Small Cap Feast

2nd May 2024

Dish of the day
No Joiners today
Off the menu
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Dish Of The Day:



Smartspace Software (SMRT.L) has delisted from the AIM Market

Whats baking in the oven?

Potential Initial Public Offerings:

Reverse Takeovers:

16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radical Limited for a consideration of approximately £1.3m, payable by the issue of new ordinary shares in Electric Guitar. The Acquisition constitutes a reverse takeover under the Listing Rules and therefore shareholder approval for the Acquisition is being sought at a general meeting of Electric Guitar to be convened for 1 May 2024.

Change of Market:

8 April 2024: (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated proposition as a value alternative to full price specialist retailers. The Company is listed on the premium segment of the Main market of the London Stock Exchange. The Company has announced its intention to change to the AIM  market on 3 May 2024. Currently the market capitalisation of TheWorks is £16m.

2 May 2024: Alpha Group International (ALPH.L) provides information and services that enhances a corporation's ability to profitably operate in a global business environment, while protecting its employees and physical assets, and complying with complex government regulations. The Company has delisted from the AIM market following its transfer to the Main market.

Dual Listing :

Banquet Buffet

Accsys Technologies 57.6p £137.8m (AXS.L)

The fast-growing and purpose driven company that enhances the natural properties of wood to create high performance and sustainable building products announces a trading update of market forecasts for FY2024 financial year ended 31 March 2024. As a result of resilient trading in Q4 FY2024 and the cost saving initiatives implemented by management, Adjusted Group EBITDA is expected to be ahead of consensus expectations for FY2024. Furthermore, Accoya USA has begun commissioning on its newly constructed plant in Kingsport, Tennessee in line with the previously announced project plan and budget. The joint venture remains on track to begin commercial operations in mid-2024.  

Argentex Group 36.5p £41.3m (AGFX.L)

The provider of currency management and payment solutions to international institutions and corporates announces its final results for the year ended 31 December 2023. Group revenue decreased to £49.9m (2022: £50.4m) and operating profit decreased to £8.1m (2022: £11.3m). Furthermore, the net cash balance increased to £18.3m (2022: £16.2m). The Company also announced its intention to issue of up to 11,320,754 New Ordinary shares. The Fundraising will be conducted at a price of 45 pence per share.

Arkle Resources 0.0275p £1.3m (ARK.L)

The Irish Gold and Zinc resources discovery company announces that it has raised £270,000 through a placing of 108,000,000 new ordinary shares at a price of 0.25p per share. Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.35p for a period of two years. The net funds received from the Placing will be used for the recently announced Lithium exploration programme as well as for general corporate activities.

Atlantic Lithium 21.3p £138.4m (ALL.L)

The African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine announces that it has received approval from the Ghana Stock Exchange's Listing Committee and Ghana's Securities and Exchange Commission to list the Company's ordinary shares by introduction on the Main Market of the GSE. Admission of the Company's shares to trading on the GSE is expected to broaden the Company's investor base and increase the Company's visibility both within Ghana and globally.

Iofina 20p £38.4m (IOF.L)

The specialists in the exploration and production of iodine and manufacturers of specialty chemical products announces its audited full-year results for the 12 months to 31 December 2023. Revenue increased to $50.0m (2022: $42.2m) and profit before tax decreased to $8.3m (2022: $10.0m). Furthermore, cash balance increased 10% to $6.5m (2022: $5.9m). As we go into 2024, production of 123.7 MT of crystalline iodine in Q1 from Iofina's six IOsorb plants. The iodine global spot price started around the mid to upper sixties $ per kg and prices are expected to stay at these levels into the second half of 2024.

Ironveld 0.0675p £2.7m (IRON.L)

The owner of a High Purity Iron, Vanadium and Titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa announces the appointment of Kristoffer Andersson as Chief Executive Officer. Mr Andersson is a Swedish Economist with international executive level experience in both publicly quoted and private companies. He has an extensive global entrepreneurial background in corporate governance, marketing, finance, energy, renewable energies, mining and commodities.

Kinovo 49.5p £31.1m (KINO.L)

The specialist property services Group that delivers compliance and sustainability solutions announces that it expects its results for the continuing business in the year ended 31 March 2024 to be ahead of prior expectations. The Company expects to report revenues for FY24 of approximately £64m (FY23: £62.7m), reflecting a different revenue mix of projects contracted in the year. The adjusted EBITDA, for the continuing business, of £6.7m for FY24, 23% ahead of previous year (FY23: £5.5m). This performance reflects the successful implementation of Kinovo's growth strategy, centered around the three pillars of Regulation, Regeneration and Renewables.   

Kitwave Group 374.5p £262.6m (KITW.L)

The delivered wholesale business today announces a pre-close trading update for the six-month period ended 30 April 2024. The Board reports that the Group continues to trade in line with current market expectations for the full year ending 31 October 2024. This performance will reflect both continued organic growth and the benefit from acquisitions made over the past 18 months. Operating profit performance during the Period is expected to be slightly behind the prior year. This reflects lower levels of demand in the hospitality customer base of the higher margin Foodservice division, due to a historically high and sustained period of wet weather over recent months.

LifeSafe Holdings 12.5p £3.5m (LIFS.L)

The fire safety technology business with innovative fire extinguishing and prevention fluids and fire safety products announces the signing of a contract between LifeSafe and Trinity Fire & Security Systems Ltd for the supply of the Company's new range of fire extinguishers filled with Multi-Purpose Fluid. LifeSafe's Multi-Purpose Fluid is designed to tackle multiple fire types, including Lithium-ion battery fires. Under the terms of this contract, LifeSafe will supply Trinity Fire & Security with LifeSafe fire extinguishers filled with the Company's Multi-Purpose Fluid, on an exclusive basis in the UK. The contract is expected to generate sales of up to £1.3m over a three-year period.

NAHL Group 71.5p £33.5m (NAH.L)

The marketing and services business focused on the UK consumer legal market announces its audited results for the year ended 31 December 2023. Revenue increased 2% to £42.2m (2022: £41.4m) and profit before tax increased 14% to £0.65m (2022: £0.57m). Furthermore, the net cash increased 25% to £7.5m (2022: £6.0m) and net debt decreased 27% to £9.7m (2022:£13.3m). The Company remains on track to deliver against our strategy in both of our divisions in 2024.


2 May 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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