Small Cap Feast

27th February 2024

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Banquet Buffet

Crossword Cybersecurity* 4.25p £4.0m (CCS.L)
The cybersecurity solutions company focused on cyber strategy and risk, announces the launch of Trillion HarVista. Part of the Trillion Threat Intelligence suite of products and services, Trillion HarVista enables security teams, for the first time, to be able to identify threats developing both from hacker discussions and shared compromised credential data all from a single interface, without the risk of searches on hostile websites. HarVista works by quietly making entire offline copies of forums and chats and stores them locally on the Company’s secure servers. The collection process also removes harmful content and attachments ensuring a completely safe browsing experience for organisations wanting to proactively defend against threat actors.

Fusion Antibodies 3.9p £2.4m (FAB.L)
The company focusing on pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announces it has received a first purchase order under the master services agreement (MSA) with a diagnostics company (Client). The first purchase order, valued at c. £60k, has been received for an initial project to generate antibodies specifically for the Client's use in diagnostic products. The majority of the revenue under the initial purchase order will be recognised in the next financial year, commencing 1 April 2024.

ITIM Group 37p £11.51m (ITIM.L)
The SaaS based technology company that enables store-based retailers to optimise their businesses announces the contract win of itim's Omni channel retail platform for QUIZ clothing, a fashion retailer specialising in occasion wear and dressy casual wear with 73 stores and 274 concessions in the UK. This is a five year multi-million-pound contract and a significant achievement for itim, as QUIZ is the first fashion retailer in its customer portfolio to implement the end-to-end retail platform as well as its new wholesale module. Itim’s Retail suite product is soon to be rebranded as UNIFY.

Maintel Holdings 235p £33.7m (MAI.L)
The provider of cloud, network and security managed communications services, announces that following the successful completion of the initial phases of the Company turnaround plan, Dan Davies has taken over as Interim CEO, while the Company accelerates its search for a permanent CEO. This allows Carol Thompson to focus on her Executive Chairman role. These changes are effective immediately. Dan has held a number of senior positions at Maintel since 2014, and has been Chief Technology Officer and Executive Director of the Maintel Holdings PLC Board since 2020.

Ocean Harvest Technology 12.5p £15.7m (OHT.L)
The researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry, announces that it has been granted a second patent, covering a wide range of claims about the benefits of using its OceanFeedTM product in the diets of a range of animals. The patent protects the claims: 1) of how OHT's product positively impacts the gut through its proven pre-biotic effect; and, 2) that this results in increased body weight and/or improved feed efficiency in a wide range of animals.

Oracle Power 0.025p £1.2m (ORCP.L)
The international project developer, together with its joint venture company, Oracle Energy Limited (Oracle Energy), announces commencement of the requisite Geotechnical Study and Electrical Resistivity Survey (ERS) in respect of the planned Renewable Power plant on the project site in Jhimpir, in the Sindh Province of Pakistan. The Geotechnical Study will encompass soil investigation and deploy rotary drilling to record rock quality designations and core recovery values. The Electrical Resistivity Survey will determine lithology, porosity and permeability from boreholes drilled.

Proton Motor Power Systems 3p £47.7m (PPS.L)
The designer and producer of hydrogen fuel cells and hydrogen fuel cell electric hybrid systems with a zero-carbon footprint, provides a trading update for the year ended 31 December 2023 (FY 2023). FY 2023 revenue was £2.1m (FY 2022: £2.1m), and a 40% increase in the value of system sales to £2.0m (2022 system sales: £1.4m). Total order intake of £2.5m (2022: £2.7m), of which 37.7% were repeat orders. In total, 42 fuel cell systems were delivered during the period (2022: 23 systems). The Company look forward into 2024.

Silver Bullet Data Services Group 180p £31.4m (SBDS.L)
The provider of digital transformation services and products, announces an extended contract with Mars Petcare US (Mars), which provides pet nutrition, health, and veterinary services as part of Mars, Incorporated. Silverbullet has extended its partnership with Mars for the third consecutive year, for a value of US$2.3m, from January to December 2024. The Company will be broadening its support to Mars across three primary workstreams, specifically dedicated to the implementation of AI driven first party customer data intelligence.

SkinBioTherapeutics 9.75p £18.6m (SBTX.L)
The life science company focused on skin health, announces that interim data from the AxisBiotix Acne food supplement consumer participant study indicates positive results for the lead formulation. The volunteer study, comprising 220 people, followed the same methodology to the AxisBiotix-Ps study, with the supplement containing the lead formulation, being supplied to participants in powder-form. The full study length is 56 days. The Company will continue the study to completion and the analysis and read-out of the final results is anticipated to occur before the end of Q1 2024.

Sondrel Holdings 10.75p £9.4m (SND.L)
A provider of ultra-complex chips for global technology brands, announces that it has won a new design and supply contract for video processing chips with a total estimated value of US$23m. The initial contract value is for over US$9m for the duration of the design and qualification phases and the work will be fully funded by the customer. The contract is expected to generate production revenue of US$14m, over 10 to 15 year production lifetime of the product. The Company also reports that it has received four new orders in 2024 year to date for its design consulting services, engaging with two existing customers and two new customers. These contracts will generate a combined revenue of US$0.9m in the current financial year.

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27 February 2024
*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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