Hybridan Small Cap Feast: 01/10/2024
* 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
What’s baking in the oven?
Potential**** Initial Public Offerings:
ITF announced:
18th September 2024: GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5m and anticipating a £6.5m market cap. GenIP is a portfolio company of London-based intellectual property investor Tekcapital PLC (TEK.L). GenIP is using Generative Artificial Intelligence (GenAI), whose mission is to empower organisations to better evaluate and commercialise technology discoveries through two distinct, yet complementary, services namely; providing bespoke enhanced research reports assessing the market potential for new technological innovations by using the Company's GenAI driven proprietary software, InventionEvaluator; and providing executive recruitment services to match technology organisations with experienced executives and business leaders using the Company's GenAI-driven proprietary software, Vortechs.
30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand announced that it is considering an IPO onto the LSE Main Market. Across the four ranges, the Group sells approximately 100 different products, with flavour and format combinations across those products resulting in over 500 stock keeping units. July 2024 YE numbers reported revenue of £86m and EBITDA of £25.9m. Offer details TBC but it would comprise existing shares to be sold by certain existing shareholders of the Company.
Banquet Buffet***
The integrated commercial biotechnology Company specialising in allergy vaccines today announced an update on the Group's working capital position. Following tight cost control initiatives and changes to the phasing of R&D expenditure, the Group has successfully extended its cash runway into late-October. There remains a further £12.5m of uncommitted funding available under a Loan Facility and the Company is at an advanced stage on further debt funding to support its ongoing operations and development pipeline. Preparation of Allergy Therapeutics' preliminary financial results for the year ended 30 June 2024 is well underway and the Group now expects to publish its report by the end of October.
The investment Company focused on natural resource projects in Africa announced its unaudited interim results for the six months ended 30 June 2024. During the period under review Armadale diversified its investments to include a high grade silver project in Idaho by investing in an option over a 51% interest in the Canyon Silver Project in three stages. Armadale has continued to progress baseline environmental monitoring and explore potential funding options. During the half, the neighbouring graphite project in Tanzania owned by Black Rock Mining Limited secured material funding which the Company believes may prompt further interest in, and facilitate ongoing discussions with regard to, Armadale's efforts to secure funding for the Mahenge Graphite Project.
The designer, developer and international distributor of toys, games, and giftware announced a trading update ahead of the publication of the Company's 2024 audited annual results. The Group expects its adjusted profit before tax for the financial year ended 31 August 2024 to be in line with current market expectations. Initial sales of products for the Christmas '24 season are showing encouraging signs, especially new introductions. The Group reports having a solid balance sheet with a healthy cash balance. FY results are scheduled to be released in December 2024.
The medical device Company has announced that it has raised approximately £12m by way of the Placing at an Issue Price of 24 pence per share. The proceeds raised will be used to continue the development of Creo's technology as well as mitigating against any completion risk associated with the divestment of a 51% controlling stake in Creo Europe, announced on 18 September 2024. When combined with the proceeds from the Sale, the proceeds from the Fundraising will ensure the business is sufficiently funded to profitability.
The UK-based technology Company specialising in artificial intelligence products announced its unaudited financial results for the six months ended 30 June 2024. The group successfully completed the acquisition of Aquis-listed Cykel AI plc (now called Cykel AI Development Ltd) on 27 June 2024 with a combined market capitalisation of approximately £20m. The group completed an IPO on Aquis on 25 October 2023 with a market capitalisation of approximately £6m. The deal flow of potential partners and clients remains strong, and Directors continue to evaluate exciting new opportunities that will generate long-term value for investors.
The global animal health Company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline today announced an update on its trading for the six months ending 30 September 2024. Aivlosin continues to gain market share in key territories, particularly Brazil and India, with revenues in these regions exceeding the Board's expectations. The ECO Group is second half weighted and this pattern will continue in FY 2025. The recent challenges faced in China and Southeast Asia will lead to revenue for the full year to be materially below the market’s expectations.
The marketing and data science business specialising in integrated marketing and risk and data consulting announced an update to its recent trading and the status of its funding. Trading continues to be challenging overall, but with marked differences by geography and service. Australia continues its year-on-year revenue growth and the wider APAC region, will deliver record revenues and profitability this financial year. The UK is more mixed with clients delaying or reducing spend. The Company is now in constructive discussions with its shareholder lenders in order to secure additional financial headroom to enable the Company to complete its restructuring.
The renewable energy-focused development Company announced that it has signed an agreement with RiverFort a 3.25% shareholder, to provide for partial settlement of the current outstanding balance on an existing loan of £462,871 including interest and fees by sale of its remaining 19.52% interest in Mast Energy Developments PLC (MED) to RiverFort. The MED Share Sale will reduce the outstanding balance on the RiverFort Loan to £342,797.
The Mongolian oil Company, announces that Heron-2, the first development well to be drilled on the Petro Matad operated Heron Oil Field in Block XX in the Tamsag Basin of eastern Mongolia, has reached total depth and wireline logging has been completed. Heron-2 reached a total depth of 2,908m seven days ahead of schedule. An oil zone of 18m gross thickness was encountered which wireline logging indicates is very likely the same stratigraphic unit as that successfully tested in the Heron-1 discovery well. Production casing has been run in preparation for a well testing programme.
The provider of compliance training and e-learning announced the launch of CoreCompliance, a staff compliance training portal tailored for small businesses, particularly those in financial services. This turnkey portal delivers essential compliance training, assessments and monitoring tools to help businesses ensure that their staff stay compliant with ever-evolving regulations. It replaces the Skillcast Basic Plan and offers more courses, knowledge checks, and other features.
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