Small Cap Feast

Small Cap Feast – Small Cap Feast 6 December 2019

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What’s Cooking in the IPO Kitchen?


MJ Hudson Group PLC, the financial services support provider to Alternatives fund managers and asset owners, is planning an AIM IPO. Deal details TBC but expected admission date mid-December.

Main Mkt Standard

Taseko Mines  – North American focused copper producer and developer, seeking a London Listing. No capital raise. Due 22 Dec

Main Mkt Premium

Octopus Renewables – Raising £350m.  Will seek to provide investors with an attractive and sustainable level of income returns, with an element of capital growth by investing in a geographically and technologically diversified spread of renewable energy assets—Due 10 Dec

NEX Exchange

SulNOx Group  – The Group has developed a methodology and process capable of emulsifying hydrocarbon fuels such as diesel and heavy fuel oil . By January 2014, following preliminary laboratory testing, SulNOx was in a position to suggest that its products resulted in up to a 50% reduction of Nitrogen Oxide (NOx) and a 90% reduction in particulate matter Due 17 Dec, mkt cap £42.3m.

Breakfast Buffet

DXS International (NEX:DSP)* 12p £4.3m

HY Oct 19 results from  the digital clinical decision support company. Turnover for the period held steady at £1,650,000.

The Company continued its investment into research and development with £600,000 invested in the period.

EBIT is up from (£6,003) to £124,300 for the period.

Net Profit after tax at £202,000 is up from £70,000 for the same period in the previous year

DXS achieved a conditional NHS Digital Care Services (GP IT Futures) contract. The award is subject to final assurance accreditation due to be achieved by 15th December 2019. “The contract award ensured that our current solution will once again be centrally funded by the NHS.”

The Company is also at an advanced stage of achieving central funding for each of its newly completed solutions under the new GPIT Futures framework. “Our new, advanced digital clinical decision support solution pilots continue to provide valuable and positive end-user feedback.”

Kore Potash (KP2.L) 1.2p £18.2m

The potash exploration and development company whose flagship asset is the 97%-owned Sintoukola Potash Project announced that it has today completed the purchase of two drill rigs and ancillary equipment from Equity Drilling Limited, to be used for the Company’s current DX Pre-Feasibility Study drilling campaign (all together the Acquisition).

As consideration for the Acquisition, 22,000,000 new Ordinary Shares in the Company are being issued to the Vendor at a deemed price of 1.225p (being the closing share price on the 3rd of December 2019).

The Acquisition is in line with the Company’s strategy to undergo its development plans in a cost-effective manner.

ReNeuron Group (RENE.L) 136.5p £43.5m

Reduced loss for the period of £3.90m (2018: loss of £5.36m)

Reduced cash consumed by operations of £5.15m (2018: £7.54m)

Upfront payment of £5.40m, net of withholding tax, received pertaining to licence agreement with Fosun Pharma

Cash, cash equivalents and bank deposits at 30 September 2019 of £21.27m 

hRPC stem cell therapy candidate for retinal disease: hRPC stem cell therapy candidate for retinal disease.

CTX stem cell therapy candidate for stroke disability:   Overall size of Phase 2b study increased from 110 to 130 patients, with top line data expected in mid-2021.

Exclusive out-licence agreement signed with Fosun Pharma to develop and commercialise hRPC and CTX programmes in China.

Duke Royalty (DUKE.L) 47.95p £114m

The provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, is pleased to announce its interim results for the six months ended 30 September 2019. Revenue of £5.9m  an increase of 119%.  Positive net cash inflow from operations rose 195% to £3.9m (H1 2018: £1.3m). Net profit before tax of £3.7m (H1 2018: £1.1m)

Two follow-up investments into Welltel Ireland Limited and Step Investments Limited completed, totalling £1.65m

Entered into a new £30m revolving facility agreement with existing debt provider, Honeycomb Investment Trust PLC, on improved terms, providing greater financial flexibility

Post period end, raised £17.45m via a Placing, an Open Offer and a Retail Offer to build the Company’s royalty portfolio and to pay down the inherited credit facility.

Hydrodec (HYR.L) 12p £3.4m

The clean-tech industrial oil re-refining group, today announces that following a year in which it has focused on the turnaround of the Group and the development of the closed loop utility strategy in the United States, Lord Moynihan has now reached the decision that it is time, after seven years as Chairman of the Company to step down from the Board and resign as a Director with immediate effect. He intends to pursue a number of new opportunities at the beginning of 2020 and will return to active involvement in the work of the House of Lords following the upcoming General Election. As a result, the Board has agreed to Lord Moynihan’s request.

Following this change, Chris Ellis, Chief Executive Officer, will with immediate effect carry out the additional role of Interim Executive Chairman and it is the Company’s intention to appoint a suitable replacement candidate in due course.

Tremor International (TRMR.L) 152p £187m

The specialist in in-video advertising technologies, announces that it has renewed its partnership with Alphonso, the TV data and measurement business, to expand the Company’s exclusive automatic content recognition solution that enables brands to reach TV audiences more precisely and effectively across video devices. 

Alphonso has been providing Tremor Video with television viewership data for the last four years and has agreed to a two-year extension. Tremor leverages the data collected by Alphonso, whose viewership data reach includes 15m opted-in U.S. households, to allow its clients to target specific audiences in real-time based on their demographics and viewing habits. This extends beyond the TV screen, as advertising campaigns can also be delivered across mobile, laptop and tablet, allowing advertisers to enact cross-platform campaigns.

SEC Newgate (SECG.L) 41p £9.94m

The international communications, advocacy and research group, announces that Andrea Cornelli will be appointed Chief Innovation Officer effective from 9 December 2019.

Andrea is a senior manager in the communications industry whose know how and experience spans communications technology systems, design information, PR and strategic advice. A prominent communications adviser he has been a juror at numerous international communications awards ceremonies including Cannes Lions PR, Eurobest PR and Sabre PR, amongst others.

In 2013 he was appointed Global Partner of the Ketchum international network. After the merger between Ketchum, Fleishmann Hillard and Porter Novelli, in June 2017, he became Executive President of the new entity, Omnicom Public Relations Group (OPRG).

Providence Resources (PVR.L) 3.125p £20.5m

The Irish based Energy Company, today announces that Tony O’Reilly has stepped down from the position of Chief Executive Officer of the Company and has resigned from the Board (and all subsidiaries) with immediate effect.  The Board has initiated a process to identify and recruit a new Chief Executive Officer to lead Providence in its next phase of development, and a further announcement will be made as soon as this process is completed.  Mr. O’Reilly has agreed to work with the Board, to the extent required, until the end of January 2020 to ensure an orderly transfer of his responsibilities.  In the interim, his executive functions will be assumed on a temporary basis by Pat Plunkett, Chairman.


OptiBiotix Health (OPTI.L) 49p £42m

The  life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has entered into three new exclusive distribution agreements which seek to extend the global reach of its SlimBiome® and GoFigure® products.

Eddie Stobart (ESL.L) SUSPENDED

Today’s GM approved “a Proposed Transaction whereby Marcelos Limited, a wholly-owned subsidiary of DouglasBay Capital III Fund LP, a fund managed by DBAY Advisors Limited will acquire a 51% stake in Greenwhitestar Acquisitions Limited, which is currently a wholly-owned Subsidiary of the Company and in turn holds the Company’s interests in the trading entities of the Group, and DBAY will agree to (directly or indirectly) inject approximately £55m of new financing into the Group’s operations through the Interim PIK Facility and the PIK Facility, which will be used to provide necessary liquidity.


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