Small Cap Feast

4th April 2024

Dish of the day
No Joiners today
Off the menu
No leavers today


Dish Of The Day:


Admissions: 


Delistings: 








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

Amaroq Minerals 76.7p £258.1m (AMRQ.L)
An independent mine development company with a land package of gold and strategic mineral assets in Southern Greenland, announces that the successful first underground mining blast at Nalunaq was initiated on Saturday, March 30, 2024 at the 720m level. The first underground blast, undertaken within trial mining activities, represents a key step towards full commissioning of the Nalunaq mine and unlocking the mine’s potential to fund exploration and drive growth across the Company’s portfolio in South Greenland.

Eco Animal Health Group 85p £57.6m (EAH.L)
A global animal health company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline, announces the disposal of ECOmectin® Horsepaste to ACME Drugs S.r.l in Italy (ACME), its long-term manufacturing partner, for a total consideration of EUR1.3m. EUR500k was paid on signature of the sale and purchase agreement and two further payments of EUR400k each on the date which is 18 months after completion and 36 months after completion. The revenue derived from this business in the year ending 31 March 2024 was £814k (2023 £988k).

Gelion 19p £25.8m (GELN.L)
The Anglo-Australian battery Company, announces an update on its Next Generation Lithium-Sulfur (Li-S) battery development. Gelion has achieved a high energy density milestone by fabricating a 395 Wh/kg lithium-sulfur 9.5 Ah pouch cell. This result represents a c.60% increase in the energy density (lower weight) compared with current lithium-ion batteries (approximately 250 Wh/kg). Gelion's ambition for its next generation platform is to unlock the potential of sulfur batteries for a wide range of global applications.

GetBusy 64p £32.4m (GETB.L)
A provider of productivity software for professional and financial services, announces the acquisition of SmartPath LLC, the pricing intelligence and revenue optimisation platform for the accounting industry. The consideration comprises an initial cash payment of US$250k and a further cash amount will be payable in 2027 subject to the level of Annual Recurring Revenue attributable to the SmartPath product at 31 December 2026 and provided Attributable ARR is $1m or higher. The acquisition includes all intellectual property and customer contracts.

Kore Potash 0.475p £19.6m (KP2.L)
The potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo, announces the appointment of Mr J. M. André (André) Baya as Chief Executive Officer effective from 15 April 2024. André has over 20 years of experience in the global mining and agriculture sectors and brings significant African experience including having held senior positions for groups with operations in the Republic of Congo.

Lords Trading Group 48p £79.7m (LORD.L)
A distributor of building materials in the UK, is pleased to announce that following a comprehensive formal search process, Stuart Kilpatrick has been appointed to succeed Chris Day as CFO. Stuart will join the Board of Lords as CFO in early July 2024. Stuart is a highly experienced CFO having led finance functions across a range of publicly listed companies.

LungLife AI 29p £8.9m (LLAI.L)
A developer of clinical diagnostic solutions for lung cancer, announces its audited preliminary results for the year ended 31 December 2023. Loss before tax of $5.41m (2022: $7.60m). Adjusted EBITDA loss of $5.19m (2022: $6.84m), and the Company held Cash as of 31 December 2023 of $2.83m (2022: $8.01m). In March 2024, the Company raised gross proceeds of $2.28m (GBP1.81m) from the issue of shares at 35 pence. The Company’s revised cash runway to April 2025 has required significant cost reductions, the largest being to headcount and salaries for the executive team.

Ondine Biomedical 8.875p £20.1m (OBI.L)
The Canadian life sciences company pioneering light-activated antimicrobial treatments, confirms that interest from hospitals in Canada has accelerated its opportunity to address the Intensive Care Unit (ICU) market. Treatment of patients in ICUs would expand Ondine's potential market opportunity and revenue potential. Daily nasal decolonisation with Ondine's new light-activated antimicrobial treatment, Steriwave®, which does not generate antimicrobial resistance (AMR), could help prevent these life-threatening infections.

Plant Health Care 3.83p £13.1m (PHC.L)
A provider of peptides used by growers to improve crop production and quality within global agriculture markets, announces COFEPRIS registration and pending commercial launch of the biological nematode control product PHC68949 in Mexico. PHC68949 is a novel product that amplifies a plant's natural defense pathways to provide protection within the rhizosphere to protect plant roots from parasitic nematodes, promoting crop yield and harvest quality. The Company plans a limited launch of PHC68949 in the second half of 2024, followed by a full commercial launch in 2025.

React Group 68p £14.2m (REAT.L)
The cleaning, hygiene, and decontamination company, announces that it has been awarded three material contracts totalling over £1.3m annually. All three contracts have been or are being mobilised during the month of April 2024. The contracts include the renewal and expansion of a Facilities Management (FM) soft services agreement with an NHS trust, a further two years with the UK operation of one of the world's largest FM companies and a new agreement to provide a single point of service delivery for emergency decontamination services.

4 April 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged

STAY INFORMED

Our daily digest of news from UK listed Small and Mid caps straight to your Inbox.

Disclaimer

This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to any such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific person or entity and is not a personal recommendation to any such person or entity. Recipients should reach an individual investment decision, based upon their respective financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, such information has not been independently verified and therefore it is not possible to confirm such information as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.

The content of this document includes market commentary and other information which we have prepared in relation to the company referred to in this document, which is our broking client. The provision of this document to you constitutes a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of Regulation 600/2014/EU (MIFID II Regulation).

Any and all opinions expressed are current as of the date appearing on this face of this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, constitutes non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook to reflect the requirements of the MIFID II Regulation and Directive 2014/65/EU (known as MIFID II)). The individuals who prepared this document may be interested in shares in the company concerned and/or other companies within its sector, may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as relevant persons). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.

Neither this document, nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.

Where possible this document is made available to all relevant recipients at the same time. Dissemination of research by Hybridan LLP is monitored to ensure that it is only provided to relevant persons. Research prepared by Hybridan LLP is not intended to be received and/or used by any person who is a retail client.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.

MIFID II status of Hybridan LLP research
The cost of production of our corporate research is met by retainers from our corporate broking clients. In addition, from time to time we issue further communications as market commentary (such as our daily newsletter, Small Cap Breakfast), which we consider to constitute a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of the MIFID II Regulation.

Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.

If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”.

© Copyright 2024 - Hybridan | Website by Boxed Up Media
First Visit
bookcrossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram