AIM Breakfasts

AIM BREAKFAST – 6th February 2017

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 972

Total number of AIM Companies trading: 947*
* As at 03 February 2017

Dish of the Day:

No AIM Joiners Today

Off the Menu:

United Cacao Limited  (CHOC.L) has left AIM pursuant to AIM Rule 1

Set Menu ISDX Growth:

Total number of ISDX Growth Market Companies (Incl Susp): 85*

Total number of ISDX Growth Market Companies trading: 82*
* As at 03 February 2017

Dish of the Day:

No NEX Growth Market Joiners Today

Off the Menu:

No NEX Growth Market Leavers Today

What’s Cooking in the IPO Kitchen?

Arix Bioscience — Intention to float on the main market from the  global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management

Eco (Atlantic) Oil & Gas—Schedule One Update. Now expects admission ‘early February’.

Ramsdens Holdings –Schedule One from the financial services provider and retailer, operating in the core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. Expected admission to AIM 15 Feb raising circa £15.6m. Expected mkt cap £26.5m.

 

Breakfast Buffet

Bagir Group (BAGR.L) 4p £12.4m

The designer, creator and provider of innovative tailoring, announced the conditional acquisition of the remaining 50% shareholding in Nazareth Garments, the joint venture owner of its manufacturing site in Nazareth, Ethiopia, for a total consideration of US$1.9 million. Eran Itzhak, Chief Executive Officer, commented, “The option to acquire the remaining 50% in this site giving us total control is timely as it coincides with the Company looking to expand production significantly and we can see growing interest in the site from our customer and prospective customer base as well as new exciting opportunities. There is still some way to go but we are in a good position to make Ethiopia a key cornerstone of our business.”

 

Amryt Pharma (AMYT.L) 17p £35.4m

The pharmaceutical company focused on best-in-class treatments for rare and orphan diseases, announced positive results of a newly completed pre-clinical study that compared its drug compound AP102 (a somatostatin analogue therapy with the potential to treat acromegaly) with pasireotide, an approved product for treating patients with resistant acromegaly.  Amryt’s AP102 did not demonstrate the potential to cause diabetes, an observation which, if replicated in clinical studies, could be clinically beneficial in treating acromegaly. “This suggests that it lacks the potential to cause or exacerbate diabetes, which is an issue with some other approved therapies.”  As previously reported, the Company is preparing AP102 for clinical trials in 2017.

 

Proxama (PROX.L) 0.37p £7.94m

The international digital and mobile commerce company specialising in end-to-end payment solutions for card issuers and processors, announced that a leading South African insurance and financial services provider, has signed a 5 year contract with Proxama Solutions Limited for the supply of in-house EMV card issuing, PIN management and card lifecycle management. Revenue earned from software licenses, services and support will be £0.365m in 2017 and a minimum of £0.691m in total over the five years, with additional payments if certain card capacity thresholds are achieved.

 

Powerhouse Energy (PHE.L) 1.03p £6.6m

Powerhouse has signed a Memorandum of Understanding  with Peel Environmental Ltd and its subsidiary, This is Protos LLP  to work together to pursue the development, construction and operation of an energy from waste plant at Peel Environmental’s Protos facility near Chester, UK.  This MOU was brokered by Waste2Tricity Ltd in conjunction with the joint development agreement between PowerHouse and Waste2Tricity announced on 18 January 2017.   The joint project envisages the construction of PowerHouse’s first commercial enterprise, utilising the Company’s G3-UHt system, at the Protos site together with a proposed plan for the delivery of five energy from  waste plants.  There is no certainty that the MOU will proceed to definitive agreements between the parties.

 

Challenger Acquisitions(CHAL.L) 7.87p £1.8m

The Company has commenced a strategy to implement specific cost control measures and to actively manage the conversion of a portion of its outstanding convertible notes. Mark Gustafson, Chief Executive Officer of the Company, has agreed to a compensation arrangement of £1,000 per month until further notice. The board of directors has also been reduced to three members with the retirement of Markus Kameisis as an executive director. Mr. Kameisis retains his position as Chief Financial Officer of the Company. Going forward, the Company will continue to review public company costs to ensure these are minimised wherever possible.

 

Europa Oil & Gas (EOG.L) 4.87p £11.94m

The UK and Ireland focussed exploration, development and production company’s wholly owned subsidiary has signed a Farm-Out Agreement (FOA) in relation to a 12.5% interest in the PEDL143 licence in the Weald Basin with a wholly owned subsidiary of Angus Energy PLC. Europa will retain a 20% interest in PEDL143 where a well targeting the 5.6mmbo conventional Holmwood prospect is anticipated to be drilled in 2017. FOA sees Europa fully carried to drill Holmwood. The 5.6mmbo prospective resources at Holmwood do not include an estimate for the Kimmeridge limestones that produced oil at Horse Hill.

 

Pebble Beach Systems Group (PEB.L) 17.37p £21.65m

Trading update from software business specialising in solutions for the playout automation serving customers in the broadcast markets. Results for FY2016 are expected to be materially below the Board’s previous expectations. There was a fall in performance at VCS which was due to the uncertainty caused by the lengthy sale process. In addition there are significant write offs to recognise the final sale price achieved. The bank increased the Company’s facility to £17.8m in the weeks immediately prior to the sale.  It is not expected that the current level of bank financing will reduce before mid-March. The Board remains in regular dialogue with its bank, who remain supportive. FYDec16E £46.4m rev. £1.46m pre-tax loss.

 

Accesso Technology (ACSO.L) 1545p £344.8m

The premier technology solutions provider to leisure, entertainment and cultural markets, announced that it expects Group revenues to be in line with expectations for the year ended  Dec 2016, and expects to be ahead of expectations with respect to profitability. This strong performance has been achieved despite significant and accelerated investment in product and infrastructure to support business and growth opportunities in geographies outside its traditional core markets, together with further investment in the recently launched accesso Prism wearable device. The Board is also pleased to report a strong start to 2017 where all accesso business lines are reporting good momentum.

 

Safestay (SSTY.L) 45p £15.4m

The owner and operator of a new brand of contemporary hostel announced a trading update for the 12 months to 31 December 2016. The Group expects to report underlying EBITDA of £2.2m (2015: 0.6m) and revenues of £7.4m (2015: 4.0m). 2016 tough trading and Holland slow to start. That said, Safestay is a young growing business and its growth outlook remains unchanged for 2017. Advance bookings, for which the company has received deposits look strong compared to this time last year. FYDec16E £7.7m rev and £0.1m pre-tax loss rising to £8.3m and £0.4m profit in 2017.

 

Glenwick (GWIK.L) 0.06p £1.32m

Glenwick has now entered non-binding heads-of-terms to acquire 100% of the share capital of Cora Gold Limited, which will constitute a new admission to trading under the AIM Rules. The Gold Portfolio consists of 10 highly prospective gold exploration properties totalling more than 1,600 km2 located in two significant gold areas, the Kenieba Window in Mali and Senegal and the Yanfolila Gold Belt in Mali. All share deal giving vemdors 91% of  enlarged capital. Additionally £130k raised at 0.05p supported by Paternoster Resources.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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