logo-loader

Small Cap Wrap - Helium One; Tirupati Graphite; Mailbox REIT PLC; Keywords Studios; FastForward Innovations; Block Energy; Kore Potash and more...

Published: 10:42 24 Nov 2020 GMT

.

 Our daily digest of news from UK listed Small and Mid caps

24 Nov 2020

@HybridanLLP

 

*A corporate client of Hybridan LLP

 

Dish of the day

No Joiners Today

Off the menu

BLOM Bank GDSs delisted from   the International Order Book of the London Stock Exchange . The GDSs and the underlying shares of the Bank represented by the GDSs will continue to be listed and traded on the Beirut Stock Exchange.

 

What’s cooking in the IPO kitchen?

Kistos is a newly-incorporated closed-ended investment company, established with the objective of creating value for its investors through acquisition and management of companies or businesses in the energy sector.  Raising £31,7m. Mkt Cap £40.2m. Due 25 Nov

Schroder BSC Social Impact Trust plc  targeting a £100m raise.   The Company's investment objective is to be the first London listed investment company to deliver measurable positive social impact as well as long term capital growth and income, through investing in a diversified portfolio of private market impact funds, co-investments alongside impact investors and direct investments in order to gain exposure to private market Social Impact Investments.  Due 22 Dec. Official List (premium)

Abingdon Health to list on AIM. Abingdon Health is a lateral flow diagnostics company providing contract service solutions to a global client base in the healthcare sector and other industries . The Company has developed and is manufacturing the AbC-19TM Rapid Test, an antibody test for Covid-19 indicating whether a person is generating IgG antibodies to the spike protein of the SARS-CoV-2 virus. The Company is also working with three customers to transfer their Covid-19 antigen tests to manufacture, and is manufacturing a component of a rapid PCR (polymerase chain reaction) test.   Offer TBC. Due early Dec.

Auctus Growth Plc (LON:AUCT) –  Reverse acquisition of HeiQ Materials AG.  £20m placing for the enlarged group plus further secondary placing of £40m for selling shareholders.  HeiQ creates technologies that add functionality, comfort, hygiene and sustainability to existing apparel, home textiles, technical textiles, medical textiles and devices and functional consumer products. It is anticipated that the funds raised will be used to strengthen the Enlarged Group's regulatory portfolio, enhance its direct to consumer marketing and build brand equity, expand its geographical footprint, expand its sales channels, upscale the product HeiQ GrapheneX and build a medical business unit in light of the robust growth that HeiQ Viroblock has experienced due to the COVID-19 global pandemic.  Anticipated mkt cap £141 million. Due 7 Dec. Main Mkt (Standard)

Conduit Holdings is a newly established reinsurance underwriting business focusing on producing strong risk adjusted returns from a diversified and focused business plan. The business has been formed to capitalise on what the Company's founders, Neil Eckert and Trevor Carvey  believe to be an exceptional market opportunity. Raising $1.1bn. Due December

Helium One Global to join AIM. The Company, through its Tanzanian subsidiaries, holds a 100% interest in 18 licences (the Priority Licences) covering an area of 4,512km2 with an Unrisked Prospective Helium Resource (2U) of 138Bcf (SRK 2019). The Company has spent US$8.25m on exploration, assessment and related activity to date and is now drill ready. Capital to be raised on Admission: £6million. Anticipated market capitalisation on Admission £14.1 million (at the issue price of 2.84p). Due 4 Dec

Downing Renewables & Infrastructure Trust intends to raise up to £200 million to target the acquisition of a diversified portfolio of renewable energy and other infrastructure assets and list on the Official List of the Financial Conduct Authority and Main Market of the London Stock Exchange . Due by mid December

Ecofin U.S. Renewables Infrastructure Trust. Initial public offering of up to us$250 million to invest in a diversified portfolio of mixed US renewable energy assets with an attractive long-term income stream. Main market premium. Due 14 Dec

VH Global Sustainable Energy Opportunities plc, a closed-ended investment company focused on making sustainable energy infrastructure investments, today announces intends to launch an initial public offering  of shares on the Official List (Premium) of the Financial Conduct Authority and Main Market of the London Stock Exchange.  Due by Early Feb 2021

Tirupati Graphite, the fully-integrated, cash generative, specialist graphite and graphene producer with operations in Madagascar and India, announced its potential intention to undertake an initial public offering on the LSE (standard listing). Due December

Schroders British Opportunities Trust is seeking to raise up to £250 million on the premium segment of the Official List . The Company believes that there is a once in a generation opportunity to invest equity capital into high quality, high growth UK Companies in the c. £50 million to £2 billion equity value range with sustainable business models at attractive valuations. Due  1 December.

