Small Cap Feast

Small Cap Feast – 24 June 2020

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Breakfast Buffet

Mirada 90p £8m (MIRA.L)

Mirada plc, a leading provider of integrated software solutions for digital TV operators and broadcasters, releases global data from their data analytics platform, LogIQ, showing an unprecedented rise in worldwide TV content consumption since the beginning of the COVID-19 lockdown.

Between 1 February and 30 April, total linear TV (traditional, scheduled TV) consumption increased by 24%, with an 18% increase in average linear consumption between Monday and Friday. As expected during a global pandemic, part of this increase comes from the huge growth in consumption of linear news channels, which escalated by over 80% during the period.  Meanwhile, the selection of premium linear channels opened up by Mirada’s customers, to which consumers newly subscribed, saw more than a 170% increase in consumption. 

Video on Demand (VoD) consumption across the pay TV operators’ platforms increased by 41%, with a 32% increase in average VoD consumption between Monday and Friday. The data also revealed a significant increase in VoD consumption of children’s content, which rose by 56%.

 

Blue Star Capital 0.205p £7.7m (BLU.L)

The investing company with a focus on esports, payments, technology and its applications within media and gaming, provides an update regarding its investee company Dynasty eSports Pte Ltd. Dynasty has today announced that it has signed a five year exclusive partnership agreement with Malaysia ESports Federation, via its Kuala Lumpur based subsidiary Dynasty eSports (M) Sdn Bhd, to provide its eSports Portal Management (“EPM”) platform to enable effective management and control of the eSports ecosystem within Malaysia.

 Dynasty’s EPM platform will be fully white-labelled, customised and branded for MESF and will bring together the main elements of the eSports ecosystem being the players, the organisations and the tournaments, under one single integrated digital platform with the intention of providing a shared national and global view of the eSports industry.

 

Ixico 68p £32m (IXI.L)

Expected strengthening FY20 financial performance of at least £9.1m revenues, £0.9m EBITDA and positive operating cash.

The data analytics company delivering insights in neuroscience, announces a trading update, confirming that the impact of COVID-19 has been modest and that IXICO expects to maintain double-digit revenue growth across FY21.

The Board is now pleased to confirm that the impact of COVID-19 on the Company’s expected financial performance for FY20 has been modest, and it is confident of achieving at least £9.1m revenues and £0.9m earnings before interest, tax, depreciation and amortisation (‘EBITDA’) with positive operating cash for the year ended 30 September 2020. This would represent a fourth consecutive year of revenue growth of 20% or more and an increase in EBITDA margin from 6% to 10% compared to the prior year, despite COVID-19 disruptions to clinical trial timelines.

 The Board also expects the Company to continue to maintain double-digit revenue growth across FY21 whilst continuing to invest to ensure the Company is ready to scale as those clinical trials delayed due to the COVID-19 crisis are initiated.

 

Escape Hunt 9.5p £2.5m (ESC.L)

The operator of escape rooms in the fast-growing experiential leisure sector, has launched remote versions of its most popular 5* rated escape room experiences Doctor Who: Worlds Collide and The Fourth Samurai via remote platforms.  

In this brand-new remote experience, friends, families and colleagues can come together via Zoom and play Escape Hunt’s physical escape rooms – Doctor Who: Worlds Collide and The Fourth Samurai – from their own homes. Customers will take control of a real-life expert games master, move them around the physical room, find hidden clues, solve puzzles and battle to escape before time runs out.

Both games are charged per game on an hourly basis and are suitable for 1 to 6 players over eight years old.  For more information access: https://escapehunt.com/uk/play-at-home-games/

 

Serinus Energy 7.5p £17.9m (SENX.L)

The Company and the European Bank of Reconstruction and Development have agreed to defer the debt repayment due on 30 June 2020.

