AIM Breakfasts

AIM BREAKFAST – 7th November 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 995

Total number of AIM Companies trading: 973*
* As at 04 November 2016

Dish of the Day:

No AIM Joiners Today

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 04 November 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

London & Country Mortgages –Report in the telegraph that the home loan broker hopes to list in 2018

Crawford—City A.M. says that dermatology and wound-care specialist Crawford is considering a market float after the recent success of rival ConvaTec.

Civitas Social Housing –Intention to float on Main Market from the first REIT to be listed on the London Stock Exchange offering pure play exposure to social housing


Breakfast Buffet

LightwaveRF (LWRF.L) 13.5p £2.78m

The Internet of Things  provider of the LightwaveRF platform and connected devices enabling domestic and commercial users to remotely monitor and control light, heat, power and security by smartphone, tablet or PC has received an additional order of £240,000 from Megaman, its UK electrical wholesale partner.  Together with other orders received in the period the total company order book now stands at over £1 million.

Amryt Pharma (AMYT.L) 15p £31.25m

The clinical-stage specialty pharmaceutical company focused on best-in-class treatments for orphan diseases, announced that the U.S. Food and Drug Administration has granted orphan drug designation to the Company’s drug compound, AP102, which has the potential to treat patients with acromegaly.  Acromegaly is a rare endocrine disorder in which the body produces excessive growth hormone, leading to abnormal growth throughout the body over time. Important regulatory milestone for Amryt as it prepares to bring AP102 into the clinic next year.


YOLO Leisure & Technology (YOLO.L) 1.2p £2.15m

YOLO has raised £2.5m at a price of 1p, a 16.7% discount to yesterday’s close.  The Company will invest approximately £1.4 million in Magic Media Works Limited through secured convertible loan notes.  Magic Works has developed the Electric Jukebox,  a premium ad-free music streaming service and associated player.   The remainder of the funds raised will be used to provide the Company with additional funds for working capital and investments.


Cambium Global Timberland (TREE.L) 6.25p £5.13m

Cambium has entered into a wood supply agreement with SUZANO PAPEL E CELULOSE S.A, a publicly owned Brazilian pulp and paper company, to sell to Suzano substantially all of the standing timber on Cambium’s 3R property in Tocantins state, Brazil. The agreement is expected to generate an income to Cambium approximately equalling the current book value of the trees (before legal and financial advisory costs related to the transaction. This sale is part of the planned orderly realisation of Cambium’s assets.


Accrol Group Holdings (ACRL.L) 117.5p £109.3m

H1 Oct 16 trading update from the independent tissue converter.  Trading in-line. The Company has continued to win new business with existing customers in addition to the previously announced new £10m contract gain, now confirmed as Lidl. Installation of two high-speed converting lines in the new 168,000 sq. ft. manufacturing facility in Leyland is well underway and will increase total capacity to 143,000 tonnes per annum.  FYApr17E revenue £128.7m, EPS 10.2p. PE 11.5x.


Ideagen (IDEA.L) 52.75p £95.8m

H1 Oct16 trading update from the supplier of Information Management Software to highly regulated industries. Trading remains strong. Revenue and adjusted EBITDA are expected to show a significant increase over the same period last year through a combination of organic growth and the acquisition of Covalent. The Group expects to report organic revenue growth of approximately 16% together with a small contribution from Covalent which was acquired in August 2016. In-line with market expectations. FYAPR2017E rev £25.4m, PBT £6.7m, Eps 3.1p, Div 0.2p


Sovereign Mines of Africa (SMA.L) 0.72p £6.24m

The Company has entered into an agreement with Volcanic Metals Corp. (TSXV:VOL) to farm-out its 75% interest in the Mandiana Gold Project in the Republic of Guinea, West Africa. In consideration, SMA will receive common shares in Volcanic representing 9.9% of the outstanding share capital of Volcanic.  The Company currently carries its Guinean assets in the books at nil value. The Company will on completion become an AIM Rule 15 cash shell. Due diligence underway on potential new mining acquisition.


EKF Diagnostics (EKF.L) 16.12p £74.86m

The point-of-care business, announced that early trading in Q4 of the current financial year has again been materially higher than budget and at a run-rate in excess of already revised market forecasts, upgraded following the trading update provided on 7 October 2016. The Company now believes that it will achieve revenues of at least £36.5m and adjusted EBITDA for the year ending 31 December 2016 of at least £5.5m, therefore exceeding current market forecasts. The strong performance of the business is due to organic growth.


Redcentric (RCN.L) 150p £220.75m

The IT managed services provider, announced that an internal review by the Company’s audit committee in relation to the interim results for the six months ended 30 September 2016 has discovered misstated accounting balances in the Group’s balance sheet. Audited accounts for previous years are likely to need to be restated, resulting in some write down in historic profits. Current indications are that all issues relate to prior periods. Likely £10m reduction in NAV and material errors in previous net debt guidance. The Company has served notice on its CFO.


Surgical Innovations (SUN.L) 3.22p £15.76m

The designer and manufacturer of innovative medical technology for minimally invasive surgery, has completed the acquisition of the laparoscopic instruments business and related assets of Surgical Dynamics Limited for a cash consideration of approximately £0.36m. Consideration will be funded from existing cash resources. SDL specialises in the design, development and rapid prototyping of a range of medical products. Revenues for the year ended 31 December 2015 amounted to £0.12m and loss before tax was £0.17m.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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