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AIM Breakfasts

AIM BREAKFAST – 23 February 2018

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 954

Total number of AIM Companies trading: 905*
* As at 21 February 2018

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

Set Menu ISDX Growth:

Total number of ISDX Growth Market Companies (Incl Susp): 86*

Total number of ISDX Growth Market Companies trading: 82*
* As at 21 February 2018

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

NEX Exchange

VI mining—is an emerging gold and silver producer, focused on developing gold tolling operations in for small scale miners in Peru. Offer TBC. Due around 28 Feb.

AIM

SimplyBiz, a Financial Services Firm, reported to be considering an IPO targeting a market capitalisation of between £140m and £155m in a listing that would raise £30m of new money.

Bacanora Lithium—Readmission. No new money. Mkt cap £140m. Due 21 March. the new holding company for Bacanora Minerals Ltd

Stirling Industries—Acquisition vehicle focusing on industrials. Offer TBA. Due 5 March.

GRC International Group— holding company for a group of companies providing a range of products and services to address the IT governance, risk management and compliance requirements of organisations. Offer TBC, expected 5 Mar 2018

Core Industrial REIT—established to invest in Irish-based industrial properties, predominantly located in the Greater Dublin Area. Vendor placing and new funds to a total of €225m, Target gross proceeds €207m. Expected 21 Feb

Polarean  – Medical drug-device combination company operating in the high resolution medical imaging market. Offer TBC. Due Early March

Block Energy—a  NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC

Main Market Specialist Funds

Life Settlement—closed-ended investment company whose principal activities will be to support and manage portfolios of whole and partial interests in life settlement policies issued by life insurance companies operating predominantly in the US.  Due 6 Mar.

Main Market Premium Listing

Augmentum Fintech—Seeking to raise £100m at £1. Focused strategy to invest in fast growing and/or high potential private fintech companies in the UK and wider Europe

Energean Oil & Gas—Seeking gross proceeds of c.$500m. Independent oil and gas exploration and production company focused on  exploration, development and production of assets in the Eastern Mediterranean . Due march 2018.

IntegraFin provides platform services to UK clients and their financial advisers through its award-winning platform, Transact. Due Mar 18. FYSep2017 PBT up 44% to £29.9m.

JTC Group Jersey based financial services firm reported to be considering London float with c. £300m valuation.

 

Breakfast Buffet

Healthperm Resourcing (NEX:HPR) 180p £15.6m

“Healthperm today issues a pre-close trading update ahead of its final results announcement for the year ended 31 Dec 2017, which is scheduled for May 2018.

Key Operational Highlights

  • Revenue of approximately £0.25m in 2017 (2016: £2,000), subject to audit.
  • 130 candidates deployed in 2017 – 160% growth in the second half of the year.
  • 100% pass rate by our candidates of the Objective Structured Clinical Examination.
  • Recruitment of senior management and sales personnel across the organisation, including a new Philippines President, UK General Manager and Group CFO. The Group anticipates making further new hires during the first half of 2018 that will double its year end 2017 workforce by 30 June 2018.”

 

OnTheMarket (OTMP.L) 168.12p £100.79m

In line with the 5-year agreement announced in Nov 2017, the estate agency firm Chancellors Group of Estate Agents Limited is now advertising its UK residential sales and lettings properties at OnTheMarket.com.

The agreement was conditional upon OnTheMarket plc’s admission to the AIM market of the London Stock Exchange. Under the agreement, Chancellors Estates has also agreed to actively promote the OnTheMarket.com portal brand with digital and branch-based marketing activity. The Group operates a network of over 50 branches across Southern England and Wales, with a strong local presence in Berkshire, Buckinghamshire, Herefordshire, London, Mid Wales, Oxfordshire and Surrey. The growth in agent support for the OnTheMarket.com portal continues to accelerate, with the number of new listing agreements up from 81 in the first five days of trading on AIM to a total of 243 within  the first ten days.

 

Mporium Group (MPM.L) 8p £47.03m

“The technology firm delivering event-driven marketing, is pleased to announce the appointment of Nicholas Bertolotti as NED of the Company.

Nick has spent over 25 years advising companies in the Technology, Media and Telecoms sector. From 2003 to 2016 he was a Managing Director in Investment Banking at Credit Suisse, where he headed up the European Media Equity Research team, and where he was voted many times the number one rated European media analyst in the Extel and Institutional Investor surveys. He joined Credit Suisse from JPMorgan, where he spent seven years, latterly as a Managing Director and head of the European Media Equity Research team.”

