Proactive Investors - Run By Investors For Investors

Small Cap Breakfast News - Serinus Energy; Reneuron Group; Prospex Oil and Gas

Small Cap Breakfast News - Serinus Energy; Reneuron Group; Prospex Oil and Gas

Set menu

AIM:

Total number of AIM Companies (Incl Susp):

897*

Total number of AIM Companies trading

826*

*as at close of business  25 April 2019

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

161*

Total number of Standard List Companies trading:

141*

*as at close of business 25 April 2019

 

NEX Growth Market:

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

89*

Total number of NEX Growth Market Companies trading:

87*               

*as at close of business 25 April 2019                          

*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

No Joiners Today

Off the menu      

No Leavers Today                                                      

 

What’s cooking in the IPO kitchen?

Main Market

Finablr plc— global platform which provides Cross-Border Payments and Consumer Solutions, Consumer Foreign Exchange Solutions and B2B and Payment Technology Solutions to consumers and businesses in the large and growing payments and foreign exchange market is looking to list on the Main Market plans to raise $200m

 

Main Market (Standard)

IMC Exploration Group (NEX: IMCP), focused on acquiring and exploring prospecting licence areas which have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. Expected 11 June 2019

AIM

Techniplas –global  producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient.  FYDec17 rev $515m.

Loungers PLC—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer to raise £83.3m at 200p with market cap of £185m, expected 29 April 2019.

SDX Energy plc (AIM:SDX) —a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m

Renold plc (LON:RNO) —a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019.

Distribution Finance Capital Holdings plc — specialist lender which builds relationships with manufacturers and then provides working capital solutions up and down their supply chains to drive their growth is looking to join AIM. No raise, secondary offering of £19.8m at 90p, expected market cap of £95.98m. Expected 09 May 2019.

Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected 25 June 2019

      

Banquet Buffet

Serinus Energy (LON:SENX) 10.4p £24.4m

Serinus Energy announced  production has commenced at the Moftinu  Gas Plant in Romania.

Gas from the Moftinu 1003 production well has been flowed through the gas plant into the sales gas pipeline. The processed gas meets the water dew point and hydrocarbon dew point specifications set by the Romanian National Gas Transportation Company, Transgaz.

The Company will follow a conventional start-up program whereby production parameters and plant performance will be stabilized, after which gas from the Moftinu 1007 well will also be brought onto production and flowed through the gas plant.  During the start-up and stabilization period gas will be sold on a daily basis. Following the start-up period, and once gas volumes are more regular, gas will be sold on a monthly basis as per the previously announced Gas Sales Agreement.

 

High Growth Capital (NEX:HASH) 1.525p £66.1m

Appointment of Mark Robert Angele De Smedt as Chief Executive and Director. Mark (Belgian national, aged 57) brings a wealth of experience from senior executive management roles at some of the world's leading global businesses. Mark was until very recently an executive committee member at The Adecco Group, the HR services industry leader where he held various roles including those of Chief HR Officer and Head of Northern Europe.

Hitherto, Mark held executive positions in sales, operations and general management at Apple, Citibank and Scoot in Europe. Mark graduated as a Commercial Engineer from Solvay Business School  and completed executive programs at Harvard Business School, INSEAD and the London Business School. High Growth Capital engages in seeking complementary disruptive investments in technology, content and internet investments that, over time, have the ability to emerge as market leaders in their areas of focus and application.

 

EU Supply (LON:EUSP) 11p £7.28m

FYDec18 results from the e-procurement software provider.

Revenue up 10% to £5.1m

70% of revenues estimated to be of recurring or repeatable nature at year-end (2017: 66%)

PBT of £0.4m (2017: loss of £0.2m)

Cash balance of £0.9m at 31 Dec 2018 (2017: £0.7m)

New routes to the German market opened and expected to generate additional rev­enue

Successful fundraising provided liquidity to develop new services in the medium-term.

“Our highest ever rate of increase in annual recurring revenue run rate has been secured already in 2019 with annualised values of contracts in aggregate of approximately £620k being signed this year, and this without any higher staffing levels.”

 

Xeros Tech Group (LON:XSG) 11p £25.04m

The developer and provider of water saving technologies with multiple commercial applications, signed an exclusive agreement to develop and license the Group's domestic and commercial washing machine technologies to IFB Industries Limited ('IFB'). IFB is the leading domestic appliance and commercial laundry equipment supplier in South Asia and is listed on the National Stock Exchange of India.

The Development and Licensing Agreement has a 10 year duration and covers the incorporation and commercialisation of Xeros' water saving XOrb™ and XDrum™ technologies into selected ranges of IFB's domestic and commercial sized washing machines.

Xeros will receive immediately a one-off exclusivity fee and during the development phase further payments when various milestones are reached.

