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Breakfast News - Ergomed; Hummingbird Resources; Zoo Digital Group and more...

Small Cap Breakfast

Set menu

AIM:

Total number of AIM Companies (Incl Susp):

938*

Total number of AIM Companies trading:

889*

*as at close of business 27 June 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 28 June 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 28 June 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

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Off the menu

Magnolia Petroleum has cancelled its quoting on AIM following the disposal of its assets.

Laird PLC has cancelled its listing on the Main Market following its acquisition by AI Ladder Limited

What’s cooking in the IPO kitchen?

NEX Exchange

Monreal PLC—AIM cash shell moving to NEX by taking advantage of opportunities to invest in the technology, media, and telecom (TMT) sector. Due 03 July

Ananda Developments— Company has been established to invest in the developing market for medicinal or therapeutic Cannabis derivatives, or related products. Raising £750k at 0.45p with market cap of £1.3m. Due 04 July

AIM

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

Yellow Cake will use its expertise to generate value through the ownership of physical U3O8 (Uranium) together with a range of activities and opportunities connected with owning physical U3O8. Acquiring supply contract for up to $170m. Due Early July.

Strongbow Exploration (TSX:SBW) intends to dual list on AIM. Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.

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

Ashoka India Equity Investment Trust—Target raise £100m. India focussed high conviction, long-only IT. Due mid July.

Main Market (Specialist Funds)

Hipgnosis Songs Fund— offering pure-play exposure to Songs and associated musical intellectual property rights . Targeting £200m raise. Due 11 July

Tritax EuroBox raising up to £300m. “Will provide an opportunity for investors to gain exposure to a portfolio of well located Continental European logistics real estate assets”. Due 9 July.

Brunch Buffet

Ace Liberty & Stone (AQSE:ALSP) 105p £42.1m

The directors of Ace Liberty and Stone Plc, the active property investment company, capitalising on commercial property investment opportunities across the UK, announced the following property transactions.

The Company has completed the purchase of office properties at Tweedale House, Union Street, Oldham and at Brocol House, King Street, Wigan at a combined price of £6.4m. The rents are, respectively £245,155 p.a. and £352,294 p.a. Both properties are occupied by the Secretary of State for the Department for Communities and Local Government.

This acquisition has also been financed by Coutts & Co with an advance of £4.16m

"These purchases mark a significant step in our development completing our investment of the funds raised in 2017 and early 2018 from the issue of Convertible Loan Notes".

Abzena (LON:ABZA) 9.25p £19.49m

Abzena, the life sciences group providing services and technologies to enable the development and manufacture of biopharmaceutical products, has signed GMP manufacturing and bioconjugation agreements with Telix Pharmaceuticals Limited. The agreements have a combined value of $5.9m and these projects are expected to be substantially completed within a 15 month period.

Telix is a biopharmaceutical company specialising in the development and commercialisation of radiopharmaceuticals for diagnostic imaging and therapeutic use.

Under the terms of the agreements Abzena will progress two PSMA-targeting monoclonal antibodies for the purposes of targeted treatment of metastatic prostate cancer. This agreement builds on the July 2017 announcement in which it was disclosed that Abzena had granted a license to specific antibody-related IP that has been incorporated into Telix's PSMA radiopharmaceutical program, which, subject to successful development, could deliver significant licence fees and milestone payments to Abzena over its lifetime.

Hummingbird Resources (LON:HUM) 30.75p £107.04m

Hummingbird Resources announced the start of an exploration drill campaign on its mining permit in Mali and provide an update of the results of a study on the underground potential at Komana East, below the open pit Yanfolila Gold Mine, carried out by DRA Projects (Pty) LD.

The new exploration drilling is targeting conversion of Resources to Reserves, extending the mine life at Yanfolila;

Four rigs are on site and will be drilling over 50,000m across six existing deposits on the mining permit, all in close proximity to the Yanfolila processing plant;

Komana East Underground Study shows potential for an economic underground mine with 113,000 ozs of producible gold in addition to the existing mine plan;

Operations are continuing on schedule, at the Yanfolila Gold Mine, and mining has commenced at Komana West

Plus500 (LON:PLUS) 1,648p £1,839.6m

Plus500, a leading online service provider for trading CFDs internationally announced that due to a strong Q2, the Board has again materially increased its expectations for the Group's financial performance for the year ending 31 Dec 2018.

Although, as previously reported, market conditions for trading volumes and new customer acquisition returned to more normal levels in Q2 in comparison with Q1, geopolitical events particularly regarding US import tariffs have resulted in higher than expected levels of market volatility. This has resulted in a strong trading performance in the period.

