Small Cap Feast

Small Cap Feast – 08 October 2019

Dish of the Day:

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Off the Menu:

Stilo International Plc (STL) –  has delisted from AIM and has been reregistered as a private company, shares were bought back at 14.93p per share.

Charter Court Financial Services Group Plc (CCFS) –  has delisted  from the premium segment of the main market.

What’s Cooking in the IPO Kitchen?

Main Market Standard, the largest Payments, Marketplace and Fintech Ecosystem in Kazakhstan with a leading market share in each of its key products and services, has postponed its Initial Public Offering due to unfavourable market conditions.

Main Market premium

Registration document approved for Helios Towers. The Group provides essential network services, flexible infrastructure solutions and reliable power supply to mobile network operators  in five African growth economies.  Revenue increased 7 per cent. year-on-year to US$191m (H1 2018: US$178m), with Adjusted EBITDA up 15 per cent. year-on-year at US$99m (H1 2018: US$86m) for the six months ended 30 June 2019. Pricing rumoured at 115p to 145p implying valuation of up to $1.8bn


Breakfast Buffet

Crossword Cybersec* (CCS) 410p £19m

Crossword Cybersecurity, the technology commercialisation company focusing exclusively on the cyber security sector, announced today the signing of a two-year contract with a FTSE 250 global chemical manufacturer.

The customer will use Rizikon Assurance to issue onboarding assessments to their 250 strategic suppliers, in turn displaying their key risk data in the tool’s ‘Supplier Scorecard’ feature. Rizikon Assurance will automate the supplier management process, replacing manual, time-consuming and resource-intensive processes that the company has used to date.

Rizikon Assurance will play a pivotal part in the customer’s overall Supplier Management Framework, increasing the efficiency of their supplier assurance process and enabling them to identify and mitigate their biggest areas of supplier risk. Each category of supplier will be assessed against their criticality and risk to the business.

Ilika plc (IKA) 21.5p £21.67m

Ilika, a pioneer in solid-state battery technology, announces that it has been granted eight of its Stereax® solid-state battery patent filings in five patent jurisdictions.

Over the past two years, Ilika has seen substantial progress in the prosecution of this aspect of its patent portfolio at the Patent Offices of China, Korea, Japan, USA and Europe.  As a result, three of its patent families are significantly stronger, with eight related filings going to grant and notices of allowance being issued for a further four.

These patent filings protect the methods used to make Ilika’s thin-film solid-state Stereax® cells. The Stereax® roadmap commenced with miniature batteries designed to meet the demands of powering wireless devices and has been extended to include large format cells for automotive.

Sigma Capital Group (SGM) 104p £93m

Sigma, the private rented sector, residential development and urban regeneration specialist, announced the expansion of its build-to-rent activities and ‘Simple Life’ rental brand into London, with the acquisition of two development sites in Havering and Barking. This first venture is expected to mark the start of greater activity over the coming year.

The Company has acquired an 80-unit development site at Beam Park, part of a £1 billion regeneration project underway across the London Boroughs of Havering and Barking & Dagenham, on land released by the Greater London Authority (“GLA”) as part of the GLA’s plans for new London homes.  Sigma has also acquired a 77-unit development site at Fresh Wharf, a major riverside scheme close to Barking Town centre.

4d Pharma PLC (DDDD)120p £68m

4D pharma, a pharmaceutical company leading the development of Live Biotherapeutics, today announces that the Company has entered into a research collaboration and option to license agreement with MSD, the tradename of Merck & Co., Inc., Kenilworth, NJ, USA, to discover and develop Live Biotherapeutics for vaccines.

Under the terms of the agreement 4D’s proprietary MicroRx® platform will be paired with MSD’s expertise in the development and commercialisation of novel vaccines, to discover and develop LBPs as vaccines in up to three undisclosed indications. 4D has the right, subject to certain conditions, to cause MSD to purchase $5m in ordinary shares in 4D during the first 12 months of the collaboration. In addition to an upfront cash payment, for each indication, 4D will be eligible to receive up to $347.5m

1Spatial Plc (SPA) 34.5p £37m

1Spatial, the global spatial software and solutions company announced it has been awarded the Greater London Authority London Underground, Asset Register pilot contract following a competitive process. The GLA has been awarded funding by the Geospatial Commission for a pilot to create a digital map of the utilities and pipes underground, in order to test the feasibility of creating a national register in the future. This project is known nationally as The National Underground Asset Register.

1Spatial, in collaboration with the GLA, will deliver transformed and platform ready asset register data, for the LUAR pilot. In awarding the pilot, GLA took into account 1Spatial’s approach to data transformation, which is designed for agility, flexibility, scale, complexity and managing uncertainty.

PPHE Hotel Grp Ltd (PPH) 1,179p £759m

PPHE Hotel Group, an international hospitality real estate group, announced the opening of the premium boutique hotel, Park Plaza Vondelpark, Amsterdam, following a £9m repositioning programme. This follows the opening of Holmes Hotel London earlier this year and is part of the Group’s £100m multi-year investment programme.

Located adjacent to the Vondelpark in Amsterdam Oud-Zuid, in the museum quarter, Park Plaza Vondelpark, Amsterdam has curated a newly invigorated, colourful design approach with inspiration taken from the bordering Vondelpark and its diverse natural environment. The 102-key hotel is home to a soon-to-launch dining and drinking concept along with gym, private garden for guests and meeting facilities.

Solo Oil Plc (SOLO) 2.38p £15m

Solo Oil, a natural resources investment company focused on acquiring a balanced portfolio of production, development and exploration assets, announces that further to its announcement on 10 September 2019 regarding the Company’s exit of its 20% investment in Burj Petroleum Africa Limited, no other shareholders in Burj have exercised their pre-emption rights in relation to the proposed sale by Solo during the prescribed period, and therefore the disposal by Solo of its shareholding in Burj has now completed.

Solo has divested its interest in this non-core asset for a nominal fee of £1, and in doing so has also relinquished any future costs associated with Burj.

Salt Lake Potash Ltd (SO4) 44p £112m

Salt Lake Potash Limited announced that the conditions precedent to the Sales Agreement with Blackham Resources Limited, announced on 23 July 2019, have been satisfied and the acquisition of a package of tenements and other key assets for the Lake Way Project has completed. The Transaction is another important step in providing the Company with certainty over tenure, timing and capital expenditure required to bring the Lake Way Sulphate of Potash Project near Wiluna in Western Australia’s northern goldfields into production.

Randall & Quilter (RQIH) 214p £419m

Further to its announcement on 1 July 2019, Randall & Quilter Investment Holdings Ltd. confirms that its wholly owned subsidiary Randall & Quilter II Holdings Limited, has completed the acquisition of Sandell Holdings Limited along with its 100% owned subsidiary Sandell Re Ltd which is incorporated in Bermuda and is licensed as a Class 3A segregated account company to write all classes of general business insurance and reinsurance.

Quadrise Fuels Intnl (QFI) 4p £40m

Quadrise Fuels International announced it has entered into an Exclusive Global Collaboration and Emulsifiers Sales Agreement with Nouryon for the exclusive global collaboration and supply of goods and services for future MSAR® projects.  The Agreement will run for three years to October 2022.

Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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