Small Cap Feast

Small Cap Feast – 31st October 2016

Dish of the Day:

Standard List admission  today for Golden  Rock Global (GCG.L). £1.6m raise . Seeking fintech acquisitions

Off the Menu:

No AIM Leavers Today

What’s Cooking in the IPO Kitchen?

FreeAgent—FT reports the provider of accounting software to small businesses is intending to announce its intention to float today looking to raise £8m

Ascot Lloyd –City A.M. reports the wealth manager has postponed its IPO after failing to find sufficient investor support

Filta— AIM Schedule One update  from  the provider of a number of services to national and independent commercial kitchen operators and owners.   Targets 4 November listing. Seeking £4.3m new equity plus £1.9m shareholder sale

Breakfast Buffet

Hutchison China Medi (HCM.L) 1,875p £1.1bn

The innovative biopharmaceutical company which researches, develops, manufactures and sells pharmaceuticals and healthcare products, announced that Shanghai Hutchison Pharmaceuticals Limited, its 50:50 Prescription Drug joint venture with a subsidiary of Shanghai Pharmaceuticals Holding Co., Limited, has today received US$59.5 million from the Shanghai government under the terms of their December 2015 land compensation agreement.

Petards Group* (PEG.L) 18.25p £6.45m

The AIM quoted software developer of advanced security and surveillance systems, has secured an additional framework contract and two “Call Off” contracts with Hitachi Rail Europe Limited for Petards to supply Automatic Passenger Counting Systems.  The new “Call Off” contracts are for the East Coast Main Line as part of the Intercity Express Programme and the Great Western Railway West of England service, the value of which are in excess of 1.2m and will be supplied over the next 3 years.

Milestone Group* (MSG.L) 1.27p £11.17m

The provider of digital media and technology solutions announced that a contract has been signed with its subsidiary, Nexstar and a UK based entertainment industry payroll specialist.  Nexstar, using its status as an Independent Sales Organisation will provide an innovative payroll payment solution which will include providing white labelled pre-paid cards to issue to its clients. This will be commissioned in the next few weeks and then be immediately earnings enhancing.

Limitless Earth (LME.L) 3.38p £2.21m

HY Jul 16 results from proactive investing company that focuses on making investments in and assisting companies that show the potential to generate returns through capital appreciation. Loss of £65k and NAV of £2.5m. During the period, the Company invested US$300,000, in Exogenesis Corporation, a private nanotechnology company. All other current investments are progressing in line with management expectations.  E.g., Chronix Biomedical is expected to start the listing process onto a regulated exchange in the coming months.

Range Resources (RRL.L) 0.35p £28.86m

The exploration and production company focused on growth through acquisition of transformational new projects, whilst continuing production and reserves growth in Trinidad has issued a $20m 8% loan note convertible at 0.88p to LandOcean Energy Services to replace a portion of the outstanding payable balance due to LandOcean under the terms of the Integrated Master Services Agreement. LandOcean is acting as the preferred oilfield services contractor to Range in Trinidad.

European Metals Holdings (EMH.L) 39.13p £48.48m

Update from the developer of the  100% owned globally significant Cinovec Lithium/Tin Project in Czech Republic. Significant capital savings identified in scoping study.  USD 38m saving on mining CAPEX costs. USD 47m saving on lithium plant costs. Drilling highlights include: Drillhole PSn13 returned main mineralised intercept of 167.1m averaging 0.36 % Li2O. Included high-grade intervals of 12m averaging 0.77 % Li2O and 7m averaging 0.87 % Li2O, as well as a tin-enriched interval of 8m averaging 0.16 % Sn. Ended Sep with A$1.9m cash.

Stellar Diamonds (STEL.L) 6p £1.91m

Competent Persons Report on Tonguma and Tongo Project in Sierra Leone confirming the Project’s initial inferred recoverable resource of 4.0 million carats (+1.18mm) and endorsing the mine plan for the Project.   On 5 October 2016 the Company announced the results of the independent preliminary economic assessment for the Project demonstrating an estimated pre-tax Project NPV(10) and IRR of $172 million and 49% respectively.  Shares remain suspended whilst Tonguma project acquisition is still pending.

Plant Impact (PIM.L) 49.5p £40.39m

FYJul16 results from the specialist in research and development in crop enhancement products that growers can rely on to improve the yield and quality of their crops. Revenue up 60% to £7.2m. Gross profit up 59% to £5.6m.  Net loss of £0.7m vs £0.1m profit. Cash at 31 July 2016 was £5.6m from£7.6m; reflecting continued investment in R&D & geographic expansion.  On Veritas®, PIM is transitioning commercial focus from gaining trial use with progressive growers to establishing product as an essential input across the grower’s entire farm production.

 

Proteome Sciences (PRM.L) 8.78p £20.14m

The specialist in applied proteomics offering high sensitivity, proprietary technologies and workflows for mapping cell signalling pathways and for the discovery, validation and assay development of protein biomarkers has raised £3.3m in a placing and subscription priced at 5p. Proceeds to be used to accelerate evolution into a premium contract, service-based biomarker business, underpinned with a bioinformatics capability and ensuring that the Company has the capacity to meet Thermo Fisher Scientific’s further demand for its TMT reagents.

Premier African Minerals (PREM.L) 0.37p £7.4m

The multi-commodity mining and natural resource development company focused on Southern and Western Africa, has completed the acquisition of a 52% interest in Mozambique-based TCT Industrias Florestais Limitada (TCT IF), which owns a substantial limestone deposit located on rail in Mozambique. TCT IF is the holder of the exploration licence together with significant forestry operations.  TCT IF is self-sustaining and will contribute positively to group cash flows in 2017.

Head Chef:

Emily Liu, CFA, CAIA
0203 764 2344
emily.liu@hybridan.com

Sous Chef:

Sacha Morris
0203 764 2345
sacha.morris@hybridan.com

*A corporate client of Hybridan LLP

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