Small Cap Feast

Small Cap Feast – 30 August 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 878

Total number of AIM Companies trading: 797*
* As at 27 August 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 87*

Total number of NEX Growth Market Companies trading: 85*
* As at 27 August 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: 144*
* As at 27 August 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?

AIM

SEC S.p.A. Admission is following a reverse takeover under Rule 14 by SEC S.p.A of Porta Communications plc, another AIM quoted company. No funds being raised. Due 4 September. Mkt cap c £9.9m. The merger will create a business with global fee income of around €80m and a host of PR agencies, including Newgate, Publicasity and Newington.

NEX

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

Gear4music (G4M.L) 187.5p £39.3m

AGM statement from the largest UK based online retailer of musical instruments and music equipment .

“The specific actions that we have undertaken to improve gross margins and ensure that the Group is operationally robust ahead of our peak trading period continue to yield positive results.  As such, we remain confident that the Group is well-positioned to grow revenue and improve profitability.

“Consequently, I am pleased to report that the Group has continued to trade in line with the Board’s expectations for the full year.”

The Group will announce a trading update in relation to the six month period ending 30 September 2019 on 22 October 2019, followed by the half year results for this period on 12 November 2019.

Summit Properties (SMTP.L) €1.16 €530m

Unaudited KPIs from the German commercial property company  for FYJun19.

Gross profit of €39.5m (H1 2018: €29.1m, FY 2018: €64.8m)

Profit Before Tax (PBT) of 56.3m (H1 2018: 102.1m, FY 2018: 334.2m)

EBITDA of €64.2m (H1 2018: €107.2m, FY 2018: €345.4m)

NAV and EPRA NAV per share of 1.81/2.02 (FY 2018: 1.68/1.89)

Rental income increased 28.6% to €40.5m (H1 2018: €31.5m, FY 2018: €67.4m)

Revaluation profit of €38.6m (H1 2018: €91.8m, FY 2018: €296.8m)

92% occupancy over the portfolio’s majority and 91% including properties for re-development (92% and 90%, respectively as of 31 December 2018)

New leases and renewals for approximately 65,000 sqm securing rental income of ca. €5.7m p.a.

EMIS Group (EMIS.L) 1112p £699m

HYJun19 results from the  UK leader in connected healthcare software and systems .

Results in line with expectations as EMIS Group continues to execute its strategic plan.

Revenue +7% £79.8m

Adjusted EPS +12% 23.7p

Net Cash –17% £26.7m

Adjusted op profit +8% £18.2m

Interim dividend +10% 15.6p

Focussed on execution of strategic plan to provide mid to high single digit revenue growth and improved margins, towards 30%, in the mid-term

The Board’s expectations for the full year remain unchanged

Shoe Zone (SHOE.L) 119.5p £59.6m

The UK’s largest value footwear retailer, today announced that Nick Davis, the Group’s Chief Executive, has tendered his resignation in order to leave Shoe Zone and pursue other business interests.  Anthony Smith, Executive Chairman, will resume his role as CEO on a permanent basis. Charles Smith, Chief Operating Officer, will assume the role of Interim Executive Chairman.

Trading conditions since the Group’s Interim Results on 21 May 2019 have been challenging and as a result, the Board now expects to deliver a full year performance below its expectations.  £3.1m write down of freehold properties. “While we therefore face a short-term impact on our balance sheet, we do not anticipate any change to our dividend policy, reflecting our confidence and excitement in the long-term growth opportunities through the Big Box roll-out, continued operational improvements and our multi-channel proposition.”

Jaywing (JWNG.L) 6p £5.6m

Further to the 10 July trading statement Jaywing reports that “trading has improved since the end of June but conditions remain challenging with client activity adversely impacted by the uncertain economic and political outlook.  As a result, the Directors have been in negotiation with the Company’s bank and its two major shareholders with a view to strengthening the Company’s balance sheet.  These negotiations remain ongoing and constructive.

 

The Company announces that it now expects to publish its 2019 Preliminary Results by the end of September 2019.”

Adamas Finance Asia (ADAM.L) 32.5p £28.4m

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, is pleased to announce that, further to its announcement on 15 July 2019, it has successfully funded the second tranche of its existing investment commitment to Infinity Capital Group Limited .

The second tranche of the loan also represents a commitment of US$2m which is being equally funded by the Company and a Hong Kong based family office, and is provided on the same terms as announced on 15 July 2019.

URU Metals (URU.L) 2p £258m

The application for a Mining Right submitted by the Company’s South African subsidiary, Lesego Platinum Uitloop,  over the three prospecting rights that form the Zebediela Project has been accepted by the South African Department of Mineral Resources (“DMR”). LPU is the holder of the prospecting rights that form the Zebediela Project. The application was submitted by LPU over various portions of the farms Uitloop 3 KS, Amatava 41 KS, Bloemhof 4 KS, and Piet Potgietersrust Town and Townlands 44 KS, in the Mogalakwena local and Waterberg district Municipalities of the Limpopo Province of South Africa.

The DMR will now process the application, and the Company looks forward to receiving the mining right in due course subject to the satisfactory completion of all regulatory requirements.

Itaconix (ITX.L) 2.52p £6.8m

The innovator in sustainable specialty polymers, announces the promotion of Laura Denner from Group Director, Finance and Operations to Chief Financial Officer (non-plc board position) with effect from 1 September 2019.  Michael Norris will step down after serving as the Company’s Interim Chief Financial Officer. Ms. Denner has assumed increasing financial and operational responsibilities since joining Itaconix Corporation as Financial Controller in 2013.  Her major accomplishments include a steady stream of projects to build a strong operating and accounting base for the Company’s growth needs. She is a Certified Public Accountant, previously worked as Audit Manager at Feeley & Driscoll (now part of BDO), and holds a Master of Science in Accounting from Boston College and a Bachelor of Science in Accounting and International Studies from Bryant University.

Spitfire Oil (SRO.L) 2.5p £0.65m

Following a further review of the economic feasibility of the Salmon Gums lignite project, in particular with consideration of the current and long term forecast for the continued relatively low oil prices and the continuing costs of maintaining the retention licence over the Salmon Gums tenements, Spitfire has today relinquished the retention licence over the Salmon Gums lignite tenements. With the relinquishment of this licence, Spitfire becomes an AIM Rule 15 cash shell.

Globalworth Real Estate (GWI.L) €9.3 £1.8bn

Globalworth intends to publish its Interim Report and Financial Statements for the six-month period ended 30 June 2019 during the week commencing 16 September 2019.  The Company is today providing a preliminary release of its unaudited Consolidated Statement of Comprehensive Income and unaudited Consolidated Statement of Financial Position. Preliminary EPRA Net Asset Value as at 30 June 2019 to be 1,754 million or 9.05 per share.

Head Chef:

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

*A corporate client of Hybridan LLP

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