The session, hosted by Dr. Kerim Sener, Managing Director and Michael de Villiers, Chairman and Company Secretary, will discuss the latest operations, the recently announced FY24 results and outline the AGM resolutions ahead of the shareholder voting deadline on Monday, 7 July 2025 at 10:30am BST

Kromek Group PLC (AIM:KMK) delivered a confident and comprehensive investor update at its recent Capital Markets Day, highlighting 2025 as a transformational year. The company, a global leader in advanced imaging and CBRN (Chemical, Biological, Radiological, and Nuclear) detection technologies, operates across high-growth, high-barrier sectors including medical imaging, defence, security, and nuclear markets. With operations in the UK and US, Kromek emphasized its robust IP portfolio, strong OEM relationships, and strategic focus on two growth pillars - advanced medical imaging and CBRN detection. The company reported its fourth consecutive year of revenue growth, PBT profitability for the first time, and reduced debt to £0.5m. A standout £37.5m enablement contract with Siemens significantly bolsters long-term revenue visibility. Kromek reaffirmed medium-term targets of £60m revenue and 30% EBITDA margin within five years, supported by recurring revenue, innovation-led product development, and expanding global distribution. In medical imaging, Kromek is uniquely positioned as the only independent global supplier of CZT-based photon counting CT (PCCT) detectors - a disruptive platform set to transform a $15bn CT market by 2030. In CBRN, momentum is driven by rising geopolitical threats, increasing defence budgets, and strong positions on UK/US government frameworks. The company also outlined disciplined plans for bolt-on M&A to accelerate growth in CBRN, while remaining committed to organic expansion. Management assured shareholders of financial stability, sustainable gross margins, appropriate R&D investment, and no current need for further equity raises. Kromek’s strategy is laser-focused on converting its IP and customer relationships into long-term profitable growth and cash generation, underpinned by a clear commitment to building shareholder value.

Accsys Technologies delivered a pivotal FY25 investor update, highlighting strong financial performance, operational improvements, and strategic execution. The group reported a 125% increase in adjusted EBITDA to €10.8 million and a 13% rise in global sales volumes, driven by robust demand for its proprietary high-performance wood products, including Accoya® and Accoya® Color. Revenues reached €136.6 million, with gross margins improving to 30.3%, supported by efficiency gains, raw material savings, and a successful transformation programme that delivered €4.6 million in cost savings. The group’s US joint venture plant in Kingsport commenced commercial production in September 2024, enhancing its footprint in North America—the world’s largest and most profitable wood market. With production capacity expanding across three manufacturing sites and over 300 patents protecting its acetylation technology, Accsys is well-positioned as a leading innovator in the premium sustainable building materials sector. The company reiterated its clear, phased growth strategy to reach 120,000m³ run-rate capacity by FY30, while targeting zero net debt and improving cash generation. Positive early trading in FY26 and growing demand across key markets such as the UK, US, and Europe underpin management’s confidence in delivering further growth and margin expansion. With a focus on premium pricing, sustainable sourcing, operational leverage, and strategic modular capacity expansion, Accsys remains committed to creating long-term shareholder value and transforming the wood materials industry.

Scancell Holdings provided a comprehensive investor update outlining strong clinical momentum and strategic corporate developments. The company remains on track to deliver key data from its Phase 2 SCOPE trial evaluating SCIB1 and the next-generation iSCIB1+ DNA vaccines in combination with checkpoint inhibitors for advanced melanoma. Early data show a 72% overall response rate and strong T-cell immunogenicity, validating the vaccine’s mechanism of action. Enrollment in the expanded Cohort 4—featuring intradermal administration and accelerated dosing—is progressing well, with full data expected later this year. Scancell also reaffirmed timelines for its MODI-1 trial in renal and head and neck cancers. In a major corporate move, Scancell announced the formation of GlyMab Therapeutics, a wholly owned subsidiary focused on its high-affinity, tumour-targeting antibody portfolio. The spin-out aims to unlock greater shareholder value by advancing lead asset SC134—a bispecific T-cell engager targeting small cell lung cancer—towards IND and clinical trials, while enabling targeted partnering and capital raising. Backed by a robust patent estate and validated through partnered assets with Genmab, GlyMab provides Scancell shareholders with dual value-creation pathways. With a strong cash runway into H2 2026, multiple clinical catalysts ahead, and active partnership discussions ongoing, Scancell is well-positioned to deliver value through its differentiated immunotherapy pipeline and focused strategic execution.

