Hybridan Small Cap Feast

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Hybridan Small Cap Feast

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Alumasc Group 235p  £84.9m (ALU.L)

The premium sustainable building products, systems, and solutions group, announces that Gatic, part of the Group’s Water Management division, has been awarded a number of new contracts in the Middle East and Far East. Building on earlier contract wins, the sales value of these orders total, in aggregate, in excess of £3.5m. These contracts are for the supply of Gatic access and drainage products for a number of projects, including further Gatic access covers for the third runway at Chek Lap Kok airport in Hong Kong, Gatic access cover sales to Doha, Qatar, and Gatic Slotdrain sales to the South Harbour Expansion in Manila, the Philippines. Supply has already commenced, and these contracts are expected to be delivered over the next 12 months. Mr Paul Hooper, CEO said: “These are excellent export wins for Alumasc that demonstrate our globally renowned quality and leading edge products. It also endorses our position as a highly respected supplier of environmentally friendly solutions for infrastructure projects worldwide and underpins the Board’s confidence for 2022.”

Capital 82.8p  £157.4m (CAPD.L)

A leading mining services company focused on the African markets today provides an update of its investment holdings at the end of Q3 2021. Capital reports its investment portfolio position within the interim and full year results. However, returns through Q3 2021 have been significant relative to the size of the portfolio announced in June. These returns are largely attributable to the performance of two key portfolio holdings and have driven an increase in the total investments value of approximately $23.2m, taking the period end portfolio value to $54.2m from $31m at 30 June 2021. This is comprised of a combination of listed companies at the end of Q3 2021 ($44.8m) and the end of June reported value of unlisted companies ($9.4m). Capital will give a further update on financial and operational performance through Q3 2021 with the Q3 2021 trading update on 13 October 2021.

Coro Energy 0.255p  £5.4m (CORO.L)

Coro Energy Plc, the South East Asian energy company focused on leading the regional transition to a low carbon economy, announces an extension of the exclusivity period agreed with the Company’s Vietnamese rooftop solar project partner, Vinh Phuc Electrical Mechanical Installation Co Ltd. (VPE). Current in-country COVID-19 restrictions, including limitations on being able to formally lodge papers with the Vietnamese government, have meant that the Company now expects a definitive joint venture agreement for the JV to be capable of entry by the end of October 2021. Accordingly, the Company and VPE have agreed to extend the exclusivity period under the Heads of Terms first announced by the Company on 12 July 2021 until 31 October 2021.

Fletcher King 45p  £4.1m (FLK.L)

The company releases results for the Year Ending 30 April 2021. Revenue £2,264k (2020: £2,896k); statutory loss before tax of £834k (2020: profit of £76k); adjusted loss before tax of £935k (2020: profit of £243k); significant cash reserves: £2.9m as at 30 April 2021 (2020: £3.6m). David Fletcher, chairman of Fletcher King Plc said: “It has been a challenging year and only the second in the history of the Company that we have reported a loss. We are reasonably optimistic for the coming year but it remains difficult to predict the outcome with any certainty. We anticipate returning to profit, although it may not be in the first half. Our balance sheet remains strong with good cash reserves”.

Iomart Group  182.4p  £199.6m (IOM.L)

The cloud computing company today provides a trading update for the six months ended 30 September 2021. The Group expects to report revenue of approximately £52(H1 FY21: £56.3m), adjusted EBITDAof approximately £19.5m (H1 FY21: £20.8m) and adjusted profit before tax of approximately £9(H1 FY21: £9.8m).  The Group’s cash generation has been ahead of the Board’s expectations, with the cash position increasing to approximately £26m at 30 September 2021 (31 March 2021: £23m). Strategically, the Group has continued to make positive progress in the period against the key milestones announced in May, as part of the refreshed strategy to re-position iomart’s offering around the growing hybrid cloud market. This includes the launch of a new brand, the release of new products and the Group’s first hybrid customer win during the period. Being only a few months into the execution of the refreshed strategy the expected success of the transition of the business will take time to flow through into results, however the progress being made provides the Board with confidence that the Group will return to growth in the medium term.

