Small Cap Feast

6th December 2022

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Dish Of The Day:

No joiners today.

Off The Menu:
No leavers today. 

What’s Cooking In The IPO Kitchen?

Smarttech247 Group, intends to join AIM. The company is a provider of AI enhanced cybersecurity services providing automated managed detection and response and has raised £3.67m to support its continued expansion into new products and geographies, development of its proprietary technology and for general working capital purposes. Admission is expected to take place on 15 December 2022 under the TIDM S247.

Conviction Life Sciences, a newly established closed-ended investment company managed by Plain English Finance Limited, is seeking to list on Premium Segment of the Main Market of the London Stock Exchange, to invest in a conviction portfolio of life sciences and medical technology businesses, primarily in the UK, Europe and Australasia. The Company will invest in both Publicly Traded and Private companies - c. 70% and c. 20% of the total portfolio value respectively. The Company will target an annualised Total NAV Return of 20% over the long-term. Targeting to raise c.£100m. Date 16 December.

Kistos Holdings intends to join AIM. The Company was incorporated to act as a new holding company for the group companies of Kistos plc (KIST), a holding company with the objective of creating value for its investors through the acquisition and management of companies or businesses in the energy sector. Anticipated Market Cap £327m. Expected 22 Dec 2022.

Breakfast Buffet

AfriTin Mining 4.4p £66.8m (ATM.L)

The African technology metals mining company with a portfolio of mining and exploration assets in Namibia is seeking to change its name to Andrada Mining Limited, reflecting the Company's expanding lithium and tantalum resources alongside its existing tin production. The proposed rebrand will be voted on in the Company’s EGM on the 5th January 2023.

Aura Energy 15p £79.8m (AURA.L)

The Australian based minerals company announces the successful production of yellowcake product from beneficiation pilot plant concentrate samples from the Tiris Uranium Project in Mauritania. The samples used in this program were announced on 23 June 2022. The production of yellowcake in the form of uranium oxide concentrate (UOC) from the samples is a key milestone as the Company moves towards near-term Phase 1 uranium production. The result successfully completes the uranium recovery test work program at the ANSTO laboratory and indicates that Tiris production could be sold in the international market as a high-standard product without penalties.

Clean Power Hydrogen 29.75p £79.9m (CPH2.L)

The UK-based green hydrogen technology and manufacturing company announces that Arash Selahi has been appointed as Chief Operating Officer. Mr Selahi has been the Company's Head of Operations since May 2022 and has an extensive background in managing industrial manufacturing facilities in a range of sectors. Further to previous announcements, the Company also confirms that James Hobson has taken up his role of Chief Financial Officer and executive director, following the retirement of Clive Brook.

Hargreaves Services 352.5p £114.7m (HSP.L)

A diversified group delivering services to the industrial and property sectors provides the following update on trading ahead of reporting its interim results for the six months ended 30 November 2022. The Board anticipates both revenue and profit before tax to be higher than in the comparative period. Improvement has occurred in each of the three business segments, Services, Hargreaves Land and HRMS (German Joint Venture). On 30 November 2022, the Group had cash and cash equivalents of £18.1m compared to £13.8m at 31 May 2022. The Group also had leasing debt totaling £30.6m (£18.4m on 31 May 2022). The Board remains confident of delivering full year results in line with market expectations.

Inland Homes 19.25p £43.5m (INL.L)

The housebuilder, partnership housing developer and regeneration specialist focused on the South and South East of England, announces that Donagh (Don) O'Sullivan will join the Board as Chief Executive Officer of the Group, effective immediately. Don was formerly CEO of the privately owned, Galliard Homes from July 2017 until March 2022, having joined the company in 2001 originally as a contract manager.

Lifesafe Holdings 49.5p £10.9m (LIFS.L)

The fire safety technology business with innovative fire extinguishing fluid and fire safety products, provides a trading update for the 11 month period ended 30 November 2022. Sales growth through the Group's consumer channels has exceeded its expectations for the period. Revenue in that period is now above current market guidance of £3m for the full year ending 31 December 2022 (FY22). The Board has therefore upwardly revised its expectation of FY22 revenue to between £3.5m and £3.8m. EBITDA for the full year remains in line with current market expectations, due to increased short term logistics costs and increased marketing costs.

OKYO Pharma 2.75p £37.8m (OKYO.L)

The ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease, announces that it has filed a registration statement on Form F-1 with the U.S. SEC relating to a secondary public offering of its American Depositary Shares (ADSs), each of which will represent 65 of the Company's ordinary shares of no par value each in the United States. The number of ADS’s to be offered and the price range for the Offering have not yet been determined. The Offering is subject to market conditions.

Time Out Group 41p £137.7m (TMO.L)

The global media and hospitality business announces its audited full year results for the 12 months ended 30 June 2022 (Comparative information relates to the 18 months ended 30 June 2021). Gross revenue increased by 62% to £72.9m (2021 18m: £44.9m) and net revenue by 47% to £55.4m (2021 18m: £37.8m). Gross profit increased 48% to £44.6m (2021 18m: £30.2m). Group operating loss reduced to £14.1m (2021 18m: £60.5m loss). Group Adjusted EBITDA improved to positive territory of £1.2m (2021 18m: £17.6m loss). While recognising the head winds the Group may face in FY2023, the Board remain cautiously optimistic given the increasing engagement of global brands seeking its multi-channel advertising solutions and the recent record trading days within the Time Out Market portfolio.

Versarien 10.76p £20.9m (VRS.L)

The advanced materials engineering group announces it has raised £1.85m, before expenses, by way of a placing at a price of 10 pence per share. The net proceeds of the Placing will be used to continue Versarien's commercialisation work, primarily in the construction and leisure sectors and for general working capital purposes.

Vianet Group 63.5p £18.3m (VNET.L)

The cloud base provider of business intelligence to the hospitality, unattended retail vending and remote asset management sectors announces its unaudited results for the 6 months ended 30 September 2022. Group revenue was at £7.18m (H1 2022: £6.34m), being 85.4% of pre-pandemic performance levels. Recurring revenue, on contracts varying from 3 to 5 years, grew to £6.17m being 86% of the turnover during H1 2023 (H1 2022: £5.25m). Operating profit post exceptional items was £1.17m (H1 2022: £0.78m). The pre-tax loss was £0.11m (H1 2022: £0.36m loss). Management is confident in meeting the market's expectations for the full year, and believes it is well placed to achieve pre-pandemic run rates. 

6 December 2022
*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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