MrC's Smallcap Sweeps for Apr 2023
Posted: April 3rd, 2023, 8:10 am
Smallcap Sweep. 03-Apr-23
Bear necessities
Cineworld (CINE) conditional agreement with lenders for restructuring. Nil for shareholders. [SP=3 Cap=39m]
Redx Pharma (REDX) mooted merger with Jounce formally lapsed. [SP=32 Cap=104m]
WANdisco (WAND) CEO and CFO resign. The independent investigation has confirmed that orders of $14.9m for FY22 are false and sales bookings of $115.5m recorded in FY22 are also false. [SP=1310 Cap=884m]
CyanConnode (CYAN) MoU with Alfanar, a leading engineering, procurement, and construction co, "to explore joint investment opportunities in Advanced Metering Infrastructure projects." [SP=16.65 Cap=45m]
Provexis (PXS) update on attempt to sell excess Fruitflow stock. Still expects to need equity finance or loan finance in the coming months. [SP=0.86 Cap=18m]
WH Ireland (WHI) warns FY-Mar rev only c.£26m and U/L pretax loss over £2.2m. Blames lack of transactional activity across Capital Markets. [SP=19.9 Cap=12m]
Intercede (IGP) majority of contract opportunities have been closed and several support and maintenance contracts renewed before YE (Mar). Total $6m, which will be recognised from FY24 onwards. [SP=59 Cap=34m]
Tekmar (TGP) £7.3m placing and £1m Retail Offer at 9p, a 6% premium. [SP=9 Cap=5m]
Industrials REIT (MLI) final possible cash offer of 168p, a 42% premium. Board intends to recommend it. [SP=118 Cap=7783m]
Surface Transforms (SCE) reported production problem solved but Jan-Feb volumes wer lower and scrap costs higher than planned. Warns FY23 profit below market expectations. Still has enough cash. [SP=29.5 Cap=73m]
EnSilica (ENSI) $2.4m contract with an existing customer, spanning this and next FY. [SP=72.5 Cap=56m]
Filtronic (FTC) $0.8m contract, expected to be recognised in FY24. [SP=11.87 Cap=26m]
D4t4 Solutions (D4T4) warns FY-Mar rev c.£21.5m (£24.5m) and adj pretax c.£3.5m (£3.3m). Blames delays in signing of a project with an existing banking customer. [SP=165 Cap=66m]
Saietta (SED) c.£5m order for 3,000 eDrive units from existing US customer, AYRO. Production starts in Q3. Final batch scheduled for delivery in Q4 2024. [SP=43 Cap=44m]
Chill Brands (CHLL) £1m placing at 4p (10% discount) and £1.6m convertible at 12%, 8p strike. Both are from a high net worth investor. CEO trills "We are thrilled to have secured funding..." I bet you are. [SP=4.5 Cap=12m]
Zinc Media (ZIN) £7.3m multi-series win (136 hours of Bargain Loving Brits) with £5m expected to be recognised in 2023. That's only £54k per hour. [SP=85 Cap=19m]
Numis (NUM) guides H1-Mar rev c.£64m, down 14%, "despite weaker overall investment banking markets". Institutional income and trading businesses experiencing a weaker end to H1. Warns "unlikely that the IPO market will see any meaningful pick-up during the remainder of our financial year".# [SP=216 Cap=238m]
Litigation Capital Management (LIT) receives £22m profit in realisation of a case. [SP=71.6 Cap=84m]
SRT Marine Systems (SRT) new distributor in US. [SP=42 Cap=76m]
In line: PEEL
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
RNSs
http://www.investegate.co.uk/index.aspx?limit=-1
@MrContrarian
Bear necessities
Cineworld (CINE) conditional agreement with lenders for restructuring. Nil for shareholders. [SP=3 Cap=39m]
Redx Pharma (REDX) mooted merger with Jounce formally lapsed. [SP=32 Cap=104m]
WANdisco (WAND) CEO and CFO resign. The independent investigation has confirmed that orders of $14.9m for FY22 are false and sales bookings of $115.5m recorded in FY22 are also false. [SP=1310 Cap=884m]
CyanConnode (CYAN) MoU with Alfanar, a leading engineering, procurement, and construction co, "to explore joint investment opportunities in Advanced Metering Infrastructure projects." [SP=16.65 Cap=45m]
Provexis (PXS) update on attempt to sell excess Fruitflow stock. Still expects to need equity finance or loan finance in the coming months. [SP=0.86 Cap=18m]
WH Ireland (WHI) warns FY-Mar rev only c.£26m and U/L pretax loss over £2.2m. Blames lack of transactional activity across Capital Markets. [SP=19.9 Cap=12m]
Intercede (IGP) majority of contract opportunities have been closed and several support and maintenance contracts renewed before YE (Mar). Total $6m, which will be recognised from FY24 onwards. [SP=59 Cap=34m]
Tekmar (TGP) £7.3m placing and £1m Retail Offer at 9p, a 6% premium. [SP=9 Cap=5m]
Industrials REIT (MLI) final possible cash offer of 168p, a 42% premium. Board intends to recommend it. [SP=118 Cap=7783m]
Surface Transforms (SCE) reported production problem solved but Jan-Feb volumes wer lower and scrap costs higher than planned. Warns FY23 profit below market expectations. Still has enough cash. [SP=29.5 Cap=73m]
EnSilica (ENSI) $2.4m contract with an existing customer, spanning this and next FY. [SP=72.5 Cap=56m]
Filtronic (FTC) $0.8m contract, expected to be recognised in FY24. [SP=11.87 Cap=26m]
D4t4 Solutions (D4T4) warns FY-Mar rev c.£21.5m (£24.5m) and adj pretax c.£3.5m (£3.3m). Blames delays in signing of a project with an existing banking customer. [SP=165 Cap=66m]
Saietta (SED) c.£5m order for 3,000 eDrive units from existing US customer, AYRO. Production starts in Q3. Final batch scheduled for delivery in Q4 2024. [SP=43 Cap=44m]
Chill Brands (CHLL) £1m placing at 4p (10% discount) and £1.6m convertible at 12%, 8p strike. Both are from a high net worth investor. CEO trills "We are thrilled to have secured funding..." I bet you are. [SP=4.5 Cap=12m]
Zinc Media (ZIN) £7.3m multi-series win (136 hours of Bargain Loving Brits) with £5m expected to be recognised in 2023. That's only £54k per hour. [SP=85 Cap=19m]
Numis (NUM) guides H1-Mar rev c.£64m, down 14%, "despite weaker overall investment banking markets". Institutional income and trading businesses experiencing a weaker end to H1. Warns "unlikely that the IPO market will see any meaningful pick-up during the remainder of our financial year".# [SP=216 Cap=238m]
Litigation Capital Management (LIT) receives £22m profit in realisation of a case. [SP=71.6 Cap=84m]
SRT Marine Systems (SRT) new distributor in US. [SP=42 Cap=76m]
In line: PEEL
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.
RNSs
http://www.investegate.co.uk/index.aspx?limit=-1
@MrContrarian