Small Cap Wrap – Crossword Cybersecurity, Renew Holdings, Motif Bio and more…

Supreme, a leading manufacturer, supplier and brand owner of fast moving consumer products, announces the successful pricing of its initial public offering at 134 pence per share with institutional investors, to raise gross proceeds of £67.5 million. It is expected that dealings in the Shares will commence at 8.00 a.m. on 1 February 2021 on AIM  

27 Jan 2021

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Supreme, a leading manufacturer, supplier and brand owner of fast moving consumer products, announces the successful pricing of its initial public offering at 134 pence per share with institutional investors, to raise gross proceeds of £67.5 million. It is expected that dealings in the Shares will commence at 8.00 a.m. on 1 February 2021 on AIM  

It is expected that dealings in the Shares will commence at 8.00 a.m. on 1 February 2021NQ Minerals, the base and precious metals producer from its 100% owned flagship Hellyer Mine  and the 100% owner of the Beaconsfield Gold Mine, both in northern Tasmania, Australia, has submitted a draft prospectus to the UK Financial Conduct Authority  for approval. The Company is considering applying for admission of its ordinary shares to the Official List of the FCA by way of a Standard Listing and to trading on the Main Market of the London Stock Exchange . Details TBA

Foresight Group , the award-winning infrastructure and private equity investment manager  to IPO on the Main Market (Premium). The Offer will primarily comprise a sale of shares by existing shareholders (c.80% of the Offer) with a smaller offering of new shares (c.20% of the Offer) to be issued by the Company. Details TBA.

Baskerville Capital plc (to be renamed Oberon Investments Group Plc) is a boutique financial institution providing a personalised wealth management service for retail and professional clients, as well as a corporate broking arm for small and mid-cap companies. Oberon’s strategy is to progress through the organic growth of assets under administration in its wealth management division and by the acquisition of complementary businesses in the financial services sector and by creating a trusted brand for the provision of advisory and fundraising services for companies in the small and mid-cap sectors. Expected admission date 9 February 2021.

Cornish Metals (TSX-V: CUSN) intends to list on AIM. The Company is proposing to raise £5m by way of private placement of new Common Shares to advance the United Downs copper-tin project. The Company expects that Admission will become effective in February 2021.  The Company’s Common Shares will continue to be listed and trade on the TSX-V in Canada.

, a closed-ended investment Company focused on making sustainable energy infrastructure investments announced it intends to launch an IPO of shares on the Official List (Premium) of the Main Market of the London Stock Exchange.  Due by Early Feb.

 

Banquet Buffet

Crossword Cybersecurity* 282p  14.5£m ()

The technology commercialisation company focused  on cyber security and risk management,   is today announcing that a limited use version of  its third-party risk assurance platform, Rizikon Assurance , is being made freely available to the circa ten thousand members of the Chartered Institute of Information Security (CIISec).

Rizikon Assurance improves the scalability, security and auditability of third-party assurance and due diligence through its automated, centralised and encrypted platform. CIISec members, for the lifetime of their membership, will be able to send a number of online assessments per year to suppliers and third parties to assess their security posture, pre- and post- contract award. Members will be able to utilise assessments based on one of three industry security standards: Cyber Essentials, IASME Governance and ISO27001. The first 50 registrants will have access to all three online assessments. Members will also be able to use Rizikon Assurance for ongoing assessment of supplier risk through pre-built cyber assessments that generate automated reporting when a completed assessment is received. This is an exclusive membership offer of a limited use version of Rizikon Assurance but members can upgrade to a full user of Rizikon Pro or Enterprise at any time.

 

556p  £437m ()

AGM statement from the Engineering Services Group supporting UK infrastructure . “Trading for the first quarter of the year has continued to be in line with the Board’s expectations. The Group order book at 31 December 2020 was £677m (31 December 2019: £651m). The Engineering Services order book stood at £583m (31 December 2019: £549m). Net debt and cash generation are also in line with the Board’s expectations.

Since the introduction of the latest national lockdown in early January 2021, we have experienced continuity in demand for our services across all our markets where our employees continue to implement strict Covid-19 precautions in line with Public Health England advice. The Group’s operations have remained largely unaffected and, based on our experiences to date, we do not anticipate any material impact on our financial performance.”

 

Motif Bio SUSPENDED ()

Motif announces that it continues to progress a Reverse Takeover under a Heads of Terms Agreement with a UK based candidate in the healthcare sector , as a result of which, subject to, among other matters, the execution of a Sale and Purchase Agreement, Motif would acquire the entire issued share capital of the Target Motif will remain suspended from trading while the Proposed Transaction is negotiated and advanced, and the Company will provide shareholders with further updates as appropriate.

The Target is a UK-based ADC (Antibody-Drug Conjugate) discovery and development company, which uses front-line clinical experience to develop next generation therapeutics for the treatment of various cancers. Should the Proposed Transaction proceed, it is currently expected that the AIM Admission Document will be published before the end of March 2021. At present there can be no assurances that Motif will be able to complete the Proposed Transaction and as a consequence the Company’s admission to trading on AIM may be cancelled.  The AIM Admission Document will include a Technical Expert’s report which is being prepared in respect of the Target’s technology and assets.

 

Group 245.75p  £506m ()

The global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components announced following trading update for the year ended 31 December 2020. The Group experienced a marked recovery in H2 as anticipated, and a strong order book has enabled it to deliver circa 2% growth in adjusted profit after tax for the full year versus the previous financial year (2019: £28.9m). Strong sales since June have been driven by replenishment of pipeline stock and a strong seasonal uplift.  This performance demonstrates the resilience of Strix’s business model, which benefits from geographical and product diversification, and is strengthened further by the Group’s high cash generation and prudent control of its balance sheet.  Current strong order book visibility for Q1 underpins the Board’s continued confidence.

