AIM Breakfasts

AIM BREAKFAST – 8th September 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,004

Total number of AIM Companies trading: 989*
* As at 07 September 2016

Dish of the Day:

No Primary 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 07 September 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Jackpotjoy—Press reports Canadian online Bingo firm currently known as Intertain (TSX) to vote on an October IPO in London

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 9 September raising up to £2.85m at £8.1m mkt cap

 

Breakfast Buffet

PHSC (PHSC.L) 24.5p £3.6m

The provider of health, safety, hygiene and environmental consultancy services and security solutions to the public and private sectors has announced a pre-AGM trading update. Unaudited management accounts are showing a consolidated EBITDA loss of around £94k on sales of £2.3m but the Board anticipates that the position will improve before the conclusion of H1 and that this improvement will be sustained in the second half of the year . Cash of £565k at 6 September.

 

Metminco (MNC.L) 0.18p £6.98m

The exploration and mining company announced results for the scoping level work completed by SRK Consulting on an underground only mining study at its 100% owned Miraflores Project in Colombia. Based on the updated capital and operating costs for this option, and the associated financial returns, the Project is considered to be financially robust and hence represents a viable development option.  The study envisages 9 years of annual EBITDA of $31.7m and a $73.4m NPV discounted at 8%.

 

Milestone Group *(MSG.L) 0.575p £4.4m

The provider of digital media and technology solutions announces the signing of a cooperation agreement with  Apprenticeships 4 England  who will promote the Company’s products such as the Alchemy digital media and charity giving platform and the Passion Project to its influential network. Milestone will help Apprenticeships 4 England expand and build its brand utilising its fast growing network of corporates & high profile media & sports stars.

 

B.P. Marsh & Partners (BPM.L) 189.5p £55.4m

The niche venture capital provider to early stage financial services businesses has updated on the six months to July 2016. Dividend of 3.76p per share announced for year ending 31 January 2017.  £6.6m net cash available. The Group is in discussions on a number of enquiries that fall within its heartland of insurance intermediaries, both in the UK and overseas.  The UK’s expected withdrawal from the European Union is not anticipated to change the direction of B.P. Marsh’s business.

 

Hunters Property (HUNT.L) 73.6p £m

The national sales and lettings estate agency and franchise businesses,  has announced H1 Jun 2016 results.   Revenue up 26% to £6.6m. Adjusted operating profit  up 107% to £923k. Interim dividend up 20% to 0.6p per share. Opened 17 new branches, including the conversions of 10 existing businesses expanding the branch network to 180. H2 has started strongly. EU referendum has reduced some activity levels in the market, particularly in London and the South East but less so nationally.

 

HydroDec Group (HYR.L) 3.625p £27.1m

The clean-tech industrial oil re-refining group  reports that the American Carbon Registry has approved Hydrodec’s patented technology as a carbon offset project, creating an  incremental revenue stream for the Company and establishing Hydrodec (as far as the Board is aware) as the only oil re-refining business in the world to receive carbon credits for its output.  165k  credits awarded retrospectively. Estimates 50k-60k tonnes of offset annually. Ongoing credit generation could realise up to US$5 per ton.

 

Midwich Group (MIDW.L) 243.5p £m

The specialist audio visual and document solutions distributor to the trade market with operations in the UK and Ireland, France, Germany and Australasia, announced the acquisition of Holdan Limited in the UK for a maximum consideration of approximately £7.9m and the smaller acquisition of Wired Limited  in New Zealand.  In the year ended 31 December 2015 Holdan reported annual turnover of £20.6m. PBT £1.1m.

 

Strat Aero (AERO.L) 0.825p £2.77m

The international aerospace company focused on the rapidly emerging Unmanned Aerial Vehicle sector, has announced that its wholly-owned subsidiary, Geocurve, has been awarded a further contract to provide aerial inspection and level survey services for the Environment Agency’s Thames Estuary Asset Management 2100 (TEAM2100) programme which could deliver in the region of £1m in revenue to Strat Aero over the next 18 months, and £2.5m over the duration of the whole programme

Tower Resources (TRP.L) 2.5p £0.65mm

The Africa focussed oil and gas exploration intends to raise gross proceeds of approximately £1.03 million, through a non-brokered subscription at a placing price of 2.25 pence. A discount of circa 59% to yesterday’s close. This is accompanied by an open offer  for up to £0.56m. The proceeds will be used, primarily, to provide the working capital to progress the farm-out of Thali (offshore Cameroon) and secure a suitable partner and for other corporate uses.

 

MXC Capital (MXCP.L) 3.2p £109.4m

FYAug2016 trading update from the technology focused merchant bank. NAV up 16% to £72m. £32m invested in 6 new businesses: portfolio now 11 investments, six are quoted. Advised on a total of 8 corporate finance mandates in the period including the £51m IPO of Tax Systems plc – MXC acted as lead adviser and cornerstone investor.  Underlying EBITDA £2.5m. £13m funding available.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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