AIM Breakfasts

AIM BREAKFAST – 28th October 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 994

Total number of AIM Companies trading: 973*
* As at 27 October 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): *

Total number of ISDX Growth Market Companies trading: *
* As at 27 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

Breakfast Buffet

Physiomics* (PYC.L) 0.02p £1.37m

FyJun16E results from the provider of bio-simulation solutions to the oncology drug development industry. Turnover up 26% to £297k. Loss after adjusted net operating expenses down 6% to £371k. This year, Physiomics continued to build out its client base and extend its modelling and simulation services relationships with key existing clients.  In addition, Physiomics appointed a new Chief Executive Officer with significant deal making experience.

 

Milestone Group* (MSG.L) 1.27p £11.17m

The provider of digital media and technology solutions announced that its subsidiary Nexstar has expanded its unique Alchemy digital media platform to now include a 24/7 online over-the-top TV streaming service, Alchemy TV which goes live today. Milestone will receive a share of advertising revenues generated both through the consumption of media across these channels and from the creation of third party accounts and premium services sold.

 

Inspired Energy (INSE.L) 13.38p £64.85m

The  energy procurement consultant to UK corporates announced that it is conducting a placing of up to 37.7m existing shares at 13.25p from parties including Directors of the company. ‘The principal purpose of the sale is in response to strong institutional demand, which will broaden the Group’s shareholder register and increase liquidity in the Ordinary Shares. The Placing will take place via an accelerated bookbuild.’

 

Entu (ENTU.L) 20.25p £20.25m

The home improvement group providing energy efficiency products and services to homeowners and businesses in the UK, has agreed the disposal of Astley Facades Limited to Duality Group Ltd for £1. The disposal is in line with Entu’s strategic focus on improving the performance of, and driving growth in, its core Home Improvements business. £1.1m EBITDA to be reported as discontinued operations for current year. The Group now expects EBITDA from continuing operations pre exceptional items to be between £2.5m and £2.9m.

 

BMR Group (BMR.L) 7.75p £13.47m

BMR has raised £620k gross at 6.7p per share. The issue carries a 1 for 1 warrant at 7p. The net proceeds of the placing are expected to be invested in the Star Zinc project in Zambia following the exercise of the purchase option and will also be used for general working capital purposes. The placing was conducted following the interest in investing of a long-supporting shareholder in the Company, Lewis Bagga, whose aggregate beneficial shareholding now amounts to 3.6% of the enlarged issued share capital.

 

Independent Oil & Gas (IOG.L) 15.75p £16.17m

IOG has completed the acquisition of 100% of the shares of Oyster Petroleum Limited. Oyster holds the Southern North Sea licences containing the Vulcan East, Vulcan North West and Vulcan South fields, collectively the Vulcan Satellites. The Acquisition increases IOG’s 2C recoverable resources by 320.7 BCF or 53.45 million barrels of oil equivalent.  The Vulcan Satellites require no further appraisal and IOG is progressing exclusive discussions regarding an export route for its SNS gas hubs. £1m upfront. Up to £4m deferred.

 

Northamber (NAR.L) 32p £9.01m

FYjun16E results from the longest established trade-only distributor of IT equipment in the UK.  Reports increase in gross profit to £4.8 from £4.6m, driven by a margin improvement to 7.8%  from just over 7%, against a challenging industry background. Shows the traction in evolving the business. Sales down to £61.8m from £65.4m. Op losses of £1.3m from £0.9m. Cash of £5.4m. Post Brexit gloom not materialised but remains cautious. Focussing on higher margin consultative sales solutions. 0.1p dividend.

 

Mirada (MIRA.L) 4p £5.56m

The audio-visual content interaction specialist, has announced an update on its largest customer deployment.  The rollout of the Iris product across izzi Telecom’s full client base continues to progress well. Furthermore, Mirada has reached a milestone in this rollout with the successful installation of the first 500,000 set-top boxes using Mirada’s software.

 

Distil (DIS.L) 1.35p £6.75m

HYSep16 results from the specialist in premium drinks brands. Revenue increased by 25.7% to £0.67m. Reduction in operating loss of 25.8% to £66k. RedLeg spiced Rum approved by TTB for sale in the USA.  New listings for RedLeg in two major retail groups. New listing for Blackwoods Vintage Dry Gin in major UK retailer. Cash of £0.88m. FYMar17E forecasts of £1.5m and PBT of £0.12m look beatable given seasonality and new listings. GBP invoicing and drive to source local ingredients has softened impact from Sterling devaluation.

 

BNN Technology (BNN.L) 144p £295.6m

The Chinese technology, content and services company, announced that it has submitted an initial application to list its American Depositary Shares on the Nasdaq stock market.  ‘Trading in the Company’s shares on AIM is not affected in any way by this filing.’ The company is targeting a full Nasdaq listing in due course. FY16E revenues of £15.2m and £2.1m pre-tax loss. Fy17E suggesting high growth. Revs of £85.1m and £47.1m PBT.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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