Small Cap Feast

Small Cap Feast – 24th February 2017

Dish of the Day:

Saffron Energy –Expected to join AIM today.  Has Hydrocarbon producing assets in Italy

Off the Menu:

No AIM Leavers Today

What’s Cooking in the IPO Kitchen?

GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow.

Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo.

Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime.  Issue closing 23 Feb.


Breakfast Buffet

PowerHouse Energy Group (PHE.L) 1p £8.94m

PowerHouse  has agreed with University of Chester to deploy its G3-UHt unit (ultra-high temperature demonstration gasification system)   at its Thornton Science Park, adjacent to the newly constructed Energy Centre of the University – a facility providing flexible space where industry and academia come together to innovate, develop, and demonstrate new, intelligent, energy technologies. The Company has entered into a heads of terms  with the University to take offices at Thornton Science Park to support the G3 Unit and to allow potential customer and partner evaluation of the G3 system.


IDOX (IDOX.L) 72.25p £292m

AGM Statement from the supplier of information management software solutions and services to the public sector. “Idox has made a strong start to the new financial year building on the good performance and organic and acquisitive growth of 2016, with trading for the current financial year in line with our expectations. We are seeing a solid pipeline of opportunities and are pleased to have recently secured significant contracts in healthcare and transport and continuing wins across other segments.” Recently launched IDOX Health has won contracts with two acute hospital trusts and has been awarded a grant by NHS England to develop a product to improve hospital efficiency and improve treatment outcomes for in-patients in acute stroke care. FYOCT17E £94.7m rev and £22.1m PBT.


Sound Energy (SOU.L) 89.25p £600m

The African and European focused upstream gas company, announced that the third Tendrara well, TE-8, has now been drilled to the first casing point at a measured depth (“MD”) of 461 metres and that the 13 3/8″ casing is being set and cemented in the top of Upper Lias formation.  The Company will now proceed to drill towards the second casing point at an MD of approximately 2,070 metres.


Cloudtag (CTAG.L) 22.25p £21.85m

The Company that brings personal monitoring to the wellbeing, fitness and digital health markets hereby announced that it has raised gross proceeds of £975,000 at 3.75p. The Subscription was completed with the clients of Novum Securities Limited. The Net Proceeds will be used for general working capital purposes.  The Company is pre-revenue generating and is therefore dependent on its ability to raise further capital to continue its operations in the short term.  The board is carefully managing the Company’s cash position. Cairn Financial Advisers has served notice on the Company that it will resign as the Company’s nominated advisers with effect from 10 April 2017. The company is in discussions with another NOMAD and broker.


Advanced Oncotherapy (AVO.L) 57.5p £41.68m

The developer of next generation proton therapy systems for cancer treatment, announced that further to the financing agreement with Bracknor announced on 22 February 2017, the first tranche has been drawn down by the Company and the initial funds of £1.3 million received (less 5%). Bracknor is prohibited from short selling ahead of any conversion notice, being the notice given to the Company that Bracknor wishes to convert the loan notes into AVO shares. Following the earlier grant of planning consent for the Harley St site a principal contactor has been appointed with excavation due to commence by the end of Q1.


Diversified Gas & Oil (DGOC.L) 62p £65.47m

The US based gas and oil producer, has reached a definitive agreement to acquire a package of producing gas and oil wells in the states of Ohio and Pennsylvania for $1.75m in cash. Expands held by production acreage by approximately 75,250 acres.   Gas – 3,800 gross Mcfd, representing a 14% increase to current gross production.  Oil – 110 gross bopd, representing a 23% increase to current gross production. Accretive to operating cash flow.


Atlantis Resources (ARL.L) 50.5p £59m

The specialist in the tidal power sector, confirms, following Monday’s announcement of the deployment of the first AR1500 tidal stream turbine at the MeyGen project site in the Pentland Firth, Scotland, that the 1.5 megawatt turbine has already successfully exported power to the grid and has operated at full power.  The Atlantis AR1500 tidal stream turbine was successfully deployed in less than 60 minutes following earlier connection of its proprietary wet mate connection management system, which allows for rapid deployment and retrieval of the tidal stream turbine.


EU Supply (EUSP.L) 13.5p £9.14m

The e-procurement software provider, announced that it has been awarded a grant from the European Union for the development of additional features to its CTM™ platform. The Grant is expected to be worth up to 120,000 and to be received during 2017. It has been awarded for the development of certain additional features to the Company’s CTM™ platform in order to meet new legislative requirements in the EU/EEC countries.   FYDEC16E rev of £3.4m and £1m pre-tax loss.


Edenville Energy (EDL.L) 0.85p £7.2m

As the Company is now concentrating on advancing activities at its Rukwa coal deposit, the Company’s exploration prospecting licence for uranium has been relinquished.  This Matiri South licence (PL6147/2009) covers 28.5 sq km and was originally acquired for shares at the time of the Company’s admission to AIM in 2010.  After initial investigation the licence area appears to contain little indication of economic mineralisation and no further work has subsequently been undertaken in connection with this licence.  Cost savings of c.$32k but will incur an impairment charge.


Cambridge Cognition (COG.L) 77.5p £15.8m

Takeda Pharmaceuticals U.S.A., Inc., a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited (TSE:4502) and Cognition Kit Limited, a joint venture between Cambridge Cognition and Ctrl Group Limited, announced a collaboration to pilot the use of a specially designed app on an Apple Watch wearable to monitor and assess cognitive function in patients with Major Depressive Disorder (MDD). 30 participant study with output expected in H1.


Head Chef:

Derren Nathan
0203 764 2344

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