Small Cap Feast

Small Cap Feast – 01/09/21

Dish of the Day:

No Joiners today.

Off the Menu:

Telit communications has left AIM following a takeover.

What’s Cooking in the IPO Kitchen?

According to Reuters Czech payments firm Eurowag plans to launch an initial public offering (IPO) in London in the coming weeks. The company, which counts private equity firm TA Associates among its owners and offers payments solutions for the transportation industry, is targeting a 2 bln euro ($2.36 bln) Mkt Cap, the sources said on condition of anonymity. The company’s core customers are small companies with one to five trucks, which make up 80% of the industry and are in strong demand as Britain and other countries face a severe shortage of truck drivers that is disrupting supply chains.
VSA Capital has applied for admission to the AQSE Growth Market. VSA Capital is an international investment banking and broking firm, with offices in London and Shanghai, providing corporate finance, advisory and capital markets services to private and public companies Offer tba. Due 9 Sep
Responsible Housing REIT to join the Main Market (Premium) in late September raising up to £250m. The Company’s investment objective is to generate a consistent and sustainable income-based return from the provision of Supported Housing accommodation assets and aligned sectors.
Blackfinch Renewable European Income Trust plc, a closed-end investment trust established to invest in a diversified portfolio of mixed renewable energy infrastructure assets, is considering proceeding with an initial public offering and has published a registration document. Raising up to £300m. Due on the Main Market (Premium) in October.
Access Intelligence (ACC.L) to acquire Isentia Group. The Acquisition constitutes a reverse takeover under AIM Rule 14. £50m to be raised on admission of the fundraising shares. Anticipated Mkt cap on re-admission of the Enlarged Group: £153.1m (based on the placing price of 120 pence). The Enlarged Group will provide a broad suite of technology products for marketing intelligence, reputation management, and data insights and the Enlarged Group’s main country of operation will be Australia. Due 2 September.
Central Copper Resources, a company focused on delivering a high grade copper project into production and exploration of assets in the Democratic Republic of the Congo (DRC) and in the Republic of Zambia to join AIM. By 2022, CCR intends to be ready to commence the project financing of its Mbamba Kilenda copper project. Offer TBA. Due Late September.
Longboat Energy (LBE.L), Longboat has secured three bilateral transactions to acquire a significant, near term, low risk exploration drilling programme in the Norwegian Continental Shelf. These agreements will provide Longboat Energy with a working interest in up to seven near term exploration wells. The farm-in agreements will constitute a reverse takeover for the purpose of Rule 14 of the AIM Rules. £35m raised prior to re-admission. To be Readmitted at Mkt cap of c.£40m. Due 2 September.
Euro Sun Mining Inc (TSX:ESM) seeking to join the Main Market in Q3 2021. The Company’s main asset, the Rovina Valley Project, which contains the Rovina, Colnic and Ciresata deposits, is one of the largest undeveloped copper-gold projects in Europe, holding approximately 400Mt of confirmed resources containing 7.0m ounces of gold and 1.4 bn lbs of copper.
South West Brands the multi-brand cannabidiol consumer goods company intends to float on the Main Market (Standard). Raising funds to continue to develop its existing portfolio of brand IP and pursue its strategy of adding brand IP assets to the portfolio over the course of the first 24 months following Admission. The Company expects Admission to occur in July 2021. Timing and offer TBA.

Breakfast Buffet

Circle Property 39p £162m (CRC.L)

Circle Property which invests in, develops and actively manages well-located regional office assets, has exchanged contracts to sell One Castle Park, Bristol to Boultbee LDN Capital Ltd. The sale price of £20m represents a 3.9% increase on the 31 March 2021 valuation of £19.25m, with completion expected to take place on 16 December 2021. The investment property was acquired by the Company in November 2012 for £4.165m.

IGas Energy 15p £18.8m (IGAS.L)

IGas announced that planning applications for both the Albury and Bletchingley hydrogen projects have been submitted to Surrey County Council. IGas will be participating in the 2nd UK CCUS Hydrogen Decarbonisation Summit later today and a copy of the presentation will be available at No new material or financial information will be released as part of this presentation.

Kazera Global 1.375p £9.6m (KZG.L)

The Board have now concluded a plan with DJ Drilling, which they believe will lead to the profitable production of Tantalum from its mine in Namibia before the end of 2021. Fixed price contract agreed with DJ Drilling for onsite construction works. DJ Drilling to take over day to day operation of mining activities on a contract basis $11m investment still on track with both Namibian investors.

MyHealthChecked 3.95p £29.9m (MHC.L)

The consumer home-testing healthcare company, announces that it now has ISO 15189:2012 accreditation across the Company’s COVID-19 testing service, a mark of confidence that the service meets internationally recognised gold standards for performance and competence. The accreditation was granted following assessments by the United Kingdom Accreditation Service (“UKAS”), and ensures that the laboratories used as part of the MyHealthChecked™ COVID-19 testing service deliver a proficient and high-quality service, meeting the relevant legal requirements. The MyHealthChecked™ COVID-19 at-home nasal swab kit and PCR laboratory testing service utilises the Company’s own laboratory in Manchester, together with its partner laboratory provided by Yourgene Health plc, which also has received ISO 15189:2012 accreditation for testing and sequencing. MyHealthChecked’s services have been included as one of the suppliers on the Government list with “Fit to Fly”, “Test to Release” and “Days 2 and 8” testing, and the Company has established a key commercial partnership with Boots UK Limited.

