News blog

Quoted Micro 15 June 2020

  • BY: Andrew Hore |
  • POSTED: 28/06/2020 |

AQUIS STOCK EXCHANGE

Wheelsure Holdings (WHLP) has published results for the year to August 2019 and the subsequent interims. Following these announcements, trading in the shares has resumed. There was strong growth in the interim figures with revenues of £116,000 but there was still a loss of £75,000. The working capital facility has been increased to £500,000.

Cannabis products supplier World High Life (LIFE) says it intends to list on the Canadian Stock Exchange. Revenues were £1.05m in the nine months to March 2020. Write-offs meant that the loss was £11.3m. Subsidiary Love Hemp’s online sales in May were double the level in January. Sales have switched from high street to online. There will be a rebrand in September

Engineering businesses consolidator Vulcan Industries (VULC) has raised a further £179,000, including £65,000 raised by share issues to employees at 2p a share. There were also shares issued at 4.25p each. The placing price was 3p a share and creditors are taking shares at that price valued at £175,000 in lieu of flotation costs. The current share price is 4.5p (4p/5p).

Gunsynd (GUN) is raising £600,000 at 0.65p a share and this will be used for further investments.

KR1 (KR1) has participated in the Plasm token distribution. KR1 has 1,232 Ether (ETH) valued at $253,000 which it has agreed to be locked up. Access will be obtained in three intervals over 1,000 days. In return for the lockup KR1 receives 66.3 million Plasm tokens. Plasm is launching a platform on the Polkadot blockchain.

Cadence Minerals (KDNC) has raised £650,000 at 9p a share. The cash will be used to help develop the Amapa iron ore project and pay off loan notes. The stockpile of iron ore should be shipped during the summer. Cadence and the joint venture partners are in discussions with creditors. A scoping study will be commissioned.

The Australian government has approved the acquisition of the Beaconsfield gold mine in Tasmania by NQ Minerals (NQMI). This will enable the mine to be reopened. NQ Minerals has raised £119,000 at 7.5p a share.

Walls and Futures REIT (WAFR) has sold a residential property in Wimbledon Park for £656,000, so that it can reinvest the cash in the core supported housing business. The sale was at a 3% discount to book value.

British Honey Company (BHC) has launched a Special Charity Edition Premium Vodka to raise money for COVID-19 research. One-quarter of sales revenues will go towards funding this research.

Lombard Capital (LCAP) has completed the purchase of a property in Preston. Barry Fromson has been appointed as chief executive and Barry Fitzpatrick as non-executive chairman. Trading in the shares has been suspended.

Sport Capital Group (SCG) had an investment property and nearly £12,000 in the bank at the end of 2019. NAV is £206,000.

AIM

Bahamas Petroleum (BPC) and Columbus Energy (CERP) are merging. Columbus shareholders will receive 0.803 of a BPC share for each share they own. Columbus was valued at £25m when the deal was announced. Columbus will generate cash to help finance exploration by BPC.

Escape Hunt (ESC) is raising up to £4m via a placing and one-for-four open offer at 7.5p a share and a convertible loan note issue of £340,000. The escape rooms operator says all the directors are buying shares. The intention is to spend £2.5m on rolling out more sites and the rest will go on operational improvements and working capital. Five or six new sites are planned in the next 12 months. UK sites were growing revenues prior to lockdown.

Hummingbird Resources (HUM) intends to acquire the Kouroussa gold project from Cassidy Gold Corp. First gold production could be within two years. There is a gold resource of 1.18Moz at >3g/t.

Hawkwing (HNG) plans to move to a standard listing. Formerly TLA Worldwide, trading in the shares is suspended because the shell has not found a suitable acquisition. Hawkwing would lose its AIM quotation in September without an acquisition. There is no time limit on acquisitions for shells on the standard list.

Ilika (IKA) had cash of £14.9m at the end of April 2020. The battery technology developer is choosing a fabrication facility for the manufacture of its batteries. Four potential partners are in the running. A tool that will increase productivity has been ordered and should be delivered by the end of 2020.

Dekel Agri-Vision (DKL) produced less crude palm oil during May because of a decline in fruit delivered to the mill. There were 3,316 tonnes of crude palm oil produced in May, down from 5,316 tonnes in May 2019. However, more was sold during the month because of the much higher production in April. The average price received per tonne increased.

