Small Cap Feast

Small Cap Feast – 3rd August 2022

Dish of the Day:

No joiners today.

Off the Menu:

No leavers today.

What’s Cooking in the IPO Kitchen?

Inteliqo Limited, intends to join the Aquis Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners under long-term distribution agreements. The Company has agreed its first such agreement in respect of the Ipedia iQ product range. The iQ product is a smart translation earphone (earbuds) system which offers integrated real time speech translation in 42 languages, built in smart assist (google and siri), multiple built-in microphones and high-definition sound. Expected 5 August.
Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports to over 40 countries and is a key supplier to almost every leading fibre optic cable manufacturer worldwide and is the industry’s only organisation with multiple manufacturing facilities spread across 3 continents. The Company acts as the holding company for its wholly-owned operating subsidiary, Unitape Limited and its 60% owned operating subsidiary, Unigel (UK) Limited. Delayed, timing TBC.
Georgina Energy, an early-stage resource company with a strategy of actively pursuing the exploration, commercial development and monetisation of helium, hydrogen and hydrocarbon interests located in the Amadeus and Officer Basins in Northern and Western Australia intends to join AIM. Georgina Energy has two principal onshore interests. The first, the Mount Winter Prospect is located in the Amadeus Basin in Northern Australia, which the Company has a right to earn an initial 75% interest. The second interest, the Hussar Prospect is 100% owned by the Company and is located in the Officer Basin in Western Australia. Expected late September.

Breakfast Buffet

Alpha Real Trust Limited 151p £86.0m (ARTL.L)

The real estate investor and developer announces it has acquired a hotel in Wadebridge, Cornwall, United Kingdom for £4.25m for cash. The property is leased to Travelodge Hotels Limited, the UK’s largest independent hotel brand with more than 590 hotels. The hotel has a 20 year unexpired lease term. Under the lease, the tenant is responsible for building maintenance and the passing rent of £0.25m p.a. has inflation linked adjustments, reflecting a yield of 6.1% p.a.

Advanced Oncotherapy 22.8p £112.6m (AVO.L)

The developer of LIGHT, the next-generation proton therapy system for cancer treatment, announces an equity fundraise of £550,691 before expenses. The fundraise has been conducted through a subscription for a total of 2,202,762 new ordinary shares at a price of 25p per share, at a 11% premium to the middle closing price on 2 August 2022. This subscription has been undertaken to accommodate demand from investors who were unable to participate in the c.£6m fundraise announced on 28 June 2022.

Iomart Group 173p £190.2m (IOM.L)

The cloud computing company announces that it has agreed to acquire the entire issued share capital of Concepta Capital Limited, a holding company of a group of companies which includes the ORIIUM and Pavilion IT brands, for an initial cash consideration of £10.5m. ORIIUM is a channel only IT service provider specialising in data management solutions, and Pavilion IT is a provider of cloud and hybrid infrastructure solutions and support services.

Omega Diagnostics Group 3.4p £8.0m (ODX.L)

The specialist medical diagnostics company focused on health & nutrition products, confirms the completion of its disposal of its loss-making CD4 business to Accubio Limited, a wholly-owned subsidiary of Zhejiang Orient Gene Biotech for an aggregate cash consideration of up to £6.1m, before costs. Accubio acquired the Company’s Alva manufacturing site on 7 March 2022 and has been providing manufacturing services to Omega for its CD4 business since that date.

Oracle Power 0.33p £9.4m (ORCP.L)

The international natural resources project developer announces its receipt of a letter from the Directorate of Alternative Energy of the Government of Sindh confirming that it will issue a Letter of Intent to Oracle regarding the establishment of a 1,200MW hybrid solar/wind, green hydrogen/power project in Pakistan. This is a project under development by the Company’s joint venture company, Oracle Energy Limited subject to the provision of a US$600k performance guarantee by Oracle Energy.

Premier African Minerals 0.29p £63.9m (PREM.L)

The metals and mineral projects developer announces that it has concluded the definitive transaction documents in respect of the Marketing and Pre-Payment Agreement as announced on 24 June 2022 and a prepayment of approximately US$18.1m received to date. This payment will be utilised for the Zulu plant fabricators and site contractors. Fabrication and site construction is underway, with commercial production expected in Q1 of 2023.

Proteome Sciences 3.9p £11.4m (PRM.L)

The provider of contract proteomics services to enable drug discovery, development and biomarker identification, announces its completion of the next milestone towards the launch of Single Cell Proteomics services, i.e. SysQuant® SCP, with the installation of a cellenONE® (Cellenion, France) platform that allows the semi-automated preparation of up to 2,700 cells per week. This complements the expansion of the Company’s mass spectrometer platforms late last year and will establish Proteome Sciences as the premier provider of single cell proteomics.

Shanta Gold 10p £104.8m (SHG.L)

The East Africa-focused gold producer, developer and explorer, provides an exploration update for its West Kenya Project. This update relates to 10,082 metres of drilling across 35 holes conducted in 1H22 at the Isulu and Bushiangala deposits. Visible gold was identified in 15 intersections across 35 holes drilled. Shanta has now completed 65% of total planned drilling at West Kenya as of July 2022.

Touchstone Exploration 62.5p £138.1m (TXP.L)

The Alberta Canada based company engaged in the acquisition of interests in petroleum and natural gas rights, announces that it has summitted a notice to community residents that the Coho gas facility and pipeline will commence pre-commissioning and commissioning operations. The Coho area is located in the Ortoire block, where Touchstone has an 80% operating working interest and Heritage Petroleum Company Limited holds the remaining 20% working interest.

Van Elle Holdings 47p £50.1m (VANL.L)

A UK ground engineering contractor announces its results for the year ended 30 April 2022 (FY22): revenue up by 48% to £124.9m and adjusted EBITDA up by 2.3x to £9.8m. Basic EPS was 1.7p (loss of 1.3p in FY21). Trading momentum in FY22 has continued into FY23 with all divisions operating at high activity levels. Further progress is expected in achieving the company’s medium-term financial targets.

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