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Small Cap Feast – 18 September 2020
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What’s Cooking in the IPO Kitchen?
Guild Esports a UK-based owner and developer of esports teams, has announced its intention to seek a listing of its ordinary shares to the Standard Listing segment of the London Stock Exchange this autumn. its founding shareholders include David Beckham, former football player and captain of England, and now co-owner of new MLS team Inter Miami CF.
HOME REIT intends to float to the Main Market raising up to £250m. The Company will seek to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the homeless. Due Mid October
Sativa Wellness Group—(Canadian Securities Exchange: STIL) renamed from Stillcanna Inc following the conditional acquisition of Sativa Group (AQSE:SATI) to list on the AQUIS Exchange. A fully integrated European seed to consumer CBD group with the pricing, products, and stability to meet the CBD market demand in the medium term. With world-class extraction and formulation experts, an agricultural team that has over 20 years’ experience farming hemp, along with laboratory testing capabilities, the group has established itself globally as a trusted source of high-grade, premium wholesale CBD brands and products.
Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List
Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.
U&I Group 59.9p £75.1m (UAI.L)
The specialist regeneration developer and investor, announces that Yoo Capital Investment Management has acquired a majority ownership interest in Shepherd’s Bush Market for its Yoo Capital Fund II, L.P. (YCFII), forming a joint venture partnership with U+I.
Yoo Capital is a privately held real estate investment firm, with over £2 billion assets under management. The new joint venture structure will bring forward the regeneration of Shepherd’s Bush Market in West London and the adjoining land for mixed-use development, with Yoo Capital owning 75.5% and U+I 24.5% of the new partnership. The scheme will realise future development management fees for U+I, as well as a potential share of development profits in the next five years. The transaction also involved a reduction in U+I joint venture debt secured against the project, resulting in the Company’s look through gearing reducing by circa 8.5% (from 68% to circa 59%).
APQ Global 17.5p £13.7m (APQ.L)
The Company announced that as at the close of business on 31 August 2020, the unaudited book value per Ordinary Share was 29.71 US Dollar cents, equivalent to 22.19 Pounds Sterling pence. APQ Global is a global emerging markets income company with interests across Asia, Latin America, Eastern Europe, the Middle East and Africa. The Company’s objective is to steadily grow earnings to deliver attractive returns and capital growth to shareholders.
Crimson Tide 3.75p £17.16m (TIDE.L)
The provider of the mpro5 solution is pleased to announce its unaudited interim results for the six months ended 30 June 2020.
- Turnover increase of 40% to £1.77m (H1 2019: £1.27m) · Sales of £225k and COGS of £127k recognised due to IFRS 15
- Profit before tax increased by 154% to £257k (H1 2019: £101k) · EBITDA increase of 72% to £470k (H1 2019: £274k) · Strong improvement in net cash position
- Strategic focus on transportation and supermarkets / convenience stores succeeding
- New long term contract with large neighbourhood retailer adding to revenue visibility in H2 and beyond
- Increasing quality of retained client book. · Partnerships improving routes to market and scalability shortening new business sales cycle. · Growing traction from investments in innovation
Polarean Imaging 48p £77.68m (POLX.L)
The medical-imaging technology company, with a proprietary investigational drug-device combination diagnostic for magnetic resonance imaging (MRI), announces that it has completed the installation of its latest research unit order for a 9820 Xenon Polariser system at the University of Kansas Medical Center (“KU Medical Center”) http://www.kumc.edu/.
KU Medical Center is a major research and teaching hospital and this polariser will form the cornerstone of a new hyperpolarised 129Xe imaging research programme. Following this installation, the total number of the Company’s polarisers installed is 23.
SpaceandPeople 5.5p £1.1m (SAL.L)
The retail, promotional and brand experience specialist which facilitates the sale of space in high footfall venues, announces that as part of its ongoing succession planning process, Chief Executive Officer, Matthew Bending, will today retire from the Board and step down from his role as Chief Executive Officer.
Having led SpaceandPeople since co-founding it in 2000, Matthew has decided to concentrate on other opportunities. The Board has appointed Nancy Cullen to succeed Matthew Bending as Chief Executive Officer of the Group. Nancy Cullen, who co-founded SpaceandPeople with Matthew Bending, was previously Chief Operating Officer.
