Small Cap Wrap - Next Fifteen Comms, Induction Healthcare, AFC Energy and more...

What’s cooking in the IPO kitchen? Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List  The Hut Group.  Expected intention to float on the Main Market.

Next Fifteen Communications Group PLC - Small Cap Wrap - Next Fifteen Comms, Induction Healthcare, AFC Energy and more...

1 Sep 2020

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What’s cooking in the IPO kitchen?

Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List 

The Hut Group.  Expected intention to float on the Main Market. THG is a vertically integrated digital-first consumer brands group, retailing its own brands in beauty and nutrition plus third party brands, via its proprietary technology platform to an online and global customer base. For the year ended 31 December 2019, THG's revenue was £1.1 billion, up 24.5 per cent. year-on-year, and its Adjusted EBITDA was £111.3 million, representing an Adjusted EBITDA margin of 9.8 per cent . The Company has experienced an acceleration in growth during 2020, with revenue of £676 million, up 35.8 per cent. on the equivalent prior year period , achieved in the 6 months to 30 June 2020, which the Directors believe evidenced the non-discretionary nature of the nutrition and beauty categories .

Kooth  is the UK's largest digital mental health provider to the NHS for children and young people (CYP) aged 10-25 years old by providing a broad range of therapeutic tools and interventions.   £16m raise. Due 2 September on AIM.  Mkt cap expected £66m.

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

 Next Fifteen Comms 462.5p  £419m (LON:NFC)

Next 15 Communications Group plc has acquired Mach49, the Silicon Valley-based growth incubator for global businesses. Signaling an important strategic move for Next 15, Mach49 will become the cornerstone of its previously announced plans to create a $100m revenue innovation business to work alongside Next 15’s market leading data, technology and brand marketing businesses to help global leaders create and execute disruptive growth strategies, shake up existing markets and open new ones. Mach49 which has annual revenues of approximately $13m, currently has offices in Silicon Valley, Boston, London and Singapore serving Global 1000 clients such as Schneider Electric, Pernod Ricard, TDK, Stanley Black and Decker and many others.


Induction Healthcare  87.5p  £36.8m (LON:INHC)

Healthcare technology company that helps healthcare professionals deliver better care more efficiently, today announces that Horizon Strategic Partners Limited has achieved its earn-out target ahead of schedule following its acquisition by the Company, announced on 6 November 2019. 

Since acquisition, Horizon's platform MicroGuide has grown revenue and delivered +32.0% YoY growth in registered users and +44% YoY growth in guideline page views as at 27 August 2020. 

As part of the purchase agreement and as a result of Horizon achieving its earn-out target, a deferred contingent consideration of £1.5 million will be paid in cash. 

MicroGuide is the UK market leader, enabling medical organisations to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. The platform helps over 170,000 registered users in multiple territories, including the majority of hospital trusts within the NHS. 


AFC Energy  21.6p  £146m (LON:AFC)

Sale of a bespoke 100kW H-PowerTM alkaline fuel cell system to Forschungszentrum Jülich  for deployment at its Living Lab Energy Campus ("LLEC") showcase in Germany. 

·Jülich is one of Europe's largest and most prestigious interdisciplinary research institutions. ·The LLEC will provide a blueprint for sustainable, decentralised and integrated smart infrastructure with an emphasis on cutting-edge renewable and Hydrogen technologies.

 ·Having reviewed best available technologies in the market today, Jülich has now selected AFC Energy for the provision of a 100kWe stationary alkaline fuel cell system for inclusion in the LLEC. ·Higher tolerance to lower grade, and therefore lower cost Hydrogen, was a key driver for AFC Energy's selection.


 Image Scan Holdings  2.8p  £3.8m (LON:IGE)

The  specialists in the field of X-ray imaging for the security and industrial inspection markets, provides a trading update for the financial year to 30 September 2020, following better than expected performance in the second half.

While the year-end sales outcome is expected to be close to that anticipated, margins on orders received have been better than expected and the company has managed its overhead costs and stock carefully meaning that profits for the year will be ahead of current market expectations.

