Small Cap Feast

Small Cap Feast – 05 January 2021

Dish of the Day:

No joiners today

 

Off the Menu:

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What’s Cooking in the IPO Kitchen?

Upon Admission to AIM, Nightcap will acquire The London Cocktail Club Limited (the “London Cocktail Club”), which is an award winning independent operator of ten individually themed cocktail bars in nine London locations and one location in Bristol. Offer TBC Due mid Jan.

HSS Hire Group, HSS.L transfer from Main to Aim. Mkt Cap c. £70m. Recently raised £52.6m. Leading supplier of tool and equipment for hire in the United Kingdom and Ireland and has provided equipment hire services in the United Kingdom for more than 60 years, primarily focusing on the B2B market.  Due 14 Jan.

VH Global Sustainable Energy Opportunities plc, a closed-ended investment Company focused on making sustainable energy infrastructure investments, today announces intends to launch an initial public offering  of shares on the Official List (Premium) of the Main Market of the London Stock Exchange.  Due by Early Feb.

 

Breakfast Buffet

Petro Matad 3.85p £26.2m (MATD.L)

The Mongolian oil company, provides the following update on its application to secure an Exploitation Licence for the Heron oil discovery in Block XX, eastern Mongolia.

The Block XX Exploitation Licence application has progressed with the meeting of the Mineral Resource Professional Council (MRPC) taking place. The meeting was held virtually due to a Covid-19 lockdown currently in place in Mongolia. MRPC reviewed Petro Matad’s Heron Reserves Report and approved the submission without alteration.

Following the MRPC meeting, Petro Matad immediately wrote to the Ministry of Mining and Heavy Industry requesting the appointment of auditors who must now review the Plan of Development before this document is submitted to the Mineral Resources and Petroleum Authority of Mongolia (MRPAM) and to MRPC for review and final approval. Preparation of the Plan of Development has already been completed by the Company and the documentation is ready for the audit and review process. Petro Matad has also prepared its formal application to MRPAM for the Exploitation Area. Under the law, the Exploitation Area is to be determined by mutual agreement between MRPAM and the Company.

 

Westmount Energy 20.5p £29.53m (WTE.L)

Westmount notes the announcement by the Maritime Administration Department, Guyana, dated 1st January 2021, that the Stena Carron drillship has arrived on location at the Bulletwood-1 wellsite on the Canje Block, offshore Guyana and has commenced drilling operations. 

As previously announced, Westmount holds an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share capital of JHI Associates Inc. (JHI). The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.

 Previously published information by JHI indicates that Bulletwood-1 is a 500 MMbbl oil prospect targeting a Liza look-alike, confined channel complex, of Late Cretaceous, Campanian, age. Based upon the announcement by the Maritime Administration Department drilling operations are scheduled to be completed at Bulletwood-1 on or before the 23rd February 2021.

As a result of a 2018 farm-out to Total, JHI is carried for the drilling of up to four wells, including Bulletwood-1, and is funded for the drilling of additional wells.

 

One Heritage Group* 12.25p £3.7m (OHG.L)

The UK-based residential developer focused on the North West of England announced their maiden acquisition since their December IPO.  They have exercised an option to acquire a site on Bank Street, Sheffield. The total consideration paid is £879,770 in cash.  The site is located within the city centre on Bank Street and it is on the edge of the retail and commercial centre in the Cathedral District, only a 15-minute walk from the train station. The site has planning permission for 21 self-contained apartments, but management are likely to resubmit the planning to increase the number to 23. The Company expects the final development cost to be £2.9 million with a Gross Development Value (GDV) of £3.6 million once the revised planning permission is in place. Management is expecting to start on site by the first quarter of 2021 with completion anticipated for the first quarter of 2022.

 

Remote Monitored Systems 2.25p £44.6m (RMS.L)

Update in respect of its wholly owned subsidiary, Pharm 2 Farm Limited .

Further to the announcement on 29 December 2020 advising of the likely shipping date of the P2F face mask manufacturing machine, the Company advised that the plant was loaded and dispatched from Spain yesterday (4 January 2021).

It is likely to arrive in Nottingham at the earliest on or about 8 January 2021, subject to any routine traffic or customs delays. The Company expects to provide a further update on expected production levels once the machine has been commissioned and an assessment has been made.

 

GlobalData 1365p £1.6bn (DATA.L)

The global provider of data, analytics and insights, is today announcing the following Board changes.

Bernard Cragg will stand down as Chairman after six years of service as a Non Executive Director followed by four years as Chairman at the close of the forthcoming AGM to be held on 20 April 2021. The Board announces that his successor as Independent Non Executive Chairman will be Murray Legg who will assume the role with effect from the AGM.

Murray has been a Non Executive Director of the Company and Chairman of the Audit Committee since 2016.He is a chartered accountant with over 35 years of audit and advisory experience at PwC where he was a Partner for 24 years. During this time he had senior management, governance and market facing roles with major UK companies across a range of industry sectors including the media sector.

In addition, it is the Board’s intention to appoint additional Non Executives in due course, one of whom will succeed Murray as Chairman of the Audit Committee, and the Company will provide an update accordingly.

 

Renalytix AI 602.5p £434m (RENX.L)

The artificial intelligence-enabled in vitro diagnostics company, focused on optimizing clinical management of kidney disease to drive improved patient outcomes and advance value-based care , and DaVita (NYSE: DVA) are partnering on a program aimed at slowing disease progression and improving health outcomes for the nation’s estimated 37 million adults with chronic kidney disease (CKD). The program is expected to improve patient outcomes and provide meaningful cost reductions for health care providers and payors by enabling earlier intervention for patients with early-stage kidney disease (stages 1, 2 and 3) through actionable risk assessments and end-to-end care management.

 

Impax Asset Management 803p £1.05bn (IPX.L)

The AIM listed specialist investor focused on a more sustainable economy, today provides an update on the development of its assets under discretionary and advisory management for the first quarter of its financial year.

On 31 December 2020, the Company’s AUM totalled £25.2 billion, representing an increase of 24.8% for the quarter and a new record high. 

 

Solid State 745p £63.6m (SOLI.L)

The AIM listed manufacturer of computing, power and communications products, and value added supplier of electronic and opto-electronic components, is pleased to announce that its Manufacturing division, Steatite, has secured a £2.2m contract to supply in excess of 1000 computer systems.

 The units supplied by Steatite will be part of a rugged computing and display system for a customer in the transportation sector. Delivery is expected over a 12-24 month period, starting early in the financial year 2021/2022.

 

Getech 16.25p £6.1m (GTC.L)

Getech, a provider of data, knowledge and software to the energy industry, has secured a multi-year licence agreement for its Globe product with a national energy company.

The agreement follows completion of the customer’s first year as a Globe user and adds £563,000 to Getech’s current orderbook.

An additional option has also been agreed that enables the customer to purchase other Getech data modules, which would enhance and extend its use of Globe.

 

Destiny Pharma 75p £44.8m (DEST.L)

The clinical stage innovative biotechnology company focused on the development of novel medicines that can prevent life threatening infections, today announces that its XF-73 Phase 2b clinical trial was fully recruited by 31 December 2020, meeting the target timeline set for the programme.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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