Hybridan Small Cap Feast: 04/09/2024
* 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
Delistings:
Mattioli Woods (MTW.L) has delisted from AIM
What’s baking in the oven ?
The supplier of premium, high performance and sustainable wood building materials today provides the following update regarding recent trading. Revenues at EUR 35.9m, a 3% increase compared to the prior year, despite continued global market headwinds for the construction and building materials industry. The North American market, the Group's largest growth area, is experiencing solid growth, reflecting increasing demand for Accoya products. A good start to Q2 and a healthy order book across the regions, providing confidence the Group is back on a growth trajectory.
A copper and gold mining Company with a world-class copper-gold resource in the Philippines announces that its Philippine affiliate, Makilala Mining Company, Inc. (MMCI), has been issued a Certification Precondition (CP) from the Philippine National Commission on Indigenous Peoples (NCIP) for its flagship Maalinao-Caigutan-Biyog Copper-Gold Project. As the government agency mandated to protect the rights of indigenous peoples, the NCIP ascertains that the collective decision of the Balatoc Indigenous Cultural Community (ICC) has been obtained with respect to their right to self-determination over their ancestral lands. The NCIP En Banc also reviewed and evaluated the Free, Prior and Informed Consent (FPIC) process to ensure that it was observed in accordance with Republic Act No. 8371, or the Indigenous Peoples' Rights Act (IPRA) of 1997.
The wine producer with an award-winning range of sparkling and still wines announces its unaudited results for the period ended 30 June 2024. The net sales revenue was £7.12m (2023: £8.04m), a reduction of 11% against the prior year and adjusted EBITDA was down 58% to £1.36m (2023: £3.26m) due to reduced gross profit and an expected lower fair value adjustment on biological assets. The net debt was £5.8m (YE 2023: £1.2m), driven by the full planting of the new Buckwell vineyard and the in-year costs of the 2023 harvest. One-off factors have impacted H1 trading, so the Board is now expecting single digit NSR growth for the year, with a previously noted return to normalised profit levels.
The technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation announces it has raised, £1.1m before expenses by way of a £1m placing and a subscription of £100k to new and existing institutional and other investors at a price of 1p per. In addition, the Company is launching a separate retail offer to existing retail investors via the Winterflood Retail Access Platform (WRAP) platform to raise up to £0.2m at the Issue Price. The Issue Price represents a discount of approximately 19%. to the closing mid-market price on 3 September 2024, being the latest practicable date before this announcement. The net proceeds of the Placing, Subscription and WRAP Retail Offer, along with the Company's existing cash resources will be deployed for general working capital purposes and to accelerate the implementation of its strategy.
The specialist business advisory firm announces the acquisition of Williams Ali CF Limited based in Newcastle which provides corporate finance services to clients both in the North East and nationwide. The firm's two Directors and Founders, Abu Ali and Phil Williams, will join FRP as Partners. All other members of the WilliamsAli team, comprising five colleagues will also join FRP. The Acquisition is in line with FRP's strategy to generate sustainable profitable growth by combining a focus on organic growth with acquisitions that meet the Group's selective criteria. This approach enables the Group to increase market share, broaden its service offering to clients and expand its geographical footprint. The acquisition is the Group's eleventh since IPO in March 2020.
The provider of advanced self-propelled, self-elevating support vessels serving the offshore oil, gas and renewables industries announces its interim results for the six months period ended 30 June 2024. Revenue increased 9% to $80.7m (H1 2023: $74.3m), Adjusted EBITDA increased 8% to $47.7m (H1 2023: $44.3m) and cash and cash equivalents at 30 June 2024 were $7.44m (30 Dec 2023: $8.67m). Given the Group's improved performance in H1 2024, it has also today reaffirmed its adjusted EBITDA guidance for 2024, projecting a range between $92m and $100m.
The Advanced Materials and Paper & Packaging group issues a trading update for the 18-week period ended 27 July 2024. The Group has made a positive start to the financial year, with performance over the period showing recovery from the challenging market conditions experienced in the second half of FY24. Trading is in line with the Board's expectations, albeit behind the performance seen over the same period last year where Advanced Materials fuel cell revenue was particularly strong. New sales opportunities in the Advanced Materials business remain strong, where investment continues to be made in the hydrogen electrolyser business to build capacity to meet anticipated demand. Whilst the luxury packaging market remains soft, order intake levels in Paper & Packaging point to continuing recovery over the current financial year, where the business has secured some new key contracts.
The investment Company announces that it has instructed legal counsel to commence proceedings to enforce the terms of the agreement concerning the sale of its 100% interest in African Tantalum (Proprietary) (Aftan) Limited to Hebei Xinjian Construction (Xinjian), as announced in an RNS on 20 December 2022. Under the terms of the Sale Agreement, Xinjian was legally obligated to pay Kazera cash consideration of US$13.0m for the purchase of all shares and associated loans in Aftan. Kazera retained the right to receive a debenture payment equivalent to 2.5% of gross sales of Lithium & Tantalum produced for the life of the mine and retained 100% ownership of the shares in Aftan until full payment for both the loan and the share sale were received. Payment in full was due to have been made by the end of 2023.
A commercial-stage medical device leader in advanced magnetic resonance imaging (MRI) of the lungs announces its unaudited interim results for the six months ended 30 June 2024. Group revenues for H1 2024 were US$1.1m (H1 2023: US$0.1m), reflecting increased commercial traction. The loss before tax decreased to US$4.01m (H1 2023: US$7.35m) whilst cash and cash equivalents increased to US$15.22m (H1 2023: US$9.88m). As they company looks to the future, is states that it is pleased with progress in 2024 as they continue to execute their five-pillar growth strategy, which includes driving utilisation, expanding the user base, enhancing reimbursement coverage and payment, expanding the total addressable market, and continuing to develop key industry partnerships.
A commercial stage pharmaceutical Company that delivers ACCRUFeR/FeRACCRU (ferric maltol), an innovative and differentiated specialty pharmaceutical product, to address a significant unmet need for patients suffering from iron deficiency (with or without anemia) announces its unaudited interim results for the six months ended 30 June 2024. Total revenues increased to $12.1m (H1 2023 $3.7m), the operating loss increased to $15.5m (H1 2023: $12.6m) and cash and cash equivalents decreased to $8.1m (31 December 2023: $13.9m). The Group continued to execute the expansion and growth of ACCRUFeR in the first half of 2024. They have substantially increased revenues, the net selling price and the number of prescriptions for ACCRUFeR in the US as they continue to build awareness of the product and fine tune their commercial efforts.
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