Small Cap Feast

5th April 2024

Dish of the day
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Dish Of The Day:



Saietta Group Plc (SED.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

Agronomics 8.45p £85.3m (ANIC.L)
A company focused on the field of cellular agriculture, announces that it has invested US$ 10m in its portfolio company Liberation Labs Holding Inc. as part of a wider US$ 12.5m financing round with participation from existing investor Siddhi Capital. The investment was made in the form of a Secured Convertible Promissory Note. Including the SCPN, Agronomics has invested US$ 17.6m in Liberation Labs which, subject to audit, is currently carried at a book value of £25.7m.

Beeks Financial Cloud Group 179p £118.9m (BKS.L)
A cloud computing and connectivity provider for financial markets, announces a strategic partnership with Securities & Trading Technology (STT), a leader in trading, clearing, and surveillance technology. This collaboration introduces a service-based solution to meet the evolving needs of the global financial markets. This partnership underlines the shared commitment of Beeks and STT to setting new industry standards and delivering value to clients worldwide.

Chamberlin 1.65p £3.0m (CMH.L)
The castings and engineering group, announces the following board changes. After 12 years with the Company, Keith Butler-Wheelhouse, Non-executive Chairman, will retire from the Board with immediate effect. With immediate effect, Kevin Nolan, Non-executive Director will assume the role of Interim Non-executive Chairman and Trevor Brown, Executive Director will become a Non-executive Director of the Company. In addition, Alan Tomlinson has decided to leave his role as Finance Director and will leave the Company on 10 May 2024. The Company intends to appoint an independent Non-executive Director in due course and a further announcement will be made, as appropriate.

Equipmake Holdings 5.75p £50.3m (AQSE:EQIP)
The UK-based engineering specialist is working in partnership with First York and has delivered a fleet of 12 upgraded electric buses with all vehicles now in full operation in the city. Following a successful passenger-carrying trial, First York's fleet of 12 converted, fully electric Optare Versa buses is now in service. Each vehicle has been upgraded with Equipmake's Zero Emission Drivetrain (ZED) giving a daily range of 150 miles.

Global Ports Holdings 201.5p £154m (GPH.L)
The world's largest independent cruise port operator, announces that following a public tender process, a majority-owned consortium between GPH (51%), local shareholder, Steya (40%) and Ocean Infrastructures Management (9%) has been awarded preferred bidder status for a 15-year concession agreement with Agence Nationale des Ports (ANP), to operate the Casablanca new cruise terminal. The consortium and ANP will now work towards agreeing on the terms of the concession agreement.

Red Rock Resources 0.0575p £2.1m (RRR.L)
A natural resource development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia announces an update on Democratic Republic of Congo (DRC) with respect to the claim the Company is pursuing in country for its interest in the VUP copper-cobalt joint venture. On 5th February 2024 Red Rock awaited signature and release and recent intensive and direct discussions with the former JV partners mean that we may be able to approach the arbitrator with an agreed position.

RUA Life Sciences 13p £8.1m (RUA.L)
The holding company of a group of medical device businesses focused on the exploitation of the world's leading long-term implantable biostable polymer (Elast-Eonprovides an update on trading for the financial year ending 31 March 2024. Revenue shortfall experienced during H1 has been fully compensated by a strong H2 performance. As a result, the Company expects to report, FY24 revenue of £2.2m, in line with market expectations. The Company has a cash position of approximately £4.0m. The Company further announces that it has succeeded in securing the initial development stages of a significant contract with a global enterprise.

Sareum Holdings* 10.75p £7.7m (SAR.L)
A clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer yesterday announced that further to its announcements of 28 March 2024 and 2 April 2024, the Placing, Subscription, Director Subscription and WRAP Retail Offer will complete today, raising gross proceeds of £2.29m through the issue of, in aggregate, new Ordinary Shares at the Placing Price of 10 pence per new Ordinary Share.

Steppe Cement 16p £35.0m (STCM.L)
The Kazakh cement producer announces provides the following trading update for the first quarter ended 31 March 2024. In Q1 2024, Steppe Cement sold 175,383 tonnes of cement for KZT 3,779m (approximately USD 8.4m, compared with 214,832 tonnes for KZT 4,938m (approximately USD 10.8m) in Q1 2023 (decreases of 18% and 23%, respectively) and the average price received by Steppe for delivered cement in Q1 2024 was KZT 21,545 (approximately USD 48) per tonne compared with KZT 22,985 (approximately USD 51) per tonne. The Company currently estimates Kazakhstan's cement market demand for 2024 to be approximately 11 million tonnes per annum, 5% lower than in 2023.

Tekcapital 8.25p £16.4m (TEK.L)
The UK intellectual property investment group focused on transforming university technologies into valuable products announces that Guident is incorporating its remote monitoring and control (RMCC) technology into AuVe Tech OÜ (Auve Tech) MiCa autonomous shuttle. Auve Tech, a pioneer in autonomous transportation systems, based in Tallinn, Estonia, has officially introduced its flagship product, the MiCa shuttle, which offers turnkey autonomous transportation solutions tailored in the US market.

5 April 2024
*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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