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AIM Breakfasts

AIM BREAKFAST – 16 August 2018

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 935

Total number of AIM Companies trading: 871*
* As at 14 August 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): 90*

Total number of ISDX Growth Market Companies trading: 87*
* As at 14 August 2018

Dish of the Day:

No Joiners Today

Off the Menu:

No Leavers Today

What’s Cooking in the IPO Kitchen?

Main Market (Premium)

Mobius Investment—exploring the launch of a new UK investment trust. The trust will invest in small to mid-cap companies in emerging and frontier markets with an absolute return focus. Due September.

AIM

Sensyne Investments  – healthcare technology company that creates value from accelerating the discovery and development of new medicines and improving patient care. Raising £60m. Mkt Cap £225m.  Due 17 Aug.

Path Investments (PATH) -RTO of  a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Offer TBA. Due late Aug.

Vitesse Media (VIS) — To be renamed Bonhill Group. RTO of the trade and assets of InvestmentNews, a Business Information and Data & Insight brand supporting the US financial adviser and wealth manager community  Due 17 Aug.  Raising £18.6m at 80p. Mkt cap £26.7m.

Kropz PLC-Intention to float by the  emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa

Breakfast Buffet

Petards Group* (PEG.L) 26p £12.7m

Petards, the software developer of advanced security and surveillance systems, announced that it has been awarded a contract to supply Bombardier Transportation with Petards eyeTrain systems.

The new contract, which is worth in excess of £2.7m, is for the supply of Petards eyeTrain systems as part of a Class 172 modifications project for supply to West Midlands Trains. A total of 35 trains will be modified to have Petards Automatic Selective Door Opening system “ASDO”, Driver Controlled Operation CCTV “DCO CCTV” and Automatic Passenger Counting “APC” systems installed. Engineering activities will commence immediately with the first equipment deliveries starting in Jan 2019 and it is expected that the project will be completed in 2020.

“We are delighted that Petards has been selected by Bombardier to work with them on this exciting project and supply our innovative ASDO, DCO CCTV and APC systems. This new order adds to our already significant installed base and strengthens our position as the leader of on-train video and data solutions. Additionally it further bolsters the Group’s present order book for delivery in 2019 through to 2020”

 

TMT Investments* (TMT.L) 25p £28.4m

TMT Investments, the venture capital company investing in high-growth, technology companies across a number of core specialist sectors, announced its unaudited interim results for the half-year ended 30 June 2018.

Bonus-adjusted NAV per share of $2.75 (uplift of 13.2% from $2.43 as of 31 Dec 2017)

$2m profitable partial cash exit from Pipedrive

$16.6m in positive revaluations from Taxify, Pipedrive, Vinebox and Remot3.it

$4.8m in impairments from Scentbird, Adinch, Ninua, RollApp and TryTheWorld

$3.5m (before expenses) raised from UK institutional investors

Diversified portfolio of over 30 companies focused around big data, e-commerce, and business SaaS (software-as-a-service) tools

Many portfolio companies continue to experience rapid growth

 

Kibo Energy (KIBO.L) 4.8p £29.8m

Kibo Energy, the multi-asset, Africa-focused, energy company, announced that the recent application to secure water permits for the Mbeya Coal to Power Project has been provisionally approved by the Lake Rukwa Water Basin Board. Permanent water permits will be issued following completion of the construction and implementation of all necessary water infrastructure that will be required to meet the water needs of the Mbeya Power Plant and Mbeya Coal Mine.

The application was made to permit the operation of numerous water boreholes which are integral to the Mbeya Coal Mine’s dewatering plan and the provisional approval of these water permits is an integral part of the water supply strategy for the Mbeya Power Station

Separately the Company has also completed the process of additional submissions related to the local content plan and integrity pledge, announced in the RNS of 19 July 2018 and the Mining Commission is now in receipt of a Special Mining License Application for the Mbeya Coal mine that is fully compliant with the latest statutory requirements, as announced during July 2018.

 

Online Blockchain (OBC.L) 44.5p £3.85m

Online Blockchain, announced that it has agreed to invest up to $0.1m in cash for up to a 35% interest in Encryptid Gaming Inc, a crypto gaming software development start-up company. Online Blockchain’s subscription is payable over a period of time based on development milestones being achieved by Encryptid. The investment is being funded from Online Blockchain’s existing cash resources.

Encryptid is a newly-incorporated US-based company which is planning to develop new crypto-based games, storable on the Ethereum blockchain.

The first planned game for initial development is “Cybernetika”, a futuristic electronic world with roving robot-like creatures that can be trained, upgraded and put into tournament-style battles. Encryptid plans that Cybernetika will enable users to interact and raise their companion robot, and exchange them with other players.

