Small Cap Feast

3rd April 2024

Dish of the day
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Dish Of The Day:



600 Group Plc (SIXH.L) has left AIM

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

Cleantech Lithium 14.75p £21.4m (CTL.L)
The exploration and development company advancing lithium projects in Chile, following a meeting with representatives of Chile´s Mining Ministry last week, will be resubmitting the applications for Special Lithium Operating Contracts (CEOLs) for Laguna Verde and Francisco Basin by updating them in line with the latest requirements. The resubmission process has no impact on the expected project timeline. This follows the Chilean Government outlining a new process for private companies to express interest to develop non-strategic salars for lithium production in Chile starting from April 2024.

Comptoir 6.75p £8.3m (COM.L)
The owner and/or operator of Lebanese, Middle Eastern and North African inspired restaurants announces the appointment of James Fisher as Finance Director. James, who joins from Wahaca, will start at Comptoir in Summer 2024 and will be appointed to the Board. James brings more than a decade of experience in senior financial roles across the consumer and hospitality sectors.

Corero Network Security 10.1p £51.4m (CNS.L)
The Company focusing on Distributed Denial of Service (DDoS) protection solutions, announces a contract renewal and expansion with a US Software-as-a-Service provider. The Contract, valued at over $2m over three years, enables Corero to expand the customer's existing DDoS protection infrastructure to support its continued international growth. The Company continue to explore new business and mandate expansion opportunities.

Croma Security Solutions Group 68.5p £9.4m (CSSG.L)
The innovation and service-focused security solutions provider announces the award of a new NHS Trust contract worth approximately £0.4m to be completed in the current financial year, ending 30 June 2024. The contract relates to the installation of new security systems across the hospitals. Croma already operates a number of other existing smaller security projects with the NHS Trust, and believes there is potential for further projects.

Crossword Cybersecurity* 4.25p £4.3m (CCS.L)
The cybersecurity solutions company focused on cyber strategy and risk, announces the appointment of Stuart Jubb to the board of the Company as executive director with immediate effect. Stuart joined Crossword in February 2016 to head up Crossword's newly established cybersecurity consulting division. From 1 January 2022, Stuart has been Group Managing Director of Crossword, with responsibility for Consulting, Sales and Managed Services, and in September 2023 also became responsible for Product.

Genedrive 5.25p £7.3m (GDR.L)
The point of care pharmacogenetic testing company, announces that the UK's National Institute for Health and Care Excellence (NICE) has recommended in draft guidance that the Genedrive® CYP2C19-ID test should be used as the point-of-care (POC) test of choice before clopidogrel administration in the management of Ischemic Stroke and Transient Ischaemic Attack patients. The decision was based on several differentiating features including; (1) its greater coverage of genetic variants, (2) no requirement for cold-chain storage logistics, (3) its ability to integrate with patient electronic healthcare systems.

Oxford Biodynamics 9.8p £19.8m (OBD.L)
The biotechnology company developing precision medicine tests based on the EpiSwitch® 3D genomics platform, announces the completion of the clinical validation of its EpiSwitch Prostate Screening (PSE) test at the Company's newly commissioned ISO15189 UK clinical laboratory. The launch will cut in half the turnaround time for any PSE tests ordered by UK physicians. OBD will soon begin validating its other marketed precision medicine clinical test, the EpiSwitch Checkpoint Inhibitor Response Test (CiRT) within this new UK facility.

Shearwater Group 43.5p £10.4m (SWG.L)
The cybersecurity, advisory and managed security services group, announces a trading update for the financial year ended 31 March 2024 (FY24). Revenue in FY24 is expected to be c.£22.5m (FY23: £26.7m), with adjusted EBITDA at just under £1m (FY23: £(0.2)m). The cash position at the financial year end wast £5m. The Group further announces post period that their first scheduled contract renewal is secured to a value of £1.4m and has been signed with a British media and telecommunications company. The Company is trading in line with expectations.

Spectra Systems Corporation 218p £104.6m (SPSY.L)
The company focusing in machine-readable high speed banknote authentication, brand protection technologies announces the world's first polymer banknote substrate that is part of a mass-balanced recycling supply chain certified by the International Sustainability and Carbon Certification (ISCC) PLUS process. The use of Certified-Circular Polymer based on advanced recycling of plastics, has many points of environmental impacts including using plastic waste as an alternative to fossil fuels and additional end of life options for plastic waste.

Trakm8 Holdings 8.75p £4.4m (TRAK.L)
The telematics and data insight provider provides the following update. Post period operational cash generation for the Period is expected to be £5.4m (FY-2023: £4.3m). In addition, cash on hand amounted to £1.4m (FY-2023: £1.1m) and net debt was £4.9m (FY-2023: £5.6m). The Group also has an unused overdraft facility of £0.5m. The Company further announces that, on 2 April 2024, the Group completed the purchase Intellectual Property from Action 365 Limited, under a software licence agreement, for a total consideration of £500k.

3 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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