Independent Living REIT plc, intends to float on the Premium Segment of the Main Market. The Company’s investment objective is to address the shortage of high-quality supported housing, delivering capital growth and inflation-linked income returns for its investors whilst providing a fair deal for society through savings for the UK taxpayer, and improved outcomes for residents. Raising £150m. Expected 4 October 2022.
The Sustainable Farmland Trust PLC, intends to float on the Premium Segment of the Main Market. The Company invests in a diversified portfolio of farmland and related agriculture-focused assets predominantly located in the US. Raising £200m. Timing TBC.
Welkin China Private Equity, newly established closed-ended investment company dedicated to investing in unquoted Chinese companies, intends to join the Premium Segment of the Main Market. The Company is targeting a raise of up to US$300m.
Georgina Energy, focusing on the exploration, development and monetisation of helium, hydrogen and hydrocarbon interests located in Australia intends to join AIM. Georgina Energy has two principal onshore interests: (1) Mount Winter Prospect in the Amadeus Basin in Northern Australia, which the Company has a right to earn an initial 75% interest; (2) Hussar Prospect, 100% owned by the Company, located in the Officer Basin in Western Australia. Expected late September.
Altona Rare Earths, the AQSE-listed mining exploration company focused on rare earth elements projects in Africa, intends to join the Main Market. The trading of its ordinary shares on the AQSE Growth Market will be cancelled simultaneously and its EPIC will be changed from AQSE:ANR to REE. Conditionally raised £1.1m. Expected late September.
Coro Energy 0.28p £6.0m (CORO.L)
The Southeast Asian energy company with a natural gas and clean energy portfolio, announces its unaudited half-year results for the period ended 30 June 2022. Revenue was $2.64m, 10x of $0.263m in 1H 2021. Gross profit was $1.3m (1H 2021: $191 in gross loss). Operating profit narrowed to $0.83m during the period (1H 2021: $2.2m in operating loss). All revenue in 1H 2022 came from the production of its Italian gas portfolio of 2,425,342. Meanwhile, Coro expects its 3MW rooftop solar pilot in Vietnam to become operational later this year. Coro also has two development stage renewables projects in the Philippines, a 100MW solar project and a 100MW wind project.
Drumz Plc 0.95p £4.0m (DRUM.L)
The investment company focused on the technology sector announced its interim results for the six months ended 30 June 2022. Revenue was £30,000 (2021: £18,000) and an operating loss of £184,000 (2021: loss of £261,000). At 30 June 2022 Drumz had cash resources of £413,000 (2021: £380,000). The two principal assets are Acuity Risk Management Limited (Acuity) and a legacy holding in KCR Residential REIT plc (KCR). Acuity’s revenue for the year ended 31 March was £1.55m, up 26% from the prior year. Drumz is looking to acquire a target business so that it can transform from an investment company to a trading company.
Empyrean Energy 1.0375p £8.2m (EME.L)
The Australia-based oil and gas development company announce its final results for the year ended 31 March 2022. Total expenses increased by 710% to $7.7m, primarily due to $4.1m impairment and $2.0m cyber fraud loss. In May 2022 US$2.25m was raised through an equity placement to complete further post well analysis of the Jade well, satisfy any further costs associated with the Jade drill, conduct a comprehensive oil migration study in conjunction with CNOOC for potential oil charge to the Topaz prospect. However, in order to meet the well commitment at Topaz and to meet the repayment terms of the convertible note of $4.1m, the Company is required to raise further funding either through equity or the sale of assets and as at the date of this report the necessary funds are not in place.
Katoro Gold 0.325p £1.5m (KAT.L)
The gold and nickel exploration and development company announces its unaudited interim results for the six months ended 30 June 2022. Operating loss was reduced by 18% year-on-year to £640,372. As of 30 June 2022, the company had a cash balance of £342,481 and a financial liability of £184,779. During the period, the company completed the drill program on Haneti Nickel project (see RNS dated 31 May 2022). Katoro Gold is assessing various new projects to further diversify its portfolio, in alignment with its focus on gold and mineral exploration and development in Africa.
