Small Cap Feast

22nd February 2024

Dish of the day
No Joiners today
Off the menu
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Dish Of The Day:


Admissions: 


Delistings:




Whats baking in the oven?

Potential Initial Public Offerings:

12 January: The London Tunnels PLC announces its intention to seek Admission to the Standard Segment of the Official List and to trading on the Main Market of the LSE. The Company plans to restore, adaptively reuse and bring back to life the Kingsway Exchange Tunnels in Central London, originally built in the early 1940’s, and designed to shelter people during the London Blitz. The Company has successfully raised approximately £10m from investors and aims to admit its Ordinary Shares at a price of £2.00 per share to the Main Market. The Company is expected to have a market capitalisation of approximately £123m on Admission. Delayed: Expected Admission was before the end of January 2024.


Reverse Takeovers:


Change of Market:


Banquet Buffet

Angus Energy 0.425p £17.6m (ANGS.L)
An independent onshore oil and gas development company focused on advancing its portfolio of licensed UK assets announces announce that it has signed definitive loan documentation which allows it to draw down in full on the £20m loan facility (Facility) with Trafigura. The existing senior debt of £4.56m will be transferred to Trafigura and the proceeds of the Facility will be applied to repay the bridge facility of £6m, and £1.75m of Forum Energy's deferred consideration from the sale of Saltfleetby Energy Limited's 49% interest in the Saltfleetby Field to Angus in 2022. The balance of funds will be used to pay legacy creditors and invest in wells and equipment to increase gas production.

Aptamer Group 0.75p £3.5m (APTA.L)
The developer of novel Optimer® binders to enable innovation in the life sciences industry, announces the second phase of its on-going partnership with Neuro-Bio, a therapeutic focus on neurodegenerative disease, to develop Optimer binders for a lateral flow test for the early diagnosis of Alzheimer's disease. This latest phase involves development of an additional Optimer binder against the innovative Neuro-Bio target implicated in Alzheimer's disease, with the goal of developing reagents for a lateral flow test for early disease detection.

Ariana Resources 1.7p £19.5m (AAU.L)
The mineral exploration and development company with gold mining interests in Europe, announces positive results from the Q4 2023 drilling programme at the Kizilcukur Project of the Kiziltepe Sector where 23.5% is owned by Ariana. Significant results of the drilling programme include: 1.9m @ 30.56g/t Au + 37.7g/t Ag, 17.2m @ 1.99g/t Au + 153.4g/t Ag, 2.9m @ 9.62g/t Au + 25.3g/t Ag. New drilling programme is planned for 2024 to test vein extensions and wider exploration in the Kizilcukur project area.

Bens Creek Group 5p £20.0m (BEN.L)
The owner of a metallurgical coal mine in North America supplying the steel industry, announces that Chris Walker has been appointed as Chief Executive Officer of Bens Creek Operations LLC (BC Operations), a wholly owned operating subsidiary of the Group. Chris will commence his employment with BC Operations on 6 March 2024. Following the appointment Adam Wilson will step down as CEO of BC Operations but will remain on the Board and CEO of the Group until Chris joins the Board as CEO of the Group. hris spent 14 years with Peabody Energy, Inc. in a variety of senior finance, strategy and marketing roles.

Mycelx Technologies 48p £11.0m (MYX.L)
The clean water and clean air technology company transforming the environmental impact of industry, announces the sale of its Saudi Arabia business operations, for an acquisition price of up to $7.125m (Total Consideration) to Twarid Water Treatment LLC (Twarid). The earn-out period of 24 months starts immediately, and is based on Twarid achieving revenue results similar to the Company's historic performance in the country. The assets being sold have a net book value of $2.1m, and the Saudi Arabian business contributed 64% of consolidated group gross profit for the year ended 2022. The sale allows the Company to continue to grow its proprietary media and product sales in Saudi Arabia.

Plant Health Care 3.8p £13.0m (PHC.L)
A provider of peptides used by growers to improve crop production and quality within global agriculture markets, announce registration of the fungicide, SAORI®, in Mexico for commercial launch. The Company will be launching SAORI at the end of Q3 of 2024 through its most important distributors for use by farmers growing berries, grapes, cucumbers, tomatoes and other solanaceous and cucurbitaceous crops in Mexico. In 2022, the plant-applied biopesticides market in Mexico, which includes both biofungicides and bioinsecticides, was estimated at $200m, growing at a CAGR of %14.3.

Powerhouse Energy Group 0.465p £19.4m (PHE.L)
A company pioneering integrated technology that converts non-recyclable waste into low carbon energy, announces the signing of an initial 5-year framework agreement (Agreement) with Australian based, National Hydrogen Ltd (National H2). Under the Agreement, Engsolve, now a wholly owned subsidiary of Powerhouse Energy Group, will undertake the Front-End Engineering Design (FEED) for the facilities, which would be fully funded by National H2. Powerhouse will not be required to contribute any capital for these projects. Instead, the collaboration will be based on a license fee and royalties model.

Tortilla Mexican Grill 39p £15.1m (MEX.L)
The UK's fast-casual Mexican restaurant brand, announces that the Board has been notified by Richard Morris of his intention, following a 35 year career in hospitality and 10 years with the Company, to step down from the Board and from his role of Chief Executive Officer at the end of March 2024. Andy Naylor, who has worked alongside Richard for the last seven years, initially as Chief Financial Officer, will succeed him as Chief Executive Officer. Richard and Andy will continue to work closely together in the month ahead to ensure a smooth transition.

Tracsis 900p £271.5m (TRCS.L)
A transport technology provider, provides the following trading update for the six months ended 31 January 2024. The Group expects H1 revenue to be in excess of £36.5m (H1 2023: £39.2m). Adjusted EBITDA margin is expected to be c16% (H1 2023: 19%). Cash balances remain strong at c.£16.8m (H1 2023: £17.0m; FY 2023: £15.3m). In the Rail Technology and Services Division, the Group estimates that its pipeline for major software opportunities across both the UK and North American markets has more than doubled during the six months ended 31 January 2024. The Board anticipates that FY24 performance will be in line with market expectations.

Windar Photonics 33p £22.7m (WPHO.L)
The technology group that has developed a LiDAR wind sensor announces that the company has launched a new and innovative software platform - Windar Nexus. Windar Nexus allows local end-user customers of WindEye Lidar to monitor their WindEye Lidar fleets without any need of modular connectivity to the centralized Windar Control Center located in Copenhagen, Denmark. The software suite constantly monitors and reports potential modifications to achieve accurate yaw optimisation of the individual wind turbine which, in turn, increases the annual power production.

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22 February 2024
*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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