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Small Cap Wrap - Big Dish; Bezant Resources and more...

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AIM:

Total number of AIM Companies (Incl Susp):

935*

Total number of AIM Companies trading:

870*

*as at close of business  24 September 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

138*

Total number of Standard List Companies trading:

120*

*as at close of business 24 September 2018

 

NEX Growth Market:

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

90*

Total number of NEX Growth Market Companies trading:

88*                

*as at close of business  24 September 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

No Joiners Today

Off the menu    

Uvenco UK Plc—has cancelled its quoting on AIM pursuant to AIM Rule 1

                           

What’s cooking in the IPO kitchen?

Main Market (Premium)

Smithson Investment Trust—New Fund from Fundsmith LLP  established by Terry Smith. focused on a global basis on small and medium sized companies between £500m and £15bn in market cap . Due 19 Oct.  Seeking £250m raise.

Funding Circle—SME loans platform seeking raise of up to £300m plus a secondary sell down. Offer between 420p—530p, raising £282m for the Company and £296m to the selling shareholders with market cap of £1.6bn

Aston Martin— Iconic producer of hand-crafted luxury sports cars. Any prospectus would be published around 20 Sep. Targeting 25% plus free float. H1 results rev+8% to £445m, EBITDA £106m.  Due 3 October. Mkt Cap C.£4bn to £5bn

Mobius Investment—exploring the launch of a new UK investment trust. The trust will invest in small to mid-cap companies in emerging and frontier markets with an absolute return focus. Due 1 October

 

Main Market (Standard)

ECI Telecom— provider of comprehensive networking and data transport products and solutions. Raising c.$230m and potential sell down. Due late Oct

Trident Resources— Looking to acquire  assets in the advanced exploration, pre-production or production stage which have sufficient information available to enable the Company to undertake a financial assessment of the  asset’s likely economic viability

 

Main Market (Specialist Funds)

CEIBA Investments. the largest foreign investor solely dedicated to investing in Cuba, with existing total assets in excess of £160 million.  Raising up to £100m.  Due 10 Oct

Blue Ocean Maritime Income  - aims to generate long-term, sustainable shareholder returns, predominantly in the form of income distributions, from direct lending and similar financing opportunities to vessel owners and operators, and other maritime businesses.  Raising up to $250m. Due 23 Oct.

AIM

PetroTal (CVE:TAL) - The exploration and production company focused on oil assets in Peru is seeking a secondary AIM quoting before the end of 2018.

Path Investments— First acquisition of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m raise. Due early Oct

Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m.  Due Mid October 2018.  EBITDA Profitable. Offer TBA

Crossword Cybersecurity Plc* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months.                      

Banquet Buffet

Sareum Holdings* (LON:SAR) 0.77p £21.03m

FYJun18 results from the  specialist in small molecule drug development .

“The year under review has seen important progress made by Sierra Oncology with SRA737 and internally with the nomination of lead candidates SDC-1801 and SDC-1802 from the Company's proprietary TYK2/JAK1 programme. This progress and the increasing visibility on clinical inflection points positions the Company well to generate value for shareholders.

"We are very pleased with the confidence, commitment and decisiveness Sierra is showing with SRA737 in expanding and adapting the clinical development programme based on cutting-edge science and emerging data. We look forward to the preliminary clinical data, which is expected from both ongoing Phase 1/2 studies in the first half of 2019, and the start of a third clinical trial of SRA737 in combination with niraparib before the end of 2018.” Losses £1.47m, Cash £1.38m.

 

Big Dish (LON:DISH) 3.45p £9.86m

The company which operates a yield management platform for restaurants, has released a native Android and iOS Merchant App which will allow restaurants to modify any deal on any given day in real time. The App will also allow restaurants to receive push notifications of incoming bookings as well as the ability to alter the capacity and pricing of its deal periods. BigDish currently enables UK restaurants to fill capacity in the 'last minute' market and consumers can make bookings up to 48 hours in advance only.

Appointment of Sanj Naha to the company to assist in developing the UK strategy. Sanj has over 25 years experience in hospitality and over ten years' experience in hospitality technology. He previously worked for The Fork, a restaurant booking platform that was acquired by Tripadvisor in 2014 for a reported $140m.

 

Bezant Resources (LON:BZT) 0.39p £3.85m

The copper-gold exploration and development company, is pleased to announce that a 3D computerised overview of Bezant's Mankayan copper-gold project, located on the Island of Luzon in the Philippines, based on the existing historic JORC 2004 compliant resource estimate, is available on the Company's website.

