Kitchen is empty currently.
Cambridge Cognition Holdings 75.5p £26.3m (COG.L)
The company that develops and markets digital solutions to assess brain health, announces that the Company has obtained a £3.0m loan from Claret European Specialty Lending Company III, S.à r.l. (Claret). The Loan proceeds will provide the Group with additional working capital and enable investment in product development and solution integration. The Loan will be drawn down in full immediately, has a fixed interest rate of 11.5% per annum and a term of 36 months. The Company will issue Claret with warrants to subscribe for £540k of new ordinary shares of 1 pence each.
Diaceutics 105p £88.7m (DXRX.L)
A technology and solutions provider to the pharmaceutical industry, announces its unaudited half year results for the six months ended 30 June 2023. Revenue for the six months to 30 June 2023 increased 32% to £9.9m (H1 2022: £7.5m), as a result gross profit increased 38% to £8.7m (H1 2022: 6.3m). EBITDA loss of £0.2m in line with the investment strategy announced in January 2023. The Company holds cash at 30 June 2023 of £17.9m (31 December 2022: £19.8m ). Four enterprise-wide engagements were secured by 30 June 2023 with a total contract value of $20.1m and trading is in line with management expectations.
eEnergy Group 5.75p £20.2m (EAAS.L)
The net zero energy services provider, announces that is has secured a contract to provide onsite solar energy generation to its existing customer, Tudor Grange Academies Trust (TGAT). The total contract value is £3.0m, resulting in £1.9m revenues to eEnergy which will be recognised across FY23 and FY24. eEnergy is providing TGAT with a fully funded 10-year service agreement, a financed solution which requires no upfront investment for the customer and marks the latest stage in a successful ongoing Net Zero partnership with TGAT.
EQTEC 0.07p £8.1m (EQT.L)
A technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation announces that EQTEC France SAS and its partners have completed a technical and commercial feasibility toward deployment of EQTEC solutions at the site of the former Gardanne power station. The Group expects initial front-end engineering design work to commence in the coming weeks, for which it expects to bill c.EUR250k.
Journeo 234p £37.9m (JNEO.L)
A provider of information systems and technical services to transport operators and local authorities, announces its interim results for the six months ended 30 June 2023 (H1 2023). Group revenue grew by 146% to £21.8m (H1 2022: £8.9m), with Infotec revenue contributing £9.3m since its acquisition in January 2023. Group gross profit increased 77% to £6.4m (H1 2022: £3.3m) and holds cash and cash equivalents at period end of £11.3m of which £3.5m was customer payments in advance. The Group’s order book at 30 June 2023 stands at £27m and a further £55m in contract awards. The Group are confident in meeting financial targets for the year end.
Oxford BioDynamics 19.68p £39.8m (OBD.L)
A biotechnology company developing precision medicine tests based on the EpiSwitch® 3D genomics platform, announces that validation of its EpiSwitch Prostate Screening (PSE) test in its US clinical (CLIA-certified) laboratory is now complete and ahead of schedule. The current blood screening test, the PSA test, is only 55% accurate, and is considered an unreliable test by many doctors, including the NHS in the UK. The PSE test is designed to run alongside a standard PSA test, and combines the PSA score to predict, with 94% accuracy, the presence (or absence) of prostate cancer. The PSE test will be immediately available to men in the UK using the US testing facility to process results initially.
Petards Group* 6.25p £3.5m (PEG.L)
The developer of advanced security and surveillance systems, reports its interim results for the six months ended 30 June 2023. Revenue stood at £4.4m (H1 2022: £5.5m), as a result adjusted EBITDA decreased to a loss of £59k (H1 2022: £606k profit). The Company’s post tax loss was £301k (H1 2022: £101k profit) and holds net funds at 30 June 2023 of £1.7m. The Company announced recent new product launches with first orders received which incorporate AI and data solutions with increased functionality. The Company’s order book at 30 June 2023 is £4m (31 December 2022: £4m).
Quartix Holdings 200p £96.8m (QTX.L)
A supplier of subscription-based vehicle tracking systems, analytical software and services announces that Paul Boughton, Non-executive Chairman, has resigned from the Company's Board. Quartix also announces that the Company's Founder Andy Walters, has rejoined the board as Non-executive Chairman. The Board has concluded that it would be appropriate to appoint a further independent Non-Executive Director to the Board as soon as practicable.
Sabien Technology Group 8.25p £1.8m (SNT.L)
The company focused on a green aggregation strategy, announces that it has reviewed the value of its investment in Proton Technologies Canada Inc., following the proposed investment in and restructuring of Proton. On 14 October 2021, Sabien invested £100k in Proton, subsequently, Sabien entered into a licensing agreement with Proton on 1 February 2022 allowing Sabien to deploy Proton's technology within the UK. Following a review of the Proposal from a third party to inject new capital ahead of approval by Proton shareholders, the Board of Sabien has concluded that the value of the Company's stake (£100k) may require a material impairment provision in the accounts for the financial year to 30 June 2023.
The Mission Group 41p £37.3m (TMG.L)
A group of digital marketing and communications agencies announces interim results for the six months ended 30 June 2023. Revenue increased by 11% to £41.8m (2022: £37.5m), and profit before tax of £0.1m (2022: £1.9m) a reduction of 95%. The Company holds net bank debt of £14.9m accounted by changes in Client prepayment behaviour. The Group concluded new business wins including UK Space Agency, Macmillan Coffee Morning, M1 Telecom, Goldman Sachs, Jägermeister and Worldpay. The Group expects majority of profits to be generated in the second half of the year and remain on track to deliver against Board expectations.
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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).
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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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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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