AIM Breakfasts

AIM BREAKFAST – 1st August 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,015

Total number of AIM Companies trading: 990*
* As at 30 June 2016

Dish of the Day:

No Primary Issues  Today

Off the Menu:

No 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 June 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

Franchise Brands PLC – International multi-brand franchisor seeks to join AIM in Q3 raising circa £3.25m

The Intertain Group Ltd – World’s largest online bingo-led operator (on TSX) intends to join Official List

Autins Group plc – The acoustic and thermal insulation specialist  looks to join AIM early August

 

Breakfast Buffet

CentralNic Group (CNIC.L) 45p £43.1m

The Internet platform business which derives revenues from the global sale of domain names, has been awarded an exclusive contract to distribute the .FM domain which has been gaining significant traction in the music industry. Under the same agreement CentralNic will launch other domain names including .AM.  The company has a strong track record of growth and is on a current year PE multiple of 11.9x.

 

Gfinity (GFIN.L) 12.25p £19.3m

The eSports business has been chosen as one of two operating partners to host live events  in an international circuit  by Xbox and games developer Coalition for the new Gears of War eSPorts programme coinciding with the launch of the game  of the same name. The starting prize pool for this international circuit will total $1m.

 

Sierra Rutile (SRX.L) 36.5p£217.5m

The multi-mine mineral sands company  has recommended a £215m acquisition/merger by Iluka Resources.  SRL Shareholders will receive 36 pence in cash for each SRL Share, a premium of 32.3 per cent. to 27.2 pence, being the 1 month volume-weighted average price of SRL Shares to 29 July 2016 and 80 per cent to the April placing price.

 

OPG Power Ventures (OPG.L) 56.5p £198.6m

Prelims from the developer and operator of power generation assets in India today. 480 MW new capacity commissioned in the year – total operating capacity 750 MW. PTP of £28.6m +32%. EPS +8% to 5.29p. 62 MW solar growth projects expected to be funded from a combination of new debt facilities and internal equity.  No dividend declared but on consensus FYMAR17 the shares trade at 7x and a 1.21p dividend is anticipated.

 

Avacta Group (AVCT.L) 84.5p £57.8m

The developer of Affimer® biotherapeutics and research reagents has updated on FYJUL16 trading. Financials in line with expectations Revenues up 19% to £2.15m. R&D to be expensed contributing to increase in EBITDA losses of £4.5m vs £2.3m. Sitting on cash of circa £20m. Commercial validation progressing well. New labs now open and first animal study initiated with no adverse affect in the therapeutics programme.

 

Gemfields (GEM.L) 37p £200m

Q4 update. 75% owned ‘Kagem’ (Zambia)-  Production of 7.2 million carats of emerald and beryl  down from 8.1m y-o-y, with the difference being attributable to the varied nature of the mineralisation and a higher-grade zone having been encountered during the previous comparative period. However at its Ruby facility production of 6.2m carats vs 0.7m carats and at Montepeuz production exceeded guidance. Post period, $65m financing secured for expansion.

 

Forbidden Technologies (FBT.Ll) 8.38p £12.6m

The cloud video platform owner, announces that it has today agreed a deal with an iconic sports, music and entertainment venue in New York which while on its own is below 10% of annual revenue, is part of a trend towards higher value annualised deals with long term growth potential.   We have met with the new management of FBT who are highly focussed on driving sales and commercialising the core platform and new products.

 

BMR Group (BMR.L) 3.25p £5.65m

Further to its RNS on 30 June 2016, BMR now expects to enter into the anticipated sale and purchase agreement with the private South African group engaged in mining, energy and agri-business later this week. It also expects that the agreement will incorporate a US$3.5 million facility for the benefit of BMR, rather than US$2.0 million.  The offtake agreement is for agricultural grade zinc sulphate heptahydrate (ZSH) (500 tpm) and lead sponge (300 tpm).

 

Lok’n’Store Group (LOK.L) 325p £86.6m

The self-storage company has announced the completion of the sale of its undeveloped site in Portsmouth for £3 million in cash, equating to its July 2015 Book Value.  This sale was originally announced on 24 November 2014 and was conditional upon the buyer obtaining the requisite planning approvals. This process is now successfully concluded and the sale completed on 29 July 2016. The shares yield 2.6%.

 

Aran Silver Corp (AGQ.L) 0.97p £1.72m

Aran has agreed to sell the 75 hectare Calicanto Project in the State of Zacatecas, for a cash consideration of US$400,000. The Company’s strategy is to focus on the acquisition and development of near-term production assets; the Calicanto Project, which had a carrying value of US$602,000 as at 31 December 2015, is an early stage exploration project and not considered a core asset.

 

Head Chef:

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

*A corporate client of Hybridan LLP

Disclaimer

This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.

Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, directors, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the UK, this document is directed at and is for distribution only to persons who (i) fall within Article 19(5) (persons who have professional experience in matters relating to investments) or Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of UK or US securities law, or the law of any such other jurisdictions.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, directors, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX. If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”.