Small Cap Feast
Small Cap Feast – 28th November 2016
Dish of the Day:
No AIM Joiners Today
No AIM Joiners Today
Off the Menu:
No AIM Leavers Today
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What’s Cooking in the IPO Kitchen?
Warpaint London—Schedule one update. Raising £2.5m at 97p. Expected mkt cap £62.6m vs revenues of £22.3m
Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November
Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December.
Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
Metal Tiger (MTR.L) 1.95p £12.89m
The independent Directors of Metal Tiger will not be recommending last week’s offer from BMR Group of 0.231 BMR shares per MTR share on the basis that it fundamentally undervalues the Company. The Independent Directors recognise that there are synergies between the Companies that could benefit Metal Tiger and its shareholders and, in the event that a significantly improved indicative offer is received from BMR, they confirm that they are willing to enter into negotiations with BMR after the results of the scoping study in Botswana have been announced.
Rosslyn Data (RDT.L) 9.38p £7.1m
Trading update (H1Oct16) from the provider of a cloud-based enterprise data analytics platform. The Company has continued to trade positively and build on its foundations of growth. Most notably it has added a further FTSE 100 and a Fortune 100 client, whilst continuing to expand its footprint in its current client base and expand its Partner program. Both the average and lifetime contract value is trending upward, now being more than 50% greater than at the IPO at over £75,000 per annum. FYAPR17E rev of £5.3m. £0.7m pre-tax loss.
Market Tech Hldgs (MKT.L) 137.5p £646.53m
Market Tech, which owns, manages and is developing a unique 16 acre estate of office, retail, leisure and living spaces in London, including the iconic Camden Markets, announced that it has signed two leases with British footwear icon Dr. Martens, which is to open an innovative concept store in Stables Market and upgrade its existing European headquarters in Camden Town. A ten-year lease has been agreed across two floors covering 23,470 sq ft of office space in Camden Wharf.
Draper Esprit (GROW.L) 355p £144.65m
The venture capital firm involved in the creation, funding and development of high-growth digital technology businesses, announced its maiden Interim Results for the six months ended 30 September 2016. Profit after tax of £26.1m. Gross primary portfolio value increased by 36% to £106.9m (£78.7m at IPO). Net Assets including goodwill, increased by 11% to £143.3m (£128.7m at IPO). NAV per share of 352p. Successfully completed final close of EIS 5 co-investment fund, having raised £11m and launch of EIS 6.
Blue Star Capital (BLU.L) 0.16p £0.8m
The investing company in technology and gaming, announced its final results for the year ended 30 September 2016. Loss for the period of £165,005 (2015: loss of £106,370). Net assets of £1,757,165 (2015: £1,877,170) following sale of Vigilant Applications Limited for £220,000. Net asset value per share at 30 September 2016 of 0.35p (2014: 0.40p). Cash Position at 30 September 2016 of £51,184 (2014: £27,473).
Trakm8 Hldgs (TRAK.L) 185p £60.06m
The telematics and data insight provider to the global market place, has been awarded a contract by Smart Driver Club (SDC), the innovative UK vehicle services company, to supply devices and data services for the launch of its Smartbubble service solution. SDC expects to have a requirement for a substantial number of devices in the first 18 months of the contract with a launch order of 6,000 devices to be delivered in Trakm8’s current financial year. Fy Mar17E revs of £34m and EPS of 15.7p. 2.1p divi.
Kodal Minerals (KOD.L) 0.08p £3.5m
The mineral exploration and development company focussed on West Africa, has announced further acquisitions of prospective lithium projects in southern Mali. These acquisitions are in line with Kodal’s strategy to identify value accretive strategic mineral opportunities in West Africa and further advances the Company’s growing exposure to the rapidly developing lithium extraction and development industry. 90% acquisition of 109 sq km project. Total consideration $65k. Extensive evidence of Pegmatite mineralisation anomalous with lithium.
Imperial Innovations (IVO.L) 477p £564m
Portfolio company TopiVert Pharma Ltd has announced that its Investigational New Drug application for the evaluation of TOP1630 ophthalmic solution as a treatment of patients with dry eye syndrome (DES) has been approved by the FDA. Approval of this IND will allow TOP1630 to enter the clinic in the US in a Phase I/IIa proof-of-concept study in DES. TOP1630 will be TopiVert’s 2nd compound to enter the clinic, following TOP1288, which has successfully completed Phase I evaluation and last month started a Phase IIa proof-of-concept study in patients with ulcerative colitis.
Tissue Regenix Group (TRX.L) 16.12p £122.57m
The regenerative medical devices company provided an update on OrthoPure™ XT (porcine tendon). The early clinical data provided to support the CE mark application has shown results highlighting the clinical relevance of the product, with the outcomes at 6 months post-operation showing a statistically significant improvement when compared to the current gold standard treatment which uses the patients’ hamstring tendons or patellar tendon (autograft). Launch remains on track for H1 2017, with CE mark approval expected in the same period.
Akers Biosciences (AKR.L) 185p £10.1m
The developer of rapid health information technologies, has completed a clinical trial for BreathScan® DKA, the first single-use, non-invasive breath test to rapidly screen for diabetic ketoacidosis, a potentially life-threatening complication of diabetes caused by a lack of insulin in the body. The results were highly successful, with sensitivity (a true positive result) of 91% and specificity (a true negative result) of 93%. The overall agreement between the BreathScan® DKAtest and the gold standard hospital blood test was 92%. Akers Bio is pursuing FDA 510(k) market clearance in the US and the current study fulfils a requirement of this clearance.
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