Small Cap Feast

22nd September 2023

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

Joiners: 
No joiners today.

Leavers: 
No leavers today. 





What’s Cooking In The IPO Kitchen?

Kitchen is empty currently.


Breakfast Buffet


Asiamet Resources 1.1p £24.5m (ARS.L)
A copper producer focused on the development of a portfolio of large copper, copper-gold and polymetallic deposits in Indonesia, announces the appointment of Mr Matthew Doube as a Non-Executive Director and the retirement of Non-Executive Director, Mr Faldi Ismai. Mr Doube is a highly experienced senior executive with an extensive background in investment banking, corporate finance and strategy, including more than fifteen years in the metals and mining sector and was previously CFO for Gold project in Indonesia.

Comptoir Group 6.0p £7.4m (COM.L)
The owner and/or operator of Lebanese and Middle Eastern restaurants, announces its interim results for the six-month period ended 2 July 2023. Group revenue was £14.8m, an increase of 2.1% (H1 2022: £14.5m), gross profit remained consistent at £11.5m (H1 2022: £11.5m) and adjusted EBITDA was £1m, a decrease of 73.7% (H1 2022 restated: £3.8m). The Company held net cash of £5.7m at period end. The Company currently owns and operates 20 restaurants, with a further 6 franchise restaurants. Terms have been agreed for 2 new sites including a London flagship restaurant, opening in early 2024.

Journeo 204p £33.1m (JNEO.L)
A provider of information systems and technical services to transport operators and local authorities, announces it has received a £2m purchase order from a Northern Transport Partnership. The purchase order builds on previously announced orders for Journeo's Thin-Film Transistor (TFT) and Liquid Cystal Display (LCD) technologies. This purchase order is included in management's expectations of performance for FY23 and FY24.

Katoro Gold 0.075p £0.5m (KAT.L)
The strategic and precious minerals exploration and development company, announces its unaudited interim results for the six-month period ending 30 June 2023. The Company currently generates no revenue and had a net liability position of £303k and available cash reserves of £25.4k as at 30 June 2023 The Company's existing cash resources are expected to run out by approximately the end of September 2023 and therefore the Company is reliant on completing a fundraise by that date to fund its ongoing working capital. On 3 April 2023, the Company announced the successful conclusion of a fundraise through which an amount of £150k has been allocated towards working capital.

Kibo Energy* 0.055p £2.1m (KIBO.L)
The renewable energy-focused development company, announces that its UK-based multi-asset operator subsidiary Mast Energy Developments (MED), has extended the completion long-stop date for MED’s first definitive and binding Joint Venture Agreement. The revised completion date is now expected around mid-October 2023. This will allow for the JV investor consortium to complete the compulsory statutory process as set out in the announcement of 1 September 2023. Whilst disappointed at these ongoing delays in finalising completion of the investment into MED, the company remains in continuous dialogue with the investor consortium and continues to be assured by them of their commitment to make this investment and to complete the transaction as soon as possible.

Kodal Minerals 0.54p £91.9m (KOD.L)
The mineral exploration and development company focused on lithium and gold assets in West Africa, provides an update on its Bougouni Lithium Project in southern Mali (Project). As announced on 19 January 2023, the funding package agreed between the Company and Hainan comprises a US$100m investment to acquire 51% of the Bougouni project company. Kodal welcomed key Hainan representatives that will form part of the Le Mines de Lithium de Bougouni SA (LMLB) management for the development and operation of Bougouni. LMLB is held by Kodal Mining UK Limited, the Company's UK registered subsidiary formed to be the holder of the Mali lithium assets and further to the announcement on 16 December 2022, has formally submitted to the Direction Nationale de la Geologies et des Mines the Notification of the proposed mining phases to commence at Bougouni.

Mothercare 4.3p £24.2m (MTC.L)
The brand that connects with the parents of babies and children across multiple product categories, announces the results for the year to 25 March 2023. Net worldwide retail sales by franchise partners increased by 9% to £322.7m (2022: £297.1m excluding Russia, £385.3m including Russia). Adjusted EBITDA dropped 44% to £6.7m (2022: 12.0m) however ahead of expectations. Net borrowings were £12.4m (2022: 9.9m), up 25%. Gross cash was £7.1m against a £19.5m existing loan facility which is fully drawn across the year. The Company expects to complete a refinancing owing to increased interest rates and remains focused on delivering c.£10m operating profit.

OptiBiotix Health 27.25p £24.8m (OPTI.L)
A life sciences business developing compounds to tackle obesity, cholesterol, diabetes and skincare, announces that it has reached agreement to launch its own brands of SlimBiome®, GoFigure®, and Snacksmart® products online with Boots in Q1 2024 with a potential store launch in May 2024, subject to Boots instore category rebuild. OptiBiotix is now building a multichannel presence with major online and in store retailers both nationally and internationally.

Sutton Harbour Group 15.5p £20.1m (SUH.L)
The marine and waterfront regeneration specialist, has exchanged on the sale of an apartment for £475k in the Company's development under construction known as Harbour Arch Quay to Beinhaker Design Services Limited (BDSL). This transaction represents a related party transaction, as BDSL represents 56% of the holdings of FB Investors LLP, which holds a 75.38% holding in the Company. The Harbour Arch Quay development comprises 14 apartments consists of fourteen apartments. The Company has exchanged contracts on 13 including this latest one.

UK Oil & Gas Investments 0.037p £7.9m (UKOG.L)
The UK-based oil and gas exploration and production company announces that following the temporary suspension of Pinarova-1 testing operations, larger and more powerful 7-inch perforating guns, capable of fully penetrating Pinarova-1's 9⅝-inch casing and cement and available for import into Turkey, have now finally been sourced. The Company is working closely with the Pinarova-1 operator, Aladdin Middle East, to facilitate delivery to the site such that testing operations can recommence.

22 September 2023
*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