 

Inspirit Energy Holdings (LON:NSP) 0.05p £0.43m

The developer of micro Combined Heat and Power ("microCHP" or "mCHP") boilers, updated shareholders following a strategic review of operation and product development.

As set out in the Company's half year report, the Company has been working to advance its microCHP boiler towards commercialisation.

In Dec 2018, the UK Government introduced legislation which will close the Feed-in Tariff (FIT) scheme to new applicants from 1 April 2019. 

To this end, the company has been focusing on improvements to the design of the Company's Stirling engine technology and creating a strategic plan for future operations, cost efficiencies and product diversification.

Improvements and efficiencies have provided the Charger with peak electrical output in excess of 6.4kW of electricity during a running cycle of 2,000 hours against the unit's previous output of 3.0kW, whist maintaining 15kW thermal output and a 20% reduction in the size of the appliance to below 800mm.

 

Van Elle (LON:VANL) 44.5p £35.6m

FY Apr 19 update from the geotechnical engineering company offering a wide range of ground engineering techniques and services to customers in a variety of UK construction end markets.

The business continues to make good progress on its transition plan, announced in Jan 2019. In terms of current year performance, the Group has experienced a level of uncertainty in its markets, particularly in the infrastructure sector, in the latter part of the year. This has meant that, despite encouraging progress in winning work, some contract award and start dates have been delayed by customers. As a result, whilst volumes in the fourth quarter have been the strongest of the year to date, sales for the full year are expected to fall short of levels previously expected by circa 3%. This reduction in forecast sales for the current year is expected to result in the Group delivering full year adjusted PBT slightly below the lower end of the range of market expectations.

Reflecting the improved commercial approach, which is focussed on longer term partnerships, the Group has a record current order book of £35m

 

Reneuron Group (LON:RENE) 302p £82.95m

The specialist “in the development of cell-based therapeutics, is pleased to announce updated positive preliminary data in the Company's ongoing Phase 1/2a clinical trial of its human retinal progenitor cell (hRPC) therapy candidate in the blindness-causing disease, retinitis pigmentosa (RP).  All three subjects in the first cohort of the Phase 2a element of the study have demonstrated a sustained and further improvement in vision compared with their pre-treatment baseline.

These latest results are being presented today by Jason Comander MD, PhD, Associate Director, Inherited Retinal Disorders Service, Massachusetts Eye and Ear, and Assistant Professor, Harvard Medical School, at the sixth annual Retinal Cell and Gene Therapy Innovation Summit in Vancouver, Canada, which precedes the 2019 annual meeting of the Association for Research in Vision and Ophthalmology (ARVO) taking place on 28 April - 2 May.”

 

Prospex Oil and Gas (LON:PXOG) 0.22p £2.5m

Operator, Po Valley Energy Limited, has informed its partners of a substantial upgrade to the resource estimate for the Podere Gallina Exploration Permit and specifically the Selva gas field resources in the Po Valley region of Italy to 14.1bcf contingent resources ('2C') and 91.5bcf prospective resources (best estimate).  Previously gross resources for Podere Gallina stood at zero 2C resources and 52.7bcf prospective resources, alongside 13.3bcf of 2P reserves.

Upgraded resources are in addition to gross 2P reserves of 13.3 bcf already assigned to Selva by CGG

Prospex's 17% interest equates to 2P reserves of 2.26 bcf; 2C resources of 2.40 bcf; and prospective resources of 15.56 bcf net to Prospex - providing significant asset backing 

Prospex's 17% interest equates to 2P reserves of 2.26 bcf; 2C resources of 2.40 bcf; and prospective resources of 15.56 bcf net to Prospex - providing significant asset backing

Production at Selva remains on course to commence in 2020 at a gross rate of up to 150,000 cubic metres per day 

 

PureTech Health (LON:PRTC) 182.5p £536.7m

The advanced biopharmaceutical company developing novel medicines for dysfunctions of the Brain-Immune-Gut (BIG) axis, is pleased to note that its affiliate, Karuna Therapeutics, Inc. , today announced that it has previously confidentially submitted a draft registration statement on Form S-1 with the United States Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

Karuna Therapeutics is a clinical-stage company targeting muscarinic cholinergic receptors for the treatment of psychosis and cognitive impairment across central nervous system (CNS) disorders.

 

Armadale Capital (LON:ACP) 1.18p £4.41m

Progress update in respect of its Tanzanian Mahenge Liandu Graphite Project Definitive Feasibility Study.

Received final Environmental and Social Impact Assessment report from external consultants – favourable findings

Completed decommission implementation plan considering options on how to utilise the site after mining is completed

Received Relocation Action Plan (“RAP”), principally to engage with the local community

On schedule to submit final ESIA Report and RAP to the National Environment Management Council of Tanzania by the end of April 2019

 

 

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 Conduct Authority 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 Financial Conduct Authority) 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 Financial Conduct Authority).

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 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.

© Proactive Investors 2019

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