Small Cap Feast

Small Cap Feast – 09th March 2017

Dish of the Day:

Ocelot partners  due to join the Standard List today . Has raised $425m  at $10 for acquisition purposes. Focusing on European TMT prospects


Off the Menu:

No AIM Leavers Today


What’s Cooking in the IPO Kitchen?

BiopPharmma Credit—Targeting $300m + raise on LSE. “This investment trust will give investors access to debt investments tied to the fast growing life sciences industry, offering predictable cash flows over a sustained period of time.” Admission due 27 Mar.

Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.


Breakfast Buffet

Origin Enterprises (OGN.L) €6.4 €803.7m

HY Jan 17 results from the Agri-Services Group. Improved H1 performance in seasonally quiet trading period. Revenue €564m from €507m. Op profit €3.75m from €314k loss.  Interim divi held at 3.15c. Pre-tax loss of €64k from €4m. “The Group is well positioned to respond to current market conditions, and the encouraging start to the seasonally quiet first half provides a good foundation for the seasonally more important second half of the financial year when over 90 per cent of earnings typically arise.” Separately Origin has acquired digital agricultural services group, Resterra Group for initial £11.4m cash consideration. Expected to be earnings enhancing in the first FY of ownership. FYJul17E rev €1.53bn, EPS 44.77c, div 20.98c.


Vipera (VIP.L) 4.25p £10.99m

The specialist provider of mobile financial services has in conjunction with its local partner Wavepac Infosystems LLC, entered into an agreement with the Arab Bank for Investment & Foreign Trade for a multi phase project covering the design, development and implementation of a mobile banking and bill payment solution. The project will utilise Vipera’s Motif platform and Motif middleware components to deliver a state of the art solution to Al Masraf. Once implemented, Al Masraf’s customers will be able to utilise the latest Vipera mobile technology for banking and bill payment within UAE. The Motif platform supports the use of smartphones and wearables for banking & payments and will enable Al Masraf to deliver a range of banking, payment and value added services in the future.


China Africa Resources (CAF.L) 2.88p £2.35m

The natural resource exploration and development company,  announced that Mr Peter Bojtos has been appointed President with responsibility for project origination and development with immediate effect.  Peter Bojtos is a Professional Engineer with over 40 years of experience in the mining industry and a strong background in corporate management; including all facets of the industry from exploration through the feasibility study stage to mine construction, operations and decommissioning. Mr. Bojtos has participated in the financing, development, building or reopening of 19 mines and has had a hand in the operation of 24 producing mines.


Oxford Biodynamics (OBD.L) 133p £116.02m

The revenue-generating biotechnology company focused on the discovery and development of novel epigenetic biomarkers for use within the pharmaceutical and biotechnology industry, announces that Martin Reeves has been appointed as Senior Vice President of Commercial Development. Martin take up this role in March 2017. Martin has over 20 years’ experience in business development and strategic planning, including Teva Pharmaceuticals where he was Head of Business Development for Global Branded Products. “His considerable experience in business development within the sector will be a great asset to Oxford BioDynamics as we look to leverage IP licensing opportunities with our award-winning, proprietary technology platform, EpiSwitch™.”


W Resources (WRES.L) 0.39p £17.22m

Strategic review update and £750k placing at 0.35p. The strategic review has highlighted that there is a significant opportunity for W accelerate the development of its copper and gold projects by focusing dedicated funding in this area which will increase the value of these assets. Therefore, the Board has decided to evaluate alternatives to separate these projects from W and is considering strategies including listing them in a new vehicle on the London Stock Exchange. “Construction of the plant remains on track at La Parrilla and we are now in a position to order the crusher, jig and mill which keeps us on track to resume tungsten production in the second half of 2017.”


Tlou Energy (TLOU.L) 7.63p £18.1m

The Company focused on delivering power in Botswana and southern Africa through the development of coal bed methane announced  results of a report completed by SRK Consulting on existing Aeromagnetic data which  provided critical data for future Reserves assessments and field development. The local structure is characterised by the presence of highly magnetic sills and dykes composed mainly of dolerite. Although these intrusive bodies have been intersected in many wells, they have minimal negative impact on gas production or coal continuity. As announced 27 Feb, Tlou signed a Heads of Agreement with Independent Power Corporation PLC to jointly develop the proposed (up to) 100MW CBM to power project.


CAP-XX (CPX.L) 10p £29.77m

CAP-XX has launched two new ranges of supercapacitors for applications in the Internet of Things (IOT). These double layer supercapacitor modules are the first devices launched by CAP-XX in a cylindrical form and are available in single and dual cell configurations. The new devices have been designed to offer an unparalleled combination of high performance and low cost, for use in less space constrained industrial and consumer applications in energy harvesting and peak power support.


Nautilus Marine Services (NAUT.L) 17.25p £6.23m

FYDec16 results from the Group that is focused on investing in and providing marine offshore services to the energy sector.  Fundamental change of the business has been completed with its first acquisition of offshore service vessels. The Group’s new strategy is to acquire or invest in offshore energy assets and commercialised niche technologies in the currently distressed market in order to position itself as specialised service provider. The Group has moved its business focus away from the exploration and production of oil reserves in Colombia. Turnover of $178k and $7.3m operating loss. Now sole lender of $12m Everest Loan Note with an 8% coupon.


STM Group (STM.L) 39.5p £23.47m

The cross border financial services provider has provided an update concerning yesterday’s UK Spring Budget. The Chancellor indicated that there will be significant charges and tax implications for some individuals considering taking out a QROPS transfer from a UK pension scheme. It would appear that those expatriate individuals living outside the European Economic Area (80% of STM’s new QROPS business) would incur a 25% exit tax on their pension fund unless they are transferring to a QROPS in the country they are resident in. New applications for the SIPP business may have some mitigating effect.


EQTEC (EQT.L) 7.5p £13m

Placing of £485k at 6.5p. EQTEC will use the net proceeds from the Placing primarily in continuing the development of the Newry Biomass project, including advancing some of the initial work streams involved in re-powering the plant such as engineering, design and preliminary mechanical and electrical works in readiness for the financing, construction and commissioning of the project by Newry. The proceeds will also be used for continuing investment in its pipeline of projects with updates to follow as appropriate. A 336k shareholder loan is also  being converted at 6.5p.


Head Chef:

Derren Nathan
0203 764 2344

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