Small Cap Wrap – Anpario, 88 Energy, Malvern International and more…

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Small Cap Feast

Our daily digest of news from UK listed Small and Mid caps

08 Jan 2021

@HybridanLLP

*A corporate client of Hybridan LLP

 

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What’s cooking in the IPO kitchen?

Upon Admission to AIM, Nightcap will acquire The London Cocktail Club Limited (the “London Cocktail Club”), which is an award winning independent operator of ten individually themed cocktail bars in nine London locations and one location in Bristol. Offer TBC Due mid Jan.

HSS Hire Group, HSS.L transfer from Main to Aim. Mkt Cap c. £70m. Recently raised £52.6m. Leading supplier of tool and equipment for hire in the United Kingdom and Ireland and has provided equipment hire services in the United Kingdom for more than 60 years, primarily focusing on the B2B market.  Due 14 Jan.

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 Main Market of the London Stock Exchange.  Due by Early Feb.

 

Banquet Buffet

Premier Miton 155.5p  £245.6m (LON:PMI)

Premier Miton Group PLC updated on its unaudited statement of Assets under Management  for the first quarter of its current financial year.

 

· Closing AuM of £12.0 billion at 31 December 2020 (30 September 2020: £10.6 billion)

· Net inflows of £166   million during the Quarter

 

During the Quarter, the final operational stages of the integration of the former Premier and Miton businesses were completed. This allows the Group to move forward with a single operating platform across the entire fund range.

 

Rambler Metals and Mining 0.34p  £27.66m (LON:RMM)

The copper and gold producer, explorer, and developer, advises that effective immediately, Mr Eason Chen has been appointed Chief Financial Officer for the Company and all its subsidiaries on a full-time basis.  Mr Chen has served on the board of Rambler for the past eight years as a non-executive director and with his appointment as CFO, he will transition to an executive director role.

The Compensation, Governance and Nomination Committee has embarked on a search for new independent directors to fill the posts recently vacated by Glenn Poulter and Eason Chen.  Announcements on these appointments will be made in due course.

Mr Sanjay Swarup has resigned as CFO to pursue other interests and will remain available to the Company for at least the next four months to assist with the transition of the function.

 

Surgical Innovations 1.8p  £16.8m (LON:SUN)

The designer, manufacturer and distributor of innovative medical technology for minimally invasive surgery, announces that Distalmotion SA, a Swiss-based medical device company providing robotic surgery systems on a transparent and fair per-procedure cost (Distalmotion), has received European CE Mark for its ‘Dexter’ surgical robot. Manufactured in Switzerland, Dexter combines the affordability of laparoscopy with the benefits of robotic surgery to bring simplicity and versatility in minimally invasive surgical care. 

Elemental Healthcare Limited, a wholly owned SI subsidiary, has exclusive UK distribution rights for the Dexter Robot. The European CE mark remains valid in the UK post Brexit.

 

Baron Oil 0.0925p  £4.1m (LON:BOIL)

The oil and gas exploration company with opportunities in SE Asia, Latin America and the UK,  provided  an update on the Chuditch Production Sharing Contract

 

· Proposal presented to ANPM  (Autoridade Nacional do Petróleo e Minerai ) to allow project to progress

  Includes request for minimum 12-month extension

· Significant upgrade in estimated resources

  Gross Mean GIIP: 4,703 BCF

  Gross Mean Prospective Resources: 3,527 BCF

  Mean Prospective Resources net to Baron interest: 882 BCF 

 

ITM Power 587p  £3.2bnm (LON:ITM)

The Fuel Cells and Hydrogen 2 Joint Undertaking (FCH2-JU), a public private partnership of the European Commission, has awarded the consortium behind the OYSTER project, consisting of ITM Power, Ørsted, Siemens Gamesa Renewable Energy, and Element Energy EUR 5 million to investigate the feasibility and potential of combining an offshore wind turbine directly with an electrolyser and transporting renewable hydrogen to shore. The consortium will develop and test a megawatt-scale fully marinised electrolyser in a shoreside pilot trial. The project will be coordinated by Element Energy.

 

Tremor International 433p  £577.1m (LON:TRMR)

The specialist in video advertising technologies, provides an update on trading for the year ended 31 December 2020. The Company’s record revenue and profit growth in the second half of 2020 continued through to the year-end, with trading in the month of December at a record high and materially exceeding the Company’s expectations. Therefore, Tremor expects trading for the year ended 31 December 2020 to be ahead of the ranges outlined in its most recent trading statement on 30 November. These were revenues, net revenue and Adjusted EBITDA in the ranges of $390-400 million, $171-175 million and $50-52 million respectively.

Tremor now expects to report revenues of $404-408 million, net revenues of $179-181 million and Adjusted EBITDA of $58-60 million for the year ended 31 December 2020. In addition, the Company had net cash at 31 December 2020 of c. $96 million (30 June 2020: $ 78 million ). This trading performance demonstrates a 72% growth in revenues for Q4 2020 compared to Q4 2019 and 50% growth in the second half of 2020, compared to H2 2019.

 

Malvern International 0.175p  £2.1m (LON:MLVN)

The global learning and skills development partner, announces that it has entered into a new short term loan agreement for £350,000 with Boost & Co. Ltd, and that it has secured a further £30,000 via a unsecured loan note with a Director.

The purpose of this new borrowing is to provide bridging finance to ensure the Company has sufficient working capital pending the payment of a significant trade debtor amounting to in excess of £900,000 which is expected to be paid in quarter one 2021.

 

88 Energy 0.565p  £60.2m (LON:88E)

88 Energy, via its wholly owned subsidiary Regenerate Alaska Inc, has been named high bidder on Tract 29 in the 2021 Coastal Plain Lease Sale. Tract 29 is comprised of 23,446 acres and is adjacent to 88 Energy’s existing Yukon Leases as well as the Point Thomson gas condensate field, which is currently in production. The acquisition of these leases represents a logical step in the Company’s aggregation strategy for oil resources in this part of the North Slope, where existing infrastructure provides a potential pathway to commercialisation.

 

Immedia 32p  £8.2m (LON:IME)

 The supplier of multi-media content and digital solutions for leading brands and global businesses, announces that it has conditionally raised gross proceeds for £3.0 million at 25p with 1 for 1 warrants. In the circular to Shareholders published on 20 August 2020 the Company set out its rationale for raising additional working capital to secure the business in the context of the CVID-19 pandemic, which, as announced n 6 April and 18 June 2020, materially affected both the Group’s retail and project customers. 

The uncertainty of trading conditions caused by the pandemic remains.  However, since the pandemic began there has been a significant reduction in the operating costs of the business and IME continue t maintain a prudent trading outlook for 2021, and Q1 in particular. 

 

Anpario 505p  £117m (LON:ANP)

Anpario, the independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity announced the appointment of Matthew Robinson as a Non-Executive Director of the Company with effect from 11 January 2021.

Matthew Robinson has spent much of his career working with and advising growth companies and is currently Non-Executive Chairman of AIM listed Goldplat PLC. Matthew started his career as a Chartered Accountant and was previously a Corporate Finance Director at finnCap and Panmure Gordon.

 

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