 

Mercia Technologies (MERC.L) 28.5p £85.2m

Mercia Technologies, the national investment group focused on the identification, creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, announced that nDreams Limited has won a multi-million dollar contract with one of the world’s foremost virtual reality (“VR”) technology companies.

This new contract for nDreams, a leading European developer and publisher focused on VR gaming and experiences content, represents the company’s most significant contract win to date.

Mercia, which holds a 45.6% direct equity stake in nDreams, initially financed nDreams’ pivot from developing content for PlayStation Home Virtual Worlds to successfully becoming a specialist in virtual reality content provision. Following early support from Mercia’s managed funds, Mercia made its first direct investment into nDreams in Dec 2014. Since then nDreams has been working with the leading global names in the VR industry including Sony PlayStation, Oculus, HTC, Google and Microsoft.

 

VR Education (VRE.L) 17.5p £31.8m

VR Education, a leading virtual reality (‘VR’) technology company focused on the education space, announced the launch of Titanic VR, the Group’s highly anticipated immersive gaming experience, which will be available for PC, Oculus Rift, HTC Vive, and Windows Mixed Reality from 2:00pm (BST) today.

The Titanic VR game allows users to experience the tragic events of the doomed ship through the eyes of a survivor and to virtually explore the wreck on the seabed as she looks today. The game features a fully immersive and historically accurate animated experience which tells the story of the evacuation to lifeboats, based on the eye witness testimonies of survivors of the 1912 tragedy.

The project began its life through a Kickstarter campaign in early 2017. Motion capture technology and extensively-detailed maps of the shipwreck were used to create an accurate 3D depiction of the Titanic, setting the scene for an educational game where players are tasked with navigating the wreck using their submersible and ROV. The game features eight dive missions and seven lab missions.

 

Port Erin Biopharma Investments (PEBI.L) 4.4p £1.02m

The Board of PEBI announced it has completed a subscription of $0.25m for 43,357 issued shares in Blue Nalu, Inc, a company based in San Diego, California, USA. The Subscription, which is expected to give PEBI an interest of approximately 2% (on a diluted basis) in BlueNalu, will be paid by cash from PEBI’s own resources and is part of a fully subscribed Seed Funding round to raise $4.5m. The level of investment allows PEBI to qualify as a “Major Investor”, providing additional information rights unavailable to smaller investors.

BlueNalu is a relatively early stage company, focussed on manufacturing ‘clean’ seafood by growing cells of certain species of seafood in bioreactors which will ultimately be for human consumption. BlueNalu intend to partner with leading industry markets, in both food service and retail channels, allowing a speedy and cost-effective route to customers for a broad line of distinctive and differentiated seafood products.

BlueNalu is an early stage, pre-revenue company with costs of approximately $ 160,000 per month and net assets as at 7 Aug 2018 of approximately $3.2m.

 

Fusion Antibodies (FAB.L) 75p £17.2m

Fusion Antibodies, a contract research organisation providing a range of antibody engineering services for the development of antibodies for both therapeutic drug and diagnostic applications, announces its final results for the year ending 31 March 2018.

Revenue growth of 41% to £2.7m; adj EBITDA broadly in-line with expectations

Raised £5.5m before expenses

Loss for the financial year of £699,941

Adjusted loss for the financial year of £2,309

Adjusted EBITDA of £132,018 (2017: £288,473)

Cash and cash equivalents as at 31 March 2018 of £4.49m

Post period end highlights:

Facilities and technical capacity expansion is underway and will be completed by September 2018, earlier than planned and under budget

New affinity maturation service on schedule and expected to be introduced by Dec 2018

Mammalian antibody library on track for delivery in 2020

 

RA International Group (RAI.L) 83p £135.3m

RA International, a provider of services to remote locations in Africa and the Middle East, announced that it has secured a significant, new five year contract for the electrical works and construction of power infrastructure for the United Nations Support Office and African Union Mission in Somalia camps, both in Somalia.

RA International will deliver a full end-to-end managed service for the construction of power infrastructure, including the installation of UN provided generators and fuel tanks, and the provision of power distribution services to various facilities. The total contract value is just over US$30m and the works are due to commence this autumn.

 

Trinity Exploration & Production (TRIN.L) 16.9p £65m

Trinity Exploration & Production, the independent exploration and production company focused on Trinidad, announced that it has now repaid all outstanding debt to the remaining holders of the convertible redeemable loan notes issued by the Company, and thereby completes the full repayment of all outstanding debt.

“We are delighted to have repaid early all of our outstanding debts and now being debt free allows us to remain fully focused on the future. Moving forward with a clean balance sheet and a strong inventory of growth opportunities means we look to the future with confidence and are ideally positioned to take advantage of future opportunities as the environment in Trinidad & Tobago evolves.”

 

Head Chef:

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

*A corporate client of Hybridan LLP

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