(MENAFN- ProactiveInvestors) AN. Prelims APC agreement BOOM sales partnerships CLG acquisition COS supply agreement CGNR antimony at Clontibret CHRT unaudited results FIPP final results FITB placing LBB CLNs MARL commences drilling Turkey MSMN makes bid MYT bond MXO bid rounds opening up in Mexico OPTI research ethics approval SND acquisition
The Hybridan Small Cap Wrap is a weekly review of some of the most interesting small cap stories of the past week. Our review will usually be of those companies whose market capitalisations are less than £50m although we may occasionally cover larger companies.
(LON:AN)
The leading provider of IT solutions and business-to-business communications to UK businesses from device to data centre reports it Preliminary Results for the twelve months ended 30th September 2014. enjoyed a successful year with growth in revenues reported to be up 20 per cent to £137.8m (2013: £114.3m) and adjusted operating profit increased by 17 per cent to £17.59m (2013: £15.00m). Adjusted earnings per share were up by 9 per cent to 26.9p (2013: 24.7p). Cash generations continued to be strong resulting in net cash generated from operations increasing to £16.2m (2013: £14.4m). The recommended dividend increased by 12 per cent to 14.5p per share. Strong revenue performance was recorded in Advanced Solutions and Mobile business solutions similarly during the period; strong performance was reported in acquired businesses with ControlCircle revenue up by 10 per cent on the equivalent period last year since acquisition as well as Intercept IT revenue up by 18 per cent on the equivalent period last year since acquisition.
APC Technology Group ()
APC Technology Group a supplier and installer of Cleantech related energy efficiency devices and a specialist electronic component distributor has announced that it has entered into an agreement with PLC whereby APC will act as 's exclusive UK distributor and sales representative for its Broadband business for non-telecommunication markets. Broadband is an established world leading designer and manufacturer of microwave & millimetre-wave products for commercial telecom security and defence applications as well as providing contract manufacturing at its state of the art highly automated UK facility. APC will promote Broadband through its specialist RF and Microwave team APC-Novacom (a renowned specialist in the Military Defence Commercial and Medical application markets).
Group ()
the digital social media platform that works with some of the biggest names in sports media and major broadcasters allows its partners to bring their content to millions of fans worldwide via embeddable players mobile applications & has announced it has signed two major media sales partnerships with Global Radio (UK) and AdLarge Media (US). has entered into an exclusive media sales partnership with Global Radio which has its inventory being featured on the new DAX (Digital Advertising Exchange) platform allowing media buyers a single purchasing point for Audio on Demand advertising. has also signed a non-exclusive partner agreement with AdLarge Media the fastest growing independent audio advertising sales company in America aiming to connect national advertisers with consumers on nationally distributed Audio on Demand inventory via digital and mobile platforms. The agreement with AdLarge Media will see them directly representing ’s entire inventory across all content genres. Indeed the first campaign has already been booked after only one day of the companies working together.
Clipper Logistics (LON:CLG)
Clipper Logistics leading provider of value-added logistics solutions and e-fulfilment to the retail sector in the United Kingdom with an expanding business in Germany and employs over 2500 people announced the acquisitions of the entire issued share capital of Servicecare Support Service Ltd a specialist provider of returns logistics services to consumer electronics manufacturers and retailers with centres of operation in Oldham and Barton United Kingdom for a cash consideration of £5.7m. Clipper launched its “Boomerang” brand on 30th April 2014 to focus on the increasing requirement for returns management services by the clothing and non-electrical general merchandise sectors. Trading since 1995 and employing around 150 people Servicecare’s financial performance for the year 30th September 2014 showed unaudited profit before tax increased by 20 per cent to £1.2m (2013: £1.0m). The consideration is funded by Clipper’s existing cash and bank facilities. Of the total cash consideration £3.7m is payable on completion £1.0m after six months after completion and £1.0m after 12 months after completion. Managing Director of Servicecare Dave Aspin will continue his role while CEO Jerry Day and Business Development Director Gary Furness will remain with the company for 12 months in a consulting capacity.
