Ocean Harvest Technology Group plc, a commercial scale producers of seaweed blend ingredients for the animal feed market intends to join AIM. The main country of operation is Vietnam where the Company's main production and processing facility is located. The Company is headquartered in Theale, UK with further operations in Galway, Ireland and Binh Duong Province, Vietnam. Expected Admission date 29th March 2023.
M7 Box+ REIT plc, a newly established, externally managed closed-ended investment company announces that it intends to join the Wholesale segment of IPSX. Upon Admission, the Company proposes to acquire a portfolio of seven let and operational e-warehouses from M7 Box+ II LP. As at 31 December 2022, the Property Portfolio was valued at £228.9m. Expected Admission April 2023.
Altona Rare Earths, a mining company focused on the development of a significant Rare Earth Elements (REE) mining project in Africa, announced its intention of withdrawing from the AQSE Growth Market to the Standard Segment of the Main Market. The Company has just raised £2m and plans to use the proceeds to complete its maiden JORC compliant Mineral Resource Estimate and a Scoping Study for its Monte Muambe Rare Earths mining project in northwest Mozambique. Expected Admission date 20th March 2023.
Fadel Partners, a developer of cloud-based brand compliance and rights and royalty management software in the media, entertainment, publishing, consumer brands and hi-tech/gaming sectors intends to join the AIM market. Fadel has two solutions, being IPM Suite and Brand Vision. Expected Admission date is late March 2023.
Onward Opportunities Limited intends to join the AIM market. The Company's investment objective is to generate returns for Shareholders through investments in equity and equity-related instruments of UK smaller companies that are predominantly listed or admitted to trading on markets operated by the London Stock Exchange. Expected admission date is mid-March 2023.
Circle Property 120p £35.1m (CRC.L)
A specialist property investment company, that acquires regional office properties where it can add value by undertaking lease renewals, rent reviews, lettings and refurbishments announces further to the announcement dated 23 November 2022, the Company has completed on the sale of Somerset House, Birmingham for £15.18m. The Company intends that the B Shares will be redeemed on 21 March 2023, for 158p per B Share amounting to a first Return of Capital to Shareholders of c.£46.16m. Completion of the sales of Concorde Park, Maidenhead and Victory House, 400 Pavilion Drive, Northampton for consideration of £15m are expected end of March 2023, following which the Company expects to make a second return of capital in April 2023 through a B Share Issue expected to be for 51p per share amounting to c.£14.9m.
Crossword Cybersecurity* 10.5p £9.7m (CCS.L)
The cybersecurity solutions company focused on cyber strategy and risk, announces the launch of its new Ransomware Readiness Assessment service. The service helps organisations reduce their exposure to ransomware attacks, provides detailed assessments on areas requiring protection and recommends how they should respond to attacks. The Ransomware Readiness Assessment service leverages Crossword's worldwide experience in providing cyber threat intelligence to organisations. Using an industry-specific approach and response forensics, an organisation's current exposure, control systems and ability to respond to a ransomware incident is analysed. Three assessments in the service cover the following areas regarding an organisation's operational readiness: Exposure, Controls and Response. The service helps organisations test the processes they have in place, achieve a cybersecurity stance that mitigates risks and gives them the tools to act when faced with an attack.
EMIS Group £18.15 £1,149m (EMIS.L)
A UK leader in connected healthcare software and systems where its solutions are widely used across a number of major UK healthcare settings announces that on 17 June 2022, the Boards of Bordeaux UK Holdings II Limited (Bidco), and EMIS announced that they had reached agreement on the terms of a recommended all cash offer pursuant to which Bidco will acquire the entire issued and to be issued ordinary share capital of EMIS. EMIS will continue to offer its full support to Bidco in order to obtain the necessary clearance; and Bidco, with the full support of EMIS, now intends to engage with the Competition and Markets Authority with the objective of agreeing suitable undertakings in lieu of a Phase 2 reference.
Guanajuato Silver 27p £81m (AQSE: GSVR)
A precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico announces that the Company has arranged a new US$5m silver and gold pre-payment facility with Swiss-based precious metals trading firm, OCIM Metals & Mining S.A. (OCIM); upon closing, the new pre-payment facility will fully replace the current OCIM gold and silver pre-payment facility which has a balance of c.US$5.5m. The new pre-payment facility has a 19-month term with an initial 3 month delivery free grace period. The Company mention that the new pre-payment facility with OCIM provides additional financial flexibility for the balance sheet.
Neometals 35p £180.2m (NMT.L)
The emerging sustainable battery materials producer, announces material progress in the finance process that is being run for its joint venture company, Recycling Industries Scandinavia AB (RISAB). Specifically, RISAB's ongoing debt financing dialogue with the European Investment Bank (EIB) has passed the proposal for funding consideration stage and has now entered into a formal appraisal stage of diligence by the EIB. Neometals is a 50% shareholder in RISAB which is evaluating the feasibility of constructing a facility to process and recover high-grade V2O5 from vanadium-bearing steel making by-product generated by SSAB EMEA AB and SSAB Europe Oy in Scandinavia.
R&Q Insurance Holdings 76p £284.7m (RQIH.L)
The leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, announces the completion of the sale of its 40% minority holding in the New York-based Managing General Agent TPM Holdings USA, LLC (Tradesman).
Tekcapital 15.75p £26.0m (TEK.L)
The UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people's lives, provides a progress report on Guident Ltd. Guident is developing remote monitoring and control software to improve safety of autonomous vehicles and land-based delivery devices. The software will incorporate artificial intelligence and advanced network technologies to minimize signal latency and help improve the safety of autonomous vehicles. Guident will shortly deploy its RMCC service for the Jacksonville Transportation Authority.
Verditek 0.85p £3.8m (VDTK.L)
A holding company of a business operating within the green technology sector and focused on commercialising lightweight low-profile solar panel business announces that it has signed an exclusive supply agreement with Lindab Profil AB a Swedish company engaged in the development, manufacture and sale of building products for 3 years. The agreement has no minimum purchasing obligations and no guarantee that Lindab will place any orders; however, Verditek has already supplied over EUR100k worth of panels to Lindab. Verditek have granted Lindab exclusivity in Nordic and Eastern European countries.
Wildcat Petroleum 1.1p £26.7m (WCAT.L)
A company targeting investment opportunities in businesses and assets within the upstream sector of the petroleum industry, announces its interim results for the six-month period ended 31 December 2022. In October 2022, the Company signed a MoU over four oil blocks with the Sudanese government. It is the Company's main aim in 2023 to sign a production sharing agreement (PSA) over at least one of these four blocks. The company raised £225.5k at a price of 1.25p per share in the same month. Waterford Finance & Investment Ltd took a nominal stake in Wildcat (£50k) and the owner of the fund Mr Mikhail Kroupeev joined Wildcat as a strategic advisor.
Yourgene Health 0.29p £9.4m (YGEN.L)
A leading international molecular diagnostic group, announces that Barry Hextall, Chief Financial Officer, will step down from his role as a director with immediate effect. Barry will remain as Company Secretary until a full-time successor is appointed. Peter Charles, an experienced Interim CFO with broad cross sector experience, will take on the CFO role on a short-term basis, in a non-Board capacity.
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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.
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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.
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