Small Cap Feast


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Dish Of The Day:
Quantum Exponential to join AQSE. The Company intends to identify investment opportunities in the quantum technology sector. The Company has identified over 175 start-ups which potentially meet their investment strategy with a focus on seed funding for start-ups with second stage funding plans in preparation. Due 1st Nov.
Off The Menu:
No leavers today.

What’s Cooking In The IPO Kitchen?

Ashtead Tech, subsea equipment rental and solutions provider for the global offshore energy sector to join AIM. The Directors have a high degree of confidence in the Group achieving no less than £52m of revenue, £21.5m of Adjusted EBITDA and £12.8m of Adjusted EBITA for FY21 Due late Nov. Offer TBA.

Atrato Onsite Energy, a new closed-ended investment company established to invest in a diversified portfolio of onsite renewable energy assets to join the Main Market (Premium). Targeting a £150m raise. Due by end Nov.

Foresight Sustainable Forestry Company to join the Main Market (Premium), an externally managed investment company that will invest in UK forestry and afforestation assets. Raising up to £200m. Due 24 Nov.

Travel Chapter Holdings to join AIM. Travel Chapter operates a leading online platform in the structurally growing UK holiday rental market, connecting a supplier base of property owners with their customers and providing a market leading service proposition to both. Offer TBA. Due mid Nov.

Gensource Potash Corp to join AIM. Gensource is a TSX-V listed fertilizer development company located in Saskatchewan, Canada, focused on a sustainable and modular approach to potash production. The Company currently holds 100% interest in KL 244 and KL 245, the subsurface mineral leases comprising the Vanguard Area (296.43 km2). The Company also holds mineral leases in its Lazlo Area (24.93km2) in the south of Saskatchewan. Due early Nov. No funds being raised.

ATOME headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas company which has incubated and financially supported ATOME to date, by way of a dividend in specie and flotation.

Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie ‘Publisher of the Year 2021’ by Offer TBA. Due early Nov.

Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties. Due mid Nov.

Alinda Capital Infrastructure Investments to join the Specialist Fund Segment of the Main Market of the London Stock Exchange raising up to £350m. Due Late November.

Nu-Oil and Gas to acquire Guardian Maritime Ltd and Guardian Barriers IP Ltd and become Guardian Global Security plc and join the Main Market (Standard). Guardian is a technology group that supplies products to prevent unauthorised entry into areas that are deemed to have value, with maritime security being the main focus initially. Q4 2021.

ProCook, the UK’s leading direct-to-consumer specialist kitchenware brand, is considering applying for admission of the Shares to the Main Market (Premium). ProCook’s revenue grew by 37% to £53.4m in FY21 (ending 4 April 2021), with Adjusted EBITDA growing by 246% to £13.3m in the same period. Due in November.

Silverwood Brands, an investing company established to identify investment opportunities including, but not limited to, in the foods, organic food, wellness, lifestyle and leisure sectors, targeting admission on the to join the AQSE Growth (Access). Due 8th Nov. Offer TBA.

Kasei Holdings, a technology specialist investor that focuses on cryptocurrencies and blockchain technologies, due to join the AQSE Growth Market 27 Oct. No funds being raised. Due 3rd Nov.

Following the previously announced intention to demerge trading on the LSE’s Main Market on 2 November, Hostmore plc from Electra Private Equity PLC, it is expected that the Demerger will be completed and the Hostmore shares will be admitted to the Premium Segment. Hostmore is a growing hospitality business with its current operations focused on the American-themed casual dining brand, Fridays, and the cocktail-led bar and restaurant brand, 63rd+1st.

Rubix Group Holdings, the market leading pan-European distributor of industrial maintenance, repair and overhaul products and services to IPO on the Main Market (Premium). In the six months ended 30 June 2021, Rubix generated revenue from ongoing operations of EUR1,312m and adjusted EBITDA of EUR123m (9.4% adjusted EBITDA margin from ongoing operations), an increase of 10.6% and 19.3% compared to the six months ended 30 June 2020, respectively. Raising EUR850m, potential sale of existing ordinary shares by current shareholders. Raising EUR 850m. Due early Nov.

Firering Strategic Minerals to join AIM, a holding company for a group of exploration and development companies set up to focus on developing assets towards the ethical production of critical metals. The Company’s portfolio of assets is located in Côte d’Ivoire and contains projects that the Directors believe to be prospective for lithium and columbite-tantalite. Due Early Nov. Offer TBA.

Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company’s investment objective is to invest in commercial scale energy storage and renewable energy generation projects, with an initial focus on a diversified portfolio of battery energy storage systems located in Great Britain. The Company has contracted with Tesla Motors Limited in respect of its initial portfolio of battery storage projects, to be acquired on IPO. Due Early Nov.

