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 personalised 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. 88.6% of the total issued shares will be floated. Admission is delayed.
Anglo Asian Mining 93p £106.2m (AAZ.L)
The gold, copper and silver producer primarily focused in Azerbaijan, announces its production guidance for 2023 (FY 2023): between 50,000 and 54,000 gold equivalent ounces comprising 4,100 to 4,300 tonnes of copper and 30,000 to 32,000 ounces of gold. 2023 is a pivotal year as Anglo Asian begins its transition to achieve significant copper production with the opening of its new Gilar and Zafar mines and the delivery of the increased capacity of its flotation plant. Copper production is forecast to increase by 63 to 71%. and gold production to decrease by 26 to 30%. This is in accordance with the Company's growing focus on copper, capitalising on the global decarbonisation agenda.
CAP-XX 3.05p £15.6m (CPX.L)
The manufacturer of ultra-thin prismatic, cylindrical, and Lithium-Ion supercapacitors, announces that it has secured supercapacitor-expert CAPCOMP GmbH as a manufacturer's representative and distributor for its full line of high-performance Supercaps in the DACH region (Germany, Austria and Switzerland). CAPCOMP specialises in supercapacitors for automotive and industrial markets including for power electronics and energy storage, supporting the design of supercapacitor-based system solutions.
Driver Group 31p £16.2m (DRV.L)
The global professional services consultancy to construction and engineering industries, announces its results for the financial year ended 30 September 2022. Revenue decreased by 4% to £46.9m (2021: £48.8m) and underlying loss before tax was £1.0m (2021: profit £2.0m). Post period end, Q1 revenue increased by 5% to £11.8m and operating profit of £0.25m. Net cash was £4.7m as at 31 January 2023. Utilisation increased to 70% (2022: 67.5%). Overhead reduction implemented, with further savings in progress. The Board expects to return to profitability for FY23.
Gulf Investment Fund US$1.87 $76.7m (GIF.L)
The fund investing in the Gulf Cooperation Council region announced its interim results for the six months ended 31 December 2022. Net asset value per share was US$1.9885, down 1.83% vs benchmark fall of 7.09%. Final dividend of 3.51c to be paid on 17 March 2023. Compared to the benchmark, GIF is overweight in Qatar and underweight on Saudi Arabia, UAE, Kuwait and Oman. The fund's cash weighting was 6.1% on 31 December 2022. Going into 2023, management believes that the Gulf region will be supported by socio-economic reforms, infrastructure projects, and favourable oil supply-demand dynamics.
Helium One Global 5.3p £43.5m (HE1.L)
The primary helium explorer in Tanzania, announces that, further to the announcement made by Noble Helium (ASX:NHE) (Nobel), the Company has entered into a co-operation agreement with Noble for sourcing and securing a suitable drilling rig, associated services and arranging logistics as required for the Company's proposed drilling campaign. This agreement is not expected to impact the proposed drilling timeline as outlined in the Company's AGM last week. Meanwhile, the board have resolved to issue 8m options in aggregate for ordinary shares: 5m to Lorna Blaisse the new Executive Director and 3mto Kai Gruschwitz, the new Technical Director. The options will vest in three equal tranches over the next 3 years and are exercisable at 6.25p per share.
Igas Energy 20.73p £26.3m (IGAS.L)
The independent oil and gas exploration and production company issues a trading update in advance of the full-year 2022 results to be released on 30 March 2023. Net production averaged 1,898 boepd for the year, due to equipment failure in the first half of 2022. Underlying operating costs for the year were c.$41/boe (at an average 2022 exchange rate of £1:$1.24). Cash balances as at 31 December 2022 were £3.1m, with net debt of £6.1m. For 2023, management anticipates net production of c.2,000 boepd and operating costs of c.$41/boe (assuming an exchange rate of £1:$1.25).
Made Tech Group 35p £52.3m (MTEC.L)
The provider of digital, data and technology services to the UK public sector, announces its unaudited results for the six months ended 30 November 2022 (H1 FY23). Revenue was 20.6%, an increase of 76% year-on-year. Gross profit was £6.8m, up 48% year-on-year. Adjusted EBITDA declined by 58% to £0.5m. Given the new contract bookings of £29m so far in Q3 over 5 years, including the three substantial new contract wins announced earlier this month, the Group remains on track to achieve FY23 results in line with market expectations.
R&Q Insurance Holdings 81.8p £303.8m (RQIH.L)
The non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, provides a trading update for the year ended 31 December 2022: Program Fee Income $80m, a 78% increase. Meanwhile, R&Q has agreed to sell its 40% stake in the New York-based Managing General Agent TPM Holdings USA, LLC, (Tradesman) for $47m to Roosevelt Road Capital Partners, the controlling 60% shareholder of Tradesman. Approximately $41m the consideration will be paid in cash upfront and the remaining $6m will be paid in the form of a 2-year promissory note. R&Q will use the proceeds for general corporate purposes and to pay down debt.
System1 Group 180p £22.8m (SYS1.L)
The marketing and brand consultancy issues a trading update on the quarter ended 31 December 2022 (Q3). Data revenue grew 18% on the comparable period to £3.4m, a quarterly record, representing 55% of Q3 revenue. Year-to-date Data revenue increased by 31% on the comparable period to £9.6m. As expected, the reduction in consultancy revenue narrowed from 46% in H1 to 21% in Q3 on the comparable period. Consequently, total Q3 revenue declined 4% on the comparable period last year to £6.2m from £6.5m (H1: -15%, YTD -12%).
Tracsis 950p £283.6m (TRCS.L)
The provider of software, hardware, data analytics/GIS and services for the rail, traffic data and wider transport industries, provides a trading update for the six months ended 31 January 2023 (H1 2023). Trading has been in line with the Board's expectations. Revenue is expected to have exceeded £39m, up 33% (H1 2022: £29.2m), with growth in both divisions: Rail Technology & Services Division and Data, Analytics, Consultancy and Events Division. EBITDA is expected to have increased by more than 20% (H1 2022: £6.2m). Cash balances remain strong at c.£17m (FY 2022 £17.2m).
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”.
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@chrish351.sg-host.com with “unsubscribe me”.