15 Sep 2020
*A corporate client of Hybridan LLP
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What’s cooking in the IPO kitchen?
Guild Esports a UK-based owner and developer of esports teams, has announced its intention to seek a listing of its ordinary shares to the Standard Listing segment of the London Stock Exchange this autumn. its founding shareholders include David Beckham, former football player and captain of England, and now co-owner of new MLS team Inter Miami CF.
HOME REIT intends to float to the Main Market raising up to £250m. The Company will seek to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the homeless. Due Mid October
S-Ventures - The Company will look to identify investment opportunities in the wellness sector within the UK and Europe. Due 16 Sep on the Aquis Exchange.
Sativa Wellness Group—(Canadian Securities Exchange: STIL) renamed from Stillcanna Inc following the conditional acquisition of Sativa Group (AQSE:SATI) to list on the AQUIS Exchange. A fully integrated European seed to consumer CBD group with the pricing, products, and stability to meet the CBD market demand in the medium term. With world-class extraction and formulation experts, an agricultural team that has over 20 years’ experience farming hemp, along with laboratory testing capabilities, the group has established itself globally as a trusted source of high-grade, premium wholesale CBD brands and products.
Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List
The Hut Group. Expected intention to float on the Main Market. THG is a vertically integrated digital-first consumer brands group, retailing its own brands in beauty and nutrition plus third party brands, via its proprietary technology platform to an online and global customer base. For the year ended 31 December 2019, THG's revenue was £1.1 billion, up 24.5 per cent. year-on-year, and its Adjusted EBITDA was £111.3 million, representing an Adjusted EBITDA margin of 9.8 per cent . The Company has experienced an acceleration in growth during 2020, with revenue of £676 million, up 35.8 per cent. on the equivalent prior year period , achieved in the 6 months to 30 June 2020, which the Directors believe evidenced the non-discretionary nature of the nutrition and beauty categories .
Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.
Symphony Environmental Technologies* 30p £51.5m (LON:SYM)
The Company has received notice to exercise warrants representing 5,000,000 new ordinary shares . Upon Allotment, Symphony will receive £1,000,000 cash proceeds . Symphony yesterday announced new positive coronavirus test results of its d2p antimicrobial plastics masterbatch showing high efficacy over shorter time frames than previous results, including a 99.9% reduction of viral load within 1 hour.
Interim results also out yesterday saw a 17% in HY Jun 20 revenue to £4.8m and a return to profitability. The statement also referred to agreed amended terms for its investment in Eranova, a technology which extracts starch from marine algae/seaweed (a natural waste product) for use with other materials. This is a massive uncontrolled resource, polluting beaches and the sea. It is a major environmental concern for maritime cities and states and needs constant clearance. The amended terms see Symphony’s proposed investment reduce from EUR 0.5m to EUR 0.1m with distribution rights retained.
Galileo Resources 0.835p £6.4m (LON:GLR)
Conditional acquisition of 100% of Africibum Co Pty Ltd and its interests in the North East Kalahari Copper Belt project in Botswana.
· Galileo ground position in Kalahari Copper Belt extended to include Quirinus copper-silver prospect with historic shallow drill intercepts
· Three-hole RC drilling programme by previous explorer all intersected mineralisation along 600m soil anomaly, including 4m @ 1.7% Cu, 13g/t Ag and 6m @ 0.9% Cu, 14g/t Ag
· Copper-in-soil anomalies extend for 13.4km in total, much of it untested
· Tenement lies within 15km of major copper-silver discoveries, part of Cupric Canyon Capital's Khoemacau Project
· Other licences are little explored but believed to be partly underlain by the target host rocks
Thor Mining 0.675p £8.65m (LON:THR)
£1.1m placing at 0.6p. Funds raised to be utilised for exploration activities at the Ragged Range, gold & nickel project in the Pilbara region of Western Australia, further investment in EnviroCopper Limited with a primary objective of drill testing the gold potential at Kapunda, exploration activities on uranium and vanadium projects in the USA, and general working capital.
HY June 20 results from the venture capital company investing in high-growth, technology companies across a number of core specialist sectors.
· COVID-19's overall effect on portfolio companies is mostly neutral or positive
· NAV per share of US$3.46 (decrease of 1.7% from US$3.52 as of 31 December 2019)
- US$1.57 million in positive revaluations (PandaDoc and HealthyHealth)
- US$2.75 million in impairments (Le Tote)
· Majority of portfolio companies continue to grow in double digits, with some investees specifically benefiting from the COVID-related market changes (MEL Science, Vinebox, Legionfarm, Hugo, ClassTag, Scentbird, etc.)