Stelrad Radiator Group, the specialist manufacturer and distributor of steel panel radiators in the UK, Europe and Turkey, is considering an IPO on the Main Market (Premium). Secondary and primary (c.£25m) offer. Early Nov.

Pantheon Infrastructure to join the Main Market (Premium). PINT will make investments in private infrastructure assets. Due Mid Nov.

Pod Point, one of the United Kingdom’s leading providers of Electric Vehicle charging solutions is considering a Main Market (Premium) listing. As at 30 June 2021, Pod Point had installed more than 89,000 home charge points and over 13,000 commercial units, including those located at workplaces and destination locations. Timing and offer TBA.

Marks Electrical, a fast growing online electrical retailer, announced its intention to proceed with an initial IPO and to seek admission to trading on AIM. Marks Electrical sells, delivers, installs and recycles a wide range of household electrical products. In the year to 31 March 2021 revenue grew to £56m, up 78% against the previous financial year, while EBITDA increased to £7.45m, at a 13.3% EBITDA margin. The Group has made a strong start to its current financial year to 31 March 2022, with revenue growth of 78% in H1 FY2022, versus 47% growth in H1 FY2021. Offer TBA Admission is expected to take place in early Nov 2021.

M7 Regional E-Warehouse REIT intends to apply for admission onto The Property Stock Exchange (Wholesale Segment). On Admission, the company plans to acquire a portfolio of UK retail warehouses worth £120m from M7 Real Estate Investment Partners VIII. The portfolio currently comprises 18 retail warehouse properties across the UK totalling 978,317 sq ft and fully let to 53 occupiers. Rent collections for Q2 2021 stand at 93% and are expected to revert to 100% in the coming quarters.

Central Copper Resources, a company focused on delivering a high grade copper project into production and exploration of assets in the DRC and in the Republic of Zambia to join AIM. By 2022, CCR intends to be ready to commence the project financing of its Mbamba Kilenda copper project. Due Mid Nov. Offer TBC.

Breakfast Buffet

Actual Experience 75p £43m (ACT.L)
The analytics-as-a-service company has secured two further contracts for Business Impact Assessment (BIA). The first has been agreed with a Channel Partner to use across its own organisation. This will assist in planning its hybrid workplace strategy, whilst also providing a powerful reference as it sells to its own customers. The second contract is with a leading global food and beverages business.

All Star Minerals 0.04p £1.7m (AQSE:ASMO)
Corporate update from the investing company looking to pursue investment opportunities within the technology, mining and gemstone sectors. Exclusive, non-binding Heads of Terms signed with two separate companies, one with a suite of gemstone assets and one with a suite of diamond assets in May 2021. Completion of a successful placing and subscription for shares, raising gross proceeds of £256,700 in July 2021. Desktop and market driven due diligence reviews initiated on the Target Companies, resulting in: A Notice of Intention to Terminate being sent to the shareholders of the Gemstone Company. A renewed and extended HoT, over a wider suite of assets, being entered into with the Diamond Company. The Diamond Company offers: A suite of assets providing exposure to high-quality white and coloured diamonds that ASMO believes has the potential to deliver significant returns to shareholders; and an existing financing and off-take agreement in place with a group of third-party industry stakeholders to support initial set-up, production and early-stage revenue flows. ASMO is focused on environmentally and socially responsible business practices as well as transparent routes to market. The assurance of these objectives remains a key focus throughout the due diligence process. The management team has significant experience and expertise in the diamond and gemstone industry. Ian Harebottle, Interim CEO of the Company, holds 25% of the current issued share capital of the Diamond Company with which the Company has extended HoT. The Board of ASMO was unanimous in its decision to proceed negotiations with the Diamond Company.

Amryt Pharma 158.5p £502m (AMYT.L)
The global, commercial-stage biopharmaceutical company dedicated to acquiring, developing and commercialising novel treatments for rare diseases, announces its support for Acromegaly Awareness Day 2021 which is taking place on November 1, 2021. Dr Joe Wiley, CEO of Amryt Pharma, commented: “Acromegaly is a rare hormonal condition that affects its patients in profound and potentially serious ways. Acromegaly is caused by an abundance of growth hormone that signals bones, cartilage, and soft tissues to expand. Sometimes people experience growth, especially in the face, hands, and feet after they are fully grown. At Amryt, our mission is to transform the lives of people affected by rare, debilitating conditions by providing innovative medicines that bring hope to those in greatest need. We are proud to support the global acromegaly community on Acromegaly Awareness Day 2021.”