Light Science Technologies 6.75p £11.8m (LST.L)
The controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group, provides an update on progress on its contract with Zenith Nurseries Ltd to develop a cloche lighting and sensor technology system. The project’s first milestone, Gateway 1, is now complete, resulting in revenue of £51,000. The customer has redefined its near-term priorities in response to ongoing energy and import conditions and the project will proceed to Gateway 4. This phase is expected to commence in 1H 2023 with potential revenues of c.£1.9m. The overall time scale and potential contract value of £13.84m remains unchanged.
MySale Group 2.25p £21.4m (MYSL.L)
The online retailer announces that it is today publishing its response circular in relation to the unsolicited cash offer for the entire issued and to be issued ordinary share capital of MySale, not already owned by Frasers, at a price of 2p per share (the Offer Price) in cash on 17 August 2022 (the Offer). On 29 June 2022, Frasers acquired 270.7m MySale Shares at a price of 2p per share and, together with the contracts for difference already held by Frasers, became MySale’s largest shareholder with 28.66% voting rights. By taking into account the average share price over the 12-month period ended on 16 August 2022, the Offer Price represents a discount of approximately 53.0%. Hence, the MySale Directors do not consider that the Offer Price reflects an appropriate control premium.
Naked Wines 94.65p £70.0m (WINE.L)
The online wine retailer announces that Rowan Gormley, former-CEO and material shareholder, has been appointed as an advisor to the board as the company finalises its revised operational and financial plans. The company will announce these revised plans during the week commencing October 17th. As of the date of this announcement, Rowan Gormley (directly and via related parties) owns 2,134,104 shares representing 2.9% of the Group’s issued share capital and will be subject to Naked’s share dealing policy. The position of Board adviser is unpaid and is expected to last for a period of two to three months. Mr Gormley will represent the views of shareholders and advise the Board accordingly.
Ncondezi Energy 0.925p £3.8m (NCCL.L)
The African power development company announces the finalised terms and conditions of convertible loans: (1) restructuring of Seritza Limited working capital facility term loan to a convertible loan note, subject to shareholder approval; (2) the convertible loan to be increased by an additional £100,000 to be made available by certain Directors of the Company, to accelerate development of the Solar Project (First Tranche); (3) perhaps an additional tranche of £150k (Second Tranche) at the convertible loan lender’s discretion in the six months following the restructuring. Certain Directors have entered into a binding undertaking, preventing the shareholder loan being called before the later of 30 November 2023.
Roquefort Therapeutics* 7.875p £10.2m (ROQ.L)
The biotech company focused on developing first in class drugs in oncology announces the completion of its acquisition of the entire issued share capital of Oncogeni Limited for an aggregate consideration of £5.5m satisfied by the issue of 50m new ordinary shares. In conjunction with the acquisition, Roquefort has appointed Ajan Reginald as Executive Director and Chief Executive Officer; Professor Sir Martin Evans (a Nobel laureate) as Executive Director and Group Chief Scientific Officer; Dr Darrin Disley as Non-Executive Director; and Professor Armand Keating as an independent Chief Medical Advisor (a non-board position). Meanwhile, Roquefort also completed a placing of 7 ,249,998 shares at 14p per share to raise gross proceeds of £1m. The proceeds will be used to fund the Oncogeni pre-clinical drug development programs and working capital. Executive Chairman Stephen West and CEO Ajan Reginald will give a live presentation via the Investor Meet Company platform on Thursday 22 September at 2.00pm BST.
Windward Ltd. 77.5p £64.8m (WNWD.L)
The leading Maritime AI company announce that it will be presenting at the 2022 GTR (Global Trade Review) Commodities conference in Geneva on 20 September, after contract wins with three Swiss commodity trading companies in recent months. The new clients are involved in the trading of oil and gas, petrochemicals, bulk products, fertilisers, and soft commodities. They are using Windward’s platform to enhance their due diligence and screening processes to mitigate all maritime related risks including sanctions risk and compliance risk.
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@hybridan.com with “unsubscribe me”.
