AIM BREAKFAST – 11th August 2016
Set Menu AIM:
Total number of AIM Companies (Incl Susp): 1,008
Total number of AIM Companies trading: 992*
* As at 10 August 2016
Dish of the Day:
No primary today
No primary today
Off the Menu:
No leavers today
No leavers today
Set Menu ISDX Growth:
Total number of ISDX Growth Market Companies (Incl Susp): *
Total number of ISDX Growth Market Companies trading: *
* As at 10 August 2016
Dish of the Day:
Off the Menu:
What’s Cooking in the IPO Kitchen?
LoopUp—The provider of conference calls and online meetings is seeking to join AIM. 2015 revs of £9.2m and EBITDA of £1.02m
Bacanora Lithium— To list on AIM as holding company for TSX listed Bacanora Minerals at £100m market cap
Aura Energy—ASX listed uranium developer (ASX:AEE) expected to join AIM 6 September
Autins Group plc – The acoustic and thermal insulation specialist now looks to join AIM late August
ValiRx (Val.L) 39p £4.37m
The life science company, which focuses on clinical stage cancer therapeutic development has received regulatory approval for its VAL401 Phase IIB Clinical Trial in Georgia. The approved protocol lists “Tumour progression-free survival” as the primary endpoint. Secondary endpoints include pharmacokinetic measurements; safety and tolerability of the drug; quality of life of the patients and overall survival.
John Lewis of Hungerford (JLH.L) 1.1p £2.05m
The company which designs, manufactures, and retails kitchens, furniture and wall panelling direct to the public has decided to close showrooms in Harrogate and Tunbridge Wells reflecting the Board’s assessment of the prospects for each showroom taking into account their recent financial performance. Both showrooms are expected to cease trading by the end of December 2016. The two showrooms contributed sales, in aggregate, of £370,000 in the last full financial year.
ASA Resource Grp (ASA.L) 0.85p £14.4m
The pan-African resources company has released a Q1 operations and exploration update. Zimbabwe Gold sales up 2% to 14,463oz. Average price up 5% to $1,275. Production of nickel in concentrate decreased in Q1 FY2017 by 31% to 1,555/t, primarily due to a decrease in average head grade and recoveries. In South Africa Diamond sales increased by 73% from 17,440cts. Board expects H2 2016 performance to be stronger than H1 and is confident of progress for the remainder of FY2017.
Griffin Mining (GFM.L) 36.5p £65.35m
H1Jun2016 results show revenues of $20.8 million (2015: $35.2 million) and operating loss of $1.8 million (2015: profit $6.4 million) severely impacted by the suspension of mining until 22nd January following a fatality and disruption caused by the Chinese new year holidays in February resulting in a lack of ore and low grade ore to process in the first quarter of 2016. Revenues were further impacted by relatively low commodity Q1. Q2 saw an increase in volumes/commodity prices and a return to profitability.
Blur Group (BLUR.L) 7.12p £3.36m
The enterprise services platform and marketplace, has released H1Jun2016 interims. EBITDA loss reduced by 54% to $2.1m off a lower revenue base of $560k. Pilot phases, that could lead to wider roll out programs, in progress with a number of large Enterprise customers. Cash down 65% to $4.3m. FY forecasts looking for $1.7m revenues and pre-tax loss of £3.7m.
Noricum Gold (NMG.L) 0.17p £8.15m
The European focused base and precious metals resource development company, has announced a Significant Increase in Size of Gold & Copper Target in Georgia and Agreement for Future Mining/Processing. Initial exploration target between 50 & 70mt @ grades between 0.30% Cu and 1.00% Cu and 0.1 to 1 g/t Au for copper sulphide mineralisation and 0.5 to 5 g/t Au for oxide gold resources given proximity to the Madnueli Deposit and similarities observed there and the Kvemo Bolnisi Project .
Premier Technical Services Group (PTSG.L) 80p £70.5m
The niche specialist services provider has announced an H1Jun2016 trading update in line with expectations. Two recent contract wins, signed by the Group’s Access Installation division for a combined order value of £2.5m, have further strengthened an already healthy order book in this construction related area for 2017 and 2018 and the Group’s testing and maintenance activities continue to see strong work and order levels. Fy2016E PE of 11.7. Yield 1.8%.
LiDCO Group (LID.L) 6.37p £12.4m
H1Jul2016 trading update from the hemodynamic monitoring company. Product revenues up 10% to £3.03m with total revenues (including third party products) up 5% to £3.77m. Net cash inflow during the period was £0.50m with cash at the period end of £2.09m . US going well from a small base. FYJan2017 forecasts project revenues of £8.5m and PBT of £0.2m.
PROACTIS Holdings (PHD.L) 112p £44.6m
The global Spend Control and eProcurement solution provider has provided an FYJul16 trading update. Revenues up 13% to £19.4m. Adjusted EBITDA up 10% to £5.3m in line with expectations. The Group’s strong performance in customer contract renewals, has enabled a substantially strengthened forward revenue visibility: Order book of £26.1m up 32%. Annualised contracted revenue5 of £17.7m up 30%. Seeking further M&A. The shares trade at 20x projected earnings.
Akers Biosciences (AKR.L) 215p £11.66m
The developer of rapid health information technologies has reported H1Jun16 results. Product revenue up 47% to $1,694,510. Sales of flagship PIFA Heparin/PF4 Rapid Assay products up 68% to $1,514,255, With approximately $2 million of sales to Novotek anticipated in the second half. In addition, expects to see contributions from other tests, such as alcohol breathalyzers and BreathScan OxiChek™, gaining momentum. Loss before tax reduced by 26% to $(2,517,861).
0203 764 2344
*A corporate client of Hybridan LLP
This document, which does not constitute research, has been issued 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 objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.
Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, directors, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the UK, this document is directed at and is for distribution only to persons who (i) fall within Article 19(5) (persons who have professional experience in matters relating to investments) or Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).
Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of UK or US securities law, or the law of any such other jurisdictions.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, directors, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX. If you would like to unsubscribe, please email firstname.lastname@example.org with “unsubscribe me”.