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Yourgene Health (YGEN.L)

 

What’s cooking in the IPO kitchen?** 

Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Admission delayed.

 

Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join the Access Segment of the AQSE Growth Market. Admission delayed.

 

Banquet Buffet*** 

Active Energy Group 4.75p  £7.7m (AEG.L) 

The international biomass based renewable energy business, announces an update on the construction of the CoalSwitch® manufacturing facility at Ashland, Maine (the Ashland Facility). The Company has been informed that construction of the Ashland Facility will not be completed and will not be ready to commence production, before the end of Q3 2023. The delay in completion of construction is due to delays in receipt of key components and associated equipment. Operations at the Ashland Facility and production of CoalSwitch®  are now expected to commence in November. 

 

Barkby Group  7.5p  £10.8m (BARK.L) 

The owner of a diverse portfolio of businesses announces that it is exploring options to maximise shareholder value from its subsidiary, Cambridge Sleep Sciences, (CSS) the science-based sleep technology business behind SleepEngine®. CSS expects to generate revenues in excess of £10m over the next three years, based on the licence deals signed to date. The Board has appointed advisers to undertake a strategic review of Barkby's investment in Cambridge Sleep Sciences as the Company focuses on its Roadside Real Estate strategy. 

 

Blackbird PLC 10.5p  £38.7m (BIRD.L) 

The technology licensor, developer and seller of the cloud native video editing platform Blackbird, announces a contract win with an OEM partner for use at a global Summer Games in 2024. This Summer Games deployment will involve the deployment of Blackbird's cloud video editing platform to publish content from up to 70 concurrent live streams and provide rights holders all over the world with the availability of the full editing suite. The deal also covers Blackbird's usage on two other events, including a schools project and a global Youth Games. 

 

Bushveld Minerals  2.3p  £35.8m (BMN.L) 

The integrated primary vanadium producer and energy storage solutions provider, announces that it has entered into a binding term sheet with the investment fund SPR GP1 (Pty) Limited (Southern Point Resources, SPR). The key terms of the cumulative proposed investment of US$69.5-US$77.5m are as follows: (1) Working capital facility of US$8.1m secured against production at the Vanchem plant; (2) US$25m for SPR’s proposed purchase of 50% of the shares in Bushveld's subsidiary that owns its Vanchem vanadium plant, and its 64% equity interest in its subsidiary that owns its Mokopane project; (3) an equity investment by Southern Point Resources of US$12.5m into the Company, at the same equity price as Orion Mine Finance; (4) US$25-30m medium-term trade finance working capital facility; (5) a potential commitment by SPR of an investment of US$7-10m in Vanchem for the recommissioning of Kiln-1. 

 

Inspired 90p £90.4m (INSE.L) 

The technology enabled service provider supporting businesses in their drive to net-zero announced its unaudited results for the six-months ended 30 June 2023. The Group’s revenue was £44.6m in H1 2023, up 10% from 1H 2022. Adjusted EBITDA grew 9% in H1 2023, with stable margins at 24% and in line with expectations. Net debt was £49.1m, up 14% year-on-year, driven by performance related payments in relation to acquisitions and due to the timing and profile of optimisation projects. Net debt is expected to decrease by the year end. Given the 1H 2023 performance and current trading, the Board remains confident in delivering market consensus for the full year 2023. 

 

Intelligent Ultrasound Group 11.25p  £36.8m (IUG.L) 

The 'classroom to clinic' ultrasound company, specialising in artificial intelligence (AI) software and simulation, announces that GE Healthcare has launched SonoLystlive onto its latest version of the Voluson Expert Series portfolio of ultrasound machines. This new technology further builds on Intelligent Ultrasound's long-term partnership agreement with GE HealthCare, which already incorporated Intelligent Ultrasound's AI technology as an option add-on in its SonoLyst X/IR software on the Voluson Expert 22 and SWIFT ultrasound machines. 

 

Journeo plc 190p  £30.8m (JNEO.L) 

The provider of information systems and technical services to transport operators and local authorities, announces that it has received purchase orders totalling £2.25m from Hertfordshire County Council. These purchase orders are for the provision of Journeo's advanced real time passenger information systems and software in bus shelters and on-street at key locations throughout Hertfordshire county. These purchase orders are included in management's expectations of performance for FY23 and FY24 and add to the Company's strong order book. 

 

Pennant International Group 38p  £14,0m (PEN.L) 

The IPS software and services company announces that it has signed a strategic partnership agreement with Oxford-based Aquila Learning Limited (Aquila), a developer of innovative technologies and services for complex training needs on a number of projects including the integration of the ALaRMS (Aquila Learning and Requirements/ Resource/Record) Management System into Pennant's IPS software suite (GenS, Analyzer and R4i). Aquila has established capabilities within defence organisations and OEMs in the UK and overseas. The new partnership agreement will provide users with additional capabilities and functionality, including an end-to-end S-Series software toolkit. 

 

Rainbow Rare Earths  16.5p  £98.8m (RBW.L) 

The developer of a responsible rare earths supply chain to drive the green energy transition, announce its strategic supply agreement with the UK-based Less Common Metals Ltd (LCM) for supply of the magnet separated rare earth oxides neodymium and praseodymium (NdPr), dysprosium (Dy) and terbium (Tb). These rare earth elements are used to make the permanent magnets for electric vehicles, wind turbines and other high-tech products in defence. LCM is a manufacturer of complex alloy systems and metals. The separated rare earth oxides supplied by Rainbow will be used for manufacturing into metal in order to create an alloy, which is then supplied to permanent magnet manufacturers in the EU and the USA. 

 

Water Intelligence 402.5p £69.9m (WATR.L) 

The multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water, announces that the commercial traction of its four technology products reinforces its 2024 sales plan. These products are IntelliDitch, a proprietary liner product that slips over concrete or earthen channels to convey water; Pulse, a proprietary tool based on acoustic technology that pinpoints sewer line blockages much faster and more accurately than conventional video camera technology; LS1 (to be branded in Q4), an acoustic device that enables rapid surveys of urban water and wastewater infrastructure; and CreatorSuite 2.0, an AI video ecommerce tool. 

 

* A corporate client of Hybridan LLP

** Arranged by most recent first

*** Alphabetically arranged

 

  

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