Small Cap Feast

5th July 2024

Dish of the day
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Off the menu
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Dish Of The Day:



Whats baking in the oven?

Potential**** Initial Public Offerings:

ITF announced:

24th June 2024: Rosebank Industries: The Company aims to repeat the successful 'Buy, Improve, Sell' business model which the Rosebank Co-Founders implemented during their time at Melrose. Rosebank proposes to acquire quality industrial or manufacturing businesses whose performance may be improved. The Company’s first day of trading on AIM is expected to be 11th July 2024. The primary offer expected size is approximately £50m.

Media speculation: (We remove rumours after 10 days of being on the menu)

Reverse Takeovers:

Change of Market:

Dual Listing :

Banquet Buffet

1Spatial 72p £79.9m (SPA.L)

The leader in Location Master Data Management (LMDM) software and solutions will hold its Annual General Meeting at 11am today at. Andrew Roberts the Non-Executive Chairman will report that trading for the full year is expected to be in line with expectations. The Chairman will state that they have secured several new contracts in Europe and the US (as previously announced) in recent months, and continue to make progress with their innovative 1Streetworks SaaS offering. The Group says that it has a strong order book, a growing recurring revenue stream and substantial sales pipeline underpinning the Board's confidence in the outturn for FY25.

Accsys Technologies 56p £132.6m (AXS.L)

The Company announces today that Interim Chief Financial Officer (CFO), Hans Pauli, has been appointed as an executive director of the Company with effect from 4 July 2024. On 16 May 2024 the Company announced that Hans Pauli had been appointed as Interim CFO whilst a search was underway to replace previous CFO, Steven Salo. While the search for a permanent CFO is well underway, the Board believes it would be prudent to appoint Hans as an executive director of the Board, in his capacity as Interim CFO, to provide continuity for the business.

Coinsilium 1.6p £2.2m (AQSE: COIN)

The Web3 investor, advisor, and venture builder reports that investment portfolio company Greenage Global Holding has released a press release announcing news of its collaboration with global cryptocurrency exchange Coinbase to originate SME debt on the Coinbase Diamond Protocol. This collaboration seeks to utilise blockchain technology to provide SMEs with access to capital, promising a more efficient and transparent financing solution. The Coinbase Diamond protocol enhances the issuance and management of private capital.

Emmerson 1.7p £19.4m (EML.L)

The Moroccan-focused potash development Company provide an update on activities during Q2 2024 from its 100% owned Khemisset Potash Project. The key priority in Q3 remains obtaining environmental approval for the Project. At the same time, the Company is continuing with low cost/high value testwork related to KMP including crop trials, technical workshops, and production optimisations both in Morocco and the UK.

Kibo Energy * 0.012p £0.5m (KIBO.L) (Suspended)

The renewable energy-focused development Company announces that further to its RNS announcement of 27 June 2024, it has now received the Tranche 1 placing proceeds of £150k. The proceeds will now allow the Audit of the 2023 Accounts to proceed. Furthermore, the Board changes as proposed in the announcement of 27 June 2024 have been partially completed. Mr. Jacobus (Cobus) Johannes van der Merwe has been appointed to the Kibo board as an executive director and interim CEO, and Mr. Louis Coetzee has retired from the board as director & CEO. These Board changes are effective today with Mr. Clive Roberts to be appointed to the Board in due course when regulatory approval is completed.

Pipehawk 2.15p £0.8m (PIP.L)

The Company provides a trading update in relation to QM Systems Limited (QM), a subsidiary of PipeHawk. As announced by the Group on 27 March 2024, QM has experienced a number of challenges, which have included, inter alia, a reduction in the number of orders as well as the value of orders received. Notwithstanding this challenging environment, the board of directors of the Group anticipated that QM would receive two material orders that were anticipated to underpin QM's financial performance and position. Contrary to the Board's expectations, it has now been made apparent to the Board that the two anticipated material orders will not be forthcoming. As a result, QM's financial position is now under severe financial pressure. Accordingly, the Board is now taking steps to potentially, inter alia, place the Group's subsidiary, QM, into administration or a similar corporate insolvency process.

Physiomics * 0.65p £0.9m (PYC.L)

Further to the announcements on 3 July 2024, the completion of the WRAP Retail Offer, at the same issue price of £0.006 as the previously announced Placing has now completed. The WRAP Retail Offer, which closed at 4:30 p.m. yesterday and which was oversubscribed, has raised gross proceeds of £25,000. The Fundraise, which is conditional on Admission, raises gross proceeds of, in aggregate, £406,417. The proceeds will be used for 1) Recruitment of a Head of Mathematical Modelling Service Line to accelerate conversion of the pipeline and drive operational excellence; 2) Further investment in Business Development and Marketing to build and strengthen the pipeline, expand into new therapeutic areas, develop its data science offering and launch its biostatistics offering; 3) Build a biostatistics capability, including team expansion, development of processes, acquisition of necessary tools and exploration of strategic options; and 4) Implementation of the personalised dosing tool on the DoseMeRx Platform, enabling it to be available to clinicians across the US and deliver on a study in partnership with DoseMeRx to further develop the tools G-CSF functionality.

Science in Sport 18.5p £33.3m (SIS.L)

The premium performance nutrition Company serving elite athletes, sports enthusiasts and the active lifestyle community announces that, following the announcement made yesterday regarding the launch of the proposed placing, it has successfully raised gross proceeds of approximately £8.0m at a price of 17p per share, a circa 8% discount to the closing mid-market price of 18.5 pence per Existing Ordinary Share on 3 July 2024, being the latest practicable date prior to the publication of the fundraise Announcement on 4 July.

SEEEN 3.25p £3.9m (SEEN.L)

The media and technology platform that delivers AI-led Key Video Moments to drive increased views and revenues across all video content announces its audited results for the year ended 31 December 2023. Revenue decreased to $2.05m (2022: $3.25m), the loss before tax decreased to $5.27m (2022: $10.69m) and cash and cash equivalents was $1.06m (2022: $1.24m). There is a strong pipeline of more than $5m in potential annualised revenue through direct sales opportunities with additional opportunities through reseller channels.

Valereum 4.15p £4.5m (AQSE: VLRM)

The Company announces it has concluded the raise of £2m from its Chairman, James Formolli, at £0.036 per share. As announced previously, the proceeds of the raise will be used to fund Valereum's growth across its VLRM Markets, Technology and Capital verticals. In addition, the proceeds will be used to expand the utility of the GATE Token across the VLRM ecosystem and to extinguish its remaining loan, following which, there will be no outstanding loan liabilities.


5 July 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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