Small Cap Wrap – Best of the Best, FRP Advisory Group, Pebble Group and more…

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Banquet Buffet

Best of the Best 1675p GBP157m (LON:BOTB)

AGM Statement. Trading for the year to date has been stronger than expected at the time of the Company’s final results (as announced on 15 June 2020). The momentum that built through the previous financial year has been maintained, resulting in a strong performance for the first four months of the new financial year and is expected to continue. This leads the Board now to expect both revenue and profits for the full year ended 30 April 2021 to be ahead of previous management expectations. As previously announced, the Company launched a new additional ‘Midweek’ car competition in May, alongside it’s existing Dream Car and Lifestyle competitions. This, in combination with sustained investment in marketing and customer acquisition has delivered increased customer activity and a broader customer base. The Company also continues to reap the benefits of it’s transformation to a wholly online operation. The Formal Sales Process continues,

Plus500 1469p GBP1.5bn (LON:PLUS)

The technology platform for trading Contracts for Difference (“CFDs”) internationally, issued a trading update ahead of today’s AGM, which is taking place at 10.00am BST.

The operational momentum achieved during H1 2020 has continued into the second half to date, with Plus500 making excellent progress across all key commercial and financial performance metrics. This performance has been primarily driven by the strength and differentiation of the Company’s proprietary technology.

Revenue, in particular Customer Income, has remained strong in H2 2020 to date, supported by further growth in the Company’s Active Customer base. The Company has also on-boarded a high level of new customers so far in the second half, driven by continued investment in its marketing technology, rapid response to market events and attractiveness of the Group’s market-leading mobile and tablet offering.

FRP Advisory Group 122p GBP290.9m (LON:FRP)

FRP Advisory Group plc, a leading UK professional services firm specialising in restructuring advice, announced the acquisition of the JDC Group. Consideration compromises cash, founder deferred consideration and the issue of new ordinary shares for a total of GBP5.3 million plus a further payment contingent on the net assets of the JDC Group at completion of the transaction.

JDC Group is based in the Eastern region and comprises the operating businesses of JDC Corporate Finance and Walton Dodge Forensic. The JDC Group was founded in 2004 and is the leading specialist corporate finance and forensic services firm in the East of England. It is headquartered in Norwich with offices in Chelmsford and London. The firm’s 4 Directors (Jon Dodge, Dave Howes, Chris Adlam and Fiona Hotston Moore) will join FRP as Partners along with all staff, including 10 further fee earners.

For the year to 31 March 2020, JDC Group unaudited revenues were GBP3.1 million and unaudited adjusted EBITDA was GBP1.2 million.

Pebble Group 87.5p GBP146.5m (LON:PEBB)

The provider of technology, services and products to the global promotional products industry, announces its results for the half year ended 30 June 2020. In H1 2020, Group revenue was GBP33.6m (H1 2019: GBP48.1m), generating adjusted EBITDA of GBP2.6m (H1 2019: GBP5.3m). Brand Addition’s revenue reduced to GBP28.5m (H1 2019: GBP43.6m), primarily due to the impact on order demand within its Corporate Programme business, as lockdown restrictions severely affected clients’ normal operations. Cost saving initiatives were implemented in the business which mitigated the impact on its profit, resulting in adjusted EBITDA of GBP0.4m (H1 2019: GBP3.3m). Facilisgroup performed strongly, proving its ability to deliver growth in revenue and profit in the most challenging market conditions. Revenue increased to GBP5.1m (H1 2019: GBP4.6m) and its ability to efficiently translate revenue into profits continued, with return on sales at 58% (H1 2019: 53%) and adjusted EBITDA of GBP2.9m (H1 2019: GBP2.4m).

“Whilst we do not expect a significant return of conferences or events until at least H2 2021, the current sales trend and the contracted, long-term nature of our client relationships give us confidence in the re-emergence of sales demand through 2021, where we are targeting a return towards 2019 levels.”

Futura Medical 16.75p GBP41.1m (LON:FUM)

HY June 20 Resultso

MED3000 – a topical treatment for Erectile Dysfunction: In February 2020 Futura commenced formal proceedings for MED3000 to be approved as a medical device and clinically proven treatment for ED in Europe by an EU Notified Body.

. The European regulatory process for MED3000 remains on track with the company targeting a 2021 European approval date.

Post period–Meeting set for the third pre-submission meeting with the FDA before the end of October.

Significant progress also reported on TPR100 – Topical non-steroidal anti-inflammatory for the pain and inflammation associated with sprains, strains and bruises and soft tissue rheumatism and CBD100 – Futura’s advanced proprietary DermaSys(R) formulation for transdermal delivery of Cannabidiol.

o GBP1.06 million net loss in the period (30 June 2019: net loss 4.46 million).

o In May 2020, the company received R&D tax credits of GBP2.22 million from HMRC with respect to the year ending 2019.

o Cash resources of 2.62 million at 30 June 2020 (30 June 2019: 5.63 million).

o The company continues to have sufficient cash resources through to Q2 2021 under current plans.

Global Petroleum 0.95p GBP1.93m (LON:GBP)

GBP1.4m raise at 0.75p. Proceeds from the Placing and Subscription will provide in full the funds needed for the work commitments (firm and contingent) in PEL 0029 during the remaining period of the Licence, and in PEL 0094 for the forthcoming exploration period to September 2021.

On 20 July 2020 Global announced an updated estimate of prospective resources for its licence PEL 0094, following its interpretation of the historic 3D seismic data over Block 2011A, which amounted to 687 MMbbl unrisked best estimate net prospective resources. It is the Company’s intention to seek a farm-in partner for exploration drilling on PEL 0094, and potentially also to progress the work programme over the PEL 0029 area.

AEX Gold 45.5p GBP37.6m (LON:AEXG)

Update on its 2020 Summer Field Activities since mobilization in South Greenland on August 15th, 2020. . High-resolution aerial imagery drone has identified an outcropping Footwall Vein which lies an estimated 70-100 meters stratigraphically below the Main Vein on the north face of Nalunaq mountain. Historically, two drill holes have intersected a mineralised quartz vein at that level .

. AEX has so far drilled five holes at Nalunaq, for a cumulative 1,200 metres of drilling this field season. The first samples have been dispatched for assaying and the results of this will be announced once received

. GoldSpot Discovery Corp. has generated a preliminary list of additional targets for the wider regional exploration asset portfolio. These targets will be visited and prospected by our geologists in September 2020.

Igas Energy 12.65p GBP15.6m (LON:IGAS)

Agreement to acquire GT Energy UK Limited (“GT Energy”), a developer of deep geothermal heat projects onshore in the UK. The acquisition is in line with IGas’s strategy of diversifying into the wider UK energy market whilst leveraging its core competencies as an UK onshore operator. Under the terms of the SPA, IGas will make an initial payment of GBP500,000 in shares. The maximum consideration payable to the Sellers under the SPA is GBP12 million and the ordinary shares of IGas which may be issued under the SPA shall not exceed Twenty-Nine Point Nine Per Cent (<=29.9%) of the fully diluted issued ordinary share capital of IGas.

GT Energy’s principal project is a 14MW deep geothermal project in the Etruria Valley, Stoke-on-Trent. The project is anticipated to supply zero carbon heat to the city of Stoke-on-Trent on a long-term ‘take or pay’ contract (“TPA”) with Stoke-on-Trent City Council (“SoTCC”). It is anticipated that the heat will be supplied through the SoTCC owned and operated district heating network, which is undergoing installation.

Immunodiagnostic Systems 240p GBP69.1m (LON:IDH)

The specialty solution provider to the clinical laboratory diagnostic market, announced the launch of four new i-Tracker(R) assays designed to run on its automated IDS-iSYS analyser. These assays were developed by partner Theradiag SA (Theradiag) and address the rapidly growing market of biologics drug monitoring.

The four i-Tracker(R) assays: i-Tracker(R) Infliximab, i-Tracker(R) Anti-Infliximab, i-Tracker(R) Adalimumab and i-Tracker(R) Anti-Adalimumab were previously launched on the ‘i-Track10(R)’ analyser, an instrument manufactured by IDS for Theradiag. In the six months since the Theradiag launch, the assays have undergone validation on the IDS-iSYS analyser and are now available for use on the installed base of IDS-iSYS analysers in Europe and other territories which accept a CE mark accreditation.

Seeing Machines 4.45p GBP149.75m (LON:SEE)

The advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, announced today that its aftermarket driver monitoring technology, Guardian, has gathered over 5 billion kilometres of naturalist driving data, due to its extensive customer list globally.

A leader in driver monitoring technology across Automotive, Fleet/Off-road and Aviation transport sectors, Seeing Machines’ access to this unique set of driving data is fundamental to its success and underpinned by Human Factors research, providing the platform from which the Company’s automotive grade driver monitoring technology has been developed and refined.

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