* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
Dish of the day
Admissions:
Delistings:
Apollon Formularies (AQSE:APOL) has withdrawn from the Aquis Stock Exchange
What’s baking in the oven? **
Potential**** Initial Public Offerings:
ITF announced:
22nd May: Raspberry Pi announces an intention to float onto the Premium listing segment of the Main Market. Raspberry Pi is a designer and developer of high-performance, low-cost single board computers and compute modules for industrial IoT customers and embedded uses, as well as for enthusiasts and educators, in markets worldwide. The Company is looking to raise $40m, the net proceeds of which will be used by the Company for engineering capital expenditure, to enhance its supply chain resilience and for other general corporate purposes. The Group's revenue was $140.6m, $187.9m and $265.8m and gross profit was $41.9m, $42.3m and $66.0m in the years ended 31 December 2021, 2022, and 2023, respectively.
4th June: Advanced Oxygen Therapy Inc (AOTI): The medical technology group with a proprietary therapy for the reduction in hospitalisations and amputations caused by non-healing wounds, particularly diabetic foot ulcers, announces its Schedule One and expected first day of trading on the AIM market of the 18th June. The Group expects to raise $25m.
Media speculation:
2nd June: Online fashion firm Shein from China is preparing to file a prospectus ahead of a potential London float which could value it around £50bn.
Reverse Takeovers:
Change of Market:
Dual Listing:
Banquet Buffet***
Checkit 24.5p £26.5m (CKT.L)
The augmented workflow and smart sensor automation Company for frontline workers announces a formal approach to the board of Crimson Tide regarding a possible all-share offer for Crimson Tide pursuant to which Checkit would acquire the entire issued and to be issued share capital of Crimson Tide. Based on Checkit’s middle market closing price of 26p on 3 June 2024. The offer values Crimson Tide shares at 182p each and entire issued ordinary share capital at approx. £12m, this represents a premium of 12% to the mid market closing price of 162.5p on 3 June 2024.
Deltex Medical Group 0.13p £2.5m (DEMG.L)
The oesophageal doppler monitoring Group announces the successful award by NHS Supply Chain (NHSSC) of the national framework tender for the new TrueVue System in the UK. The award means that the new TrueVue System has been selected by NHSSC as a pre-approved device that can be purchased by NHS hospitals. The framework agreement is not a purchase order but enables the NHS and approved customers to purchase Deltex Medical's new TrueVue System through a compliant route to market.
Eleco 118p £97.1m (ELCO.L)
The software and related services to the built environment through its operating brands Elecosoft, BestOutcome, Vertical Digital and Veeuze from centres of excellence in the UK, Sweden, Germany, the Netherlands, Romania and the USA announces that the business continues to perform well with a solid trading performance over the first four months of the financial year. The Board remains confident in the outlook and trading remains in line with market expectations for the full year.
Gooch and Housego 551p £142.1m (GHH.L)
The manufacturer of optical components and systems announces its interim results for the six months ended 31 March 2024. Revenue decreased 1.4% to £63.6m (H1 23: £64.5m), adjusted profit before tax decreased to £2.6m (H1 23: £4.7m) and net debt including IFRS 16 was £30.4m (H1 23: £19.2m). Full year expectations are unchanged as the execution risks to H2 remain, but have been reduced.
Hummingbird Resources 8.45p £67.5m (HUM.L)
The Company which is involved in exploration, evaluation, development, and operating of mineral projects, principally gold, focused currently in West Africa announces its audited financial results for the year ended 31 December 2023. Revenue increased to $167.1m (2022: $150.5m), the loss before tax decreased to 18.7m (2022: $44.3m) and total bank debt of $148.3m (2022: $115.7m) was reported. During 2023, the Company raised a total of c.$22.4m (net of fees) of equity through two raises, with the Company receiving the remaining $22.2m of the second raise in January 2024. This funding cemented CIG SA, the Company's largest shareholder, as a strategic cornerstone partner for the Company.
LendInvest 29.5p £41.6m (LINV.L)
The platform for mortgages Company today announces that it has been formally notified by Penny Judd of her intention to step down from her position as Independent Non-Executive Director of the Company and Chair of the Audit & Risk Committee with effect from the publication of the Company's annual results in July 2024 in order to focus on her other directorships and commitments. Maeve Byrne has been appointed to succeed Penny Judd as an Independent Non-Executive Director of the Company and Chair of the Audit & Risk Committee. Maeve will also be a member of the Company's Nomination and Remuneration Committees. Maeve is an accomplished financial services professional who brings over 30 years of experience to her new role. She has held key leadership positions at respected institutions like RBS and KPMG and currently serves as a Non-Executive Director and Audit Committee Chair at Alpha FMC.
Longboat Energy 6.5p £3.7m (LBE.L)
An emerging full-cycle E&P Company currently active in Norway and Malaysia announces changes to its board and management team. The net result of the changes will reduce the Company's board to four members (from seven at the end of April) and is one of the cost reduction actions resulting from the Company's ongoing review. Brent Cheshire and Jorunn Saetre will be retiring at the AGM. Additionally, Katherine Roe has notified the board of her intention to step down at the AGM to focus on new executive opportunities. Jonathan Cooper, currently Chief Financial Officer, has agreed to leave the Company on 30 August 2024 after a short transition period. A resolution will be proposed at the AGM for James Menzies to be appointed to the Board of Directors as Executive Chairman. A second resolution will be proposed at the AGM for Geraldine Murphy to be appointed to the Board of Directors as an independent non-executive director.
Mirriad Advertising 1.11p £11.3m (MIRI.L)
The in-content advertising Company announces its audited results for the year ended 31 December 2023. Revenue increased to £1.80m (2022: £1.51m), the adjusted EBITDA loss decreased to £10.4m (2022: £14.0m) and cash consumption decreased to £10.5m (2022: £12.9m) following a significant restructuring in the year. The net cash at 31 December 2023 was £6.1m (2022: £11.3m). The cost-cutting decisions and successful fundraise means Mirriad Advertising now has the ability to realise the potential of the huge content and sales power of the recently signed Tier-One partners and new involvement in key set-pieces like this year's Upfronts. In TV advertising, the "Upfront" is the long-established practice of buying and selling TV advertising time months in advance, typically in the Spring of each year, for advertising space scheduled to air in the coming television broadcast year.
MyHealthChecked 11.5p £6.0m (MHC.L)
The consumer home-testing healthcare Company announces its final results for the year ended 31 December 2023. Revenue decreased to £11.om (2022: £22.3m), adjusted EBITDA decreased to £0.015m (2022: £2.26m) and the cash balance at the year end was £7.75m (2022: £7.61m). Following the trend seen in 2023, COVID revenue in the first quarter of 2024 was less than the comparable period of the prior year but has demonstrated volume sales growth of Wellness tests and the Company continues to work with retail customers to drive volume growth throughout the year.
Synectics 175p £31.1m (SNX.L)
The advanced security and surveillance systems Company provides an update on trading for the six months ended 31 May 2024. Following continued momentum in H1 2024, the Company announces that trading for the year ending 30 November 2024 remains comfortably in line with market expectations, and that the Group's cash position remains strong. Following the early delivery of a number of projects by the Group's Systems division in H1 2024, the Board expects a more evenly weighted financial performance in FY 2024 rather than being weighted to the second half of the year as previously expected and as in prior years.
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