Live Company Group 4.15p  £6.1m (LVCG.L)

Announces the signing of a new contract with Eastleigh BID for BRICKLIVE the March of the Penguins. This will be the first time that the Group has worked with Eastleigh, who plan to show the models in throughout Eastleigh Town centre in Hampshire. The March of the Penguins consist of 19 Rockhopper penguins and one Emperor penguin model with the largest penguin 1.2 metres tall and smaller ones 45cm meaning they are ideal for Christmas shop windows. The penguins will be installed on 19 November ahead of the Eastleigh BID Christmas light switching on event on 20 November 2021.  Chairman David Ciclitira commented: ‘I am pleased to have signed our first agreement with Eastleigh Bid for the March of the Penguins. It is clear that our UK high streets and town centres suffered during the pandemic and the BIDS are working very hard to bring back customers and visitors to our town centres. We are delighted to partner with them on this important initiative.”

Mast Energy Development 12.25p  £23.1m (MAST.L)

The UK-based multi-asset operator in the rapidly growing Reserve Power market and currently with c. 20 MW sites under its direct control and development, is pleased to announce that it has appointed Mr Dominic Traynor as non-executive director to the Board of Directors with effect from 1 October 2021.  Mr Traynor is a London based company director and solicitor specialising in equity capital markets, and partner at Druces LLPConcurrent with this new appointment MED advises that Mrs Candice Theron is stepping down from the BOD effectively 30 September 2021 to pursue fulltime business interests. 

Semper Fortis Esports* 2.15p  £9.14m (SEMP.L)

The esports company focused on establishing esports teams, forming brand and technology partnerships, and providing business to business advisory services, announces SMPR’s induction into the official Rocket League Esports Shop for the upcoming RLCS season.  As a top performing team in RLCS, SMPR will now be able to provide its fans with the opportunity to represent the team through the purchase of customised in-game cars, branded SMPR, to generate revenue for the Company. SMPR Esports will launch their fully designed items in the official Rocket League Esports Shop this coming Tuesday 5 October. As part of the Rocket Affiliate Program, SMPR will unlock several opportunities including: Releasing team-designed Home and Away Kits in the in-game Esports Shop, Sponsorship inclusion on the teams “Away Kit”, Streaming opportunities during the next RLCS season and Potential of in-broadcast sponsorship placements. Jassem Osseiran, Chief Operating Officer of Semper Fortis Esports, said: “After accepting the invitation to join the Rocket League affiliate program, Semper Fortis will now have a significant participation in the in-game IP of the Rocket League game. This is an excellent opportunity for the Company’s team SMPR to diversify its revenue sources through in-game assets and also provides sponsors with alternative and long-lasting viewership in-game.”

Sensyne Health 141p  £232.4m (SENS.L)

The ethical clinical AI company today announces its financial results for the 12 months ended 30 April 2021.  Highlights includerevenues of £9.1m (2020: £2.1m);adjusted EBITDA losses of £19.9m (2020: £16.0m); an operating loss of £27.9m (2020: £22.4m); and cash of £23.6m (2020: £31.7m). The company reported increased patient records to 8.9m (2.8m 2020) through the signing of five new Strategic Research Agreements in the UK., launched MagnifEye™, a new software application using deep machine learning AI to automate the accurate reading of lateral flow diagnostic tests and signed an exclusive licensing deal with Excalibur Healthcare Services for the use of MagnifEye with lateral flow diagnostic tests. The company also put in place a strategic partnership with Microsoft and the co-development of cloud and machine learning capabilities to help improve, augment, and reduce the cost of patient care.

Yooma Wellness 51.50p  £49.72m (AQSE:YOOM)

A global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands announced that it has completed the acquisition of Big Swig, Inc., a US-based seller of sparkling water beverages. The transaction was implemented through a merger between Big Swig and Yooma Acquisition II Inc., a wholly-owned subsidiary of Yooma, under a merger agreement between the three parties dated September 20, 2021.  On completion of the Merger, Big Swig became a wholly-owned subsidiary of Yooma and its former shareholders exchanged their shares for common shares of Yooma. The merger agreement valued Big Swig at US$2,500,000, less liabilities and a final working capital adjustment on closing totaling US$1,325,000 (including US$375,000 owing to Yooma for funds advanced in anticipation of the transaction).  The total consideration paid by Yooma on completion of the Merger has been satisfied by the issuance of shares of Yooma at a price per share of US$0.795 (CAD$ 1.01).

What’s cooking in the IPO kitchen?

