Altona Rare Earths, the AQSE listed mining exploration company focused on the evaluation, acquisition and development of Rare Earth Elements mining projects in Africa, intends to join the Main Market. Admission to trading of the Company’s Ordinary Shares on the AQSE Growth Market will be cancelled simultaneously with Admission. It is also proposed that on Admission, the Company will change its EPIC from AQSE:ANR to REE. The Company also seeks to raise funds to finance its current and future rare earths mining projects in Southern and Eastern Africa. Timing TBC
Bango 182.5p £138.8m (BGO.L)
The global platform for data-driven commerce, announces an agreement with McAfee Corp., a global leader in online protection. Under the agreement, McAfee has selected Bango e-distribution technology to expand its global user base through partnerships with service providers, who will bundle and resell McAfee subscriptions, helping protect more consumers around the globe. Service providers who will benefit from this agreement include telcos, banks, health care providers, insurance companies and retailers. Bango technology improves the time-to-market through partnerships and promotions of McAfee products, removing the complexity of launching across multiple diverse channels and markets. Bango e-distribution capability enables resellers to order and deliver digital licenses according to demand, along with offer targeting, entitlement management and end customer activation on behalf of the merchant. The Bango Platform also enables other digital merchants to get creative by bundling McAfee services with their products. Hardware and software product bundles are seeing increasing uptake as the combination creates a more complete package for consumers.
Conroy Gold 33.5p £13.2m (CGNR.L)
The gold exploration and development company focused on Ireland and Finland, announced the commencement of a drilling programme of c.3,000m on its Clontibret gold target in Ireland, in conjunction with its Joint Venture partner, Demir Export. The drilling programme commenced at the end of April in line with the details set out in the announcement made by the Company in March. The drilling programme is part of the EUR4.5m earn-in work programme of the first phase of the joint venture with Demir Export. The objective of the joint venture is to further explore and develop the new district scale gold trend which Conroy Gold has discovered along the Longford-Down Massif in Ireland. The initial c. 3,000m drill programme, consisting of eight drill holes, is focused on the Clontibret gold target. The programme has the objective of extending the eastern gold Lodes and the Stockwork gold mineralisation, both of which are open in all directions and to depth. 7 of the drill holes are step-out. 1 hole is targeting an up-dip gold mineralisation zone. All of the drill holes are planned to intersect the Stockwork. The drilling is projected to increase the Stockwork gold mineralisation to the northeast and also to extend the depth of the Stockwork. 3 of the drill holes are focused primarily on the eastern Lodes of the Clontibret gold resource, with a view to extending these Lodes to the north. The Board believe that these drill holes also have potential for the discovery of new Lodes. The drilling will step-out from the known gold mineralisation, in both the Stockwork and eastern Lodes in the deposit, which will further enhance the Company’s technical understanding of the Clontibret gold target.
Empyrean Energy 2.33p £15.5m (EME.L)
The oil and gas development company with interests in China, Indonesia and the United States, provides the an update on Block 29/11 offshore China. Empyrean is the operator of Block 29/11 in China and has a 100% working interest during the exploration phase. In the event of a commercial discovery, its partner CNOOC, may assume a 51% participating interest in the development and production phase. Based upon the preliminary assessments of the Jade well results and the ongoing agreement with its partner, China National Offshore Oil Company (CNOOC), to further cooperate with regards to follow up post well analysis, it is Empyrean’s current intention to proceed with the second phase of exploration at Block 29/11 and to participate in the drilling of the Topaz prospect. Jade Well results – Preliminary interpretation: The final log data confirmed several elements of the pre-drill prognosis; 292 metres of excellent quality reservoir was intersected; more than 2330 metres of regional marine clay seal formation; and validity of the trap confirmed by intersecting the reservoir top within the anticipated depth.
Horizonte Minerals 7.65p £291m (HZM.L)
The nickel development company focused in Brazil, announced the appointment of Philipa Varris as Head of Sustainability with immediate effect. Philipa Varris has held leadership positions in sustainability and ESG management in the mining sector for over 25 years, primarily in Africa and Australasia and across a number of mineral commodities. Philipa has been awarded the Australian Centenary Medal for leadership in Australia’s largest community consultation and strategic vision development initiative and was recognized in 2020 as one of the WIM UK 100 Global Inspirational Women in Mining. Philipa holds an MSc in Natural Resources, is a Chartered Environmental Professional, a member of the UK Committee of the Australian Institute of Mining and Metallurgy and is a qualified board candidate with Corporate Directors International. As a champion for mining ESG leadership, Philipa has led teams recognised with the Prospectors and Developers Association of Canada Award for Environment and Social Responsibility, the AMEEF Award for Environmental Excellence, and the Mines and Money ESG Producer of the Year Award, amongst others.
