Breakfast News – Urban Logistics REIT, Alba Mineral Resources, Ixico and more…

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Small Cap Feast – 21 September 2020

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What’s Cooking In The IPO Kitchen?

Wheaton Precious Metals (TSE:WPM) – Proposed secondary listing on bringing one of the world’s largest precious metal streaming companies to the London Stock Exchange. Due Q 2020

AB Ignitis grupe–leading utility and renewable energy company in the Baltic region. Admission of its Shares to the Main Trading List of Nasdaq Vilnius and admission of its GDRs to the Official List of the FCA. Offer Price Range corresponds to a market capitalisation of approximately EUR1,691.7 – EUR2,105.2 million. Due 7 Oct.

Calnex, an established provider of test and measurement solutions for the global telecommunications sector, will raise a total of GBP22.5 million (before expenses), comprising GBP6.0 million for the Company and GBP16.5 million for existing shareholders . Due 5 October 2020, under the ticker CLX. Based on the Placing Price, the market capitalisation of the Company will be GBP42.0 million on Admission.

Various Eateries to float on AIM. Admission is expected to take place end of September/early October 2020. The Company intends to raise up to GBP25 million by way of a placing . Established platform business operating two core brands, Coppa Club & Tavolino, both positioned to benefit from the post-Covid environment. The Directors believe site availability, acquisition opportunities, reduced competition, availability of talent and changes in consumer behaviour provide opportunities to accelerate the Group’s growth .

Mode Global Holdings to join LSE (standard). Mode is a UK-based Fintech Group, building a modern financial services business to support an increasingly digitised economy and financial system, combining the best of banking, payments, investment, loyalty and digital assets. Targeting GBP7.5m raise.

Guild Esports a UK-based owner and developer of esports teams, has announced its intention to seek a listing of its ordinary shares to the Standard Listing segment of the London Stock Exchange this autumn. its founding shareholders include David Beckham, former football player and captain of England, and now co-owner of new MLS team Inter Miami CF.

HOME REIT intends to float to the Main Market raising up to GBP250m. The Company will seek to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by investing in a diversified portfolio of assets across the UK which will be dedicated to providing accommodation to the homeless. Due Mid October

Sativa Wellness Group–(Canadian Securities Exchange: STIL) renamed from Stillcanna Inc following the conditional acquisition of Sativa Group (AQSE:SATI) to list on the AQUIS Exchange. A fully integrated European seed to consumer CBD group with the pricing, products, and stability to meet the CBD market demand in the medium term. With world-class extraction and formulation experts, an agricultural team that has over 20 years’ experience farming hemp, along with laboratory testing capabilities, the group has established itself globally as a trusted source of high-grade, premium wholesale CBD brands and products.

Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List

Kibo Energy PLC, the multi-asset Africa focused energy company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc . Targeted for Q4 2020. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times.

Breakfast Buffet

Urban Logistics REIT 142p GBP268m (LON:SHED)

The specialist UK Logistics REIT, announces a proposed Placing to raise c. GBP100 million and a Retail Open Offer and Institutional Offer to raise up to c.GBP30 million . The Company intends to use the net proceeds of the Issue to acquire an identified pipeline of high-quality logistics properties that meet the Company’s investment objectives and investing policy identified by Pacific Capital Partners Limited, the Company’s investment manager .

Alba Mineral Resources 0.37p GBP19.2m (LON:ALBA)

Alba has raised GBP1.3m at 0.275p. The proceeds from the Placing will be used to accelerate value-enhancing activities across the Company’s project portfolio including the following activities:

– At Clogau, a surface drilling programme for up to 5000 metres targeting extensions to the existing workings, one of the most ambitious exploration programmes in the mine’s history, phase 1 of which the Company is targeting for an October 2020 start date.

– At Thule Black Sands (TBS), preparations for the 2021 drilling programme to substantially increase the JORC resource and the commissioning of a testwork programme in respect of the Company’s existing bulk sample to confirm the products to be produced from TBS ilmenite; and

– At Amitsoq, preparations for the 2021 drilling programme to define a maiden JORC resource and the commissioning of a testwork programme aimed at the production of a high-purity graphite product for the battery metals sector.

Ixico 82p GBP38.6m (LON:IXI)

The data analytics company delivering insights in neuroscience, announces that is has been selected by the Global Alzheimer’s Platform Foundation(R) (GAP) to support GAP’s planned Bio-Hermes trial. IXICO will apply its expertise to collect Positron Emission Tomography (PET) brain scans in qualifying imaging centres participating in Bio-Hermes and provide analysis of the scans.

Bio-Hermes’ core purpose is development of a bio-sample database to investigate biomarkers on a head-to-head basis in conjunction with medical history elements. The Bio-Hermes trial will include 1,000 volunteers over the age of 60 screened for Preclinical Alzheimer’s Disease, Prodromal AD, or Mild Dementia AD. Observational biomarker studies consistently suggest that amyloid deposition and tau deposition in neurofibrillary tangles in the brain may be the sentinel events in Alzheimer’s Disease pathology. In the Bio-Hermes trial, Avid Pharmaceuticals’ Amyvid(TM) will be used as the radioactive diagnostic agent to estimate ?-amyloid neuritic plaque density.