 

Online Blockchain (OBC.L) 85 p £7.36m

Appointment of William Louden as a NED of the Company. Currently, Director, International Business Institute, Department Chair, International Business at Austin Community College, and Professor of Digital Media at St. Edward’s University, Mr Louden has been teaching since 2002.  As an early developer and participant in online computing and a long-time interactive services industry executive, Mr Louden has over 30 years of experience in internet products and services, including electronic commerce and billing systems, interactive games, and new product design and development. He was formerly president of a GE online strategic business unit, senior vice president at Delphi Internet leading a UK Internet startup operations for News Corp, President and COO at Preference Technologies, a public B2B Internet services company, and Founder and CEO at Peer Forward, a data mining software company.

 

Stanley Gibbons (SGI.L) 4.8p £8.68m

“The Stanley Gibbons Group Plc is pleased to announce that it has entered into various agreements to give effect to an investment of up to £19.45m by Phoenix UK Fund which will result in the Company’s total external bank debt finance being reduced to £10m and cash resources increasing by approximately £5.4m (net of the expenses of the Proposed Transaction). As part of the investment, Phoenix UK Fund will subscribe for new Ordinary Shares in the Company equating to approximately 58.09% of the Enlarged Issued Share Capital.” Includes £6.2m subscription at circa 2.5p.

 

W Resources (WRES.L) 0.57p £29.5m

“The tungsten, copper and gold exploration and development company with assets in Spain and Portugal, is pleased to have signed two major long term offtake agreements.

The first is with Wolfram Bergbau und Hütten AG, the largest tungsten processing company in Europe and the second is directly with a leading supplier to the USA tungsten markets.

W Resources will supply both with 66% tungsten concentrate on competitive pricing terms. The offtake agreements cover the initial T2 development of the La Parrilla Mine, and will account for approximately 80% of the planned production tonnage from this phase.”

 

Mayan Energy (MYN.L) 0.73p £8.5m

The “oil and gas company, is pleased to note the update from TSX listed Petroteq Energy Inc that completion of the main phase of construction work to expand the capacity of the heavy oil extraction and processing facility at the Asphalt Ridge Project in Utah to 1,000 bpd (barrels per day) has now been completed.  Mayan has a 17.6% interest in Deloro Energy LLC which recently completed the first tranche of its US$10million acquisition of a 49% interest in Asphalt Ridge – see RNS dated 15 January 2018. Asphalt Ridge, which is a heavy oil sands deposit with an 87 Million Stock Tank Barrels contingent resource in place, is undergoing a multi-phase development to produce 5,000+ bopd by 2019.”

 

Driver Group (DRV.L) 65.5p £35.28m

Trading update from the global professional services consultancy to construction and engineering industries.

“Trading results in the first four months of the financial year ending 30 Sept 2018 are significantly ahead of both internal forecasts and the equivalent period last year. Current activity levels are also high and the Group has a healthy pipeline of potential assignments for conversion in the months ahead. Taken together these factors indicate that the outcome for the year as a whole is likely to be comfortably ahead of the Board’s previous expectations.”

FY Sep18E rev £60.4m and £2.73m PE c.15x. Would expect upgrades.

 

Afarak Group (AFRK.L) 87.5p £230.16m

Q4 and FY update from the global vertically-integrated producer of speciality alloys  2017 was a record year for Afarak. EBITDA more than tripled to EUR 18m, from EUR 5.5m in 2016. Management’s focus on productivity and efficiency gains throughout the Group, especially in South Africa, supported by stronger market conditions, resulted in significant operational and financial gains for the year. ”Moving forward, the markets remain volatile. The decrease in the first quarter benchmark is expected to impinge on our results. During the coming year, management continues to consolidate Afarak’s positive performance, while focusing on capital investments, production capacity growth, specialised products development and market expansion.”

 

ECR Minerals (ECR.L) 1.08p £2.66m

“ECR Minerals plc is pleased to announce that the Company’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has been notified of the renewal of MGA’s Exploration Licence EL5433 in Central Victoria, Australia for a further five-year term until 27 March 2023.

This licence represents the Bailieston gold exploration project, of which MGA has 100% ownership, and is located in the same district as the million-ounce Fosterville gold mine owned by Kirkland Lake Gold. For more information on MGA’s current activities in Victoria, please see ECR’s announcement dated 20 February 2018.”

 

Head Chef:

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

*A corporate client of Hybridan LLP

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