Proactive Investors - Run By Investors For Investors

Small Cap Breakfast News - 88 Energy; Haydale Graphene; MediaZest and more...

Small Cap Breakfast News - 88 Energy; Haydale Graphene; MediaZest and more...

Small Cap Feast                           

22 February 2019                            

Set menu

AIM:

Total number of AIM Companies (Incl Susp):

910*

Total number of AIM Companies trading:

842*

*as at close of business  18 February 2019

Standard List**  of Main Market: 

Total number of Standard List Companies

(Incl Susp):

145*

Total number of Standard List Companies trading:

128*

*as at close of business 18 February 2019

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

89*

Total number of NEX Growth Market Companies trading:

87*                 

*as at close of business 18 February 2019                              

*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

No Joiners Today

Off the menu      

No Leavers Today

                             

What’s cooking in the IPO kitchen?

Main Market (Premium)

DWF, a global legal business,  expects to raise primary gross proceeds of approximately £75m. Due March

AIM

United Oil & Gas (LON:UOG) an oil and gas exploration and development company brought to the Official List (Standard Segment) in July 2017 by way of a reverse takeover of Senterra Energy plc. No capital to be raised, expected market cap of £17m and expected 1 March

Techniplas –global  producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient.  FYDec17 rev $515m. 

Polemos, to be renamed Digitalbox plc, has agreed to acquire Digitalbox Publishing Holdings Limited for c.£10m through a share for share exchange. The acquisition constitutes a RTO. Polemos has also agreed to acquire the entire issued share capital of Mashed Productions Limited, a digital media business which owns the online satirical news website "The Daily Mash", for a maximum total consideration of up to £1.2m. Market cap on admission £12.4m, expected 28 February                      

Banquet Buffet

Ariana Resources (LON:AAU) 1.98p £20.66m

Quarterly operating results (Dec18) from the Kiziltepe Mine.   Gross income for the year is $37.80m from production of 27,110 ounces of gold.

Gross income for the quarter is $10.62m and at an average realised gold price of $1,238 per ounce, against an average revenue per gold ounce of $1,413 (due to silver credit).

Production and sale of 7,517 ounces of gold during the quarter ending 31 Dec 2018.

Operating cash costs for the quarter are estimated at $349 per ounce.

Operational mill availability running at 99% and utilisation at 97% during Dec.

49,717 tonnes ore milled during the period ending 31 Dec 2018 at an average head grade of 5.23 g/t Au.

Process recoveries of gold remain high at c.92% at the end of the quarter.

 

Inspiration Health (LON:IHC) 58p £18.55m

FYJan19 trading update from the  global medical device company.

“The Company has continued to perform well in a difficult environment and expects to report revenues of approximately £15.5m, constrained by well publicised regulatory delays and PBT of approximately £1.2m, which is in line with our expectations.

It is expected that preliminary results for the year ended 31 Jan 2019 will be announced on 30 Apr 2019. 

"We go into the new year with a very strong order book and look forward to building on our international successes of last year.  We now have a strong management team in place, increasing interest for the new products we launched last year and I believe we are well placed to achieve double digit revenue growth going forward."

 

MediaZest* (LON:MDZ) 0.10p £1.29m

Conditional placing of £110k at 0.1p.

Whilst there is a clear trend for retailers over the longer period to invest in better stores and particularly in digital signage technology,  the Company is seeing evidence of retailers slowing or deferring investment decisions. Given this current uncertainty the Board believe it prudent to raise additional funds to improve the Group’s working capital position and strengthen its balance sheet.  As larger projects and clients are becoming the norm, there are increased demands on cashflow where certain projects need to be funded during the delivery phase .

The Board is aware of the dilutive nature of any fundraising at the current share price and has therefore limited the amount raised to cover these two requirements only, via a handful of existing shareholders.

 

Gaming Realms (LON:GMR) 5.05p £12.94m

The developer, publisher and licensor of mobile real money and social games, announces that the Company has entered into agreements with River iGaming plc, a company listed on the Merkur Market of the Oslo Bors.

The Company will sell the entire issued share capital of Bear Group Limited, the Company's real money operating subsidiary, to River Game Operations Limited  and grant River Technologies Limited (a River Group Company) a sole perpetual licence to the Group's real money gaming platform, as well as sell its residual 30% stake in River UK Casino Limited  to River iGaming.

The cash consideration for these transactions will total £11.5m, which will include the settlement of the contracted deferred consideration of £4.2m owed by River UK Casino to the Group (due in Oct 2020) under the terms of the Acquisition.

 

Reach4Entertainment (LON:R4E) 1.25p £12.57m

The entertainment marketing communications group, announced its proposed Acquisition of Agency Press Limited (trading as "Sold Out"), an independent full-service advertising agency, which, in part, will be funded by way of a conditional placing. The Company has provisionally placed 250,000,000 new Ordinary Shares at 1.2p per share and the Placing will raise gross proceeds for the Company of £3£m. London-based integrated agency Sold Out, has specialised in arts and entertainment advertising for over 25 years. During this period it has established a strong reputation in its field and built a portfolio of high profile clients, which includes S.J.M. Concerts, AEG Presents, Live Nation and Cirque Du Soleil. In the financial year ended 31 May 2018, Sold Out delivered gross profit of £4.1m, adjusted EBITDA of £1.7m and PBT of £1.3m.

 

APC Tech (LON:APC) 6.25p £11.02m

AGM Statement from the provider of design-in, specification and distribution services for specialist electronic components and systems, lighting technologies and connectivity products, will make the following statement concerning current trading:

"The Board are pleased with the start to the new financial year and can confirm that the Company continues to trade within management expectations."

FY Aug 19E rev £23m, PBT £1.63m. PE  <9x

 

Webis Holdings (LON:WEB) 3.35p £12.19m

The Group specialising in pool wagering and the operators of WatchandWager Cal Expo, the Californian harness track, announced that, further to the three month extension granted at the end of Nov 2018, its Advanced Deposit Wagering business, WatchandWager.com LLC received its two-year license approval from the California Horse Racing Board on 21 Feb 2019 in California.

The two-year ADW license renewal from the CHRB is for the years 2019-2021, and it allows WatchandWager to continue to accept online pari-mutuel wagers from residents of California.

We could see no forecasts.

 

Haydale Graphene (LON:HAYD) 2.38p £3.25m

Accelerated bookbuild raising £3.8m at 2p. Open offer of up to £4m. To fund general working capital, restructuring costs and investment in equipment alongside the delivery of short-term commercial targets.  Interim results today (HYDec18):

Group Revenues of £1.64m for the Period, 20% up on H2FY18, but 20% down on H1FY18;

Revenue from US operations up 10% to £1.28m from H1FY18;

Loss before tax for the Period was £3.47m (H1FY18: £2.74m); and

Cash at period end of £0.96m (30 June 2018: £5.09m)

 

88 Energy (LON:88E) 1.02p £64.27m

88E “is pleased to advise the following in relation to its oil and gas operations on the North Slope of Alaska.

Highlights: Winx-1

Surface casing has been run to ~2,500', as planned

Drilling of intermediate section scheduled to commence week beginning 25 Feb”

 

Bahamas Petroleum (LON:BPC) 1.62p £20.05m

 

The Company has received formal notification from the Government of The Bahamas as to the term of the second exploration period of the Company's four southern licences in the territorial waters of The Bahamas confirming that the second exploration period of the licences is extended until 31 Dec 2020.

This document, which does not constitute research, has been issued 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 should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. 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, directors, 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 UK, 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 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) 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 persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

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 UK or US securities law, or the law of any such other jurisdictions.

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, directors, 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.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior 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.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use