Inteliqo Limited, intends to join the Aquis Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners under long-term distribution agreements. The Company has agreed its first such agreement in respect of the Ipedia iQ product range. The iQ product is a smart translation earphone (earbuds) system which offers integrated real time speech translation in 42 languages, built in smart assist (google and siri), multiple built-in microphones and high-definition sound. Expected 5 August.
Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports to over 40 countries and is a key supplier to almost every leading fibre optic cable manufacturer worldwide and is the industry’s only organisation with multiple manufacturing facilities spread across 3 continents. The Company acts as the holding company for its wholly-owned operating subsidiary, Unitape Limited and its 60% owned operating subsidiary, Unigel (UK) Limited. Expected 1 August.
Equipmake Holdings intends to join the Aquis Growth Market. Equipmake is a UK-based technology company, which has developed a range of electrification products for the provision of electric vehicle drivetrains to meet the needs of the automotive, aerospace and other sectors in support of the transition from fossil-fuelled to zero emission powertrains. The Company now has a significant pipeline of opportunities of in excess of £400m at various stages of negotiation, as demand for electric vehicles increases as part of the global decarbonisation movement. Expected 29 July.
Georgina Energy, an early-stage resource company with a strategy of actively pursuing the exploration, commercial development and monetisation of helium, hydrogen and hydrocarbon interests located in the Amadeus and Officer Basins in Northern and Western Australia intends to join AIM. Georgina Energy has two principal onshore interests. The first, the Mount Winter Prospect is located in the Amadeus Basin in Northern Australia, which the Company has a right to earn an initial 75% interest. The second interest, the Hussar Prospect is 100% owned by the Company and is located in the Officer Basin in Western Australia. Expected late July.
Macaulay Capital is due to join the Aquis Growth Market on 29 July. The Group was formed to originate and manage corporate transactions, raise funds from third parties, invest the Group’s own funds alongside those of external investors and to manage the Group’s investment portfolio with the aim of maximising its value.
Ariana Resources 3.1p £35.4m (AAU.L)
The mineral exploration and development company with gold mining interests in Europe, announces the grant of a further exploration license in Kosovo to Western Tethyan Resources Ltd (WTR), which is 75% owned by Ariana. WTR has three other license applications in Kosovo currently awaiting final approval from the Independent Commission for Mines and Minerals (ICMM). Management indicates that the addition of the polymetallic Hertica Project to the WTR portfolio is important to the development of its pipeline in Kosovo through partnership with Newmont Corporation.
Brighton Pier Group 86.5p £32.3m (PIER.L)
The diversified UK-based leisure and entertainment business announces its trading update for the 52-week period ended 26 June 2022 (FY2022). Unaudited sales were £40.1m, up 196% from FY2021 and 25% from FY19, the last full year of uninterrupted trading prior to the pandemic. Sales above the £40m mark is a record result for the company, benefiting both from pent-up demand and from hospitality-targeted government recovery packages. The company repaid £7.7m of debt (37% of borrowings) during its financial year.
Deltic Energy 3.0p £41.5m (DELT.L)
The oil and gas exploration business confirms the positive well investment decision with its JV partner Shell to drill the high impact Selene Gas Prospect on Licence P2347 in the Southern North Sea off the North East coast of England. Under the terms of the original farm-out with Shell, Deltic holds a 50% working interest in the Licence but will be carried for 75% of the costs of drilling and testing the well on the Selene prospect, up to $25m and, as a result of the well investment decision, Shell will be appointed Operator of the Licence.
Destiny Pharma 37.5p £27.5m (DEST.L)
The clinical stage biotechnology company focused on novel products to prevent life-threatening infections, today announces publication of new data on NTCD-M3, its novel treatment for the prevention of C. difficile infection (CDI) recurrence, in the peer reviewed journal Public Library of Science One (PLOS ONE). The company is currently finalising preparations for the pivotal Phase 3 clinical trial of NTCD-M3 and seeking partners to help co-fund studies and commercialisation of this exciting biotherapeutic product. NTCD-M3 has previously reported very good Phase 2 clinical trial results.
Diaceutics 91.5p £77.3m (DXRX.L)
The diagnostic commercialisation company servicing the precision medicine market, announces the unaudited trading update for the six months ended 30 June 2022, with revenue and order book growth in line with the Board’s expectations. Revenue growth was approximately 25% to £7.5m (H1 2021: £6m), with more than 75% of revenues generated through its DXRX platform. Order book at 30 June 2022 was c. £10m, up 488% from £1.7m at 31 December 2021, with around 37% of the order book expected to be realised in H2 2022 and the remaining in 2023 and beyond.
Diurnal Group 10.9p £18.5m (DNL.L)
The specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, today provides an unaudited trading update for the year ended 30 June 2022. Product sales (including royalties) increased to £4.62m, up 104% year-over-year. Cash and cash equivalents as at 30 June 2022 were £16.49m (as at 31 December 2021: £24.36m). Management indicates that the revenues were in line with expectations, reflecting both continued growth in Alkindi® (hydrocortisone granules in capsules for opening) as well as the initial roll out of Efmody® (hydrocortisone modified-release hard capsules) primarily in Germany.
Dotdigital Group 97.1p £289.7m (DOTD.L)
The SaaS provider of omnichannel marketing automation and customer engagement services, announces its trading update for the year ended 30 June 2022 (FY22). Revenue was at the top end of the guidance and in line with market expectations, growing by c.8% to £62.8m (2021: £58.1m). Adjusted EBITDA and adjusted operating profit are both expected to be ahead of market expectations. Management is optimistic about achieving continued strong sales and profitability growth in FY23 and beyond.
Franchise Brands 150p £195m (FRAN.L)
The international multi-brand franchise business announces its unaudited results for the six months ended 30 June 2022: revenue up 60% to £44.5m ( H1 2021 : £27.8m) and adjusted EBITDA up 74% to £7.3m ( H1 2021 : £4.2m). The strong first half year and the optimism for the full-year performance gave the Board the confidence to declare a 50% increase in the interim dividend to 0.9p per share. Management is seeing continued momentum in the traditionally stronger second half of the year and expects to deliver a full year performance at the top end of market expectations.
Shoe Zone 195p £97.5m (SHOE.L)
The footwear retailer announces that since the publication of its trading update on 29 June 2022, trading has been stronger than expected due to higher demand for summer products, particularly in the last two weeks. The company has also continued to experience margin improvements as a result of good supply chain and cost management. As a result, the company now expects adjusted profit before tax for FY 2022 to be not less than £9.5m (excluding profit on the sale of freehold property and foreign exchange revaluations).
Tyman 267.3p £524.5m (TYMN.L)
The international supplier of engineered door and window components and access solutions to the construction industry, announces its half-year results ended 30 June 2022. Revenue was £360m, up 15% year-over-year, driven by pricing action. Operating profit increased by 5% to £40.8m. The company is focusing on taking market share and improving productivity and working capital management. Management expects the full-year adjusted operating profit to be in line with market expectations excluding the benefit of foreign exchange.
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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.
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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.
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