AIM Breakfasts

AIM BREAKFAST – 22nd September 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1001

Total number of AIM Companies trading: 986*
* As at 21 September 2016

Dish of the Day:

No AIM 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 21 September 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Krispy Kreme UK — Press reports that Alcuin Capital Partners, the owner of the doughnut chain is seeking a London float this year

Air Astana — In the press: Kazakhstan ‘s Air Astana intends to list in Kazakhstan. London a strong candidate for secondary listing

Biffa — Intention to float announcement states that up to £270m is to be raised to pay down debt and historic landfill tax liability

Bacanora Lithium — To list on AIM around 28 Sep as holding company for TSX listed Bacanora Minerals at £100m market cap

Breakfast Buffet

Cambridge Cognition Hldgs* (COG.L) 76.5p £15.6m

Solid financial and commercial progress reported in the neuroscience company’s H1Jun16 Interims. Revenue up 11.3% to £3.26m. EBITDA loss more than halved to £0.11m. Product portfolio growing via complementary distribution agreements, and development of wearable platform, Cognition Kit. Balance sheet strengthened by £1.25m April placing at 37p. Continued revenue growth expected H2. FY2016e forecasts of £7.1m sales and £0.1m PBT.

Venn life Sciences* (VENN.L) 28.25p £17m

The growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announced the appointment of Mary Sheahan as a Non-Executive Director. She has 20+ years senior experience in publicly listed life sciences companies, most recently as Senior VP of Global Integration and Country Manager for Ireland with Perrigo, a NYSE-listed, $13bn market cap leading global healthcare supplier.

Conroy Gold & Natural Resources (CGNR.L) 65p £2.59m

High grade gold and wide intersections reported in the latest drilling results from Clontibret. High grades and wide intersections included 0.50m at 25.85 g/t gold in one of the already known gold zones and 5.75m grading 5.04 g/t gold in one of the newly discovered gold zones. Five new lodes discovered and continuity confirmed in four know lodes. Deposit remains open in all directions. Further support that Clontibret/Clay Lake could host a multi-million oz deposit.

First Property Group (FPO.L) p £m

AGM Statement from the property fund manager and investor. The Company continues to trade well and in accordance with expectations. Funds under management, including those held by the Group, currently stand at some £393 million, an increase of some £40 million since 31 March 2016, benefitting from new UK investments and a £14m rise due to a strong Euro boosting the value of its Polish and Romanian assets.

Secure Property Development & Investment (SPDI.L) 15p £13.5m

The South Eastern European focused property company has reported H1Jun16 interims. Rental income broadly flat at €2.7m. NAV/share at €0.46 vs €0.47. The period saw the Brovary Terminal in Ukraine fully let, adding ~US$150k of monthly Net Operating Income per month ahead of its proposed H2 sale; the refinancing of a retail property in Bucharest which closed post period; and the sale of a non-core residential portfolio in Bucharest.

LXB Retail Properties (LXB.L) 67.25p £113.22m

The Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail investments, has announced proposals for a £30.3m Return of Cash (18p per share). This Return of Cash is enabled by receipts from previously announced transactions concerning the Group’s Ayr, Kingsmead Stafford and B&Q Greenwich investments and follows previous returns of cash of £64.0m earlier on this year in June and £82.6m in June 2015. The company continues to run off its assets.

(UJO.L) 0.19p £5.34m

The company has raised £700k at 0.17p an 11% discount to yesterday’s closing mid price. The intended proceeds from the Placing are to further expand the Company’s portfolio through the acquisition of interests in near term development and production opportunities onshore UK.

Elektron Technology (EKT.L) 6.88p £12.79m

The global technology group has released H1 Jul 16 results. Revenue down 8% to £17.9m. Underlying operating profit excluding Checkit start up costs +22% to £1.1m. Following the sale of Agar the Group has returned a net cash position for the first time in many years. Raised its selling prices after order drop off post Brexit. The first two weeks of September have seen a reversal in performance, with orders ahead of the same period last year. However visibility is limited.

Proteome Sciences (PRM.L) 10.13p £23.22m

A peer reviewed study led by Proteome Sciences, in conjunction with a group of highly respected universities and hospitals, demonstrates the ability of an innovative mass spectrometry (MS) workflow to dramatically improve the ability to detect tau-derived peptides that are directly related to human Alzheimer’s pathology as early stage biomarkers of the disease.

DJI Holdings (DJI.L) 165.75p £344m

The company has proposed a name change to BNN Technology ‘reflecting its strategy to become one of the leading mobile technology providers in China’. Additionally NewNet, which represents DJI’s technology platform and marketing resources in China, has agreed to acquire a 10% stake in its joint venture partner Xinhuatong and transfers its lottery assets into the Xinhuacai joint venture. Will be seeking to change sector from Tourism and Leisure Services.

Head Chef:

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

*A corporate client of Hybridan LLP

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