AIM Breakfasts

AIM BREAKFAST – 9th September 2016

Set Menu AIM:

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

Total number of AIM Companies trading: 989*
* As at 08 September 2016

Dish of the Day:

No Primary Today

Off the Menu:

Antrim Energy (AEY.L) to leave AIM after a voluntary dissolution

Set Menu ISDX Growth:

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

Total number of ISDX Growth Market Companies trading: *
* As at 08 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 12 September raising up to £2.85m at £8.1m mkt cap

 

Breakfast Buffet

Vela Technologies (VELA.L) 0.18p £1.26m

The investing company focused on early-stage and pre-IPO disruptive technology investments, announced a conditional fundraising to raise £400k gross through the issue of convertible (at 0.15p) unsecured loan notes to certain Shareholders, including director Antony Laiker. The Loan Notes are repayable on 30 September 2018 and carry a coupon of 8%. The proceeds will be used for additional working capital and to provide additional funds for the Company to make further investments in the future.

 

Richoux Group (RIC.L) 22.5p £20.7m

The owner and operator of Richoux, Dean’s Diner and Villagio restaurants has announced interims to 10 July 2016. Turnover increased 5.7% to £7.08m. Adjusted EBITDA decreased to £0.28m from £0.79m.  Trading conditions have been difficult during the period in the face of increased competition at a number of sites as well as increased property and staff costs, the latter due largely to the impact of the living wage.

 

Randall & Quilter Investment Holdings (RQIH.L) 109.5p £78.9m

Subject to regulatory approval, the Company has agreed to acquire RLGI, a UK non-life insurance company in run-off, from The Royal London Mutual Insurance Society. The agreed purchase price is £11.9m and represents a small discount to RLGI’s net assets of £13.5m as at year-end 2015.   In the year ended 31 December 2015 RLGI reported a profit before tax of £0.8m.  Randall & Quilter is currently forecast to record £7.6m of PBT for FYDec2016. PE 12.6x

 

Botswana Diamonds (BOD.L) 1.98p £6.7m

Update on the ongoing diamond exploration campaign in Botswana.  The campaign is part of the 50/50 joint venture between Botswana Diamonds and Alrosa, the world’s leading diamond producer.  Next stage exploration to commence this month. Eight holes in total plus intensive soil sampling and geophysics. An Alrosa team of 7 specialists will be joined by Botswana Diamonds geologists and support crew.  Final analysis of 80 tons of material previously recovered still outstanding.

 

Coretx (COR.L) 34p £64.9m

Coretx has agreed to sell its subsidiary undertaking, CORETX Media (“CML”), to Matt Hawkins, Chief Technology Officer, who is stepping down with immediate effect in order to focus on developing the CML business.  Matt is the founder of CML. Nominal consideration of £1. CORETX will provide CML with fibre, network connectivity and other related services.  CML was acquired with the C4l acquisition (£20.2m) in February for no additional consideration.FY2016E revenues, £49n. EPS 1.19p.

 

YOLO Leisure and Technology (YOLO.L) 1.05p £1.88m

The company focusing on opportunities in the technology and leisure sectors, announces that TVPlayer Limited, in which YOLO has an interest by virtue of its investment into TVPlayer’s parent company Simplestream Limited, has signed formal licensing multi year content agreements with ITV, Channel 4 and Channel 5 to simulcast the broadcasters’ free to air channels on TVPlayer.

 

Minoan Group (MIN.L) 8.62p £16.8m

Update on trading and Greece Project. The Group’s Travel Business has been negatively affected by the outcome of the Brexit vote, weakness in Sterling and the decline of tourism in Turkey. Accordingly, profits for the current year will not meet market expectations. Encouraging trend in forward bookings for 2017 which show a return to a rate of growth ahead of current market indicators at 8%.  Appeals against the Presidential Decree for the Crete Development scheduled for 16 September.

 

Hurricane Energy (HUR.L) 32.125p £322m

The UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, announces that the Company has completed the testing and logging phase of the 205/21a-7 well (the “Pilot Well”) and operations are now progressing as planned to permanently abandon the Pilot. A very significant hydrocarbon column of at least 620 metres is present within the basement extending well below structural closure confirming Hurricane’s reservoir model for the Lancaster field.

 

Hornby (HRN.L) 30.6p £25.9m

AGM Trading statement from the international models and collectibles group. Current trading has been in line with its expectations.  Since the July capital raising the Group is now implementing the new business plan to refocus the business on existing profitable and cash generative products, channels and geographies, whilst also reducing the cost base of the business to reflect projected revenue sources and a simplified overall business model.  FYMar2017E revenues £44.1m, £6.3m loss before tax.

 

CityFibre Infrastructure Holdings (CITY.L) 61.5p £163.4m

The designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, has announced the signing of a commercial launch partner agreement for its Southend-on-Sea network currently under construction.  Onecom, the largest service provider in the Vodafone Partner Programme by customer connections, is CityFibre’s 50th service provider partner. Worth £1.7m over five years.  FY2016E revenue £14.8m, pre-tax loss £11.18m.

 

Head Chef:

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

*A corporate client of Hybridan LLP

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