Small Cap Feast

11th April 2024

Dish of the day
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Dish Of The Day:



Loopup Group (LOOP.L) has left the AIM market.

Whats baking in the oven?

Potential Initial Public Offerings:

Reverse Takeovers:

Change of Market:

TheWorks (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated proposition as a value alternative to full price specialist retailers. The Company is listed on the premium segment of the Main market of the London Stock Exchange. The Company has announced its intention to change to the AIM market on the 3 May 2024.

Banquet Buffet

Corero Network Security 12p £61.1m (CNS.L)
The distributed denial of service protection specialists announce a new partnership with TierPoint, a provider of secure, connected IT platform solutions, to provide the backbone for its next-generation defence infrastructure. The $1.8m contract with TierPoint over a three-year period continues Corero's significant new contract momentum in the cybersecurity space, further cementing the Company's position as a preferred provider of innovative DDoS protection solutions for enterprises worldwide.

Crossword Cybersecurity * 5p £5.1m (CSS.L)
The cybersecurity solutions company focused on cyber strategy and risk announces that Chris Dunning-Walton has joined Crossword as Managing Director - Consulting, heading up Crossword's cybersecurity consulting division. Chris will join the Group's Executive Committee. Chris has worked in the cybersecurity and IT sectors for over 20 years and has a very strong network in the cybersecurity industry. Chris founded Infosec People Ltd, which specialises in Cybersecurity recruitment, in 2008. Chris sold the business to a management buyout in 2023, having built the business from inception.

Goldplat 7.9p £13.3m (GDP.L)
The Mining Services Group, with international gold recovery operations located in South Africa and Ghana, servicing the African and South American Mining Industry announces the appointment of Brent Doster and Douglas Davidson to the board with immediate effect. Mr Doster and Mr Davidson both joined the Company in 2023 as Group Chief Financial Officer and Group Chief Operating Officer respectively and these appointments to the board of directors recognise the contribution by both individuals.

Kibo Energy * 0.04p £1.8m (KIBO.L)
The renewable energy-focused development company announces a business update by its subsidiary Mast Energy Developments PLC a UK-based multi-asset owner, developer and operator in the rapidly growing flexible power market. The initial first phase work programme at MED's Pyebridge 9MW flexible power generation asset successfully completed ahead of schedule, with the site now officially back into operation. Furthermore, initial pre-construction work completed at MED's 7.5MW Hindlip Lane flexible power generation project, and Certificate of Lawful Commencement granted.

Longboat Energy 18.5p £10.6m (LBE.L)
The full cycle emerging E&P business announces its results for the 12 months ended 31 December 2023. Cash balance of £3.7m (FY 2022: £12.1m) with no consolidated exploration finance facility (EFF) borrowings due to the balances of Longboat JAPEX no longer forming part of the consolidated balance sheet. The continuing operations loss after taxation for the period, excluding other comprehensive income, was £9.3m (2022: £2.6m), with a profit on discontinued operations being £5.1m(2022: loss of 12.9m) resulting in a loss for the period of £4.2m.

M&C Saatchi 176p £215.5m (SAA.L)
The Company announces the appointment of Rob Doubal and Laurence Thomson as the new joint Global Chief Creative Officers. Rob and Lolly join M&C Saatchi from McCann London, where they held the position of joint CCOs of McCann UK and co-presidents McCann London. This is a newly created role and will be critical as M&C Saatchi rolls out its new operating model, providing a central focal point for the Group's creative ambition and activities.

Mobile Streams 0.045p £2.9m (MOS.L)
The Company announces the appointment of John Barker, 63, as a Non-Executive Director of the Company with immediate effect. John is a highly experienced business leader with over 35 years' operating within financial markets and more lately the sports and gaming sectors. John has considerable expertise within e-sports, fan platforms and sports content which will complement Mobile Streams' business strategy going forward.

Onward Opportunities 115.5p £19.6m (ONWD.L)
The Company announces its annual results for the period to 31 December 2023. FY23 audited Net Asset Value Total Return of 11.3% to 106.5 per share over the nine months from Initial Public Offering , 30 March 2023, to 31 December 2023. Outperformed UK AIM All Share total return index by 15.0%; 11.3% Company NAV increase versus decline of 3.7% for UK AIM All Share. Portfolio delivered an aggregate Internal Rate of Return of 22.6% and the invested portfolio as at year-end generated an unrealised IRR of 40.2%, against a target return of 15%, stated at the time of IPO..

Novacyt 50.5p £36.6m (NCYT.L)
The international molecular diagnostics company with a broad portfolio of integrated technologies and services announces changes to the Board of Directors. Lyn Rees, Executive Director, has been appointed Chief Executive Officer and James McCarthy will step down from the Board as Acting CEO, both effective from 1 May 2024. James will remain with the Company for a period of time to officiate a smooth transition.

Red Rock Resources 0.0575p £2m (RRR.L)
The natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia announces that it has placed 509,804,000 new ordinary shares by a placing at 0.051p raising a total of £260,000.04 before expenses. The Placing was arranged by Clear Capital Markets Limited. The Placing proceeds will be applied to bringing gold assets in Burkina Faso to production, in accordance with the announcement of 27 February 2024, and other working capital purposes.

11 April 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged


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