The Board now has sufficient confidence in the Company's trading to provide earnings guidance for the year ending 30 September 2020 of sales of £3.3m to £3.5m and a profit performance between breakeven and £100k.


CIP Merchant Capital 49p  £27m (LON:CIP)

CIP has sold its interest in Circassia Group PLC ("Circassia"), a specialty biopharmaceutical company focused on respiratory diseases quoted on AIM, for a total consideration of approximately £3.9 million, resulting in a net profit of £1.1 million for the Company. 

Circassia constitutes the Company's first exited investment, which corresponds to a 1.4 times cash on cash return and represents an IRR of 72% following the Company's investment in Circassia announced on 10 January 2020. 

For the year ended 31 December 2019, Circassia reported a loss after tax for its underlying operation of £39 million and had net assets of £84.4 million.


Kodal Minerals 0.07p  £7.8m (LON:KOD)

The mineral exploration and development company focused on its Bougouni Lithium Project in southern Mali, has signed a Memorandum of Understanding with Sinohydro Corporation Limited, a specialist engineering, infrastructure, power developer and construction contractor, to work together to develop the Bougouni Project.

Sinohydro is a subsidiary of PowerChina, a Chinese state-owned enterprise and a Fortune Global 500 Company with a US$67bn turnover, which is a leading international engineering and construction company providing integrated services across a range of renewable energy and infrastructure areas.


Location Sciences  0.5p  £2.85m (LON:LSAI)

The location data verification company, announces that it has signed up the first customer to its Verify Audience platform. InMarket , the US leader in 360-degree consumer intelligence and real-time activation, has become the first-to-market in the US to buy verified local audiences and optimise cross-channel campaigns.  

The agreement follows successful paid for tests across multiple agencies and suppliers completed in the first half of 2020. The Verify Audience platform allows brands, agencies and suppliers to check the validity of location based derived audience segments, a review of historical movements in contrast to Verify Proximity, which validates the real time locations of mobile devices as digital advertising campaigns are delivered.


Verditek 15.5p  £45.8m (LON:VDTK)

 The clean technology company announced the appointment of Tim Bowen as its Chief Financial Officer with effect from 1st September 2020. He is expected to join the Board in due course.

Tim is an experienced CFO with significant commercial experience in technology-based businesses both in renewable energy and information technology.

Tim has been CFO of 4 AIM quoted companies including Greenko Group, one of India's leading providers of solar, wind and hydro power.  Tim has a proven track record having driven growth businesses from early stage commercialisation through to full scale operation for more than 20 years. Tim is a Fellow of the Chartered Institute of Management Accountants.


Savannah Resources 2.05p  £26.6m (LON:SAV)

The resource development company, announced that following the completion of its strategic review it has agreed to divest its copper projects in Oman to Force Commodities Ltd, an ASX listed mine development company, pursuant to the terms of a share purchase agreement .

· Consideration and other payments (subject to Settlement):

o  50,000,000 new ordinary shares to be issued by Force (deemed issue price of 1 cent per Force share)

o  Preferential payment of AUD$3,500,000 of an existing loan from cash flow from production

o  Payment of a 1.0% net smelter royalty on future metal sales

· Settlement of The Transaction is subject to certain conditions being achieved or waived, and is expected to be completed in October 2020

· Savannah retains exposure to the Projects' economic success


Bluejay Mining 8.51p  £82.5m (LON:JAY)

The company with projects in Greenland and Finland, has advised of the Government of Greenland's decision to approve the following two major amendments to their mineral licensing standard terms and conditions:

· Postponement of the transferred outstanding annual exploration obligations for all mineral exploration licences by one year.

· Extension of the licence period for all mineral exploration licences by one year.

This approval is a significant positive amendment to the Government of Greenland's previous supportive decision from 2 April, which set exploration obligations for year 2020 to zero, and again clearly demonstrates Greenland's support for its minerals sector. Importantly, whilst the Company has no outstanding expenditure commitments for 2020, the various expenditure credits that the Company currently enjoys for various licences will be carried forward into 2021.



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