AIM Breakfasts

AIM BREAKFAST – 1st September 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,006

Total number of AIM Companies trading: 993*
* As at 30 August 2016

Dish of the Day:

No primary today.

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 30 August 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Misys— The press reports that the Banking Technology provider owned by Vista Equity Partners is seeking a £5.5bn float in London

Bacanora Lithium— To list on AIM around 28 Sep 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

Breakfast Buffet

Metal Tiger (MTR.L) 3.53p £20.2m

The investor in strategic natural resource projects announced a strategic investment totalling £100,000 in Thor Mining (THR.L).  At 0.025p including one for one warrants. Paul Johnson, Chief Executive Officer of Metal Tiger to join the board of Thor Mining as a non-executive director. A drilling campaign has recently commenced at Thor’s Molyhill Tungsten project  in Australia’s Northern Territory where there is an existing 13,100 tonne of contained WO3 reserve plus other metals.

Stilo International (STL.L) 8p £8.99m

The provider of XML cloud content conversion, content processing and authoring tools, today announced its H1 Jun 16 Interim Results. Sales revenues for six months to 30 June 2016 increase by 11% to £874,000.  Increase in EBITDA by 11% to £184,000. Cash position increased by 30% to £1,393,000. Interim dividend up by a third to 0.04p. Trading in 2016 continues in line with management expectations. Stilo continues to invest in the development of innovative new products to underpin future growth. There are no forecasts in the market.

Jaywing (JWNG.L) 30p £22.9m

The UK-based agency specialising in the application of data science is acquiring Leeds based digital marketing agency Bloom Media for an initial £2.4m with an earn out of up to £5.75m. The Acquisition is expected to be earnings enhancing within 12 months from completion. The company has raised £3m  in a placing at 30p. For FYFeb16, Bloom generated gross profit and profit before tax of £1,943,000 and £279,000 respectively. FYMar17E forecasts for Jaywing suggest revenue o £37.7m and EPS of 3.8p.

Water Intelligence (WATR.L) 86p £9.1m

The provider of non-invasive leak detection and remediation solutions,  has acquired NRW Utilities for £575k. NRW brings several synergies to the growth of Water Intelligence’s core American Leak Detection business and reinforces the Company’s Anglo-American partnership. NRW generated revenues of £672k and was breakeven for its first fiscal year ended 29 February 2016. Water Intelligence turned over $8.8m in 2015 with $0.97m PBT. There are no forecasts in the market.

New World Oil & Gas (NEW.L) Suspended

The company has updated on the possible reverse takeover of video analytics company Big Sofa. The Company is continuing to make good progress with the possible reverse takeover of Big Sofa and the Board remains of the view that this acquisition is an attractive proposition for New World shareholders.  Big Sofa is continuing to win new mandates and New World has made a further £100k loan.   The company is seeking to dispose or relinquish its remaining oil and gas asset.

Sirius Minerals (SXX.L) 41.25p £951.8m

Sirius has updated on the financing for its North Yorkshire polyhalite project. Following a market sounding with debt lenders the Company has now mandated a group of six financial institutions experienced in mining and infrastructure project finance as Mandated Lead Arrangers. Once approved the Stage 2 financing is expected to comprise aggregate senior debt facilities of up to US$2.6bn to fund the Stage 2 capital funding requirement and costs relating to financing the Project.  Financial close for the Facilities is expected to take place in 2018.

Vertu motors (VTU.L) 48.5p £192.68m

The automotive retailer with a network of 132 sales and aftersales outlets across the UK, has issued a pre close update for H1Aug106. Robust trading in H1. Profitability up. The Board expects that the Group’s full year results will be in line with market expectations with record revenues and profits. The macro-economic environment of historically record low interest rates and record high levels of employment in the UK provide a favourable economic backdrop for the sector.  No Brexit impact. 7.8x PE and 2.8% yield.

Paysafe Group (PAYS.L) 436.7p £2.1bn

The global provider of payment solutions, is expanding its product capabilities by acquiring Income Access Group, a pioneering affiliate technology business for a cash consideration of CAD40m.  In the last fiscal year to 31 March 2016 of Income Access, the business generated approximately CAD3.3m of profit before income taxes vs £157.8m forecast for the Group in FYDec2016.  The shares are on 15x earnings.

Tissue Regenix Group (TRX.L) 20p £152m.

The regenerative medical devices company has gained Medicare coverage in an additional 10 States covered by Medicare jurisdiction National Government Services (NGS) for the use of DermaPure®. This new coverage adds an additional 7.5 million Medicare beneficiaries and means that Tissue Regenix has now secured Medicare reimbursement in 47 States, totalling 93% of traditional Medicare beneficiaries. Consensus forecasts FY Jan2017 revenue of £3.55m and an £11.7m loss.

ProPhotonix (PPIX.L) 2.88p £2.4m

The high technology designer and manufacturer of LED illumination systems and laser diode modules, is pleased to announce that it will be exhibiting its range of UV LED Curing systems at Label Expo Americas, 13th – 15th September, Booth 3620. In recent months, ProPhotonix has launched the COBRA Cure FX Series of innovative UV LED Curing Systems, designed specifically for UV curing of inks, coatings and adhesives.

Head Chef:

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

*A corporate client of Hybridan LLP

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