Small Cap Feast

Small Cap Feast – 9th August 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 887

Total number of AIM Companies trading: 804*
* As at 26 July 2019

Set Menu NEX Growth:

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

Total number of NEX Growth Market Companies trading: 84*
* As at 26 July 2019

Set Menu Standard List:

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

Total number of Standard List Companies trading: 144*
* As at 26 July 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?

NEX

Freyherr International Group PLC the Medicinal Cannabis holding company established in 2016,  is planning to list on the NEX exchange on the 13 August.

Breakfast Buffet

Providence Res. (PVR.L) 8.95p £52.30m

Providence Resources, the Irish based Oil and Gas Energy company, today provides an operational update in relation to Standard Exploration Licence 1/11 which contains the Barryroe oil accumulation.

The Barryroe Partners have now confirmed that they have received permission from the Minister of State at the Department of Communications, Climate Action and Environment to undertake a seabed debris clearance, environmental baseline and habitat assessment site survey over the area of the Barryroe field within SEL 1/11.   Pursuant to the terms of the Updated Farm-out Agreement with APEC (as amended), and subject to the receipt of funding from APEC or alternative financing arrangements being put in place, the site survey is expected to commence later this month.  

Hikma Pharmaceuticals (HIK.L) 1959.00p £4,460.35m

Hikma Pharmaceuticals, the generic drugmaker, has raised its full-year expectations after new product launches boosted first-half profits.

For the six months ended 30 June, the FTSE 250 firm reported a core profit attributable to shareholders of US$176mln, 19% higher year-on-year, while core revenues rose 7% to US$1.04bn. As a result of its strong first half, the company said it now expected full-year revenues from its Injectables business to be between US$870mln-US$900mln, compared to US$850mln-US$900mln in a May trading update, while its Generics business was now forecast to deliver between US$690mln-US$720mln compared to previous estimates of between US$650mln-US$700mln.

“All of our businesses are performing well. We are delivering more from our unique and diversified business model, leading market positions and high-quality operations to drive strong organic growth”, said Siggi Olafsson, Hikema’s chief executive.

Equals Group (EQLS.L) 117.50p £193.07m

Equals Group PLC, the e-banking and international payments group, announced that its subsidiary, FairFX, has acquired the International Payments business of Hermex International, part of the FXPro Group, for a total consideration of £2 million, payable in cash on completion.

HermexFX offers international payment services to a predominantly corporate client base through a personalised service offering. The Acquisition will complement the Group’s strategy to develop its fast-growing corporate segment, providing additional corporate clients and cross-selling opportunities for the expanding range of products through their existing sales channels. The Group’s technology, combined with its expertise in compliance, operations and settlements, means the integration of the HermexFX business into the Group can be achieved efficiently.

The Acquisition is made in accordance with the Group’s strategy to consolidate smaller, attractive market participants. It is expected to be immediately earnings enhancing. In addition, the Acquisition fits with one of Equals’ stated core strategies of extracting value from increasing economies of scale.

Xtract Resources (XTR.L) 1.25p £4.26m

Xtract Resources, a diversified metals and minerals producer, announced that the Company’s technical consultants have provided an informal report to the Company on the integration of the previous exploration databases and undertaken an interim review of drill targets over the Eureka project on the copper-gold small scale mining licence number 22134-HQ-SML located in the Central part of The Republic  of Zambia.

The historic data overview confirmed targets for fast-track drilling.  Two copper (+ gold) soil anomalies were highlighted, the largest extending for 3km. The main anomaly peaks at 1,315ppm Cu, 540ppb Au in the vicinity of the previous worked shallow open pit mine. The drilling review indicates mineralisation in Eureka pit area remains open, with particular focus to the southeast and to depth. The near-term drill targets selected subject to surveying of historic drill hole collars and preparatory ground work.

Alexander Mining (AXM.L) 0.03p £0.80m

Alexander Mining, the mining, minerals and metals processing technology company, announced that it has successfully placed 2,375,000,000 ordinary shares of 0.001 pence each  at a price of 0.02p per share, raising £475,000 before expenses, through its sole broker and placing agent Turner Pope Investments.

The net proceeds of the Placing will be used for general working capital and business development purposes.

Commenting on the Placing, Martin Rosser, CEO of Alexander, said “We are delighted to have secured this investment from new and existing shareholders to give the Company the flexibility for a potential beneficial corporate opportunity and to provide additional working capital.  Also, we are delighted about the proposed board appointment of Nigel Burton and the extensive experience that he will bring to the Company.”

Rambler Metals and Mining (RMM.L) 1.40p £16.53m

Rambler Metals and Mining, a copper and gold producer, explorer, and developer, announced that for the fiscal quarter ending June 30, 2019 it achieved record throughput by processing 112,679 tonnes of ore from the Ming Mine through the Nugget Pond copper and gold milling facility.

This supported a 45% increase in saleable copper produced in concentrate and 10% increase in saleable gold produced in concentrate relative to the same year-ago quarter.  Additionally, first half (H1) 2019 record throughput of 211,090 tonnes of ore from the Ming Mine and through the Nugget Pond copper and gold milling facility has supported a 46% increase in saleable copper produced in concentrate and 32% increase in saleable gold produced in concentrate relative to the first half of 2018.

IXICO (IXI.L) 36.50p £18.01m

IXICO, the data analytics company delivering insights in neuroscience, today announced an update on contracts:

Two new biopharmaceutical client contracts with combined value of over £1m

Award of a significant change order to Phase III Huntington’s disease contract worth c£0.9 million

Discontinuation of a study with no impact on FY19 revenue; reduction of contract revenue of £3.5m over the full term of the agreement to 2025

Confirms confidence in the current year market expectations and the outlook for next year

The Company has secured contracts (with a combined contract value of over £1m) with two new biopharmaceutical clients for the provision of data analytics services to support clinical trials taking place in North America and Europe.

Gordon Dadds Group (GOR.L) 144.50p £53.43m

Gordon Dadds Group, a law and professional services firm, today completed the review of their future operations in Monaco:

On 31 December 2018, the Group acquired the former Ince & Co LLP which included the firm’s London, Beijing and Shanghai offices.

On 1 April 2019, the Group entered into new arrangements with the independent legal entities which were former Ince & Co network firms in Hong Kong, Singapore, Dubai, Greece and Germany and whose results will now be consolidated in the Group’s results, while continuing to review its relationship with the former Ince office in Monaco.

The outcome of this review process is that the Group has concluded that the financial performance of its representation in Monaco can be improved by bringing in a new team.  As a result, in future, the Monaco office, under the new team, will become part of the Group. The former Ince team will leave that firm shortly.

Pennant International Group (PEN.L) 51.50p £27.99m

Pennant International Group, the supplier of integrated training and support solutions, products and services announced a trading update for the six months ended 30 June 2019.

The Company expects to report results for the First Half which are slightly better than management’s expectations, with revenues of £7.25 million and an EBITA loss of £(1.49) million. Net cash stood at approximately £(0.35) million at the end of H1 2019.

Porta Communications (PTCM.L) 0.53p £2.66m

Porta Communications, a communications, marketing, design, advertising and analytical services consultancy, announced that Rhydian Bankes is stepping down from the Board and as Chief Financial Officer of the Group with immediate effect and will remain with the Group until 1 November 2019.

He will continue to assist with the completion of the merger of the Group with SEC S.p.A., which is expected to become effective on 3 September 2019, and the orderly transfer of his responsibilities.

Head Chef:

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

*A corporate client of Hybridan LLP

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