ALBA Placing, BOOM AUPEO Deal, BEM Placing, CLIN Agreement, FIPP Development, GLIF Invests, MDZ* Contract Extension, MSG* Letter of Intent and Business Solutions to be used by GSP, NIPT Collaboration, OPTI* Contract Signed, PEG* Final Results, RCN Trading Update, SVR Contract Signed, SRT Acquisition, UKOG Acquisition, WAND Joins Open Data Platform
The Hybridan Small Cap Wrap is a weekly review of some of the most interesting small cap stories of the past week. Our review will usually be of those companies whose market capitalisations are less than £50m although we may occasionally cover larger companies.
Alba Mineral Resources, the UK based exploration company, announces that it has raised£0.5m inoversubscribed placing, at a price of0.25per ordinary share. Thethe placing will be used to satisfy the purchase price for the company's acquisition of a further 5 percent interest in Horse Hill Developments Limited, for ongoing commitments to existing projects, for the evaluation of new project opportunities and for general working capital purposes.
Audioboom,leading spoken-word audio on-demand mobile platform, announcesglobal agreement with Aupeo GmBH, a market leading supplier of in-vehicle platforms and personalised content for connected vehicles. Aupeo recently launched Personal Radio by AUPEO!, the in-car infotainment platform and service which allows consumers to listen to news, sports, traffic and weather with their favourite music in their own intuitive, personal and vehicle-friendly radio station.The service is currently available on more than 5m vehicles globally, covering 20 automobile brands and 60 countries. Audioboom will be a global provider and delivery platform of audio content to Aupeo and will create, curate and seamlessly deliver UK, US, Australian and European news, sport, comedy and entertainment audio content directly into the Personal Radio by AUPEO!-car infotainment platform. The collaboration further enhances Audioboom's reputation as a global brand, and seeks to position Audioboom as a leader in spoken-word audio content within the automotive market. Audioboom will generate revenue-sharing income based on the installed base which include the Audioboom "stations" as well as a 50 percent share of advertising revenue (net of channel fees) generated on clips listened to for over 30 seconds. In the short-term revenue expectations are likely to be modest but the Board expect these to increase significantly as take-up and familiarity grows.
Beowulf Mining (LON:BEM)
Beowulf, the mineral explorationdevelopmentfocused on theiron ore project in northern Sweden, announces a placing of £0.35m. The company has raised approximately £0.35m at a price of 1.2 pence per placing share. The capital raise comes on top of the £150,000 injection announced earlier in the year. Furthermore it represents another milestone for the Beowulf leadership team and provides them with the working capital to focus on gaining an early and positive decision by the Swedish Government on the Kallak North Exploitation Concession, and to concurrently advance other value creating opportunities.
Clinigen Group (LON:CLIN)
Clinigen Group announces the extension and renegotiation of the exclusive license and distribution agreement with Hospira Inc for its anti-viral product Foscavir® in the US. is expected to be beneficial to both parties, as the original distribution agreement with Hospira established in July 2011 was due to expire in May 2017, but the new agreement is for five years extending the term to 31 December 2019. Foscavir® is Clinigen's lead product and received FDA approval in May 2012 for the treatment of HIV/AIDS-related cytomegalovirus infections and herpes. In September 2014, the FDA recognised the determined efforts made by Clinigen in providing Foscavir® to patients in the US by awarding Clinigen the first Drug Shortage Assistance Award.
Frontier IP, which specialises in the commercialisation of university intellectual property, announces a key development at its portfolio company Pulsiv Solar Ltd. In preparation for the next phase of its commercialisation, PulsiV Solar has entered into an extended licence agreement with the University of Plymouth.This new agreement now includes three patent applications and covers further intellectual property associated with circuit control and current conversion. PulsiV Solar, a spin-out from University of Plymouth, wasto exploit a novel approach developed to improve the power take-off from photovoltaic solar panels.The technology is designed to replace, and exceed the performance of,a standard commercial technology used in inverters known as Maximum Power Point Tracking (MPPT).progress has been made in development, testing and prototyping of the potential device, including positive results from benchmark testing against a leading inverter manufacturer's product. In order to accelerate its commercialisation, PulsiV Solar intends, with the support of Frontier IP, to seek its first round of funding over the coming months.
