Small Cap Feast

Small Cap Feast – 17 January 2022

Dish of the Day:

Genflow Biosciences (GENF.L), a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age has joined the Main Market (Standard). The Company will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7m in an oversubscribed placing. The flotation will value Genflow at approximately £23.4m.

Off the Menu:

NQ Minerals has left the Aquis Stock Exchange.

What’s Cooking in the IPO Kitchen?

Clean Power Hydrogen, the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser is seeking to join AIM. The Group designs and manufactures hydrogen production units and is focused on the commercial production of green hydrogen in a simple, safe, and sustainable manner. The Group intends to raise approximately £50m. Timing TBC.

SuperSeed Capital Limited, to join the AQSE Growth Market. The Company will invest in technology-led innovation primarily through unquoted funds managed by SuperSeed Ventures, the Company’s Investment Manager, with the objective of maximising the investors’ long term total returns – principally through capital appreciation. Mkt Cap and Capital to be raised TBC.

Carbon Air, a nano-technology company which leverages the adsorption properties of activated carbon and other advanced materials to improve suspension systems, enhance acoustics or reduce noise, to join AIM. The Company’s proprietary technology has allowed it to develop a unique portfolio of solutions for a variety of sizeable end markets, including vehicle suspension systems, acoustic insulation for domestic appliances and micro-speakers for smartphones. Mkt Cap and Capital to be raised TBC. Due Late Jan.

i(x) Net Zero, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to join AIM and raise money to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide working capital for the Group. Capital to be raised £20m. Expected admission late Jan.

Spiritus Mundi due to join the Main Market (Standard), a special purpose acquisition vehicle which will seek acquisition targets in Europe and Asia in the clinical diagnostics sector. The Company has already raised approximately £1.2m in a pre-IPO fundraising round. Due late Jan 2022.

Recycling Tech Group to join AIM, a UK-based engineering, research and manufacturing company that has developed a modular and mass producible machine, the RT7000, which processes hard to recycle plastic waste into a synthetic oil that can be sold back to the petrochemicals industry as a chemical feedstock to make new plastics. Targeting a £40m raise. Due early Q1 2022.

Nu-Oil and Gas  to acquire Guardian Maritime Ltd and Guardian Barriers IP Ltd and become Guardian Global Security plc and join the Main Market (Standard). Guardian is a technology group that supplies products to prevent unauthorised entry into areas that are deemed to have value, with maritime security being the main focus initially. Due 24th Jan 2022.

Breakfast Buffet

4GLOBAL 90.5p £23.8m (4GBL.L)

The UK-based data, services and software company focused on major sporting events and the promotion and measurement of physical activity  has launched its latest version of its Social Value Calculator. 4GLOBAL’s SVC is designed to give leisure providers a tool to measure and provide evidence of the social value created from investment in sport and physical activity. The SVC is a fundamental element in 4GLOBAL’s business model, in use since the Company’s inception, and enables clients to calculate an estimate of the monetary value arising from investment. The new version uses a duration-based model with a focus on the amount of time per week people spend engaged in physical activity. The model now extends to include those who are less active rather than the previous focus on the more active only. The new version of the SVC also enables clients to assess the financial benefits arising from improvements in physical and mental health, subjective wellbeing, individual development and social and community development.

Altus Strategies 59.5p £69.8m (ALS.L)

Altus Strategies announces the appointment of Michael Starke as VP Corporate Development with immediate effect. Mr. Starke has over 14 years’ experience in corporate finance in the natural resources industry. He was previously Corporate Finance Manager for SolGold plc (LSE & TSX: SOLG), prior to which he worked for eight years with Standard Bank (London) in investment banking and mining equity research with a primary focus on Africa. Michael holds a BSc in Geology and an MSc in Environmental Geochemistry from the University of Cape Town and is registered with the South African Council for Natural Scientific Professions (SACNASP). Altus is a mining royalty company generating a diversified and precious metal focused portfolio of assets.

Applied Graphene 22p £14.15m (AGM.L)

England’s Environment Agency (EA) has successfully completed its first application of AGM’s harsh environment anti-corrosion product to one of its flood defence assets on the North East coast of England. The coastal flood defence gates were coated with AGM’s new graphene enhanced Genable CX-based anti-corrosion primer. AGM’s coating system that was used in this project is a further iteration of AGM’s product offerings for barrier performance and anti-corrosion application. It represents the culmination of 18 months of in-depth testing and evaluation of anti-corrosion performance for both salt-spray and immersion in harsh test regimes. This first customer application on a coastal facility represents a major milestone in customer exploitation of AGM’s graphene-enhanced coatings systems for corrosion protection in harsh coastal environments. The coating of the EA’s asset is the first of several planned applications of the system.

