Hybridan Small Cap Feast - 14 Mar 23

14 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

SP Angel Spec Sits: (YUG) Stellar 2022 Results + New Dividend Policy

YUG announced its full year 2022 financial results, which exceeded recently revised market expectations.

LIBERUM: Yü Group* - Strong momentum and cash flow

SP Angel Spec Sits: YUG Follow-on Update - A Record-Breaking Year

YUG announced a post-year-end trading update ahead of already revised expectations. Given the Group's expected strong cash generation and growth prospects, the Board has declared its intent to pay a modest dividend this year.

LIBERUM: Yü Group* - Yet more upgrades

SP Angel Spec Sits: YUG Trading Update

YUG provided a trading update for the full year 2022E ending 31 Dec 2022. 2022 revenue is expected to reach ~£260m, representing y/y growth of 67%. 2022 EBITDA margins are expected to exceed the 2.1% reported in H122 (or £2.7m), Net cash at 31 Dec 2022 is expected to be well ahead of expectations.

LIBERUM: Yü Group* - Strong growth and dividend on the cards

SP Angel Spec Sits: YUG Outlook Stronger Than Ever

As reported in the trading updates for H122, YUG has reported very strong financial performance for the period, far outpacing our expected forecasts.

LIBERUM: Yü Group* - Strong growth and dividend on the cards

Hybridan Small Cap Feast 13/09/2022

Dish of the day Joiners: No joiners today. Leavers: Avast Plc has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Fintech Asia, an investment company established to acquire businesses in the Fintech sector, primarily targeting the Asia-Pacific region, intends to join the Standard Segment of the Main Market. The Company has raised £1.455m through the placing of 3,010,000 ordinary shares of no par value, with net proceeds of £841,845. Expected 15 September. Ikigai

SP Angel Spec Sits: Reconfirming Stronger than Expected H122

Recall in July YUG's trading update announced better than expected H122 financials. YUG is currently reconfirming this position.

FY22 Financials

Capital Limited (LSE: CAPD) released its full year results (YE Dec 2022) this morning. The company had already released the operational figures for the year including revenue so focus is on EBITDA and below as well guidance. Having said that it is impressive that this is the third consecutive year Capital has delivered material growth in revenue, with full year sales increasing 28%, following 68% YoY growth in 2021 and 18% YoY growth in 2020. Moreover the company is guiding to $320-340m for FY23

Hybridan Small Cap Feast - 21 Feb 23

21 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

LIBERUM: Costain Group* - Free cash more than 50% market cap

LIBERUM: Luceco* - Margin momentum coming into view

Revised forecasts

LIBERUM: Wincanton - Contract loss and closed book headwinds

Probability of strategic change increases - revising PT to 12p (from 20p) on a break-up basis

Judges Scientific FY Results – Outstanding results, Steady organic, M&A delivers in spades

Judges Scientific is a group involved in the buy and build of scientific instrumentation businesses. Testament to the strength of its highly engineered offer and global diversified customer base (offsetting Covid-induced earlier weaker order intake from China, although rebounding in December 2022), total revenue increased an impressive 24% to £113.2m (organic basis 8%), buoyed by Geotek, with adjusted PBT increasing a substantial 56.7% to £28.3m (FY2021: £18.1m), 4% ahead of our estimate of £27

LIBERUM: Judges Scientific* - FY22 ahead of expectations

Supreme plc: disposal of T-Juice intellectual property

Supreme reports that it has entered into an agreement with an associated company of La Vape Professionelle Distribution (LVP), a leading French wholesaler of e-cigarettes and e-liquids, for the disposal of the intellectual property (IP) of T-Juice, inclusive of the Red Astaire brand. Supreme will receive an upfront payment of €4.5m (£3.97m) in respect of T-Juice brand IP, with the addition of income from consultancy services. The agreement ushers in a new strategic partnership in which Supreme

LIBERUM: SThree* - Resilient Q1

Hybridan Small Cap Feast 08/03/22

What’s cooking in the IPO kitchen?** Fadel Partners, a developer of cloud based brand compliance and rights and royalty management software, working with some of the world's leading licensors and licensees across media, entertainment, publishing, consumer brands and hi-tech/gaming companies intends to join the AIM market. FADEL has two solutions, being IPM Suite and Brand Vision. Expected Admission date is late March 2023. Onward Opportunities Limited intends to join the AIM market. The Company'

ITM Power (ITM LN) - Bessemer Park power supply upgrade

Immediate higher power supply to increase module testing capacity. ITM has announced an agreement to significantly increase the power supply into its Bessemer Park manufacturing facility in the UK. Existing power supplies are now 7.5MVA, reflecting a recent increase from 5.0MVA. This will now allow testing of two 2MW modules at the same time.

SHORE CAPITAL - Judges Scientific+ (JDG, House Stock at 8,920p)

EQTEC (EQT LN) - Italia MDC project operational

Italia MDC project now operational. EQTEC has announced that its Italia MDC project is now operational. The gasification and biochar facilities were commissioned in January, with the Jenbacher engine commissioned in March and first electricity export recently achieved. EQTEC expects full handover of operations before the end of March.