Hybridan Small Cap Feast

Joiners: URA Holdings (URAH.L), a London based mining exploration and development company, has joined the Main Market (Standard). URA, a former AIM-listed company, is refinanced and ready for listing as an African focused mineral exploration company. The Company’s purpose is to seek unique, value-enhancing opportunities in minerals as a project generator including to prove-up early-stage exploration projects to spin out/farm out or sell. The strategy is initially focussed on Southern and Central Africa, and good opportunities will occur in countries with relatively stable and reliable political system such as Zambia. The Company has raised £1.05m before costs. The net proceeds of the Placing will be primarily applied for the development of the Group’s Njoka project and working capital.  

Alkemy Capital (ALK.L) has been readmitted to the Main Market (Standard) following a reverse takeover. The Company has incorporated an operating subsidiary, Tees Valley Lithium, which is being established to finance and construct a lithium hydroxide processing facility in Teesside, UK. The processing facility will aim to produce 24,000 tonnes per annum of lithium hydroxide monohydrate to be sold in the energy storage markets. The Company is aiming to establish one of the world’s most sustainable producers of lithium hydroxide and to form a processing hub for multiple potential sources of feedstock. An exclusivity agreement, which appends a heads of terms, has been entered into by the Company in respect of a proposed lease over a brownfields site at Wilton International.

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ADM Energy* 0.75p  £1.9m (ADME.L)

The natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field. As previously announced on 13 December 2021, the Company and K.O.N.H. (UK) Ltd (“KONH”) obtained an interim injunction at the Federal High Court of Nigeria, Lagos (“Court”) restraining Noble Hill-Network Limited (“NHNL”), its officers, agents, privies or person howsoever connected from selling, disposing, divesting or tampering with the 70% shareholding interest of KONH in NHNL to third-party investors or in any other manner whatsoever. Further to the announcement of 17 January 2022, the Company has been advised that the Court has further adjourned this matter until 5 May 2022.  The interim injunction continues to stand in the meantime and a further update will be made in due course.

Afritin Mining 7.05p  £79.1m (ATM.L)

The African tech-metals mining company with a portfolio of mining and exploration assets in Namibia, announced the discovery of spodumene, a lithium-bearing mineral, within its fully permitted mining license ML 129, situated 11 kilometres SW of the Company’s flagship asset, the Uis Tin Mine. Lithium-bearing spodumene identified within multiple pegmatites located on adjacent mining licence ML 129; Discovery lies within the operational limits of the current Uis Tin Mine processing facility; Spodumene complements the Company’s existing pegmatite hosted lithium resource at Uis. This discovery is the first result of an extensive early-stage regional exploration programme.

Barkby Group 15.75p  £22.6m (BARK.L)

Usense, the first product developed by Verso Biosense (in which Barkby has a minority stake) has successfully completed its first clinical study in partnership with the University of Southampton and National Institute for Health Research. Usense is a novel tool for better informing healthcare professionals when treating female infertility and was used to continuously monitor the uterine environment in 15 women over a 7-day period. The device was well tolerated by all participants who received the implant, while the temperature and dissolved oxygen data collected provided a unique insight into a physiological environment that is critical for embryonic development. This environment has never been continuously monitored before and the unprecedented data was rich in detail, showing both variation between patients and variation over time. Verso has made an application for regulatory approval for the Usense system with BSI for a UKCA mark and ISO13405 certification, this will shortly be followed by an application for a European CE mark.  Over the last five years Verso and the University of Southampton have filed eight patents across multiple territories to protect the system, implant and underlying technology. Verso will now be looking to enter into formal commercial agreements with fertility clinics and clinicians within the UK and Europe to begin commercialisation of Usense.

ECR Minerals 1.375p  £13.6m (ECR.L)

The gold exploration and development company focussed on gold exploration in Australia, provided results from hole BH3DD019, drilled into the north end of the Maori Reef within HR3 at Bailieston, Victoria, Australia. ECR Minerals plc has 100% ownership of the Bailieston Project (EL5433), which is operated under its Australian wholly owned subsidiary Mercator Gold Australia Pty Ltd. Assays from one drill hole (BH3DD019) now received. This is the deepest hole drilled under the north end of the Maori Reef and it has identified four mineralised zones. Best intercepts include 0.5m @ 9.5 g/t Au from 99.9m, 0.8m @ 4.96 g/t Au from 100.4m, 0.3m @ 4.59 g/t Au from 143.4m and 0.6m @ 6.15 g/t Au from 231.5m. Geological logging of visible stibnite in holes drilled into the Maori Reef also correlates well with expectations of reportable gold. Stibnite, arsenopyrite and gold mineralisation collectively identifies with an ‘epizonal’ style of mineralisation which is typical of the nearby deposits such as Costerfield, Nagambie and Whroo.

