Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Expected Admission 21 July 2023.
Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join the Access Segment of the AQSE Growth Market. Expected Admission 20 July 2023.#
Metals One Plc, a company focusing on acquiring natural resources projects with a focus on critical battery metals, including nickel, lithium, cobalt and copper intends to join the AIM Market. The Company will have interests in the Paltamo and Rautavaara projects (nickel, copper, zinc) in Finland (together the Black Schist Project) and the Brownfield Råna Nickel project in Norway (Brownfield Rana Project). These projects represent opportunities to develop deposits of scale, in stable jurisdictions, well situated to supply fastest growing European electric vehicle and energy storage markets. The Company aims to raise £2.5m at 5 pence per share with an anticipated market cap of £10.77m. Expected Admission date is 17 July 2023.
Ora Technology plc, a software company developing a digital carbon trading platform, offering users the ability to buy, sell and retire verified carbon credits in the voluntary carbon market, intends to join the Access Segment of the AQSE Growth Market. Ora’s platform aims to allow access to carbon assets - and the broader carbon economy - with the goal of reducing the complexity of current industry practices, and an emphasis towards providing a simple and intuitive user experience.
Praetura Growth VCT plc, a newly established VCT announces its intention to float on the Main Market of the London Stock Exchange. The Company will provide growth funding to scalable businesses predominantly based in the North of England, across a range of sectors including technology and healthcare. The Company will be managed by Praetura Ventures Limited, a venture capital and EIS business associated with the wider Praetura Group, a Manchester based venture capital investor and small business lender. The Company is targeting to raise £10m at 1 pence per share, via an offer for subscription. The Directors will have the option to utilise an over-allotment facility that will allow the Company to issue a further 10m Ordinary Shares under the Offer.
Anglo Asian Mining 82p £93.7m (AAZ.L)
The gold, copper and silver producer focused in Azerbaijan, provides a production, sales and operational review for the three months to 30 June 2023 (Q2 2023) and six months to 30 June 2023 (H1 2023). Total production was 23,391 gold equivalent ounces (GEOs) in H1 2023 (H1 2022: 28,722 GEOs) and 12,422 GEOs in Q2 2023 calculated using actual metal prices. Copper production increased to 1,860 tonnes in H1 2023 (H1 2022: 1,283 tonnes) and rose by 42% in Q2 2023 to 1,013 tonnes (Q2 2022: 715 tonnes). The Company held cash of $9.4m at 30 June 2023 (31 March 2023: $10.7m), with inventory valued at $8.9m.
Conroy Gold and Natural Resources 13.25p £6.3m (CGNR.L)
The mineral exploration and development company focusing on Ireland and Finland announces assay results from six shallow drill holes (totalling c.98m) at the Company's Creenkill gold target in its Mines Royal (Newtownhamilton) option, located in County Armagh, Northern Ireland. Intercepts from the initial six shallow drillholes include: 0.50m @ 11.5 g/t Au, 1.20m @ 3.8 g/t Au (including 0.90m @ 4.7 g/t Au), 0.35m at 3.1 g/t Au, 0.35m @ 2.4 g/t Au, 0.25m at 1.4 g/t Au, and 0.50m @ 0.3 g/t Au. The drilling results reported form part of an on-going overall technical assessment, incorporating drilling together with extensive soil and deep overburden sampling and geophysics, across both gold trends in the Longford-Down gold district.
Corero Network Security 6.85p £34.3m (CNS.L)
The provider of distributed denial of service (DDoS) protection solutions, provides a trading update for the six months ended 30 June 20231 (H1 2023). Revenues are expected to increase 20% to approximately $10.6m (H1 2022: $8.8m). The Company expects to report an adjusted EBITDA profit for H1 2023 of c. $0.2m (H1 2022: $0.0m). Gross cash balance as at 30 June 2023 was $6.2m (31 December 2022: $5.6m; H1 2022: $7.5m). The Company used its strong balance sheet position to repay in full its bank term loan facility early, which will result in a saving in financing costs in H2 2023. The Group has traded in line with management expectations.
Ilika 33p £52.4m (IKA.L)
The developer in solid-state battery technology, announces its results for the year ended 30 April 2023. Turnover was £0.7m (2022: £0.5m) with other income of £0.1m (2022: £0m) giving a total income of £0.8m. EBITDA loss adjusted for share-based payments for the year of £7.0m (2022: EBITDA loss of £6.4m). Cash equivalents and bank deposits were £15.9m (2022: £23.4m). During the period, Ilika has been awarded £2.8m of funding from the Faraday Battery Challenge to lead an £8.2m programme to develop high-silicon anode Goliath batteries, supported by BMW and WAE. In addition, the Company has entered into memorandum of understanding with Cirtec Medical LLC in which Ilika will develop and license Stereax technology to Cirtec for manufacturing and commercialization.
Kibo Energy* 0.055p £2.1m (KIBO.L)
The renewable-energy-focused development company announced yesterday that its subsidiary Mast Energy Developments (MED), has finalised and entered into a definitive and binding Joint Venture Agreement with an institutional investor-led consortium (led by Seira Capital) as previously announced in a MED RNS dated 18 May 2023. Under the agreement, the Institutional Investor will inject all required capital into the joint venture, with an expected total investment value of c. £31m, with no funding contribution from MED. MED will provide the required portfolio of low-carbon flexible gas generation peaker plants totalling a combined generation output of up to c.33 MW to be developed and/or acquired within the next 12 months.
musicMagpie 15.5p £16.7m (MMAG.L)
The circular economy company specialising in refurbished consumer technology, announces its unaudited interim results for the six months ended 31 May 2023. H1 2023 revenue was £61.9m, down 13% (H1 2022: £71.3m), with Adjusted EBITDA of £2.8m, up 7.7% (H1 2022: £2.6m). Gross margin increased 3.1% to 29.7% driven by a combination of direct from consumer product sourcing. Net debt was £13.6m (30 Nov 2022: £7.8m), consistent with Board expectations. Cost reduction measures reduced overheads by £0.8m in H1 2023 versus H1 2022 and the Board is confident of the Group meeting its full year expectations.