Cohort ()
Cohort the independent technology group announced its unaudited results for the six months ended 31 October 2014. Highlights include operating profit up by 34 per cent at £2.5m (2013:£1.8m) and revenue is up by 13 per cent to £37.6m (2013:£33.2m). In addition to this the acquisitions of a majority of Marlborough Communications Ltd (MCL) and the J+S Ltd completed in period adding £38m to the Group’s order book. Moreover the order intake of £64.5m (2013: £35.7m) is up 80 per cent. There was a strong closing order book of £146.6m (30 April 2014: £16.3m) after a net acquisition spend of £16.6m. There were net funds of £6.7m after a net acquisition spend of £16.6m. Additionally interim dividend increased by 14 per cent to 1.6p per share (2013:1.4p per share). In addition earnings per share are 39 per cent higher at 5.50p (2013: 3.97p). Looking forward £44.1m of 31 October 2014 order book is deliverable in the second half and when added to the recently announced orders of 8 December 2014 underpin 88 per cent of the consensus forecast revenue for the full year. Prospects for the further order intake in the second half across the group are encouraging.
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the developer and manufacturer of medical grade collagen components for use in regenerative medicine medical devices and in-vitro diagnostics announces that its subsidiary (UK) Limited has signed an agreement with KYERON Medical Innovations (KYERON) to develop and supply fibrous collagen powder for the manufacture of a wound management device. is committed to providing the highest quality medical grade biomaterials to support medical devices and other products for regenerative medicine across a wide range of applications and clinical indications. will use its expanded development capability in the UK US and New Zealand to develop a specific grade of fibrous collagen powder which KYERON will then formulate into a product for commercialisation in the growing wound management market. KYERON was formed in 2007 and is a private Dutch biomaterials company based in Enschede the Netherlands specialising in developing solutions to medical needs. Its products use the innovative biomaterial knowledge of the Company to produce a range of products for various orthopaedic neurosurgical and periodontal tissue grafting procedures.
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the gold exploration and mine development company focused on Ireland and Finland is pleased to announce positive results from an Independent Structural Study undertaken at its Slieve Glah target in County Cavan Ireland. The study showed that the gold mineralisation at Slieve Glah is associated with a major geological structure the Orlock Bridge Fault. It highlighted the potential for a concentration of gold mineralised faults and of gold target zones within the gold-in-soil anomalies defined by the Company which are approximately 3 km (1.8 miles) in length. Conroy separately announced plans for antimony to be mined at Clontibret in addition to gold. Antimony is specified by the European Commission as a critical raw material and a large supply deficit is also forecast by the European Commission. The product is used primarily in the production of flame retardants. Metallurgical testwork has revealed that potentially economic quantities of antimony may occur in the gold bearing concentrate at Clontibret following flotation. Work has been conducted to identify flow sheet options to allow for the extraction of the antimony from the gold bearing concentrate. Several process options have been identified and future metallurgical testwork will include testing these options and optimising extraction to provide a saleable antimony product.
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the AIM quoted provider of online personal health and wellbeing services is pleased to announce that it has raised £3510200 (before expenses) by way of a placing at 9 pence per share. The funds raised will be predominantly used to scale up the sales and marketing push for both the Orb and the Kiqplan sides to the business to meet fast growing demand for wearable technology and complementary products. The marketing drive will begin immediately with the Company attending the Consumer Electronics Show (CES) in January and activating various marketing campaigns. Part of the funds raised will be used to develop further Kiqplan programs and Fitbug aims to build out the Kiqplan library by two plans per month.
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Frontier IP a specialist in the commercialisation of Intellectual Property by establishing partnerships with individual universities and research institutions to assist with their spin-out licensing activities and help maximise the commercial values of technologies emerging from their research programmes has announced its audited final results for the year ended 30 June 2014. Total revenue increased to £786000 (2013: £174000) which reflected an unrealised profit on the revaluation of investments of £608000 (2013: unrealised loss of £57000). Profit before tax was £27000 (2013: loss of £368000) along with profit per share of 0.13p (2013: loss of 3.51p) and cash balances at year end was £587000 (2013: £155000). Along with the financials two new portfolio companies were added Nandi Proteins Limited secured funding and first spin-out from University of Cambridge as well as two placings during the year raising £1142000 (gross). The board remains encouraged about prospects for further progress with portfolio companies and partnerships.
Ltd ()
a designer manufacturer and distributor of innovative brands and products to the global retail market offering a wide range of products in thirty countries through blue chip retailers has recently announced that £3.5m secured convertible loan notes have been issued on the Channel Islands Securities Exchange Authority Limited and the acquisition of Concept Merchandise Limited for an initial consideration of £5.0m satisfied by £4.75m in cash and £0.25 in ordinary shares. Concept designs develops and manufactures stationery and party products for the retail market and has been creating bespoke consumer products for some of the largest retailers in the UK for more than 24 years. It has a favourable record of earnings growth is highly cash generative and debt free. For the last six years it has been profitable and recorded turnover of £7.5m and profits before tax of £1.1m for year ended 31 December 2013. Concept is expected to have a net asset position of over £3.8m on completion mainly in liquid assets. The acquisition is expected to enhance the Group’s sales over the next 12 months and have a positive effect on earnings.
