Small Cap Feast

17th March 2023

Dish of the day
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Dish Of The Day:

Joiners: 
Essentially Group (AQSE: ESSN) has joined AQSE Growth Market.

Leavers:
Forbes Ventures has left the Access Segment of AQSE Growth Market.



What’s Cooking In The IPO Kitchen?

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.


Breakfast Buffet

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.

17 March 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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