Small Cap Feast

15th February 2023

Dish of the day
No Joiners today
Off the menu
No leavers today
 
Dish Of The Day:

Joiners: 
No joiners today.

Leavers:
K3 Capital Group Plc has left AIM.



What’s Cooking In The IPO Kitchen?

PanGenomic Health Inc, a precision health company that has developed a self-care digital platform to deliver personalised, evidence-based information about natural treatments to support mental health, intends to join the AQSE Growth Market. The Company has three platforms: Nara App, Mindleap.com and the PlantGx Platform. PanGenomic Health Inc is currently traded on the CSE (Canadian Securities Exchange) market. Admission TBC.

According to media reports, World Chess plc, a leading chess organisation seeking to promote the mass market appeal of chess globally through the commercial offering of chess related activities, intends to join the Main Market in mid February..


Breakfast Buffet

Active Energy Group 4.43p £7.2m (AEG.L)
The international biomass based renewable energy business, announces it has received two trademarks for the registration of CoalSwitch® in the USA and UK. CoalSwitch®, has been shown to reduce CO2 emissions by up to 99% compared to coal and up to 97% compared to natural gas in an independent report from Life Cycle Associates. This is in addition to the STEP programme that showed this fuel can readily co-fire with coal and in doing so significantly reduces emissions and produces fewer pollutants. Additional trademark applications have commenced for registration of the trademark in other international markets.

CAP-XX 3.03p £15.4m (CPX.L)
The design and manufacture of supercapacitors and energy management systems, announces the launch of its DMV750 ultra-thin 2.2mm prismatic 3V supercapacitor to provide high performance for IoT, medical and other space-constrained and mission-critical electronic devices. The 3V prismatic supercapacitor can complement 3V coin cell primary batteries, replace bulky 3V cylindrical supercapacitors in space-constrained devices, or enable battery-less energy storage using energy harvesting. The first samples have already been shipped to select customers.

ECR Minerals 0.775p £9m (ECR.L)
The gold exploration and development company focused on Australia, announces that it has executed a sale and purchase agreement of the Company’s Bailieston property. A cash sale price of A$670k has been agreed for the Nagambie-Rushworth Road property, with a deposit of A$67k already received. Funds raised will be deployed into ECR’s ongoing 2023 exploration programme. Completion of the transaction and settlement of the A$603k final balance is expected to occur on or around April 27 2023.

Gattaca 76.5p £24.7m (GATC.L)
The STEM staffing solutions business, provides a trading update for the six months ended 31 January 2023. The Group’s NFI (NFI calculated as revenue less contractor payroll costs) is expected to be £22.7m (H1 22: £21.6m), an increase of 5.1% YoY. The Group expects net cash at 31 January 2023 of £21m (31 July 2022: net cash of £12m). The Group continues to see demand for STEM skills in its core sectors and a shortage of candidates.

LPA Group 84p £11.3m (LPA.L)
The designer, manufacturer and supplier of high reliability LED lighting, electronic and electro-mechanical systems, and a distributor of engineered components focused on transport, defence and infrastructure markets provides a update on contract wins and orderbook. The Group announces orderbook of £34m, with the receipt of a £5.3m order for the supply of electro-mechanical products to the UK rail industry and it is expected to commence towards the end of the LPA Groups’ FY. The Group remains on track to deliver FY23 results in line with current Board expectations.

Midatech Pharma 1.7p £1.8m (MTPH.L)
A drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines, announces the closing of the private placement to raise gross proceeds of US$6m at an issue price of US$0.58 per unit. The net proceeds are expected to be approximately US$5.2m (c.£4.3m). Midatech intends to use the net proceeds to continue funding of the clinical development program of MTX110, its product for recurrent glioblastoma and DIPG, and for working capital and general corporate purposes.

Pan African Resources 14.68p £281.3m (PAF.L)
An African-focused gold producer located in South Africa announces interim financial results to 31 Dec 2022. Group production decreased by 14.6% to 92,307oz (2021: 108,085oz). The decrease in production is attributable to Barberton Mines’ underground operations, and will be addressed by reconfiguring Fairview and Sheba Mines’ shift cycles to continuous (24-hour) operations and converting Consort Mine to a contract mining model. The Group generated profit after tax of US$28.9m (2021: US$46.1m). The Company expects its production for the full 2023 financial year to be in line with the production achieved in the 2022 financial year.

Sondrel Holdings 56.25p £49.2m (SND.L)
The semiconductor business providing turnkey services in the design and delivery of application specific integrated circuits and system on chips for leading global technology brands, provides an update on trading for the financial year ended 31 December 2022 (FY22). The Group saw revenue growth of 116% YoY with FY22 revenue of £17.5m (FY21: £8.1m) and net proceeds from the Company's IPO have been deployed to accelerate the Group's future growth. During FY22, the Group secured design wins in the automotive, Edge-AI, mobile, networking, and aerospace markets. The Group continues to deliver in line with its expectations.

The Brighton Pier Group 61p £22.7m (PIER.L)
A diversified UK leisure and entertainment business, announces a trading update for the 78 week period to 25 December 2022, following the accounting reference date change from the end of June to the end of December. The Group reports total unaudited revenues of £58.9m (2019: £49.4m), up 19% on the same pre-COVID 78 week period ending 26 December 2019. The Group has repaid £9.1m of debt, reducing borrowings from £20.4m to £11.3m and reducing its net debt by 46% from £13.1m to £7m. The Group continues to trade in line with market expectations.

Zephyr Energy 6.15p £98.2m (ZPHR.L)
The Rocky Mountain oil and gas company focused on responsible resource development from carbon-neutral operations, provides a full-year 2022 (FY 2022) results related to hydrocarbon production and cashflows from its non-operated asset portfolio in the Williston Basin (Williston project). The Company expects total revenue for FY 2022 of US$42.9m (FY 2021: US$6m), ahead of market expectations (US$35-40m). Operating income for FY 2022 was US$35.7m. The Company expect this years' Williston project production to exceed last years' again.

15 February 2023
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged

STAY INFORMED

Our daily digest of news from UK listed Small and Mid caps straight to your Inbox.

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”.

© Copyright 2024 - Hybridan | Website by Boxed Up Media
First Visit
bookcrossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram