Small Cap Feast

31th March 2023

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Dish Of The Day:

No joiners today.

Metal Tiger plc has left AIM 
7Digital Group plc has left AIM 
Applied Graphene Materials plc has left AIM.

What’s Cooking In The IPO Kitchen?

Beacon Energy plc, intends to join the AIM market. In accordance with the Company's strategy to focus on growth through acquisition or farm-in to oil and gas projects, the Company entered into the SPA with Tulip Oil Holdings B.V. In conjunction with the Acquisition, the Company has conditionally raised total gross proceeds of £6.04m and will be used to fund the drilling of the SCHB-2 development well onshore Germany and for working capital. Expected admission date is 11 April 2023.

Ocean Harvest Technology Group plc, a commercial scale producers of seaweed blend ingredients for the animal feed market intends to join AIM. The main country of operation is Vietnam where the Company's main production and processing facility is located. The Company is headquartered in Theale, UK with further operations in Galway, Ireland and Binh Duong Province, Vietnam. Expected Admission was on 29th March 2023 (appears delayed).

M7 Box+ REIT plc, a newly established, externally managed closed-ended investment company announces that it intends to join the Wholesale segment of IPSX. Upon Admission, the Company proposes to acquire a portfolio of seven let and operational e-warehouses from M7 Box+ II LP. As at 31 December 2022, the Property Portfolio was valued at £228.9m. Expected Admission April 2023.

Breakfast Buffet

Abingdon Health 5.5p £6.7m (ABDX.L)
A leading international lateral flow contract development and manufacturing organisation (CDMO) announces its unaudited interim results for the six months ended 31 December 2022. Revenue decreased 35% to £1.1m (H1 2022: £1.7m), gross margin increased a tiny amount to 25.9% (2022: 25.4%), reduction in adjusted EBITDA loss of £2.2m (H1 2022: loss of £4.8m) and the Company had £4.4m cash. The Company has successfully transitioned its activities away from COVID-19 and is now operating as a fully integrated CDMO maintaining its full focus on lateral flow testing and has signed two CDMO contracts post-period end. The Board is confident that second half revenues will be materially ahead of H1 2023.

Barkby Group 4.65p £6.7m (BARK.L)
A company focused on commercial property development and investment, alongside its pubs business, announces its interim results for the period ended 31 December 2022. Reported revenues of £3.4m (26 weeks to 30 December 2021: £3.3m), an EBITDA loss of £1.2m (2021: £1.0m profit) and a net loss of £2.0m (2021: £0.4m profit). Net cash available including undrawn facilities was £5.0m as at 31 March 2023. The Group is focused on scaling the Roadside pipeline and is in negotiations on a number of new Roadside developments and investments.

Cerillion £11.40 £336.5m (CER.L)
The billing, charging and customer relationship management software solutions provider announces it has signed a major new contract worth £10m with an existing telecommunications customer, which operates in EMEA (Europe, the Middle East and Africa). The new contract will support current consensus market forecasts. The new contract has a 10-year term, and the customer will be upgrading its core BSS platform to Cerillion 23.1 and joining Cerillion's Evergreen Software Programme, which enables customers to gain continuous access to Cerillion's latest product developments.

FireAngel Safety Technology Group 10p £18.1m (FA..L)
Europe's leading developers and suppliers of home safety products announces that it has signed a three-year contract with British Gas Services Limited (BGSL). The contract, is valued at an c.£6.0m over its three-year term, will build on FireAngel's existing ten-year relationship with BGSL. The previous relationship was based on a limited range of products and the contract was extended annually. The new contract includes the supply of a wider range of innovative smoke, heat and carbon monoxide battery and mains powered alarms, as well as FireAngel's Connected products for residential use.

Gfinity 0.11p £3.0m (GFIN.L)
A world-leading esports solutions provider announces its unaudited results for the six-month period ended 31 December 2022. Revenues of £4.1m (H1 FY22: £3.3m), representing a 26% increase, adjusted operating loss of £0.8m (H1 FY22: £0.4m) and period-end cash of £1.7m, supplemented by a post period end placing and subscription, raising a further £2.0m. Investment in development of Gfinity owned intellectual property: the proprietary Athlos Gaming Technology, resulted in an increase in adjusted operating expenditure to £2.7m in the period (FY22 H1: £2.4m). The company continues to engage actively with potential investors with regards to a direct investment in the Athlos product.

Goldplat 8.5p £14.3m (GDP.L)
The mining services group, with international gold recovery operations located in South Africa and Ghana, announces its unaudited interim results for the six months ended 31 December 2022 (H1 2022). Revenue decreased by 3% to £20.5m (H1 2021: £21.3m), operating profit of £2.8m (H1 2021: £3.3m), after the impact of the electricity cuts, by the electricity provider in South Africa, net profit was £1.7m (H1 2021: £2.07m) and cash balance remained at £2.8m (H1 2022: £3.89m). The Group continue investing into research and development to identify different processing methods and remains focused on sharing future cashflows with shareholders.

James Halstead 184.75p £799.6m (JHD.L)
The manufacturer and international distributor of commercial floor coverings announces its results for the six months ended 31 December 2022. Revenue increased 9% to £149.6m (2021: £136.7m), operating profit at £23.1m (2021: £25.5m), down 9%, and cash position of £44.3m (2021: £69.4m), mainly owing to increase in transportation, energy and raw materials costs. The board is confident of the progress into the new year with high demand for flooring projects globally.

LifeSafe Holdings 35.5p £7.8m (LIFS.L)
The fire safety technology business with innovative fire extinguishing fluid and fire safety products, reports that the Group has therefore entered into a non-revolving £250k finance facility. The facility does not bear interest but attracts a fee of £18.75k payable equally over the initial term. The facility is not currently being utilised but will enable the Group to meet that growing demand more effectively. The Group’s sales growth has continued to exceed the Board's expectations in the current financial year particularly in the US market.

Origin Enterprises 425c EUR463.1m (OGN.L)
The international Agronomy-Services group, providing specialist advice, inputs and digital solutions to promote sustainable land use, announces the acquisition of Neo Environmental Limited (Neo), a multi-disciplinary consultancy business that providing planning, environmental and technical advice across the UK & Ireland. The acquisition of Neo aligns with the Company’s strategy to broaden amenity, environmental and ecological portfolio and enhances the ability to deliver on the ambition of promoting sustainable land use.

The Parkmead Group 35.4p £38.7m (PMG.L)
The independent energy group focused on growth through gas, oil and renewable energy projects, reports its interim results for the six-month period ended 31 December 2022. Revenue increased by over 140% to £11.1m (2021: £4.6m), gross profit increased c.150% to £9.8m (2021: £3.8m), cash balances of £19.2m (2021: £24.1m) and total assets of £70.3m at (2021: £80.5m). LDS-01 and LDS-02 were drilled safely on time and under budget, including LDS-01 successfully encountered new commercial gas columns in the primary target horizons. The Board is confident that the Parkmead team is well positioned to drive the business forward.

31 March 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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