MrC's Smallcap Sweeps for May 2023

[MrContrarian]

Smallcap Sweep. 02-May-23
MADE trade fade

Superdry (SDRY) confirms talks on fundraising of up to c.20% of cap. [SP=86.1 Cap=71m]
The Restaurant Group (RTN) trading encouraging. Ahead of mgmt expectations "on its medium-term margin accretion and deleveraging plans". [SP=40.08 Cap=307m]
Made Tech (MTEC) warns FY-May rev c. £40m and adj EBITDA £1.5m+, a miss. Blames clients delaying project starts. [SP=27.2 Cap=41m]
Kromek (KMK) $1.4m order from new customer, to be booked this FY. [SP=6.6 Cap=29m]
Hostmore (MORE) plans further cost reductions of £4.1m PA. Substantially all affected employees and service providers have now left. [SP=13.55 Cap=18m]
Tribal (TRB) gets an interim demand for $9.9m damages from Nanyang Technological University (which had purportedly terminated its contract). Co intends to dispute it. [SP=39.6 Cap=83m]
GENinCode (GENI) NHS accelerates implementation of LIPID inCode testing of patients suffering with hypercholesterolemia and familial hypercholesterolemia. [SP=15.5 Cap=15m]
Synectics (SNX) further $3m orders for surveillance system for Solaire Metro North casino. Delivery in Q4. [SP=106.3 Cap=19m]
Kitwave (KITW) guides FY-Oct slightly ahead of market expectations. [SP=268 Cap=188m]
Destiny Pharma (DEST) positive results from testing SPOR-COV in several COVID and flu research models. Supports potential as prophylactic nasal spray. [SP=32 Cap=30m]
Vianet (VNET) guides FY rev up 7% and op profit up c.30%, ahead of market expectations. [SP=69 Cap=20m]

In line: TLY, SMV
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

[MrContrarian]

Smallcap Sweep. 09-May-23
Heads they win and fails you lose

Kanabo (KNB) £2.54m placing with warrants at 2.88p, an 11% discount. Needed partly for product development focused on pain management. Hope they have something for shareholders then. [SP=NA Cap=NA]
Trackwise Designs (TWD) tells EV OEM customer "delay in Parts production completion and therefore the impact upon the Parts price, has been caused by the EV OEM". Gives OEM until 2 June to remedy the breach [SP=0.61 Cap=3m]
Let's Explore (LETS) tender for 65% of cap at 4.75p. Also loans to 3 directors to allow each of them to exercise their respective Director Options in full. Yeah, that sounds fair. [SP=NA Cap=NA]
Purplebricks (PURP) guides FY23 in line but warns on FY24. Cash tight. Formal Sale process: several rounds of bidding so far but "transactions being contemplated, if concluded, would be expected to deliver returns to shareholders materially below the Company's current share price." [SP=5.48 Cap=17m]
Amala Foods (DISH) fantastic news for long suffering shareholders: the directors are "working hard" to achieve an RTO and lift suspension. [SP=NA Cap=NA]
Marshalls (MSLH) warns FY23 below mgmt exp. Blames fall in new home starts. [SP=292.29 Cap=739m]
Mincon (MCON) sounds in line. [SP=NA Cap=NA]
Hostelworld (HSW) guides FY23 rev above market expectations of €14.6m. [SP=132 Cap=160m]
XLMedia (XLM) revenue share agreement in North America with bet365. [SP=11.49 Cap=29m]
Osirium Technologies (OSI) AGM stmt sounds OK. [SP=NA Cap=NA]
Plant Health Care (PHC) PHC68949 gets first stage of regulatory approval for commercial use in Brazil. [SP=10.1 Cap=32m]

In line: MACF, WNWD, MIDW, TTG
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

[MrContrarian]

Smallcap Sweep. 10-May-23
Unbound's £10m injection from Marwyn wasn't a shoe-in.

