AIM BREAKFAST – 27th October 2016
Set Menu AIM:
Total number of AIM Companies (Incl Susp): 992
Total number of AIM Companies trading: 974*
* As at 26 October 2016
Dish of the Day:
No AIM Joiners Today
No AIM Joiners Today
Off the Menu:
No AIM Leavers Today
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 26 October 2016
Dish of the Day:
Off the Menu:
What’s Cooking in the IPO Kitchen?
Misys—’Despite encouraging institutional support Misys Group Limited has decided not to proceed with its potential initial public offering at the current time due to market conditions.‘
BB Healthcare Trust targeting a £200m issue on the main market. BB Healthcare will be a high conviction, long-only investment trust invested in listed or quoted global healthcare equities.
Filta— AIM Schedule One from the provider of a number of services to national and independent commercial kitchen operators and owners. Targets early November listing. Capital raising plans as yet undisclosed
Venn Life Sciences* (VENN.L) 21.5p £12.95m
The growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announced that the sale of Innovenn UK Limited for up to £4.74m was approved by shareholders at yesterday’s General Meeting.
OneView Group (ONEV.L) 4.13p £14.5m
The omni-channel mobile point of sale provider has signed an agreement to provide cloud-based point of sale, inventory, replenishment and promotions to Molton Brown, one of the world’s most widely recognised and respected luxury brands, whose ultimate parent company is Kao Corporation, a chemical and cosmetics company listed on the Tokyo Stock Exchange and headquartered in Japan. The deal is OneView’s second cloud-based hosting service contract to be signed this year.
Futura Medical (FUM.L) 65.5p £64.91m
The healthcare company focused on advanced transdermal technology intends to conduct a placing at a price of 57 pence per share, to raise up to £12 million. A 13% discount to yesterday’s close. The Placing Shares are being offered by way of an accelerated bookbuild. The Board believes that the Group requires and would benefit from additional finance to enable it to accelerate its growth strategy, in particular for the MED2002 (erectile dysfunction) programme and also for the pain relief products.
Symphony Environmental Technologies (SYM.L) 4.13p £6.18m
Symphony announced the successful presentation and launch of new antimicrobial, insecticidal, anti-rodent, odour absorbers and flame retardant products and technologies at the K-Show, in Dusseldorf, Germany. Symphony also introduced a new compostable plastic product, which complies with European and American standards. Symphony left ‘Dusseldorf with more than 20 exciting new commercial trials and development projects to progress’. FY16E revenues of £5.4m and £0.1mPBT.
Ten Alps (TAL.L) 0.8p £3.36m
The producer of high-quality television and radio together with integrated publishing and communications content (proposed name change Zinc Media Group) intends to raise £807.8k at 0.75p by way of an accelerated bookbuild. A 6.25% discount. The Company has also secured a £432.9k long term loan and is seeking to defer existing debt payments to December 2020. The proposals are subject to shareholder approval.
CareTech Holdings (CTH.L) 276.5p £177.4m
The provider of specialist social care services in the UK has announced a FY30Sep trading update. Trading for the year is in line with market expectations. During the year, 74 additional beds in reconfigured services and new services have been brought into capacity. These beds have a higher contribution than the beds pre-reconfiguration and are part of the ongoing strategy to enhance fees and margins. Including acquisitions there was a net capacity increase of 203 places to 2.319. FY16E rev £147m, EPS 33.6p, Div 8.97p.
Magnolia Petrolium (MAGP.L) 0.51p £1.68m
The US onshore focused oil and gas exploration and production company, has raised £225k at 0.1p. 225m warrants exercisable at 0.15p have also been granted. The proceeds of the Placing will be used to fund current drilling commitments on its acreage in proven US onshore hydrocarbon formations, such as the Woodford and Mississippi Lime in Oklahoma.
Versarien (VRS.L) 11.63p £13.54m
The advanced materials group has announced the participation of the Company’s subsidiary, 2-DTech Ltd, in a new project funded by the EPSRC (Engineering and Physical Sciences Research Council). The project “2D Materials for Next Generation Healthcare Technologies” aims to further explore how graphene can improve major health challenges, such as cancer, diabetes and dementia, utilising £5.2m of funding from the EPSRC over the next 5 years.
Stobart Group (STOB.L) 154.25p £531m
Strong interims from the main market listed infrastructure and support services group. Revenue from continuing operations up 13% to £65.3m. Underlying EBITDA increased by 102% to £20.2m. Underlying PBT up 252% to £16.2m. Post period end heads of terms signed with CityJet to operate flights to up to 18 new destinations starting April 2017, bringing up to 600,000 new passengers through our award winning London Southend Airport. FYFeb17E PE 26.6x yield 7.1% yield. Strong asset backing.
EG Solutions (EGS.L) 44p £9.98m
The back-office workforce optimisation company, has signed its first direct contract in the Asia Pacific region with a leading financial services group, headquartered in Singapore. This contract is worth approximately £500,000 with circa 50% of the contract value expected to be recognised in the current financial year. There is imminent potential for this contract to be expanded further. FYJAN17E revenues £8.19m, PBT £0.38m.
0203 764 2344
*A corporate client of Hybridan LLP
This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.
Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, directors, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the UK, this document is directed at and is for distribution only to persons who (i) fall within Article 19(5) (persons who have professional experience in matters relating to investments) or Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).
Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of UK or US securities law, or the law of any such other jurisdictions.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, directors, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX. If you would like to unsubscribe, please email firstname.lastname@example.org with “unsubscribe me”.