* 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
What’s baking in the oven?
ITF announced:***
Potential** Initial Public Offerings:
30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand has confirmed its intention to float on the LSE Main Market. The Group sells approximately 100 different products, with flavour and format combinations across those products resulting in over 500 stock keeping units. July 2024 YE numbers reported revenue of £86m and EBITDA of £25.9m. The Offer will compromise existing shares to be sold by certain existing shareholders of the Company. Any additional details in relation to the Offer, together with any changes to corporate governance arrangements, will be disclosed in a Prospectus, if and when published.
17th October 2024: Selkirk Group, a newly incorporated company established with the primary objective of acquiring a company or business which the Directors believe is undervalued and providing them with their own listing on the AIM market to create shareholder value or acquiring an existing public company and providing a highly incentivised management team with strategic direction. The Company is focused on acquiring business which are headquartered in the UK. The Company is primarily focused on the small and mid-cap market, specifically within the Consumer, Technology and digital media related sectors. Expected first day of trading in late October with an expected size of primary offer of £7.5m.
Dual Listings:
4 October 2024: Pulsar Helium, a publicly traded company on the TSX Venture Exchange (TSXV:PLSR) and the OTC QB Venture Market (OTCQB:PSRHF) focused on helium exploration and development is planning to list on AIM also. The Fundraising comprises a placing of 15,500,000 new common shares at a price of 25p. At the Issue Price, the Company’s market capitalisation on Admission would be c. £31.6m. Admission is expected to occur on 18 October 2024, under the ticker AIM:PLSR.
ActiveOps 127p £90.6m (AOM.L)
A provider of Decision Intelligence for service operations today provides an update on trading for the six months ended 30 September 2024. The Group expects to report overall revenue growth of approximately 9%, or 11% on a constant currency basis, to £14.3m (H1 2024: £13.1m). The Group expects to deliver EBITDA growth for the half and an increase in profit before tax. The Group had cash and cash investments at the period end of £13.4m (H1 2024: £9.9m).
Arbuthnot Banking Group 945p £153.9m (ARBB.L)
The Company provides the following update regarding the trading performance of the Group for the three months to 30 September 2024. Customer deposit balances of £3.8bn at the period end (30 September 2023: £3.5bn), customer loans (including leased assets) of £2.5bn at the period end (30 September 2023: £2.3bn), funds under Management and Administration exceed £2bn for the first time with growth of 18% in the first nine months of 2024.
Cadence Minerals 2.45p £5.4m (KDNC.L)
An early stage investment and development company within the mineral resource sector announces the progress of the exploration of ASX-listed Evergreen Lithium Limited (ASX: EG1) assets in Australia. Cadence is an 8.74% shareholder in EverGreen. The second phase of near-surface drilling has commenced at Bynoe, targeting two LCT pegmatite high-potential zones and an area of gold-arsenic anomalism, mapping has identified prospective areas to undertake air-core drilling targeting LCT pegmatites in the west and north-west of the lease, arsenic anomalism in soil sampling results, in association with geological mapping, has highlighted an extensive zone with the potential for gold mineralisation and further favourable results will pave the way for follow-up work programs, including additional air-core drilling and RC drilling.
Camellia £44.60 £123.2m (CAM.L)
The agricultural group of companies announces an improvement to its forecast for the year to 31 December 2024 with trading now expected to be ahead of market expectations. Adjusted losses for 2024 are now forecast in the range of £7-9 m from a previous range of £10-12m. This improvement is primarily the result of an improved outlook for our Indian operations. Projected yields in North India are impacted by hot dry spells and heavy rainfall, resulting in lower production predicted, but similar to 2023. Pricing has improved significantly. Avocado pricing has been higher than last year's levels. Production, however, was hit by wet weather during the second quarter. The need to route cargoes away from the Red Sea has led to extended voyage times and has impacted fruit quality.
