AIM Breakfasts

AIM BREAKFAST – 13th October 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 996

Total number of AIM Companies trading: 978*
* As at 12 October 2016

Dish of the Day:

No AIM Primary Today

Off the Menu:

Gable Holdings Inc. (GAH.L) cancelled its securities pursuant to AIM Rule 1  

Set Menu ISDX Growth:

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

Total number of ISDX Growth Market Companies trading: *
* As at 12 October 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Biffa— The waste disposal company’s IPO is also now in doubt with the valuation coming under scrutiny according to the press

TI Fluid Systems– has decided not to proceed with its proposed initial public offering at the current time due to market conditions

Van Elle—The geotechnical contractor to the UK construction market is hoping to come to AIM later this month

Ascot Lloyd— The UK IFA is also hoping to join AIM later this month. Ascot Lloyd’s strategy is to grow through a combination of organic growth and further targeted acquisitions.

 

Breakfast Buffet

Cambridge Cognition Hldgs* (COG.L) 80p £16.34m

The neuroscience company has announced new contracts worth  >£0.25m to assess, through CANTAB Connect, the abuse potential of investigational drugs in a new market application for the Company. The contracts announced today will use CANTAB Connect to assess abuse potential in a new, unexplored and growing therapeutic area, which is an extension of the HAL market targeted to date. Since launching CANTAB Connect in 2014 COG has become the leader in Human Abuse Liability assessment technology generating >£3m of revenue.

 

Imperial Innovations Group (IVO.L) 418.75p £675m

FYJul16 results from the  technology commercialisation and investment group.  Quoted net fair value loss of £66.9 million (largely as a result of decline in Circassia share price). However  £69.9 million invested across 33 portfolio companies. The rate of investment has doubled over the last two years. Current year has started well with the £30.6m plus sale of Permasense and 5 year contract to run the I-HUB incubator at Imperial College. Portfolio company Crescendo Biologics signed collaboration and licence agreement with Takeda Pharmaceutical worth up to  $790m. NAV £455.9m.

 

Crimson Tide (TIDE.L) 2.82p £12.64m

The provider of mpro5 ‐ Smart Mobility as a Service, has signed its most significant long term contract with a large UK retailer. Its mpro5 service will be used to ensure store safety, cleanliness and security.  This deployment follows a successfully executed pilot. The contract value is worth over £1.7m of additional revenue over an initial term of 48 months, the largest gross revenue contract in the Company’s history. FYDec2016E revenue £1.8m and EPS of 0.11p. 0.02p dividend.

 

Ideagen (IDEA.L) 55.5p £100.7m

The supplier of Information Management software to highly regulated industries, has, over the past month been awarded three important contracts with new customers in key vertical markets worth a combined value of £1.2m. Two of the new contracts represent key customer wins in the aviation sector. In addition, Medway NHS Trust has selected Ideagen to provide a secure platform which will enable the Trust’s laboratories to electronically communicate with GP practices. FYAPR17E revenues £25.4m,  EPS 3.1p, Dividend 0.2p.

 

Versarien (VRS.L) 10.13p £11.79m

The advanced materials group, has announced the successful completion of a grant funded project focused on graphene enhanced carbon fibre composites with the National Graphene Institute (“NGI”) at The University of Manchester. Following the positive test results from the project the NGI have indicated that they wish to purchase a significant quantity of graphene from Versarien for a specific project with a major OEM. Mar 2017E revenues of £7.6m and pre-tax loss of £0.3m.

 

Kolar Gold (KGLD.L) 1.75p £3.38m

The India gold exploration and mine development company, has entered into a Memorandum of Understanding  to establish a Joint Venture (“JV”) to develop gold exploration and mining assets in Finland. High grade targets within licences covering an area of approximately 24km sq. Potentially cashflow generative within 12 months via bulk sampling. Upfront €300k half cash half shares. €1.35m earn in will get Kolar 50% of JV.

 

Sula Iron & Gold (SULA.L) 0.11p £0.95m

The multi-commodity exploration company focused on Sierra Leon  has conditionally raised $400k at 0.1p. The net proceeds of the Subscription will be used by Sula to advance its Ferensola Gold Project in northern Sierra Leone and for general working capital purposes. The subscription has been taken up by Madini Occidental Ltd, a private company incorporated in the Republic of Seychelles, which is currently owned by Madini Minerals (“Madini”) and Ian Schofield. Madini is bringing a CEO and non-exec to the Board.

 

Iofina (IOF.L) 12.25p £15.63m

The specialists in the exploration and production of iodine and iodine specialty chemical derivatives, has updated the market today on the Company’s Q3 iodine production. The Group produced 125.1 metric tonnes of crystalline iodine in Q3 2016, and has produced 380.7 MT year to date from five IOsorb® plants in Oklahoma. The Group remains on track to meet  production targets of 250-270 MT of crystalline iodine in H2 2016. As recently communicated, Iofina and its partners have completed improvement projects at three plants during the Period.

 

Vianet Group (VNET.L) 94.5p £26.43m

The provider of real time monitoring systems, data management services and business intelligence for the leisure and vending sectors has provided a HYSep16 trading update. Trading is ahead of the comparative period and in line with expectations. Expecting to maintain 1.7p interim dividend. FYMar17E revenue of £14.9m and EPS of 7p. FY divs of 5.7p. 6% yield. 13.6x PE.

 

Goldstone Resources (GRL.L) 2.25p £2.3m

The West and Central Africa focused gold exploration company quoted on AIM, has been made aware that a former director and employee of the Company has made a claim in The Labour Court of South Africa for certain sums relating to the termination of his employment.  The sum being sought would represent a significant proportion of the Company’s current cash resources. The Company is considering the claim with its legal advisers and intends to robustly defend the claim and will make further announcements as and when appropriate.

 

Head Chef:

Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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