Small Cap Brunch
Total number of AIM Companies (Incl Susp):
Total number of AIM Companies trading:
*as at close of business 12 April 2018
Standard List** of Main Market:
Total number of Standard List Companies
Total number of Standard List Companies trading:
*as at close of business 12 April 2018
NEX Growth Market:
Total number of NEX Growth Market Companies (Incl Susp):
Total number of NEX Growth Market Companies trading:
*as at close of business 12 April 2018
*A corporate client of Hybridan LLP
** Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity
Dish of the day
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Off the menu
Tiso Blackstar Group (AIM:TBGR) has cancelled its quoting on AIM
What’s cooking in the IPO kitchen?
KRM22, a closed-ended investment company with a particular focus on risk management in capital markets, is looking to join AIM. Offer tbc, expected 30 April 2018
Main Market Premium Listing
Avast, global cybersecurity provider with 435m users worldwide. In 2017, the Group’s Adjusted Billings was $811 million, Adjusted Revenue was $780 million, Adjusted Cash EBITDA was $451 million. Seeking to raise $200m. Due in May.
Fundamentum Supported Housing REIT. Raising £150m. Focussed on UK Social Housing assets. Due 2 May
Vivo Energy—retailer and marketer of Shell-branded fuels and lubricants in Africa, Due in May. 100% secondary sell-down of existing Shares by Selling Shareholders, No new Money. Pricing TBA
Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects. Due 03 May.
Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.
Polarean Imaging (LON:POLX) 15.5p £11.3m
Polarean Imaging, the medical-imaging technology company, with a proprietary drug-device combination product for the magnetic resonance imaging (MRI) market, noted the publication of a study using Polarean’s hyperpolarised gas MRI technology in a study of patients with severe asthma in the April edition of the American Journal of Respiratory and Critical Care Medicine (AJRCCM).
The study looked at patients with severe asthma and investigated the contributions of both inﬂammatory and non-inﬂammatory components of airway disease. A key finding was that MRI scans using hyperpolarized gas were able to identify, for the first time, the airway inﬂammatory (eosinophilia) and non-inﬂammatory contributions (smooth muscle dysfunction) to ventilation heterogeneity in patients with severe asthma.
The findings of the study suggest that in patients with severe asthma, inhaled hyperpolarized gas MRI may help discriminate between the different components of severe asthma, enabling more precise and personalised treatment decisions.
TP Group (LON:TPG) 5.85p £42.86m
TP Group, the specialist services and engineering group, announced its audited results for the year ended 31 Dec 2017.
Revenue up 39% to £29.5m (2016: £21.2m)
Adjusted EBITDA up 142% to £2.6m (2016: £1.1m)
Operating loss £0.5m (2016: £0.3m)
Closing cash of £21.9m (2016: £9.2m)
Order intake up 88% to £44.7m (2016: £23.8m)
Closing Group order book up 89% to £32.1m (2016: £17.0m)
Continued implementation of growth strategy across the business
Strengthened management team
Raised £20.8m to fund ambitious growth plans
Invested in Advanced Manufacturing Centre (£1.3m)
Completed two acquisitions in accordance with stated strategy
SkinBioTherapeutics (LON:SBTX) 10.6p £11.5m
SkinBioTherapeutics, a life science company focused on skin health, announced that the ‘cream’ formulation of its SkinBiotix® technology has passed effectiveness studies in models of skin. The cream formulation will now undergo further testing for stability in the coming weeks.
SkinBioTherapeutics’ platform, SkinBiotix®, utilises extracts of probiotic bacteria for application to the skin. The Company has shown in skin models that its technology can improve the skin’s barrier function.
The cream has been formulated to contain SkinBioTherapeutics’ proprietary technology, SkinBiotix®. A crucial feature of the formulation phase is to test that the cream-SkinBiotix® combination retains the same beneficial properties as the original technology.
One important effect of SkinBiotix® in proof of concept studies was the increase of a specific skin protein essential to the barrier function of the skin. This effect was also shown when tested as a cream formulation. The data further showed a direct correlation between the amount of SkinBiotix® within the cream and the level of the protein present. Work on creating skin lotion and gel formulations is ongoing.
Pelatro (lON:PTRO) 84p £18.7m
Pelatro, the global precision marketing software specialist, announced a major contract win with a Central Asian subsidiary of a Western European Telco, which has more than 6 million customers. The contract is expected to be worth approximately $1.7m and is the largest entered into by the Company to date. The majority of the fees are expected to be recognised in 2018. Pelatro will implement its Precision Marketing Solution mViva and will also guide the Telco in setting up a fully-fledged Customer Value Management department along with required processes.
Following this contract win, and building on the revenue visibility provided by its existing client base, the Board is confident that Pelatro will at least meet market expectations for the full year ending 31 Dec 2018.
The Company remains in discussions with several potential new Telco customers and will provide the market with a more detailed update on new customer progress at the time of the Company’s full year results on 1 May 2018.
Sativa Investments (NEX:SATI) 3.1p £12.7m
Sativa Investments, the UK’s first medicinal cannabis investment vehicle, has signed a MOU with George Botanicals Ltd, a UK-based manufacturer, wholesaler and distributor of wellness CBD products, to purchase a 51% shareholding from its owner, Carbon Managers Limited for an expected consideration of circa £0.2m. George Botanicals has been providing its customers with high quality natural CBD products since Sept 2017, including vape pens, balms, E-Liquids, drops and edible gels that are shipped throughout the UK and are 100% laboratory tested.
“George Botanicals may well be one of Sativa’s maiden investments and could provide an excellent gateway into the UK’s fast growing CBD retail marketplace. My own original investment in George Botanicals was the precursor to the founding of Sativa as it revealed the wider opportunities across the CBD industry.”
Harwood Wealth Management (LON:HW) 150p £93.8m
Harwood Wealth Management, a UK-based financial planning and discretionary wealth management business, announces changes to the roles of certain board members.
Neil Dunkley, currently Joint CEO, will become MD of Financial Planning. Neil will remain an Executive Director of Harwood Wealth and the change in role will enable him to fully dedicate his time to management of the financial advisory business.
Alan Durrant, currently Joint CEO, will assume the role of sole CEO of the Group. Alongside his responsibilities as CEO, Alan will continue to lead the growth of Wellian, the investment management division of the Group.
These changes have been driven, in part, by the forthcoming changes to the Senior Managers Regime and as part of the Group’s continuing evaluation of how best to organise its internal structure and reporting lines.
In addition, Nick Bravery, currently Group CFO, has informed the Group of his desire to step down as CFO with effect from 31 Oct 2018. Nick will assume the position of Company Secretary, a non-board role, moving forwards. The board intends to appoint a replacement Group CFO prior to Nick’s transition and has identified a number of appropriate candidates. Further announcements will be made at the appropriate time. In the meantime, Nick will remain as Group CFO until 31 Oct 2018 alongside the Group’s strong finance team.
Alliance Pharma (LON:APH) 75.2p £362.2m
Alliance Pharma, the specialty pharmaceutical group, announced that its wholly owned subsidiary, Alliance Pharmaceuticals Limited, has agreed to sell its 60% interest in non-core Unigreg Limited to its joint venture partner, Pacific Glory Development Limited, for a consideration of £2.9m.
Unigreg owns the rights to Forceval, a micro-nutrient supplement used in pregnancy, in China and some nearby territories. Alliance will continue to market the Forceval brand in the UK.
Through the Unigreg joint venture, Alliance has had an economic interest in China since 2007 and it remains a key territory for the Group. Last year, Alliance established its own affiliate in Shanghai to market a range of child nutraceutical products sold in China and to maintain close links to the Shanghai-based distributor of Kelo-cote™ in China, the product’s largest market.
Forbidden Technologies (LON:FBT) 7.25p £12.9m
Forbidden Technologies, the developer and seller of cloud video platform technology using its patented Blackbird technology announced a preliminary collaboration with a leading Japanese telecommunications operator through its partnership with Dragon Touch Systems Inc.
Blackbird will be utilised in a specific part of the telco infrastructure to allow its B2B customers to edit and version content in the cloud. The proxy is continually uploaded to the Blackbird cloud and presented as growing files, where it is accessible to reviewers and a team of editors for daily collaboration. The team has the added advantage of speed, providing viewing and remote capabilities, which Blackbird offers without the bandwidth constraints.
This proxy-based cloud workflow offers enormous benefits of time management, collaboration efficiencies and flexibility to producers and broadcasters in the region.
Beowulf (LON:BEM) 6.65p £35.52m
Beowulf, the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announced the signing of a Graphite Collaboration Agreement with Åbo Akademi University, located in Turku, Finland.
The Agreement formalises the partnership that the Company, and its subsidiary Oy Fennoscandian Resources AB, has forged with Åbo over several years. The Agreement is focused on knowledge sharing, the identification of graphite prospects, their exploration, and development into production assets.
Mercia Technologies (LON:MERC) 39.5p £117.2m
Mercia Technologies, the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, announced that Matthew Mead, Mercia’s CIO, has notified the Group of his desire to step down from the Board and from his role as CIO with immediate effect, in order to pursue a portfolio advisory career. Following a handover period, Matt will remain working part-time with the Group as a Venture Partner, sitting on several investment panels for Mercia’s managed funds. Matt will ensure an orderly handover of responsibilities to Mercia’s current Head of Technology Investments, Julian Viggars, who is promoted to CIO and joins Mercia’s Board with effect from today.