Small Cap Feast

21st June 2024

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


Dish Of The Day:


Admissions: 


Delistings: 

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

STAY INFORMED

Our daily digest of news from UK listed Small and Mid caps straight to your Inbox.

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”.

© Copyright 2024 - Hybridan | Website by Boxed Up Media
First Visit
bookcrossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram