Hybridan Small Cap Feast: 24/10/2024
* 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:
, the sports nutrition, health and wellness brand has confirmed its first day of dealings on the main market. The Offer Price has been set at 140 pence per Share, equating to a market capitalisation of approximately £350m at the commencement of conditional dealings. The Offer comprises 112,500,000 existing Shares being sold by certain existing shareholders of the Company. This equates to a total offer size of £157.5m and represents approximately 45% of the Company's issued share capital on Admission.
Delistings:
What’s baking in the oven?
ITF announced:***
Potential** Initial Public Offerings:
17th October 2024: Selkirk Group, a newly incorporated company established with the primary objective of acquiring a company or business which the Directors believe is undervalued and providing them with their own listing on the AIM market to create shareholder value or acquiring an existing public company and providing a highly incentivised management team with strategic direction. The Company is focused on acquiring business which are headquartered in the UK. The Company is primarily focused on the small and mid-cap market, specifically within the Consumer, Technology and digital media related sectors. Expected first day of trading in late October with an expected size of primary offer of £7.5m.
Banquet Buffet****
The financial services company provided an update on the current development of the ADVFN investor platform. In line with ADVFN's strategic aim to position itself as a cutting-edge technology company within the financial space, the Company's new mobile app is be scheduled for release by the end of Q3 this year. The phased rollout of the new mobile application has now commenced. The applications have not yet reached 100% of the platform user base as the launch is being phased to gather valuable feedback at each stage of rollout. The Board expects to publish the audited results for the year ended June 2024 towards the end of November. Trading in the second half to June 2024 remained in line with trading in the first half. In the current year, there has been no uplift in trading and the results for the quarter ended September 2024 are broadly in line with the comparable period in 2023.
The sustainable building products, systems and solutions group, provided a trading update ahead of its Annual General Meeting, held this morning at 10am. The group announces that, following its record performance for the year to June 2024, the positive trading momentum has continued into the first quarter of the financial year ending 30 June 2025. The Group continues to outperform the sector, against a challenging backdrop in commercial construction markets, through its strategic focus on sustainable building products and solutions, growing sales through customer service and innovation, and targeted export opportunities. Management is continuing to take action to increase operating margins towards the medium term.
The Australian-based minerals company provided its quarterly activities report for the period ended 30 September 2024. Aura has continued to make progress on the development of the Company's flagship Tiris Uranium Project in Mauritania as it progresses towards a Final Investment Decision (FID) in early 2025 while advancing the licensing of the Haggan Polymetallic Project in Sweden. The February 2024 Front End Engineering Design (FEED) study production target and economics was updated in September using the recently expanded 91.3Mlbs U3O8 Mineral Resource at the Tiris Uranium Project in Mauritania to produce a Production Target Update. Production Target Update increased the total project U3O8 life of mine production by 44% to 43.5Mlbs U3O8 and extended the mine life from 17 years to 25 years. NPV8% of US$499m (A$734m).
The exploration and development company focused on gold in Australia announced the results of rock chip sampling and trenching activities completed at the Lolworth Project, Queensland, focusing on gold and base metals exploration. 378 rock chip samples were analysed. The highest-grade gold results include 11.05, 14.15 and 14.7 g/t Au. 23 rock chips returned silver grades greater than 10 g/t Ag with six samples exceeding 50 g/t Ag. Trenching at the Gorge Creek West Prospect has identified broader zones of gold mineralisation, including best grades of 11.05, 3.72 and 4.82 g/t Au within a quartz shear zone. Newly-discovered gold-bearing veins identified near Gorge Creek West and Uncle Terry prospects
The resource exploration and development company announces that the diamond core drilling programme at the Pitfield Project, located in Western Australia, has been completed, identifying new extensive, thick zones of strongly weathered saprolite cap. Samples will be used primarily for metallurgical test work and flowsheet development as well as informing the plans for further diamond core and reverse circulation drilling aimed at defining a maiden Mineral Resource Estimate in 2025. Diamond core drill programme completed on schedule, with five holes drilled to planned depths at both the Thomas and Cosgrove Exploration Target areas for a total of 679 metres.
The staffing business announces its audited financial results for the year ended 31 July 2024. Revenue increased to £389.5m (2023: £382.1m), EBITDA decreased to £2.6m (2023: £5.0m) and net cash was stable at £20.7m (2023: £21.6m). The Board remain mindful of the macro-economic headwinds, which continue to impact demand and candidate sentiment. It is seeing permanent recruitment remaining subdued and is continuing its focus on contractor growth, which takes longer to reflect in Net Fee Income. For FY25, it is expected that profitability will be weighted to the second half of the year and FY25 continuing underlying PBT will be in line with previous guidance of £3.0m.
The specialist engineering group has announced that Chesterfield Special Cylinders (CSC), its wholly owned subsidiary, has been awarded a major contract to supply air pressure vessels to the Royal Canadian Navy's River class destroyer programme. The £2.8m contract award by Canadian shipbuilder Irving Shipbuilding Inc. covers the first three ships in a fifteen-ship programme. Initial manufacturing milestones will commence in May 2025 and will be delivered over the next 5 years. The Board believes this contract award underpins their global defence order book in FY25.
The specialist in delivering complex and integrated remote site services to organisations globally announces that it has been awarded a new contract with the United Nations Interim Security Force (UNISFA) for Abyei. The three-year contract (with two additional option years), valued between USD 60m and USD 70m in aggregate over the five-year period, will commence immediately. RA has been supporting UNISFA in Abyei, which is situated between Sudan and South Sudan, since 2020 through the provision of manpower under the Force Mobility contract worth USD 5m.
The provider of AI driven digital transformation services and products provides the following trading update. The Group delivered record-breaking revenue in September 2024 and remains on track to achieve an EBITDA positive run rate from October 2024 onwards. The Company also announced that it has secured a new working capital facility, ensuring support for its growth strategy through FY25. The funding takes the form of a receivables backed revolving credit facility, initially for £2m with up to £4m available over 24 months with eligible receivables over both UK and international invoices. The Board expects the facility to provide sufficient working capital for the business as it achieves its goal of an EBITDA positive run rate.
The provider of walk-through security technology, today announces unaudited results for the six months ended 30 September 2024. Revenue of £1.9m (H1 2024: £3.5m), Adjusted EBITDA loss of £2.1m (H1 2024: loss of £1.4m) and Cash at 30 September 2024 was £1.8m (31 March 2024: £4.1m). The Company report they have a healthy pipeline across all markets, with particularly significant near-term opportunities in Entrance Security and Retail Distribution.
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