Castlenau Group to join  the Specialist Fund Segment of the LSE’s Main Market. Castelnau was incorporated with limited liability in Guernsey under the Companies Law on 13 March 2020 as a closed-ended company limited by shares. The Company’s investment objective is to compound shareholders’ capital at a higher rate of return than the FTSE All Share Total Return Index over the long term. The Company is targeting an issue in excess of £170m. Sir Peter Wood, British entrepreneur and innovator, has committed to make a cornerstone investment of £25m  in the Initial Placing. Due 18 Oct.   

Tortilla Mexican Grill, the largest and most successful fast-casual Mexican restaurant group in the UK to join AIM. Offer TBA. Due 8 Oct

Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag’s growth strategy and (ii) existing Ordinary Shares to be sold by existing Eurowag shareholders. Eurowag is a leading pan-European integrated payments & mobility platform focused on the commercial road transportation industry. It makes life simpler for commercial drivers and operators across Europe through its unique combination of payments solutions, seamless technology, a data-driven digital eco-system and high-quality customer service. Due October.

Light Science Tech Holdings, the holding company of the Group’s contract electronics manufacturing division, UK Circuits and Electronics Solutions Limited, and its controlled environment agriculture division, Light Science Technologies Ltd to join AIM. Due early Oct. Offer TBA.

Responsible Housing REIT to join the Main Market (Premium) raising up to £250m. The Company’s investment objective is to generate a consistent and sustainable income-based return from the provision of Supported Housing accommodation assets and aligned sectors. The Company will acquire and create quality, fit-for-purpose accommodation assets to cater for supported residents across a number of care sectors including adults and young people with learning disabilities, mental health issues, physical disabilities, addiction, those with support needs, those in need of temporary accommodation, the elderly and otherwise vulnerable individuals.

Arrow Exploration, currently on the TSX Venture exchange to dual list on AIM. Arrow has a portfolio of operated and non-operated interests in producing Colombian oil assets, together with a producing Western Canadian natural gas asset. The Company also has interests in development assets in Colombia. The Company has interests in six onshore blocks in Colombia, held through Arrow’s wholly-owned subsidiary in Colombia, Carrao Energy S.A., and in oil and gas leases in seven areas in Alberta, Canada, held through Arrow’s wholly-owned Canadian subsidiary Arrow Holdings Ltd. Offer TBA. The company last said Sept 13th that it expected to list end of September which has now passed.

Marley Group, a UK leader in the manufacture and supply of pitched roof systems to the construction market , today announces that it is considering an initial public offering on the Main Market (Premium). In HY Jun 2021 revenues grew from £52.1m to £76m with underlying EBITDA more than doubling to £21.8m Timing and offer TBA.

Fruugo.com  which owns and operates a high growth and profitable global cross-border marketplace employing its own proprietary technology and data science, announces its intention to seek admission of its shares to trading on AIM. Due early Oct. Timing and offer TBA.

Optima Health is the UK’s leading provider by size of technology enabled corporate health and wellbeing solutions. To join AIM late Sep. Offer TBA.

Blackfinch Renewable European Income Trust plc, a closed-end investment trust established to invest in a diversified portfolio of mixed renewable energy infrastructure assets, is considering proceeding with an initial public offering and has published a registration document. Raising up to £300m. Due on the Main Market (Premium) in October.

Central Copper Resources, a company focused on delivering a high grade copper project into production and exploration of assets in the Democratic Republic of the Congo (DRC) and in the Republic of Zambia to join AIM. By 2022, CCR intends to be ready to commence the project financing of its Mbamba Kilenda copper project. It pushed back its AIM float on 30th September from end September to late October. It last night said that the amount to be raised is still yet to be confirmed.

Euro Sun Mining Inc (TSX:ESM) seeking to join the Main Market in Q3 2021. The Company’s main asset, the Rovina Valley Project, which contains the Rovina, Colnic and Ciresata deposits, is one of the largest undeveloped copper-gold projects in Europe, holding approximately 400Mt of confirmed resources containing 7.0m ounces of gold and 1.4 bn lbs of copper.

*A corporate client of Hybridan LLP

This document has been prepared 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 such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own 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, they have not been independently verified and are not guaranteed 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, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such. Any and all opinions expressed are current opinions as of the date appearing on 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, directors, 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 is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of the UK retained version of section B of annex I to Directive 2014/65/EU (“MIFID II Directive”); or (ii) investment research as defined in the UK retained version of article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook).


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