Hybridan Small Cap Feast - 02 Oct 23

2nd October 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

Hybridan Small Cap Feast - 29 Sep 23

29th September 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 ob

Hybridan Small Cap Feast 15-09-2023

Dish of the day 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. Admission delayed. Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids co

Hybridan Small Cap Feast 03/08/2023

3rd August 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 21 07 2023

*A corporate client of Hybridan LLP ** Arranged by most recent first *** Alphabetically arranged Dish of the day Joiners: No joiners today. Leavers: Star Phoenix Group (STA.L) has left AIM. What’s cooking in the IPO kitchen?** 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 Segm

Hybridan Research: 21/07/2023: One Heritage Group PLC: Increase in revenue expected for development management business

One Heritage Group (OHG) today provided an update on its development management agreement (RNS dated 05 April 2022) with its client, One Heritage Great Ducie Street Limited. One Heritage Great Ducie Street Limited is a development company and subsidiary of One Heritage Property Development Limited (the Developer), OHG’s Hong Kong based majority shareholder. The development management agreement relates to a residential development on land located between Great Ducie Street and Mirable Street, Man

Hybridan Small Cap Feast - 05 Jul 23

5th July 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 Research: 05/07/2023: One Heritage Group plc: Development project update, management team expansion and Propertymark accreditation

One Heritage Group plc yesterday announced a trading and corporate update. We have published research on this which is attached and a snapshot of the research is below. One Heritage Group (OHG) yesterday provided an update on the progress of projects, expansion of its senior management and receipt of the Arla Propertymark accreditation. Projects: OHG has exchanged contracts for the bulk purchase of twenty apartments at Lincoln House, Bolton. The sales are contracted to complete by 20 August 2

Hybridan Research: 14/06/2023: One Heritage Group PLC: Practical completion of Oscar House in Manchester

One Heritage Group (OHG) announced this week the practical completion of Oscar House in Manchester. The Group previously reported a Gross Development Value (GDV) of £6.2m, which included an agreement with a buyer underwriting the purchase price of £6.1m for all the 27 apartments and the car parking spaces. Unfortunately, this buyer has failed to perform on the purchase of 22 apartments. The Group is now re-marketing these units and following a recent re-valuation of the completed building, the G

Hybridan Small Cap Feast - 12 Jun 23

12th June 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 objecti

Hybridan Research: 18/05/2023: One Heritage Group plc: Practical completion of Bank Street Project in Sheffield

One Heritage Group (OHG) today announced the practical completion of Liberty House, often referred to as Bank Street, Sheffield, a residential development project consisting of 23 high-end apartments. One Heritage Construction (100% owned subsidiary) acted as the principal contractor for this complex redevelopment of a Grade II listed building in the heart of the Cathedral Quarter. Sales are progressing and 17 units have exchanged contracts with a further 2 reservations and 4 remain unsold. Th

Hybridan Small Cap Feast - 18 May 23

18th May 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 - 28 Mar 23

28 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 Research: 28/03/2023: One Heritage Group plc: Continued execution to complete three development projects in 1H 2023

One Heritage Group (OHG) today announced its interim results for the six months ended 31 December 2022 (H1 FY23). Revenue was £5.8m, up 3,760% year-on-year as OHG continued with project development in its third year of operation. The gross loss was £0.28m, primarily due to an impairment of £1.1m (announced in RNS on 26 January 2023). Net debt at the period end was £17.7m (30 June 2022: £14.9m), reflecting an increase in working capital. The loan facility from the major shareholder One Heritage H

Hybridan Research: 02/03/2023: One Heritage Group plc: First completion of a development management project – County House in Oldham

One Heritage Group plc yesterday announced the practical completion of County House in Oldham. We have published research on this which is attached and a snapshot of the research is below. One Heritage Group (OHG) yesterday announced the practical completion of County House in Oldham, its first completion of a development management project. Acting as the Development Manager, One Heritage has overseen the transformation of the former Oldham County Court. The scheme marks the completion of OHG’s

Strong H1'23 results; forecasts upgraded

Inflection point - fleet growth coming

H1 23: focusing on capital generation

Promising results for M&G in H1 23. The new CEO, Andrea Rossi, continues to execute the company’s new strategy, and we have confidence that he is positioning M&G to surpass its financial targets for the 2022-24 plan. The H1 23 operating capital generation results significantly outperformed expectations, exceeding the consensus by more than 50%. This substantial capital accumulation is poised to deliver strong returns to shareholders, rewarding them for their patience during this transitional per

LIBERUM: Alpha Group International: Underlying strength

Gore Street Energy Storage + (GSF, House Stock, 84p) - Steady NAV growth

Taking the Upper Brand: Brands Sector Overview

The earliest dated brand has long been contested; the majority point to Kongō Gumi, a family run construction company that specialised in Buddhist temples in Japan; its documented record of ownership goes back to 578 AD. Like Kongō Gumi, several different brands have withstood the test of time, albeit without then same degree of longevity. The term brand originates from the 1500s and means "to burn" in Ancient Norse and was initially used to mark cattle for ownership. This practice can be consid

Morning Note – 26 September 2023

Avation - Full year results – substantial progress in repositioning the fleet in the year

Avation, a lessor of 36 commercial aircraft, has today released full year results for the year to 30 June 2023, reflecting a period in which substantial progress was made in transitioning its last remaining off-lease aircraft and paying down existing borrowings. Importantly, the Group is now positioned strategically for growth as a green low CO2 lessor of modern aircraft, where it also owns one of the world's largest order books comprising 28 purchase rights for new low CO2 ATR 72-600s. With a n

Morning Note – 3 October 2023

LIBERUM: Forward Partners: Resilient H1, focus on cash

LifeSafe Holdings - Good momentum, industrial distribution deal breaks new ground

LIFS' H1 results this morning reflect further strong revenue growth, with sales up 123% YoY, while the company has also inked its first major distribution deal for its industrial fluid product, a significant milestone. LIFS is the developer of innovative and patented fire solutions which are top sellers on Amazon both in the UK and in the very sizeable US market, where they were successfully launched early last year. While growing strongly, the company has also succeeded in lifting its gross mar

Morning Note – 18 September 2023

LSL Property Services (LSL LN) - Interims confirm progress

In the first half of 2023, LSL Property Services made major steps to create a high margin, high cash conversion, platform that will “perform more consistently through market cycles”. Interims restate observations made in its August update.

DSW Capital+ (DSW, House Stock at 56p) - Incremental Tax Advisory acquisition

Morning Note – 29 September 2023