ProCook delivered a strong FY25 performance, achieving record revenue of £69.5 million, up 11% year-on-year, with like-for-like sales rising 4.9%. The specialist kitchenware retailer reported gross margin improvement to 67.4% in Q4 and EBITDA margin expansion from 10.9% to 12.8%, driven by operational efficiency, disciplined cost control, and strategic pricing. ProCook opened 12 new stores—surpassing targets—and now operates 68 locations, supported by strong early performance and a 2-year average payback. E-commerce grew 10.3%, including a successful re-entry to Amazon UK, while online conversion and marketing efficiency improved significantly. The business model—100% own-brand, direct-sourced, vertically integrated—continues to support strong value and margin resilience. Strategic initiatives included product innovation (notably coffee appliances), omnichannel investment, supply chain optimisation, and targeted marketing, all contributing to six consecutive quarters of revenue growth. With a net cash position, self-funded growth capex, and plans to open 5–10 new stores in FY26, ProCook is on track to achieve its medium-term goals: 100 stores, £100 million in revenue, and a 10% operating margin. Management reaffirmed confidence in delivering sustainable, profitable growth while maintaining a high Trustpilot rating (4.8) and a strong ESG profile as a B Corp.

Rockwood Strategic PLC (LSE:RKW) delivered a strong investor update, showcasing its standout financial results and robust growth strategy. With a £120m NAV and listed on the London Stock Exchange, the fund targets undervalued UK-listed small caps (sub-£250m market cap), capitalising on structural inefficiencies in a market increasingly overlooked by larger managers. Managed by Richard Staveley of Harwood Capital, Rockwood applies a proven, value-oriented approach focused on free cash flow generation, EBITDA recovery, and long-term capital growth, typically seeking at least 100% upside over a 3–5 year holding period. The fund has outperformed peers with top-quartile returns over 1, 3, and 5 years and delivered a 7.5% NAV increase year-to-date. Portfolio highlights include Filtronic, driven by satellite communications demand; Capita and RM, undergoing successful transformations; and Funding Circle, which is showing renewed momentum. Rockwood’s concentrated portfolio is actively managed with deep engagement, including board-level influence, to unlock shareholder value. Insiders remain significantly aligned, with the manager and chairman recently increasing their holdings. With macro conditions improving, falling interest rates, and UK small-cap valuations at historic lows, Rockwood is well-positioned for further outperformance. The fund continues to identify compelling recovery and growth opportunities across the UK market, backed by disciplined stock selection and a permanent capital structure.

Utilico Emerging Markets Trust (UEM) delivered a confident investor update, highlighting its specialist focus on listed infrastructure and utility assets across high-growth emerging markets. The trust reported sustained net asset value (NAV) outperformance versus the MSCI Emerging Markets Index, delivering compound NAV growth of 9% and total returns five times higher over 20 years. The portfolio benefits from long-term structural tailwinds—including urbanisation, rising middle-class demand, and energy transition—and is anchored by resilient, cash-generative assets such as ports, toll roads, data centres, and renewable energy infrastructure. UEM’s active, bottom-up investment strategy targets undervalued opportunities with robust fundamentals and strong dividend visibility, evidenced by its 3.7% yield and consistently covered payouts. With holdings trading at an EV/EBITDA discount to peers and the trust itself at an 11% discount to NAV, UEM represents a compelling value opportunity. The team emphasized the defensive nature of its portfolio amid macro volatility, with low gearing, inflation-linked revenues, and prudent FX and interest rate risk management. Recent highlights include exposure to high-growth digital infrastructure and hydroelectric energy assets in Asia. With a high active share (98%) versus the MSCI EM Index and a differentiated, long-term approach, UEM remains well-positioned to capitalise on undervalued structural growth across global emerging markets.

Star Energy Group PLC’s (AIM:STAR) 2025 AGM trading update outlines a disciplined strategy focused on strengthening core profitability while accelerating growth in geothermal energy. The company has significantly reduced general and administrative (G&A) costs from over £7 million to a forecasted £4.5 million annually, establishing a leaner, more resilient cost base. Oil and gas production remains stable at 2,000 barrels per day, supported by an effective hedging strategy and net debt reduced to £1.9 million. The Singleton gas-to-wire project is progressing towards a Q4 2025 start, representing a key value-adding initiative. Star’s geothermal business is gaining traction in both the UK and Croatia, where strong government support, rising demand for decarbonised heat, and strategic partnerships with Bring Energy and Veolia are driving a growing project pipeline. With first-mover advantage in the UK and a robust licence position in Croatia’s geothermal hotspot, Star is targeting self-funded development through grants, farm-downs, and disciplined capital allocation. Despite market headwinds and share price pressure, management remains confident that its cash-generative oil and gas base, combined with scalable geothermal opportunities and a focused execution strategy, positions the business to deliver sustainable long-term shareholder value.