Helium One 1.025p £60.5m (HE1.L)
The primary helium explorer in Tanzania provides the following updates and acknowledges the announcement released today by Blue Star Helium. The Colorado Energy and Carbon Management Commission (ECMC) approves five new proposed helium development well locations (Jackson-27 SWSE, Jackson-31 SENW, Jackson-29 SWNW, Jackson-2 L4 and Jackson-4 L4) at the Galactica Project. These wells are located to the south and southwest of the successful State-16 well toward the proposed Galactica plant site and are expected, together with State-16, to form part of the initial gas gathering into the Galactica helium production facility which the Company is jointly developing with Blue Star as Operator. This approval satisfies a key condition precedent to the farm in agreement. Drilling on the Galactica Project expected to start Q4 2024, subject to Form 2 (drilling permit) approval.
Novacyt S.A 56.3p £40.3m (NCYT.L)
The molecular diagnostics company with a broad portfolio of integrated technologies and services announces that it has received accreditation under the new EU requirements of the In Vitro Diagnostic Regulation (IVDR) for the Yourgene Cystic Fibrosis Base assay. The Yourgene Cystic Fibrosis Base assay is a Class C in vitro medical device under IVDR and is intended for use by healthcare professionals within a molecular laboratory environment. IVDR ensures that the Yourgene Cystic Fibrosis Base test, which is manufactured for sale in the EU, is assessed against stringent quality, safety and performance requirements. Manufacturers must provide considerable evidence of scientific validity, as well as data demonstrating analytical and clinical performance of the tests. The Yourgene Cystic Fibrosis Base test was assessed by British Standards Institution (BSI), an independent conformity assessment body, and was shown to conform to the new regulations. The Yourgene Cystic Fibrosis Base test, part of Yourgene's Reproductive Health portfolio, is used to identify patients with any of the 50 most common CF mutations in the European population.
One Heritage Group 3p £1.2m (OHG.L) *
The residential developer, development manager and property manager, focused on the North of England confirms the change of name from One Heritage Group plc to Zentra Group plc following the issue by Companies House of a change of name certificate dated 11 October 2024. The Company confirms that the Name Change has been notified to the London Stock Exchange and trading in the Company's shares under the new company name and new TIDM of ZNT is expected to commence tomorrow at 8.00 a.m. 18 October 2024. The Company's ISIN and SEDOL remain unchanged. Shareholder's rights are unaffected by the Name Change and existing share certificates should be retained and will remain valid.
Orosur Mining 2.9p £7.1m (OMI.L)
A minerals development company with a portfolio of high-quality assets in the precious and battery metals spaces announces that further to its news release of September 10th, 2024, the TSX.V has now granted approval of the transaction that would see Orosur returning to 100% ownership of the Anzá gold project in Colombia, subject to terms and deferred consideration as outlined in the Sept 10th announcement. The Company is now actively progressing toward technical completion of the Anzá transaction, with a view to commencement of field activities at Anzá as soon as possible.
Physiomics 0.675p £1.4m (PYC.L) *
The mathematical modelling, data science and biostatistics company supporting the development of new therapeutics and personalised medicine solutions announces that it has been awarded a new contract by an existing client Cancer Research UK. The project involves the development of Pharmacokinetic Pharmacodynamic (PK/PD) model to simulate the exposure-response relationship for a novel oncology therapy to guide starting dose and dose range for an upcoming First in Human Study.
Premier African Minerals 0.052p £20.3m (PREM.L)
A multi-commodity mining and natural resource development company provides this update on the plant status and next steps to recommence production at Zulu Lithium and Tantalum. Test work reports are now submitted by Enprotec, and further supported by independent work undertaken by the supplier of the reagents used to float Spodumene from Zulu ore, indicate that inconsistent grade and recovery in the Spodumene flotation plant are primarily due to inadequate reagent dosing in the flotation circuit and excessive residence time in the Spodumene cleaning circuit. Adjustments to the reagent dosing should enhance selectivity in the flotation process, while reducing the residence time in the cleaning circuits should minimize the flotation of gangue minerals.
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