Small Cap Feast

2nd April 2024

Dish of the day
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Dish Of The Day:



Esken Limited (ESKN.L) has delisted from the Standard list of the Main market. 

Itsarm (ITS.L) has delisted from the AIM market.

Whats baking in the oven?

Potential Initial Public Offerings:

21 March 2024: Helix Exploration —The Company pursuing the exploration, commercial development and monetisation of a non-hydrocarbon associated helium rich gas structure in the Ingomar Dome located in central Montana, USA announces its intention to list its shares on AIM. Total capital to be raised on Admission of up to £7.5m. Expected Admission date of early April 2024.

18 March 2024: European Green Transition is developing a portfolio of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition announces its proposed Admission to trading on AIM and its successful placing and subscription at a price of 10p per Share with institutional and other investors. The Company has raised approx. £6.45m. Admission is proposed for 8 April.

Reverse Takeovers:

Change of Market:

Banquet Buffet

Capital Metals 4.35p £15m (CMET.L)
The mineral sands Company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka announces the appointment of Bruce Griffin as a Non-Executive Director, with immediate effect. Mr Griffin has been appointed further to the notification of 15 March 2024 in respect of the strategic acquisition by Sheffield Resources Limited of approximately a 10% stake in the Company. Mr Griffin is a nominee director of Sheffield.

Baron Oil 0.055p £14m (BOIL.L)
The Company announces that Andy Yeo has stepped down from the Board of Baron with effect from 1 April 2024. This follows on from the completion of the transition of responsibilities to Andy Butler as the Company's new Chief Executive Officer. The Company is making good progress with respect to the appointment of a new Non-Executive Chair and a further announcement will be made by the Company at the appropriate time.

DSW Capital 51p £11.2m (DSW.L)
The professional services licence network and owner of the Dow Schofield Watts brand announces that it has today appointed Peter Fendall to the Board as Chief Operating Officer. Pete joined DSW Capital in September 2021 to help facilitate the IPO and is currently the Business Development & Operations Director and Company Secretary. Pete will continue to oversee IT, Recruitment, Facilities Management, Compliance and People Development in his new role as COO, whilst also supporting on Marketing, Investor Relations and stakeholder engagement.

Filtronic 37.2p £80.8m (FTC.L)
The designer and manufacturer of products for the aerospace, defence, space and telecoms infrastructure markets announces that Richard Gibbs, the Company's Chief Executive Officer, has informed the Company of his decision to step down from executive responsibilities at the end of the current financial year. Richard will relinquish his role of CEO and board member with effect from 13 May 2024 but will continue to be available to support the growth ambitions of the Company until November 2024.

Gaming Realms 35.7p £105.2m (GMR.L)
The developer and licensor of mobile focused gaming content announces its annual results for the year ended 31 December 2023. Revenue increased 26% to £23.4m (2022: £18.7m), adjusted EBITDA increased 29% to £10.1m (2022: £7.8m) and the profit before tax for the year increased 47% to £5.2m (2022: £3.5m). Furthermore, the year-end cash balance increased to £7.5m (2022: £2.9m), with the Company remaining debt free. Looking forward, the Company is well placed to deliver further growth in new and existing markets. The launch in the regulated Portuguese market in Q3 2023 along with securing licenses for West Virginia and Greece, signifies the Company’s ongoing commitment to increasing distribution and market diversification.

Intercede 114.5p £66.7m (IGP.L)
The cybersecurity software Company specialising in digital identities today announces further contract and subscription renewals, in excess of $4m in value. Intercede confirms the following order with a large US Federal Government agency for MyID CMS, totalling $3.45m in annual subscription renewal on a longstanding existing project for the period from 1 April 2024 to 31 March 2025 and the pricing has been agreed for a base year (2024/2025) plus four incremental years. Secondly a significant MyID PSM subscription renewal and expansion for an NHS Trust, totalling £0.19m over three years commencing 1 April 2024, has been secured.

MTI Wireless Edge 46.5p £40.9m (MWE.L)
The technology Company focused on comprehensive communication and radio frequency solutions across multiple sectors announces that its antenna division has received a repeat order for the manufacture of military antennas totalling approximately US$1.2m to be delivered within six months.

Naked Wines 57.1p £42.3m (WINE.L)
The Company confirms the appointment of Rodrigo Maza as Group Chief Executive Officer effective from today, the first day of the Group's 2025 financial year and also announces the appointment of Paul Calandrella as General Manager, Naked Wines USA. Paul will join the Group from mid-April bringing two decades of experience in consumer-focused roles in both brand and retail, including at Amazon, REI and, most recently, a venture-backed, re-commerce startup.

Sareum Holdings * 11.75p £8.4m (SAR.L)
The Company announces that due to excess demand for the Company's shares through the WRAP Retail Offer (announced on 28 March 2024), the Company has elected to increase the size of the WRAP Retail Offer. The Company is delighted to be oversubscribed having crossed the original target of £300,000, and the Board has therefore decided to accept excess demand from shareholders up until the original deadline of 12pm today. The Company will provide another update in due course when the final demand has been received.

The Mission Group 21p £19.1m (TMG.L)
The digital marketing and communications Group Agencies announces its final results for the year ended 31 December 2023. Revenue increased to £86.3m (2022: £79.6m) and the reported loss before tax was £10.9m (2022: 3.7m profit). The outlook for 2024 trading has started well and in line with expectations.

2 April 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour


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