Unbound (UBG) Marwyn withdraws offer to buy £10m of shares at 10.5p, citing principally concerns over current trading. Q1 rev below mgmt exp. Profit broadly in line due to cost cuts. Co will probably need further covenant waivers. Talks on raising additional funding or refinancing. [SP=7.33 Cap=5m]
SRT Marine Systems (SRT) £20 million increase to medium term note capacity in anticipation of some significant new system contracts. [SP=NA Cap=NA]
Live Company (LVCG) sells two of its underperforming tours Mythical Beasts and Outer Space for £350k. Co will not get funding from Jason Lee as mooted. Talks to get finds elsewhere. [SP=NA Cap=NA]
Cellular Goods (CBX) skincare range to sell on the leading Sephora website. [SP=0.59 Cap=3m]
SkinBioTherapeutics (SBTX) positive update from Sederma (Croda) team on progress of its work with SkinBiotix. AxisBiotix-Ps sales have commenced in Spain. [SP=NA Cap=NA]
Avation (AVAP) leases the last remaining aircraft from inventory. [SP=NA Cap=NA]
Cenkos Securities (CNKS) AGM stmt: rev continues to track ahead of the average run-rate for H2 2022. [SP=38.04 Cap=22m]
Quantum Blockchain Technologies (QBT) algorithm Method B "has theoretically [huh?] increased the rate of successful bitcoin mining by 2.6 times compared to standard." Cuts electricity consumption by 4.3%. Why so little? [SP=NA Cap=NA]
Vertu Motors (VTU) FY-Feb ahead of expectations with adj EPS 9.16p (17.92p). Div 2.15p (1.7p). Current trading strong. Further £3m share buyback. [SP=57.63 Cap=201m]

In line: LUCE, GRC, CTO, HAT, IXI
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

[MrContrarian]

Smallcap Sweep. 11-May-23
NEW FORMULA. Now 30% more penetrating.

MobilityOne (MBO) withdraws UK electronic money institution application after FCA asks for further information on biz plan. Co "reviewing its proposed business plan in the UK and its options in relation to submitting a further revised FCA application". [SP=7.5 Cap=8m]
SDI (SDI) guides FY-Apr rev £69m and adj pretax £11.8m vs F/C £66.3m and £11.8m. [SP=175 Cap=182m]
OKYO Pharma (OKYO) delays delisting to 22 May "facilitate late transfers of certificated positions into CREST". [SP=2.22 Cap=37m]
John Lewis Of Hungerford (JLH) tiny kitchen shop chain proposes delisting, tender offer after a sale and leaseback for £3m. Blames listing costs. Will tender for only 10% of cap at 1.5p, roughly par. [SP=1.42 Cap=3m]
Ilika (IKA) ships stacked Stereax M300 batteries to a customer at last. I think Faraday was still alive when IKA first announced this tech. [SP=47 Cap=74m]
Galliford Try (GFRD) is 'sole appointee' for £387m UK defence contracts. Does that just mean it won the contracts outright? [SP=177.58 Cap=190m]

In line: SFOR, FBH, COST, GHE, ELCO
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

[MrContrarian]

Smallcap Sweep. 12-May-23
Horsing around in the city stables

Eden Research (EDEN) another step on the ultra-marathon to profit. Gets regulatory approvals for Cedroz in California and Mevalone in Florida. [SP=4.3 Cap=16m]
US Solar Fund (USF) has failed to far to get an acceptable offer for US assets. Also has rejected an offer for co. Terminates Formal Sale Process. [SP=0.78 Cap=263m]
THG (THG) ends takeover talks with Apollo because indicative offer rejected by holders. "Profitability and cashflow improvements delivered during the first quarter of FY 2023, have continued in Q2...remains on track to be cashflow positive in 2024." [SP=81.75 Cap=1062m]
FireAngel Safety Technology (FA.) £1.5m Middle East contract. [SP=7.25 Cap=13m]
Blackbird (BIRD) A&E Television Networks gives notice to cancel contract at end June. Was 10% of rev in 2022. [SP=10 Cap=37m]
Eurocell (ECEL) warns FY23 adj pretax below market expectations of £22m. Jan-Feb rev down 2%. [SP=129.5 Cap=145m]


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

[MrContrarian]

