Hybridan Small Cap Feast: 07/10/2024
* A corporate client of Hybridan LLP
** Potential means Intention to Float (ITF) has been announced, or it is a rumour
***Arranged by type of listing and date of announcement
****Alphabetically arranged
Share prices and market capitalisations taken from the current price on the day of publication
Dish of the day
Admissions: None
Delistings: None
What’s baking in the oven?
ITF announced:***
Potential** Initial Public Offerings:
30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand announced that it has confirmed a £500m 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. The Offer will comprise existing shares to be sold by certain existing shareholders of the Company.
Dual Listings:
4 October 2024: Pulsar Helium, a publicly traded company on the TSX Venture Exchange (TSXV:PLSR) and the OTC QB Venture Market (OTCQB:PSRHF) focused on helium exploration and development is planning to list on AIM also. The Company's primary focus is the exploration and development of helium at its appraisal-stage Topaz Project, located in Lake County, Minnesota in the United States of America. The Company also holds two exploration/prospecting licences in Greenland, comprising the Tunu Project. The Company's main country of operation is United States of America. Expected first day of trading mid October.
Banquet Buffet****
An independent onshore oil and gas development company announces a third quarter 2024 production and operations update. Production from the Saltfleetby Field in the Third Quarter of 2024 was 531m standard cubic feet of natural gas and 9,977 barrels of condensate. In addition, the Brockham Field exported 1,995 barrels of oil during the Quarter. Gas sales of 5.85m therms were achieved in the Quarter from the Saltfleetby Field. Estimated revenues of £5.14m for the Quarter.
A cloud computing and connectivity provider for financial markets announces its final results for the year ended 30 June 2024. Revenues increased 27% to £28.5m (2023: £22.4m), underlying EBITDA increased 27% to £10.7m (2023:£8.4m), a positive operational free cash flow position, with Net cash as at 30 June 2024 of £6.6m (30 June 2023: £4.4m) notwithstanding continued investment in Beeks' product offering. Underlying diluted EPS 6.36p (2023: 3.96p). Even at this early stage of the year, the Board is confident in achieving results for FY25 in line with its expectations.
The West African focused gold company announces the results of ICP-MS analysis from its recently completed reconnaissance Reverse Circulation drilling programme at the Tambor gold anomaly. 2,018 samples were analysed by ALS laboratories, using ICP-MS for multi-element data (46 elements per sample). Results indicate that gold mineralisation is associated with an Intrusion Related Gold System. With more than 50% of holes drilled ending in mineralisation (>0.1 g/t Au and <5m from end of hole), using the trends of the elements associated with gold, and depending on the host lithologies, results show that mineralisation is likely to continue past the end of the hole in most instances with deeper drilling now required to expand these known zones.
Corero this morning announced several new customers at the end of the Q3 period. This cyber secure, distributed denial of service protection specialists gained several new customers, as well as important renewals and upgrades from existing customers. The total value of Orders secured in Q3 2024 is $6m, with the year-to-date total Orders at $20.2 m. There are new, strategic geographies such as the Middle East and Latin America resulting in sixteen new customers in total to date in 2024. The contracts for renewals and upgrades are for over three years.
The consumer healthcare company behind Eroxon, that specialises in the development and global commercialisation of innovative and clinically proven sexual health products announces that following Haleon's distribution of online pre-orders and the availability of Eroxon in retailers in the US, the next milestone payment due under the agreement with Haleon of $5.0m has been triggered and is expected to be received by the Company shortly.
The specialist contract research organisation in testing infectious and respiratory disease products using human challenge clinical trials notes the announcement by Enanta Pharmaceuticals, reporting positive topline results from a Phase 2a Respiratory Syncytial Virus (RSV) human challenge trial in healthy adults conducted by hVIVO for EDP-323, its second RSV antiviral candidate. EDP-323, a novel, oral, direct-acting antiviral in development for RSV infection, has achieved U.S. Food and Drug Administration (FDA) Fast Track designation.
The value-added component supplier and design-in manufacturer of computing, power, and communications products announces that Custom Power USA has been awarded two significant contracts with a combined value of $5.1m (£3.8m) from two leading defence prime contractors for battery packs to be used in the US defence sector. Both contract awards, made following lengthy and rigorous design phases, will utilise the battery packs in harsh environment applications in maritime and aerial technologies. Deliveries will commence in early 2025 and are expected to conclude within the calendar year. Both programmes have the potential for multi-year framework agreements.
The women's fashion brand announces the signing of a lease agreement for its fourth store, in Cardiff's St David's centre. This follows the recent store openings in Chelmsford, Marlow and the Metrocentre. St David’s centre has an annual footfall of 30 million and is also home to other aspirational branded clothes shops and high-end restaurants, such as The Ivy, that have made it a known destination for fine dining. Sosander continues its transition from online to becoming a true multi-channel retailer.
A producing mineral company updates shareholders on the current progress at its 100% owned subsidiary Cornwall Resources Limited (CRL). CRL confirms its involvement in a newly announced, UK Research and Innovation funded, Green Economies Centre to be based at the University of Exeter. CRL will co-lead one of the trans-disciplinary work packages within the new Centre, with a focus on using CRL's Duchy of Cornwall licence area as a physical laboratory for new ideas and the development of extraction frameworks. CRL's Project Manager, Dennis Rowland, played a key role throughout the process in the University of Exeter securing £4.5m in funding for the establishment of the Critical Minerals Accelerating in the Green Economy Centre. The Green Economy Centre's focus is on sustainable extraction of tin, tungsten, lithium and other critical minerals, to support the UK's transition to a green economy. With a keen focus on advancing projects towards major new, high value, job creation across the region.
The provider of maritime domain awareness systems and technologies for security, safety and environmental protection advises that it has received a formal contract award notification from a sovereign government Ministry for a contract worth US$213m to deliver an integrated SRT maritime surveillance system. The award is subject only to completion of the formal contract and associated performance bond which are now underway and expected to be completed prior to the end of next month, with implementation commencing immediately thereafter. The contract is for SRT to provide their national coast guard with a new state-of-the-art national maritime surveillance system that integrates numerous multi-sensor surveillance platforms, both fixed and mobile, along with several integrated command centres located across the country. The contract includes the turn-key delivery of the system within 2 years, followed by a 10 year support and maintenance package.
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