In connection with the current COVID-19 and the short-term effects on economic activity generally, the Company had requested that the scheduled repayment of principal due to made by 30 June 2020, under the Convertible Loan Agreement, be deferred.  Under the terms of the deferral the Company will pay US$2.0 million of the debt payment obligation due on 30 June 2020, with the remaining US$6.44 million of the debt obligation deferred for 12 months.  Under the deferral agreement, the Company will undertake with the EBRD to restructure the terms and conditions of the Convertible Loan Agreement, and of the Financing Agreements, no later than 18 December 2020.

The Company has also received a formal waiver from the EBRD in relation to the debt service covenant on its Convertible Loan for the period ending 30 June 2020.

Serinus is an international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania.

 

Sunrise Resources 0.17p £5.6m (SRES.L)

Sunrise Resources has announced the positive outcome of the public comment period on the Environmental Assessment (EA) for its CS Perlite-Pozzolan Project in Nevada, USA,

Officially the 30-day public comment period closed on 15 June 2020 and the lead regulatory agency, the Bureau of Land Management, allowed a further 7-day period for the receipt of postal submissions made on or before that date. This 7-day period closed 22 June 2020.

 Only three comments were received. All three comments were federal and state agency comments of a minor nature that will be addressed by minor edits to the EA. Responses to the comments will also be provided as an appendix to the Final EA. There were no public comments or comments from Non-Governmental Organisations (NGOs). Once these comments on the EA are addressed and an updated EA submitted, the Company then awaits the issuance of the Decision Record and Finding of No Significant Impact (FONSI) from the BLM, being the final approvals in the BLM permitting process.

 

Everyman Media 136p £124m (EMAN.L)

Everyman Media Group PLC, the independent, premium cinema group announced  that its venues will start to reopen from 4th July 2020.

 Following the government announcement yesterday (Tuesday 23rd June), Everyman will reopen its venues in phases and in line with recommended safety guidelines. The Company’s intention is for all of its 33 venues to be open by 24th July 2020. 

 As well as reopening its existing estate, Everyman will also be the first cinema to open an all new venue post the pandemic; the flagship cinema on the iconic King’s Road, Chelsea, on 24th July.

 

Brooks Macdonald Group 1660p £267m (BRK.L)

Binding agreement to acquire the Channel Islands wealth management and funds business of Lloyds Bank International Limited.  Funds under Management (FUM)  of £1.0 billion all managed on a discretionary basis, comprising:

o  An investment management business with c.£500 million in FUM serving c.1,200 portfolio clients

o  A funds business with c.£500 million in FUM, predominantly distributed through c.50 independent financial advisers, and serving c.10,500 mainly personal clients.

The total consideration is expected to be up to £9.63 million, including £2.5 million of regulatory capital, with initial consideration being up to £9.30 million.  The full consideration will be paid in cash from Brooks Macdonald’s existing financial resources.  A contingent cash consideration of up to £0.33 million will be payable two years after completion depending upon the acquired business meeting certain pre-agreed performance targets relating to the retention of portfolio clients.  Completion is expected to take place in the fourth quarter of 2020 subject to regulatory approval.

 

Pelatro 65p £21.2m (PTRO.L)

The telecom Customer Engagement software specialist, today announces that an existing customer has expanded a Business Consultancy engagement to a full Managed Services contract. This deepens the engagement between that customer and Pelatro, while Pelatro expect to add more value to the operations of the telco. This long term Managed Services contract will generate approximately US$2 million of revenue for the Group over the next five years, and underpins the Board’s confidence in this year’s market expectations. The new contract starts with immediate effect.

 

Futura Medical 18.5p £45.4m (FUM.L)

AGM Statement

  • Limited impact from COVID-19
  • As disclosed on 6 April 2020, following receipt of the formal FDA meeting minutes from 24th February, the US FDA has agreed to a De Novo medical device application for MED3000 and invited Futura to pursue another pre-submission meeting once the Company was in receipt of the final clinical study report (CSR) for FM57.
  • On 20th April it was announced that the company had filed for a further pre-submission meeting with FDA in the coming months. This meeting date has now been set with the FDA and will be used to further discuss clinical sufficiency following completion of FM57’s CSR.
  • If successful, this could lead to a US submission filing by the end of Q3 2020 to enable FDA review for pre-marketing clearance.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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