Bytes Technology Group one of the UK's leading software, security and cloud services specialists, announces that the Company intends to publish a Registration Document and is considering proceeding with an initial public offering (Main Mkt Prem).  FY20 gross profit of £79.2m (+24.5% against FY19) and adjusted operating profit of £31.7m (+53.9% against FY19). Highly cash generative with FY20 cash conversion of 125.9% (FY19 cash conversion 139.7%). Bytes due on or around 17 December 2020.

Mailbox REIT PLC , a newly formed single asset company which owns the Mailbox , a large prime office-led mixed use property in Birmingham which has been independently valued at £179m, announced its intention to raise up to £62.5m.  MailBox REIT  will apply for the Ordinary Shares be admitted to trading  on the IPSX Prime segment of International Property Securities Exchange (IPSX ).    Due  November.

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.  Timing tbc

Kibo Energy PLC (LSE:KIBO), 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. 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.   Targeted for Q4 2020.

 

Banquet Buffet

Victoria Oil & Gas 5p  £12.85m (AIM:VOG)

The Cameroon based gas and condensate producer and distributor announced that its wholly owned subsidiary Gaz du Cameroun S.A. (GDC) has received, as operator, approval from the Minister of Mines, Industry and Technological Development for the extension of the Matanda Block licence.  The exploration phase of the licence has been extended by one year from 17 December 2020. This has been approved by the Minister and a Presidential Decree will follow in accordance with the regulations in due course.

"We are extremely pleased to have received this extension for one year. The first well will undoubtedly be in the onshore area where nearby wells in the Bomono license have derisked the shallower plays, and proximity to the GDC-operated gas distribution infrastructure allows easier monetisation of discoveries.”

 

Knights Group 441p  £362m (LON:KGH)

The legal and professional services business, has agreed to acquire OTB Eveling LLP, an independent commercial law firm based in Exeter. In its unaudited accounts for the year ending 30 April 2020, OTB Eveling generated revenue of £2.1m with a corporatised PBT margin of c.16%.  Since its accounting year end, OTB Eveling has traded in line with prior years, with no significant impact on debtors or cash collection. Following full integration, including the delivery of cost synergies, the Board expects OTB Eveling to deliver a PBT margin of circa 20%. The acquisition will be immediately earnings enhancing.  Total consideration of £2.1m in cash and shares including an earn out.

 

Keywords Studios  2159p  £1.6bn (AIM:KWS)

Keywords Studios announces today that it expects to deliver a full year adjusted profit before tax significantly ahead of the current market consensus as a result of continued strong trading since the half year results announcement in September 2020.Revenue for the year to 31 December is expected to be in line with company compiled consensus of EUR367m (2019: EUR326.5m), reflecting robust demand for the Group's services despite previously stated COVID-19 production constraints. 

Adjusted profit before tax is now expected to be significantly ahead of the company compiled consensus of EUR46m, at approximately EUR52m (2019: EUR40.9m). This reflects good underlying margin improvement, despite the revenue constraints noted above, driven by operational leverage and good cost control, together with a reduction in certain costs due to COVID-19, such as travel. Keywords Studios is an international technical services provider to the global video games industry. 

 

FastForward Innovations 7.75p  £14.3m (LON:FFWD)

Update from Yooma Corp in which it holds a 10.65% interest. Yooma Corp, one of Asia's leading hemp and CBD social commerce wellness companies, today announces the launch of clean CBD beauty brands MĀSK Skincare and Lab to Beauty on BorderX Lab's China cross-border eCommerce app, Beyond (bie-yang).

The partnership comes at an opportune time as China's eCommerce market just posted record Singles Day sales numbers boasting 43% growth over 2019 according to Statista. 

 

TechFinancials 0.25p  £0.21m (AIM:TECH)

TechFinancials has entered into an investment in RenewSenses Ltd( https://www.renewsenses.com ). RenewSenses aims to revolutionize the way people with visual impairment experience the world. The Company develops a wearable device that combines cutting-edge computer vision and vision-to-audio and vision-to-touch sensory substitution methods, enabling users to detect and locate objects, people and general visual characteristics in their immediate surroundings through alternative senses. With the help of the investment RenewSenses aims to finalize it's A.I. Cane product and prepare for initial penetration into the market by building international partnerships and sales channels, focusing on the aging European market.  

The A.I. Cane consists of a camera attached to the Company's customized hand-held device that helps visually impaired people to navigate freely. The A.I. Cane uses a companion mobile app to detect and identify obstacles, objects and people in real-time.

