Small Cap Feast

5th April 2023

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

Joiners: 
No joiners today.

Leavers:
No leavers today.



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.

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.

Fadel Partners, a developer of cloud based brand compliance and rights and royalty management software, working with some of the world's leading licensors and licensees across media, entertainment, publishing, consumer brands and hi-tech & gaming companies intends to join the AIM market. FADEL has two solutions, being IPM Suite and Brand Vision. Expected capital raise on Admission of £7.5m and Market Capitalisation of £28.8m. Expected Admission 6 April 2023.

PanGenomic Health Inc, currently traded on the Canadian Securities Exchange market intends to dual list on the Access Segment of AQSE Growth Market, as a springboard to expand footprint of its personalised and self-care digital health platforms in the UK/EU markets. The Company has three platforms: Nara App, Mindleap.com and the PlantGx Platform. PanGenomic Health Inc is currently traded on the CSE. 88.6% of the total issued shares will be floated. Expected Admission 12 April 2023.


Breakfast Buffet

AIREA 39p £16.1m (AIEA.L)
The UK design-led specialist flooring company, supplying both the UK and international markets, announces its final results for the twelve months ended 31 December 2022. Revenue increased by 16.5% to £18.5m (2021: £15.9m), profit before tax up 11.0% to £1.4m (2021: £1.3m) and the Group has net cash increased by 53.0% to £2.8m (2021: £1.9m). The Group is focusing on the launches of new sustainable products and the refresh of existing products with a drive towards sustainability including their first carbon neutral range arctic. The Board are optimistic that the Group has been able to minimise their cost pressures and inflationary headwinds in 2022.

Arecor Therapeutics 255p £78.1m (AREC.L)
The biopharmaceutical group advancing today's therapies to enable healthier lives, announces the appointment of Dr. Manjit Rahelu as Chief Business Officer, with immediate effect. Manjit holds a PhD in Immunology from the University of Birmingham and has a strong scientific background and over 25 years of technical, commercial and financial experience across large and mid-sized pharmaceutical and biotechnology companies. Manjit will shape and oversee the Group's business and corporate development strategy.

Avacta Group 123p £331.9m (AVCT.L)
A life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, announces that the first patient has been dosed in the fifth cohort of the first-in-human phase I trial (ALS-6000-101) of AVA6000 at at 250mg/m2. This follows the approval of an amended clinical trial protocol by the Medical and Healthcare Products Regulatory Agency for higher doses. The recent confirmation of release of active chemotherapy in the tumour tissue and the safety data being generated in the ALS-6000-101 study are providing detailed insights into the tumour targeting potential of the pre|CISION™ platform.

Crimson Tide 2.85p £18.8m (TIDE.L)
The provider of the mpro5 Smart App Solution, announces a contract win with an NHS trust in the South East of England. The initial contract value is c£250k over its initial 36-month term; however, the project is anticipated to increase in size and contracted revenue later this year. mpro5 will aid the Trust understand the current condition and level of statutory compliance of each space in its facilities, supplemented by data captured on the mobile app from a wide range of incidents with associated rectification and response times. The Company aims to add its Internet of Things module later this year.

Futura Medical 45.35p £132.7m (FUM.L)
A pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology announces its audited results for the year ended 31 December 2022. No revenue was recognised, net loss of £5.85m which included R&D costs of £4.13m (2021: £3.77m) reflecting the completion of the FM71 study and continuing manufacturing and the Company has cash resources of £4.03m including £1.02m tax credit refund due mid 2023. The Company are focused on gaining marketing authorisation in USA to enable the marketing of MED3000 as a clinically proven topical treatment for Erectile Disfunction.

Global Connectivity* 1.25p £4.6m (AQSE: GCON)
A company focused on communication services and technologies that enhance connectivity and formally known as Rural Broadband Solutions, announces an update from the company in which it holds a 15% stake, Rural Broadband Solutions Holdings Limited (RBSHL). RBSHL holds 100% of Shropshire based SWS Broadband which has taken on 16 members of staff and moved to a new office location in Shrewsbury. In October 2022, GCON announced an investment from Tiger Infrastructure Partners Fund III LP of up to £75m into RBSHL. The Company are continuously looking for opportunities in technically based businesses that enhance connectivity either between consumers or businesses that provide services to consumers where enhanced connectivity is essential.

Jade Road Investments* 1.28p £4.0m (JADE.L)
The London quoted company focused on seeking the best risk-adjusted returns globally announces a new investment of US$500k in Heirloom Investment Fund SPC - Heirloom Fixed Return Fund SP (Fund). The Fund offers investors a diversified portfolio of primarily asset backed and/or income producing investments targeted to deliver an attractive risk-adjusted return over the long-term. The Fund is managed by Heirloom Investment Management LLC. The Fund's Portfolio represents a mix of geographically diverse assets where JADE does not have exposure to, thus adding diversification to JADE's portfolio. The goal is to build a portfolio of primarily asset-backed and/or income-producing investments that is uncorrelated to the general market and that consistently generates attractive risk-adjusted returns. The company remain committed to the orderly disposal of their Legacy Portfolio in Asia and start deploying capital into income-generating, asset backed investments with a diversified geographic exposure.

Lexington Gold 4.8p £13.6m (LEX.L)
The gold exploration and development company with projects in North and South Carolina, USA, announces receipt of the results for 505 soil samples taken from the Jennings-Pioneer Project. Soil assays mapping has identified 13 gossans (targets at surface) within three separate mineralisation trends: The Barite Hill Trend extending over 350m with gossanous surface rock chips returning up to 1.735g/t Au. The Jennings Trend illustrated several gossanous rock chip samples returning grades in excess of 0.5g/t Au (maximum 0.72g/t Au). And soil sampling on the Self Trend located anomalous copper and zinc with evidence of gossans. The Company looks forward to undertaking further exploration work at Jennings-Pioneer.

Oxford BioDynamics 15.85p £23.3m (OBD.L)
A biotechnology company developing precision medicine tests based on the EpiSwitch® 3D genomics platform, announces updates on its PSE and CiRT tests. Acceleration of final development and launch of Prostate Screening EpiSwitch (PSE) clinical test in both UK and US, for availability in Q4 2023. The Company’s EpiSwitch CiRT (Checkpoint inhibitor Response Test) continuing to gain traction in the US, posting record orders in March 2023. The Company has also leased its US lab space for own CLIA-certified LDT testing facility and has commenced certification of clinical testing facility within its existing Oxford base.

The Fulham Shore 13.9p £88.2m (FUL.L)
The owners and operators of The Real Greek and Franco Manca restaurants announces a trading update ahead of the publication of the Company's results for the year ended 26 March 2023 (FY23) . The Group opened 18 new restaurants (13 Franco Manca pizzeria’s and 5 new The Real Greek restaurants), there were also two restaurant closures. These openings were primarily funded through operational cashflow. The Company's net debt was £0.7m. The Group has undrawn net bank facilities of £14.9m. The Group currently plans to open six new UK restaurants across both brands and will continue to be financed primarily by internal cash flow.

5 April 2023
*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

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