Wishing all our readers a Happy & Prosperous New Year from all the team at Hybridan.
* 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:
Scholium Group (SCHO.L) has delisted from AIM.
Whilst we have been away…..
Delistings:
Thursday 19 December Leeds Group (LDSG.L) delisted from AIM.
Monday 23 December OTAQ plc (OTAQ) delisted from the AQSE Growth Market.
Tuesday 31 December Tlou Energy Limited (TLOU) delisted from AIM and Argent Biopharma Limited (RGT) delisted from the Main Market equity shares (commercial companies) category.
Friday 3 January Webis Holdings (WEB) delisted from AIM and Regtech Open Project (RTOP) delisted from the Main Market Equity Shares (Transition) category.
Admissions:
Friday 20 December
Amcomri Group (AMCO.L), the “Buy, Improve, Build” UK focused specialist engineering services and industrial manufacturing Group, announces its Admission to trading on AIM. In conjunction with Admission, gross proceeds of £12m have successfully been raised by way of a placing at a price of 55 pence per Ordinary Share giving the Company a market capitalisation of £39.5m. This London-based company operates a 'buy, improve, build' strategy for specialist engineering services and industrial manufacturing. Amcomri currently consists of two divisions: Embedded Engineering and B2B Manufacturing.
Transfer:
Monday 30 December
Alteration Earth (ALTE) transferred from the from the Main Market Equity Shares (Shell companies) category to AIM and on 31 December, the Company then changed its name to Pri0r1ty Intelligence Group (PR1)
What’s baking in the oven?
Potential** Initial Public Offerings:
Media reports suggest the mid-tier lender, Shawbrook, is planning a £2bn IPO in London. It is understood the company’s owners BC Partners and Pollen Street Capital are in discussions regarding a possible H1 Listing. Founded in 2011, it was established as a specialist savings and lending institution.
Banquet Buffet****
Arrow Exploration 24.75p £71.5m (AXL.L)
The operator with a portfolio of assets across key Colombian hydrocarbon basins provided an update on the operational activity at the Alberta Llanos field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest. The AB-1 well was spud on November 30 2024, and reached target depth on December 13, 2024. AB-1 was the first well drilled into the Alberta Llanos field and results from this well have confirmed the productive potential of the multi-pool field. The well was drilled to a total measured depth of 9,960 MD feet (8,846 feet true vertical depth) and encountered multiple hydrocarbon-bearing intervals. The AB-2 well was spud on December 25, 2024 and reached target depth of 10,795 MD feet on January 1, 2025. Logs and potential productive sands are being evaluated. AB-3 will be drilled immediately upon completion of the AB-2 well. On January 1, 2025, the Company's cash balance was US$19.1m.
ENGAGE XR Holdings 0.575p £3m (EXR.L)
The Metaverse / Spatial Computing technology Company announces the following update on trading for the 12 months ending 31 December 2024. The Company expects to publish its financial results for the year ending 31 December 2024 in May 2025. The Group expects to report revenue of c. Euro 3.4m (2023: Euro 3.7m), below market expectations due to delays in finalisation of some larger contracts in the Middle East and the continued delayed deployment of the previously announced contract with a Middle Eastern client to the first half of FY25. The Group expects to report an EBITDA loss of c. Euro 4.0m (2023: loss of Euro 4.0m), broadly in line with market expectations as management focussed on operational efficiencies and strong cost control. Cash balance at 31 December 2024 of Euro 3.6m (31 December 2023: Euro 7.9m).
Equipmake 1.475p £13.7m (AQSE:EQIP)
The Company involved in electrification technologies, products and solutions across the automotive, truck, bus and speciality vehicle industries, provides an update following the announcement of 6 December 2024 relating to the commencement of a strategic review and Formal Sale Process. Since the commencement of the Strategic Review and Formal Sale Process, the Company has received credible interest from a number of potential strategic investors, partners and potential acquirers. Discussions with these parties are ongoing as the Board continues to work to deliver orders for existing customers and identifying new business to support the pathway to profitability in the mid-term. The Company remains debt-free, other than a number of equipment finance lease agreements. The Board will provide further details of the Strategic Review and Formal Sale Process as appropriate.
