* 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:
None
Delistings:
Libertine Holdings (LIB.L) has delisted from AIM
What’s baking in the oven?
Potential**** Initial Public Offerings:
ITF announced:
18th September 2024: GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5m and anticipating a £6.5m market cap. GenIP is a portfolio company of London-based intellectual property investor Tekcapital PLC (TEK.L). GenIP is using Generative Artificial Intelligence (GenAI), whose mission is to empower organisations to better evaluate and commercialise technology discoveries through two distinct, yet complementary, services namely; providing bespoke enhanced research reports assessing the market potential for new technological innovations by using the Company's GenAI driven proprietary software, InventionEvaluator; and providing executive recruitment services to match technology organisations with experienced executives and business leaders using the Company's GenAI-driven proprietary software, Vortechs.
30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand announced that it is considering an IPO onto the LSE Main Market. Across the four ranges, 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. Offer details TBC but it would comprise existing shares to be sold by certain existing shareholders of the Company.
Banquet Buffet***
Celadon Pharmaceuticals 26p £17.9m (CEL.L)
The pharmaceutical Company focused on the development, production and sale of breakthrough cannabis-based medicines today announces its unaudited condensed interim results for the six months ended 30 June 2024. Revenue increased to £63k (30 June 2023: £8k), loss before tax decreased to £2.4m (30 June 2023: £4.4m) and a cash balance as at 30 June 2024 of £16k (30 June 2023: £1.6m). Cash at 27 September 2024 of £0.5m. While the UK market is early in its development, the growing demand for Cannabis Based Medical Products internationally indicates the potential path for the UK market. As such, the Board are increasingly optimistic around the medium to long-term sector outlook and the prospects for Celadon and the wider medicinal cannabis market.
Christie Group 95p £25.2m (CTG.L)
The provider of Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS) to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors today announces its Interim Results for the six months ended 30 June 2024. Revenues increased by £2.2m (7%) to £35.3m (H1 2023: £33.1m), loss before tax decreased to £1.15m (H1 2023: £1.86m) and the cash balance was £947k (H1 2023: £2.88k). The Group commenced the second half with encouraging pipelines for both the UK and European businesses, with the UK transactional pipeline 24% higher than the same point than H1 2023.
Concurrent Technologies 114.5p £98.1m (CNC.L)
A designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world's major OEMs announces that the Systems business has been awarded a contract with a large US defence prime contractor for an initial $255k. The Company will provide low-rate initial production units, following an earlier contract to design this customer specific solution. Having secured this design win, it's anticipated that full rate production purchase orders will follow for several years, with a potential lifetime value of approximately $5m.
Coro Energy * 0.04p £1.1m (CORO.L)
The Southeast Asian energy company with a natural gas and clean energy portfolio report Interims to June 2024. Its revenue increased 17% to $136k while, the Loss Before Tax decreased 46% to £1.35m. Its two lenders holding 68% of the Luxembourg listed Eurobonds with an outstanding balance of $31.4m, that was due to expire on 12 April 2024 granted a conditional standstill on the repayment whilst the ongoing constructive discussions continue. The Mako gas field is one of the largest gas discoveries (437 Bcf gross, full field) 2C (contingent recoverable resources) in the West Natuna Basin and, the Directors believe, the largest confirmed undeveloped resource in the area. Progress was made towards funding with binding sales agreement for the export proportion of the natural gas. The Third binding PPA (Power Purchase Agreement) for the solar roll-out in Vietnam entered and initiated construction at the next 50 sites with an aggregate capacity of c.1.9MW, bringing the total contracted capacity to 3.3MW across 90 sites.
Eco Buildings Group 9.75p £7.9m (ECOB.L)
The Company that provides housing solutions and construction materials announces its unaudited interim results for the six months ended 30 June 2024. Revenue increased to EUR0.2m (H1 2023: EUR0.03m), loss for the period increased to EUR1.0m (H1 2023: EUR0.9m) and cash at the end of the period was EUR34k (H1 2023: EUR638k). In conclusion, 2024 so far has been a breakthrough year for Eco Buildings Group's sales, with significant contracts, new market entries, and diverse product offerings driving both current and future revenue growth. The company's sales strategy is aligned with global trends in modular construction, allowing it to capitalise on emerging opportunities across multiple regions.
Jade Road Investments * 0.275p £1.0m (JADE.L)
The Company focused on seeking the best risk-adjusted returns globally announces its interim results for the six months ended 30 June 2024. Total interest income decreased to US$0.01m (H1 2023: US$0.59m), net loss of US$0.4m (H1 2023: US$1.4m loss) and period end cash position of US$ 0.06m (31 December 2023 : US$ 0.08m). NAV per share at 30 June 2024 (0.10) cents ((0.08p) (31 December 2023: 0.02 cents / 0.01p).
Petards Group * 9.5p £5.8m (PEG.L)
The developer of advanced security, communications and surveillance systems reports its interim results for the six months ended 30 June 2024. Revenue was £4.4m (H1 2023: £4.4m), Adjusted EBITDA profit of £33k (H1 2023: £59k loss) and net debt at 30 June 2024 £680k (31 Dec 2023: net funds £1,24m). While the first half of 2024 has not been easy, the successful acquisition of Affini and the improvement in the Group's order book post June 2024 is encouraging. Order successes announced since June total over £2.5m across QRO, Affini and Rail.
SEEEN 2.6p £3.1m (SEEN.L)
The global media and technology platform announced its Interim Results for the six months ended 30 June 2024. Total Group revenues of $1.1m in line with previous year (1H23: $1.1m), but a 19% increase on 2H23 revenues, reflecting new customer additions across all business lines, as well as cross-selling of SEEEN's offerings. There is net cash of £0.9m after June’s fundraising in June at 3p with 1 for 1 warrant at 4.5p and the Board believes there is sufficient resources to reach profitability by executing on its sales strategy.
Vox Valor Capital * 0.2p £4.7m (VOX.L)
The Company that focuses on making acquisitions of majority stakes in the marketing technology, digital content, mobile games/apps, and digital marketing sector announced its unaudited interim financial statements for the six months ended 30 June 2024. Revenue increased to £5.63m (H1 2023: £1.80m), loss before tax increased to £213k (H1 2023: £124k) and cash at bank was £70k (H1 2023: £144k). Looking forward to the current global situation, the continuing elevated interest rates and inflation rates tend to have an adverse impact on the price of services provided. The Board remains cautiously optimistic and continues to evaluate opportunities for generating value for shareholders.
Zinc Media Group 67p £15.3m (ZIN.L)
The television and content production group announced its unaudited interim results for the six months to 30 June 2024. Group revenue decreased to £14.1m (H1 2023: £17.7m), Adjusted EBITDA loss of £0.9m (H1 2023: profit of £0.6m) and Cash of £4.1m at 30 June 2024 (December 2023: £4.9m) remains robust and provides the Group with sufficient working capital. With a healthy pipeline, the Group therefore remains confident of delivering further organic growth and profitability in the periods ahead.
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