Small Cap Feast

Small Cap Feast – 5th August 2022

Dish of the Day:

Inteliqo Limited has joined the Access Segment of AQSE Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners.

Off the Menu:

Menzies (John) plc and Sanne Group have left the Premium Segment of the Main Market.

What’s Cooking in the IPO Kitchen?

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

Active Energy Group 6.1p £9.9m (AEG.L)

The international biomass based renewable energy business, announces that trading of its ordinary shares will begin today on the OTCQB Venture Market in the United States, under the ticker symbol “ATGVF”. Trading on the OTCQB will have no direct impact on the trading of its ordinary shares on AIM and no new ordinary shares will be issued as part of the cross-trade. The company will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or SEC reporting requirements.

AMTE Power 81.5p £28.7m (AMTE.L)

The manufacturer of battery cells for specialist markets, has signed a memorandum of understanding (MoU) with the automotive engineering company Cosworth to support the development of next-generation electric vehicles. The non-binding MoU paves the way for AMTE Power to supply its Ultra High Power lithium-ion cells for use in Cosworth’s advanced propulsion technologies. AMTE Power is currently going through scale-up and testing trials at the UK Battery Industrial Centre.

AssetCo 750p £112.0m (ASTO.L)

The agile asset and wealth manager announced that it had reached agreement to acquire the entire issued share capital of Revera Asset Management Limited (Revera) for an effective total consideration of £2.8m to be satisfied by the issue of 54,639 new ordinary shares of 10p each and £1.9m in cash. The FCA CiC Approval has been obtained and the acquisition was duly completed on 5 August 2022.

Begbies Traynor 141.2p £220.4m (BEG.L)

The business recovery, financial advisory and property services consultancy, publishes its latest “Red Flag Alert” report, which has provided a snapshot of British corporate health for the past 15 years. The report reveals the continued financial strain on thousands of British businesses, with the number of businesses in critical financial distress up by 37% in Q2 22 compared to Q2 21. Sectors most exposed to inflation are discretionary consumer spending: bars, restaurants and general retailers.

Chaarat Gold Holdings 11.5p £81.9m (CGH.L)

The gold mining company with an operating mine in Armenia and assets in the Kyrgyz Republic, announces its production and operational results for the half year ended 30 June 2022 regarding its Kapan Mine in Armenia. The production was 30,562 gold equivalent ounces, down 8.1% year-over-year. Full-year guidance of 56-62koz of total own-ore and third-party ore production remains unchanged for 2022.

Frontier IP Group 68.0p £37.4m (FIPP.L)

The specialist in commercialising intellectual property, announces that portfolio company CamGraPhIC has raised £1.26m through an equity funding round to develop and scale up its graphene-based photonics technology for high-speed data and telecommunications transmission. In addition, Sir Michael Rake, the former chair of BT Group plc, is an investor in CamGraPhIC and will be joining its board of directors by the end of the year. He is currently advising the Company on an informal basis.

Kromek Group 12.3p £52.9m (KMK.L)

The developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that it has completed a fundraising of £1.7m through the issue of convertible loan notes to existing and new investors. The proceeds will be used to provide additional working capital to minimise any potential supply chain disruption during the year.

Light Science Technologies 7.5p £13.1m (LST.L)

The controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group, announces results for the six months ended 31 May 2022. Revenue went up by 4.2% to £3.6m (H1 2021: £3.4m). Margin reduced slightly to 20.9% (H1 2021: 23.6%). Loss before tax was £1.3m (H1 2021: loss £0.9m), primarily due to the CEA division’s continued investment in R&D and marketing. The group has seen an increase in the demand for reshoring manufacturing to the UK.

Inspired 12.3p £119.9m (INSE.L)

The technology enabled service provider supporting businesses in the drive to net zero, provides a trading update for the six-month period ended 30 June 2022. The company continued to make progress against its planned strategy, with strong trading and a continued improvement in underlying cash generation from FY2021. The Board expects to announce results in line with its expectations.

Intuitive Investments Group 11.8p £8.5m (IIG.L)

The closed-end life sciences investment company which owns the entirety of Sanondaf, a specialist disinfection and hygiene services business, has invested a further £100k into existing portfolio company PneumoWave, formerly known as Altair Medical. This equity investment is a bridge, by way of advance subscription agreement, to a Series A round of circa £7.5m, which PneumoWave is looking to close in October 2022. Intuitive Investments Group has previously invested £350k in PneumoWave, representing a 6.55% interest.

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