Hybridan Small Cap Feast

Joiners: No joiners today.

Leavers: No leavers today.

Banquet Buffet

Arbuthnot Banking 900p  £134.7m (ARBB.L)

The Company announces the appointment of Frederick Angest as a non-executive director with effect from 1 September 2022. Frederick Alexander Henry Angest, aged 27, son of Sir Henry Angest (CEO of Arbuthnot Banking Group), works at Arbuthnot Latham. Frederick Angest, is one of the potential future beneficiaries of a trust which holds 56.1% of the ordinary voting shares in the Company (excluding shares held in treasury). The current beneficial owner is Sir Henry Angest. The Company also announces that Sir Nigel Boardman, an independent non-executive director of the Company since June 2019, has agreed to take on the role of Chairman of the Group’s principal subsidiary, Arbuthnot Latham.

Arricano Real Estate SUSPENDED (ARC.L)

The real estate developer and operator of shopping centres in Ukraine announces its audited results for the year ended 31 December 2021. Revenue increased by 15% to USD 37.2m (2020: $32.3m). Net profit increased by 88% to $37.9m (2020: $20.2m) largely due to the gain on revaluation of investment property of $29m, which was primarily related to an increase in rental incomes. The Company has integrated the concept of sustainable development into its long-term strategy and adopted a new ESG policy. Despite the war in Ukraine (which began post year-end), Arricano’s shopping malls have remained open and continue to trade, albeit at reduced volumes.

Belvoir Group 235p  £87.6m (BLV.L)

The UK property franchise and financial services group, provides an update ahead of publishing its half-year results on 5 September 2022. Group revenue during the six months to 30 June 2022 increased by 11% on 2021. Cash balances grew slightly to £5.2m (H1 2021: £5.1m) and bank loans of £8.3m (H1 2021: 9.1m). Net debt of £3.1m, went up by £1.8m, after the acquisition of Mr and Mrs Clarke Limited and The Time Group Limited for initial cash consideration of £3.9m. The Group is trading in line with management’s expectations for the year ending December 2022.

DeepVerge 16p  £35.2m (DVRG.L)

DeepVerge’s subsidiary Modern Water, announces new orders worth £2.1m using All Membrane Brine Concentration technology to treat technically challenging wastewater for chemical plants in India and provide desalinisation services in North Africa. These orders are expected to be delivered in the current financial year and into 2023. The projects will be undertaken with Ion Exchange (India) Ltd (BSE:IONEXCHANG) for expertise in water engineering in Asia and has recently appointed partner Al Amaq Holding Co, an engineering firm focused on the North African market.

e-Therapeutics 22.1p  £113.5m (ETX.L)

The specialist in computational drug discovery with a focus on developing RNA interference therapeutics, announces the filing of 8 further patent applications in the United States to protect innovation arising from e-therapeutics’ proprietary GalNAc-siRNA technology (used to silence any gene in liver hepatocytes). The patent applications relate to innovation arising from its pipeline of pre-clinical siRNA candidates in several therapeutic areas. This follows 11 patent applications filed to protect proprietary and novel GalNAc-siRNA silencing construct designs in May 2022.

NAHL Group 34.5p  £16m (NAH.L)

The marketing and services business focused on the UK consumer legal market, provides a trading update for the six months to 30 June 2022. Revenues are expected to increase by 6% to £20.8m (H1 2021: £19.5m), while underlying operating profit is expected to decrease by approximately 8% to £2.3m (H1 2021: £2.5m) due to the planned investment in its integrated law firm, National Accident Law (NAL). Net debt was reduced 7% to £14.5m. The Board expects the Group to meet market expectations for the full year.

ReNeuron Group 27p  £15.4m (RENE.L)

The UK based Proprietary Stem Cell based Exosome Technologies company announces the appointment of Catherine Isted, ACMA, as Chief Executive Officer, effective 1 September 2022. Ms Isted joined the ReNeuron Board as Chief Financial Officer in October 2021. Following the departure of the former CEO in February this year, Ms. Isted has worked closely with the Executive Management team, to refocus the business around the Group’s differentiated exosomes delivery platform. Ms Isted joined ReNeuron from Oxford Biomedica plc. She has also held senior research analyst and equity sales positions in the Healthcare teams at Morgan Stanley, ABN AMRO, Nomura and Peel Hunt.

Symphony Environmental Technologies* 17.5p  £30.9m (SYM.L)

The specialist in technologies that make plastic and rubber products smarter, safer and sustainable, announces a trading update for the six months ended 30 June 2022. Revenue was £3m, down 39% (H1 21: £4.9m), due to short term logistics and resources issues, etc. However, the Board remains confident that the full-year results will be in line with market expectations. Meanwhile, the Company announced an equity raise of £1m from its strategic investor, Sea Pearl, 100% owned by Mrs Shruti Lohia, daughter of the Chairman of Indorama Corporation, Singapore. Symphony has a joint venture in India with Indorama.

Thor Mining 0.5p  £9.6m (THR.L)

The exploration and development company announces the commencement of a close spaced airborne survey over the north-eastern portion of its 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia. To complement the 2021 survey to provide coverage over the entire Ragged Range Project, this survey is designed to map out the key lithological boundaries, potential pegmatites and prospective structures controlling mineralisation associated with copper-gold mineralisation at Kelly’s Prospect. Once complete, the next exploration step is the continuation of mapping and sampling in the lithium prospective goldilocks zone, rock chip sampling of prospective structures at the Kelly’s Cu-Au Prospect and the design of drill sections to test the Kelly’s South gold zone.

Trellus Health 10p  £16.2m (TRLS.L)

The developer of a scientifically validated, resilience-based, connected health solution for chronic condition management, announces the appointment of Stephen (Steve) Young as Interim Chief Financial Officer, with immediate effect. Steve joins Trellus in a non-Board capacity. Steve has prior CFO experience at AIM-listed companies and previously held the position at both Pure Wafer plc and British Biocell International (formerly BBI Holdings plc). Steve joins Trellus from Axiom Manufacturing Limited.

What’s cooking in the IPO kitchen?

Inteliqo Limited, intends to join the Aquis Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners under long-term distribution agreements. The Company has agreed its first such agreement in respect of the Ipedia iQ product range. The iQ product is a smart translation earphone (earbuds) system which offers integrated real time speech translation in 42 languages, built in smart assist (google and siri), multiple built-in microphones and high-definition sound. Expected 5 August.

Unigel Group, intends to join the Aquis Growth Market.  Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports to over 40 countries and is a key supplier to almost every leading fibre optic cable manufacturer worldwide and is the industry’s only organisation with multiple manufacturing facilities spread across 3 continents. The Company acts as the holding company for its wholly-owned operating subsidiary, Unitape Limited and its 60% owned operating subsidiary, Unigel (UK) Limited. Delayed, timing TBC.

Georgina Energy, an early-stage resource company with a strategy of actively pursuing the exploration, commercial development and monetisation of helium, hydrogen and hydrocarbon interests located in the Amadeus and Officer Basins in Northern and Western Australia intends to join AIM. Georgina Energy has two principal onshore interests. The first, the Mount Winter Prospect is located in the Amadeus Basin in Northern Australia, which the Company has a right to earn an initial 75% interest. The second interest, the Hussar Prospect is 100% owned by the Company and is located in the Officer Basin in Western Australia. Expected late September.

*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).