Small Cap Wrap - Learning Technologies, SIMEC Atlantis Energy and more...

Dish of the dayNo Joiners TodayOff the menuNo Leavers TodayBanquet BuffetJohnson Services Group 129.6p  £479m (LSE:JSG)Proposed £85m placing at 115p.   The Plaing Price represents a discount of approximately 7 per cent. to the 10 day average closing mid-market price of 123.6 pence per ordinary share and 2 per cent. to the 10 day volume weighted average price of 117.5 pence per ordinary s


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Johnson Services Group 129.6p  £479m (LSE:JSG)

Proposed £85m placing at 115p.   The Plaing Price represents a discount of approximately 7 per cent. to the 10 day average closing mid-market price of 123.6 pence per ordinary share and 2 per cent. to the 10 day volume weighted average price of 117.5 pence per ordinary share both ending on 28 May 2020.

“·   Trading for the first two months of the year before the impact of COVID-19 was in line with our expectations but the Group continues to see a significant amount of disruption across its markets.

· Strong financial position maintained due to cash generative nature of business model with appropriate and decisive mitigating actions taken to manage the cost base and protect cash flows.

· £40m Accordion facility extension and revised covenants have been agreed with principal banks.

· The proposed Placing to raise approximately £85 million is intended to improve the Group's liquidity position and further strengthen its balance sheet.

· The Board remains confident in the long-term prospects of the Group.”


Eagle Eye  Solutions 163.5p  £42.1m (AIM:EYE)

Trading update and contract extensions.

· Business responding as anticipated to the COVID-19 lock-down: Supermarket customers remain extremely active, with associated revenue resilient;  All large customer implementations and projects progressing to plan;  Food & Beverage, Leisure and Retail (non-grocery) clients have been impacted, representing a 10% decrease in monthly Group revenue during COVID-19 lock-down period; Cost management actions taken to mitigate revenue impact of COVID-19;  The sales pipeline continues to develop, but as anticipated new contract signings taking longer.

· Contract extensions with Sainsbury's Supermarkets Ltd and Asda Stores Limited

·   Adjusted EBITDA for the year ending 30 June 2020 expected to be at least £0.5m ahead of market expectations

· Continued improvements to cashflow, with net debt tracking better than management expectations. · Current funding position is secure and sufficient headroom remains within the Group's £5m banking facility to support existing growth plans


Learning Technologies p  £m (AIM:LTG)

Results of placing.  £81.8m at 127p.  The Placing, together with the deployment of net proceeds on acquisition targets, would underpin the ability to accomplish the Company's ambitious long term growth strategy and new 2022 strategic goals of circa £230 million revenues and circa £66 million adjusted EBIT on a run-rate basis by the end of 2022, detailed later in this announcement.


SIMEC AtlantisEnergy  7.25p  £31.1m (AIM:SAE)

The global developer, owner and operator of sustainable energy projects, today announces the commencement of the 28-day Pre-Application Consultation ("PAC") for the Uskmouth Power Station conversion project, a planning milestone for the project. The PAC will run from 1 June 2020 to 29 June 2020.   Following completion of the PAC, the PAC report will be submitted alongside the full planning application to the local authority, Newport City Council for determination. The statutory timescale for EIA planning application determination is 16 weeks and therefore the Company expects that NCC would have concluded the determination of the planning application by Q4 2020.


Bonhill Group 9.45p  £9.3m (LSE:BONH)

The B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight, announces that its wholly owned subsidiary, Bonhill Group Inc, has received loans totalling $1.1 million under the US Small Business Administration's Paycheck Protection Program ('PPP') which is part of the Coronavirus Aid Relief and Economic Security Act ('CARES Act').  PPP loans, or a portion of the loan, may be forgivable if the proceeds of the loan are used for eligible purposes, including employee retention and payroll.  The Board currently expects that over two-thirds of the funds received under the PPP loan will be eligible for forgiveness, which will form a significant proportion of the Company's previously announced £1 million US payroll cost savings expected in 2020.


Anexo Group  128.5p  £141m (ANX.L)

Proposed primary placing to raise approximately £7.5 million for the Company. Proposed secondary placing to raise approximately £3.5 million for the Sellers. Placing price of 125p.   9.1% discount to  yesterday’s close. The net proceeds of the Primary Placing will be used to:

o  Expand the advocacy and specialist litigation team with specific emphasis on funding the acquisition and processing of VW emissions cases;

o  Continue recruitment within Legal Services including the opening of a new office in Leeds;

o  Further fleet investment to reposition fleet numbers towards end of 2018 levels; and

o  Strengthen the balance sheet in order to take advantage of other near-term opportunities, including potential acquisitions of WIP books and small legal and credit hire firms.


Botswana Diamonds  0.875p  £5.9m (AIM:BOD)

The company has concluded the processing of two bulk samples taken from the Marsfontein diamond development project in the Limpopo Province of South Africa.  The samples comprised 58-tons of fresh high-interest kimberlite and 62-tons of kimberlitic material from one of the residual stockpiles, known as 'Dump E'.


 · 87 macro diamonds were recovered from the fresh kimberlite giving a modelled grade of 50cpht.

· 24 macro diamonds were recovered from Dump E giving a modelled grade of 16cpht


Marlowe 498p  £229m (AIM:MRL)

Acquisition of Deminos Consulting Limited. Based in Gateshead, Deminos provides subscription-based HR & employment law compliance services to a range of SMEs across the UK. The business will be integrated into Law At Work, the Group's HR, employment law and health and safety compliance operation.


In the year to July 2019, Deminos generated revenues of £1.0m and EBITDA of £0.2m. The total consideration for the business is expected to be £0.7m. The acquisition will be funded from the Group's existing cash and debt facilities.


Smart Metering Services 609.5p  £687.8m (SMS.L)

Smart Metering Systems PLC which installs and manages smart meters and carbon reduction assets to facilitate effective energy management, announced  its plans for a phased and progressive resumption of all non-essential field work from 1 June 2020.


SMS has continued to provide essential and emergency field works to maintain critical national infrastructure and energy supplies since the Covid-19 outbreak and the temporary suspension of non-essential field work announced in March. This remobilisation is expected to be implemented over a period of three months and will see the resumption of non-essential field-based activities, including the installation of smart meters.


SG Recruitment 122p  £14.5m (AQSE:SGRL)

The Company has signed a contract to supply hand sanitiser to the Department of Health & Social Care & NHS England. The Company expects this contract to generate additional gross margins of approximately GBP650,000 for the Company during the current financial year. The contract is for an initial 11 week period with an option to extend .



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