AIM Breakfasts

AIM BREAKFAST – 25th November 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 993

Total number of AIM Companies trading: 968*
* As at 24 November 2016

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): 83*

Total number of ISDX Growth Market Companies trading: 78*
* As at 24 November 2016

Dish of the Day:

No ISDX Growth Market Joiners Today

Off the Menu:

No ISDX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

i3 Energy Investment—According to its investor Glenwick (GWIK.L) i3 will seek an AIM admission once its license has been approved by the UK Oil & Gas Authority

Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November

Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December.

Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.

Breakfast Buffet

Sandal (ISDX:SAND) 30.5p £5m

AGM Statement from the designer, developer & manufacturer of electronics. “Trading since the start of the financial year has been in-line with the  Board’s expectations and is within the forecasts contained in Daniel  Stewart’s research note published on 18 October 2016. Since the end of the financial year under review, the Company has announced the integration of its Energenie MiHome products with the Nest Intelligent Learning Thermostat and the Amazon Echo range of home automation products which should enable the Company to maximise sales for its MiHome Home Automation product range.”

InnovaDerma* (IDP.L) 75p £7.76m (Main Market)

The UK developer of ‘at-home’ and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation, has raised £539,999.60 before expenses at a price of 70p, with institutional shareholders. The net proceeds of the fundraising will provide the Company with working capital to fund growth into European and US markets and improve supply chain management to meet growing demand for Skinny Tan, a premium self-tanner brand that contains a natural tanning active, to tan and reduce the visible appearance of cellulite

Regency Mines (RGM.L) 0.47p £1.56m

The natural resource development and investment company announced a Heads of Terms has been signed by  acquire a significant shareholding in Carbon Minerals Corporation Company which has entered into an agreement to acquire the Rosa metallurgical coal mine located in Alabama, in the Warrior Coal Basin.  CMC paying $1.65m. Regency to conditionally pay $250k in total for 20%. Phase 1 of the Rosa Mine project contains Proven Reserves of 453,000 tons of coal at an average 14,070 BTU/lb with 5.14% average moisture content and 4.45% average ash content.

Manx Financial group (MFX.L) 7.12p £7.27m

Edgewater Associates Limited, a wholly owned subsidiary and the Isle of Man’s leading retail IFA, has entered into an agreement with Knox Financial Services Limited, to acquire the majority of the Island’s IFA business held by Knox. The initial acquisition includes approximately 4,000 clients together with 6 members of staff, generating an anticipated annual renewal income of up to £0.3 million. An option has been entered to buy the remainder of the vendor’s IFA business.  The combined consideration of £1.7m is 4x renewal income. Accretive to normalised operating profit by circa £0.4m.

Origin Enterprises (OGN.L) €6.05 €759.8m

Trading update from the Agri –Services Group for the quarter to October 2016. Origin had an encouraging start to the 2017 financial year with all businesses performing well in the seasonally quiet first quarter. A combination of generally favourable weather conditions and an improved planning environment for primary producers in the period in key geographies led to good early season activity levels on-farm, resulting in higher demand for the Group’s services and inputs. Revenue up 11% to €333.6m. Positive outlook despite subdued sector sentiment. FYJul17E rev £1.5bn and PBT of £62.2m.

Zambeef Products (ZAM.L) 19.63p £48.67m

Record results from the fully integrated agri-business with operations in Zambia, Nigeria and Ghana. Profit After Tax of ZMW157.4 million (USD14.5 million), compared with a loss of ZMW54.6 million (USD7.7 million) for the same period last year; Group debt reduced by 23.6 per cent. from USD72 million (2015) to USD55 million (2016); Zambeef now has the ability once again to invest in growing its business, accelerate the roll-out of its new macro stores and expand its production capacity in order to meet the growing demand for its products, both in Zambia and in the surrounding SADC/COMESA regions.

Gresham House Strategic (GHS.L) 752.5p £27.75m

H1 Sep16 results from GHS, which invests primarily in UK and European smaller public companies.  New investment of growth capital in Northbridge Industrial Services plc and subsequent increase in stake to 10.9% . Significant second investment of growth capital in Be Heard backing the acquisition of MMT Digital, increasing stake to 10.6%. NAV/share up 8.5% outperforming benchmark by 2%. Circa 15p per share available for return to shareholders according to the policy to return half of net profit on realised gains on investment.

Ithaca Energy (IAE.L) 83p £342.3m

Update on the on-going Stella field commissioning programme and the expected schedule for start-up of production.  Activities on the offshore commissioning programme for the FPF-1 floating production facility are well advanced and preparation for start-up of the Stella field is on-going.  During routine inspections, faults on a number of electrical junction boxes on the vessel’s processing facilities have been identified and a programme of necessary repairs is underway.  All other preparations are on plan.  Start-up is now anticipated in early January 2017, upon completion of this additional work.

Proxama PLC (PROX.L) 1.03p £17.64m

The mobile proximity marketing experts, today announced that Alzheimer’s Research UK has used beacons to promote its ‘Santa Forgot’ Christmas campaign to boost awareness and donations for the charity. The ‘Santa Forgot’ campaign kicked off with national TV and multimedia promotion last week. The charity used Proxama’s beacon network to share their promotional video across taxis, cinemas and convenience stores – both in-app and via the Physical Web – to Londoners via their smartphones.

CloudTag (CTAG.L) 22.25p £32.24m

The company that brings personal monitoring to the wellbeing, fitness and digital health markets, has entered into an agreement with Griffin International Companies Inc. which is part of the CITIES Market Studios Group (CITIES), for it to act as the Company’s sole and exclusive sales representative to sell all of the Company’s products to customers identified by CITIES. CITIES is believed to be one of the largest commercialisation and distribution players with over 30 years’ experience in North America.  There are no forecasts in the market.

Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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