Small Cap Feast

7th August 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.

Off The Menu:

What’s Cooking In The IPO Kitchen?

Announced ITF 4 August: Tan Delta Systems plc, a Sheffield based Company intends to IPO on AIM. Tan Delta has developed an innovative and differentiated monitoring solution based on real time oil analysis and analytics that offers equipment operators enhanced insight into the maintenance status of their equipment and thus the ability to reduce maintenance costs, improve reliability and reduce carbon footprint. Admission TBC.

Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market.

Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join the Access Segment of the AQSE Growth Market. Admission delayed.


Breakfast Buffet


Avingtrans 420p £135.5m (AVG.L)
The designer, manufacturer and supplier of critical components, modules, systems and associated services to the energy, medical and industrial sectors, announces that its subsidiary Hayward Tyler Fluid Handling Limited has completed the acquisition of certain assets of Slack & Parr Limited from administration, together with Slack & Parr's overseas subsidiaries in the USA and Asia for a total consideration of up to £4.9m. The acquisition will be satisfied with up to £2.6m to acquire certain UK assets and the shares in Slack & Parr's USA & Asia subsidiaries to be wholly satisfied in cash and £2.3m to acquire certain leased assets subject to and to be wholly satisfied by lease financing. Further to its announcement on 13 July 2023 concerning the acquisition of Adaptix Ltd, Avingtrans confirms that the offer to acquire Adaptix has been accepted by the majority of Adaptix shareholders and this transaction can now proceed to completion.


Beacon Energy 0.095p £10.0m (BCE.L)
The full-cycle oil and gas company with a portfolio of production, development, appraisal and exploration onshore German assets through its subsidiary, Rhein Petroleum GmbH, announces an update on the Schwarzbach-2(2.) drilling operations. Drilling is currently underway in the deviated mechanical sidetrack. The well is on track to achieve the primary objectives of testing the reservoir targets and completing this well as a producer as part of the development of the Stockstadt Mitte segment of the Erfelden field. The Company expects to reach Total Depth in the coming days and will provide a further update on progress as appropriate.


CentralNic Group 130.3p £363.1m (CNIC.L)
The global internet company that derives recurring revenue from privacy-safe, AI-based customer journeys that help online consumers make informed choices, announces a series of recent strategic partnerships. Zeropark, the Commerce Media offering of CentralNic, has now been upgraded to a Tier 1 Demand Partner by Sovrn, a leading publisher technology platform reaching 500 million active consumers each day. In addition, Zeropark has secured a significant deal with Booking.com, the global online travel agency. Using the Zeropark platform, CentralNic will connect high-intent travellers seeking their next getaway directly to Booking.com. Furthermore, Klarna, the Buy Now Pay Later platform, has become a direct publisher on the Zeropark network. Voluum, CentralNic's flagship ad tracker, has launched a new integration with e-commerce platform Shopify.


Cordel Group 6p £11.9m (CRDL.L)
The Artificial Intelligence (AI) platform for transport corridor analytics, provides an update on full-year trading and activities. The Company expects to report revenue for the year ending 30 June 2023 (FY23) of c. £3.0m, representing growth of 32% (2022: £2.27m). The FY23 audited results are expected to be in line with market expectations. The Railway Gauging Data Solution (RGDS) contract delivered on time and on budget has now moved into its 5 year operational phase. Amtrak’s first two project milestones have been successful and have been fully approved. In addition, it has been agreed to accelerate the Cordel automated data capture (laser scanning) phase. Cordel’s restructuring for growth plan is ahead of schedule with key hires made in the UK, US and in Australia.


FIH Group 255p £31.9m (FIH.L)
The international specialist services group with businesses in the Falkland Islands and the UK, announces the Group's audited results for the year ended 31 March 2023. Revenue increased 31% to £52.7m (2022: £40.3m) and underlying pre-tax profit up 39% to £3.2m (2022: £2.3m), with improvements in all divisions. Pre-tax profit of £4.0m (2022: £2.7m as restated) including non-trading items. Cash at 31 March 2023 £12.8m (2022: £9.6m) and net debt improved to £0.5m (2022: £4.6m). A final dividend of 5.3 pence per share will be proposed at the AGM, taking the total dividend for the year to 6.5 pence per share (2022: 3.0 pence per share).


Gemfields Group 15.75p £189.4m (GEM.L)
The company engaged in the mining and marketing of colored gemstones announces that Montepuez Ruby Mining Limitada (MRM), in which the Company holds a 75% interest, has entered into a legally binding contract with Consulmet (Africa) Limited to construct an additional processing plant at MRM's ruby mine in Mozambique. The addition of the second plant will triple MRM's processing capacity from the existing 200 tonnes per hour to 600 tonnes per hour. The contract is a 'lump-sum turnkey contract' based on industry standard International Federation of Consulting Engineers terms, with MRM's payment obligations agreed in South African Rands and equating to approximately USD70m. Subject to specified milestones, it is estimated that 30% of this cost will fall in 2023 and 60% in 2024, with the remainder being paid in 2025. In addition, MRM expects a modest expansion of its mining fleet through 2025, with notable additional capacity being added in 2026. The new processing plant, funded by cash resources and debt, is expected to become operational during the first half of 2025.


Getech Group 9.9p £6.7m (GTC.L)
The locator of subsurface resources, announces that its services now include the ability to predict the location of natural hydrogen deposits in the subsurface. The Company has successfully combined knowledge of natural hydrogen's genetic systems with Getech's proprietary data platform, products and machine learning analysis to deliver this expanded service. Getech's approach categorises sources, migration paths, reservoir traps and seals which are then integrated with its data tools including the Globe digital platform, which models the earth's subsurface and uses computational modelling and AI machine learning to provide favourability maps, identifying the sweet spots for developing natural hydrogen.


MediaZest* 0.053p £0.7m (MDZ.L)
The creative audio-visual company announces that it has raised £130k via the issue of new 3-year unsecured convertible loan notes to existing investors. The Company has also repaid £150k of unsecured convertible loan notes previously issued on 5 August 2020, which had a maturity date of 5 August 2023. Pursuant to the terms of the Existing CLNs, a total of 28,571,429 warrants over the Company’s ordinary shares of 0.01p have been granted to holders of the Existing CLNs. The Existing CLN Warrants have an exercise price of 0.0525p, being the closing mid-market price of MediaZest’s Ordinary Shares on 4 August 2023 and have a twelve month term, expiring on 4 August 2024.


Ondine Biomedical 16.25p £31.7m (OBI.L)
The Canadian life sciences company announces it has partnered with Kelowna General Hospital (KGH) on a pilot program to prevent hospital-acquired infections (HAIs). During the pilot, all orthopedic patients at KGH will be treated with Ondine's Steriwave® nasal photodisinfection therapy prior to surgery. Ondine's revolutionary Steriwave photodisinfection treatment kills all types of pathogens - viruses, bacteria, and fungi - without causing resistance and is already in use at a number of hospitals across Canada, including Vancouver General Hospital (VGH) and The Ottawa Hospital.


Roquefort Therapeutics* 8.75p £11.3m (ROQ.L)
The biotech company focused on developing first in class medicines in the high value and high growth oncology market announces the successful development of new siRNA sequences and new patent filing for its family of novel anti-cancer siRNA therapeutics. The new siRNA sequences expand the Company’s portfolio of siRNA medicines that attack the targets STAT-6 (Signal Transducer and Activator of Transcription) and its SH2 (Src-homology-2) domain. The Company's siRNA sequences are being developed in combination with nano-particle delivery systems to target the hard-to-treat, high mortality solid cancers including colon and breast cancer with results expected in Q4 2023.

7 August 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