Small Cap Feast

21st June 2024

Dish of the day
No Joiners today
Off the menu
No leavers today

Dish Of The Day:



Chamberlin (CMH.L) has delisted from the AIM market.

Whats baking in the oven?

Potential**** Initial Public Offerings:

ITF announced:

19 June 2024: IntelliAM, an artificial intelligence company focused on the consumer goods industry, is preparing to list on the Aquis Exchange on 3 July. The Company is acquiring 53 Degrees North Engineering Limited, to become the Company’s Consultancy division, which provides a range of asset care consulting and management strategies for manufacturers, particularly in the fast-moving consumer goods (FMCG) sector. The Consultancy division has established relationships with some of the largest food and beverage companies in the world, with 5 out of the top 10 being existing customers. IntelliAM is a revenue generating and profitable company. The Company is looking to raise £5m to fund the Company’s expansion. The Freefloat will be 16.5% following Admission and Completion of the acquisition of 53 North.

Media speculation: (We remove rumours after 10 days of being on the menu)

19th June 2024: Pri0r1ty AI, a software company, pending regulatory clearance, is expecting to raise at least £600,000 in a public listing on the Aquis Exchange in early July to launch its product

Reverse Takeovers:

Change of Market:

Dual Listing :

Banquet Buffet

Andrada Mining 4.1p £64.8m (ATM.L)

The African technology metals mining Company with a portfolio of mining and exploration assets in Namibia provides an unaudited operational update for the quarter ended 31 May 2024. Management guidance on quarterly average costs was $28,774 which is within the guidance range. Unaudited cash balances on 31 May 2024 were $15.2m. There was a YoY increase in ore processed to 237,976 tonnes (Q1 FY2024: 217,189 tonnes), a YoY increase in tin concentrate production to 364 tonnes (Q1 FY2024: 359 tonnes) and a YoY increase in contained tin production to 223 tonnes (Q1 FY2024: 216 tonnes).

Angle 14p £44.7m (AGLL)

The liquid biopsy Company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology announces that, pursuant to the Open Offer announced on 5 June 2024, it raised gross proceeds of £0.5m at the Issue Price, which will be used to strengthen the Company's balance sheet. In aggregate, £9.3m of gross proceeds have been raised pursuant to the Placing, Subscription and Open Offer.

Braveheart Investment Group 4.7p £3.0m (BRH.L)

The strategic Investment Group announces its audited annual results for the financial year ended 31 March 2024. The loss per share was 11.38p per share (2023: 2.68p per share), the cash balance as at 31 March 2024 was £1.74m (2023: £0.93m) and there was a pre-tax loss of £8.19m (2023: profit £2.36m). The Board will continue to work with Paraytec and Kirkstall to help them make sales and attract buyers. It will continue to seek transformative investments in line with the investing strategy, rationalise costs and conserve its £1.74m cash reserve as of 31 March 2024.

JLEN Environmental Assets Group 87p £575.5m (JLEN.L)

The environmental infrastructure fund announces the Company's results for the year ended 31 March 2024. The NAV per share was 113.6p following payment of dividends to shareholders in line with targets. There have been strong annualised NAV total returns of 8.0% since IPO. The Company is on course to deliver a dividend of 7.57p in line with the annual target, representing a yield of 8.1% on the closing share price at 31 March 2024. Cash and cash equivalents increased t0 £271k (2023: £143k).

M&C Saatchi 195p £238.4m (SAA.L)

The creative solutions Company with specialist expertise and creativity in helping clients grow by maximising the reach and potential of their brands announces that, as part of a managed succession process, Simon Fuller will join the Company as Chief Financial Officer (CFO) and as a member of the Board on 1 July 2024. Bruce Marson, Chief Financial Officer, will step down from the Board on 30 June 2024 and will revert to the position of Deputy Chief Financial Officer. Simon is an experienced CFO, having held several executive and senior management roles across a range of UK listed companies. His former positions include CFO of Reach and McColl's Retail Group.

Marula Mining 7.75p £9.4m (AQSE: MARU)

An African focused mining and development Company provides an update on the current status of its spodumene sales. The Company confirms that initial sales of 500 tonnes of spodumene is proceeding, with its executive management team and consultants in South Africa currently finalising all the necessary and outstanding logistics and exports arrangements. The Company's executive team and advisors anticipate further sales of spodumene to proceed smoothly going forward into existing offtake agreement arrangements and into further sales arrangements into China. Sales of spodumene ore are expected to achieve the Company's minimum sales targets of 10,000 tonnes of spodumene ore for 2024.

Ondine Biomedical 8.25p £22.9m (OBI.L)

The Canadian life sciences Company pioneering light-activated antimicrobial treatments announces that its Steriwave nasal photodisinfection is now available through the NHS Supply Chain, making it significantly easier for NHS hospitals in England and Wales to purchase. Steriwave is a groundbreaking antimicrobial treatment that rapidly eliminates infection-causing pathogens without generating antimicrobial resistance (AMR). This innovative solution replaces the traditional antibiotic mupirocin, which is commonly used to decolonise the nose and help prevent healthcare-associated infections (HAIs) but has high rates of AMR and low patient compliance.

Pennant International Group 25p £10.6m (PEN.L)

The systems support and training solutions Company announces its Final Results for the Financial Year ended 31 December 2023. Revenue increased to £15.5m (2022: £13.7m), the loss before tax decreased to £0.4m (2022: loss £1.4m) and cash and cash equivalents was £1.1m (2022: £1.1m). Post Period-end, the Group started the year well. Despite delayed order conversion, as previously announced, the Group has observed a material increase in activity in key markets and is well placed to capitalise on this.

Strategic Minerals 0.15p £3.0m (SML.L)

The operating minerals Company announces its Final Results for the year ended 31 December 2023. Revenue decreased t0 $1.58m (2022: $2.45m), the loss before tax was $9.08m (2022: profit $0.37m) and the cash position on 31 December 2023 was $0.11m (2022: $0.34m). The Company continues to maintain controls on its overheads, is focused on restarting production at Leigh Creek in 2024, securing and expanding Cobre's profitable domestic sales and progressing the Redmoor Tin and Tungsten mine to a pre-feasibility stage.

Synectics 190p £33.8m (SNX.L)

The advanced security and surveillance systems announces that Jonathan (Jon) Kempster will be appointed as an Independent NED and Chair of the Audit Committee with effect from 1 July 2024. Jon has more than 20 years' experience as a public company director. He is currently a NED of AIM quoted Norman Broadbent plc, Serinus Energy plc, and a Director of Delta Pension Nominees Limited. Jon was previously a NED of DX (Group) plc.


21 June 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour


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