AIM Breakfasts

AIM BREAKFAST – 10th February 2017

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 971

Total number of AIM Companies trading: 947*
* As at 09 February 2017

Dish of the Day:

No AIM Joiners 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 09 February 2017

Dish of the Day:

Middle East focused investment vehicle, Indigo Holdings Plc,  has joined NEX. Raised £818k at 3p.

Off the Menu:

No NEX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

Saffron Energy— Schedule One. Italian Oil and Gas play . Expected admission 24 Feb.

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.  Issue closing 23 Feb.

Arix Bioscience — Intention to float on the main market from the  global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management

Ramsdens Holdings –Schedule One from the financial services provider and retailer, operating in the core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. Expected admission to AIM 15 Feb raising circa £15.6m. Expected mkt cap £26.5m.


Breakfast Buffet

Western Selection (WESP:NEX) 49.5p £8.9m

H1 results from the investor in small companies. “Our net assets per share increased 6.3% to 84p at 31st December 2016 from 79p at 30th June 2016. Our quoted Core Holdings, taking into account the realisation of part of our investment in Swallowfield and increased investment in Bilby, increased in value by 10%. The value of investments within treasury operations increased by 1% over the half year. At the close of business on 8th  February 2017, our net asset value was 91p per share.” Interim divi of 1.1p from 1.05p.


Lighthouse Group (LGT.L) 11.63p £14.85m

The national financial advisory group has agreed the renewal of its contract with The Union of Shop, Distributive and Allied Workers (“Usdaw”). Lighthouse will act as the preferred provider of financial advice to its members, supplying holistic financial reviews encompassing investments, retirement planning, mortgages and protection, for a further three years from 1 February 2017.  Usdaw was established in 1891 and is one of the largest trade unions in Britain, with over 434,000 members nationwide. FYDec16 £49m rev and £1.3m PBT 0.3p div.


European Metals (EMH.L) 51p £66m

Analytical results for the final three drillholes completed under the recently completed drilling programme at the Cinovec Main sector of the deposit. Analytical results for further three drillholes at Cinovec Main confirmed or exceeded the expected lithium content and mineralisation width. Hole CIW-25 contains the Company’s longest Li intercept to date of 361.5m averaging 0.43% Li2O, incl. a high grade Li interval of 14.7m averaging 0.93% Li2O. Moreover, significant intervals of Sn and W are included: 2m @ 1.67%Sn and 0.216% W and 2m @ 0.76%Sn and 0.319% W. A revision of the resource model is now underway and will form the basis of the soon to be completed Preliminary Feasibility Study. It is anticipated this resource model will be finalised and announced in February 2017.


Billington Holdings (BILN.L) 245p £31.5m

One of the UK’s leading structural steel and construction safety solutions specialists, announced that the Company intends to release its results for the year to 31 December 2016 on 21 March 2017. Results are anticipated to be in line with market expectations and the Board is particularly pleased with the progress made at the new Shafton facility. “2016 was a busy year for Billington and we are encouraged that the Group’s divisions continue to perform amongst the best in their respective fields. We are also delighted with the successful delivery of a number of our high profile projects, including the Greenwich Peninsula Energy Centre, which was Highly Commended at the Yorkshire Structural Engineering Excellence Awards.” FYDdec16E PE of 10.1 x and 2.5% yield.


FinnAust Mining (FAM.L) 8.12p £42.1m

The Company with projects in Greenland & Finland, announced that the Government of Greenland has amended the Standard Terms for Exploration Licences for Minerals (excluding hydrocarbons) in Greenland. Under a newly issued addendum, the expenditure obligations for exploration licences from year 6 to year 11 inclusive will be reduced to a zero expenditure requirement for 2017.  This will result in cost savings to the Company as it looks to advance its newly acquired Avannaa licences in Greenland, now renamed Disko Exploration Limited.


Tribal Group (TRB.L) 75.75p £148m

Further to the statement in the year end trading update released on 18 January 2017 that Tribal had secured preferred bidder status with a Russell Group University, Tribal has confirmed that a contract has been signed for the supply and implementation of a full student management system (with the University of Sheffield. The contract is valued at £4.6 million pounds over a five year period and was factored in to the 2017 business plan. FY17E rev £81.3m and £5.7m PBT.


European Wealth Group (EWG.L) 52.5p £13.78m

FYDec16 trading update from the integrated wealth management group.  Total revenue for the full year is expected to exceed £9.3m (2015: £7.6m), a 24% increase year on year. 21.5 percent increase in Funds Under Management  over the year to £1.5 billion. Anticipated boost of further £110 million of funds under management from Towry acquisition. The recent growth has resulted in an increased need for working capital. Discussions ongoing regarding repayment of convertible loan note due in June 2017. The increased revenue is a result of acquisitions but also strong performance within our investment management and dealing business particularly in the aftermath of the Brexit vote.  There are no market forecasts.


APQ Global (APQ.L) 104.5p £81.57m

2017 outlook statement from the emerging markets growth company. “2016 was a defining year for our company. On 11 August 2016, we raised £78 million on the Channel Islands Stock Exchange, and we were admitted to trading on the London Stock Exchange’s AIM Market two weeks later. These landmark developments give us the resources to focus on growing dividends and substantial capital growth for our shareholders in the years to come”.  “In short, we expect 2017 will see the global economy adapt to the tumultuous events of last year and we expect to see tremendous opportunities for emerging markets in the years ahead.”


Boxhill Tech (BOX.L) 0.19p £3.43m

Mixed trading update from the payment software and lottery group. The Company has also agreed heads of terms to acquire Timegrand Limited, a recently incorporated special purpose vehicle. On completion of the acquisition, Timegrand will hold intellectual property, software and knowhow including a licence to use an advanced Payment Gateway software system with advanced analytics and security/fraud management as well as finance and administration services. The Acquisition, expected to conclude in Q1 2017, is for a proposed consideration of 500,000,000 new ordinary shares.


Oncimmune (ONC.L) 124.5p £63.5m

HYNov16 results from the early cancer detection company. Established a distributor base of 14 in the US for the EarlyCDT®-Lung test, all of which are now fully operational. Period included further development and validation of the platform. Cash balance at the period end was better than expected at £7.6m (FH1 2016: £1.1m). Loss for the period was £2.3m (FH1 2016: £0.8m) reflecting recruitment of staff, product development and commercialisation activities.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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