Hybridan Small Cap Feast: 11/11/2024
* 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:
Live Company Group (LVCG.L) has delisted from the AIM market
What’s baking in the oven?
ITF announced:***
Potential** Initial Public Offerings:
31 October 2024: Winking Studios: the AAA Art Outsourcing and Game Development business listed on the Catalist board of the Singapore Exchange Securities Trading Limited, is pleased to announce its intention to seek Admission to trading on the AIM market in November 2024 (the Dual Listing) to support, amongst other efforts, its expansion into Western markets. The Company has Partnerships with three major game publishing platforms: Sony, Microsoft and Nintendo and significant organic growth over the past four years, doubling headcount to 800+, increasing revenue to US$29.3m and growing Adjusted EBITDA to US$5.3m (FY23).
Banquet Buffet****
The strategic communications group announces its audited results for the year ended 30 June 2024. Reported record revenue of £20.3m and a profit before tax of £437k for the financial year ending 30 June 2024 (FY2023: £20.2m and £1.0m respectively). Investments made in recent years have helped the Group respond to market shifts and strengthen client relationships. Cash position of £1.7m in the bank at the date of this announcement.
The Boards of SIX and Aquis announce that they have reached agreement on the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of Aquis. Under the terms of the Offer, each Aquis Shareholder will be entitled to receive 727p per share in cash. The Cash Consideration provides value for Aquis Shareholders at a premium of approximately 120% to the Closing Price of 330p per Aquis Share on 8 November 2024 (being the last trading day before the commencement of the Offer Period). The Offer values the entire issued and to be issued share capital of Aquis at approximately £207m (using the treasury stock method for share options), and £225m on a fully diluted basis, and implies an enterprise value of approximately £194m.
The independent energy company focused on generating value across the upstream and midstream markets, announces an investment in Spiralis Energy Ltd; a tidal energy business. As part of Kistos' commitment to the energy transition and meeting its own sustainability objectives, the Company has identified and invested in Spiralis Energy's tidal technology, which is at an advanced stage of testing and has the potential to revolutionise the tidal energy industry. Kistos has agreed to take an equity interest of up to 20% in Spiralis Energy Ltd through 10% equity and 10% warrants for an investment of £800k. Kistos has the right to have board representation.
The provider of energy reduction technologies announces a new order for its gas-saving, CO2-reducing M2G Cloud-Connect System. The £0.1m order is from a major international transport company for part of its significant London property estate. The contract, covering an initial 24 existing gas boilers, was originated through Sabien's channel partnership CBRE, a substantial real estate services and investment firm. Subject to performance, it’s expected that this customer will place additional orders to complete their London area estate. However, there can be no certainty as to value, terms, or timings of any such new orders.
The advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, publishes its quarterly Key Performance Indicators (KPIs) for the quarter ended 30 September 2024. Cars on the road with Seeing Machines' technology increased to 2,617,091 units, representing an increase of 100% from 12 months ago (Q1 FY2024: 1,308,314). Quarterly production of 405,669 units, up 6% from the previous quarter (Q4 FY2024: 381,215) and up 83% from the previous corresponding quarter (Q1 FY2024: 222,138), reflecting continued growth despite the challenging global automotive industry backdrop.
A provider of AI driven digital transformation services and products, is pleased to announce that it has acquired certain intellectual property rights (IPR) from Spore London Limited t/a Codec.AI (in administration) for a cash consideration of £50k payable in two tranches, plus an earnout of 10% of net revenues generated from the technology up to 31 December 2025. Codec AI was a contextual AI insights and targeting data company that extracted consumer behaviour from social platforms such as Instagram, X (formerly twitter), YouTube and Facebook globally. Codec AI's IPR was used to provide actionable insights for content and creative brand engagements to improve customer experience and drive improved marketing ROI using social and influencer contextual data. Codec AI had a global footprint with international clients which included Diageo, Unilever, Mars and Procter & Gamble.
The operator in security and surveillance systems announced the launch of Synergy DETECT, which is a key AI component of Synectics' proprietary software, Synergy. The launch expands Synergy's product offering, now comprising a suite of twelve AI-powered tools designed to streamline real-time detection and analysis available to users. These tools can be fully tailored to align with each customer's specific security and operational demands, further strengthening the ability to protect people and safeguard assets.
The mineral exploration company provided an operational and financial review for its Segilola Gold mine, located in Nigeria (Segilola), and for the Company's mineral exploration properties located in Nigeria, Senegal and Cote D'Ivoire for the three months to September 30, 2024. 18,167 ounces (oz) of gold was sold with an average gold price of US$2,328 per oz. Revenue was US$40.2m (Q3 2023: US$36.6m) and EBITDA of US$27.4m (Q3 2023: US$10.5m). The Company transitioned from a net debt position of US$2.7m as at June 30, 2024 to a net cash position of US$2.7m as at September 30, 2024. Looking forward, Thor has a Production guidance of 85,000oz for 2024 with an all-in-sustaining cost (AISC) guidance of US$800 - US$900 per oz.
The owner, developer and operator of restaurant, clubhouse and hotel sites, announced an update on trading for the 52-week period ending 29 September 2024. Group revenues are expected to be slightly ahead of current market expectations at £50.5m (unaudited) (2023: £45.5m) generating a small positive adjusted EBITDA, also slightly ahead due to efficiency improvements coupled with further softening of inflationary pressures. Cash at bank at 29 September 2024 was £5.8m (2023: £1.9m). The stronger second half performance reflects the impact of various initiatives designed to enhance the customer experience. While not yet at pre-pandemic levels, the continued return of tourists to the UK, particularly in London, is likely to have positively impacted trading, with Coppa Club Tower Bridge delivering a standout performance.
The provider of fire suppression and temperature management solutions announces that its Latin American distribution partner, EZ International, recently hosted a major demonstration event in Chile for local fire safety professionals, industry buyers, and large potential customers. The event showcased demonstrations of Zenova's complete range of innovative solutions, including the Zenova IP and FP thermal and fire protection coatings, along with the full suite of Zenova FX extinguishers.
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