Smallcap Sweep. 15-May-23
Profit shredders and cheer spreaders

BSF Enterprise (BSFA) makes samples of lab-grown leather. [SP=NA Cap=NA]
Restore (RST) warns FY23 adj pretax £41-43m, below mgmt exp. Blames lower IT market prices. Guides rev up over 5%. [SP=293.5 Cap=402m]
Sondrel (SND) guides FY22 rev up 116% and adj EBITDA in line with market expectations of £1m. [SP=54 Cap=48m]
WANdisco (WAND) plans $30m placing towards the end of June. Has cash until middle of July. Will remain suspended until after fundraise. [SP=NA Cap=NA]
Journeo (JNEO) wins £0.9m order with rev booked late in Q4 2023 and early Q1 2024. Included in mgmt exp for FY23. [SP=172.97 Cap=28m]
FRP Advisory (FRP) guides FY-Apr rev £104m (up 9%) and adj U/L EBITDA £27m both slightly ahead of market consensus of of £100.5 million and £25.8m. Outlook positive. [SP=110.5 Cap=276m]
Global Ports Holding (GPH) guides FY-Mar rev up 66% and adj EBITDA $72.7m ($7m). 9.2m passengers. Guides FY24 11.8m passengers. [SP=165.5 Cap=106m]
Eden Research (EDEN) Mevalone authorised in New Zealand. [SP=NA Cap=NA]
Malvern (MLVN) five year student recruitment partnership agreement with the University of Chichester. "Malvern appointed as a global Representative Agent to support the University's international strategy and provide support services..." [SP=16.1 Cap=4m]


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

[MrContrarian]

Smallcap Sweep. 16-May-23
No tears at boohoo this time.

boohoo (BOO) FY-Feb rev down 11% (guidance 12%) and adj EPS -0.02p (+4.39p). Stock down 36%. Net cash £5.9m. Adj EBITDA margin 3.6% (6.3%). Medium term adj EBITDA margin expectation of 6% to 8%. Guides FY24 rev -5% to flat "with increased emphasis on driving profitable sales. In the first half, revenues are expected to decline by 10% to 15% as a result of this action being taken". [SP=38.5 Cap=488m]
Seeing Machines (SEE) exclusive licence to jointly develop pioneering eye-tracking solutions for the Aviation industry with Collins Aerospace. SEE will get $10m licence payment over 3 yrs. [SP=5.77 Cap=239m]
Rurelec (RUR) conditional agreement to sell Argentinian Interests for up to $5m. Needs shareholder vote. Will pay 0.2p special div. [SP=0.36 Cap=2m]
Quadrise (QED) update of projects. Didn't see anything of note. [SP=1.32 Cap=18m]
Dialight (DIA) AGM stmt. H1 some weakness but keeps FY exp unchanged with "with performance now more significantly weighted to H2". [SP=228 Cap=73m]
Accrol (ACRL) guides FY-Apr rev up 52%, ahead of market expectations. Adj EBITDA at least in line. FY24 margins improving. [SP=35 Cap=112m]
Glantus (GLAN) Q1 rev c.€3.47m and adj EBITDA c.€1m, ahead of mgmt exp. Progress on talks to extend the repayment date of €5m loan due Aug. [SP=7.5 Cap=4m]

In line: EQLS, HERC
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

[MrContrarian]

Smallcap Sweep. 17-May-23
A whine of information

Newmark Security (NWT) FY-Apr rev 'growth'. Not even a number! Human Capital Management ARR £2.1m up 133%. Return to profitability and cash flow generation. Good start to FY24. Why is this £6m tinpot even listed? [SP=58.9 Cap=6m]
Xeros Technology (XSG) 10-year, worldwide non-exclusive license for its denim finishing tech to KRM Tekstil Boya San. [SP=3.15 Cap=5m]
Silverbullet Data Services (SBDS) partnership with Silverpush, a global leader in cookieless advertising solutions. CEO 'thrilled'. [SP=46.5 Cap=7m]
4GLOBAL (4GBL) partnership with Jonas Fitness, extends relationship with Jonas brands into North America and their 10k+ customer sites. [SP=48 Cap=13m]
Mpac (MPAC) AGM stmt - sounds in line. [SP=230 Cap=47m]
Kinovo (KINO) guides FY-Mar marginally above expectations with rev-cont up 18% and EBITDA up 29%. [SP=46 Cap=29m]
Fix Price (FIXP) Russian shop chain open in Armenia, its ninth market. [SP=NA Cap=NA]

In line: APTD, DSW, EKF
Notes SP & cap are 20m delayed
DYOR, E&OE etc etc. I may have a position in any or all of the shares covered.

