Small Cap Feast

15th April 2024

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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

Audioboom 260p £42.6m (BOOM.L)
The global podcast company announces its final audited results for the year ended 31 December 2023. Revenue decreased to $65m (2022: $74.9m). Adjusted EBITDA loss of $0.4m (2022: $3.6m profit), Average 2023 global monthly downloads increased 4% to $121.9m (2022: $117.1m). Furthermore, Cash balance of $3.7m (2022: $8.1m). The Company anticipates record revenue in 2024 and a return to adjusted EBITDA profitability.

Checkit 22p £23.8m (CKT.L)
The augmented workflow and smart sensor automation company for frontline workers announces a new product launch and contract wins in the UK. The Company announces the launch of a new product, Asset Intelligence. This product module applies advanced analytics and Machine Learning to IoT data which will help enhance customer sustainability, reduce costs, and improve revenue. Furthermore, The Company announces new contract wins from two existing customers worth a minimum of £417,000 in total lifetime revenue over their three year terms.

Eco Buildings 10.5p £8.1m (ECOB.L)
The modular housing company announces that Dr Etrur Albani, co-founder and non-executive board member, has agreed to assume a full-time role as the Group's Executive Vice Chairman. In his new role, Dr Albani will be responsible for managing existing client relationships as well as developing new contracts, working with CEO Sanjay Bowry in setting and maintaining the Company's strategy on how best to capture the rapidly growing demand for modular housing worldwide in general, and for the Group's innovative product offering in particular.

Engage XR Holdings 2p £10.5m (EXR.L)
The spatial computing and metaverse technology company announces its audited results for the 12 months ended 31 December 2023. Revenue decreased to £3.16m(2022: £3.33m), EBITDA loss reduced to £3.41m (2022: £4.95m), Cash balance of £6.74m (2022: £1.88m). Record revenue quarter in Q1 2024 of just over £1.7m contracted revenue booked in. Over 70% of this revenue is professional education.

European Green Transition 12.25p £17.7m (EGT.L)
The company developing green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition provides an update on certain developments relating to its principal asset, the Olserum Rare Earth Project in Sweden. The Company has concluded consultation with landowners and the Kalmar County Board and has been permitted to execute its work plan for drilling at the Olserum Rare Earth Project, which the Company expects to commence in H2 2024. The Company now has a valid work plan for an initial drilling program of up to 9,000m across 42 drill holes, with flexibility to alter the program within the approved working areas.

Faron Pharmaceuticals 127.5p £91.8m (FARN.L)
The clinical-stage biopharmaceutical company pursuing a CLEVER approach to reprogramming myeloid cells to activate anti-tumor immunity in hematological and solid tumor microenvironments announces the appointment of Yrjö Wichmann as the Company's interim Chief Financial Officer, effective 15 April, 2024. Mr. Wichmann succeeds James O'Brien, who is leaving Faron to pursue another career opportunity.

Getech 8.75p £5.9m (GTC.L)
The locator of subsurface resources announces three separate contract wins related to the exploration of natural hydrogen. The first is a strategic joint venture exploration agreement with a new customer partner, while two additional contracts have been secured with existing exploration clients. The Company is at the forefront of this exciting new subsurface energy transition opportunity. Combined, the three transactions are expected to generate £390k of revenue over 3 years, with additional potential upside.

Fusion Antibodies 3.95p £3.8m (FAB.L)
The pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications announces that it has entered into a commercial contract to develop a bespoke OptiPhageTM library for a non-human antibody species with a global provider of antibodies for use in research and diagnostics. OptiPhageTM is Fusion's proprietary phage display platform based on the OptiMAL® library design but in a phage display format. It is anticipated that the Project will provide the Client with an alternative pathway to produce high quality antibodies, reducing its need to run animal-based antibody generation.

KRM22 27.5p £9.8m (KRM.L)
The technology and software investment company that focuses on risk management for capital markets announces the signing of a major customer contract for the Limits Manager product. The Company has completed the signing of a contract with a major Futures Commission Merchant, one of industry's top 15 largest FCMs. The three year contract, worth over £0.6m over the life of the contract, is for the Limits Manager product.

Savannah Resources 3.35p £61.2m (SAV.L)
The developer of the Barroso Lithium Project in Portugal, Europe's largest spodumene lithium deposit announces that, following the successful completion of his 6-month probationary period, Mr Emanuel Proença has been appointed as an Executive Director to the Company's Board of Directors with a commencement date of 15 April 2024, and has elected to take his fixed 2023 bonus in shares in lieu of cash.

15 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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