Eurasia Mining 7.75p  £221m (EUA.L)

The palladium, platinum, rhodium, iridium and gold producing company announces the following further to the Board meeting held: The fundamentals of the Company developed over years have not changed. Contrary to speculations none of the Eurasia’s team members (being the largest shareholder group) has sold any shares in the Company. The Board is closely monitoring the evolving sanctions and re-iterates that no individual or entity identified in the sanctions is associated with the Company in any way. Nor do the sanctions prevent the Company from executing on its M&A strategy as announced. Christian Schaffalitzky, Executive Chairman commented: “The Board notes our focus on BRICS (in particular on Russia, China and South Africa) and Japan in terms of our M&A strategy. More updates are to be provided in due course “.

Glantus Holdings 79p  £29.8m (GLAN.L)

Glantus, the provider of Accounts Payable automation and analytics solutions, announced the appointment of Diane Gray-Smith as Chief Corporate Growth Officer, with immediate effect. Diane joined the Board at IPO in May 2021 as a Non-Executive Director and has worked closely with the executive team since then. In her new role as Executive Director she will be active across the strategic growth of the business with a focus on the fintech space. Diane has spent the past 8 years in growth companies in the fintech sector. She was a founding partner of Public Mint Inc., a start-up that built the first fiat native blockchain, and prior to that was global CFO for Uphold Inc., a next-generation technology-led trading platform. Diane has also spent more than 13 years advising boards and leading finance functions through periods of great change – whether at start-ups, fast-growth concerns, through mergers & acquisitions, fundraising or company restructures.

Personal Group 349p  £109m (PGH.L)

The workforce benefits and services provider, announced the appointment of Hon Colonel Dame Kelly Holmes MBE (mil), Double Olympic Champion, as the Group’s Chief Wellbeing Ambassador. Aligned with this appointment the Company is also significantly extending the wellbeing offering available on its workforce benefits platform, Hapi, with content which Dame Kelly has helped shape. “For many years, Personal Group has been increasingly focused on supporting the wellbeing of workforces – both our own team and the customers we serve – encouraging them to thrive at work and in life. In the next great stride forward in this mission we are thrilled to be appointing Dame Kelly as our Chief Wellbeing Ambassador for this year. She is our inspiration for proving what determination, resilience and taking responsibility for your own mental and physical wellbeing can do. In this role Dame Kelly will be helping to guide Personal Group’s wellbeing strategy, to ensure that our offering remains as meaningful, relevant and impactful as it can be.” Dame Kelly has helped to develop content designed to support people’s physical and mental wellbeing which is being integrated into the existing benefits platform, Hapi, as a new component named ‘Transform’. Transform adds significant depth and breadth to the existing wellbeing offer with content ranging from fitness videos to nutritional recipes and motivational speeches. Current clients can now add Transform into their existing wellbeing packages in order to bolster the proposition for the workforce.

Physiomics* 4.65p  £4.5m (PYC.L)

Physiomics announces that it has been awarded a contract by new client, Ankyra Therapeutics. Ankyra is a Boston-based biotech focused on improving both the safety and efficacy of cancer treatment by using its proprietary anchored immunotherapy platform. Ankyra recently announced a successful US$45m Series B funding round to finance its lead molecule, ANK-101, through Phase 1 clinical trials and has an emerging pipeline of additional immunotherapy-based programs.  Physiomics will be supporting Ankyra with modelling and simulation of ANK-101 in immune-oncology settings in support of its early development. Physiomics will also issue its interim results for the six months ended 31 December 2021 on Monday 7 March 2022 and will provide a live presentation relating to its interim results via the Investor Meet Company platform on Tuesday 8 March 2022 at 2:00pm.

Warpaint London 127.5p  £97.9m (W7L.L)

The specialist supplier of colour cosmetics and owner of the W7 and Technic brands, announces that it has yesterday renewed its contract  with Ward & Hagon Management Consulting LLP  for a period of 24 months, effective 1 January 2022. The Company originally appointed Ward & Hagon, a provider of practical business solutions, in February 2020 to assist it in implementing its strategic growth plan, and the Contract was renewed on  19 February 2021 for a period of 12 months.  During 2021 Ward & Hagon has successfully assisted the Group in developing and implementing its strategic plan by gaining listings for products and widening distribution in the UK.  In addition in 2021, Ward & Hagon assisted with plans for growth in the USA, China and in digital marketing. The Contract has a total value over 24 months of £380k (which will be satisfied from the Group’s operating cash flows) and includes the services of Paul Hagon, an executive director of the Company and Martyn Ward, together with other members of the Ward & Hagon team.  In addition, Ward & Hagon will be paid a commission of 3% on all sales generated from their introductions in the 12 month period from the point of first sale, and 4% on all sales generated from their introductions in the 12 month period thereafter.  Ward & Hagon will also receive a commission of 3% on all Tesco sales from 17 February 2022 for 24 months.

