Small Cap Feast

26th September 2023

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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.

26 September 2023
*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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