SHORE CAPITAL - XP Factory+ (XPF, House Stock at 16p)

SHORE CAPITAL - XP Factory+ (XPF) - House Stock at 18p - Oxford Street opens and openings on track for FY22F

SHORE CAPITAL - XP Factory (XPF) - House Stock at 12p - Excellent progress to date in 2022

Hybridan Small Cap Feast 09/09/22

Dish of the day Joiners: No joiners today. Leavers: ScotGems Plc has left the Main Market. What’s cooking in the IPO kitchen?** Critical Metals plc, a company established to acquire mining opportunities in the critical and strategic metals sector, is to be re-admitted onto the Main Market under the ticker “CRTM”, following the proposed acquisition of a 57% interest in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project located in the Democratic Rep

SHORE CAPITAL - XP Factory+ (XPF, House Stock at 12p) Acquisition/positive update

SHORE CAPITAL - XP Factory (XPF) - House Stock at 20p

Hybridan Small Cap Feast 29/06/22

Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or request an overdraft from their

SHORE CAPITAL - XP Factory+ (XPF) - House Stock at 20p

SHORE CAPITAL - XP Factory+ (XPF) - House stock at 24p - New site openings continue to be on track

Hybridan Small Cap Feast 22/04/22

Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen? Lift Global Ventures plc to join AQSE Growth Market. The Company's investment strategy is to operate as an enterprise company seeking acquisition or investment opportunities within the financial media and technology industries. Within these broad industries, areas of focus may include: Financial news websites and other forms of “new media”, Investment research providers, Financial PR, IR, design and marketin

SHORE CAPITAL - XP Factory (XPF) - House stock at 29.5p

Small Cap Feast 26/01/2022

Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Strip Tinning Holdings, an established supplier of specialist connectors to the automotive sector, intends to join AIM. Strip Tinning manufactures specialist flexible electrical connectors related primarily to heating and antennae systems embedded within automotive glazing and to the connection of the cells within electric vehicle (EV) battery packs, increasingly using flexible and lightweight printed circui

SHORE CAPITASL - ESCAPE HUNT+ (ESC) - House Stock 30.0p

Escape Hunt (ESC LN) - H1 2021: Reaching scale

Over the last twelve months, Escape Hunt has dramatically increased scale and proven the economics of its business, allowing it to target positive cash generation. All of the company’s owner-operated sites traded profitably post period end.

Escape Hunt (ESC LN) - Rebound in demand

Consumer demand for Escape Hunt’s experiential leisure sites has rebounded strongly since reopening. At the same time, the company continues to gain scale with acquisitions outperforming and site rollouts on track to exceed targets. Such solid trading and operational progress improve the company’s long-term profit outlook.

Top Picks for 2023 - 2022 review and outlook for 2023

On 10 January last year, we set out our ten top stock picks for 2022, in what turned out to be a very poor twelve months for global equities, due to war, accelerating inflation, political instability and recession fears. Between 7 January 2022 and 31 December 2022, the AIM All-Share Index declined 30.0%, whilst the average performance of our ten top picks was -24.7%, a modest relative outperformance. In this note we discuss the performance of our 2022 top picks, equities trends in 2022, and our

Morning Note – 26 January 2023

Good end to FY22, EBITDA target upgraded

Entain reported Q4/FY22 growth in line with estimates. Importantly, the online segment returned to growth, after four consecutive quarters of decline. The firm now expects FY22 EBITDA to come in at £985–995m (5%/3% ahead of consensus/AV, respectively). BetMGM continued to outperform expectations and is on track for EBITDA break-even in H2 23. We will be upgrading our estimates by low-to-mid single-digits to factor in the FY22 EBITDA upgrade as well as the stronger trajectory of BetMGM.

Hybridan Small Cap Feast - 23 Jan 23

23 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 - 19 Jan 23

19 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

SHORE CAPITAL - ScS Group+ (ScS) - House Stock, 222p - Highly reassuring trading update

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

Spring is finally coming

The market reacted positively to easyJet’s Q1 trading update as the meaningful pricing tailwind and the continued restoration of load factors allowed for consensus-beating results and guidance. The buoyancy was further fuelled by the low-cost rivals’ promising stance on summer activities. We expect an upgrade in the consensus and to our valuation.

SHORE CAPITAL - Motorpoint Group+ (MOTR) - House Stock at 145p

Terminating coverage

BOTB - Beats forecasts, £6.275m return of capital announced

BOTB prelims were slightly ahead of our forecasts, which we recently raised post the May trading statement. Trading continues to normalise despite the uncertain consumer outlook, driven by constant fine-tuning to changing market conditions. BOTB also declared a 6p/share (£0.565k) final dividend and a £6.275m return of capital via tender offer, equivalent to 66.7p/share; and 72.7p and £6.84m combined. We have increased our EPS (Dil. Adj.) forecasts by 23% to 53.9p from 43.9p for FY23E, and by 21%

Tintra plc Initiation

Tintra plc (TNT.L) has an ambitious strategy to build new global banking infrastructure. This will be distinct from existing banks and fintechs, as it is specifically designed to finance growth in cross-border trade for emerging economies. The group identified issues in ways that existing banks serve these markets, which often put their customers at a disadvantage vs developed economy equivalents. Tintra believes that only an entirely new global network of regulated financial services providers

BOTB - Board strengthening and new forecasts

The group has announced a broadening and strengthening of the board through two new appointments. We introduce an additional two years of forecast and raise our target price to £31.

Cenkos: One Media iP Group Plc -- Trading Update

One Media iP Group has provided a positive trading update for the year ended 31 October 2022 (FY22E), with the core business of music exploitation performing in line with expectations. The company expects to deliver revenues of £5.1m (+16% YoY), slightly ahead of our previous forecast, and an Adj EBITDA of £1.8m. Having previously explored external funding options, One Media iP now plans to retain its anti-piracy subsidiary, TCAT Ltd and fund the next stage of growth from internal resources in o

Morning Note – 17 January 2023