Small Cap Feast

Small Cap Feast – 5th August 2016

Dish of the Day:

Franchise Brands IPO  (FRAN.L). Placing and subscription of 10.6m shares at 33p. Seeks complementary acquisitions.

Off the Menu:

RAME Energy (RAME.L) has been unable to complete a £2.8m fundraise. Administrators appointed. Remains suspended. Seeks to remain going concern.

What’s Cooking in the IPO Kitchen?

Forte Energy NL – To join AIM Late August. No fund raise. Anticipated £4m market cap. Forte Energy NL is undertaking a reverse takeover of BOS Global Limited,  a FinTech company headquartered and with its main operations in Australia .

The Intertain Group Ltd – World’s largest online bingo-led operator (on TSX) intends to join Official List

Autins Group plc – The acoustic and thermal insulation specialist  looks to join AIM early August


Breakfast Buffet

Audioboom (BOOM.L) 2.62p £14.1m

Strategic update from the spoken‐word audio platform for hosting, distributing and monetising content. In discussions for funding up to $8m at not less than 2.5p from Chinese fund. Currently considering acquisition of SONR News primarily to obtain engineering team and Neuro-Linguistic Programming and AI algorithms.  


Cloudcall (CALL.L) 55.5p £7.5m

£2.1m placing at 57.5p,  a premium of 3.6%  to yesterday’s close. Transaction is expected to facilitate a rapid expansion of CloudCall’s sales function, particularly in the US, in line with the Company’s strategy to increase its capacity to focus on a key channel partner, Bullhorn, which could have a transformational impact on the business.


Porta Communications (PTCM.L) 5p £14m

The international marketing and communications group,   has acquired a further 15% of Redleaf Polhill for £805k half in cash and half in shares. Now has 66% stake. Remaining 34% remains subject to two further put and call options  exercisable after FY2016 and FY2017 results respectively.


Symphony Environmental Technologies (SYM.L) 4.25p £6.4m

The specialists in ‘making plastic smarter’ have announced the publication of another, but very important, report confirming that d2w oxo-biodegradable (controlled-life) plastics have no material effect on the recycling process or on the recycled plastic products.


Blue Prism Group (PRSM.L) 149p £92.7m

The Robotic Process Automation  Company has updated on trading. Contract renewals and the continued momentum in new business wins in the year to date, mean that, subsequent to the outlook detailed in the Group’s interim results, the Board is confident that Blue Prism will outperform the Board’s current expectations for the full year.


Benchmark Holdings  (BMK.L) 58.5p £277m

The international biotechnology and food chain sustainability business has announced a £30.7m placing at 65p, a premium of circa 11.1% to yesterday’s close. Provides funds for a number of JV and capital investments, the most material being a JV  to build new a production unit in Norway for the year-round supply of salmon eggs


Beximco Pharma (BXP.L) 35p £27.2m

The manufacturer of generic pharmaceutical products and active pharmaceutical ingredients announced it has commenced the export of Carvedilol, a prescription drug for treating hypertension, to the US. Beximco Pharma became the first Bangladeshi pharmaceutical company audited and approved by the US FDA in June 2015.


Sterling Energy (SEY.L) 15.25p £33.56m

The oil and gas exploration company will be  surrendering its Ntem concession in off shore Cameroon.  The company’s focus remains on securing transformative, exploitation led M&A opportunities.


AFC Energy (20.75.L) p £64.2m

The industrial fuel cell power company  has announced a joint development agreement  with Italy’s Industrie De Nora.  The collaboration is targeting technological enhancements to AFC Energy’s fuel cell system and to further accelerate commercialisation of AFC Energy’s technology platform.


PHSC (PHSC.L) 23p £3m

FYMar16 prelims from the provider of health, safety, hygiene and environmental consultancy services and security solutions to the public and private sectors.  Revenue fell to £7.0m from £7.7m.  Underlying EBITDA fell to £0.368m from £0.818m. Final dividend held at 1.5p. Trading remains difficult. Security division has healthy negotiation pipe.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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