Small Cap Wrap – Frontier IP Group; 88 Energy Ltd; Oncimmune Holdings and more….

Frontier IP Group (LON:FIPP) 65p £32.9m

 Frontier IP, a specialist in commercialising mental property, has raised its fairness stake in portfolio firm Celerum Confined from 10 for each cent to 33.eight for each cent.


Dish of the day

Unconditional Dealings commence in Calisen () primary mkt top quality., elevating £300m. Mkt cap £1.32bn.

Off the menu

No Leavers Now



What’s cooking in the IPO kitchen?


Intention to float by Gemfields Group. No Capital Increase. At this time shown on JSE. (JMB:GML) at circa £122m.  The Group’s critical creating property, the Kagem emerald mine in Zambia  (believed to be the world’s one major creating emerald mine) and the Montepuez ruby mine in Mozambique (a single of the most significant just lately identified ruby deposits in the entire world), are the two anticipated to have extensive mine-life with possible for enlargement. Also owns the  Faberge brand. Thanks Valentines Day 2020.

Principal Marketplace (Regular List)

The  has announced its intention to list on the Regular Marketplace.  The Blockchain dependent business enterprise, owns patents to a protocol which facilitates dispute resolution dependent upon sensible contract disputes.  Transaction aspects TBC. 

Principal Marketplace (Top quality)

DRI Healthcare—investment firm concentrated on investments in healthcare Royalty Assets  seeking to elevate $350m. Thanks 11 Mar.

Ninety 1 –proposed demerger and general public listing of  Investec’s  world-wide asset management business enterprise on LSE and JSE. 30 Sep 2019 AUM £121bn. Sale of existing shares. Envisioned no cost float of >60%. Thanks sixteen march.

Cabot Square—Closed finished investment fund focussed on different property and asset manager. Searching to elevate £200m.  Will concentrate on investment possibilities that are anticipated to produce an desirable possibility adjusted return and that can also make a favourable ESG influence by focusing on some of the greatest troubles going through societies and economies.  Thanks fourteen Feb.

The Global Sustainable Farmland Revenue Trust will make investments in a diversified portfolio of operational farmland property positioned in key agricultural markets together with the United States, Europe, New Zealand, Australia and specific nations inside of Latin and South The us. Elevating up to $300m.   Thanks 28 February.

Investment firm  is trying to find to elevate up to £200m at an situation rate of 100p for each share by using an IPO.   The firm aims to make investments in a portfolio of quoted Japanese shares with market place capitalisations of up to $1bn.   1st day of dealings anticipated early February.

NEX Trade

Banquet Buffet

Holdings  () 31.5p £19.9m

 The foremost world-wide immunodiagnostics team, today announces its fifty percent calendar year outcomes for the six months finished thirty November 2019.

Biodesix to launch EarlyCDT Lung in US by early March 2020

Assistance contract signed with a significant pharmaceutical team

In late phase talks on various possible provider contracts.

Earnings for the time period was £0.31m. Cash £7.5m

Overall administrative fees had been £5.11m (H1 2018: £2.63m) of which c.£1.3m relates to reshaping the business enterprise (£0.7m relate to the Biodesix and Protagen Diagnostics transactions and £0.6m relates to enhanced team charges) a even more £0.7m relates to the IPF credit rating facility and enhanced patent charges as the Protagen patent estate was integrated.

 The implementation of an ongoing price reduction programme article the time period has sent yearly price cost savings of c.£1.0m, with the sale of the US subsidiary’s laboratory to Biodesix anticipated to contribute even more yearly price cost savings of c.£2.2m.

 R&D charges had been £1.01m.

Fox Marble () 2.25p £5.9m

 The  company concentrated on marble quarrying and processing in Kosovo and the Balkans region announces that it has entered into an settlement with EBA Sh.p.K with the intention to provide processed marble in the sort of tiles, stair treads and window lintels. 


EBA Sh.p.K is a area architect and development business dependent in Kosovo, and the products and solutions are destined for use in development jobs inside of Kosovo. The substance picked for these items is Flora, Alexandrian White and Illirico Bianco. 


The stone will be processed at Fox Marble’s Lipjan manufacturing facility, from existing blocks of Illirico Bianco, Flora and Alexandrian White. The settlement has no bare minimum purchase worth, but pricing is dependent on a bare minimum volume of 2,000 square metres, which the Business expects to source more than the course of this money calendar year.


Frontier IP Group () 65p £32.9m

 Frontier IP, a specialist in commercialising mental property, has raised its fairness stake in portfolio firm Celerum Confined from 10 for each cent to 33.eight for each cent. The improve is in return for an investment of £25,000, converting a prior bank loan of £21,818 into fairness, and for supplying £50,000 well worth of supplemental strategic, business enterprise and fingers-on computer software enhancement expert services. 

Celerum, a spin out from Robert Gordon College (“RGU”), Aberdeen, is establishing novel synthetic intelligence to assistance enterprises enhance the operational effectiveness of logistics and source chains. It also has the possible to  tackle a host of other sophisticated scientific, engineering and industrial troubles. Frontier IP is stepping up its assist for the Business in response to enhanced industry fascination.


Scapa Group () 193.5p £300m

Update on existing investing in advance of its money calendar year-end on 31 March 2020.

