SHORE CAPITAL - Wynnstay Group+ (WYN, House Stock at 474p)

Morning Note – 21 March 2023

M.P. Evans - Another strong year

MP Evans has delivered another strong year driven by an excellent crop and production performance and the continuing strength of the CPO price. However, profits are a tad below our top-of-range forecasts due to higher-than-expected cost pressures, namely fertiliser and the cost of buying in fresh fruit bunches (FFB), but cashflow and the dividend is better than forecast. Current trading is encouraging with production performance and the CPO price ahead of our assumptions. FY22 cashflow performan

Hybridan Small Cap Feast - 30 Jan 23

30 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you 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 object

Hybridan Small Cap Feast - 01 Feb 23

01 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you 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 objec

Steady progress in line with expectations

Hybridan Small Cap Feast 09/01/2023

Dish of the day Joiners: Hydrogen Utopia International (HUI.L) (AQSE: HUI) has dual listed on the Standard Segment of the Main Market. The Company's Ordinary Shares, which were already trading on the Access Segment of the Aquis Growth Market, has also moved to trading on the AQSE Main Market today. (09/01/23) While we were away: Streaks Gaming plc (STK.L) has joined the Standard Segment of the Main Market. STK develops casual games and a conversational gaming platform with a focus on partnering

Hybridan Small Cap Feast - 12 Jan 23

12 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you 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 object

N+1 Singer - Anpario - Strong H2; in line FY results

Anpario’s full year results are in line with expectations, following a strong and improved H2. The group is still in a transition phase, building strong commercial relationships with end users and appointing regional teams, and we believe the group will continue to grow as a result. Anpario currently trades on a 2017 EV/EBITDA of 11.7x, going to 10.8x in 2018. We feel this is an undeserved discount to its peer group (c.17.8x 2017 EV/EBITDA). We remain at Buy.

Modest forecast changes; remain at Hold

Anpario’s full year results highlighted a period of strong growth with momentum reportedly continuing into 2018. The group remains focused on building strong commercial relationships with end users and we expect the initiatives to help the group deliver our 11% sales growth estimate in 2018. We make modest adjustments to our forecasts this morning and increase our Target Price by 2p to 434p. We remain at Hold.

SHORE CAPITAL - Cake Box Holdings+ (CBOX) - House Stock at 117p - Appointment of Chief Financial Officer

Auctus on Friday - 10/03/2023

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LM) C; Target price of £0.55 per share: One step closer to FID – Production ramp-up quicker than expected – Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project. The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore g