Small Cap Feast

15th February 2023

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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, 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


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