Be Heard (BHRD) has received a bid approach of 0.5p a share from MSQ Partners.

MAIN MARKET

Lower energy prices have led to a fall in the net asset value of JLEN Environmental Assets (JLEN) but it continues to generate cash and pay dividends. NAV has fallen from 104.7p a share to 97.5p a share. Total dividends were 6.66p a share last year and the target for this year is 6.76p a share. JLEN is joining the FTSE 250 index on 22 June.

Air Partner (AIR) is raising £7.5m at 75p a share. Profit was ahead of budget in the four months to May 2020 with strong freight demand. There is also recovery in the private jets market. The cash will fund organic growth including the opening of offices in new locations.

Seafox International has attempted to requisition a general meeting at Gulf Marine Services (GMS) in order to appoint its representatives to the board. GMS says that the requisition is not valid in its current form. Hassan Heikal and Hesham Helbouny are the proposed directors.

Boston International Holdings (BIH) has secured a new £200,000 loan facility from a major shareholder. The plan is to acquire invoice factor Alexanders Discount.

Associated British Engineering (ASBE) is selling its interest in British Polar Engines and this will mean that it will no longer have any commitments to the pension fund. There will be no debt if the deal goes ahead.

Small Cap Awards 2020

The shortlist for the 2020 Small Cap Awards has been published. The awards are for quoted companies with a market capitalisation of less than £200m. This year the awards dinner has been cancelled. Instead, there will be a live virtual awards ceremony held via Zoom on 25 June. There are eleven awards for companies and individuals.

Company Of The Year

Yourgene Health

Volex

Renalytix AI

SDI Group

Ergomed

Judges Scientific

IPO Of The Year

Diaceutics

Brickability Group

Essensys

Argentex Group PLC

Loungers

Pebble Group

Executive Director Of The Year

Matt Jones - CEO of Blancco Technology Group

Giulio Cerroni - CEO of Ixico

Lyn Rees - CEO of Yourgene Health

Jennifer Winter - CEO of Animalcare

Peter Harrison - CEO of Bioventix

David Cicurel - CEO of Judges Scientific

Transaction Of The Year

Centralnic Group - Team Internet

Rockrose Energy - Marathon Oil and Marathon West of Shetland Limited

Kape Technologies - Private Internet Access

Amryt Pharma - Aegerion

Totally - Greenbrook Healthcare

Inspiration Healthcare acquisition of Vio Holdings

Technology Company Of The Year

SRT Marine Systems

Oxford Metrics

Blackbird

Avacta

Blancco Technology Group

Reneuron

Innovative Financing Of The Year

Yu Group PLC

Simec Atlantis Energy

1pm PLC

Symphony Environmental

Impact Company Of The Year

Good Energy

Eden Research

ITM Power

Inspired Energy

Jubilee Metals

Ilika

Analyst Of The Year

Kartik Swaminathan, Arden Partners

Peter McNally, Panmure Gordon

Jens Lindqvist, Investec

Lorne Daniel, Finn Cap

Kai Korschelt, Canaccord Genuity

George O’Connor, Stifel London

Journalist Of The Year

Simon Thompson - Investors Chronicle

Michael Taylor - Investors Chronicle

Mark Shapland - Evening Standard

Joanne Hart - Mail on Sunday

Emma Agyemang - Financial Times

Hannah Godfrey - Professional Adviser

UK Smaller Companies Fund Manager Of The Year

ASI UK Smaller Companies - Harry Nimmo

JPM UK Smaller Companies - Georgina Brittain and Katen Patel

M&G Smaller Companies - Garfield Kiff and Rory Alexander

Invesco UK Smaller Companies Equity (UK) - Jonathan Brown

TM Cavendish AIM B - Paul Mumford

Kames UK Smaller Companies - Elaine Morgan

VCT Manager Of The Year

Amati AIM VCT PLC - Dr. Paul Jourdan, David Stevenson, Anna MacDonald

Unicorn AIM VCT PLC - Chris Hutchinson

Octopus AIM VCT 2 PLC - Kate Tidbury

Maven Income and Growth VCT 1 PLC - Bill Nixon

Seneca Growth Capital VCT PLC - John Davies

Hargreave Hale AIM VCT 1 - Oliver Bedford

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