Zenova Group 15p  £14m (ZED.L)

The provider of innovative fire safety and heat management technology  reported on a ‘real-world’ kitchen fire demonstration it recently undertook in test conditions with the assistance of the Dorset and Wiltshire Fire & Rescue Service and Exeter University.  The real-world kitchen fire demonstration concluded that the kitchen prepared using Zenova FP fire protection paint: emitted significantly less heat during the fire; had reduced damage to wall and ceiling substrates, lower levels of charring on the walls; experienced reduced flame spread as the materials beneath the paint used to construct the wall and ceiling did not burn; had significantly reduced fire damage below kitchen counter level; had a reduced heat signature and different fire behaviour; delayed fire spread which would have provided more time for fire service to respond; would have proved much less dangerous to life; used approximately 75% less water to extinguish the fire A short video of the ‘real-world’ kitchen fire demonstration, and a video explaining the thermal camera imagery from the demonstration can be found here.

What’s cooking in the IPO kitchen?

More Acquisitions plc, a new type of special purpose acquisition company, intends to list on the Main Market.  Raising approximately £1.2m. Due 4th March 2022.

Majestic Corporation plc, to join AQSE Growth Market. Majestic is a profitable business recycling precious and non-ferrous metals from obsolete mechanical and industrial material including catalytic convertors, printed circuit boards, legacy electrical and electronic equipment, and industrial metal residues left over from manufacturing. The metals extracted for recycling include gold, platinum, rhodium and palladium. The company uses a network of partners to source, acquire, store, and process material and once the waste precious metal is ready it is supplied to refineries, in countries such as Japan, for reconstitution and resupply in to the global supply chain. Due March 2022.

Shellraise plc, to join AQSE Growth Market. The Company will focus on identifying investment opportunities in companies operating in the viticulture sector which require funding to increase output. Mkt Cap and Capital to be raised TBC. Expected 4 March 2022.

Invinity Energy Systems plc, intends to join AQSE Growth Market. The AIM listed Company (IES.L) manufactures flow batteries for large-scale, high-throughput energy storage requirements of business, industry and electrical networks.

Cleantech Lithium intends to join AIM. The Group is intending to produce lithium using a sustainable direct lithium extraction method, which returns water to its source instead of depleting vital aquifers. Each of the Projects are based in Chile, one of the world’s best regions for solar and other renewable energy. The intention is to utilise renewable energy for process power. The result being that the overall process will have a very low CO₂ footprint potentially giving a critical advantage in the European Union market which has set strict CO₂ emissions limits. Mkt Cap and Capital to be raised TBC. Due 14 March 2022.

GCP Co-Living REIT plc, intends to float on the Main Market. The Company is a  newly established, externally managed investment company, which it is intended will carry on business as a Real Estate Investment Trust, subject to meeting the necessary qualifying conditions. The Company will invest, predominantly, in independent Co-Living Asset, both operational and under development, let to a diversified mix of residents, located in urban centres in the UK and Ireland where there is a shortage of high quality, affordable residential accommodation. Due March 2022.

Spinnaker Acquisitions plc, intends to join the Main Market (Standard). The Company have conditionally agreed to acquire the entire issued share capital of HomeServe Labs Ltd, a wholly owned subsidiary of FTSE250 quoted public company HomeServe Plc, by way of a reverse takeover conditional, inter alia on relisting and successful completion of fundraising activities to be undertaken by way of a placing and direct subscriptions by new and existing investor. If the Proposed Transaction proceeds to completion, it is proposed to change the name of the Company to Ondo InsurTech Plc and the name of Labs, which will become a subsidiary of the Company, to LeakBot Ltd. Should the Proposed Transaction not proceed, then the Company would need to apply for the suspension of its listing of ordinary shares to be lifted and for trading to be restored. £5m capital to be raised. Due early 2022.

Carbon Air, a nano-technology company which leverages the adsorption properties of activated carbon and other advanced materials to improve suspension systems, enhance acoustics or reduce noise, to join AIM. The Company’s proprietary technology has allowed it to develop a unique portfolio of solutions for a variety of sizeable end markets, including vehicle suspension systems, acoustic insulation for domestic appliances and micro-speakers for smartphones. Mkt Cap and Capital to be raised TBC. Due Late March.

Spiritus Mundi due to join the Main Market (Standard), a special purpose acquisition vehicle which will seek acquisition targets in Europe and Asia in the clinical diagnostics sector. The Company has already raised approximately £1.2m in a pre-IPO fundraising round. Delayed until second half of Q1 2022.

Recycling Tech Group to join AIM, a UK-based engineering, research and manufacturing company that has developed a modular and mass producible machine, the RT7000, which processes hard to recycle plastic waste into a synthetic oil that can be sold back to the petrochemicals industry as a chemical feedstock to make new plastics. Targeting a £40m raise. Due early March 2022.

Nu-Oil and Gas  to acquire Guardian Maritime Ltd and Guardian Barriers IP Ltd and become Guardian Global Security plc and join the Main Market (Standard). Guardian is a technology group that supplies products to prevent unauthorised entry into areas that are deemed to have value, with maritime security being the main focus initially. Due Feb.

*A corporate client of Hybridan LLP

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