Thruvision 27.8p £40.44m (THRU.L)
The specialist provider of people-screening technology to the international security market, announced a strategically important contract award by the US Government’s Customs and Border Protection (CBP) for further units and associated support services totalling $4.9 million, of which $4.3 million is expected to be delivered in FY21. This latest award, in line with the Company’s expectations, is a follow-on order by CBP to that of $3.0 million made in 2019.
Mercia Asset Management 19p £83.6m (MERC.L)
The proactive, regionally focused, specialist asset manager, provided an update on the Life Sciences investments within both its balance sheet and managed funds’ portfolios. Life Sciences investments accounted for seven out of the top 20 direct investments as at 31 March 2020 and their cumulative fair value of £28.6million represented 32.7% of the total portfolio by value.
Oxford Genetics Ltd (“OXGENE”) – Third consecutive year of 100%+ revenue growth
Medherant Ltd (“Medherant”) – Novel transdermal drug delivery In May 2020 the company announced that it had signed an agreement to develop and commercialise multiple products using the TEPI Patch®technology for the global commercial-stage pharmaceutical company Cycle Pharmaceuticals Ltd
Locate Bio Ltd (“Locate”) – Appointment of CEO and funding
MIP Diagnostics Ltd (“MIP”) – £5.1million syndicated funding round in July 2020 to accelerate global expansion.
The Native Antigen Company Ltd (“NAC”) – Evidence of Mercia’s model in action
- Sale announced in July 2020, achieving an 8.4x return on original direct investment cost
Mercia also presented a selection of promising businesses within Mercia’s third-party managed funds, which represent potential future candidates for Mercia’s direct investment portfolio.
SEC Newgate 57.5p £13.94m (SECG.L)
The international communications, advocacy and research group, is pleased to announce the appointment of James Hill as Newgate Communications Managing Partner in Greater China, based in Hong Kong, effective from 22 September 2020. James will oversee the firm’s expansion in Greater China and work with colleagues in the Asia-Pacific region to expand the firm’s pan-regional client base.
Prior to joining Newgate, James was General Manager of Sandpiper Communications (formerly MHP Communications Asia) in Hong Kong and, before that, Partner of Finsbury Asia. Before moving to Hong Kong, James held agency and in-house roles in London, including Head of Financial Public Relations at a FTSE 100 telecommunications company.
Fiorenzo Tagliabue, CEO of SEC Newgate, commented: “I welcome James on board and am confident the Chinese operations and the Group at large will gain significant benefit from his 20-year career, deep understanding of the Chinese markets and extensive network of relations within Asian business communities”.
Braveheart Investment Group 21.5p £7.5m (BRH.L)
Braveheart announced that Pharm 2 Farm Limited (“P2F”) has placed an order for an automated face mask production line which is expected to be delivered in November 2020 and commissioned by the end of December 2020.
The face mask production line, which is manufactured in Europe, has the capacity to produce up to five million standard or anti-viral face masks per month.
Conventional surgical type masks typically comprise of three layers, with the inner layer acting as a physical barrier to viruses and bacteria. However, they are only recommended for up to two hours of continual use as this layer can become moist and fail, thereby allowing the virus to penetrate though. P2F has developed a second defensive layer that incorporates its own nanotechnology, which is engineered to kill viruses and bacteria. Combining this new active layer with the physical barrier layer, to produce four layer (ply) masks, is expected to improve user safety over a prolonged use. This new material is currently undergoing testing, specifically, with respect to the time taken to kill viruses, including COVID-19. These tests are, being undertaken at the University of Nottingham and results are expected by the beginning of October. Following a satisfactory outcome of the tests undertaken at the University of Nottingham, it is envisaged that manufacture of the anti-viral face masks will commence in the first quarter of 2021. In the event that these tests do not provide a satisfactory outcome, the production line will be used to produce conventional surgical type masks, which P2F believe could still be produced on a profitable basis.
GYG 75.5p £35.2m (GYG.L)
The market leading superyacht painting, supply and maintenance company announced the signing of a Letter of Intent for a 100+ metre New Build yacht in Europe, scheduled to start in Q2 2021. This major project further develops the Group’s strategic focus on building relationships directly with the leading New Build yards. This strategy has delivered continued success and GYG will be working on a record number of New Build contracts in 2021.
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