20 August 2020
*A corporate client of Hybridan LLP
Dish of the day
AQSE (TSP) admission—TruSpine is a medical device company in the spinal device market. The Company is developing disruptive technologies to for use in the spinal stabilisation market, commencing with the following three devices: Cervi-LOK - for the cervical and upper thoracic spine Faci-LOK - for the lumbar and lower thoracic spine, and GRASP Laminoplasty - a treatment for decompression of the spinal cord. AQSE admission today. Raised £1.65m at 36p. Mkt cap £31.6m.
Off the menu
No Leavers Today
What’s cooking in the IPO kitchen?
Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.
Banquet Buffet
EKF Diagnostics 56p £256m (LON:EKF)
EKF Diagnostics Holding, the point-of-care business, has made a US$5m investment into Trellus Health Limited, a resilience-driven digital health solution for complex chronic conditions. The investment will be used to support the newly incorporated Company's work to transform the way chronic conditions are treated, with an initial focus on Inflammatory Bowel Disease (IBD), including Crohn's disease and ulcerative colitis. As previously announced, EKF and Mount Sinai Innovations Partners, entered into a relationship to identify technologies to advance a novel digital health platform for early intervention and better care management for patients with IBD, resulting in the formation of and investment into Trellus Health.
Union Jack Oil 0.295p £45.6m (LON:UJO)
The UK focused onshore hydrocarbon production, development and exploration Company, notes that Rathlin Energy (UK) Limited, the Operator of PEDL183, will shortly be communicating an update to local residents and the West Newton Community Liaison Group. Union Jack holds a 16.665% interest in PEDL183, containing the conventional West Newton A-1 discovery well and the successful West Newton A-2 appraisal well. Beverley-based onshore energy operator Rathlin Energy (UK) Limited has submitted Screening Requests to East Riding of Yorkshire Council for two new potential hydrocarbon wellsites, West Newton C and West Newton D. This is the first step of the planning process to further explore and appraise the West Newton hydrocarbon field and will determine whether planning application submissions for West Newton C and West Newton D will require environmental impact assessments. The Screening Opinions will be available following the consideration of the East Riding of Yorkshire Council planning department, which is currently in progress.
Falcon Oil & Gas 7.7p £75.6m (LON:FOG)
Update on the Beetaloo project in the Northern Territory, Australia. Kyalla liquids-rich gas play
In February 2020, the Kyalla 117 N2-1H ST2 well (Kyalla 117) was drilled to a total measured depth of 3,809 metres, which included a 1,579 metre lateral section in the Lower Kyalla Formation. Results obtained demonstrated good reservoir continuity, conductive natural fractures and continuous gas shows. In March 2020, operations in the Beetaloo Basin were paused in response to the COVID-19 pandemic. The Ensign rig was secured and maintained locally, and by mid-May all personnel had left the Kyalla 117 well site. Subject to COVID-19 related conditions, fracture stimulation of Kyalla 117 is expected to commence in Q3/Q4 2020 with extended production testing of the well to follow. Initial results from the production test are expected during Q4 2020 with final results expected by the end of Q1 2021. These results will inform the decision to either further evaluate this liquids-rich gas play or commence activities in the Velkerri liquids-rich gas play.
Shearwater 7.7p £75.6m (LON:SWG)
The organisational resilience group, announced a trading update following publication of the Group's final results in July 2020. This update is provided in response to the continued macro-economic uncertainty and reflects Shearwater's commitment to shareholder communication. The Group continues to generate good levels of revenue, in line with expectations, driven through contract renewals from its existing customer base and supplemented by new business wins. New business wins this financial year include contracts secured with two existing clients: a global bank providing a three year cyber service and protection solution, and a UK based multimedia services and telecom provider, to carry out additional data base protection and monitoring services in additional regional locations. Underlying EBITDA profit is also tracking in line with expectations, reflecting the benefit of the Group's focus on increased efficiencies and higher margin offerings across both its software and services divisions. With a continued focus on prudent cash management this has led to high levels of cash conversion.
Immedia Group 13.5p £1.97m (LON:IME)
The supplier of multi-media content and digital solutions for leading brands and global businesses, announces that it has conditionally raised gross proceeds of £1.1m. The pandemic has halted the encouraging start to 2020 to which the Group referred in its Covid-19 trading statement released on 6 April 2020. In light of the ongoing uncertainty around the 2020 outturn because of Covid-19, the Directors now consider it prudent to introduce new capital to the Group. The issue price of 0.1p represents a discount of approximately 31.0% to the mid-market closing price of £0.145.
Inspiration Health 67p £45.5m (LON:IHC)
The global medical technology company further updated on the status for the delivery of ventilators as the UK National Health Service demand for Covid ventilators likely diminishes, the Group continues t o satisfy the orders received from the UK National Health Service announced on the 16th and 20thMarch 2020 with a value totalling approximately £5m. In the last few days the Company delivered a further £1m of the orders, taking the total amount delivered under these contracts to £3m.
Maestrano Group 11p £16.1m (LON:MNO)
The Artificial Intelligence platform for transport corridor analytics, announces the signing of a joint distribution agreement with Netherlands-based UAV (unmanned aerial vehicle or drone) producer Acecore Technologies. The partnership is expected to substantially increase the distribution networks and sales volumes for both companies.
7digital Group 3.3p £80m (LON:7DIG)
The global leader in B2B music solutions and services, today announces a contract commencing in August 2020 and continuing into 2021 with a global technology company to provide access to the Company's global music catalogue, tracking, and reporting services in support of new music-based experiences. The new partner will use 7digital's platform to access a world-wide music catalogue from rights-secured labels, and the new deal also includes tracking and reporting services.
reach4entertainment 0.31p £3.96m (LON:R4E)
Further to reports in the media, reach4entertainment enterprises plc, the integrated international marketing group in the live performance and entertainment markets, confirms that the Company's subsidiary Spot and Company of Manhattan filed suit on 5 August 2020 to recover at least $6.3m that consists of money owed to SpotCo by a client or that SpotCo's client owes to media outlets for which SpotCo does business. On 14 August, the client filed a separate complaint against SpotCo which SpotCo will vigorously defend. The Company continues to believe that all amounts sought by SpotCo are recoverable. Further announcements will be made as and when necessary.
Intercede Group 84p £42.4m (LON:IGP)
Further to the contract win that was announced on 30 July 2020, Intercede, the leading specialist in digital identity, credential management and secure mobility, announced the receipt of an initial progress order in excess of $1.0m. As previously announced, the new contract win follows Intercede's involvement in a successful bid to create an innovative Identity Management System (IDMS) solution compliant with Homeland Security Presidential Directive 12 (HSPD-12) for the US Department of State (DoS) and its customers. The ten-year, multi-million dollar contract will see Intercede's MyID software issuing and managing the lifecycle of hundreds of thousands of DoS employee digital identities as part of the agency's next-generation IDMS implementation.
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