GCIHybridan Small Cap Feast: 170724
* 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
Dish of the day
Delistings:
FireAngel Safety Technology (FA.L) has left AIM.
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 company in the field of cellular agriculture, announces that its portfolio company, Good Dog Food Limited (Meatly), is the first company in the world to receive regulatory clearance for cultivated meat to be sold as pet food, following approval from UK regulators including the Food Standards Authority and the Department for Environment, Food and Rural Affairs. Meatly's cultivated chicken for pet food can now be sold in the UK. Agronomics has invested £1.2m into Meatly since inception, which is currently carried at £5.0m. This position accounts for approximately 3.0% of Agronomics last published Net Asset Value (31/03/2024), including post-balance sheet adjustments. Agronomics has an equity ownership of 38.7% on a fully diluted basis.
The global leader in narrowband radio frequency (RF) smart mesh networks, announces significant progress in its Indian operations through its subsidiary, CyanConnode Pvt. Ltd (CPL). CPL has passed multiple Site Acceptance Tests across several key projects and has achieved "Go Live" status in one, marking a crucial milestone that enables the commencement of billing for deployed meters. The "Go Live" milestone is a critical achievement as it signifies the transition to the billing phase, allowing for revenue generation.
The data activation platform announces the successful completion of its equity fundraise raising gross proceeds of $7.2m announced on 16 July 2024 at the issue price of 55p, representing a discount of c. 5.2% to the closing share price of 58p on 15 July 2024. The Fundraise consists of the placing for approximately $1.7m, the subscription by investors directly from the Company for $5.3m, the retail offer to raise $139k and the participation from CEO Stephen Kelly; Non-Executive Chair, Kenneth Lever; and Senior Independent Non-Executive Director, Peter Lees, for a total of $50k. A total of 10,103,328 new ordinary shares will be issued pursuant to the Fundraise, representing 8.7% of the current issued ordinary share capital of the Company prior to the Fundraise.
The company focused on sustainable biopesticides and a plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries, announces the appointment of Daniel Mulas García as the Company's new Global Product and Marketing Leader with immediate effect. Daniel has extensive experience in sustainable crop protection, most recently working as Product Manager, Biostimulants and Biocontrol for Sipcam Iberia, an important commercial partner of Eden, for close to ten years. During his time with Sipcam, Daniel was responsible for the launch and management of many innovative crop protection and nutrition products, including Eden's Araw biofungicide across the region. He holds a Master's degree in Agronomical Engineering and a PhD in Agronomy from the Universidad de León.
The company developing green economy assets in Europe announce its first metallurgical test work results from the Olserum Rare Earth Elements (REE) project in south Sweden. Following 20 flotation tests, a flowsheet to produce separate REE, apatite and magnetite concentrates has been devised using conventional and well-proven beneficiation techniques. A bulk REE-apatite concentrate containing the minerals monazite, xenotime and apatite was produced with high recoveries of 84.4-92.6% for light rare earth elements (LREE) and 80.9-90.7% for heavy rare earth elements (HREE). The bulk REE-apatite concentrate had grades between 10.5% and 12.6% total rare earth elements (TREE). This was increased to 30-40.11% total rare earth oxides (TREO) after high gradient magnetic separation (HGMS) on the bulk concentrate with initial recoveries of between 55.3-64% for LREE and 53.8-72.5% for HREE respectively, representing a mass pull of only 1.03-2.04%. The Directors believe that these results, in conjunction with EGT's fully permitted low-cost drill programme scheduled for H2-2024, will support the Company in seeking to monetise the Olserum project by attracting a partner to fund a larger scale programme.
The fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, provides a trading update for the six-month period ended 30 June 2024. Revenue was £35.6m, 30.6% higher than H1 2023 (£27.3m), EBITDA margin was c.24% (H1 2023: 19.1%), and cash was £37.1m as at 30 June 2024 (30 June 2023: £31.3m). Weighted contracted orderbook was £71m as at 30 June 2024 (30 June 2023: £78m). Quarantine facility in Canary Wharf is now fully operational providing the foundation and capacity for future growth. Full year revenue guidance of £62 million is reaffirmed with full year EBITDA margins anticipated to be at the upper end of market expectations.
The holding company of the group of companies providing specialist building and support services headquartered in Northern England and serving customers across the UK, announced the appointment of Simon Carr CBE as Non-Executive Chairman of the Company with immediate effect. Simon Carr has over 45 years' experience in the construction industry, having sat on the board of both private and public companies. He was notably recognised in the 2020 Queen's Birthday Honours List, receiving a CBE for services to the construction industry and charity. Simon was previously the Managing Director of Henry Boot Construction Limited and sat on the Executive Committee of Henry Boot Plc. Meanwhile, Harry Samuel, Interim Non-Executive Chairman, resumes his previous role of Non-Executive Director with immediate effect. Anil Khera will be stepping down from his role as Non-Executive Director.
The exploration and development company with gold assets in West Africa and India, advises that the Company has commenced a drilling programme on the Bido Project in Burkina Faso. The Programme comprises 2000 metres of reverse circulation drilling, targeting coincident geochemical and geophysical anomalies on the Beredo-Kiekouyou prospect. Southern drill fence will test an exposed quartz vein that returned anomalously high gold values from the systematic rock and soil sampling programmes. The Company continues to advance the potential restructuring of its interest in its West African gold assets inclusive of funding for both this drilling programme and advancing these assets going forward.
The Greentech company inventing all natural, zero net-cost solutions to reduce consumption and associated emissions of liquid hydrocarbon fuels, announces the conclusion of a successful extended shipping evaluation with Caspian Marine Services B.V. (CMS). Two CMS offshore support vessels were included in a long-term evaluation of the SulNOxEcoTM fuel conditioner. CMS operates a fleet of more than 25 offshore marine support vessels, serving the offshore oil and gas exploration and production industry, chartering many of their ships to large oil majors. SulNOx and CMS are working together to help address Azerbaijan's ambitious target to reduce greenhouse gas emissions by 35% by 2030 compared to 1990.
The investing company focused on early-stage and pre-IPO disruptive technology investments, announces that it has entered into an unsecured convertible loan note instrument with Hamak Gold Limited, the Liberia-based gold exploration and development company (LSE:HAMA). Vela has agreed to issue 2,424,242,424 new ordinary shares to Hamak at a deemed issue price of 0.012375 pence per share in consideration of the issue to Vela by Hamak of £300,000 of unsecured convertible loan notes of £1 each. The deemed issue price represents a premium of 7.61% to Vela's closing mid-market price of 0.0115p on 16 July 2024.
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