18 Sep 2020
*A corporate client of Hybridan LLP
Dish of the day
No Joiners Today
Off the menu
No Leavers Today
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 the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the homeless. Due Mid October
Sativa Wellness Group—(Canadian Securities Exchange: STIL) renamed from Stillcanna Inc following the conditional acquisition of Sativa Group (AQSE:SATI) to list on the AQUIS Exchange. A fully integrated European seed to consumer CBD group with the pricing, products, and stability to meet the CBD market demand in the medium term. With world-class extraction and formulation experts, an agricultural team that has over 20 years’ experience farming hemp, along with laboratory testing capabilities, the group has established itself globally as a trusted source of high-grade, premium wholesale CBD brands and products.
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
Kibo Energy PLC, 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 . Targeted for Q4 2020. 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.
U&I Group 59.9p £75.1m (LON:UAI)
The specialist regeneration developer and investor, announces that Yoo Capital Investment Management has acquired a majority ownership interest in Shepherd’s Bush Market for its Yoo Capital Fund II, L.P. (YCFII), forming a joint venture partnership with U+I.
Yoo Capital is a privately held real estate investment firm, with over £2 billion assets under management. The new joint venture structure will bring forward the regeneration of Shepherd’s Bush Market in West London and the adjoining land for mixed-use development, with Yoo Capital owning 75.5% and U+I 24.5% of the new partnership. The scheme will realise future development management fees for U+I, as well as a potential share of development profits in the next five years. The transaction also involved a reduction in U+I joint venture debt secured against the project, resulting in the Company’s look through gearing reducing by circa 8.5% (from 68% to circa 59%).
The Company announced that as at the close of business on 31 August 2020, the unaudited book value per Ordinary Share was 29.71 US Dollar cents, equivalent to 22.19 Pounds Sterling pence. APQ Global is a global emerging markets income company with interests across Asia, Latin America, Eastern Europe, the Middle East and Africa. The Company’s objective is to steadily grow earnings to deliver attractive returns and capital growth to shareholders.
The provider of the mpro5 solution is pleased to announce its unaudited interim results for the six months ended 30 June 2020.
· Turnover increase of 40% to £1.77m (H1 2019: £1.27m) · Sales of £225k and COGS of £127k recognised due to IFRS 15
· Profit before tax increased by 154% to £257k (H1 2019: £101k) · EBITDA increase of 72% to £470k (H1 2019: £274k) · Strong improvement in net cash position
· Strategic focus on transportation and supermarkets / convenience stores succeeding
· New long term contract with large neighbourhood retailer adding to revenue visibility in H2 and beyond
· Increasing quality of retained client book. · Partnerships improving routes to market and scalability shortening new business sales cycle. · Growing traction from investments in innovation
Polarean Imaging 48p £77.68m (LON:POLX)
The medical-imaging technology company, with a proprietary investigational drug-device combination diagnostic for magnetic resonance imaging (MRI), announces that it has completed the installation of its latest research unit order for a 9820 Xenon Polariser system at the University of Kansas Medical Center (“KU Medical Center”) http:// www.kumc.edu/.
KU Medical Center is a major research and teaching hospital and this polariser will form the cornerstone of a new hyperpolarised 129Xe imaging research programme. Following this installation, the total number of the Company’s polarisers installed is 23.
SpaceandPeople 5.5p £1.1m (LON:SAL)
The retail, promotional and brand experience specialist which facilitates the sale of space in high footfall venues, announces that as part of its ongoing succession planning process, Chief Executive Officer, Matthew Bending, will today retire from the Board and step down from his role as Chief Executive Officer.
Having led SpaceandPeople since co-founding it in 2000, Matthew has decided to concentrate on other opportunities. The Board has appointed Nancy Cullen to succeed Matthew Bending as Chief Executive Officer of the Group. Nancy Cullen, who co-founded SpaceandPeople with Matthew Bending, was previously Chief Operating Officer.