This contract does not have significant impact on management’s expectations of performance for the year, but will contribute to the Company’s already strong year end order book.

Escape Hunt 7.75p GBP6.2m (LON:ESC)

Escape Hunt, a global leader in the growing escape rooms sector, is pleased to announce progress at its next three UK-owner operated sites.

The Company’s tenth UK owner-operated site operating under the ‘Escape Hunt’ brand, will officially open in Norwich this week. The site will be open to the public from 23 September 2020, having opened for bookings on 10 September 2020. The site has six games rooms which include an instance of Escape Hunt’s newest Doctor Who themed game, ‘A Dalek Awakens’ as well as a room which will be used for virtual reality games. Outdoor games will also be available.

Work at the Company’s eleventh site in Basingstoke is substantially complete with opening planned for October 2020. Basingstoke will similarly have six rooms, including virtual reality and ‘A Dalek Awakens’. Outdoor games will also be available.

Escape Hunt is also pleased to announce that it has completed contracts for a twelfth site at the Brewery Quarter in Cheltenham. Games for the site have been manufactured and delivered and fit-out will commence shortly. Cheltenham will have five games rooms and will also offer outdoor experiences.

Billington Holdings 320p GBP41m (LON:BILN)

One of the UK’s leading structural steel and construction safety solutions specialists, announced that its structural steel division, Billington Structures, has recently been awarded three contracts with a combined value of GBP21 million. One of these three contracts have been secured with a global multi-national corporation for a value of GBP12 million.

The three contracts are respectively within the power, manufacturing and commercial office sectors and are currently scheduled to be delivered in Q4 2020 and throughout 2021.

Beximco 55p GBP233m (LON:BXP)

The fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, today announces it has received US Food and Drug Administration (FDA) approval for Flecainide Acetate (50, 100 and 150 mg tablets), an antiarrythmic drug used for treating irregular heartbeats in conditions such as tachycardia and artrial fibrillation.

This is Beximco Pharma’s eighth Abbreviated New Drug Application (ANDA) successfully approved for the US market since the Company’s oral solid dosage facility was approved by the US FDA in June 2015. The Company expects to launch the product through its US distribution partner in due course.

Flecainide Acetate is the generic equivalent to 3M Pharmaceuticals’ Tambocor (R) (50, 100 and 150 mg tablets). According to IQVIA audited market data, the total addressable market for Flecainide Acetate is approximately US$50 million (Moving Annual Total, June 2020).

Knights Group 478p GBP392m (LON:KGH)

AGM update from the legal and professional services businesses . “In the current financial year, the Board is pleased to report an encouraging recovery following the initial disruption from COVID-19. As previously reported, the Group experienced a circa 20% decline in new business in the early weeks of the current financial year. However, the level of instructions has steadily improved through July / August and into September. The Group is currently operating at a run rate equivalent to a circa 10% decline in new business compared to pre-COVID 19 levels and the Board expects this ongoing improvement to continue over the remainder of the year. “

“The recruitment of senior fee earners has continued to show strong momentum with 23 partners having already joined or accepted positions to join in the current financial year. We are also pleased to confirm that our recent acquisitions have been integrated ahead of schedule and are all performing well.”

Driver Group 51p GBP26.6m (LON:DRV)

The global professional services consultancy to the construction and engineering industries, today announces that it has concluded a strategic partnership with Africa’s leading claims and dispute resolution consultancy, EVRA Consulting (PTY) Ltd (“EVRA”), headquartered in Johannesburg. The partnership combines the services and skill sets of Driver Group’s Diales experts with EVRA’s relationships and network to bring the benefits of Expert commissions to clients across the African continent.

Driver also announces the strengthening of its Middle East presence with the appointment in Dubai of David Merritt, a well-known Quantum Expert with over 35 years’ experience in the construction and engineering sectors.

Falcon Oil & Gasp 7.6p GBP75m (LON:FOG)

Operations have recommenced at Kyalla 117 N2-1H ST2 (“Kyalla 117 well”) with the fracture stimulation of the well, extended production testing to follow. Initial production test results are expected during Q4 2020 with final results expected by the end of Q1 2021. These results will inform the decision to either further evaluate this liquids-rich gas play or commence activities in the Velkerri liquids-rich gas play.


The mining exploration company with a focus on Rare Earth Element (“REE”) mining projects in Africa, is pleased to announce it has signed non-binding Heads of Agreement with Leadway Group Ltd to acquire a 70% legal and beneficial interest in a greenfield mining project in Uganda, known as the Nankoma Rare Earth Project (“Nankoma”) (tenement TN03385).

The tenement covers an area of 67.5 km2 and is located approx. 50 km east of Jinja, which lies 130 km east of Kampala in Eastern Uganda.

Should a binding agreement be entered into, Altona will be responsible for 100% of the agreed budgeted costs to complete a Feasibility Study on the establishment of commercial scale REE mining and processing operations at the project site. Altona will also be the manager and operator of the project.

Head Chef:

Derren Nathan

0203 764 2344
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