Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Small Cap Wrap - Ovoca Gold; Immotion Group; Alpha FX Group and more...

Small Cap Wrap - Ovoca Gold; Immotion Group; Alpha FX Group and more...

Small Cap Brunch

Set menu

AIM:

Total number of AIM Companies (Incl Susp):

937*

Total number of AIM Companies trading:

866*

*as at close of business  10 July 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

*as at close of business 10 July 2018

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

87*

Total number of NEX Growth Market Companies trading:

84*               

*as at close of business  10 July 2018

*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity

     
 
Dish of the day

Hipgnosis Songs Fund (LON:SONG) Main mkt spec funds — offering pure-play exposure to Songs and associated musical intellectual property rights.  £202m raise at £1

Off the menu  

No Leavers Today


What’s cooking in the IPO kitchen?

AIM

Ovoca Gold (to be renamed Ovoca Bio PLC) - RTO of IVIX, a Russian company developing a drug candidate for the treatment of female sexual dysfunctions. No monies to be raised, market cap of £8.5m, due 30 July

Nucleus Financial—independent wrap platform provider . FYDec17 revs £40.36m and PBT of £5.1m. Offer TBA. Due late July.

Kropz PLC-Intention to float by the  emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa

Immotion Group  - aims to become the market leader in "out of home" Immersive Entertainment Experiences. Offer TBA. Due 12 July

Main Market (Premium)

ASA International— “one of the world's largest and most profitable international microfinance institutions, which aims to enhance financial inclusion among low-income populations throughout Asia and Africa in a socially responsible manner”.  Secondary sell down. No primary. Due July. Offer TBA

  
 
Brunch Buffet

Conroy Gold & Natural resources (LON:CGNR) 13.25p £2.86m

“Significant gold intersections from the seventh and eighth drill holes completed in the current (2018) drilling programme on the Company’s 100% owned Clontibret gold deposit.

Significant Gold Intercepts and Grades:

4.0m @ 7.4 g/t Au (including 1.0m @ 24.4 g/t Au)

7.5m @ 2.2 g/t Au (including 1.1m @ 11.9 g/ t Au)

2.0m @ 5.3 g/t Au

3.0m @ 2.2 g/t Au

These results relating to new drill holes 7 and 8, totalling 402.7m, intersected 10 and 6 gold lodes respectively, with high grade gold and wide intersections.”

“Once again the new drill results confirm further high gold grades with wide intersections. We look forward to providing further updates in the near future.”

 

Orchard Funding (LON:ORCH) 99p £21.14m

“The finance company which specialises in insurance premium finance and the professions funding market, is pleased to announce that it has submitted an application for a bank licence to the Prudential Regulatory Authority and the Financial Conduct Authority.

The Company also announces the appointment of Mr Rajiv Agarwal as Director of Legal and Compliance as well as the appointment of Mr Harsukh Soni, who will be appointed as Chief Financial Officer upon the Application being approved and subject to receiving regulatory approval .”

Mr Soni spent over 7 years as Finance Manager of Sun Bank and nearly 20 years' in senior financial positions at Santander.  Mr Soni spent over 7 years as Finance Manager of Sun Bank and nearly 20 years' in senior financial positions at Santander. 

We could see no forecasts.

 

Alpha FX Group (LON:AFX) 540p £176m

Trading update for the six month period ended 30 June 2018 from the founder led, UK-based foreign exchange service provider,

“The Board is pleased to report that revenue for the period is expected to be approximately £9.6m, representing an increase of over 50% on the corresponding period last year. This performance has been derived from strong growth in our core UK corporate market supplemented by increasing traction in both Europe (with employees based from our London office) and the institutional division which launched in March. The period has seen increased investment across our business, including a number of key hires made in both the corporate and institutional divisions, to support the continuing growth of the business.  Based on the performance in the period and the outlook for the second half, the Board remains confident that earnings for the full year will be in line with expectations.”

FY2018E revs of £17m and EBITDA of £8.43m

 

Swallowfield (LON:SWL) 277.5p £53.9m

The specialist “in the development, formulation and supply of personal care and beauty products, including its own portfolio of brands,  provides a trading update for the 53 weeks to 30 June 2018. “Overall the Group has traded broadly in line with expectations for the full year. We expect Group revenues to be similar to those reported in the prior year, driven by a strong double-digit growth in our Brands business and single digit decline in our Contract Manufacturing business. We expect Group pre-tax profit for the full year to be significantly ahead of that reported last year, driven by the strong performance of our Brands business and reflecting a reduction in LTIP charges, with underlying operating profit marginally behind last year.