Proton Motor Power Systems 8.5p £132.1m (PPS.L)
The designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems, announces that it has received a follow-on order from DB Bahnbau Gruppe GmbH, a subsidiary of Deutsche Bahn AG, the operator of the German Rail network, for a fuel cell system based on the Company's standard HyModule® S8. Once supplied, the system will be used for application fuel cell substitute power supply for rail infrastructure. Proton anticipates that the system will be delivered in the first quarter of 2024 with revenues being recognised in that year.
System1 Group 165p £20.9m (SYS1.L)
The Creative Effectiveness Platform that harnesses the power of emotion to drive profitable growth for the world's leading brands, announces a trading update for the quarter ended 30 June 2023 (Q1). Predict Your (data) revenue grew by 36% to £4.0m, and Improve Your (data-led consultancy) revenue increased by 15% to £0.9m, bringing total platform revenue to £4.9m, up 32%. Total Group revenue grew by £0.9m (18%) to £6.2m. The Company published and road-showed at Cannes and MADfest London four separate thought leadership pieces on creative effectiveness in collaboration with four new partners including Pinterest, Finecast, Teads and JCDecaux.
Trinity Exploration & Production 74.5p £28.6m (TRIN.L)
The independent E&P company focused on Trinidad and Tobago, announces that the Jacobin well is currently being sidetracked, with drilling in progress. Trinity is also announces that the Lower Cruse section drilled so far demonstrates the presence of multiple oil-bearing sandstone reservoirs. The Jacobin well was drilled to 9,325 ft at which depth unexpected wellbore conditions prevented further progress, necessitating a sidetrack. This is being effected immediately and the well will continue to drill ahead to the planned depth of approximately 10,000 ft, which is expected to be achieved in two weeks.
UK Oil & Gas Investments 0.0575p 12.1m (UKOG.L)
The UK-based oil and gas exploration and production company announces that the Avington Joint Operating Committee has now formally agreed to restart oil production at the field. Prior to its 2017 shut-in, the field had produced 0.276 million barrels of an estimated mid case of 59 million barrels of original oil in place (OIP), a recovery factor of only 0.47%. Avington operations will recommence via a workover of Avington-3z, the field's best performing well, which came on stream in 2007 and accounts for around 81% of produced oil.
Disclaimer
This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to any such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific person or entity and is not a personal recommendation to any such person or entity. Recipients should reach an individual investment decision, based upon their respective financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, such information has not been independently verified and therefore it is not possible to confirm such information as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.
The content of this document includes market commentary and other information which we have prepared in relation to the company referred to in this document, which is our broking client. The provision of this document to you constitutes a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of Regulation 600/2014/EU (MIFID II Regulation).
Any and all opinions expressed are current as of the date appearing on this face of this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, constitutes non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook to reflect the requirements of the MIFID II Regulation and Directive 2014/65/EU (known as MIFID II)). The individuals who prepared this document may be interested in shares in the company concerned and/or other companies within its sector, may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as relevant persons). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.
Neither this document, nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Where possible this document is made available to all relevant recipients at the same time. Dissemination of research by Hybridan LLP is monitored to ensure that it is only provided to relevant persons. Research prepared by Hybridan LLP is not intended to be received and/or used by any person who is a retail client.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
MIFID II status of Hybridan LLP research
The cost of production of our corporate research is met by retainers from our corporate broking clients. In addition, from time to time we issue further communications as market commentary (such as our daily newsletter, Small Cap Breakfast), which we consider to constitute a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of the MIFID II Regulation.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.
If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”.
This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to any such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific person or entity and is not a personal recommendation to any such person or entity. Recipients should reach an individual investment decision, based upon their respective financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, such information has not been independently verified and therefore it is not possible to confirm such information as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.
The content of this document includes market commentary and other information which we have prepared in relation to the company referred to in this document, which is our broking client. The provision of this document to you constitutes a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of Regulation 600/2014/EU (MIFID II Regulation).
Any and all opinions expressed are current as of the date appearing on this face of this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, constitutes non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook to reflect the requirements of the MIFID II Regulation and Directive 2014/65/EU (known as MIFID II)). The individuals who prepared this document may be interested in shares in the company concerned and/or other companies within its sector, may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as relevant persons). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.
Neither this document, nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Where possible this document is made available to all relevant recipients at the same time. Dissemination of research by Hybridan LLP is monitored to ensure that it is only provided to relevant persons. Research prepared by Hybridan LLP is not intended to be received and/or used by any person who is a retail client.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
MIFID II status of Hybridan LLP research
The cost of production of our corporate research is met by retainers from our corporate broking clients. In addition, from time to time we issue further communications as market commentary (such as our daily newsletter, Small Cap Breakfast), which we consider to constitute a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of the MIFID II Regulation.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.
If you would like to unsubscribe, please email enquiries@chrish351.sg-host.com with “unsubscribe me”.
