Hybridan Small Cap Feast - 29 July 2024

29th July 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: Nightcap (NIGHT.L) has left AIM R&Q Insurance Holdings (RQIH.L) has left AIM What’s baking in the oven? ** Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe m

Allenby Capital - Aeorema Communications plc - Interims

The shares retreated 23% in response to an expected dip in full year revenue, but the medium-term outlook remains robust. Client decisions to move a number of planned events pushed back c. £2m of projected revenue into H2/FY25. We believe that the investment case remains attractive. AEO is on track to deliver near record H2 revenue and expects to report at least £19m of sales, £0.4m of PTP for FY24. It has completed the first three quarters of FY24, but typically generates c. 50% of annual sales

Hybridan Small Cap Feast - 25 Mar 24

25th March 2024 @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

Allenby Capital - Aeorema Communications plc - Finals

A 66% y-o-y increase in FY23 (June) revenue is built on recent strategic investment in capacity and profile in key global markets. Aeorema Communications plc (AEO.L) now has strong back-end operations, accounts and strategic growth teams, and initial critical mass in the US. This provides a strong platform for growth, a key component of its overarching strategy for future success. Momentum is building on the back of consistently high retention rates and demand from new clients. The full impact o

Hybridan Small Cap Feast 14/11/2023

Dish of the day Joiners: No joiners today. Leavers: Ergomed has left AIM. What’s cooking in the IPO kitchen?** 9 November: Chapel Down Group ITF: England's leading and largest wine producer with an award-winning range of sparkling and still wines, under the Chapel Down brand. The Company owns, leases and sources from 1,023 acres of vineyards in South East England announces its Admission to AIM after its transfer from the Aquis Apex market. The Company will not be raising new capital or providing

Small Cap Feast 25 07 2023

Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in

Hybridan Small Cap Feast - 29 Mar 23

29 March 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 objectiv

Hybridan Small Cap Feast 14-11-2022

Dish of the day Joiners: Looking Glass Labs (NFTX) joins the Access Segment of the AQSE Growth Market. The company is engaged in digital agency specialising in immersive XR metaverse design, non fungible token architecture and virtual asset royalty streams. Looking Glass Labs is currently listed on the NEO Exchange (Canada). Market Cap £18.8m. EDX Medical Group joins the Access Segment of AQSE Growth Market. (Formerly TECC Capital plc) EDX operates a molecular biology and diagnostics laboratory

Allenby Capital TMT Update

Aeorema Communications Update

Two consecutive sets of strong half-year figures confirm that Aeorema Communications plc (AEO.L) has emerged from the pandemic in very strong shape, operationally and financially. FY22 was particularly impressive. August’s trading update signalled a record year to end June, during which the group more than doubled revenue to £12.2m (up 139%) and generated over £0.8m PBT (FY21: £0.2m loss). A genuinely flexible and resilient operating model helped it to capitalise on demand for virtual experience

Hybridan Small Cap Feast 18/08/22

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports

Small Cap Feast

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 t

Strong 2020 interims & acquisition but outlook uncertain

Aeorema delivered an impressive set of interim results for the 6m period ended 31 December 2019. Revenues were 46% ahead of the previous year and the balance sheet ended the period with a healthy net cash position of £1.39m. The results were followed by a small but strategic acquisition. However, COVID-19 has led to events being postponed and hence a detrimental impact on forecast revenues. The Company expects a loss before tax for FY20 of between £150k and £250k against our prior forecast of a

Morning Note – 7 October 2024

PANMURE LIBERUM: UK Asset & Wealth Management: Farewell to Summer

IXICO - AI powered neuroimaging platform

IXICO is an AI-driven medical imaging analytics company focused on supporting biopharmaceutical companies develop their neurological drug candidates. The key aim of IXICO’s platform is to support pharma in their efforts to develop targeted drugs (beyond the classical markers) and to develop partnerships with various stakeholders to enable post-marketing patient access, payor savings and large data monitoring. The company’s expanded focus is on Alzheimer's, Parkinson's and Huntington's diseases a

Morning Note – 9 October 2024

Morning Note – 30 September 2024

Hybridan Small Cap Feast - 7 October 2024

* A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: None What’s baking in the oven? ITF announced:*** Potential** Initial Public Offerings: 30th September 2024: Applied Nutrition, the sports nutrition, health

SP Angel Morning View: Iron ore limit up as China stimulates further over the weekend, boosting sentiment

Hardman & Co Insight: Survival of the UK life sciences sector

For two years running, the Hardman & Co Healthcare index has declined, underperforming both the FTSE 100 and the FTSE All-Share indices. This is quite unusual for healthcare stocks. Apart from the general economic influences, which have made institutions more risk-averse, there was a common knowledge that several companies were in need of additional working capital; so, share prices were marked down in anticipation of equity raises. However, the small- and mid-cap life sciences sector has alway

Tickled pink with record Q1

City of London Investment Group (CLIG): Good fund performance and solid results

City of London has announced its full-year results for 2024. As stated in the trading statement, FUM was $10.24bn, a 9% increase over the year. While market performance offset net outflows, there was a significant improvement in the latter in the second half, which bodes well going forward. Underlying profit before tax of $27.2m was a 0.5% increase over 2023’s $27.0m. A higher effective tax rate meant that underlying EPS declined 3% from 43.4¢ to 42.2¢. As previously announced, the final dividen

Hybridan Small Cap Feast - 4 October 2024

Dish of the day Admissions: None Delistings: None What’s baking in the oven? ITF announced:*** Potential** Initial Public Offerings: 30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand announced that it is considering an £500m IPO onto the LSE Main Market. Across the four ranges, the Group sells approximately 100 different products, with flavour and format combinations across those products resulting in over 500 stock keeping units. July 2024 YE numbers report

Allenby Capital TMT Update - 23.09.24 - TRAK.L, CODE.L, KOO.L

Please find below our weekly update covering themes that we feel that are of interest to investors and participants in the small and mid-cap TMT sector as well as commentary on recent newsflow.

Hardman & Co Insight: 2023 was an annus horribilis for Quoted UK Infrastructure and Renewable Energy

The focus of Hardman & Co Research is on the nine quoted Infrastructure Investment Companies (IICs) and on the 22 Renewable Energy Infrastructure Funds (REIFs): the stocks analysed are all members of the Association of Investment Companies (AIC). We are updating our publication of January 2023, assessing both the lacklustre share price performances during 2023 and the key issues, including interest rates, inflation and power prices. As a 31-strong group, its combined market capitalisation is no

City of London Investment Group (CLIG LN) - Momentum swing underway

CLIG’s full year results to June 2024 are inline with our forecasts, set in February 2024. The annual report and accounts provides evidence of “compelling reasons for institutional asset allocators to choose an active manager.” CLIG’s outperformance of its benchmarks should drive net inflows.

Lack of newsflow on factory funding impacts sentiment

Operating losses increasing faster than expected H1 operating losses were EUR20m vs -EUR15m expected. RandD expenses were up 43% with headcount expanding. Sales and Marketing expenses were up 87% with Carbios now in a position to address all key geographies. Finally, GandA was up 46% due the rollout of a new enterprise resource planning (ERP) software. Net income was -EUR18m and the gross cash position at the end of H1 was EUR144m, down from EUR192m the year before. Longlaville plant construct