BiVictriX 33p £21.8m (BVX.L)

The emerging biotechnology company applying a novel approach to develop next generation cancer therapies using insights derived from frontline clinical experience, today announces that it has appointed Dr Michael Kauffman, M.D., Ph.D. to its Board of Directors as an Independent Non-Executive Director with immediate effect. Dr Kauffman joins the BiVictriX Board with more than 20 years of experience in the life sciences industry, including expertise in preclinical research, clinical development, and regulatory strategy. He currently serves on the Boards of Karyopharm Therapeutics Inc, Verastem Oncology, Kezar Life Sciences and Adicet Bio. Prior to joining Karyopharm, Dr Kauffman was Chief Medical Officer of Onyx Pharmaceuticals Inc., which acquired Proteolix Inc. and, before that, was President and Chief Executive officer of EPIX Pharmaceuticals, Inc. (previously Predix Pharmaceuticals, Inc.).

H&T Group 293.5p £117m (HAT.L)

The UK’s leading pawnbroker, today announces an update in respect of recent trading performance following the financial year ended 31 December 2021. The company’s priority in 2021 was to focus on its core pawnbroking and retail sales business, rebuilding the pledge book as borrowing demand returned and maximising retail sales and other opportunities once Covid-19-related trading restrictions were lifted in April. Following the update provided at the time of publication of the Group’s interim results on 9 August, trading performance during the second half remained consistently strong and the Group expects to report profit before tax for the full year within the range of current market expectations.

Midatech Pharma 18.75 £11.9m (MTPh.L)

The drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines, announced the extension of its R&D collaboration with Janssen Pharmaceutica NV (Janssen) originally announced on 21 July 2020. On 17 June 2021, the Company announced that, using its Q-Sphera technology, it had successfully encapsulated a proprietary Janssen experimental large molecule medicine and importantly preserved its functional integrity. Under the extended collaboration the Company will focus on maximizing drug loading and optimising in vitro duration of release for this undisclosed Janssen experimental molecule using the Company’s Q-Sphera technology.

Poolbeg Pharma 9.25p £46.25m (POLB.L)

The clinical stage infectious disease pharmaceutical company with a capital light clinical model, has in-licenced a novel, first-in-class RNA-based immunotherapy for respiratory virus infections developed at the University of Warwick. Poolbeg has secured an exclusive licence to this dual antiviral prophylactic and therapeutic candidate, which is at a late-pre-clinical development stage. In vivo data confirms that this immunotherapy asset targets pan-respiratory virus infections, which could include influenza, respiratory syncytial virus (RSV), SARS-CoV-2 and others. The candidate, which will be developed by Poolbeg as POLB 002, was developed at the University of Warwick and derived from twenty years of research with world class virologists, Professor Andrew Easton and Professor Nigel Dimmock.

Reabold Resources 0.22p £19.375m (RBD.L)

The investing Company focused on upstream oil and gas projects, announced initial results of analysis of the West Newton Extended Well Test (EWT) programme carried out in the second half of 2021 by RPS Group and the results of analysis carried out on fluids produced to surface. Independent study by RPS Group indicates potential for initial production rates of 35.6m cubic feet of gas per day  from a horizontally drilled well situated in the gas zone, based on the data from the West Newton A-2 well. Study also indicates potential initial production rates of 1,000 barrels of oil per day from a horizontally drilled well situated in the oil zone, based on well data from West Newton A-2. Fluid analysis confirms that hydrocarbon liquids recovered to surface are low specific gravity, low viscosity, light oil or condensate, and that gas recovered to surface is good quality with high heat content.

Xpediator 55.25p £78.28m (XPD.L)

The provider of freight management services across the UK and Central and Eastern Europe, announced its subsidiary, Delamode International Logistics Limited, has signed a 10 year lease for a new, purpose built 180,000 sqft (35,000 pallet spaces) storage, fulfilment and distribution warehouse in Roosendaal, Netherlands. Occupation of the site will commence from March 2023, once construction which will include a significant solar element, has been completed. Xpediator has also agreed to take 6,500 pallet spaces in a partner warehouse for 12 months also in Roosendaal, from March 2022 to meet existing Delamode International Logistics customer demand, with the option to increase to 15,000 pallet spaces. Several of their customers have now concluded in a post Brexit market, that splitting their stock between the UK and mainland Europe is the best course of action to maintain the shortest possible time to bring products to market. The lease will bring much needed space to meet customer demand. The Company will provide a trading update for the 12 months to 31 December 2021 at the end of this month.

Vela Technologies 0.04p £6.65m (VELA. L)

The Board of Vela, an AIM-quoted investing company focused on early stage and pre-IPO disruptive technology investments, announces that it has invested £750,000 in EnSilica Limited, a leading fabless semiconductor design business focused on custom mixed signal Application Specific Integrated Circuits, in the form of convertible loan notes, as part of a pre-IPO funding round being undertaken by EnSilica to raise up to £1.5m. EnSilica focuses on the design and supply of custom mixed signal ASICs to system companies and original equipment manufacturers, managing the manufacturing process end-to-end. Unaudited accounts show that EnSilica generated revenue of £8.4m and an adjusted EBITDA of £0.8m in the year ended 31 May 2021; and that at 31 May 2021 EnSilica’s net assets were £3.9m. According to unaudited management accounts, in the six months to 30 November 2021, EnSilica generated revenues of £7.3m.

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