LTD ()
Ltd the AIM listed exploration and development Company with projects in South America announced that drilling has commenced on the Hot Maden Gold‐copper project in Turkey. This project is subject to a signed arrangement agreement whereby Mariana will acquire all of the issued and outstanding common shares of Aegean Metals Group Inc as previously announced on 18 September 2014 and 5 November 2014. The drilling at the Hot Maden gold‐copper project in Artvin Province eastern Turkey is being performed and fully funded by JV partner Lidya Madencilik Sanayi ve Ticaret A.S. The initial drill program at Hot Maden will focus on the evaluation of approximately 800 m of strike extent of the Hot Maden Target Area.
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an Australia and New Zealand focused oil exploration and development company with a strategy to build a sustainable mid-tier oil and gas business by acquisition and organic growth announced a takeover proposal to acquire 100 per cent of the fully paid ordinary shares in Limited. Mosman proposes to offer MEO shareholders 1 AIM traded fully paid ordinary share in Mosman for every 20 ASX listed fully paid ordinary shares in MEO. Listed on the ASX in 1988 MEO has a diversified portfolio of petroleum exploration and development permits as well as production in New Zealand and is currently subject to a merger proposal with ASX listed company Neon Energy Limited.
Limited ()
the India-based independent power producer focused on deliver sustainable energy in a world without subsidies announced that its recently issued INR 3977m corporate bond began trading on the Bombay Stock Exchange (BSE) on 1 December 2014. The bond is part of a $70m financing package which involves INR 3977m India-listed non-convertible bond issued by (India) Ltd. and a $5m loan to Ltd. The new finance will be used primarily to refinance an existing INR 900m mezzanine facility and for development of new wind power projects. The company also reports the expectation of EBITDA to be around $65m in the current financial year and that good progress is being made towards financial close on a number of new projects.
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the AIM quoted oil and gas investment Company focused on the re-opening Mexican energy sector notes the Mexican upstream oil regulator CNH this week approved rules for the first part of Bid Round 1 specifically the shallow-water exploratory blocks. According to CNH data room access will be available to those that pre-qualify for shallow water assets in January with the successful bidders being granted up to five years to develop an exploration plan. It is expected that the onshore blocks in which is primarily focused will have terms conditions and pre-qualification criteria released in Q1 2015. Setting these guidelines is the latest step in Mexico's move to allow foreign companies to own and produce oil ending a 76-year-old state monopoly. In addition to the Bid Round 1 blocks being made available there are also existing fields operated by Pemex the state-owned national oil company which are also available via farm out agreement and are a key area of focus for .
OptiBiotix Health (LON:OPTI)
OptiBiotix Health a life sciences business developing compounds and products to tackle lifestyle diseases such as obesity hypercholesterolemia and diabetes announced that its weight management yoghurt was showcased at the Health Ingredients Europe conference from 2nd – 4th December 2014. The weight management yoghurt brings together the joint expertise of OptiBiotix Health and Nizo Food Research a highly developed independent contract research companies in the world that facilitates with small and international food and ingredient companies to expand and manufacture innovative products for the industry. The formulation of the weight management yoghurt is created by specialists in how microbes harvest energy in the gut satiation and metabolism for OptiBiotix Health. Nizo Food Research specialises in the production of dairy products and using taste and texture to develop satiation. OptiBiotix also announced the successful completion of local research ethics approval and early recruitment for human studies on its capsular food supplement to reduce cholesterol. As announced last month OptiBiotix contracted the University of Reading to undertake human studies on 50 subjects who have high cholesterol and its associated increased risk of cardiovascular disease (CVD). The aim of the study is to establish the extent of the cholesterol lowering potential of its product. All testing on human subjects requires a local research ethics committee to consider the principles of proposed research and to protect the rights safety dignity and well-being of research participants. The University of Reading has successfully achieved this important milestone and subject to external verification this allows commencement of the human studies in January 2015.
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the leading provider in software and IT service specialising in multi-channel retail and manufacturing markets in the UK and Ireland announced the completion of acquiring Proteus Software Limited for a maximum consideration of £1.9m. Proteus a provider of warehouse management solutions to business operating in the areas of third party logistics warehouse management and supply chain distribution has reported audited revenue of £1.98m but a loss before taxation of £3000 for the year ended 30 September 2014.
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