Small Cap Feast

Small Cap Feast – 22nd August 2016

Dish of the Day:

Autins Group (AUTG.L) joins AIM today. 26.6m placing oversubscribed at 168p

Off the Menu:

Yujin Intl (YUJ.L) to  move from AIM  to ISDX

LED (LED.L) International leaves AIM due to NOMAD not being replaced

Vietnam Infrastructure Fund (VNI.L) leaving AIM following compulsory repurchase of all shares

What’s Cooking in the IPO Kitchen?

LoopUp—The provider of conference calls and online meetings is seeking to join AIM. 2015 revs of £9.2m and EBITDA of £1.02m

Bacanora Lithium— To list on AIM around 28 Sep as holding company for TSX listed Bacanora Minerals at £100m market cap

Aura Energy—ASX listed uranium developer (ASX:AEE) expected to join AIM 6 September

 

Breakfast Buffet

FastForward Innovations (FFWD.L) 12.38p £16.5m

Updates on its investee companies include: Yooya exceeded 700m video views in July. Leap Gaming signed a direct licensing agreement with Pala Interactive, giving it access to the US market, for the social gaming space. Schoold  has grown its audience to over 1.3 million downloads of its app, and has added a significant number of users month-over month at a reduced cost per user. SatoshiPay has formalised a partnership with Visa Europe through the release of a proof-of-concept product utilizing SatoshiPay’s technology.

 

Elegant Hotels (EHG.L) 69p £61.3m

The owner and operator of six upscale freehold hotels and a beachfront restaurant on the island of Barbados,  announced that its recent acquisition, Waves Hotel and Spa (“Waves”), is now open for business. Waves has been extensively redesigned and refurbished since the Group acquired it for US$18m in March 2016, and now boasts 70 luxurious bedrooms, two restaurants, a coffee shop and deli, a fitness centre, a bar, two swimming pools, and a destination spa with eight treatment rooms. Fy16e 7x PE. 9.4% yield. 

 

Nektan (NKTN.L) 42.5p £10.2m

The international mobile gaming provider has entered into an asset transfer and simultaneous licensing agreement with Buckingham HMB Ltd (“Buckingham”) for three of the Company’s wholly-owned gaming brands. Buckingham will pay the Company a cash consideration of £1.75 million, with a further £200,000 expected to follow shortly, for the assets, whilst simultaneously entering in to a five-year licensing agreement with the Group for the continuing operation of the brands under Nektan’s white label Evolve platform

 

Scancell Holdings(SCLP.L) 18.5p £48.4m

The developer of novel immunotherapies for the treatment of cancer, today announces the appointment of Dr Alan J. Lewis to the Board of Scancell as Non-Executive Director with immediate effect.  Alan has extensive experience in the US life sciences industry with a proven track record of raising funds and advancing drug discovery and development in both biotechnology and large pharmaceutical companies.  Was CEO of Signal Therapeutics  when acquired by Celgene for $275m.

 

4D Pharma (DDDD.L) 710p £460.5m

The pharmaceutical company focusing on the development of live biotherapeutics, announced that it has commenced dosing in a phase 1 clinical trial with Thetanix for the treatment of Paediatric Crohn’s disease (‘PCD’).  The Primary Outcome Measure of the study will focus on the safety and tolerability of the Thetanix product, whilst the Secondary Outcome Measures include assessment of Weighted PCD Activity Index, analysis of the microbiome of subjects, &  an inflammatory marker of disease.

 

Safeland (SAF.L) 64p £9.96m

The principal activities of the Group comprise property trading, property refurbishment (including redevelopment), property investment and property fund management.  Final results to Mar 16: Group revenue of £21.1m comprises sales of development properties, rental income, management fees, and hotel revenue from the north London hotel (now closed), and was significantly in excess of the £10.3m in the FY2015. Operating profit fell from £6.9 million in the year to 31 March 2015 to £5.9 million. NAV/Share up 29% to 114p.

 

Palace Capital (PCA.L) 322.5p £82.7m

The property investment company that focusses on commercial property mainly outside London, confirms that it has now completed the acquisition of Boulton House, Chorlton Street, Manchester. Boulton House is a 75,000 sq ft multi-let 1970s office building, the acquisition of which was first announced by the Company on 14 June 2016. The net price paid by the Company was £10.575 million and a new debt facility of £6.022 million has been secured with Santander.

 

Image Scan Holdings (IGE.L) 5.75p £7.2m

The Specialist supplier of X-ray screening systems to the security and industrial inspection markets, provided a trading update for FYSep16.  Following on from the development of the supply chain and manufacturing plans for the large order for ThreatScan®-LS1 portable X-ray systems , announced in June, the Company anticipates to have recognized the sale of approximately £400k by the end of the financial year & expects to materially exceed market expectations (£2.3m revenues).

 

MBL Group (MUBL.L) 14.5p £2.5m

The UK Distributor and Wholesaler of Home Entertainment Products  has reported FYMar16 results. Group revenue increased 14% to £14.8 million. Operating profit £21,000 (2015: loss £883,000, including a £450,000 exceptional impairment to intangible assets). No dividend is proposed. The Group ended the year with cash balances of £1.9 million.  On current trading the year has started well and sales in both divisions are in line with management expectations.

 

365Agile Group (365.L) 33.5p £6.3m

Following the departure of the Group’s CEO in April, the Board has reassessed its strategy to develop a meaningful business in the Internet of Things space resulting in the proposed closure of  its operations based in Nottingham and trading under the Wireless Things name. Should this transpire the company will become an AIM Rule 15 cash shell funded by the ongoing payments it receives from a licence Agreement.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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