* 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
Admissions:
None
Delistings:
None
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.
Banquet Buffet****
Aptamer Group 0.225p £4.32m (APTA.L)
The developer of novel Optimer binders announced its full year results for the twelve months ended 30 June 2024. Revenue to y/e June 2024 was £0.8m with an EBITDA loss £2.2m and net cash of £0.9m. After the year end, in August and September £3.5m was raised at 0.2p. The commercial pipeline is being rebuilt with £1m in orders won in the last quarter. There is increased commercial traction reported in advancing licensing of critical reagents with a top five pharmaceutical partner.
Artemis Resources 0.725p £14.2m (ARV.L)
The company discovering gold and copper resources announced an update on the planned drilling of the Lulu Creek prospect in the Pilbara region of Western Australia. It is now cleared for drilling having completed the Heritage and Ethnographic survey and with WA Government co-funded drilling grant approved. Lulu Creek lies 20km to the west of the Company's Carlow Castle deposit and forms part of the prospective Greater Carlow area. Its targeting potential for Intrusive Related Gold System (IRGS) and the previous shallow drilling intersected several anomalous gold zones (>0.4g/t Au) over 1.5km including 1m @ 4.89 g/t Au and 13.7 g/t Ag. The drilling teams are to be mobilised shorty.
Cordel Group 5.75p £12.36m (CRDL.L)
The producer of specialist hardware and software announced that Network Rail has provided a Certificate of Approval for Cordel's AI-powered outputs for Electrified lines. The certificate is for the measurement of Overhead Line Equipment using LiDAR data captured from ordinary passenger trains, operated in normal service at line speeds of 140 km/h. It demonstrates compliance for the measurement of static contact wire height, stagger and deviation allowing timely corrective action to be taken to prevent incidents. Its AI-driven railway infrastructure insights can be used throughout Network Rail to create safer, more efficient and sustainable railways.
EDX Medical 9.25p £32.13m (AQSE: EDX)
The developer of digital diagnostic products and services announces it has raised £300k at 11p which is a 22% premium to the market price. The investor is a healthcare investor based in Saudi Arabia and the investment will be used to support the expansion of EDX Medical's capabilities and operations. The investor's extensive network of healthcare contacts in the Gulf could be significant in marketing new products in that region.
Image Scan 3.3p £4.52m (IGE.L)
The specialist supplier of X-ray screening systems to the security and industrial inspection markets, reported a pre-close trading update for the year ended September 2024. As the Interim report anticipated H2 trading has been much stronger. Subject to audit, revenue is expected to be around £2.9m, broadly in line with FY23’s revenue of £3m. It also expects to report a pre-tax profit in line with market expectations at £0.2m which is a 100% on FY23. The order book stood at £4.5m which will be primarily delivered in FY25 and FY26. As at 30 September 2024, the Group had cash balances of £912k (FY23: £958k).
Mobile Streams 0.34p £26.68m (MOS.L)
The company that delivers gaming content to global audiences appoints of Stefano Loreti, 53, as a Non-Executive Director of the Company with immediate effect. Stefano is a serial investor in start-ups and growing companies. He has over 27 year of investment experience at institutional level and is currently a Partner at Goldentree Asset Management, a $55 billion hedge fund and global asset manager with investments across the world.
Ondine Biomedical 6.625p £18.43m (OBI.L)
The life science pioneer of light-activated antimicrobial treatments announced that King's College Hospital (KCH) will be running a pilot of its Steriwave light-activated antimicrobial technology. The antimicrobial treatment uses a proprietary light-activated agent to rapidly eliminate infection-causing pathogens. The light activates the photodynamic agent, causing an oxidative burst that destroys infection-causing bacteria, viruses, and fungi in a single, 5-minute treatment. KCH, is recognized for its healthcare innovation and is one of London's largest teaching hospitals. It will be using Steriwave, later this year, as part of a quality improvement initiative pilot focused on preventing hospital-acquired infections (HAIs). In March 2024, Mid Yorkshire Teaching NHS Trust became the first UK institution to adopt Steriwave for preventing surgical site infections in hip and knee surgery patients.
Red Rock Resources 0.0375p £1.9m (RRR.L)
The natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia, announced that it has raised £0.2m at 0.0335p. The funding is to pay accounting costs, for the acquisition and transport of gold mining equipment, the commencement of gold operations in West Africa, operational and professional costs and other working capital purposes.
Strip Tinning 37.5p £6.38m (STG.L)
The supplier of specialist connection systems to the automotive sector, announces the receipt of a fifth strategic contract in the rapidly growing “smart glass" market, from a leading Global automotive Tier 1 Glazing manufacturer. The glazing panels will be supplied to a German car OEMs for two new mid-range vehicles. Delivery will start to ramp-up in Q4 2025 and run until 2033, with forecasted annual sales value peaking at £0.18m and an expected lifetime value of £1.1m. This has the potential to lead to further opportunities. It has received a smaller contract from this same Tier 1 Glazing customer, for a heating connector a European sports car manufacturer. Secondly, it has received a Battery Technologies order for a major UK based car OEM for an advanced cell sensing FPC prototype. As the pipeline grows the company are confident sales will double by the end of 2026.
World Chess 4.75p £32.9 (CHSS.L)
The chess organisation committed to enhancing the global mass market appeal of chess by introducing a variety of innovative chess-related activities, announced the planned launch of the World Chess Tour (WCT) in 2025. The proposed global circuit is expected to feature chess's biggest stars alongside rising talents in a series of tournaments modelled on the ATP Tour in tennis. The WCT has been designed to revolutionise competitive chess by providing an annual structured, high-profile series of events where players can compete for prestigious titles, major prize pools, and global recognition. The WCT proposes to feature weekly high-stakes online tournaments, as well as six to eight open tournaments in major global cities, followed by two Grand Slam events and a year-end Championship.
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