AIM BREAKFAST – 2nd November 2016
Set Menu AIM:
Total number of AIM Companies (Incl Susp): 994
Total number of AIM Companies trading: 972*
* As at 01 November 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 01 November 2016
Dish of the Day:
Off the Menu:
What’s Cooking in the IPO Kitchen?
FreeAgent—Schedule one now out from the provider of accounting software to small businesses. Date and quantum of raise still to be disclosed
Civitas Social Housing –Intention to float on Main Market from the first REIT to be listed on the London Stock Exchange offering pure play exposure to social housing
Filta— AIM Schedule One update from the provider of a number of services to national and independent commercial kitchen operators and owners. Targets 4 November listing. Seeking £4.3m new equity plus £1.9m shareholder sale
InnovaDerma* (IDP.L) 107.5p £10.98m
Strong news flow this week from the main market listed UK developer of ‘at-home’ and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation.—FYJun16 results driven by organic growth and transformation of Skinny Tan business. Revenue up to A$8.4m from A$1.05m. PBT of A$0.57m from a loss of A$0.9m.— Successfully entered the US market and secured retail and e-tailer distribution deals for Skinny Tan . Initial roll out to 655 of GNC’s 6000 stores. Available on Soap.com owned by an Amazon subsidiary and Jet.com, a Wal-Mart subsidiary.
Sareum Holdings* (SAR.L) 0.975p £25.79m
FYJun16 results from the specialist cancer drug discovery and development business. Net loss of £1.05m in line with our expectations. Chk1 trials opened in period leading to license deal post-period end. $1.9m up front payment, £300k repayment, up to $88.4m in milestones plus share of sales royalties. TYK2 lead inhibitors show good activity in disease models of rheumatoid arthritis and colitis, & compare favourably with a marketed JAK-family kinase inhibitor. Also being evaluated for Lupus. Post year end successful outcome on TYK2 cancer feasibility study.
Venn Life Sciences*(VENN.L) 22.25p £13.4m
The growing Contract Research Organisation providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, has announced Director share purchases by the recently appointed Chairman Allan Wood. 65,000 shares at 21.5p and 165,000 shares at 21.73p.
Allergy Therapeutics (AGY.L) 23.25p £137.96m
The fully integrated pharmaceutical company specialising in allergy vaccines, today announced that the European Patent Office has granted a broad technology patent relating to the Company’s unique Microcrystalline Tyrosine (MCT) depot adjuvant manufacturing process. This patent covers the novel manufacture and physiochemical characteristics of MCT in combination with one or more antigens, further strengthening the Company’s core intellectual property. FYJun17E revs of £56.4m and £4m pre-tax loss.
Pires Investments (PIRI.L) 3.75p £0.43m
The company seeking to invest principally, but not exclusively in the resources and energy sectors has raised £525k gross at 3p per share, a 20% discount to yesterday’s close. The Proceeds of the Placing are to be used to provide the Company with additional funds for working capital and investments.
Water Intelligence (WATR.L) 81p £8.6m
The provider of non-invasive leak detection and remediation solutions, is acquiring ADV and, pending a regulatory clearance that is expected in the near-term, AWL. Both Australian Companies, located in Sydney, are part of a former franchise of American Leak Detection – a core business unit of Water Intelligence. Total consideration is US$434,000. Based on the trailing twelve months sales and PBT from the end of Q3 2016 to the end of Q3 2015, the acquisitions are anticipated to be accretive to earnings. FY16E Rev £7.48m and 6.36p EPS.
Caledonia Mining Corp (CMCL.L) 118.5p £62m
The 49% owner of the Blanket Mine in Zimbabwe has revised 2016 earnings guidance. Production at the Blanket mine continues as expected and at the current gold price Caledonia expects to meet market revenue expectations. Underlying performance remains in line with market expectations. However FX, share based payments due to increased share price and non-recurring costs relating to the evaluation of investments mean EPS now expected to be below expectations but significantly higher than FY15. FYDec16E rev £43.34m. EPS 19.12p.
Totally (TLY.L) 59p £11.8m
The provider of a range of out-of-hospital services to the healthcare sector in the UK, announced that About Health Limited, a provider of community based dermatology services under contract to the NHS since 2009 and a wholly owned operating subsidiary of Totally, has been awarded a three-year contract renewal following a formal tender process with NHS East Lancashire Clinical Commissioning Group. The Contract is worth £763,633 per annum.
Gaming Realms (GMR.L) 19.02p £53.11m
Q3 trading update from developer, publisher and licensor of mobile real money and social games. Real money net gaming revenue increased by 113% to £5.9 million. Social gaming and licensing revenue increased by 189% to £2.5m. Maiden EBITDA profit of £960k. FYDec16E revenues of £36.3m and pre-tax loss of £2.3m. Fy17E £54.4m revenues and £4.1m pre-tax profit.
Ceres Power (CWR.L) 9.9p £99.67m
The latest iteration of the SteelCell (fuel cells) platform (version 4) has been released to customers on time and on budget, reinforcing the Company’s reputation for successfully executing against its technology roadmap. Higher power density & start-up timescales compatible with vehicle applications have been proven, making the platform increasingly commercially attractive in a growing number of markets. FYJun16E revs of £1m. £12.98m loss.
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 email@example.com with “unsubscribe me”.