GLI Finance (LON:GLIF)
GLI Finance Limited, a specialist provider of finance to small and medium-sized enterprises, announces that it has agreed to invest $1.25m in Open Energy Group (OEG), a US marketplace for commercial solar investment, in return for a 21.6 percent equity stake in the business. GLI will also extend a $5m revolving loan facility to underwrite solar project loans and Geoff Miller will be appointed to the Board of Open Energy Group. OEG funds the growth of US solar power infrastructure by lending against high quality commercial solar power assets.OEG gives developers and operators of US commercial, industrial, and small utility-scale solar projects the opportunity to access non-recourse debt finance. OEG underwrites and structures solar project loans through its proprietary technology process, centred on a strict risk methodology, providing investors with security and choice around their investment products. The Open Energy online investment marketplace enables accredited and institutional investors to invest into high quality solar project debt.
MediaZest, the creative out-of-home audio-visual company, announces an extension of the contract for its retail data gathering product, "MediaZest Retail Analytics" originally announced in November 2014. Following successful early months with this product, the contract has been extended by the client through to February 2016. Although the revenue stream from this extension is relatively small for a single site, it is of significance that the system reports have been deemed sufficiently desirable to warrant contract extension at this early stage of development. Extension of the contract demonstrates the scope for this product to generate an additional stream of recurring revenue for the group. The company will further promote the offering, along with its other services, at the Retail Design Expo which is being held at London Olympia this coming week. The group is exhibiting in conjunction with SFD Ltd following a successful strategic partnership established in early 2014 which has already included a joint exhibition at Euroshop in Dusseldorf in February 2014.
Milestone Group (LON:MSG)*
Milestone, the provider of digital media and technology solutions announces that Charlton Athletic Community Trust (CACT) has signed a letter of intent to licence, from Milestone, the Be United Platform and share commissions generated from the platform. CACT has a number of initiatives that aim to help young people to develop and find employment and they now wish to licence the platform from Milestone to register and track selected CACT initiatives, such as the registration of young people engaged in employment related training. CACT will also have access to Milestone's emotional intelligence training and Mobile Business Solutions apps as required, on a subscription basis. The agreement will see revenue sharing between Milestone and CACT, cross promotion and commercialisation of services and opportunities, as well as sharing of participants and employers to increase the opportunities available to young people through the Passion Project. Milestone, also announces the Green Skills Partnership (GSP) is including both the Passion Project and Milestone's mobile business solutions in its new initiative to get construction workers into jobs. The project aims to drive growth within the Construction sector, supporting companies to grow and take on local, suitably qualified labour.
OptiBiotix Health (LON:OPTI)*
OptiBiotix Health, a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announces that it has signed a third agreement with NIZO Food Research BV (NIZO), the contract food research organisation based in the Netherlands. OptiBiotix is contracting NIZO to screen strains of bacteria for the presence of enzymes which produce novel oligosaccharides. This contract extends OptiBiotix’s screening programme on Lactobacillus species to other species of bacteria. 360 strains have been selected from OptiBiotix’s own collection and partner collections, and the strains have been selected to produce sugars with a potential to manipulate the human microbiome in order to manage high cholesterol, obesity, and diabetes. The strains demonstrating high enzyme production will undergo additional testing to determine enzyme activity and sugar structure. This work will help identify non-digestible sugars with the potential to act as calorie free sweeteners, and/or selectively enhance the growth rate of specific microbial strains, species, and genera, to modulate the human microbiome to prevent, manage, and treat disease.
Petards Group (LON:PEG)*
Petards Group, the developer of advanced security and surveillance systems, reports its audited results for the year ended 31 December 2014. The operational results for the year saw the order book maintained to close at £20m (2013: £20m). The group has also secured a five year framework agreement with Siemens Mobility Division for the supply of Petards train related products and services under which over £3m of orders received to date. The financial results for the year showed the group returned to profitability, with revenues more than doubling to £13.5m (2013: £6.3m), EBITDA £1.0m profit (2013: £0.7m loss) and a profit after tax of £0.6 m (2013: £2.3m loss) with operating cash inflows generated of £0.8m. The group also proposed that over 50 percent of the opening order book scheduled for delivery is in 2015 and performance in 2015 is in line with management's expectations.
Premaitha Health and Esperite NV announces the signing of an agreement under which Genoma SA, the fully owned subsidiary of Esperite, will have the right to use Premaitha's CE-IVD IONA® test for its non-invasive prenatal testing (NIPT) service called TRANQUILITY®. Access to Premaitha's test will allow Genoma to apply the CE-IVD marking to its NIPT for trisomies 21, 18 and 13. The IONA® test is the first CE-markedin vitroproduct for NIPT. It uses next-generation sequencing technology to estimate the risk of a foetus having Down's syndrome (Trisomy 21), Edwards' syndrome (Trisomy 18) and Patau's syndrome (Trisomy 13) by analysing cell-free foetal DNA from a sample of maternal blood. The NIPT test is more sensitive and specific than the current combined test, providing accurate and reliable results to pregnant women.benefits of NIPT are a higher detection rate and lower false positive rate than existing screening tests, giving pregnant women, their families and their doctors greater confidence in the result. This further reduces the need for unnecessary invasive follow-up tests and the associated anxiety and stress.
