AIM Breakfasts

AIM BREAKFAST – 30th September 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,001

Total number of AIM Companies trading: 986*
* As at 28 September 2016

Dish of the Day:

No AIM Primary Today

Off the Menu:

Bankers Petroleum (BNK.L) leaving AIM following a takeover

Set Menu ISDX Growth:

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

Total number of ISDX Growth Market Companies trading: *
* As at 28 September 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Catch of the week

Congratulations to Sareum Holdings* (SAR.L) who saw its first clinical candidate Chk1 Inhibitor CCT245737 (27.5% owned) secure a license deal with ProNAi Therapeutics for an upfront payment of $7m to the Company and its partners, with milestones of up to $319.5m plus high single to low double digit royalties on the net sales of any product successfully developed.

TI Fluid Systems — The manufacturer of automotive fluid storage, carrying and delivery systems  is seeking a main market float to raise up to €600m to pay down debt.

Mila Resources—The natural resources focused company has published a prospectus  in relation to a main market listing and £1.1m raise at 5p.

Krispy Kreme UK—Press reports that Alcuin Capital Partners, the owner of  the doughnut chain is seeking a London float this year

Biffa— Intention to float announcement states that up to £270m  is to be raised to pay down debt and historic landfill tax liability.

 

Breakfast Buffet

Crossword Cybersecurity* (ISDX.CCS) 195p £4.65m

The ISDX listed  technology commercialisation company focusing exclusively on the cyber  security sector, yesterday announced a partnership with the University of South Wales, Department of Computing and Mathematics, its sixth such agreement with leading academic research  institutions in the sector. The University is a global leader in cyber security forensics, working closely with national security agencies and the Metropolitan Police.  This partnership enables Crossword to provide its clients with Cybersecurity Forensics.

 

Ncondezi Energy (NCCL.L) 5.75p £14.37m

H1 Jun 2016 numbers from the developer of an integrated coal mine and power plant in Mozambique. A loss of $1.1m, The ley highlight of the period is the binding joint development agreement with Shanghai Electric Power,  which has the development and operational experience to deliver the c.US$1 billion 300 MW  plant alongside the existing Ncondezi team. Financial close is targeted for H2 2017. The existing cash resources of US$0.8 million together with the undrawn unconditional facility of US$0.1 million are expected to support ongoing operations until Q1 2017.

 

Helios Underwriting (HUW.L) 201p £18.06m

Proposed placing of up to £5.25m at 150P by way of an accelerated book-building process. In addition, up to a further £3.2 million may be raised by way of a conditional Open Offer to existing shareholders On a 1 for 5 basis. Helios intends to use the proceeds of the Placing and the Open Offer to provide additional funding to continue to expand its portfolio of capacity that participates on syndicates at Lloyd’s. The directors and an existing shareholder have indicated material participation.

 

1pm (OPM.L) 66p £34.67m

AGM Statement from the  specialist independent provider of finance facilities to the SME sector. “Following another successful year ended 31 May 2016, which produced good organic and strategic growth, the Board is pleased to report that this positive trading momentum has continued into the current financial year.  Trading and financial results for the first quarter ended 31 August 2016, were in line with management’s expectations.  FY May 17E forecasts of £16.5m revenue and 6p EPS. 11.7xPE and 1% yield.

 

Plus500 (PLUS.L) 642p £737.6m

The online service provider for retail customers to trade CFDs internationally, has been granted a licence to operate an online trading platform for retail customers to trade CFDs by the Israel Securities Authority. The Shares are on a FY2016E PE of 10.1x with a yield of 6.9%.

 

Craven House Capital (CRV.L) $8.88 $19.74m

The frontier and emerging market focused merchant bank has provided a $1,500,000 convertible loan  to FMCD Ltd, a company specialising in the import, distribution and sale of lubricants and food products into Angola. The loan has a term of one year, and carries an interest rate of 5%. Upon maturity, the loan will be repaid, renewed or is convertible for up to 10% of the equity in FMCD at the discretion of Craven House. FMCD has distribution agreements  with a number of multi-nationals operating in the area.

 

 

Obtala (OBT.L) 12.75p £33.57m

Q3 update from the he African focused agricultural and forestry company. Highlights include: Dynamic leadership team identified, hired and now operational;  Disposal of non-core loss making assets; Both Agricultural and Forestry businesses exceeding internal expectations, management confident about viability of each division; Meradell structure to be converted into newly issued Argento Preference Share.  Further raising via Preference share possible.

 

Sphere Medical Holding(SPHR.L) 11.5p £16.3m

The innovative point-of-care monitoring and diagnostic devices company has announced that all four components of its Proxima 4 device have received CE mark registration, enabling market launch in Europe. Proxima 4 is the new generation of Sphere’s innovative patient-connected device used for measuring blood gases, electrolytes and metabolites.  Enhancements include the addition of glucose and sodium to the panel of analytes, and a number of important usability improvements.

 

Charlemagne Capital (CCAP.L) 12p £34.9m

Recommended cash offer today by Fiera Capital Corp for the specialist emerging and frontier markets asset manager. The aggregate value is 14p per share, a premium of 16.7% to yesterday’s close. Charlemagne had assets under management of $2.2bn at the end of August.

 

NetScientific (NSCI.L) 77.5p £39.58m

The transatlantic healthcare IP commercialisation Group, announced that its portfolio company, ProAxsis, has successfully registered a CE Mark to enable commercialisation of its novel ProteaseTag® Active Neutrophil Elastase Immunoassay.  ‘This will help accelerate its commercialisation in the COPD and Cystic Fibrosis markets. ‘

Head Chef:

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

*A corporate client of Hybridan LLP

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