Brandshield Systems 18p £21.23m (BRSD.L)
The provider of cybersecurity solutions from brand protection to online threat hunting, has secured a new business mandate to support one of the world’s leading international e-commerce platforms. The new contract will see the Company provide its anti-phishing and impersonation prevention solutions to detect, prevent and shut down fraudulent websites duplicating the Client’s site, and online activities impersonating the Client to perform scams targeted at potential customers. Ultimately, BrandShield’s solutions are being deployed to protect the Client and its customers from online fraud.

Ixico 73p £35.15m (IXI.L)
The AI data analytics company delivering insights in neuroscience, announces that it has been selected by its largest pharma client to provide neuroimaging services for a new Phase III clinical trial focused on a demyelinating disorder. The study will be conducted across 100 sites in 10 countries and is worth more than £1.0m over seven years. This is the second Phase III trial in this disease area that has been awarded to the Company in the last twelve months. This reflects the Company’s strategy to diversify into a broader range of neurological disorders identified as having a high unmet clinical need. Whilst this contract was already included within management’s expectations for financial performance across the year, it adds to the Company’s order book and further increases visibility of future revenues.

LoopUp Group 24.5p £23.57m (LOOP.L)
The cloud platform for premium specialist communications, announced a major strategic sales and distribution alliance for its Cloud Telephony solution with a leading international telecommunications provider. Under the terms of the deal, the strategic alliance partner will resell LoopUp’s Cloud Telephony solution on a white-labelled basis to its business customer base, which spans over 20 country markets. Importantly, this alliance marks the introduction of cloud-based Microsoft Teams telephony to business customers across that region, where the general adoption of Microsoft Teams has grown strongly since its launch.

Nanosynth 0.69p £14.34m (NNN.L)
The Board of nanosynth announces that it has agreed to return control of Cloudveil Limited a wholly owned subsidiary of the Company, to Cloudveil’s founder, Antony Hugo Gillum-Webb, by transferring the Company’s shares in Cloudveil to the Founder for nominal consideration, effective immediately. The Disposal is in line with the Board’s strategy which is to focus on the synthesis and application of the Company’s core capabilities and has been strengthened by the appointment of Mark Duffin as CEO in September 2021. The Disposal follows the Board’s decision earlier this year to reduce its holding in Gyrometric Systems Limited, as approved by shareholders in August 2021, and following this the Group will have two wholly owned subsidiaries, being Pharm 2 Farm Ltd and nanosynth Ltd.

Power Metal 1.75p £22.2m (POW.L)

The London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces that the Company and its wholly-owned subsidiary Golden Metal Resources Ltd., have exercised the option to acquire a 100% interest in the Pilot Mountain Project located in Nevada, United States of America. Power Metal plans to spin-out Golden Metal into a new listing on the London capital markets. Golden Metal will hold 100% interests in Pilot Mountain together with the Garfield and Stonewall projects. Golden Metal will also hold the right to earn a 100% interest in the Golconda Summit project. All projects are located in Nevada.

Water Intelligence 1225p £225m (WATR.L)
The multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable announced the completion of the acquisition of Wat-er-save Services Limited (WS), a UK provider of leak detection, repair and water infrastructure services to UK commercial customers including universities and leisure resorts. WS is based in Dorchester, Dorset. The transaction is operationally strategic and earnings accretive for Water Intelligence shareholders. Financially, despite Covid-related restrictions, WS executed approximately £0.95m of sales and £0.25m of profit before tax for the year-ended 30 June 2021. WS’s net assets were £0.4m as at 30 June 2021. The purchase price is £0.7m on a cash-free, debt-free basis.

Verici DX 73.5p £104m (VRCI.L)
The developer of advanced clinical diagnostics for organ transplant, announces that it has signed an agreement with the American Society of Transplantation (AST) to establish a Career Development Research Grant, commemorating Dr. Barbara T. Murphy, the Company’s late co-founder and Board member. The grant will be awarded annually to a talented researcher in the fields of transplant science and immunology, enabling them to expand on preliminary research findings that have the potential to further the knowledge base in these areas. Dr. Barbara T. Murphy, who passed away on 30 June 2021, was a leading nephrologist and specialist in kidney transplant immunology, with her research focusing on predicting and diagnosing the outcomes of kidney transplants. The value of the initial grant is $50k. The AST will be collecting the applications, with members of the AST Research Network Scientific Review Committee (SRC) choosing the recipient based on a scoring system reviewing the quality of the research. The grant recipient will be recognised during the 2022 American Transplant Congress, held from June 4-7, 2022, in Boston, MA, USA.

1 November 2021
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour


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