Earnings c.£306m, broadly in line with market place anticipations. However, investing financial gain is now anticipated to be somewhere around £28m, significantly down below consensus. Healthcare profits is approximated to be somewhere around £139m, slightly in advance of market place anticipations and bigger than final calendar year regardless of the reduction of the ConvaTec contract. Health care investing financial gain is anticipated to be reduce than consensus, reflecting slower development in lessening charges than anticipated at the time of the interim outcomes. Industrial profits is anticipated to be somewhere around £168m, which is slightly down below market place anticipations but has a substance influence on Group investing financial gain, generally the end result of adverse macroeconomic situations. Scapa is concentrated on demanding execution of the technique as it carries on to improve effectiveness and convert its pipeline of possibilities to enhance gross sales and margin efficiency. Expects the macro natural environment to continue to be challenging in some of the industrial markets in which it operates.

() 601.5p £1.65bnm

AGM Assertion from the language, mental property assist expert services and localization vendors. “The money calendar year finished thirty September 2019 was an superb calendar year for RWS, with all three divisions providing report outcomes, enabling the Group to manage its unparalleled report of sixteen several years of unbroken development in revenues, earnings and dividends because flotation in 2003. This achievement was recognized when RWS was named Business of the Year at the 2019 Goal Awards.”

Latest investing and outlook

“We have ongoing to build on our momentum in the initial handful of months of the 2020 money calendar year, with numerous superb new contract wins, significantly inside of our IP Solutions division, leaving us on course to deliver comprehensive calendar year outcomes in line with the Board’s underlying anticipations, notwithstanding the recent forex headwinds.”


 SolGold () 18.25p £351m

Update on exploration at its one hundred% owned Timbara Job in Southern Ecuador. The project is held in SolGold’s one hundred% owned subsidiary Inexperienced Rock Methods S.A.

Ø The Timbara project is of Jurassic age equivalent to nearby the Fruta del Norte, Mirador and Santa Barbara deposits.

Mineralisation mapped more than a 600m strike duration demonstrates robust gold grades and stays open up in the two directions at Timbara 2. Mineralisation happens inside of an 18m broad northwest trending silicified zone, hosting polymetallic quartz veins. Rock noticed channel sampling confirms the prospectivity of the Timbara 2 zone, with initial rock noticed channel samples returning:

7.7m @ six.63 g/t Au (northern stream outcrops) -2m @ 5.sixteen g/ t Au (southern stream outcrops)

The mineralisation at the southern stream outcrop stays open up at the two finishes.

 Field groups are continuing with clearing to generate supplemental outcrop exposures for even more mapping and sampling.

() 10.5p £4.5m

Results of two several years of impartial baseline environmental information assortment and checking at the Empire Mine, Idaho Usa.  The outcomes of the checking will be utilized directly for environmental permitting and the ongoing enhancement of the Strategy of Functions for all long term mining action, together with Red Star and the Empire open up-pit copper oxide deposit.

No important habitat for threatened or endangered plant or wildlife was identified inside of the project region.

Surface area and groundwater experiments point out no impacts from legacy mining operations. No significant cultural or archaeological artefacts identified in the project region

No Sage Grouse or Sage Grouse leks (breeding internet sites) had been identified at or in the vicinity of the project region.

The comprehensive Plant and Wildlife experiences, archaeological experiences, and hydrological experiences can be considered on the Company’s web page at www.phoenixcopperlimit­ in the title of Konnex Methods Inc, the subsidiary area functioning firm of the Company 

7digital () .5p £11.3m

 The world-wide leader in B2B end-to-end electronic songs options, is happy to announce that its songs platform-as-a-provider will ability jazzed, the world’s initial devoted audio-visual streaming provider for jazz and jazz-affected songs.

jazzed is a multi-tier jazz streaming membership provider which has been made by ETA Productions Ltd, a specialist in making new electronic media platforms for amusement markets. Introduced today, it features a remarkably curated songs, movie and editorial expertise for the jazz lover, that includes more than 5m tracks and unique particular person channels. Below the conditions of the initial twelve month contract, which contains established-up, month to month and usage-dependent articles costs, jazzed will use 7digital’s API and platform entry, playlist equipment, reporting expert services and catalogue management. This will permit jazzed end users to stream songs from 7digital’s extensive catalogue of jazz tracks. jazzed features an advert-funded freemium version that includes 10 hand-curated audio channels and a collection of movie articles, and a £5.ninety nine month to month membership-dependent tier with more than 40 channels and exceptional movie articles.  


88 Power () 1.175p £83.5m

Update related to operations for the forthcoming Charlie-1 appraisal effectively, on the North Slope of Alaska.


·    Ice street now >80% complete

Permit to Drill authorized for Charlie-1 appraisal effectively

·    Spud on keep track of for late February

  () three.85p £10.3m

 $1.9m putting at $10. Whilst this does stand for a 237% top quality to the closing mid-market place rate on 11 February 2020, it signifies a 1.1% top quality to the final audited NAV for each share of $9.89 as at 31 Might 2019.

The proceeds of the Putting Shares will be utilized to undertake investments even more to the Company’s investment technique. 


Head Cooks

Derren Nathan

0203 764 2344

[email protected]

Niall Pearson

0203 764 2343

[email protected]