AIM BREAKFAST – 4th 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
No Primary Today
Off the Menu:
No Leavers Today
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
Magnolia Petroleum (MAGP.L) 0.16p £2.04m
The US onshore focused oil and gas exploration and production company has announced a £250k placing at 0.1p, a 37.5% discount to yesterday’s close. The proceeds of the Placing will be used to fund current drilling commitments on its acreage in proven US onshore hydrocarbon formations, such as the Woodford and Mississippi Lime in Oklahoma.
Metal Tiger (MTR.L) 3.52p £19.5m
The investor in strategic natural resource projects has announced its quarterly activities report. Active investment programme—£700k contributed to direct placings including Greatland Gold, and Conroy Gold & Natural Resources*. Resource drilling underway at Botswanan JV. Discussions underway for interests in Thai Silve-Lead-Zinc mines. Working capital strong at circa £4m.
Metminco (MNC.L) 0.186p £m
The exploration and mining company has agreed an (up to) $45m equity funding agreement for its Los Calatos Copper-Molybdenum Project in Peru. This is with a UK mining fund managed by CD Capital who will hold a 70% stake in the project. The Project has a Mineral Resource of 352Mt at 0.76% Cu (2.7 million tonnes of copper) and 0.032% Mo (0.11 million tonnes molybdenum) in the Measured, Indicated and Inferred Mineral Resource categories. The funds will be used to complete the planned Pre-Feasibility and Feasibility Studies on the Project .
ReNeuron Group (RENE.L) 3.15p £99.69m
The developer of cell-based therapeutics has announced the publication of long term follow up data from its PISCES I stroke clinical trial in The Lancet. As previously reported, improvements in neurological status and limb function compared with pre-treatment baseline performance were observed within three months of treatment and maintained throughout long term follow up. There were no cell-related or immunological adverse events reported in any of the patients treated in the PISCES I study across the four ascending dose levels.
Global Invacom Group (GINV.L) 7.5p £19.5m
The satellite communications (“Sat Comms”) equipment provider has published H1 and Q2 results. Q2 has seen a $2.1m swing from a $1.9m net loss to a small profit of $0.2m. Highlights included two major orders from telecommunications providers and suppliers in the U.S. and Indonesia . Half year revenues were $64.3m up 19.1%. Consensus numbers are looking for FY Dec 2016 revenues of $195.6m and PBT of $4.05m.
Matchtech Group (MTEC.L) 337.6p £104.4m
The UK specialist Engineering and Technology (IT & Telecoms) recruitment agency has updated on trading for FY July 2016. The Board expects profits to be in-line with its previous expectations. Net Fee Income up 34% but only 1% on a like for like basis stripping out the Networkers acquisition completed in April 2015. On a like for like basis Engineering was up 6% and Technology down 6%. ‘Demand for skilled engineers remains strong in the UK and, notably, we have yet to see any impact on vacancy flow in the six weeks since the EU Referendum.’ The shares are on 7.4x FY16E EPS.
ServicePower Tech (SVR.L) 5.5p £5.69m
The mobile workforce management software developer and provider has provided an H1 June 2016 trading update. Trading for the half-year is in-line with management expectations with positive momentum at the period end, driven by improved gross margin, with June being EBITDA and net income positive. Total revenue up 4.9% to £6.4m. 98% recurring revenue! Cash balances remain flat at £0.7m. Plenty of product innovation in the period. The shares have underperformed over the last year and trade at under 0.5x FY2016e revenues.
Mytrah Energy (MYT)
The India-based renewable focused Independent Power Producer, has announced that a majority owned subsidiary has entered an agreement with an investment vehicle of GE (NYSE:GE) who will invest up to $31m to support the development of a 200 MW wind energy project in Andhra Pradesh. The shares are on a 9.8x PE and have a projected yield of 1.4% based on FY2016 consensus forecasts.
Portmeirion Group (PMP.L) 912.5p £98.24m
The homewares group whose brands include Portmeirion and Royal Worcester has reported interims to June 2016. Revenue of £28.5 million up by 2% on the comparative period. PBT down by 22% to £1.4 million. Interim dividend up 15% to 7p. Completed £17.5 million acquisition of Wax Lyrical Limited, the UK’s largest manufacturer of home fragrances. Net debt £9.7m. Following the 7 July profit warning Asian markets remain tough. EU referendum not hit retail but wholesale was impacted. The company believes this to be short term. The FY16E PE is 16x.
ANGLE (AGL.L) 63.5p £47.49m
ANGLE has announced a poster presentation by researchers from the University of Texas MD Anderson Cancer Center describing clinically-relevant results from a study using its lead product, the Parsortix cell separation system, to harvest breast cancer cells in blood for subsequent molecular characterisation. The research confirmed the ability to perform advanced molecular analysis of cells isolated from blood samples using the Parsortix & noted the ability to harvest circulating tumour cells without the use of antibodies.
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