 

Trafalgar Property Group 0.14p  £2m (AIM:TRAF)

The AIM quoted residential and assisted living property developer has appointed Gary Martin Thorneycroft to the Board as Group Financial Director who will take up his role with immediate effect.  Gary is a Chartered Accountant with over 35 years' experience, initially in practice and then directly in various industry sectors over the last 16 years. His more recent activities include being CFO of a UK Fintech company, Payment Card Technologies (Retail) Ltd, in addition to being co-founder and CFO of Jones Food Company Limited, who own and operate the largest vertical farm in Europe. Gary structured, modelled, and ran the initial investment round prior to the business exit to Ocado in 2019. 

 

Tern  7.25p  £21.8m (AIM:TERN)

Portfolio company, FVRVS Limited (FundamentalVR), has recently secured a three year contract worth £0.4 million from an existing client, which is a global pharmaceutical company (the Client), to accelerate the safe and compliant use of the Client's product. 

The contract will deliver recurring annual revenues over its three-year term from licences and support, to enable a global rollout of the Client's training solution using FundamentalVR's Fundamental Surgery virtual reality platform. 

 

FireAngel Safety Tech  11.5p  £14.6m (AIM:FA)

One of Europe's leading developers and suppliers of home safety products, announces an Internet of Things (IoT) rollout partnership with the London Borough of Ealing.

On 30 June 2020, the Company announced that it had received a material initial purchase order for its first large-scale connected homes technology rollout for a large London Borough Council.  In a detailed interview that has been published in November 2020's Housing Technology magazine, the Company revealed the full extent of the exciting partnership with Ealing Council.

Ealing Council is currently undertaking a significant programme of regeneration for many of its properties and estates.  As part of these plans, it has partnered with FireAngel to implement one of the biggest IoT rollouts of its kind by a UK social housing provider.  Utilisation of FireAngel's unique connected technology will eliminate much of the costly requirement to gain physical access to properties as data is transmitted wirelessly in real time through a secure cloud network.

 

Block Energy 4.6p  £20.15m (AIM:BLOE)

The exploration and production company focused on Georgia, announced the completion of Block's acquisition of Schlumberger Rustaveli Company Limited . The completion of the acquisition means Block now holds licences for Georgian onshore blocks IX and XIB. These are transformational assets that, as well as significantly increasing production, will provide several development and exploration opportunities for the Company in the coming months. Block will now begin the integration process and will implement a cost reduction plan to ensure the new assets are operated efficiently.

Throughout the due diligence and acquisition process, Block has continued its subsurface technical studies of SRCL's assets, yielding economically attractive short and medium-term opportunities. Following a rigorous technical evaluation of the XIB licence area, which combined production data from over 150 wells, modern 3D-seismic and well logs. Block will shortly apply for permits for a workover and drilling programme across the XIB and West Rustavi licence areas. Block looks forward to updating the market further on its work programme in due course.

 

Kore Potash 0.615p  £15.04m (AIM:KP2)

The potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located within the Republic of Congo, announced the appointment of Ms Trinidad Maria Reyes Perez as a Non-Executive Director of the Board nominated by Sociedad Química y Minera de Chile S.A. (SQM) with immediate effect.

Trinidad replaces Mr Jose Antonio Merino, who has resigned from the Board with immediate effect. 

Trinidad Reyes, aged 32, joined SQM as a graduate in 2012 and is currently M&A Director, prior to which she worked in a variety of roles across SQM. Trinidad is a qualified Civil Engineer having graduated from Pontificia Universidad Católica de Chile.

 

 

 

Head Chef

Derren Nathan

0203 764 2344

derren.nathan@hybridan.com

 

 

 

Status of this Note and Disclaimer

This document has been issued to you 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 is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of section B of annex I to Directive 2014/65/EU ("MIFID II Directive"); or (ii) investment research as defined in article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II              Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority's Conduct of Business Sourcebook).

This document should not be relied upon as being an independent or impartial view of the subject matter. 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, 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 United Kingdom, 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 (SI 2005/1529) (as amended) or (ii)  persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority's Conduct of Business Sourcebook) 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 any person who would be classified as a retail client under the Financial Conduct Authority's Conduct of Business Sourcebook.

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 territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.

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, 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.

This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written 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.

Cordiant Digital Infrastructure marks three years of strategic growth and...

Cordiant Digital Infrastructure Ltd (LSE:CORD) Chairman of Digital Infrastructure Steven Marshall and Chief Financial Officer Mark Tiner joined Steve Darling from Proactive to provide some insight on the company’s three-year anniversary since listing on the London Stock Market. The company...

22 minutes ago