year ended 30 September 2019.

Results for the year are expected to be in line with market expectations, with revenues rising by 8% to c. £18.7m (2018: £17.4m) and adjusted EBITDA up by 14% to c. £4.5m (2018: £3.9). The Company’s net cash position has grown strongly year-on-year and is expected to stand at c. £5.0m (2018: £2.5m), which is ahead of market forecasts.

As anticipated in the Company’s Interim Results in May, trading has been significantly second half weighted this year due to the timing of contract closures. The second half of the year saw Cerillion sign three major contracts, with these new wins continuing the trend towards larger deal sizes.  Over the year, major new contracts were secured from all the Company’s key international geographies, Europe, the Americas and Asia-Pacific.”

Autins Group (AUTG) 20.5p £8.1m

Autins Group, a leading designer, manufacturer and supplier of acoustic and thermal insulation solutions for the automotive sector, provides the following update on trading for the year ended 30 September 2019.

The Board expects to report FY19 results in line with market expectations.

The extensive management actions employed to reduce costs and increase operational efficiency have successfully delivered improved profit margins. The Group is well placed with sufficient capacity to take advantage of the many opportunities in its pipeline to grow and diversify the business.

Sales to customers outside of UK are progressing well and in this regard, the Board is pleased with the developments made by Neptune, the Group’s lightweight, high performance material, in securing multiple new business client wins and with production levels ramping up towards the end of FY19, which has continued in the new financial year.”

Scholium Group (SCHO) 39.5p £5.1m

The Group has made a small profit during the period, which represents a considerable improvement compared with the loss incurred during the six months ended 30 September 2018.

The Group’s trading has continued the progress made in the second half of the financial year ended 31 March 2019. Mayfair Philatelics is now operating a fuller auction programme, and traded at breakeven for the six months to 30 September 2019 compared with a loss of £79k in the corresponding prior period.

BlueRock Diamonds (BRD) 112.5p £3.9m

BlueRock Diamonds plc, the AIM listed diamond mining company, which owns and operates the Kareevlei Diamond Mine in the Kimberley region of South Africa, announced that it has sold the 20.72 carat diamond announced on 27 September 2019 for USD236,000 (USD11,389/carat) in the October tender. This is the highest value achieved for the mine to date for a single stone; the previous record sale was the 24.8 carat stone sold in June 2019 for USD190,000 (USD7,862/carat).

Ingenta (ING) 71.5p £12m

Ingenta plc, a leading provider of innovative content solutions, announced that it has secured 2 further new deals for its Commercial software platform.   The sales are for customers based in the UK and US comprising both the Ingenta Order to Cash and Contract, Rights and Royalties solutions. The combined implementation and licence deals are valued at £425K with total annual recurring fees of approximately £40K.

Sosandar (SOS) 20p £26m

Sosandar, the online women’s fashion brand, announced the following trading update covering the six month period ended 30 September 2019.

The Company expects to report revenue of £2.82m for the period, a 53% increase against the same period in the prior year, reflecting progress made during the year so far, with Q2 up 84% and September up 112% against the same periods in the prior year. The Company is very pleased to report that October is already the first month that its net revenues (post returns) have surpassed £1m.

Safestay (SSTY) 31.8p £20.5m

Safestay, the owner and operator of an international brand of contemporary hostels, announced that it has exchanged contracts to acquire the prime boutique hostel AthenStyle for 1.5m. Completion of the purchase is scheduled for 15 January 2020.

Sutton Harbour Group (SUH) 23p £26.7m

Appointment of Corey Benjamin Beinhaker, age 50, as an Executive Director in the role of Chief Operating Officer with immediate effect. Prior to his involvement with Sutton Harbour Group. Corey Beinhaker worked for IBIB Group Consultants (Israel) Limited from 2010 to 2017 latterly as its chief executive officer w here he, amongst other things, was contract manager  for a number of significant projects including the Tel Aviv Red 10 Line Underground Station

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