Plant Health Care 12.95p £39.2m (PHC.L)

The provider of novel patent-protected biological products to global agriculture markets, announced the registration approval of Harpin ab for use as a seed treatment in Argentina. Corn and soybeans are the first crops to receive regulatory approval for Harpin ab in Argentina. Argentina has 24m hectares (60m acres) of corn and soybeans planted in the current season. Growers spent more than $100m on soybean seed treatments in Argentina in the most recent season. The size of the biological market in soybeans is growing rapidly and was about $75m in 2021. The Company is currently working with multiple organizations that are evaluating Harpin ab and will select in-country distribution partners in due course.

Quadrise Fuels 4.25p £61.5m (QFI.L)

The supplier of MSAR® and bioMSAR ™ emulsion technology and fuels, which are low-cost, cleaner alternatives to heavy fuel oil and biofuels, reported that test results of bioMSAR™ on a medium speed 4-stroke Wärtsilä diesel engine at the VTT facility in Finland, confirming the results announced by the Company on 11 August 2021 when compared to conventional liquid fuels, are now available. Engine efficiency was higher (up to 7%) than with marine diesel, increasing with engine load. Average calculated CO2 emissions were 26% lower than diesel on a life-cycle (“well-to-wake”) basis, due to a combination of the 40% renewable glycerine content of bioMSAR™ and the higher engine efficiency. NOx emissions were lower than for prior HFO and MSAR® tests, and comparable to diesel, with further NOx optimisation possible. Smoke and particulate levels were very low, as were unburned hydrocarbons emissions, due to efficient fuel combustion. The existing diesel engine fuel pumps and injectors worked well with bioMSAR™.

Sanderson Design Group 203p £144m (SDG.L)

The luxury interior design and furnishings group, announces the online launch today of a new brand, Archive by Sanderson Design, which will be sold from a dedicated brand website and also, from next month, through an exclusive retail partnership with Selfridges, the leading international fashion retailer. The Archive by Sanderson Design brand reinterprets heritage designs in inventive compositions and elaborate colourways for a fashion-forward, maximalist audience who are not currently served by the Company’s existing brands or routes to market. The exclusive retailer partnership with Selfridges will include a brand launch next month at Selfridges’ flagship store on London’s Oxford Street. Selfridges’ website will also host the new brand’s products.

Scotgold Resources 70.5p £39.6m (SGZ.L)

Update on mine production and processing performance at the Cononish Gold and Silver Project in Scotland, during August 2021. Significant improvement in production profile through continued exploitation of high-grade area of vein and improvement in processing plant efficiencies. The Company is assessing an upward adjustment to the previously referenced mine plan and further updates will be announced once the Cononish mine plan has been finalised. Two shipments of gold concentrate completed during August with revenues from these exceeding operating costs.

Semper Fortis Esports* 2.25p £9.35m (AQSE:SEMP)

The esports company focused on establishing esports teams, forming brand and technology partnerships, and providing business to business advisory services, has signed a new player for its SMPR Rocket League squad. Thibault Grzesiak, 20, who goes by the name Chausette, will be joining the SMPR Rocket League squad for the upcoming season, recently having departed Team Solary. He joins existing SMPR squad members Andy Landais and Archie Pickthall. Chausette joins with a significant digital footprint having started his career in 2015 with UltimaTeam and has a current following of 34.6K on Twitter, 55K followers on Twitch and 6K followers on Instagram. He said: “I am super happy to be on this new roster and team with SMPR esports. I’m looking forward making a good impression with the boys and a very successful upcoming season.” The team is now complete and ready for the Rocket League RLCS season 11, which will likely commence in early October as they look to advance from their 3rd place finish last season. Kevin Soltani, CEO of Semper Fortis Esports, commented: “The team are very excited to have Thibault join for the 2021/22 season after being involved on trial during SMPR’s winning run in the recent Gamers Without Borders charity event. We are giving the team everything they need to win; prepared and ready for an upcoming season to remember.”

Tissue Regenix 0.72p £50.3m (TRX.L)

The regenerative medical technology company, announces the launch of DermaPure® Meshed and VNEWTM, both line extensions to the Company’s BioSurgery division, utilising Tissue Regenix’s patented decellularisation (‘dCELL®’) Technology. DermaPure® Meshed provides surgeons with a customised new DermaPure® option that eliminates time consuming manual meshing in the operating room, allows for wound fluid egress, thereby optimising patient outcomes and is meshed to provide an expansion area of 1.8X, allowing for greater surface area coverage. The product is targeted for use by general, plastic and trauma surgeons who treat patients with conditions that result in loss of integumental tissue (skin), requiring replacement, repair, or reconstruction.

Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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