AIM Breakfasts

AIM BREAKFAST – 01st March 2017

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 972

Total number of AIM Companies trading: 950*
* As at 28 February 2017

Dish of the Day:

UP Global Sourcing Holding – The innovative consumer goods group has priced its IPO at 128p raising £52.6m for the selling shareholders. Conditional dealings on the Main Market start today.


Off the Menu:

No AIM Leavers Today


Set Menu ISDX Growth:

Total number of ISDX Growth Market Companies (Incl Susp): 85*

Total number of ISDX Growth Market Companies trading: 82*
* As at 28 February 2017

Dish of the Day:

No NEX Growth Market Joiners Today

Off the Menu:

No NEX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.

Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo.

Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime.  Admission due 7 March


Breakfast Buffet

InnovaDerma* (IDP.L) 123.5p £14.63m

Further to the announcement of 27 February, the UK developer of ‘at-home’ and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation,  has now completed the acquisition of the Stevie K and Charles + Lee Acquisitions for AU$50k and confirms that  no debt or liabilities were assumed by the Company. The Vendors have a 14 day option to convert the consideration to shares. FYJun17E Revenue of £6.95m and PBT of £0.7m.


Conroy Gold & Natural Resources* (CGNR.L) 16.75p £1.84m

HY Nov 16 results from the Irish-based resource company exploring and developing gold projects in Ireland and Finland. It has been a busy time for the Company. Recent drilling results at Clontibret have included the discovery of five new gold zones. High Grades including 0.5m grading 25.9g/t gold. Wide intersections including  5.75m grading 5.0g/t gold. Plans for Mine Development at Clontibret advanced. Major gold target at Glenish – four new gold zones identified. Additional Claim Reservations in Finland. Appointment of Professor Garth Earls to Board. Net loss of €176.7k. Considering funding options including joint venture, farm-out and equity funding,


BlueRock Diamonds (BRD.L) 4.25p £2.37m

BlueRock has announced that its primary crushing and screening circuit has been commissioned and that the plant upgrade is now complete. The Company has been able to operate full processing for a longest continuous period of seven hours, with the plant demonstrating hourly capacity in line with expectations. Processing continues, but the move to extended continuous processing and then to 24 hour processing has been hampered by the continued unusually high rainfall being experienced in the Northern Cape with rainfall in January and February alone representing almost double the full year average experienced over recent years. Wet weather has hampered the move to 24hr processing but this remains the next step for the diamond producer.


SDX Energy (SDX.L) 50p £91.58m

The North Africa focused oil and gas company, has updated the market on its indicative drilling timetable on South Disouq. SDX can confirm that well location construction has been completed and that the Sino-Tharwa 6 drilling rig is currently being mobilised to the location.  The Company anticipates drilling to commence at the SD-1X location within the next fortnight.


Conygar Investment Co(CIC.L) 170p £122.7m

Conygar Stena Line Limited, the JV between the  Company and Stena Line, announced that Pembrokeshire County Council’s planning committee has unanimously approved the application for first phase of the Fishguard Harbour Marina project. Planning consent for the first phase consists of: An 8.28 hectare development platform; Two breakwaters; 345 floating marina berths; and a dredged marina basin. This is the first of five phases of the development and it focuses on infrastructure. The completed Fishguard Harbour Marina project will consist of a commercial area, residential apartments and retail facilities. FY Sep17E revenue of £8.78m, PBT £2.02m, Divi 1.4p.


Croma Security Solutions Group (CSSG.L) 40p £6.76m

HYDec16 results from the total security services provider. Revenue +29% to £11.2m. EBITDA of £0.44m from £0.27m. Interim divi of 0.5p from 0.4p. The Group has gained new clients across all of its subsidiary divisions. ’The idea of a highly specialised total security group is forming up well, our brand is becoming recognised and clients are seeing the benefits of coming to a single service partner for all their needs. It has been a good six months for the Group.’ There are no forecasts in the market.


Starvest (SVE.L) 2.5p £1.09m

FY Sep 16 results from the natural resources focussed investment Company. Notes an encouraging recovery in the sector throughout 2016 but believes there remained many undervalued opportunities as at the end of the year. NAV up to £1.27m from £1.14m. “During the year the Company acquired interests in Salt Lake Potash, and Diamond Corp. and raised cash from modest sales of Alba Mineral Resources plc, Ariana Resources plc, BMR Group plc, Red Rock Resources plc and Regency Mines plc. As is to be expected, we suffered failures during the year the largest being our interest in Nordic Energy plc which was de-listed. During the year, we received modest interest on short-term loans advanced during the previous year to Goldcrest Resources plc; Goldcrest  also made a partial repayment of the capital.”


Vertu Motors (VTU.L) 47.75p £189.7m

FYFeb17 trading update from  the automotive retailer with a network of 125 sales and aftersales outlets across the UK. The Board expects trading performance for the year ended 28 February 2017 to be in line with current market expectations, anticipating continued growth in revenues and profits. In 5mths to Jan 2017 saw revenues up 16.6% with like for likes up 4.8%. High quality, recurring, high margin aftersales business continues to grow on a like-for-like basis with revenues, margins and profits increasing in the core vehicle servicing activity (38.2% of gross profit earned from aftersales in the Period). FYFeb17E £2.7bn sales and £31.2m PBT. Yield 3%


MySale Group (MYSL.L) 120.25p £185.6m

MySale Group (MYSL.L) 120.25p £185.6m

HYDec16 results form the international online retailer.  Underlying EBITDA significantly increased to A$3m. Online revenue increased 19% to A$127.1m. Strong balance sheet with net cash balance increased to A$29.1m from A$27.5m at 30 June 2016. Active customer base increased 19% to 870,000. The group carries good momentum into H2 and has a number of initiatives which will support the future growth plans. The board remains confident in the current year’s prospects and that trading will be in line with the current range of analysts’ projections of underlying EBITDA of A$8.5 to A$8.7 million.

Creo Medical (CREO.L) 92p £74.25m

The medical device company focused on the emerging field of surgical endoscopy, announced its participation in the Semiconductor-based Ultrawideband Micromanipulation of Cancer Stem Cells (“SUMCASTEC”) H2020 FET OPEN research programme, led by the XLIM Research Institute at the University of Limoges in France. The consortium has been awarded a €4 million  grant, €530,000 of which is allocated to Creo. SUMCASTEC is based on the isolation, followed by the neutralisation of cancer cells associated with some of the most aggressive brain tumours, specifically Glioblastoma Multiforme and Medulloblastoma.

Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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