GCIHybridan Small Cap Feast: 180724
* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
What’s baking in the oven? **
Potential**** Initial Public Offerings:
ITF announced:
8th July 2024: Rome Resources: The Canada-based early-stage resource exploration Company has announced its intention to IPO on AIM in order to continue to make financial progress on its “Bisie North Tin Project”. The Company’s first day of trading on AIM is expected to be 26th July 2024. The Primary Offer expected size is approximately £4.0m.
Banquet Buffet***
The mineral exploration portfolio with gold, graphite and ilmenite projects in the U.K. and Greenland, announces that it has raised £300k (before expenses) in a placing and subscription at the issue price of 0.035p per ordinary share, representing a 36% discount to the mid price on the 17th July 2024. The equity raised includes a subscription of £17k by George Frangeskides, Chairman of the Company, and £3k y Michael Nott, Non-Executive Director. In addition, there will be a separate conditional retail offer to existing shareholders to raise up to approximately £100k at the issue price. The proceeds are intended to be used to continue the value-enhancing activities across the Company's portfolio.
The provider of real-time, digitally delivered assistance products which reduce disruptions to everyday life, announces a trading update for the six months to 30 June 2024. Revenue from continuing operations is expected to decrease 2% to c.£89.1m (H1 2023: £90.6m) and EBITDA is expected be c.£1.1m (H1 2023: restated £2.1m). Continuing operations include the results for Blink, CPP India, Globiva, CPP Turkey and the UK Legacy business which is now in run-off. During the first half of 2024, the Group completed its Change Management Programme. The Company expects the progress made during the first half of 2024 to continue during the remainder of this year and into next.
The cybersecurity solutions company focused on cyber strategy and risk announces that it has raised gross proceeds of approximately £500,500 through a placing and direct subscription at the issue price of 5p per Ordinary Share. The Issue Price represents a 27% discount to the closing mid-price on 17 July 2024. The Fundraise comprised the Placing to raise c. £300,500 from new and existing shareholders and the Subscription to raise £200,000 from the Company's CEO, Tom Ilube . The Company intends to apply proceeds to provide additional working capital as the Company continues to focus on achieving EBITDA and cash breakeven in H2 2024.
The international multi-brand franchise business announces the following trading update. System sales in the first half of the year increased by 41% to £206m (2023: £146m) and Adjusted net debt at the end of the first half of 2024 is anticipated to be below £70m. The board confirms that the Group is trading within the range of current market expectations for 2024 of Adjusted EBITDA of £35.7m to £37.2m. The short-term operational focus of the business remains on integrating the Group's businesses and repaying the Pirtek Europe acquisition debt.
The renewable energy-focused development company, announces that further to its RNS announcement of 5 July 2024, Mr. Clive Roberts has now been appointed to the Kibo board as a director and non-executive Chairman effective today. Clive Charles Herbert Roberts (Aged 61) had a 30-year career in investment banking, including 22 years at ABN AMRO Hoare Govett, and has spent the last 10 years investing in startups and AIM companies. He has helped raise many millions of investment funds for multiple companies and his market experience will be extremely valuable to KIBO going forward.
The owner, designer, manufacturer and omni-channel retailer of leading homeware brands in global markets, provides a trading update for the six months to 30 June 2024. Sales is expected to be down 17% to c.£36.5m from same period last year. This is in line with what was anticipated in the Group's full year results in March, which stated that H1 sales would be down due to lower order levels in South Korea. The Group expects FY24 profit to be up on the prior year with improved operating margins and we remain on track to meet FY market expectations. The sales in the second half in the South Korean market are expected to be back to broadly in line with the prior year and the order books are healthy or Christmas across the US and UK.
The provider of intelligent automation and customer engagement software, provides a trading update for the year ended 30 June 2024. The Board confirms strong trading in FY24, with results expected to be in line with market expectations. Subject to audit, revenue is anticipated to increase by 9% to £39.1m (FY23: £36.0m), including revenue from Cloud customers up 19%. Adjusted EBITDA is expected to increase 5% to £8.4m (FY23: £8.0m). The Group generated strong cash flow in FY24, ahead of expectations, resulting in an improved year-end cash position of £34.0m (30 June 2023: £24.8m).
The building services provider announces its preliminary results for the year ended 31 March 2024. Revenue is stable at £68.7m (2023: £69.7m), operating profit increased to £2.4m (2023: £2.1m), basic earnings per share increased to 9.5p (2023: 8.5p) and the net bank debt position was £2.2m (2023: net cash £3.2m). The first quarter of the current financial year, ending 31 March 2025 (FY25), has started positively and results have been in line with management expectations. The reduction in the total issued ordinary share capital, as a result of the tender offer in December 2023 is expected to further benefit earnings per share in FY25.
The provider of ultra-complex chips for global technology brands announces its audited results for the year ended 31 December 2023. Revenue decreased to £9.4m (FY22: £17.3m), Adjusted EBITDA was £4.5m in loss (FY22: £1.1m loss) and the net debt at year-end was £0.9m (FY22: net cash of £3.7m). On 6 March 2024, the Company entered into an £874,600 secured 15% convertible loan note agreement with Rox Equity Partners Limited (ROX) to enable the Group to meet immediate working capital requirements. The Company has since received a further £2m from ROX on 28 March 2024 via a further convertible loan note under the same terms as the above and also a £5.6m equity subscription completed on 14 June 2024.
The provider of software and niche lending solutions to thousands of businesses across the UK, announces that its subsidiary, Satago, a provider of invoice financing and Lending as a Service (Laas) software solutions, has entered into a contract with a Specialist Lender to provide its customers with invoice financing via Satago's proprietary lending technology. Following the successful completion of an exploratory phase of work, Satago will now provide technological and operational capability in order for the Specialist Lender to make available additional lending products to both its existing and prospective customer base. Under the terms of the contract, the Specialist Lender will pay Satago a platform and servicing fee per customer, subject to a minimum monthly fee. Satago is expecting to onboard the first customers from the Specialist Lender during 2024.
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