AIM Breakfasts

AIM BREAKFAST – 5th September 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,006

Total number of AIM Companies trading: 993*
* As at 30 August 2016

Dish of the Day:

Vale International Group  (VIG.L) which appears to be a shell seeking a Fintech Acquisition has joined the Main Market’s Standard List raising £1.5m gross or £0.78m net at 3.5p.

Off the Menu:

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 30 August 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Misys— The press reports that the Banking Technology provider owned by Vista Equity Partners is seeking a £5.5bn float in London

Bacanora Lithium— To list on AIM around 28 Sep as holding company for TSX listed Bacanora Minerals at £100m market cap

Aura Energy—ASX listed uranium developer (ASX:AEE) expected to join AIM 6 September

Breakfast Buffet

Landore Resources (LND.L) 2.85p £19.96m

Landore Resources has provided a progress report on extension drilling of the BAM East Gold prospect on its Junior Lake Property, Ontario, Canada. Drilling results continue to report wide zones of gold mineralisation including high grade intersections with drill-hole 0416-535 reporting 53.50m at 1.38 grams/tonne gold (g/t) including 9.00m at 4.74g/t gold and 1.00m at 30.60g/t gold. Drilling  to re-commence in October, firstly with large diameter holes for metallurgical testing, then to the east, west and down dip to test for further extensions.

Equatorial Palm Oil (PAL.L) 1.7p £6.06m

The palm oil development and production company with operations in Liberia  announce today its 50% owned joint venture company, Liberian Palm Developments Limited (LPD), has entered into a loan agreement for the loan of up to US$30m with KLK Agro Plantations, a wholly owned subsidiary of Kuala Lumpur Kepong Berhad for the operations and funding for LPD. The Loan will be used to continue with the next phase of growth of LPD and fund the construction of the new 60 metric tonne  palm oil mill to be built on Palm Bay estate.

Comptoir Group (COM.L) 68p £65.3m

The Lebanese canteen specialising in fresh, healthy and affordable Lebanese dishes is pleased to announce six new Comptoir Libanais sites will open over the next three months, including three new regional locations and its first inside a department store.  Comptoir listed in June at 50p with 11 managed sites under the brand plus a franchise model  and four non Comptoir branded restaurants. There are currently no forecasts in the market.

Faron Pharma (FARN.L) 250p £57.8m

The clinical stage biopharmaceutical company  has announced H1Jun16 interims. During the period it received a €750k licensing fee and a €1m under its EU FP7 grant. €2.6m operating loss and cash of €8.9m.  Traumakine for Acute Respiratory Distress Syndrome in two trials including pivotal phase III in Europe. Clevegen® – novel cancer immunotherapy checkpoint antibody  (pre-clinical) expanding its patent reach  and manufacturing agreement entered with Abzena (ABZA.L) for clinical development.

Flowgroup (FLOW.L) 11.87p £37.7m

The provider of innovative energy technologies, energy supply and energy services announced H1Jun16 interims. Revenues up 104% to £41.8m  Operating loss of £8.0m from £6.9m.  Cash at 1 September 2016 of £13.2m of which £1.6m in energy trading account. The outlook reads positively although all eyes are on the Governments stance on the microCHP Feed-in Tariff. Any change would be detrimental to FLOW’s technology development although mitigated by external agreements. FY2016E £113.6m rev. 8.71p LPS.

StatPro Group (SOG.L) 102p £66m

The cloud-based portfolio analysis and asset pricing services provider for the global asset management industry, has entered into a three-and-a-half-year contract with a US-headquartered top ten global asset manager for a minimum value of £1.5 million for its GIPS® (“Global Investment Performance Standards”) Composites service.  FYDec16E revenues are looking for £35.2m revenues and EPS of 2.97p/ 34x PE. 2.8% yield.

KOOVS (KOOV.L) 83p £89m

The fashion-forward business focused on the young Indian e-commerce market, today announced a trading update for 17 weeks 01 April to 31 July 2016.       Sales up 115% to £5m / INR473m. Brand awareness increased from <1% to 18%, driving website traffic to 1.4m visits per week, increase of 142%, Registered users now 1.2m and social media registered followers 1.7m, both more than doubled. FY Mar 2017E forecasts of £25.8m sales and £15.4m pre-tax loss.

Vipera (VIP.L) 4.75p £12.28m

The specialist provider of mobile financial services, announced its unaudited interim results for the six months ended 30 June 2016.  Revenue €3.78m: up 43%. Continued investment in expansion and in IP. Operating loss €0.40m from €0.52m. Net Cash of €2.44m.  First installation of a new retail solution for a major European retailer.  FY Results  significantly dependent on the timing of transactions. However  revenue growth is expected. FY16E £6.98 revs and £0.7m pre-tax loss.

Pantheon Resources (PANR.L) 150p £322.4m.

The oil and gas exploration company with a working interest (of 50%-58%) in several conventional projects in Tyler and Polk Counties, onshore East Texas, announced the temporary cessation of drilling operations at the VOBM#2 well and provides an update on the fracture stimulation remediation process at VOS#1 well.  VOBM#2 flow testing not possible but significant hydrocarbons encountered.  VOS#1 flowed through a 14/64th inch choke at  sustained rate of c.920 boepd.

FinnAust (FAM.L) 5.35p £26.45m

The company with projects in Greenland, Finland and Austria, has significantly increased its land position in Greenland via the proposed acquisition of 100% of Avannaa Exploration Limited, a mineral exploration company with several advanced projects in the south-west of the country.  The vendor is, a subsidiary of Cairn Energy  (CNE.L). £500k Acquisition price to be satisfied through the issue  shares in FinnAust. Two of the projects,  have been the subject of more than $50m of technical work by blue chip mining houses.

Head Chef:

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

*A corporate client of Hybridan LLP

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