@MrContrarian

[MrContrarian]

Smallcap Sweep. 18-May-23
Jam today and tomorrow

Chill Brands (CHLL) engages a sales, distribution and marketing agent (The Vaping Group) to launch its range of nicotine-free vapour products to the UK market. "Confident that this partnership will significantly improve its commercial prospects and the near-term performance." [SP=7.28 Cap=17m]
SRT Marine Systems (SRT) $180m contract to supply an integrated maritime surveillance and intelligence system to a national Coast Guard. Expected implementation period 2 years. [SP=46 Cap=84m]
Tanfield (TAN) improved performance of 49% owned Snorkel. [SP=2.58 Cap=5m]
Christie (CTG) H2 weighting to even greater due to delays in transactions. FY guidance unchanged. [SP=147.1 Cap=39m]
Immupharma (IMM) ositive guidance from the FDA Pre-IND meeting supports an IND application and a Phase 2/3 adaptive clinical trial of P140. [SP=3.09 Cap=10m]
Nuformix (NFX) some progress on tests of NXP002 treatment of Idiopathic Pulmonary Fibrosis. [SP=0.25 Cap=2m]
Conygar Investment Company (CIC) planning approval for next phase of The Island Quarter development in Nottingham. [SP=115 Cap=69m]
Speedy Hire (SDY) £20m of missing non itemised items was not do to "underlying systemic fraud" but blames problems with controls and accounting procedures over many years. [SP=32.1 Cap=149m]
Niox (NIOX) adj EBITDA for the first four months of the year well ahead of mgmt expectations. Rev up 21%. [SP=57.41 Cap=239m]
Non-Standard Finance (NSF) largest shareholder, Alchemy pulls of planned placing so the Alternative Transaction (d4e) is more likely than the recapitalisation. A d4e will leave shares almost worthless. [SP=0.45 Cap=1m]
Genuit (GEN) guides FY-Dec23 rev in line and op profit slightly ahead of consensus: EBIT forecasts £70 - £96m. Jan-Apr rev down 4%. [SP=298 Cap=736m]
Mirada (MIRA) the tinpot TV s/w co proposes delisting. Blames small free-float, inability to place shares and costs of listing. Guides FY-Mar rev c.$10.7m ($11m) and adj EBITDA c. £1.5m ($1.6m). "Marked progress in consolidating its position as a leading provider of Android TV-powered software in the industry." [SP=19.9 Cap=2m]
Plant Health Care (PHC) consultation with shareholders concludes that co will remain listed and support for "further capital to accelerate organic growth, if justified by returns over the current plan". [SP=10 Cap=31m]
MyHealthChecked (MHC) Boots will stock extended range of at-home self-testing products. [SP=23 Cap=12m]

In line: FNTL, SFE, REDD, STB, BLV, MBH, SAG, IDOX, WRKS
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

@MrContrarian

[MrContrarian]

Smallcap Sweep. 19-May-23
A stake in the heart of the city

Knights (KGH) guides FY-Apr rev up 13% and U/L pretax c.£21.5m. In line? [SP=85 Cap=73m]
Oxford Nanopore Technologies (ONT) presented "breakthrough performance data and new platform updates, including direct RNA sequencing to support the emergence of RNA-based therapies". [SP=237.46 Cap=1964m]
Unbound (UBG) could be very short of cash in Sept due to the planned build-up of inventory. Hoists For Sale flag. Temporarily ceased its loss-making direct-to-consumer sales in the US and EU - 11% of rev. [SP=3.5 Cap=2m]
iEnergizer (IBPO) JP Jenkins has been appointed to provide a matched bargain facility after deling (24 May). [SP=51 Cap=97m]
genedrive (GDR) NICE draft guidance recommends CYP2C19 genotyping for clopidogrel treatment. "Although CYP2C19 ID test is in development, the NICE Committee included its predicted performance and pricing in its clinical and economic models." [SP=21 Cap=21m]


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

@MrContrarian

[MrContrarian]

