Ashoka WhiteOak Emerging Markets Trust Plc intends to join the Premium Segment of the London Stock Exchange. The Company is a new UK investment trust seeking to achieve long-term capital appreciation through investment primarily in quoted securities that provide exposure to global Emerging Markets and intends to raise £100m at 100p per ordinary share. Expected Admission 3 May 2023.
Drumz Plc is an investing company admitted to trading on AIM with an investment policy focused principally on acquiring investments in technology businesses based in Europe. Drumz currently has two investments, being a 25%. shareholding in Acuity Risk Management (ARM) and a 5.85% legacy shareholding in KCR Residential REIT plc (KCR). Admission to AIM is being sought as Drumz has conditionally agreed terms to acquire the remaining issued shares and to be issued shares in ARM for a total consideration of approximately £3.6m. Drumz plc will be renamed Acuity RM Group plc post Admission. The Company intends to raise £1.45m on Admission and will have a market capitalisation of £5.4m. Expected Admission 25th April 2023.
Vinanz Limited intends to join the Access Segment of the AQSE Growth Market. Vinanz Limited aims to build out a fullyfledged Bitcoin mining company initially focusing on installing clusters of Bitcoin miners in multiple decentralised data facilities throughout the US and Canada through third-party cryptocurrency mining providers such as Compass Mining. Whilst the Company will focus initially on BTC mining, it will also consider mining of other cryptocurrencies, and operations in the DeFi and Big Data space in the future. Expected Admission 21 April 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
CloudCoCo Group 1.05p £7.4m (CLCO.L)
The UK provider of Managed IT services and communications solutions provides a operational update. (1) More than 15,000 products added to the MoreCoCo website: The Group announces its partnership with a global leader in the purchase, restoration and sale of IT hardware. The strategic partner's refurbished products will be available on the MoreCoCo site with three-year warranties. (2) CloudCoCo announces the launch of a dedicated and agnostic multi-cloud division. (3) Strategic partnerships with Abstract Tech and Ingram Micro: Abstract Tech is a Leeds-based consultancy. Through this partnership, CloudCoCo will be able to tap into the expertise of Abstract's 150 employees for advanced multi-cloud projects. Ingram Micro is the world's largest B2B provider of technology product and supply chain management services. CloudCoCo will migrate its cloud business to Ingram Micro Cloud Marketplace to offer leading-edge cloud solutions, such as Microsoft Azure, AWS and Google GCP. This strategic partnership allows CloudCoCo's multi cloud practice to leverage Ingram's hundreds of in-built cloud providers through a simplified single portal. (4) CloudCoCo announces its platinum sponsorship of the first ever Silicon Yorkshire Expo, scheduled to take place at the Everyman Cinema in Leeds on 19 April 2023.
Crossword Cybersecurity* 8.25p £7.7m (CCS.L)
The cybersecurity solutions company focused on cyber strategy and risk, announces that two UK universities have gone live with its third party supply chain assurance platform Rizikon Assurance. The contract win follows on from Crossword's attendance at the UK's UCISA (Universities and Colleges Information Systems Association) national conference earlier this month. UCISA is the professional body for digital practitioners in Education. They represent almost all the major UK universities and higher education colleges with a growing membership among other educational institutions and commercial organisations interested in information systems and technology in UK education. Crossword is a UCISA member.
FireAngel SafetyTech 10.5p £19.0m (FA..L)
The developer and supplier of home safety products announces two three-party delivery and production agreements with long-term manufacturing partner and Techem Energy Services GmbH (Techem). The total income opportunity for FireAngel has grown significantly to an aggregate of up to c.$7.50 per alarm (comprising fees, royalties, and purchase price of the Company's own CO sensor). Increased development and manufacturing set up fees of up to £650k will be received by the Company. Shipments of the new alarm is expected to start in 2024 with production volume building in 2025.
