Small Cap Feast

16th February 2023

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What’s Cooking In The IPO Kitchen?

PanGenomic Health Inc, currently traded on the Canadian Securities Exchange market. intends to dual list on the AQSE Growth Market, as a springboard to expand footprint of its personalized and self-care digital health platforms in the UK/EU markets. The Company has three platforms: Nara App, Mindleap.com and the PlantGx Platform. PanGenomic Health Inc is currently traded on the CSE . A total of 99,128,169 Class A common shares, or 88.6% of the total issued shares, will be floated. Admission is expected 21 February..

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

AssetCo 68.0p £93.9m (ASTO.L)
The agile asset and wealth management company announces its results for the year ended 30 September 2022. Assets under management (AuM) as at 30 September 2022 were £2.7bn (2021: £113m). Loss for the year was £9.2m (2021: profit of £14.6m), due to acquisition costs and reorganisation costs. Significant cost reduction in listed equities business well underway with £10m of annualised costs cut in River and Mercantile by 30 September 2022. AssetCo intends to maintain a progressive dividend policy and continues to seek out acquisition opportunities. As at 3o September 2022, the Company had a cash balance of £43m.

CPP Group 206p £18.2m (CPP.L)
The provider of real-time assistance products and resolution services which reduce disruptions to everyday life, announced that its InsurTech, Blink Parametric (Blink) has signed a new partnership agreement for its flight disruption product with a large European insurer, with a launch in Ireland planned for early 2023. Blink has also signed an agreement to launch its first offering into the US market. In the UK, a strategic partnership was formed with Firemelon, a travel insurance sales and administration systems to major travel brands. The Firemelon's Magenta Insurance System will access to Blink's real-time platforms for time to market. The first customers are expected to be operational on Firemelon's system in early 2023.

Creo Medical Group 23.25p £42.4m (CREO.L)
The medical device company focused on the emerging field of surgical endoscopy, announces a proposed fundraising for a minimum of £25m (net of expenses) via a conditional placing and subscription of new ordinary shares at the issue price of 20 pence per share and up to £5.2m by way of an open offer. The Directors and certain members of senior management have indicated an intention to participate approximately £2.1m in the fundraising. The proceeds will be used to maintain momentum in the business.

Falcon Oil & Gas 10.3p £106.4m (FOG.L)
The oil and gas company active in Australia, South Africa and Hungary, announces the commencement of the well stimulation programme at the Amungee NW-2H (A2H) well. This well was drilled to a total depth of 3,883 metres, including a 1,275-metre horizontal section within the Amungee Member B Shale in the Beetaloo Sub-Basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B1) Pty Limited in December 2022. Following stimulation, up to four-weeks of fluid flow back is expected to take place prior to the installation of production tubing. The 30-day initial production rates are expected early in the second quarter of 2023.

Harland & Wolff Group 14.7p £25.4m (HARL.L)
The company focused on strategic infrastructure projects and physical asset lifecycle management, provides an update on the Cory Barges contract. As the first milestone of the contract, the first hull for the Cory Barges fabrication contract has been successfully completed at the Company's Belfast facility. The client has approved the hull and this will now pass into the painting hall prior to its delivery later in Q1 2023. The second barge will also soon be completed, whilst the next two are also well advanced. The work being undertaken on these barges has supported the facility in advancing vital shipyard skills which will be required for the Fleet Solid Support warship programme.

Hollywood Bowl Group 241.25p £412.7m (BOWL.L)
The international leisure operator of ten-pin bowling and mini-golf centres, announces the acquisition of three Canada-based businesses, i.e., HLD Investments Inc. (operating as YYC Bowling & Entertainment), Mountain View Bowl Inc and Wong and Lewis Investments Inc. (operating as Let's Bowl), for a combined total consideration of CAD12m. On a proforma basis, for the 12 months to 30 September 2022, these centres generated CAD 7.1m and CAD 2.8m on a pre-IFRS 16 basis, equating to a purchase price of 4.3x pre-IFRS 16 EBITDA.

Libertine Holdings 21.0p £29.2m (LIB.L)
The developer of Linear Generator technology, has signed a term sheet with Azelio to jointly integrate and licence Libertine's HEXAGEN TM platform for energy storage applications. Based in Gothenburg, Sweden, Azelio has developed a long duration energy storage system, providing dispatchable electricity and usable heat with zero emissions. Libertine and Azelio will work together to integrate Libertine's HEXAGENTM platform for use with Azelio's energy storage technology and to establish a licence agreement for the use of Libertine's HEXAGEN TM platform in Azelio's product development, demonstration, pilot and commercial sales of energy storage systems across the world.

Red Rock Resources 0.31p £4.2m (RRR.L)
The natural resource development company with interests in gold and base metals, principally in Africa and Australia, announces an update in relation to the tenement holdings and exploration activity of the Company's Victoria Goldfields joint venture (JV). The company has renewed the exploration licence covering the historic Berringa gold mine, were a diamond drill programme is currently ongoing. The JV is held through New Ballarat Gold Corporation PLC (NBGC), 50.1% owned by Red Rock and 49.9% owned by London-listed Power Metal Resources Plc (49.9%).

t42 IoT Tracking Solution 5.75p £3.0m (TRAC.L)
The provider of global shipping containers tracking solutions, provides a trading update for the year ended 31 December 2022: revenue expected to be approximately US$4m, including $2m in SaaS income. The Company is targeting significant revenue improvement in 2023 based on continued business with existing clients. Meanwhile, management is accelerating upfront cash payments to suppliers to shorten the supply chain period and ensure delivery preference. The Board continues to explore acquisition opportunities to broaden its business base and strengthen presence in its key markets.

Windward 54.0p £46.3m (WNWD.L)
The Maritime AI company announces the launch of additional ETA (estimated time of arrival) Insights with the additional capability of providing reasons for shipment delays. Windward's Reasons for Delay is an added capability on the Company's OFV (Ocean Freight Visibility), initially launched in February 2022. The Reasons for Delay capability identifies three types of reasons for delays: rollover, transhipment delay, and late departure.

16 February 2023
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour

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