 

 Vector Capital 39p  £16.4m ()

The commercial lending group that offers secured loans primarily to businesses located in the United Kingdom, today provides an update on trading for the year ended 31 December 2020.  The Company’s shares were admitted to trading on AIM on 29 December 2020 and the Company raised gross proceeds of £3.1m at that time. The net proceeds will be used to further grow the Group’s loan book and meet demand for short term loans which are typically used for general working capital purposes, bridging ahead of refinancing , land development and property acquisition.

The Company has delivered a robust performance, in line with management expectations, despite the impact of COVID-19, particularly during the months of April to June, when prudent action was taken to cease new loans.  The Company recommenced the provision of new loans in June 2020 and has subsequently experienced strong demand with increased levels of new business origination.  As a consequence, the Company’s loan book, a key driver for revenue generation, grew to £36.4m as at 31 December 2020, an increase of 8.2% (FY2019: £33.6m). The Company had 63 live loans at the year end with an average loan size of approximately £577,000 and an average loan to value (LTV) of 44.2%.  Subject to completion of the 2020 audit, the Group generated growth in revenue during the year with revenue expected to be c. £4.3 million, an increase of c. 20% (FY2019: £3.6 million).  At 31 December 2020, the Group’s cash balances were £2.57 million (FY2019: £0.34 million). 

 

475p  £42.9m ()

HY Oct 20 Results Colefax is an international designer and distributor of furnishing fabrics & wallpapers and owns a leading interior decorating business.  · Strong recovery in core Fabric Division sales following the lockdowns in force at the start of the period. · Group sales down 14.0% to £36.97 million (2019: £42.98 million) and by 12.8% on a constant currency basis  · Group profit before tax up 17% to £3.37 million (2019: £2.88 million) mainly due to costs deferred by delayed new product launches  · Earnings per share increased by 18% to 28.2p (2019: 23.9p) 

· Fabric Division sales down 7.8% to £33.60 million (2019: £36.50 million) and by 6.3% on a constant currency basis o  US down by 5.9%, UK down by 11.7%, Europe down by 2.0%  · Decorating Division sales down 60% to £2.1 million (2019: £5.2 million) due to coronavirus restrictions o  loss of £687,000 (2019: profit  of £255,000)  · Cash increased by £8.4m to £19.9 million (30 April 2020: £11.5 million) partly due to delayed investment in new product

“In the last two months, restrictions have been re-imposed to varying degrees in both the UK and our export markets but so far, the impact on sales is much less than we experienced during the first lockdown.  Brexit has added an additional layer of cost and complexity to our European business which we will try to mitigate as far as possible. We are cautiously optimistic about future prospects especially as 62% of our sales in the Fabric Division are in the US, where sales have been very resilient during the pandemic”.

 

Group 59.5p  £82.3m ()

The specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces that it has entered into an exclusive licence agreement for its product, Alkindi® (hydrocortisone granules in capsules for opening), with the specialty pharmaceutical company, Citrine Medicine, Inc.  covering China, Hong Kong, Taiwan and Macau.

Under the terms of the licence agreement, Diurnal will receive a non-refundable upfront payment of $0.5 million and will receive $12.75m in additional cash payments upon achievement of certain regulatory milestones and sales milestones based on annual sales thresholds. Diurnal will receive tiered royalties on sales ranging from low to mid double-digits.

 

dotDigital Group 182.25p  £543m ()

The ‘SaaS’ provider of an omnichannel marketing automation and customer engagement platform, announces that, as part of its dotgreen initiative, it has achieved its goal of becoming carbon neutral and has been awarded the ISO 14001 Environmental Management certification.   

ISO 14001 is an internationally agreed standard that sets out the requirements for an environmental management system. This certification has been implemented to monitor and continuously improve dotdigital’s environmental performance and comes shortly after the Group was awarded the ISO 27001 accreditation, continuing to demonstrate operational excellence against internationally recognised standards in areas of privacy, security and sustainability.  

 

Uniphar 2.47p  £673m (LON:UPR)

Appointment of two independent Non-Exec directors. Jim Gaul is an experienced executive and non-executive director with a strong track record in financial management in multinational pharmaceutical and healthcare sector companies. He is a former CFO of Sanofi Ireland, with thirty years’ experience in companies across the healthcare value chain, from early stage/R&D pharma to patient-facing hospital services.   Liz Hoctor is a qualified pharmacist with over thirty years’ practical business experience and over twenty years’ experience in advocacy and negotiation at both political and administrative levels of Government on behalf of the pharmacy profession. Liz was elected as President of the Irish Pharmacy Union from 2008-2010 and since 2013 has served as Professional Development and Learning Manager at the IPU

Headquartered in Dublin, Ireland, is an international diversified healthcare services business, servicing the requirements of more than 200 multinational pharmaceutical and medical technology manufacturers across three divisions – Commercial & Clinical, Product Access and Supply Chain & Retail.

 

MTI Wireless Edge  82.5p  £73m ()

The technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, to announce that Mottech Water Solutions Ltd the Group’s subsidiary in the wireless irrigation control solutions sector, has signed a renewal of an existing service agreement valued at approximately US$0.65 million.  The renewal is with one of the five largest municipalities in Israel and one of Mottech’s largest service customers. The services will be provided over the next two years, with options to increase the term of the services for up to a further two years. 

 

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Derren Nathan

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derren.nathan@hybridan.com

 

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