FY2018E revs of £76.3m and EBITDA of £6.85m

 

Crusader Resources (LON:CAS) 1.6p £7.9m

Update on the Installation Licence for the Borborema Gold Project.

In parallel with the ongoing work associated with the bankable feasibility study on Borborema, Crusader has now commenced the application process for the full Installation Licence required for mine construction as it approaches the decision to mine on completion of the BFS. This is the only major outstanding permit required to commence mine construction at Borborema.

In the period since admission to AIM, Crusader has completed several measures to improve overall cost efficiencies. These steps included a number of retrenchments at the Juruena Gold Project. In addition, management has proactively scaled back the Company's Brazilian office in Belo Horizonte to essential personnel, as well as moving the Australian corporate branch to a smaller office in Perth.

 

Target Healthcare (LON:THRL) 113.5p £385m

The UK's listed specialist investor in modern, purpose-built care homes, announces that it has completed the acquisition of two properties for a total value of £13.9m.

The Group acquired the freehold of Cantley Grange, a modern purpose-built care home in Doncaster, South Yorkshire. The 40-bed home, which opened in 2007, has full en suite wetroom facilities and is operated by Orchard Care Homes. The home is let on a 35-year full repairing and insuring lease, with 24 years left to run and is subject to annual RPI-linked rent increases subject to a cap and collar. The Group has also acquired a development site and entered into a forward funding agreement in Burscough, Lancashire, just outside Ormskirk. The site has planning consent for an 80-bed care home.  

FY2018E revs of £28.3m and Net Income of £21.5m

 

AfriAg Global (NEX:AFRI) 0.13p £1.9m

The global food and logistics investment group, provides an update on its intention to seek shareholder approval to expand its investment strategy to include investments in the developing markets for medicinal cannabis derivatives, or related products. 

"The legalised global cannabis industry is a fast-growing sector with many international governments now legalising the use of cannabis products for medical use. Since our last announcement on this matter, the Company has engaged experienced UK legal counsel as part of the process of gaining approvals from our regulators to actively engage in this very exciting sector and we now in active discussions with leading global experts in the medical cannabis field to join our advisory board."

 

Allied Minds (LON:ALM) 98.5p £234m

“Allied Minds subsidiary, Precision Biopsy, today announces the appointment of Adam Savakus as COO.

This appointment represents an important investment in Precision Biopsy's regulatory and clinical expertise at a key juncture in its development as its lead diagnostic product, ClariCoreTM, enters a pivotal Cohort B study.

Adam is an accomplished medical device executive with direct experience driving successful operational, regulatory and marketing outcomes. Most recently as Executive Vice President at Relievant MedSystems, he was responsible for clinical and regulatory strategy design and execution for the Intracept device targeted at relief of chronic lower back pain.”

 

Air Partner (LON:AIR) 111p £58.09m

AGM Statement "In our full year results, published on 11 June, we reported that the new financial year had started with a particularly strong performance in Freight and the USA, a flat performance in Commercial Jets, and a slow start for Private Jets UK. Additionally, our more pipeline orientated businesses in Consulting & Training and Remarketing have encouraging order books, which we expect to develop further during the year ahead.  I am pleased to report that since that announcement we have seen increased strength in Commercial Jets.  We remain confident about the Group's prospects for the remainder of the year. We have a strong net cash position and while we will incur a material one-off cost of £1.3m in the current year as a result of the recent accounting review, we are determined to realise value from that unexpected cost by learning from its findings“.   FY2019E revs of £50.3m and EBITDA of £7.22m

Hybridan LLP 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 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 should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute  “independent investment research” for the purposes of the Financial Services Authority (FSA) rules. The individuals who prepared this document 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, directors, 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 UK, 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 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the FSA) 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 persons who would be classified as Retail Clients (as defined by the rules of the FSA). 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 UK or US securities law, or the law of any such other jurisdictions. 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, directors, 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. Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP. Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Services 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.

 

Proactive Investors Limited Disclaimer

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

 

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

 

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

 

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use