Smallcap Sweep. 22-May-23
Monday Maelstrom

Totally (TLY) wins c. £12m of contract extensions of 6-12 months. [SP=20.5 Cap=40m]
World Chess (CHSS) World Chess officially open. It aims "to reinvent the chess club culture in its entirety". No chess boards then. [SP=9.95 Cap=63m]
EnSilica (ENSI) the ASIC used in the automotive vehicle launched in June 2022 is being designed into additional models. Hikes rev exp to $40m over the next 6 years. [SP=61 Cap=48m]
Quadrise (QED) fuel trial in Morocco fails because QED's pump failed. Why didn't it make two pumps? [SP=1.35 Cap=19m]
Nexteq (NXQ) name change from Quixant effective today. [SP=NA Cap=NA]
BSF Enterprise (BSFA) first distribution agreement and three new customers for its patented City-MixTM supplement, culture media booster. A culture media booster? Will that make the Times Literary Supplement more interesting? [SP=14 Cap=14m]
Catenae Innovation (CTEA) court rejects attempt by two the minority shareholders of Hyperneph Software to seek Summary Judgement in the claim against the Company. [SP=0.13 Cap=m]
Ethernity Networks (ENET) gets $230k as part of promised sunscription from 5G Innovation Leaders Fund (see 25 Feb). $1,5m remains. [SP=3.29 Cap=3m]
Zinc Media (ZIN) major contract win (no fig) for series for Canadian Broadcasting Corporation and BBC. [SP=107 Cap=23m]
Norman Broadbent (NBB) Q1 rev up 67% with Net Fee Income up 66%. In line? CEO 'delighted'. [SP=4.74 Cap=3m]
Oncimmune (ONC) sells Oncimmune Limited for £13m. Co will continue to operate its ImmunoINSIGHTS business, primarily through its subsidiary Oncimmune Germany. Also the latter signs a 5 yr Master Services Agreement with Freenome for services worth €1.14m min PA. [SP=37 Cap=27m]
Inland Homes (INL) gets planning consent for mixed-use development of 1,525 homes and c. 2,700sqm of commercial space at Cavalry Barracks in West Hounslow. [SP=8.5 Cap=23m]
Renalytix (RENX) expansion of insurance coverage for KidneyIntelX with CareFirst BlueCross BlueShield, the largest health care plan in the Mid-Atlantic region of USA. [SP=85 Cap=102m]
Blackbird (BIRD) restructures business, cuts jobs, to save c.£0.5m PA. CEO trills ""I am excited about our prospects". [SP=6.32 Cap=23m]
Kinovo (KINO) boosts 5 yr contract worth £12m to £40m over 8 yrs. Alos £2m of other new contracts. [SP=50 Cap=30m]
Begbies Traynor (BEG) guides FY-Apr ahead of market expectations with rev up 11% and adj pretax up 16%. Outlook confident. [SP=132 Cap=199m]
Chesnara (CSN) long term strategic partnership with FinTech market leader SS&C Technologies which will provide co with "access to a modern, flexible and cost efficient policy administration service". [SP=286 Cap=429m]

In line: VLG, IKA, SRAD, WIN
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

[MrContrarian]

Smallcap Sweep. 23-May-23
The front row for all the blows

Home REIT (HOME) trading and rent collection update. Intends to sell in the near term of a number of properties. Appoints AEW UK Investment Management as Property Adviser. [SP=NA Cap=NA]
First Property (FPO) Loan restructuring by Polish Associate, extends by 7 yrs. [SP=27.05 Cap=30m]
Empresaria (EMR) AGM stmt. Weakness has continued into 2023. Jan-Apr net fee income down 5%; profits are expected to be down significantly. [SP=60 Cap=30m]
Portmeirion (PMP) AGM stmt sounds in line although "some increased caution from US customers during recent weeks". [SP=512.89 Cap=72m]
Harworth (HWG) AGM sttmt sounds in line. [SP=124 Cap=400m]
Pebble Group (PEBB) AGM stmt - guides H1 up. In line? Expects decreasing capital investment from FY24. [SP=100 Cap=167m]
Physiomics (PYC) warns FY-June likely to be more than 10% lower than £750k guidance. Blames "delays in data delivery to Physiomics for contracted projects and the signing of a project with a potential new client". [SP=2.54 Cap=2m]
Gresham Technologies (GHT) AGM stmt - 'confident'. [SP=148.26 Cap=124m]
Codex Acquisitions (CODX) suspended from 24 May due to audit delay. Trading remains in line. [SP=20 Cap=1m]
Eneraqua Technologies (ETP) guides FY24 rev significantly ahead of management expectations with high-single digit pretax margins due to some larger, lower margin projects delayed from FY23. Expects a more balanced mix of projects and margins in FY25. [SP=260 Cap=86m]