An updated internal interpretation of the project's existing block model is currently being utilised by Bezant's management across a number of workstreams and an animated video version can be viewed at the Company's website.

A new data room containing information on the Mankayan Project is now in operation. Interested parties wishing to be granted access to the data room, subject to entering into a confidentiality agreement, should contact the Company

 

Big Sofa (LON:BST) 3p £2.48m

The ‘fast-growing international video analytics provider to the consumer insight industry, announces subscriptions for new ordinary shares of 3 pence each in the share capital of the Company at an issue price of 3p per new Ordinary Share to raise, in aggregate, approximately £1.68m before expenses.  That represents a 57.7% discount to Friday’s close.

Proceeds of the Capital Raising will be used to fund the expected working capital requirements of the Company for the next twelve months as it enters the next phase of growth, enabling Big Sofa to capitalise on its market leading position in technology-led consumer insight.

 

Shield Therapeutics (LON:STX) 35p £40.75m

The “commercial stage, pharmaceutical company delivering innovative specialty pharmaceuticals to address patients' unmet medical needs, today announces that it has received confirmation from the US FDA of its successful submission of an NDA for Feraccru®, Shield's lead product, which is already approved in the European Union for the treatment of iron deficiency in adults and in Switzerland for the treatment of iron deficiency anaemia in adults with inflammatory bowel disease.

The United States, representing over a third of the global pharmaceutical market, is a very attractive opportunity for Feraccru® and a market whichShield retains full ownership of, as well as complete control of the global intellectual property rights.”

 

Crusader Resources (LON:CAS) Suspended

“At the request of the Company, trading of its securities on AIM will be suspended from 7:30 a.m. today pending clarification of its financial position and to enable it to consider various proposed capital raising initiatives to provide working capital and to enable the Company to continue with the development of its two gold projects in Brazil.

The Directors confirm that the Company remains in positive discussions with a number of providers of both debt and equity funding and are considering a number of proposals with regard to asset divestiture.  However, no funding or disposal agreement has been concluded as yet.”

 

Eckoh (LON:ECK) 41.15p £104m

“The global provider of secure payment products and customer contact solutions, is pleased to announce that it has won a two-year contract worth $7.4m to provide secure payment solutions to one of the largest corporations in the United States. 

The contract was won in a competitive tender process.

Eckoh will implement its patented CallGuard tokenisation solution across the client's entire US organisation; protecting card payments made in its extensive contact centre facilities and automated systems, thereby assisting the client to become compliant with the Payment Card Industry Data Security Standard ("PCI DSS").”

FYMar19E rev£29.7m and PBT £1.89m.

 

Imaginatik (LON:IMTK) 2.15p £0.74m

Since the Company's announcement on 4 June 2018, the Company's financial performance has improved. This is as a result of the steps taken to reduce costs and since the start of June customers renewing their contracts, combined with new customer wins.  The sales pipeline has been scrutinised and cleaned. Whilst this has reduced the total value, there is a significant pipeline of qualified prospects for conversion over the next two quarters, sufficient to ensure the Company can trade at budget. In addition, a new marketing programme has commenced, and this is beginning to generate an increasing number of quality leads. In negotiations with certain Nomad with a view to selecting a replacement as soon as possible. Several existing and new potential investors have approached the Company  since the announcement on 26 Sept with interest and proposals.

 

Staffline (LON:STAF) 1284p £358.8m

Acquisition of Passionate About People. Comprises two companies: Omega Resource Group Limited, a leading UK provider of blue-collar, flexible, staffing solutions to the aerospace, automotive, construction, energy, logistics and manufacturing sectors, and Datum RPO Limited, a leading provider of recruitment process outsourcing solutions to blue-chip clients.

“In the year ended 30 June 2017, Passionate About People reported revenues of £72m and an operating profit of £2m. Consideration will be funded from Staffline's existing resources and is in line with our acquisition criteria.”

FYDec18E rev £1.1bn, PBT £36.6m, PE c.11x, yield >2%,

 

Two Shields (LON:TSI) 0.21p £2.8m

£500k  raised via a placing at 0.2p & issue of 125,000,000 warrants exercisable for two years at 0.3p per share

£200k to fund additional investment in cutting-edge social e-commerce platform WeShop

WeShop, led by Matthew Hammond and Andrew Lawley, highly experienced and proven technology and retail professionals, already has retail partnerships in place with major brands and retailers e.g. ASOS, Harrods, Nike, Tesco and Boots

 

Remaining proceeds to be invested in line with strategy to expose shareholders to value creation opportunities in technology-related mineral projects and, increasingly, digital assets and disruptive technologies.

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