AIM Breakfasts

AIM BREAKFAST – 16th November 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 994

Total number of AIM Companies trading: 970*
* As at 15 November 2016

Dish of the Day:

FreeAgent Holdings (FREE.L) has joined AIM raising £10.7m at 84p

Off the Menu:

No Aim 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 15 November 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

United Global—According to Arabian Business the merged UAE Exchange/Travelex is seeking a LSE float in Q3 2017 with 30% of the shares to be made public

Diversified Gas & Oil—The US based gas and oil producer is seeking a December AIM quoting to raise circa $60m


Breakfast Buffet

AB Dynamics (ABDP.L) 467.5p £83m

FYAug16 results from the designer, manufacturer and supplier of advanced testing systems and measurement products to the global automotive industry. Revenue increased 23.9% to £20.5 million. Operating profit increased 16% to £4.4 million. Final dividend of 1.815 pence per ordinary share, 3.025 pence for the year up 10% . Order book covers revenues to Q3 2017. FYAUG17E revenue £24.5m, EPS28p, Dividend 3.3p  16.7xPE 0.7% yield.


Ergomed (ERGO.L) 126p £50.23m

The provider of specialised services to the pharmaceutical industry and the development of new drugs noted that its co-development partner Modus Therapeutics Holding AB has announced that following a planned safety review by an independent Data Safety Monitoring Board, adolescents between the ages of 12 and 18 can now be enrolled in its ongoing Phase II clinical study with sevuprin in Sickle Cell Disease.  In addition, the Company has decided to expand the study sample size to 150 patients with top line results now expected in H1 2018 rather than in H1 2017.


Toople (TOOP.L) 5.25p £5.25m

Trading update from the main market  listed  provider of bespoke telecom services to UK SMEs. Since the launch of in May the Company has been steadily increasing the number of customers it attracts to its platform, and is now provisioning over 200 new orders on average per month. The Directors are targeting a significantly increased average monthly order rate during 2017.  Recently  accredited by >30 of UKs biggest B2B cashback and comparison sites including; uSwitch, Quidco, Topcashback, & Broadband Genie.


Georgian Mining Corp (GEO.L) 8.25p £3.95m

The Company has raised £2.6m by way of an oversubscribed placing  at 8p. The net proceeds of the Placing  will be used to facilitate the Company’s strategy to deliver an initial resource of between 3 and 5 million tonnes of open pit copper-gold sulphide mineralisation at the Kvemo Bolnisi Copper-Gold Project in Georgia  together with gold oxide mineralisation that has been reported previously. This will enable the use of 1M tonnes annual excess capacity which is available at its partner’s flotation plant  at the producing Madneuli Mine, just 7km from the project .


Horizon Discovery Group (HZD.L) 125p £119m

The specialist in the application of gene editing technologies, announced that it has entered into  partnerships with three leading Chinese diagnostic kit developers. Under the terms of the agreements, Horizon will provide HDx Reference Standards for novel Next Generation Sequencing assay development, clinical trials, and ultimately for inclusion as in-kit controls under Original Equipment Manufacturer  agreements.  FYDec16E revenue of £24.96m and a £10.7m pre-tax loss.


Koovs (KOOVS.L) 63p £94.3m

Koovs  announced a strategic investment from the Times of India Group (£3.9m) as part of a further £10.9m of new funding, and up to an additional £2m via Broker Option. This capital raise is part of the final tranche of the Company’s three-year investment programme to raise approximately £35 million, announced in September 2015.  It brings the total raised under this programme to £31 million to date. The issue price of this latest round is 50p. FYMar17 in line. Consensus revenue £18.4m, £17m pre-tax loss.


Frontera Resources (FRR.L) 0.1p £7.93m

The independent oil and gas exploration and production company, announced that its fully owned subsidiary Frontera Resources International LLC has been chosen as winner of the bidding for exploration and production of hydrocarbons in the Republic of Moldova. The exploration and development agreements  are subject to both Frontera Resources International LLC and the Government of Moldova negotiating suitable terms for the exploration and development of hydrocarbons outlined in the initial bidding process.


European Metals (EMH.L) 33.5p £41.5m

EMH has announced analytical results for the confirmation drillholes CIW-13, CIW-14 and CIW-18 at the Cinovec Lithium-Tin-Tungsten Project  which all confirmed or exceeded the expected lithium content and mineralisation widths.   The best results are from CIW-14: 82m averaging 0.48% Li2O, and 175m averaging 0.40%Li2O.  The first interval includes high-grade intervals 4m @1.07%Li2O and 4m @1.58%Li2O. Cinovec in the Czech Republic is the largest lithium deposit in Europe and the fourth largest non-brine deposit in the world.


Lightwave RF (LWRF.L) 21p £4.32m

The proprietary IOT platform and connected devices specialist enabling the remote control and monitoring of light, heat, power and security through just one App, has raised £1 million (before expenses) through a subscription at 13p.  A 7.1% discount to the average price over the last 30 trading days. The Subscription proceeds will be used to further develop the sales and marketing activities of the business as well as accelerate new product development.


IXICO (IXI.L) 24.5p £6.49m

The brain health company, announced its participation in a new collaborative pan-European research effort under the Innovative Medicines Initiative’s  umbrella focused on addressing the challenges of successfully delivering therapies to people with Alzheimer’s disease. In this collaboration with leading pharmaceutical companies and academics, IXICO is receiving 100k of funding to undertake data aggregation & analysis using its digital technology platforms. There are no forecasts in the market.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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