AIM Breakfasts

AIM BREAKFAST – 30th November 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 992

Total number of AIM Companies trading: 966*
* As at 29 November 2016

Dish of the Day:

dmission of Warpaint London (W7L), specialist supplier of colour cosmetics . Oversubscribed £23m placing.  Pre-money valuation of 1.8x  rev and 7.2x EBITDA.

Off the Menu:

Digital Globe Services (DGS.L) has left AIM following a cash offer

Set Menu ISDX Growth:

Total number of ISDX Growth Market Companies (Incl Susp): 84*

Total number of ISDX Growth Market Companies trading: 80*
* As at 29 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?

Asia Pacific Investment Partner  – The research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December

RM Secured Direct Lending  –  The secured direct lending fund  intends to float on the Main Market on 15 December raising up to £100m

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

Shepherd Neame (ISDX:SHEP) 1260p £187.2m

The Kent-based brewer, pub and hotel operator, announced the acquisition of Village Green Restaurants Limited from Alex and Helen Bensley for a total consideration of £11.85m. The last audited accounts for the year ending 31 October 2015 for the acquired company showed annual turnover of £6.6m and operating profit of £0.9m.  At the same time, the Shepherd Neame’s existing revolving credit facility has been extended by £25m to £45m taking total committed banking facilities to £105m.


Breedon Capital (BREE.L) 74.37p £1.05bn

The UK’s largest independent construction materials group, has entered into a binding agreement to acquire the Sherburn Minerals Group for a total consideration of up to £15.7 million.  Sherburn is a leading independent heavyside building materials business headquartered in County Durham, employing approximately 110 people. Sherburn reported an underlying EBITDA of £1.8m on revenues of £16.1m in FYMar16.  Has also issued a strong trading update.  FY EBIT likely to be ahead of market expectations. FY16E rev of £457.3m and £48.96m PBT.


Jersey Oil & Gas (JOG.L) 121p £10.24m

The independent upstream oil and gas company ‎focused on the UK Continental Shelf  region of the North Sea, has conditionally raised,  approximately £1.6 million  in an oversubscribed placing at 110p. The proceeds will be used towards technical studies and evaluation in support of the committed exploration well to be drilled on UK Seaward Licence P.2170, Blocks 20/5b and 21/1d (the “Verbier Well”) planned in Summer 2017 and general working capital purposes.


WH Ireland Group (WHI.L) 121p £31.7m

The financial services company offering Private Wealth Management, Wealth Planning and Corporate Broking services has completed a £1.58m placing at a price of 123p primarily from existing shareholders.


Scholium Group (SCHO.L) 35p £4.76m

HYSep16 results from the  group of companies involved in the retail and trade of rare books, works on paper and fine art.  Revenue down 36% to £2.1m. Pre-tax loss of £0.2m vs breakeven. The business suffered from a slowdown in material discretionary purchases by customers in the three months surrounding the Brexit referendum. In August and September there was renewed interest in stock, particularly from non-Sterling buyers. The pick-up in sales has continued. Nevertheless the board is taking action to reduce both the size of its operating costs and stock of rare books.


Richland Resources (RLD.L) 1.25p £2.78m

The gemstones producer and developer, announced an update in respect of its sales and marketing strategy for its wholly owned Capricorn Sapphire mining operations in Australia.  Total Q4 2016 sales of US$379,000 to date, comprising both rough untreated material and test sales of both heated as well as cut and polished non-blue sapphires.  Continuing on its vertical integration sales and marketing plan, relationships for heat treatment and cutting and polishing have been entered into in Thailand.

Bezant Resources (BZT.L) 1.58p £3.24m

The mineral exploration and development company, announced that initial gold and platinum has been recovered via its exploration processing plant on site at the FKJ 083 licence area in the Choco Province of Colombia. To date, 22 test pits have been excavated to depths from 4 to 12 metres. A total of 95 individual samples of between 0.25 and 1.0 loose cubic metres have been extracted from 22 test pits. Visible gold and platinum have been observed in the final sample concentrates. The selected sample concentrates will shortly be sent to an independent laboratory for assaying to verify the gold and platinum grades.


Northern Petroleum (NOP.L) 3.13p £4.64m

The Company has disposed of 25% of its Canadian Licences, 10% of its Italian offshore exploration permits and 25% of its onshore Australian Licence   for a consideration of US$2.5 million in cash and the application of US$0.25 million of well stimulation services. The buyer (H2p considered a strategic investor), has been granted options to increase these stakes. It has also proposed to raise £5.1m at 3.5p.


Croma Security Solutions Group (CSSG.L) 30p £5.07m

Croma Vigilant, the ex-military security division of CSSG, has announced a contract win with South Essex NHS Trust for the provision of security services. Additionally, Croma Vigilant recently won the Training Initiative Of The Year award at the 2016 Security and Fire Excellence Awards for its work within the NHS.


REDX Pharma (REDX.L) 43p £40.29m

The drug development company, will present the pre-clinical profile of its Porcupine inhibitor RXC004 at the 28th European Organisation for Research and Treatment of Cancer, National Cancer Institute  and American Association for Cancer Research  Symposium in Munich, Germany, on 30 November 2016.  Pre-clinical studies are ongoing to determine the effect of RXC004 on the immune response to cancer. REDX is progressing studies to prepare the program for first in human clinical trials aiming to commence these, initially monotherapy, trials early 2017.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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