Thruvision 27.8p £40.44m (LON:THRU)
The specialist provider of people-screening technology to the international security market, announced a strategically important contract award by the US Government’s Customs and Border Protection (CBP) for further units and associated support services totalling $4.9 million, of which $4.3 million is expected to be delivered in FY21. This latest award, in line with the Company’s expectations, is a follow-on order by CBP to that of $3.0 million made in 2019.
Mercia Asset Management 19p £83.6m (LON:MERC)
The proactive, regionally focused, specialist asset manager, provided an update on the Life Sciences investments within both its balance sheet and managed funds’ portfolios. Life Sciences investments accounted for seven out of the top 20 direct investments as at 31 March 2020 and their cumulative fair value of £28.6million represented 32.7% of the total portfolio by value.
Oxford Genetics Ltd (“OXGENE”) – Third consecutive year of 100%+ revenue growth
Medherant Ltd (“Medherant”) – Novel transdermal drug delivery In May 2020 the company announced that it had signed an agreement to develop and commercialise multiple products using the TEPI Patch®technology for the global commercial-stage pharmaceutical company Cycle Pharmaceuticals Ltd
Locate Bio Ltd (“Locate”) – Appointment of CEO and funding
MIP Diagnostics Ltd (“MIP”) – £5.1million syndicated funding round in July 2020 to accelerate global expansion.
The Native Antigen Company Ltd (“NAC”) – Evidence of Mercia’s model in action
· Sale announced in July 2020, achieving an 8.4x return on original direct investment cost
Mercia also presented a selection of promising businesses within Mercia’s third-party managed funds, which represent potential future candidates for Mercia’s direct investment portfolio.
SEC Newgate 57.5p £13.94m (LON:SECG)
The international communications, advocacy and research group, is pleased to announce the appointment of James Hill as Newgate Communications Managing Partner in Greater China, based in Hong Kong, effective from 22 September 2020. James will oversee the firm’s expansion in Greater China and work with colleagues in the Asia-Pacific region to expand the firm’s pan-regional client base.
Prior to joining Newgate, James was General Manager of Sandpiper Communications (formerly MHP Communications Asia) in Hong Kong and, before that, Partner of Finsbury Asia. Before moving to Hong Kong, James held agency and in-house roles in London, including Head of Financial Public Relations at a FTSE 100 telecommunications company.
Fiorenzo Tagliabue, CEO of SEC Newgate, commented: “I welcome James on board and am confident the Chinese operations and the Group at large will gain significant benefit from his 20-year career, deep understanding of the Chinese markets and extensive network of relations within Asian business communities”.
Braveheart announced that Pharm 2 Farm Limited (“P2F”) has placed an order for an automated face mask production line which is expected to be delivered in November 2020 and commissioned by the end of December 2020.
The face mask production line, which is manufactured in Europe, has the capacity to produce up to five million standard or anti-viral face masks per month.
Conventional surgical type masks typically comprise of three layers, with the inner layer acting as a physical barrier to viruses and bacteria. However, they are only recommended for up to two hours of continual use as this layer can become moist and fail, thereby allowing the virus to penetrate though. P2F has developed a second defensive layer that incorporates its own nanotechnology, which is engineered to kill viruses and bacteria. Combining this new active layer with the physical barrier layer, to produce four layer (ply) masks, is expected to improve user safety over a prolonged use. This new material is currently undergoing testing, specifically, with respect to the time taken to kill viruses, including COVID-19. These tests are, being undertaken at the University of Nottingham and results are expected by the beginning of October. Following a satisfactory outcome of the tests undertaken at the University of Nottingham, it is envisaged that manufacture of the anti-viral face masks will commence in the first quarter of 2021. In the event that these tests do not provide a satisfactory outcome, the production line will be used to produce conventional surgical type masks, which P2F believe could still be produced on a profitable basis.
GYG 75.5p £35.2m (LON:GYG)
The market leading superyacht painting, supply and maintenance company announced the signing of a Letter of Intent for a 100+ metre New Build yacht in Europe, scheduled to start in Q2 2021. This major project further develops the Group’s strategic focus on building relationships directly with the leading New Build yards. This strategy has delivered continued success and GYG will be working on a record number of New Build contracts in 2021.
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.