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..
Goldplat SHARES SUSPENDED (GDP.L)
The mining services group, with international gold recovery operations located in South Africa and Ghana, servicing the African and South American Mining Industry, announces an operational update for Q2. The two recovery operations continued to produce operating profit during Q2, albeit down 41% to £1.382m (Q2 2021: £2.356m). The Ghanaian operation continues to perform as a result of the steady supply of material and achieved an operating profit for Q2 of c.£1.026m (Q2 2021: £1.012m), however the South African operations have been impacted during the last two months of Q2 by electricity cuts in the country.
Harland & Wolff Group Holdings 15.4p £26.6m (HARL.L)
The UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management announces that it has secured six new contracts within the defence, cruise & ferry and commercial fabrication markets. These contracts are expected to be completed during the next 12-18 months and have an aggregate value in excess of £10m. The Board announced that the Company must continue to rely on securing and executing smaller projects across its yards to build on the experience and skills of the workforce.
Jade Road Investments* 1.25p £1.4m (JADE.L)
The London quoted global investment vehicle focused on providing shareholders with attractive uncorrelated, risk-adjusted long-term returns announces, following the Company's announcement on 31 January 2023, that it has launched its Equity Fundraise of US$1.75m at a price of £0.0075p per share. The Company reports that circa $183k in gross proceeds have been raised by Hybridan LLP on behalf of the Company, reducing the total fundraise amount to $1.567m by the underwriting investor Heirloom LLC. The completion of the fundraise will provide additional working capital, as well as for new investments in accordance with the revised investing policy which is focused on looking for investing opportunities producing income returns with a secondary focus on capital gains for its shareholders.
Keystone Law Group 530p £166.2m (KEYS.L)
The network and tech enabled challenger law firm announces the following trading update for the year ended 31 January 2023 (FY 2023). The Company has a total of 507 fee earners at the year end, despite the ongoing competitive nature of the legal recruitment market. The Board now expects both revenue and adjusted profit before tax for FY 2023 to be marginally ahead of current market expectations.
LungLife AI 100p £25.5m (LLAI.L)
A developer of clinical diagnostic solutions for lung cancer announces its audited preliminary results for the year ended 31 December 2022. The Company generated revenues of US$24k in the year (2021 US$195k) comprising wholly of royalty income from its sub licensee in China. The total loss for the year was US$7.6m, (FY2021: US$7.4m). EBITDA loss for 2022 excluding share-based payments was $6,841,000 (FY2021: c.US$5.4m). Cash and cash equivalents at the end of the year was US$3.088m (FY2021 - US$9.2m). The focus is the conclusion of the Group’s clinical validation study and, while optional, subsequent submission to FDA, and planning for the clinical utility study as part of the commercialisation pathway.
Proteome Sciences 4.72p £13.9m (PRM.L)
A specialist provider of contract proteomics services to enable drug discovery, development and biomarker identification provides an unaudited trading update for the financial year ended 31 December 2022. The Company expects to report a c.53% increase in Group revenues to c£7.8m (2021: £5.1m), with sales, royalties and milestones attributable to TMT®/ TMTpro™ reagents increased by 56% to c£5.0m (2021: £3.2m). The Company expects to report an increase in operating costs to c£5.9m in 2022 (2021: £4.7m). The Company expects an estimated EBITDA of c£2.0m (2021: £0.6m) for the year. The Board anticipates growth in TMT®/TMTpro™ and strong progress for proteomics biomarker services, with over £1.1m in purchase orders being carried forward into 2023.
Roquefort Therapeutics* 7p £9.0m (ROQ.L)
The biotech company focused on developing first in class medicines in the high value and high growth oncology market, announces that it has signed an exclusive licence and royalty agreement, for the field of medical diagnostics only, with a leading international diagnostics company, Randox Laboratories Ltd (Randox), in relation to its Midkine antibody portfolio (Randox Licence Agreement). Roquefort Therapeutics has granted an exclusive worldwide licence (excluding Japan,) for a period of ten years to utilise its Midkine antibodies in the field of medical diagnostics. Roquefort Therapeutics estimates that the total overall transaction value to the Company over the life of the agreement is in excess of £5m. This highly complementary and synergistic partnership with the UK’s leading diagnostics company, Randox, enables Roquefort Therapeutics to remain focused on developing first-in-class medicines.
Tekcapital 16.925p £25.5m (TEK.L)
The UK intellectual property investment group focused on creating valuable products announces that it has raised a total of £2.25m (c.US$ 2.7m) before expenses at a price of 16p per share. The net proceeds of the Placing will primarily be used to accelerate the growth of the Company's portfolio companies, specifically, £0.6m to build commercial inventory of MicroSalt Limited; £1m to purchase autonomous shuttles for Guident’s Remote Control Monitoring Centre; and the remainder of the funds will be used for working capital.
Ten Lifestyle Group 96.5p £80.9m (TENG.L)
The platform driving customer loyalty for global financial institutions and other premium brands announces that it has won a new mandate to launch a new digitally enabled concierge programme in the Americas to premium customers in the second half of calendar year 2023. A banking product on-sale with a corporate client in EMEA, that includes the Group’s digitally enabled concierge and lifestyle services, has proved popular with its customers, resulting in the corporate client agreeing to pay Ten more per member to further drive their customer loyalty objectives. These contract developments are incorporated within the Board's current expectations for the year.
Tristel 330p £155.9m (TSTL.L)
The manufacturer of infection prevention products utilising proprietary chlorine dioxide technology announces its interim results for the six months to 31 December 2022. The Group announced revenues up 16% to £17.5m (2021: £15.1m); overseas sales up 12% to £11.2m (2021: £10m); UK sales up 24% to £6.3m (2021: £5.1m); and reported EBITDA up at £3.9m (2021: £0.2m). The Group further reports it has no debt and cash reserves of £8.4m (2021: £8.8m) after paying dividends of £3.3m (2021: £1.9m). Tristel have launched Tristel Duo into the North American ultrasound and ophthalmology markets and the Group looks to the future with confidence.
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.
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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.
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.
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