Kitwave Group 153p £107.1m (KITW.L)
The delivered wholesale business, today announces a pre-close trading update for the six-month period ended 30 April 2022. The Group experienced a strong first half financial performance with all divisions of the business now trading at pre-pandemic levels or higher. Following this performance, the Board now anticipates the Group’s results for the full financial year to be slightly ahead of market expectations. Due to the seasonality of the business, as in historical periods, there is a heavier weighting towards trading in the second half of the year. As for many businesses, the final full year results of the Group will be influenced by external pressures and uncertainties from cost of living pressures impacting end consumers’ disposable income. The business will also continue to face higher operating costs, however the Board is confident that these will be recovered. The Board is pleased to confirm that the integration of the M.J. Baker Foodservice Limited, which was acquired in February 2022, into the Group has gone to plan and the business is performing in line with internal expectations.
Mpac Group 482.5p £97.3m (MPAC.L)
AGM statement from the specialist in high-speed packaging and automation solutions. Trading in the current financial year has been in line with the Board’s expectations. In addition, the prospects pipeline remains strong, and the current orderbook is significantly above the previous year, providing extensive coverage over forecast revenue. Supply chain uncertainties and operational challenges have increased, amplified by transportation delays at global ports and increased macro-economic uncertainty following the Russian invasion of the Ukraine. However, mitigation measures have been implemented and the Group’s prospects remain positive due to the strength of the orderbook, the prospect pipeline and the end markets served. Tony Steels, Chief Executive, commented: “I am pleased to report that we have started 2022 trading in line with expectations. Our management team has responded well to the supply chain disruption and has been able to largely mitigate the impact on Mpac and our customers. While we anticipate that the current supply chain challenges are likely to continue throughout 2022, the Group has momentum from a strong orderbook and the sound operational foundations, established by implementing the One Mpac business model, and I continue to be confident that results for the full year will be in line with expectations.”
Open Orphan 14.5p £97.3m (ORPH.L)
The rapidly growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that hVIVO, a subsidiary of Open Orphan, has signed a substantial contract with an existing top 5 global pharmaceutical client to manufacture a virus for use in human challenge studies. Virus manufacturing activities have commenced and are expected to be completed by end of Q3 2022. The Company is optimistic that a characterisation study and a substantial human challenge study would follow the completion of the GMP compliant manufacturing process. The aim of a characterisation study is to establish the right dose of the virus that causes a safe and reliable infection in healthy volunteers. The revenue for the manufacturing process will be recognised in 2022. The manufacture of new challenge viruses ensures that hVIVO has contemporary challenge agents available to meet the needs of the global pharmaceutical industry as they continue to fight the battle against infectious disease. Furthermore, this ensures the Company continues to enhance and expand its offering of human challenge studies, especially among infectious diseases where variants continually emerge and are often poorly understood.
Physiomics* 4.75p £4.6m (PYC.L)
The consultancy using mathematical models to support the development of drug treatment regimens and personalised medicine solutions, announce that Dr Cristian Gradinaru has joined its technical team as a Senior PKPD Modeller. Cristian holds a PhD from the Technical University of Copenhagen, Denmark in Stochastic Modelling of Biological Systems, and an MSc from Stanford University, USA in Biophysics. He has held senior scientific roles at companies including Circassia Pharmaceuticals and F-star Biotechnology where he led pre-clinical and clinical projects focused on PKPD modelling. Dr Jim Millen, CEO, commented “We’re delighted that Cristian has chosen to join the Physiomics team. He will provide additional expertise and capacity to support our expanding client base and we look forward to working with him”.
SDX Energy 9.25p £19m (SDX.L)
The MENA-focused energy company, announced the completion of the tie-in of the SD-5X Warda well (SDX Working Interest: 36.85%) to the CPF via the SD-4X flow-line approximately one month ahead of schedule. The well is now under production test, with first gas achieved on 27 April 2022. After the initial flow period, there will be a short shut-in of 12 hours, followed by the main flow period of five days at rates of 8, 10 and 12 MMscf/d. Post the main flow period, SD-5X will be shut-in for 10 days to monitor the pressure build-up before being opened up to flow continuously to the CPF.
Totally 45.5p £84.7m (TLY.L)
The provider of frontline healthcare services, corporate fitness and wellbeing services across the UK and Ireland, today announces the award of a five-year contract extension to Energy Fitness Professionals (EFP), the corporate fitness provider acquired by Totally in December 2021, for the delivery of on-site gyms for the Royal Mail, valued at a total of £2.5m. The contract will run until 16 May 2027. EFP has managed the Royal Mail’s on-site gyms for 18 years. The contract covers the management of 34 sites across the UK, the introduction of an enhanced digital offering, “Health Hub”, and the trial of a new wellbeing consultation protocol for gym members called “Health Fair”.
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”.
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@chrish351.sg-host.com with “unsubscribe me”.
