AIM Breakfasts

AIM BREAKFAST – 3rd August 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,015

Total number of AIM Companies trading: 990*
* As at 30 June 2016

Dish of the Day:

No Primary Today

Off the Menu:

No 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 30 June 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Franchise Brands (FRAN.L) confirmed it will join AIM on Friday. £3.5m raise at 33p oversubscribed. 15.6m market cap. Currently focusses  on car paintwork repair and domestic cleaning.  2015 – £4.4m rev/£1.1m PBT

The Intertain Group Ltd – World’s largest online bingo-led operator (on TSX) intends to join Official List

Autins Group plc – The acoustic and thermal insulation specialist  looks to join AIM early August


Breakfast Buffet

Sareum Holdings* (SAR.L) 0.69p £18.12m

The specialist cancer drug discovery and development business has announced that the Chinese Patent Office and the Hong Kong Patents Registry have issued notifications that patents will be granted for inventions associated with Sareum’s Aurora+FLT3 Kinase Inhibitor Programme. Similar patents have previously been granted in the USA and Europe. The programme has shown efficacy against acute myeloid leukaemia in disease models and in collaboration with its partner, preclinical studies are underway with a view to human trials.


Conroy Gold and Natural Resources* (CGNR.L) 36.5p £4.02m

The gold exploration and development Company has released the results of its first drill hole from the current programme at the flagship  Clay Lake-Clontibret gold target in Ireland, where the Company has an exploration target of 5 million oz. gold. It included high grade gold intersections of 1 metre at 15g/t gold and 1 metre at 8.4g/t gold and the discovery of a new gold bearing lode. This follows the recent intersection of four new gold zones at its Glenish target.


Venn Life Sciences Holdings* (VENN.L) 28p £16.9m

The growing Contract Research Organisation (CRO)  has signed a new contract worth 2.8m with a European Biotechnology client. The clinical trial is a Phase II study in the area of Immunotherapeutic treatments for Multiple Sclerosis and commences in October 2016. Furthermore Venn’s Interactive Response Technology (“IRT”) department, has successfully qualified as a service provider to a top ten Pharmaceutical client and been awarded an initial 36 site project in China.


MedaPhor Group (MED.L) 39.5p £10.76m

The  provider of advanced ultrasound skills training simulators for medical professionals has announced H1Jun2016 results. Sales +17% to £1.26m. Operating loss flat at £1m. Cash balances of £3.5m. The Company has also announced the £3m all share acquisition of Inventive Medical (IML), plus £2.7m of shareholder loans. Benefits of the acquisition include a complementary suite of ultrasound training products and enlarged revenues. For the year ended 31 March 2015 IML recorded audited revenue of £1.9m and a loss before tax of £0.3m.


Mi-Pay Group (MPAY.L) 23.5p £9.77m

The provider of outsourced and fully managed digital transformation and mobile payment solutions to Tier 1 Mobile Network Operators and Mobile Virtual Network Operators  has provided a H1Jun2016 trading update. Transactions processed up 34% to £39m. Expected revenue of £1.6m vs £1.5m. Gross profit up 33% to £1m and £0.6m operating loss improvement to £0.2m. Cash above management expectations at £3.4m  as at 30 June. FY transaction values expected to be circa £80m vs £65m. Progressing well towards cash flow break even.


TechFinancials (TECH.L) 29p £5.83m

The technology provider to financial trading brokers has provided an H1Jun2016 trading update. Revenue has increased by over 30% from US$7.34 million in the first half of 2015 to in excess of US$9.6 million during the first half of 2016. Additionally, operating performance improved substantially compared with the same period in 2015, resulting in EBITDA increasing by over 80% from US$0.55 million to in excess of US$1 million. Consensus sterling forecasts project FY revenues of £15.13m and EPS of 0.65p.


Telit Communications  (TCM.L) 266.75p £306.5m

The  global enabler of the Internet of Things (IoT), has signed a multi-faceted collaboration agreement with Tech Mahindra Ltd (NSE: TechM, “Tech Mahindra”), a specialist in digital transformation, consulting and business re-engineering, to develop end-to-end solutions for the IoT. Telit and Tech Mahindra are already engaged in several industrial customer projects together, including a leading global heavy equipment company.


Science in Sport (SIS.L) 55p £23.8m

The sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts, announces that it finalised an agreement  to become the Official Sports Nutrition Supplier to USA Cycling (‘USAC’), the official governing body for all disciplines of competitive cycling in the United States.  This is a good win following the company’s expansion into the US. Consensus forecasts are looking for FY2016 revenues of £12m and a pre-tax loss of £0.99m


Red24 (REDT.L) 24.5p £12.1m

The crisis assistance company  has responded to an announcement by iJet regarding a potential 24p per share offer for Red24. Red24 advises shareholders to take no action at this time and emphasises that discussions are at a preliminary stage. The shares trade on 10.6x consensus earnings for FYMar2017 and have a projected yield of 2.4%.


StatPro Group (SOG.L) 99p £64.1m

The provider of portfolio analysis and asset pricing services for the global asset management industry, has published its interim results for the six months ended 30 June 2016.   Group revenue up 14% to £17.55 million. Adjusted EBITDA increased by 19% to £2.05 million.   Interim dividend maintained at 0.85 pence per share.  Fwd order book of contracted revenue increased 19% to £44.13 million (2015: £37.01 million), 8% on a constant currency basis. Your chef will attend the 0930 analyst meeting.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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