AIM Breakfasts

AIM BREAKFAST – 23rd February 2017

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 971

Total number of AIM Companies trading: 951*
* As at 22 February 2017

Dish of the Day:

No AIM Joiners Today

Off the Menu:

No AIM Leavers Today

Set Menu ISDX Growth:

Total number of ISDX Growth Market Companies (Incl Susp): 85*

Total number of ISDX Growth Market Companies trading: 82*
* As at 22 February 2017

Dish of the Day:

No NEX Growth Market Joiners Today

Off the Menu:

No NEX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

Sealand Capital— Publication of prospectus regarding the Reverse Take Over of SecureCom. The business of the Target is the operation of Metalk, a secure mobile communication software application that serves corporate executives and business people across the APAC region . Raising £1.4m at 20p. Readmission to Standard List expected 28 Feb.

Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo.

Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play

Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime.  Issue closing 23 Feb.

 

Breakfast Buffet

Ferrum Crescent (FCR.L) 0.19p £4.08m

The metals developer, announced the results from its internal soil geochemistry and channel sampling at the Toral project, Spain. Detailed mapping, sampling and remodelling work carried out over the last three months has yielded positive zinc results.  The Company also announced a limited, shallow diamond drilling programme to target mineralised zones within 200 metres of the surface, which is expected to commence in Q2 2017. Various mineralisation styles near surface, including: 0.9m @ 10.5% Zn & 2.5% Pb average achieved on main structure within Adit 49, and 1.2% Cu, 6.5% Zn & 13.5% Pb returned from a 1.2m channel sample in Adit 54. 13 hole drill programme plan generated to intersect shallow untested targets within the  main anomalous area.

 

Fitbug Holdings* (FITB.L) 0.16p £2.8m

The digital wellness provider for corporate organisations, yesterday announced a new contract for a one year programme to serve select UK-based employees of an international FMCG (Fast moving Consumer Goods) company. This programme will be administered in collaboration with Olympic gold medallist Sally Gunnell, OBE.

Fitbug can confirm an initial contract value of £36,000 in revenue, but client confidentiality does not allow for the disclosure of further details at this time.

 

Tristel (TSTL.L) 150p £63.6m

HY Dec16 results form the manufacturer of infection prevention, contamination control and hygiene products. Revenue up 22% to £9.75m. Overseas sales up 45% to £4.2m, representing 43% of total sales (2015: 36%). Adjusted EPS before share based payments up 14% to 3.30p. Interim dividend of 1.40p per share (2015: 1.14p), an increase of 23%. Cash of £3.9m (2015: £4.3m) post £1.1m for acquisition. Strategic targets remain achievable including 10-15% average rev growth over next 3 years,  to attain a profit before tax and share based payments margin of at least 17.5%, whilst investing in future growth and to return cash that is surplus to the operational and investment needs of the business in the form of special dividends. FYJun17E rev £19.57m and £3.61PBT, div 3.43p.

 

Empyrean Energy (EME.L) 3.5p £7.76m

The oil and gas company has received the second and final tranche of $2.6m relating to the sale of its  3% working interest in the Marathon Oil operated Sugarloaf AMI. Negotiations with international and domestic contractors for the acquisition of 3D seismic for the Company’s recently acquired 1,800 km2 offshore China conventional Pearl River Mouth Basin Project are progressing well.  Empyrean hopes to finalise negotiations with a view to commencing the programme in Q2. The Project, approximately 200km South East from Hong Kong, is directly South of a large producing field and importantly contains a further ten leads which have been mapped and that will require follow up exploration work.

 

StatPro Group (SOG.L) 90.5p £58.57m

The provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has increased its shareholding in Infovest Consulting (Pty) Ltd, a South African headquartered software provider, specialising in data warehouse, ETL and reporting software for the asset management industry, from 51.0% to 72.7%. The consideration for the additional 21.7% shareholding was ZAR 19.1 million (£1.2 million) in cash. Expected to be earnings enhancing in the current year. The multiple is just under eight times EBITDA. “Since we took a majority share on 1 March 2016, Infovest has experienced a 77% revenue growth and 130% profit growth.” FYDec17E £38.67m and £3.33m PBT.

 

Global Invacom Group (GINV.L) 7.75p £20.12m

FYDec16 results from the  fully integrated satellite equipment provider. Revenue US$127.3 million (FY2015: US$129.1 million) including first full-year contributions from U.S. subsidiary Global Skyware. Gross profit improved 4.5% to US$26.0 million (FY2015: US$24.9 million). Loss after tax US$2.7 million following restructuring of Chinese manufacturing facilities (2015: US$1.1 million loss). Cash and equivalents  stood at US$7.9 million. Net cash generated from operating activities was US$3.2 million compared to US$0.5 million used in operating activities for FY2015; offset by the purchase of property, plant and equipment and the repayment of shareholder loans. Closely monitoring effect of recent political changes on international trade.

 

Monitise (MONI.L) 2.62p £60.16m

HYDec16 results from  the digital technology group specialising in financial services. Revenues down from £33.4m to £28.2m but turnaround from £30.2m EBITDA loss to £0.3m profit. Cash £27.3m from £42.1m at year end. FY revenue decline expected but capital spending to reduce and focus moving to the Company’s FINkit platform which ‘solves the challenge banks face when seeking to accelerate the delivery of compliant digital services to their customers.‘  FYJun16E rev of £58.9m and £16.1m pre-tax loss.

 

Koovs (KOOV.L) 45.5p £79.8m

The fashion-forward business focused on the young Indian e-commerce market  has partnered with Masaba Gupta to launch its latest collaboration of sporty athleisure wear, Masaba X KOOVS. The daughter of legendary West Indies cricketer Viv Richards and Bollywood actress Neena Gupta, Masaba not only has an unparalleled pedigree in India, but is also the go-to designer for many Bollywood stars, renowned for her impeccably-cut feminine shapes and unconventional fun prints.  The launch follows Koovs recent nine-months trading statement with sales up 101% year on year to £13.45 million, over 100% growth in web visits and social followers, and mobile transactions up by 151%.

 

IronRidge Resources (IRR.L) 22.62p £53.9m

Exploration update on its project portfolio in Chad, Central Africa.  4km trenching programme commenced at the Dorothe gold prospect to test the broader 3x1km mineralised zone defined by extensive artisanal workings. Reconnaissance rock chip sampling at Nabagay returns results of 34.1g/t, 3.76g/t, 2.53g/t and 1.9g/t gold over a newly defined target from the regional structural interpretation. “The structural interpretation has been vindicated by a grass-roots gold anomalies without the presence of artisanal workings and provides a valuable platform for future exploration growth.”

 

BOS Global (BOS.L) 7p £4.7m

The software developer focused on optimising employee/individuals’ productivity, provided a sales update following the launch of its first cloud-based productivity apps, BOS Meet and BOS Automate.  Over 200 BOS Meet and BOS Automate seats subscribed for in Australia and the UK since the products were launched in December 2016 and January 2017 respectively.  An Australian multi-national company has subscribed for 100 seats of both products. Agreement entered with London based reseller.  This positive reception bodes well for the launch of our BOS 360 Work Patterns platform as a service, which is planned for May 2017.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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