In line: DWL, EPWN, BIG
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

@MrContrarian

[MrContrarian]

Smallcap Sweep. 26-May-23
Stubbing out hope in the ashtray of updates

Chamberlin (CMH) ultra-tinpot metal-basher makes £360k placing at 3p, an 8% discount, to keep the lights on. Down 98% in 6 yrs. [SP=3.3 Cap=4m]
Kin and Carta (KCT) warns FY-July rev flat to 2% and LFL c.-11%. Blames mkt weakness and delayed contracts. However cost cuts mean adj EBITDA margin improved over H1 amd guides FY c. 10-11% (11%). FY24 backlog £133m (£105m at same stage). [SP=71.3 Cap=127m]
Quadrise (QED) good results from Vertoro JV engine fuel tests. [SP=1.08 Cap=15m]

In line: XLM, POLX
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

@MrContrarian

[MrContrarian]

Smallcap Sweep. 30-May-23
Meat expectations

BSF Enterprise (BFSA) has made 2 further full-scale fillets of cultivated pork, as well as a cultivated pork strip, which were presented at a technical event. [SP=NA Cap=NA]
DWF (DWF) guides FY-Apr rev c.£380m up 8%. "Highly confident in medium term guidance provided in July 2021." [SP=62 Cap=212m]
STM (STM) new interest sharing policy with some of its pension members. Has obtained better interest from its banks and will boost pretax by £1m+. Higher returns will compensate for "lower than expected new business and some significant non-recurring costs". [SP=25.85 Cap=15m]
Woodbois (WBI) cash crisis: GM to increase preemption powers and lower the nominal value of shares to allow a placing. [SP=0.5 Cap=12m]
Rosslyn Data Technologies (RDT) wins two contracts worth £422k over a multi-year period. [SP=0.77 Cap=3m]
Hunting (HTG) hikes FY23 EBITDA guidance to $92-$94m due to $91m 3 yr order. [SP=201.5 Cap=331m]
Home REIT (HOME) update on Internal Investigation includes "existence of certain undisclosed potential outside business interests and undeclared potential conflicts of interest as between certain persons associated with the Investment Adviser and third parties". [SP=NA Cap=NA]
Malvern International (MLVN) AGM stmt. Good numbers. In line? Co "confident for Malvern's prospects and expects to achieve growth in all divisions in 2023". [SP=17 Cap=4m]

In line: LIKE, SPO
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

@MrContrarian

[MrContrarian]

Smallcap Sweep. 31-May-23
Head-throbbing, pant-wetting excitement - yes, it's CHESS!

World Chess (CHSS) continues its Armageddon Championship Series with Europe and Africa week. "Players' real-time heartbeat and calories burnt displayed alongside immense time controls and breakneck moves all adding to the excitement." The next step is surely Squid Game style execution of the losing player. [SP=8.01 Cap=63m]
Aferian (AFRN) shareholder loan facility of up to £3.25m at 10% from its largest shareholder to give additional headroom in respect of covenants. 2% fee + warrants natch'. Bank loan cut from $50m to $25.4m. Trading broadly in line. [SP=16.5 Cap=14m]
MGC Pharmaceuticals (MXC) first CannEpil (for drug-resistant epilepsy) delivered to UK patients. [SP=0.38 Cap=14m]
Yü (YU.) guides FY-Dec23 rev, margins and cashflow substantially ahead of market expectations. "Pent-up demand from softening commodity markets has seen an increase in customers contracting with Yü providing additional revenue visibility." [SP=460 Cap=77m]
Tekmar (TGP) wins £5m+ contract for delivery in 2024. [SP=8.9 Cap=12m]
DP Eurasia (DPEU) Jan-Apr rev (in TRY) up 65%, rev-cont up 88%. But Turkey has massive inflation. What's the rise in real terms? [SP=47.96 Cap=65m]
Robinson (RBN) sells part of the Walton Works surplus property in Chesterfield for £700k, £38k above book. Remaining surplus properties c. £7.4m. [SP=91.6 Cap=15m]
XLMedia (XLM) three-year extension with Schneps Media to continue as the exclusive provider of sports betting and iGaming content to amNewYork. [SP=9 Cap=23m]


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

@MrContrarian