Hybridan Small Cap Feast: 18/11/2024
* 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:
Balanced Commercial Property Trust (BCPT.L) has delisted from the Main market of the London Stock Exchange
Crossword Cybersecurity (CCS.L) has delisted from the AIM market
What’s baking in the oven?
ITF announced:***
Potential** Initial Public Offerings:
Reverse Takeover:
18 November 2024: has entered into an agreement with certain subsidiaries of Newmont Corporation (NYSE:NEM) to acquire, subject to certain conditions being satisfied, a 70% ownership interest in the Havieron gold-copper project (thus consolidating Greatland's ownership of Havieron to 100%), and 100% ownership of the Telfer gold-copper mine, and other related assets and interests. The Acquisition constitutes a reverse takeover under Rule 14 of the AIM Rules and accordingly an AIM admission document was published on 10 September 2024. The Acquisition is subject to a number of conditions precedent. Satisfaction of the Acquisition conditions precedent, and following that Acquisition completion and readmission of Greatland's securities to trading on AIM, is targeted in Q4 2024.
Banquet Buffet****
The professional services consultancy announces an update on trading for the six months ended 31 October 2024. Revenue and adjusted profit before tax increased by c.16%, with a good balance of organic and acquired growth, free cash flow increased by c.8% and net debt at 31 October 2024 of £3.8m reflects acquisition earn out payments of £4.1m, share buy-backs of £0.8m and dividends of £2.0m (30 April 2024: net debt of £1.4m, 31 October 2023: net cash of £1.1m). The Board are confident of delivering market expectations for the full year to 30 April 2025, which would extend their ten year financial track record of profitably growing the business.
The supplier of compound semiconductor wafer products and advanced material solutions provides a trading update for the year ending 31 December 2024. Revenue for the Full Year 2024 is expected to be broadly flat year-on-year, resulting in around £115m. In line with the rest of the industry, they are continuing to see a slower than anticipated recovery in key sectors driven by weak consumer demand in end markets. The group expects this to result in an Adjusted EBITDA of at least £5m.
The creative audio-visual solutions provider, announces that it has completed installation for an initial proof of concept project to supply digital currency boards in 50 UK Post Office branches. In July 2024, the Company announced an engagement with a new client to initiate a “proof of concept” project to supply digital currency screens, although at the time the customer and the specifics of the project were not disclosed. The Company can now confirm that it has signed a service agreement contract with First Rate Exchange Services Limited (First Rate) for this project, and that digital signage boards have now been installed in all 50 Post Office locations over the last three months.
The natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia announces an update further to its announcement of 7th October 2024. Further to the announcement of 7th October 2024, Red Rock has an obligation to pay a post-completion sum of £250,000 and some other amounts to be computed in respect of the purchase of the 49.9% of the project not previously held. The payment was due within a sixty day cure period expiring today. Red Rock is finalising the terms of this payment and an announcement will be made shortly.
The provider of energy reduction technologies announces the publication of its audited annual report and accounts for the year ended 30 June 2024. Revenue for the year £0.71m (2023: £1.10m), loss after tax £0.54m (2023 £0.70m loss) and cash less current borrowings at 30 June 2024 was £0.04m (30 June 2023: £0.40m). Orders received to 13 November 2024 £0.26m (£0.24m to 30 November 2023).
The developer of novel immunotherapies for the treatment of cancer announces today that 25 patients in cohort 1, receiving SCIB1 in combination with ipilimumab and nivolumab, have reached the 25-week landmark point of the SCOPE trial. These patients are showing progression free survival (PFS) of 80% at 6 months, with 5 (20%) complete responders (CR). 21 of 25 patients (84%) have shown disease control (stable disease or tumour regression, DCR). 18 out of 25 patients have shown a clinical response which is an objective response rate (ORR) of 72%, with many patients continuing to show tumour shrinkage over time. These responses have been verified in all patients with further scans at 19 and 25 weeks. These results compare favourably with reported outcomes from the double checkpoints alone, namely PFS of 65%, CR of 16%, DCR of 58% and ORR of 48%, respectively. The PFS and accumulating number of complete responders indicates that the combination of SCIB1 with double checkpoints gives sustained and durable responses which are improved when compared to double checkpoints alone.
The provider of technology and services for the global offshore energy markets, announces contracts with an aggregate value of over £1.5m. Through its Offshore Energy and Marine Civils Divisions its ranges of engineering services and technologies support and protect offshore wind farms. The new contract specialised offshore grouting services in partnership with EPIC (Engineering, Procurement, Installation, and Commissioning) contractors. These projects, located in the Middle East, are with existing customers. The scope of services highlights Tekmar's grouting capabilities (waterproofing), an area of strategic focus. The work on these projects is expected to be completed in the current financial year.
The sensor technology and measurement solutions company has announced an exclusive partnership with German software firm TIRETASK GmbH, to bring an all-in-one tyre management solution to the UK, North America and Australia. The collaboration introduces a powerful, integrated tyre management system that combines Translogik's highly respected tyre inspection tools with TIRETASK's advanced digital management software. The all-in-one solution will be available from Transense via a flexible monthly subscription model, aimed at fleet operators, tyre dealers, and other industry professionals. It integrates Translogik's precision tyre inspection tools, which are widely used by global tyre manufacturers and fleet operators, with TIRETASK's adaptable software platform.
The operating company focused on growing Fintech and banking businesses to provide niche lending, technological and service solutions to the working capital and early payment markets announces that it expects revenues for the 12 months ending 31 December 2024 to be significantly ahead of market expectations at more than £42m (FY23: £18.1m), representing year-on-year growth in excess of 132%. This has predominately been driven by a strong performance from the console and mobile divisions of Playstack Ltd. As a result, the Group is on track to record its first year of positive EBITDA, at no less than £3.5m (FY23: £3.5m), materially ahead of market expectations. The Group's cash position is also stronger than originally expected, with unrestricted cash or cash equivalents of no less than £10m as at 31 October 2024.
The life science company focusing on early-stage cancer therapeutics and women's health provides the following update from its wholly owned subsidiary Inaphaea BioLabs Limited. Inaphaea confirms customer shipment of its first batch of Patient Derived Cells (PDCs). The cells are provided as part of Inaphaea's new range of Assay Ready Reagents (ARR). The ARR range can be used directly for assays without the need to grow inhouse by the customer. Although the value of the order is not material, it endorses Inaphaea's product offering and a potential revenue source for the Company.
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