GCIHybridan Small Cap Feast: 23/07/24
* 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:
8th July 2024: Rome Resources: The Canada-based early-stage resource exploration Company has announced its intention to IPO on AIM in order to continue to make financial progress on its “Bisie North Tin Project”. The Company’s first day of trading on AIM is expected to be 26th July 2024. The Primary Offer expected size is approximately £4.0m.
Banquet Buffet***
The oil and gas exploration and production company, announces that the 2D seismic acquisition program for Petroleum Exploration Licence 93 over the Owambo Basin, Namibia, completed on time and within budget with no recordable safety incidents. Data processing is ongoing, both in the field and at Earth Signal Processing in Calgary, with final interpretation expected by Q4 2024. New 2D seismic data will be used as part of the validation process for a number of the ten independent structural closures identified from airborne gravity and magnetic data. Expected program outcomes include estimation of a maiden Prospective Resource and identification of future potential drilling locations.
The company focusing on a pipeline of copper-gold projects, announces that it has signed a non-binding letter of intent to enter into a partnership with CrossBoundary Energy Management and Eversolar Pty Ltd for the provision of a renewable and/or hybrid solar energy supply for the Hope & Gorob Copper - Gold Project in which Bezant holds a 70% interest. Subject to executing a legally binding offtake agreement, the installation will provide a sustainable renewable power supply for both the crushing and ore sorting plants at the Hope & Gorob site as well as a renewable installation at the flotation plant located close to Swakopmund that will be reconfigured to produce a final copper-gold concentrate from the ore sorted pre-concentrate.
The investment company provides an update on its portfolio companies. Kirkstall (86.11% owned by Braveheart): Kirkstall operates in the market known as 'organ-on-a-chip', where it has developed Quasi Vivo, a system of chambers for cell and tissue culture in laboratories. Its patented technology is used by researchers in the growing New Approach Methodologies, which enable human-relevant drug safety decisions to be made without the need for animal testing. Kirkstall has appointed a new distributor, Beijing Kilby Biotechnology Co. Ltd for China. Paraytec (100% owned by Braveheart): Paraytec develops high performance specialist detectors for the analytical and life sciences instrumentation markets. Its CX300 instrument can detect and discriminate gram-positive and gram-negative bacteria in a sample from human blood in approximately 90 minutes, which is significantly faster than the current gram test which takes between 24 and 48 hours. Paraytec has now filed a UK patent application for this method.
The locator of subsurface resources announces the launch of a comprehensive data package in support of mineral exploration in Zambia. The launch of the data package is in response to commercial requests and follows the Zambian government's decision to rationalise exploration licenses throughout the country. The data package is designed to support companies looking to apply for new licenses in order to explore Zambia's mineral rich subsurface.
The UK's leading platform for mortgages announces its audited results for the year ended 31 March 2024. Net operating income was £23.5m (FY23: £54.7m) and loss after tax period was £20.1m (FY: a profit of £11.4m). During the period, the Company sold a £250m low margin buy-to-let portfolio at a loss of £10.6m. Debt reduced by £645m (56%) and cash and cash equivalents increased by 19% to £55.7m. Currently, the UK mortgage market is showing signs of improvement, giving cause for cautious optimism. The Company expects to return to profitability in FY25, as previously forecasted.
The technology solutions provider to customers in selected industrial markets, announces a transition in its Board of Directors. Francis Small (Non-Executive Chair), Jon Jayal (Chief Executive Officer) and Johan Olivier (Chief Financial Officer) have informed the Board that they will step down from the Board and leave the Group in the coming months. Francis, Jon and Johan intend to continue in their roles until successors have been identified and to facilitate an orderly handover. The Processes are already underway for the selection of successors for these roles, and it is anticipated that the appointment of the new independent Non-Executive Chair will be announced shortly.
The holding company of a group of medical device businesses focused on the exploitation of the world's leading long-term implantable biostable polymer (Elast-EonTM), announces its audited results for the year ended 31 March 2024 (FY24) Revenue increased by 1% to £2.191m (FY23: £2.179m) and loss before tax reduced 13% to £2.019m (2023: £2.322m). Year-end cash was £3.931m (FY23: £1.484m). Current trading is in line with Board expectations and significant opportunities are being pursued to grow revenues.
The cybersecurity, advisory and managed security services group, announces its results for the year ended 31 March 2024. Group revenue was £22.6m, down 15% (FY23: £26.7m), impacted by a period of cautious customer spending. Adjusted EBITDA was of £0.9m (FY23: a loss of £0.2m). Net cash as at 31 March 2024 was £5.0m (FY23: £4.0m). Post period, there are clear signs that customer budget allocation is starting to be released at a modest pace. FY25 has started well with increasing momentum, including notable contracts secured and a strong pipeline of opportunities across both divisions. The Company is confident that it is returning to growth in FY25, delivering solid, sustainable revenue and profit growth in the years ahead.
The 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 anaemia), announces Q2 2024 trading update highlighting a strong recovery in U.S. ACCRUFeR growth. Total net sales were $6.9m, up 69% from Q1 2024. Cash and cash equivalents were $8.1m as of 30 June 2024, excluding the $5.7m funding from the China milestone monetization announced on July 3, 2024.
The advanced materials engineering group announces it has raised £550k by way of a placing at a price of 0.065 pence per share. The net proceeds will be used for the purchase of concrete and mortar testing equipment to support the ongoing CementeneTM admixture developments for BS934 accreditation, and for use in testing new mortars and products developed using the Company's 3D construction printing capability, in addition for general corporate and working capital purposes.
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