· A number of portfolio companies raised capital at significantly higher conversion caps, creating future revaluation upside potential (Bolt, Legionfarm, and ClassTag)
· Two new investments made during the period (ClassTag and 3S Money Club)
· Post period end completed a further 6 investments in new (Moeco, Volumetric, and Feel Holdings) and existing (Pipedrive, Hugo, and Scentbird) companies and remain well funded to continue to expand and support the Company's investment portfolio
Q1 update from the Company which designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy and medical sectors. Overall order intake during the first quarter of the financial year (1 June - 31 August) has been in-line with management expectations and trading conditions are gradually normalising. Notable orders secured in Q1 include further nuclear sector contract wins: a US $2.8 million contract in South Korea and a £1.5 million contract with a nuclear plant operator in the UK.
Bonhill Group 7.375p £7.3m (LON:BONH)
Further to its announcement of 22 June 2020, Bonhill Group, a leading B2B media business specialising in three key areas: Business Information, Events and Data & Analytics, announced that Sarah Thompson has joined the Board and been appointed as Chief Financial Officer with immediate effect.
Sarah, who joined the Company in May 2020 as Director of Finance, has been responsible for its day-to-day finance function since June 2020, having previously held senior finance positions at Escada SE and Redcentric PLC. Prior to this, Sarah held various finance positions at Hallmark Cards UK, Homeloan Management Limited and Barclays PLC. Sarah graduated with a First Class Degree in Accounting and Finance from Lancaster University.
The owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva Vodka announced the launch of RedLeg Banana Rum, the second flavour extension for the Redleg Rum brand, along with a branding refresh across the range.
The new flavour will build on the success of RedLeg Spiced Rum (launched 2013) and RedLeg Pineapple Rum, which launched in 2019 and has delivered incremental sales for the brand in major retail outlets since its launch.
Bidstack 5.8p £22.5m (LON:BIDS)
The native in-game advertising platform, has signed an exclusive partnership agreement with Ubisoft, a leading video game company, to deliver native in-game advertising for Hyper Scape, its futuristic, free-to-play, urban battle royale game that was officially launched on 11 August 2020.
Bidstack will deliver in-game advertising for Hyper Scape across both PC and console devices, including Xbox One and PlayStation 4.
This partnership follows Bidstack's supply-side strategy to focus on working with the world's leading video games developers and publishers to incorporate Bidstack's proprietary technology into their games.
Beeks Financial Cloud 92p £47m (LON:BKS)
Beeks Financial Cloud Group PLC (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce its final results for the year ended 30 June 2020.
· Revenues increased 27% to £9.36m (2019: £7.35m)
· Annualised Committed Monthly Recurring Revenue (ACMRR) up 23% to £11.2m (2019: £9.1m)
· Underlying EBITDA increased 34% to £3.33m (2019: £2.48m), including IFRS 16 adjustment of £0.52m (an increase of 14% excluding IFRS 16) · Underlying profit before tax increased 8% to £1.43m (2019: £1.32m)
· Net debt as at 30 June 2020 of £0.75m (30 June 2019: Net cash £1.02m)
· Proposed final dividend of 0.15p per share equating to full year dividend payment of 0.35p (2019: 0.35p)
· Positive market environment and considerably increased sales pipeline
· Confident in securing additional Tier 1 customers in the year ahead
Evgen Pharma 12.875p £17.7m (LON:EVG)
The clinical-stage drug development company, announced the licensing of its sulforaphane stabilisation technology in a number of non-pharmaceutical applications to Juvenescence Ltd. In particular, Juvenescence intends to market and sell a high-end nutritional health product containing a defined dose of sulforaphane extracted from natural sources. Under the terms of the license agreement, Evgen will receive milestone and option payments of up to $10.5m as detailed below. Evgen will also receive royalties on future product sales.
This agreement monetises one element of Evgen's sulforaphane technology platform within a timescale considerably shorter than that typical of pharmaceutical development. Evgen's focus will remain on progressing its therapeutic programmes, and the Agreement contains provisions which ensure a clear differentiation between potential nutritional health products and pharmaceutical products, including limitations on daily dose.
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