Small Cap Feast
Our daily digest of news from UK listed Small and Mid caps
*A corporate client of Hybridan LLP
Dishes of the day
BrandShield Systems (LON:BRSD), the provider of cybersecurity solutions from brand protection to online threat hunting, announced its admission to trading on AIM following the reverse takeover of Two Shields Investments plc. Mkt cap £28m. £33.3m raised at 20p. BrandShield grew annual recurring revenue from $0.57 million at 31 December 2017 to $1.92 million at 31 December 2019, a CAGR of 83%.
Schroders British Opportunities Trust (LON:SBO) has joined the Official List . The Company believes that there is a once in a generation opportunity to invest equity capital into high quality, high growth UK Companies in the c. £50 million to £2 billion equity value range with sustainable business models at attractive valuations.
Off the menu
Henderson Alternative Strategies Trust has left the official List.
What’s cooking in the IPO kitchen?
Intuitive Investments Group, a closed-end investment company focussed on the life sciences sector, announces its intention to seek admission the AIM market of the London Stock Exchange plc, and a conditional placing , at a price of 20 pence per share, to raise gross proceeds of £7.5 million . · The net proceeds of the Placing will be used by the Company:- to invest in fast growing and / or high potential life sciences businesses, based predominantly in the UK, wider Europe and the US, chosen from an identified pipeline of investment opportunities – investments will be focused on diagnostics and healthcare, medical devices, tools and technologies and bio-therapeutics and pharmaceuticals · The market capitalisation of the Company is expected to be circa £7.8 million on Admission. Due 14 Dec.
Schroder BSC Social Impact Trust plc targeting a £100m raise. The Company’s investment objective is to be the first London listed investment company to deliver measurable positive social impact as well as long term capital growth and income, through investing in a diversified portfolio of private market impact funds, co-investments alongside impact investors and direct investments in order to gain exposure to private market Social Impact Investments. Due 22 Dec. Official List (premium)
Abingdon Health to list on AIM. Abingdon Health is a lateral flow diagnostics company providing contract service solutions to a global client base in the healthcare sector and other industries . The Company has developed and is manufacturing the AbC-19TM Rapid Test, an antibody test for Covid-19 indicating whether a person is generating IgG antibodies to the spike protein of the SARS-CoV-2 virus. The Company is also working with three customers to transfer their Covid-19 antigen tests to manufacture, and is manufacturing a component of a rapid PCR (polymerase chain reaction) test. Offer TBC. Due early Dec.
Auctus Growth Plc (LON:AUCT) – Reverse acquisition of HeiQ Materials AG. £20m placing for the enlarged group plus further secondary placing of £40m for selling shareholders. HeiQ creates technologies that add functionality, comfort, hygiene and sustainability to existing apparel, home textiles, technical textiles, medical textiles and devices and functional consumer products. It is anticipated that the funds raised will be used to strengthen the Enlarged Group’s regulatory portfolio, enhance its direct to consumer marketing and build brand equity, expand its geographical footprint, expand its sales channels, upscale the product HeiQ GrapheneX and build a medical business unit in light of the robust growth that HeiQ Viroblock has experienced due to the COVID-19 global pandemic. Anticipated mkt cap £141 million. Due 7 Dec. Main Mkt (Standard)
Helium One Global to join AIM. The Company, through its Tanzanian subsidiaries, holds a 100% interest in 18 licences (the Priority Licences) covering an area of 4,512km2 with an Unrisked Prospective Helium Resource (2U) of 138Bcf (SRK 2019). The Company has spent US$8.25m on exploration, assessment and related activity to date and is now drill ready. Capital to be raised on Admission: £6million. Anticipated market capitalisation on Admission £14.1 million (at the issue price of 2.84p). Due 4 Dec
Conduit Holdings is a newly established reinsurance underwriting business focusing on producing strong risk adjusted returns from a diversified and focused business plan. The business has been formed to capitalise on what the Company’s founders, Neil Eckert and Trevor Carvey believe to be an exceptional market opportunity. Raising $1.1bn. Due 4 December
Downing Renewables & Infrastructure Trust intends to raise up to £200 million to target the acquisition of a diversified portfolio of renewable energy and other infrastructure assets and list on the Official List of the Financial Conduct Authority and Main Market of the London Stock Exchange . Due by mid December
Ecofin U.S. Renewables Infrastructure Trust. Initial public offering of up to us$250 million to invest in a diversified portfolio of mixed US renewable energy assets with an attractive long-term income stream. Main market premium. Due 14 Dec
VH Global Sustainable Energy Opportunities plc, a closed-ended investment company focused on making sustainable energy infrastructure investments, today announces intends to launch an initial public offering of shares on the Official List (Premium) of the Financial Conduct Authority and Main Market of the London Stock Exchange. Due by Early Feb 2021
Tirupati Graphite, the fully-integrated, cash generative, specialist graphite and graphene producer with operations in Madagascar and India, announced its potential intention to undertake an initial public offering on the LSE (standard listing). Raising £6m. Mkt cap c.£33.6m. Due 11 December
Bytes Technology Group one of the UK’s leading software, security and cloud services specialists, announces that the Company intends to publish a Registration Document and is considering proceeding with an initial public offering (Main Mkt Prem). FY20 gross profit of £79.2m (+24.5% against FY19) and adjusted operating profit of £31.7m (+53.9% against FY19). Highly cash generative with FY20 cash conversion of 125.9% (FY19 cash conversion 139.7%). Bytes due on or around 17 December 2020.
Mailbox REIT PLC , a newly formed single asset company which owns the Mailbox , a large prime office-led mixed use property in Birmingham which has been independently valued at £179m, announced its intention to raise up to £62.5m. MailBox REIT will apply for the Ordinary Shares be admitted to trading on the IPSX Prime segment of International Property Securities Exchange (IPSX ). Due 14 December.
Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List. Timing tbc
Kibo Energy PLC (LON:KIBO), the multi-asset Africa focused energy Company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times. Targeted for Q4 2020.
If you would like to unsubscribe, please email [email protected] with “unsubscribe me”.
0203 764 2344
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 objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.
Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of section B of annex I to Directive 2014/65/EU (“MIFID II Directive”); or (ii) investment research as defined in article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook).
This document should not be relied upon as being an independent or impartial view of the subject matter. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.
Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.