Redcentric, a leading UK IT managed services provider, provides an update covering trading and financial progress for the second half of the financial year to 31 March 2015. Strong performance maintained into the second half of the year with continued organic growth in contracted recurring revenues. Revenue and EBITDA for the year are expected to be comfortably in line with market expectations, with strong cash generation allowing a continued reduction in net debt as well as a progressive dividend policy. The company's focus remains on continued organic revenue and EBITDA growth, with low level of gearing enabling the Group to consider accretive acquisitions. Trading in the second half of the year has continued the pattern reported in the first half, with good performance across the whole business, strong organic growth in recurring revenues and continued expansion of EBITDA margins. The Group's cash-flow continues to enable a reduction in net debt in line with expectations alongside the progressive dividend policy. With high levels of recurring revenue and strong EBITDA margins and cash-flow, the Group is well set to maintain its growth momentum.
ServicePower Technologies, a market leader in field service management technology, announces that it has signed a five year contractits ServiceScheduling solutiona leading global manufacturer ofhot water products. The client manufactures and distributes smart, sustainable, integrated climate and sanitary hot water products, such as biomass, solar thermal, heat pumps and micro-CHP heating solutions. The manufacturer operates in 70 countries worldwide, including Germany, France and the UK, as well as Eastern Europe, North America and China. ServicePower's patented ServiceScheduling technology will provide the client with on-premise scheduling technology for both employed and dedicated contracted labour in Europe, beginning with Germany and expanding to France and the UK.ServiceScheduling will enhance the flexibility, responsiveness and productivity of its field service team, while also providing it with the localisation and product features to support rollouts in countries across the globe.Additionally ServiceScheduling willsimpler installation and maintenance of the client's hallmark brands by optimising the deployment of a variety of labour resources.
Software Radio Technology, provider of maritime domain awarenesstechnologies, announces that it has acquired joint and several rights to a US registered patent granted in March 2009 (US Patent Ref: US7512095), which covers the use of Carrier Sense Time Division Multiple Access (CSTDMA). The Company has acquired the rights to the Patent from one of its original owners and now is equal owner of the Patent with Mark Johnson. TDMA is one of the fundamental technical features of the overall AIS technology protocol specified in the International Telecommunications Union (Doc Ref: ITU-R M.1371) AIS technology standard. TDMA system ensures optimal efficiency of available bandwidth allowing transmissions to be managed dynamically according to the loading of the system at any given time.
The Board of UKOG announces that yesterday it completed the previously announced acquisitions of interests in offshore licence P1916 (offshore Isle of Wight) and onshore licence PEDL 126 (containing the Markwells Wood oil discovery). The licence interests acquired by UKOG comprise: A 7.5 per cent interest in P1916 from Egdon (E&P) Limited//A 5 per cent interest in P1916 from Montrose Industries Limited//A 10 percent interest in PEDL126 from Egdon Resources U.K. Limited. UKOG's interests in P1916 and PEDL126 are now respectively 77.5 per cent and 60 per cent. detailed in the Company's RNS of 20 February 2015, the Company's total interest in PEDL126 will ultimately increase to 100 per cent upon completion of the signed agreement with Magellan Petroleum (UK) Limited to acquire their 40 per cent interest in the licence.
WANdisco has joined the Hadoop Open Data Platform (ODP) as a founding member. The ODP is a shared industry effort to promote Hadoop and other Big Data technologies for the enterprise. Members of the ODP initiative include industry-leading vendors such as Hortonworks, IBM, EMC, Splunk, General Electric, Pivotal, Cap Gemini, Teradata and SAS. The ODP's mission is to accelerate delivery of Big Data solutions by providing a common core including, but not limited to, Hadoop distributions. With these partners, WANdisco will market its next-generation Big Data product,WANdisco Fusion, which unifies data access and availability across Hadoop and Hadoop-compatible storage providers including Hortonworks, EMC, MapR and Amazon. WANdisco Fusiontheir patented replication technology for Hadoop and extends it across a much wider set of underlying data storage environments, including mixed on-premise and cloud deployments. It expands their market of potential addressable customers, to whom the product is already being demonstrated. WANdisco Fusionreplicates between storage environments in a way that is non-invasive to the underlying technologies of their partners so can be easily deployed with them without heavy integration efforts.