Small Cap Feast

8th April 2024

Dish of the day
No Joiners today
Off the menu
No leavers today

Dish Of The Day:

European Green Transition (EGT.L) a developer of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition has joined AIM with a successful placing and subscription at a price of 10p per share. The Company has raised approx. £6.46m. On Admission, the Company will have a market capitalisation of approximately £14.5m


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.

Reverse Takeovers:

Change of Market:

Banquet Buffet

Aptamar Group 0.625p £2.9m (APTA.L)
The developer of novel Optimer binders to enable innovation in the life sciences industry announces that it has filed a patent application to protect the recently developed Optimer binder sequences for novel applications in fast moving consumer goods generated as part of its partnership with Unilever. The patent was submitted on 28 March 2024. Submission of this patent application reinforces the ongoing commercial protection of Aptamer Group's leading technology position in the development of high-performance binders.

Cora Gold Limited 2.1p £9.5m (CORA.L)
The West African focused gold Company announces that an exploration drill programme is due to start shortly at its Madina Foulbé gold permit within the Kenieba Project Area (Project) in east Senegal. A 2,000m Reverse Circulation drilling programme scheduled to evaluate the most prospective gold anomalies not previously drill tested is to start. The drill contract has been signed and site preparation commenced ahead of drilling due to start week 15 April 2024 and complete in May 2024.

ELECO 93p £77.4m (ELEC.L)
The specialist software provider for the built environment, announces the appointment of James Pellatt to the Board as an independent Non-Executive Director. James has over 25 years of senior leadership experience in technology and the built environment. He also led the use of data resulting in the British Property Federation Award for 'Best Use of Data' in 2023 and he has also studied Digital Transformation at MIT, including a specialism in Machine Learning and Artificial Intelligence.

Faron Pharmaceuticals 132.5p £91.2m (FARN.L)
A clinical-stage biopharmaceutical Company pursuing a CLEVER approach to reprogramming myeloid cells to activate anti-tumor immunity in hematological and solid tumor microenvironments announces that its Chief Executive Officer (CEO) Dr. Markku Jalkanen has informed the Board of Directors of his wish to retire from his position as the Company's CEO during the course of Q2 2024, while continuing in his role as Board Member. The Company's current Chief Operating Officer, Dr. Juho Jalkanen, would be the best candidate to succeed Dr. Markku Jalkanen as CEO of the Company, effective May 1, 2024.

Intercede Group 111.5p £64.5m (IGP.L)
The cybersecurity software Company specialising in digital identities announces the following trading update for the financial year ended 31 March 2024 (FY24). The Group further announces that revenues for FY24 are expected to be approximately £20m (2023: £12m), 65-66% higher than FY23 and 66-67% higher on a constant currency basis. As at 31 March 2024, gross cash balances totalled £17.2m (2023: £8.3m). The Group has no debt.

Mirriad Advertising 2.2p £10.8m (MIRI.L)
The in-content advertising and virtual product placement Company announces that it has entered into a strategic agreement (Partnership) with TripleLift Inc. TripleLift's SSP will facilitate automated selling of in-content inventory from Mirriad's growing number of supply partners into leading media buying platforms such as Google's DV360 and the Trade Desk. Mirriad and TripleLift will continue to monetise their unique services via the respective fees generated from inventory transactions.

One Heritage Group* 10p £3.9m (OHG.L)
The UK-based residential developer, development manager, and property manager focused on the North of England, announces that Yiu Tak (Peter) Cheung has tendered his resignation as Chief Investment Officer (CIO), effective 30th April 2024. The Company has recruited a new Head of Investment, who will officially start in post on 15th April 2024.

Renalytix AI 28.5p £34.2m (RENX.L)
An in-vitro diagnostics and laboratory services Company that focuses on the new field of bioprognosis for kidney health announces a fundraise of $1m at $0.75 NASDAQ ADS ($0.375 per Ordinary Share) to DB Capital Partners Healthcare, L.P. The sale and purchase shall complete no later than 19 April 2024. The net proceeds of the Fundraise will be used to support commercial sales activity and provide enhanced optionality as the Company continues its ongoing Formal Sale Process, as previously announced.

Tekmar Group 10p £13.8m (TEK.L)
A provider of products and solutions for the global offshore energy market announces it has recently secured a number of contract awards, with a cumulative value of approximately £6m. The contracts comprise the manufacture and supply of concrete mattresses and sleepers to support subsea pipelines, PRP rock bags and lifting equipment rental. Separately, Tekmar's offshore wind business has secured a contract award of approximately £2m with a tier one offshore wind contractor for the design and supply of Tekmar Group's flagship Generation 10 cable protection system. These contract awards support an order intake of approximately £23m in the financial year to date.

Windar Photonics 34.5p £23.7m (WPHO.L)
A technology group that has developed a LiDAR wind sensor and software suite designed to efficiently and cost effectively increase the power output of electricity generating wind turbines announces that it has received a significant new order with a gross value of US$1.27m. This new order represents the Company's third full wind farm deployment in North America with Vestas V82 wind turbines to be equipped with the Company's Windar WindEye / WindTimizer optimisation solution. The Company is further proposing to raise up to £4m (with a minimum of £2m) by way of a placing at a price of 35 pence per Placing Share.

8 April 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged


Our daily digest of news from UK listed Small and Mid caps straight to your Inbox.


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 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