Following the recent regulatory changes announced by ESMA, due to be implemented by August 2018, Plus500UK and Plus500CY began evaluating their respective customer bases regarding Elective Professional Client (EPC) status in Feb 2018 and consider 12% of its customers in the EEA may be eligible for EPC status. Given that this 12% generate in aggregate approximately 75% of the Group's EEA revenue, the Board believes that the Group's EPC offering puts it in a strong position to maintain revenue from those customers following the implementation of the new ESMA rules.

At the same time, the Group continues to diversify those revenues which are outside the EEA, reflecting its new licences, especially in Singapore, which was gained towards the end of 2017.

Kromek (LON:KMK) 23.5p £61.84m

Kromek, a radiation detection technology company focusing on the medical, security screening and nuclear markets, announces its final audited results for the year ended 30 April 2018.

Revenue increased 32% to £11.8m (2016/17: £9.0m)

Product sales accounted for 81% of total revenues (2016/17: 74%), a growth year-on-year of 44%

Gross margin was 56.4% (2016/17: 57.1%)

EBITDA was £0.5m profit (2016/17: £1.5m loss)

Loss before tax for the year was £2.5m (2016/17: £3.8m loss)

Cash and cash equivalents at 30 April 2018 were £9.5m (31 October 2017: £15m)

Milestone year as revenue growth from ramp-up in commercial activities enabled Kromek to achieve EBITDA positive for the first time

Growth due to continued delivery on previously-signed agreements as well as commencing delivery on new high-value contracts won during the year

Secured new purpose-built premises for Kromek's US operations in Pittsburgh, which will enable the facility to become a world-leading manufacturer of SPECT cameras

Ergomed (LON:ERGO) 187p £80.75m

Ergomed Plc, a company focused on providing specialised services to the pharmaceutical industry, today announces a change to its Board and management team with the appointment of Stuart Jackson as CFO with immediate effect.

Stuart brings with him 20 years' experience at CFO level, having managed companies on the London, NASDAQ and Oslo Stock Exchanges. He has significant international experience in early stage and growth companies as well as managing significant and complex change projects. Stuart's experience has been gained primarily in the energy and technology/ telecommunications sectors where consistent project service delivery across a number of geographies has been a key feature of business success.

He was CFO at Acergy SA responsible for the financial restructuring of the business and implementation of the new business strategy which took Acergy from $0.1bn to $6.0bn market capitalisation over a four year period. More recently he was CFO at CEONA, a Goldman Sachs Capital Partners group of companies, where he was responsible for the early stage set-up and growth of the business and Bibby Offshore Holdings Limited where, as CFO, he also managed the strategic development and M&A activities and oversaw its recent recapitalisation.

ZOO Digital Group (LON:ZOO) 93.5p £69.36m

ZOO Digital Group plc, the provider of cloud-based localisation and digital distribution services for the global entertainment industry, announced its audited financial results for the year ended 31 March 2018.

Revenue increased by 73% to $28.6m (2017: $16.5m)

Adjusted EBITDA increased by 35% to $2.4m (2017: $1.8m)

Operating profit increased to $0.6m (2017: $0.5m)

Reported Loss Before Tax of $5.0m (2017: profit $0.5m)

Adjusted PBT increased to $0.5m (2017: loss of $0.1m)

Growing adoption and demand for subtitling services, with revenue almost doubling in the year

Successful launch of industry's first cloud-based dubbing service, with good uptake from existing and new customers

Growing international network of over 4,000 international freelancers and 8 affiliates across 10 locations

Ongoing supportive market dynamics, with the increase in digital entertainment content and expansion of distribution channels driving a growing demand for high quality and scalable content localisation and digital packaging services

Lionsgold (LON:LION) 2.65p £13.58m

Lionsgold, the gold company focused on the exploration, production and retail application of physical gold, including the development of the gold currency GOLDBLOC®, is pleased to provide the following update

GOLDBLOC® mobile phone banking app ready for live test environment

Mastercard debit cards live testing underway

GOLDBLOC® is a unit of gold held in a current account (1 GOLDBLOC® is 1/1,000th of a gram)

Scope of opportunity as alternative mainstream currency expanded during development

Pilot release to occur in July for first 200 customers using iOS devices (Apple iPhone)

Advanced Oncotherapy (LON:AVO) 47.5p £73.92m

Advanced Oncotherapy, the developer of next-generation proton therapy systems for cancer treatment, announces that Dr Sanjeev Pandya, Dr Euan Thomson and Prof Chris Nutting have stood down from the Board. Dr Thomson and Prof Nutting will continue to contribute to the Company's development by becoming members of the Medical Advisory Board.

In addition, the Company has agreed that, subject to completing the requisite due diligence procedures, it will appoint Mr. Peter Sjostrand, Mr. Gabriel Urwitz, Mrs. Zhang RenHua, Mr. Chunlin Han and Dr Yuelong Huang as Non-Executive Directors.

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