GCIHybridan Small Cap Feast: 09/08/2024
* 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
Admissions: None
Delistings:
Global Ports Holding Plc (GPH.L) has delisted from the standard listing segment of the main market.
GRC International Group (GRC.L) has delisted from the AIM market
Univision Engineering Limited (UVEL.L) has delisted from the AIM market
What’s baking in the oven? **
Banquet Buffet***
The online-only retailer of building materials today announces a trading update for the seven months ended 31 July 2024. As reported at the preliminary results in May, poor weather in Q1 had a detrimental effect on sales, with sales particularly soft in the Tiles business. The Group has seen an improving sales trend and positive momentum through Q2 and July. Sales for H1 2024 were £30.3m (H1 2023: £36.9m). In July, there was a strong performance from the plumbing superstore where like-for-like sales increased 9.6%. The Group continues to have a sound financial position. Cash at the end of H1 2024 stood at £2.3m (H1 2023: £4.7m), with net debt of £2.5m and available facilities of £3.0m.
The resources company confirms the granting of a contract to undertake the Shinganda Phase 3 drill programme to assess up to 10km strike length of Cu - Au mineral-bearing fault structures broadly defined by the Company to date. The planned Reverse Circulation drilling programme will focus on delineating further shallow, open-pittable copper-gold mineralisation along a combined strike length of about 10km on the Shinganda Main Fault and Splay structures.
The locator of subsurface resources announces a retail offer via the BookBuild platform to raise up to £0.2m through the issue of new ordinary shares at a price of 2p per share. The Company has conditionally raised £1.5m through a placing and subscription at the Issue Price. The Issue Price represents a premium of approximately 11.11% to the closing share price on 8 August 2024 of 1.8p per share.
The international models and collectibles group today announces Neil Sachdev MBE has joined the Group as a Non-Executive Chairman with immediate effect. Neil is currently Chair at HM Land Registry, EastWest Rail Company and Network Rail Property Company, as well as being a Council Member at The University of Warwick. During Neil's Exec career he served as Stores Board Director at Tesco, responsible for property and operations for the UK business, and Group Property Director at J Sainsbury.
A multi-asset, multi-jurisdiction gold production, development and exploration company announces its operational and trading update for the second quarter ending 30 June 2024. Q2-2024 Group production totalled 19,855 ounces of gold (oz) with a total of 42,722 oz produced in the first half of 2024. The Company recorded a Group adjusted EBITDA loss of $13.5m in Q2-2024, driven by reduced production from Yanfolila in the second quarter. With progress at Kouroussa and performance at Yanfolila, the Company has updated its FY-2024 Group guidance to 115,000 - 145,000 oz at an AISC below $1,500.
A mining investment company that focuses on developing early-stage assets in the resources and energy sectors announces that it has entered into a debt facility agreement with each of its two largest shareholders, Richard Jennings and Tracarta Limited, pursuant to which they have agreed to provide the Company with unsecured term loan facilities of £150k and £350k respectively. The proceeds will be used to fund the cash element of the consideration payable to Tectonic Gold PLC under the terms of the agreement announced on 7 August 2024 and to provide additional working capital whilst the Company works to bring Deep Blue Minerals and Whale Head Minerals into production and cash generation.
The property services Group that delivers compliance and sustainability solutions announces that it has received a number of direct awards from new clients following its successful placing on the National Housing Maintenance Forum (NHMF) Framework for Planned Maintenance, Net Zero Carbon and Passive Fire Safety Works. The direct awards received under the NHMF Framework for Planned Maintenance, Net Zero Carbon and Passive Fire Safety Works relate to retrofit works under our Renewables pillar, to improve the energy efficiency for up to 282 properties across North and East London on behalf of housing association members of the North River Alliance, and includes support from the Social Housing Decarbonisation Fund.
The autoantibody profiling company providing research services to the pharmaceutical and biotechnology industry to enable the delivery of precision medicine announces a significant new contract win with a Top 10 Global Pharma company. Following a successful pilot carried out for a major pharmaceutical company, Oncimmune has entered into an agreement for a major new project with the same customer, with a contract value of at least $1.5m. The new project is expected to be delivered over the next six months, with the majority of the revenue therefore falling into FY2025 and helping to underpin a sizeable portion of that year's forecasted revenues.
The operator of premium pubs and bars, trading mainly under the Revolution, Revolucion de Cuba and Peach Pub brands announces that the Restructuring Plan proposed by the Group's Subsidiary, Revolution Bars Limited , was sanctioned by the Court on 8 August 2024. As previously announced, the Plan, which was launched on 31 May 2024, will enable the Revolution Bars to restructure certain of its liabilities. This includes amending and extending the Group's secured lending facilities, exiting the leases of certain loss-making sites, and implementing necessary rent reductions on certain other sites to enable them to return to profitability at a sustainable level. The Board expects the Plan to deliver a significant annualised EBITDA improvement of c. £3.8m.
The provider of intelligent monitoring and maintenance systems for commercial and industrial equipment announces that it has entered into a non-exclusive new product development agreement with a global engine OEM. The Agreement is for the development and commercialisation of a new real time sensor (based on the Company's core technology) to monitor the condition and degradation of aqueous fluids such as coolants, cutting fluids and water based hydraulic fluids. The Agreement is worth approximately £200k which is expected to be fully recognised in the current financial year ending 31 December 2024. The Company plans to have the product completed and ready for live trials by the end of Q4 2024. Post this development phase, potential revenue in the subsequent five years could exceed £2.0m
Status of this Note and Disclaimer
This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.
Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of the UK retained version of section B of annex I to Directive 2014/65/EU ("MIFID II Directive"); or (ii) investment research as defined in the UK retained version of article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority's Conduct of Business Sourcebook).
This document should not be relied upon as being an independent or impartial view of the subject matter. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority's Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as "relevant persons"). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority's Conduct of Business Sourcebook.
Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.