Harvest Minerals 5.75p £10.7m (HMI.L)
The fertiliser producer provides an update on Q1 2023 sales of its organic, multi-nutrient, direct application fertiliser, KP Fértil®, from its 100% owned Arapua Fertiliser Project in Brazil (Arapua). Sales orders received total 16,755 tonnes versus budget of 12,000 tonnes. Sales orders invoiced and delivered total 3,560 tonnes. The start to 2023 is consistent notably slower year-on-year, as the concerns over the situation in the Ukraine accelerated buying decisions. However, the Company continues to grow customer base and order book. As such, the Company believes it is on track to achieve its 2023 year-end invoiced sales target of 200,000 tonnes of KP Fértil®, a 33% increase over 2022.
Induction Healthcare 22.5p £20.8m (INHC.L)
The digital health platform driving transformation of healthcare systems, provides a trading update. Revenues from contracts for the year to 31 March 2023 (FY23) are expected to be £13.6m, up 11.8% on prior year . FY23 is the first year the Group has benefited from a full year of revenues from its Attend Anywhere acquisition (2022 £7.9m). Net cash was £4.2m (2022: £7.5m). With its monthly cost base down by over 30% as at 31 March 2023, the Company is pleased with the progress towards the objective of self-sustaining growth and cash flow breakeven in 2024.
Kromek Group 6.35p £27.4m (KMK.L)
The developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announce that it has entered into an initial seven-year agreement with a Tier 1 OEM to develop CZT-based detectors for use in the customer's advanced medical imaging scanners. The two companies will work together to integrate Kromek's CZT-based detectors into the customer's medical imaging scanners. Following a short development phase, the agreement will transition into a longer commercial supply phase.
LifeSafe Holdings 33.5p £7.4m (LIFS.L)
The fire safety technology business with innovative fire extinguishing fluids and fire safety products, reports its audited results for the year ended 31 December 2022. Revenue was up 497% to £4.0m (2021: £670k), exceeding previous market expectations. Gross profit was £2.3m, at 57.0% margin. Loss from operations was £2.8m (2021: loss of £1.5m). Net cash at 31 December 2022 was £1.1m. The Company is seeing solid start to 2023, with sales over four times those of the first two months of 2022 and gross margin ahead of last year by almost 4%.
Oriole Resources 0.17p £4.6m (ORR.L)
The exploration company focused on West Africa announces that it has received a rebate totalling 157k from HMRC in R&D tax relief in respect of geoscientific advances sought by the Company through its exploration programmes. The claim is for the year ended 31 December 2022. CFO Bob Smeeton said: "The 2022 exploration work programmes in Cameroon continued to deliver exciting results, with a fourth drill programme at Bibemi leading to the definition of a JORC-compliant Inferred Resource, and excellent results from the early-stage work on the Central Licence Package, including the detection of anomalous lithium. We are delighted to have received further support for our research work from HMRC."
Volex 244p £388.2m (VLX.L)
The specialist integrated manufacturer of critical power and data transmission products, issues a trading update for the year ended 2 April 2023 (FY23). Revenue is expected to be at least $710m, representing an increase of at least 15.5% compared with the prior year. Underlying operating profit is expected to be at least $66m, at least 17.4% higher year-on-year. Both revenue and underlying operating profit are ahead of market expectations. An increase in gross margins and continued cost control improvements is expected to deliver a strengthening in underlying operating margins to 9.3% (FY2022: 9.1%). The Group has an active acquisition pipeline to help achieve its target of growing revenues to $1.2bn by the end of FY27.
Xeros Technology Group 3.8p £5.7m (XSG.L)
The creator of technologies that reduce the impact of clothing on the planet, publishes its audited results for the year ended 31 December 2022. Revenue was £0.2m (2021: £0.5m). Adjusted EBITDA loss was £7.4m (2021: loss £6.3m). Cash at 31 March 2023 was £4.5m. With the implementation of a licensing model, the revenue mix is changing with revenue now derived from three principal sources: servicing, licensing and sale of goods. Delays in domestic Care launch affect forward looking revenue mix across 2023 and 2024, with revenue lower than previously forecast.
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@chrish351.sg-host.com with “unsubscribe me”.
