Small Cap Feast

Small Cap Feast – 19th October 2016

Dish of the Day:

No AIM Primary Today

Off the Menu:

No AIM Leavers Today

What’s Cooking in the IPO Kitchen?

Misys— Press reports that the IPO valuation is to be cut by £1bn against an expected £5bn

TI Van Elle—The geotechnical contractor to the UK construction market is hoping to come to AIM later this month

Ascot Lloyd— The UK IFA is also hoping to join AIM later this month. Ascot Lloyd’s strategy is to grow through a combination of organic growth and further targeted acquisitions.


Breakfast Buffet

Eco Animal Health (EAH.L) 495p £317.9m

The specialist in the development, registration and marketing of pharmaceutical products for animals has received a marketing authorisation from the Thailand Food and Drug Administration for the use of Aivlosin® 625 mg/g water soluble granules in chickens laying eggs for human consumption. This approval, the first following the European approval in June, will allow ECO to start selling Aivlosin® in Thailand for the medication of drinking water for the treatment of respiratory infection in poultry laying eggs.  Thailand is one of the top 20 egg producers globally.


Tern (TERN.L) 7.37p £8.49m

The company specialising in cloud and Internet of Things (“IoT”) sectors, is pleased to announce that it has invested a further £2m in Device Authority taking its stake to 56.9%. “Over recent months we [Device Authority] have been delighted to sign up new partnerships with Intel, Dell, DigiCert and Cumulocity, all of which are highlighting that IoT security is becoming a bigger concern.“ The funding will be used to expand Device Authority’s sales and marketing teams to respond to their new and growing go to market partnerships and to meet the increased demand in the Industrial and Healthcare IoT markets.


Ariana Resources (AAU.L) 1.68p £14.1m

The gold exploration and development company operating in Turkey, announced further results for its Phase One drilling programme of 2016, completed during early September at the Kiziltepe Project. 7 holes. Best intercepts from the southern end of Arzu South include, 5m @ 6.9g/t gold + 138.5g/t silver. Intercepts testing the ASP vein returned with anomalous grades including, 1m @ 3.7g/t gold + 9.7g/t silver. This suggests good potential for further addition to resources at the 50% owned project.


Taptica International (TAP.L) 152.5 p £95.35m

The end-to-end mobile advertising platform for advertising agencies and brands, announces that it has been appointed as exclusive mobile advertising partner by Codoon, China’s largest sports events and social service platform, to drive qualified user installs of its Runtopia app in the UK, US, Canada, Australia and elsewhere. This is the first campaign that Codoon has conducted in the US.  Runtopia is a sports community app, which consumers can use to track runs as well as share exercises and meet others through its social network. FY16EPE 9.5x.


Hotel Chocolat (HOTC.L) 227.5p £256.7m

Maiden Jun16 prelims from the premium British chocolatier and omni-channel retailer. Revenue up 12% to £91.1m (2015: £81.1m), EBITDA (pre-exceptional) up 57% to £12.3m. Pre-tax profit (pre-exceptional)  up 181% to £8.2m. & new store openings and expansion of factory capacity by 20%. There are no forecasts in the market.


Plutus PowerGen (PPG.L)1.48 p £10.2m

The power company focused on the development, construction and operation of flexible power projects in the UK, has signed a Letter of Intent with a specialist UK based energy company to work together to develop a 100MW gas-powered energy generation portfolio.  The agreement, which is subject to contract, will expand the Company’s power supply capabilities and is in line with its strategy to become a dedicated merchant supplier and producer of energy for the UK market.


Feedback (FDBK.L) 1.88p £3.82m

The provider of imaging tools for clinical decision makers has released FYMay16 results. Revenue for the year was £431k (2015: £382k) and the loss after tax was £183k (2015: Loss £1.1m). Cash as at 31 May 2016 was £105,673 (31 May 2015: £63,261). Cash as at 13 October 2016 was £94,629. After the year end Feedback announced a large-scale collaboration with Future Processing Sp. z o.o., a software development service provider based in Gliwice, Poland to develop medical imaging software. Healthy new product and partner pipeline.


GW Pharmaceuticals (GWP.L) 853p £2,567m

The biopharmaceutical company focused on discovering, developing and commercialising novel therapeutics from its proprietary cannabinoid product platform,  intends to delist from AIM on 2 December and maintain only its NASDAQ listing. Since listing on NASDAQ in 2013, GW has raised nearly $800 million largely from U.S. investors. Following the cancellation of the AIM listing, GW will continue to be headquartered and domiciled in the UK


Advanced Oncotherapy (AVO.L) 115p £79m

The developer of next-generation proton therapy systems for cancer treatment, announced that at a meeting held yesterday at Westminster City Council, planning permission for the Harley Street site was granted. Recent press reports had highlighted concerns from locals. We are glad that patients will be  able to access this life saving technology.


One View Group (ONEV.L) 5.38p £18.9m

The digital transformation software provider for in store customer service,  has provided a trading update. The first UK hosted customer was a pivotal event and there is strong interest but delays in the pipeline mean that current year revenues are likely to be below market expectations.


Head Chef:

Derren Nathan
0203 764 2344

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