Genflow Bioscience 1.825p £6.4m (GENF.L)
A 2024 news update from this biotechnology Company using gene therapies to decelerate the aging process, with the goal of promoting longer and healthier lives, has been released to the markets. Helped by the grant support from the Belgian Government, the focus is on the SIRT6 gene and its potential to slow aging and delay age-related diseases which has seen significant progress. A proprietary liver organoid derived from human cells to treat Wernre Syndrome is also in development. The group remains committed to tackling aging as a fundamental risk factor for chronic diseases.
Guardian Metal Resources 32.5p £39.8m (GMET.L)
The strategic mineral exploration and development Company focused on tungsten in Nevada, USA, announced that it has raised £750,000 in a placing with a single existing institutional investor at an issue price of £0.30 per share. The entire Placing has been subscribed for by Premier Miton. The net proceeds of the Placing will be applied to the Company's working capital and is targeted for accelerated exploration and project development activities at Pilot Mountain as well as, subject to the signing of the definitive agreement, at Tempiute.
MYCELX Technologies 38p £9.3m (MYX.L)
The clean water and clean air technology Company founded to transform the environmental impact of industry provided a year-end update on its core markets. The Company expects its 2024 year-end revenue to be $4.9m, verses market expectations of $4.7m. PBT and EBITDA is still subject to year-end closing, but is expected to be broadly in line with current market expectations and the cash balance of c.a. $1.3m slightly exceeds expectations.
Smarttech247 9.5p £10.8m (S247.L)
The provider of AI-enhanced cybersecurity services providing automated managed detection and response for a portfolio of international clients announces an update regarding the Company's results for the year ended 31 July 2024. The audit of the accounts for FY2024 is currently in progress and the Company expects to announce its final audited results in the second half of January 2025. Revenue for the year is expected to be in excess of Euro 13m, an increase of over 8% year on year. The Company expects to report adjusted EBITDA in excess of Euro 1.3m and adjusted operating profit in excess of Euro 750k. Unaudited cash as at 31 July 2024 was Euro 3.3m.
SRT Marine Systems 41.5p £103.7m (SRT.L)
The global provider of maritime domain awareness systems and technologies for security, safety and environmental protection, announced that it has received formal notice to proceed for the second phase (Phase 2) of a significant, long-term project to build up a national integrated Maritime Domain Awareness system for a national coast guard. This second phase of the project is worth a total of approximately $15m. Final documentation formalities are expected to be concluded prior to the end of January, with immediate commencement thereafter. Implementation is scheduled to complete within 12 months, following which the next phase (Phase 3) is expected to commence.
Technology Minerals 0.155p £2.8m (TM1.L)
The Company focused on creating a sustainable circular economy for battery metals announced that its 48.35% owned battery recycling business, Recyclus Group Ltd, will recycle end-of-life lithium-ion batteries for a leading online retailer as part of their ongoing maintenance programme. The online retailer will send end-of-life Li-ion battery packs to Recyclus' industrial scale Li-ion battery recycling facility for processing. Having already successfully recycled several thousand end-of-life Li-ion batteries from the Company, Recyclus will continue as a service provider to process battery waste for their ongoing maintenance programme.
The operating company that focuses on growing Fintech and banking businesses announced that it expects its adjusted profit before tax to be significantly ahead of market expectations resulting in its first full year profit - a year earlier than forecast. For the 12 months ended 31 December 2024, PBT is now expected to be more than £0.5m (FY23: £(6.6)m), with adjusted EBITDA also expected to be significantly ahead of prior expectations at more than £7.0m, representing a year-on-year improvement in excess of £10m (FY23: £(3.5)m). Group revenue is expected to be approximately £54.0m. This represents growth in excess of 197% (FY23: £18.1m). Cash at year end is no less than £14.0m, of which unrestricted cash is no less than £12.5m.
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