Small Cap Feast

Small Cap Feast – 4th November 2016

Dish of the Day:

Filta Group Holdings (FLTA.L) has arrived on AIM.  Its principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum based cleaning of deep fryers and full Fryer Management. £6.3m raised at 83p including £1.9m to selling shareholder

Off the Menu:

No AIM Leavers Today

What’s Cooking in the IPO Kitchen?

FreeAgent—Schedule one now out from the provider of accounting software to small businesses. Date and quantum of raise still to be disclosed.

Civitas Social Housing –Intention to float on Main Market from the first REIT to be listed on the London Stock Exchange offering pure play exposure to social housing

 

Breakfast Buffet

Angle (AGL.L) 58.5p £43.77m

The specialist medtech company, has welcomed new research presented during the National Cancer Research Institute  annual conference, 6-9 November 2016, which supports the potential use of the Company’s Parsortix cell separation technology. This research details the use of Parsortix as part of a simple blood test, to diagnose and monitor patients with prostate cancer. Using Parsortix, scientists at the Barts Cancer Institute at Queen Mary University were able to capture a very specific subset of circulating tumour cells from prostate cancer patient blood samples

 

Forbidden Technologies(FBT.L) 11p £16.55m

The cloud video platform owner, announces that Forscene has been chosen for use by Royal Holloway University of London’s ADAPT, a European Research Council-funded project researching the history of television production technology. Using a combination of archived content and facility reconstructions, ADAPT will piece together the threads of the complex story of British broadcast production technologies since the 1960’s until the present day.  The project will run until 2018 and will contribute to the Company’s invoiced sales for 2016.

 

Marlowe (MRL.L) 297.5p £81.71m

The support services group focused on acquiring and developing companies that provide critical asset maintenance services, has acquired Titan Fire and Security, a provider of fire protection services based in Uxbridge, Greater London. Titan is being purchased for a consideration of up to £750k comprising an initial cash consideration of £450k and two contingent earn-out payments of up to £150k, subject to certain performance targets. Marlowe is acquiring approximately £1.4m of Titan’s recurring customer revenues. FYMar17E rev £41.2m. PBT £2.6m.

 

PCG Entertainment (PCGE.L) 0.32p £4.24m

The Asia-Pacific media and entertainment company,  has signed a MOU with Shenzhen Tianrong Sports Culture Management Co. Ltd.  for the creation of a major football academy in China.  Tianrong is a division of the Shenzhen Tianrong Investment Group, a company involved in sporting and cultural activities and the promotion of Chinese sports, tourism, culture and entertainment. PCGE and Tianrong will partner to create a new football academy in China. This is intended to involve a joint venture with a western football club.

 

Berkeley Energia (BKY.L) 45.5p £91.3m

BKY has announced a proposed fundraising in order to accelerate the development of the Salamanca project in Spain, including construction of the crushing circuit and other infrastructure items. The  price is 45p to raise between US$25.0m to US$30.0m (£16.1m to £24.1 m). A 1.1% discount to yesterdays close. The placing is being conducted by way of an accelerated bookbuild. “The funds raised will be used to bring forward the construction of the crushing circuit and other facilities associated with the main construction to early next year.”

 

Faroe Petroleum (FPM.L) 78p £284.3m

The independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announced that the partners in the Pil & Bue discoveries (licence PL586) have decided that a subsea development solution tied back to the Njord (Faroe 7.5%) platform in the Norwegian Sea is the preferred concept for development of the Pil & Bue discoveries (Faroe 25%). The facility is undergoing extensive modifications in order to increase materially its operating life & accommodate new developments.

 

ITM Power (ITM.L) 23.5p £50.97m

The energy storage and clean fuel company has signed a fuel contract, selling hydrogen at £10/kg, with Hyundai Motor UK, for refuelling its iX35 Fuel Cell Vehicle fleet. The contract covers fuel dispensed across ITM Power’s hydrogen refuelling network. Hyundai joins Toyota, Commercial Group, Arcola Energy and Arval as customers. ITM Power currently has £16.85m of projects under contract and a further £4.15m of contracts in the final stages of negotiation.  FYApr17E revs £3.7m and £3.38m pre-tax loss.

 

Deltex Medical Group (DEMG.L) 4.13p £11.75m

The global leader in Oesophageal Doppler Monitoring (ODM), announced its most substantial account win in a UK NHS hospital for more than two years. A 450 bed NHS hospital in the South-East of England has acquired six CardioQ-ODM+ monitors and an initial stock of single patient oesophageal probes for use in its peri-operative surgical care., replacing competing technology  The initial order was worth over £30k and although this does not alter full year forecasts, it does reflect a generally improving UK performance in the H2.

 

Best of the Best (BOTB.L) 212.5p £21.51m

The operator of competitions to win luxury cars online and at retail locations, announced that trading for the six months ended 31 October 2016 has been strong with profits before tax generated ahead of management expectations. Revenues in line with management expectations and proportion of online sales continues to increase. Operating margins have improved and marketing investment in customer acquisition during the period was slightly lower than originally anticipated. FYAPR17E revs of £11.2m, PBT of 1.2.m. 23.4x PE. 0.7% yield.

 

Windar Photonics (WPHO.L) 85p £33.8m

The technology group that has developed a cost efficient and innovative LIDAR wind sensor for use on electricity generating wind turbines has received a repeat order for its WindEYE™ LiDAR wind sensors from a large North American wind farm owner and operator for immediate delivery. The five units are expected to be installed on Suzlon S88 2.1 MW wind turbines in the US, where the next step will be to integrate all delivered units directly with the wind turbines’ control systems. FYDec16E rev £2.17m,.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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