Small Cap Value Report (Weds 6 July 2022) - AO., ZOO, CER, AGFX

Good morning from Paul amp; Graham. 

Sorry we didn't get round to looking at Equals (LON:EQLS) or Quiz (LON:QUIZ) (I hold) yesterday, as both look interesting. We'll try to cover those later.

Agenda - 

Paul's Section:

AO. - a £40m placing is announced, at 43p. This should shore up the finances, and I like the simplified strategy, intending to strip out £25m of excess costs. Looks investable again, now that solvency risk has been addressed.

Zoo Digital (LON:ZOO) - [No section below] Results for FY 3/2022 were scheduled for release today, but instead there's an RNS saying the "auditors have been unable to meet the pre-agreed timetable...", and that "the company has been informed by its auditors that it should be in a position to sign its results for the year ended 31 March 2022 shortly". A webinar scheduled for today is being rescheduled for next week.  This doesn't sound serious to me, based on what the company says, but it does introduce a little doubt.   

Cerillion (LON:CER) [No section below] - "Major contract win worth £15m" - more good news from this excellent little company, which offers billing software for the telecoms sector. It's the increased size, and stickiness of...