AIM Breakfasts

AIM BREAKFAST – 2nd February 2017

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 972

Total number of AIM Companies trading: 946*
* As at 01 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 01 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?

Arix Bioscience — Intention to float on the main market from the  global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management

Eco (Atlantic) Oil & Gas—Schedule One Update. Now expects admission ‘early February’.

Ramsdens Holdings –Schedule One from the financial services provider and retailer, operating in the core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. Expected admission to AIM 15 Feb raising circa £15.6m. Expected mkt cap £26.5m.

 

Breakfast Buffet

DagangHalal (NEX:DGHL) 26.5p £15.5m

Update from the world’s first global e-marketplace to address the need for Halal verification. Ali Sabri Sani Abdullah moves from CFO to CEO and 2 new non-execs appointed. Since October 2016, the Company has already made significant process and has recently launched the Halal Application Approval System (HAAS) to complement the existing Halal verification portal, Halal Verified Engine (HVE). HAAS is an e-Halal application system that enables recognised Halal certification bodies worldwide to manage the life cycle of Halal applications by companies seeking Halal certification. The first sale of HAAS has already been made to the Halal Food Authority in the UK and there is an active pipeline of target certification bodies. New revenue channels launched/launching in 2017.

 

Gattaca (GATC.L) 299.75p £92.69m

The specialist Engineering and Technology recruitment agency, has acquired a majority stake in Resourcing Solutions Limited, a niche engineering recruitment business. RSL is expected to generate NFI of £7.5m and underlying EBITA of £2.0m in the 12 months to 31 January 2017. Over the same period approximately 88% of RSL’s Net Fee Income was generated from contract placements, with the balance from permanent recruitment fees. The Acquisition is expected to be immediately earnings enhancing for Gattaca. The initial consideration is £6.9m for a 70% stake. The maximum total consideration payable is £15.0m (performance linked). FYJul17E EPS of 39.35p and div of 23.25p. PE of < 8x and 7.7% yield.

 

Plexus Holdings (POS.L) 83p £87.47m

The oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announced that its existing contract to supply wellhead and mudline equipment to Brunei Shell Petroleum Sdn Bhd has been extended by an additional two years.  The extension covers the supply of both Plexus’ High Pressure/High Temperature and standard pressured Wellhead and Mudline systems and services, which are proven to be superior in terms of performance, reliability and safety. “Thanks to a debt free balance sheet, and despite our recent trading update, Plexus is well placed for when sentiment recover.”

 

Mkango Resources (MKA.L) 5.75p £2.62m

Update on the 100% owned Thambani uranium project in Malawi.  Following recent management site visits, Mkango plans to commence its 2017 exploration programme in the Thambani licence area during the first quarter. The programme will comprise follow up of the results of the World Bank airborne geophysics survey reported in 2016 and of previous exploration programmes completed by Mkango, and will include but is not limited to further mapping, soil and rock chip sampling, trenching and ground truthing of new geophysical anomalies. Whilst uranium (and associated tantalum and niobium) is the primary focus of the exploration programme, Mkango will also evaluate the licence for its lithium potential.

 

Kodal Minerals (KOD.L) 0.44p £23.1m

The mineral exploration and development company focussed on West Africa has received the first assay batches for the reverse circulation drilling programme at the Bougouni lithium project, Southern Mali. First drill hole at the Ngoualana prospect has returned 21m at 1.7% Li2O from 62m depth, including a high grade core of 12m at 1.81% Li2O from 69m. 250m+ strike length intersected. Results from 7 holes awaited. High grade assays too at Sogola and Kola although narrower veins than at Ngoulana. “Busy exploration programme planned for the months ahead, with a focus on our lithium projects at Bougouni and Diendio.” Working towards a maiden resource.

 

Crimson Tide (TIDE.L) 3.13p £14.17m

The provider of mpro5, Smart Mobility as a Service, updated the market on its progress with international expansion. Key sales hire in Western Europe. Company has signed an agreement with BCB (British Centres for Business) in Dubai, to take advantage of its Incubator Programme. In the US. Crimson Tide will shortly join RX360, the trade organisation which includes 18 of the world’s top 20 pharmaceutical companies and many of their global suppliers. The Company has entered into a Memorandum of Understanding with Mobilise IT in Melbourne. This partnership will see Mobilise IT include mpro5 in its business strategy, as well as offer first line support. FY17E rev £2.5m, PBT £1m.

 

Sula Iron & Gold (SULA.L) 0.33p £6.74m

The multi-commodity exploration company focused on Sierra Leone, provided an operational update and grab sample assay results for the Ferensola Gold Project.

Highlights:

  • Two drill rigs en route to Sierra Leone from South Africa;
  • Oxide ore collected from the Eastern Target of the Ferensola Gold Project returns a grade of 4.8g/t Au and the artisanal dump samples from an adjacent river returned grades of up to 11.2g/t Au; and
  • Significant preparatory work completed at the Dalakuru exploration camp ahead of the planned drilling programme.

 

HML Holdings (HMLH.L) 41.5p £18.52m

Provider of property management, insurance and ancillary services to residential property blocks, has acquired Goodacre Property Services Limited (GPS), a property management business based in Keston Kent. For £317k. The transaction includes an additional performance related retention payment of £80,000 which will be subject to the achievement of certain criteria and will be payable 12 months from the acquisition date. GPS produces normalised annual revenues of £300,000. It is expected that GPS will be earnings enhancing once it has been fully integrated into HML. This  is the first of the three potential acquisitions referred to in HML’s announcement on 16 December 2016. 11xPE.

 

Anpario (ANP.L) 280p £64m

FYDec16 trading statement from he international producer of natural feed additives for animal health, hygiene and nutrition. Anpario delivered a strong and improved second half revenue and adjusted profit performance in line with market expectations. During the year the Group has started to implement a number of strategic initiatives including a new senior management structure and the investment in new direct operations in key target markets to drive global and regional development opportunities. This has resulted in exceptional costs being incurred in the period. Y/e cash £10.4m. FYDec16E rev £24.5m, PVT £4.1m, Div 5.5p.

 

Tissue Regenix (TRX.L) 19.75p £150m

The regenerative medical devices company announced that DermaPure® a decellularized dermal allograft, utilising Tissue Regenix’s patented dCELL® Technology, has been included on the US Department of Veteran Affairs Federal Supply Schedule via their distribution agreement with ERA Health LLC dba Veteran’s Health Medical Supply. The FSS services the largest integrated healthcare system in the US, covering almost 9 million lives, many being military veterans, and includes 152 hospitals and 800 community based outpatient clinics. This further strengthens the commercial position of DermaPure® within both the inpatient and outpatient settings.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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