logo-loader

Breakfast News - AIM Breakfast : ANGLE plc, Altus Strategies, Amphion Innovations Plc, Highlands Natural Resources Plc, Mercia Technologies PLC, Netscientific PLC, SkinBioTherapeutics PLC, Saffron Energy plc

Published: 19:52 05 Oct 2017 AEDT

no_picture_pai

What’s cooking in the IPO kitchen?

AIM

Alpha Financial Markets Consulting— Global provider of specialist consultancy services to the asset and wealth management industry. Due Oct. Revenue of £6.7 million for the year ended 31 March 2011 to £43.6 million for the year ended 31 March 2017. Offer TBA.  Due 11 Oct.

Cora Gold— West African focused gold exploration business, significantly enlarged by the amalgamation of the gold exploration assets in Mali and Senegal of Hummingbird Resources  and Cora Gold's former parent, Kola Gold. Due 9 Oct. Offer TBA

Springfield Properties—Scottish housebuilder. “Our turnover exceeded £100 million for the first time this year and now we employ around 500 people. This IPO is the next step in our growth.” Expected Mid October. Offer TBA.

OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.

Main Market Standard Listing

SolGold—Publication of prospectus regarding transfer from AIM. Due 6 Oct

Glenveagh Properties— Dual Dublin and London IPO. Irish homebuilder with a principal focus on the Greater Dublin Area. The Group will combine an attractive land bank with a Gross Development Value of c.€1.1 billion. Seeking to raise gross proceeds of up to €550 million. Due 10 Oct

Main Market Premium Listing

People’s Investment Trust—Objective of sustainable wealth creation. Also to list on the Social Stock Exchange. Targeting £125m raise on 17 Oct. No performance fees or executive bonuses in order to focus on long term rather than short term performance.

ContourGlobal LP—Report on Bloomberg that the thermal energy power generator is considering a London listing.

 

 
Breakfast buffet

Highlands Natural Resources (LON:HNR) 26.25p £27.46m

Highlands has executed an Amendment to the Farm-in Agreement originally announced on 16 December 2016 at its East Denver Niobrara shale oil and gas project in Colorado.  The Amendment provides Highlands with an extended timeline and greater operational flexibility to facilitate the full-field development of the East Denver opportunity, where fracking operations are currently underway at the Wildhorse and Powell wells.

Extends end date from 31 December 2018 to 31 December 2020, providing additional time for Highlands to fully develop the acreage -    The allowable timeline from drilling to completion of each well is extended from 180 to 270 days, which allows for more efficient pad-based drilling of multiple wells in batches as opposed to individual wells -  The allowable timeline between the completion of one well and the commencement of a subsequent well is extended from 90 days to 180 days, which also facilitates efficient phase-based operations.

SkinBioTherapeutics (LON:SBTX) 10.13p £12m

FYJun17 (Maiden) results form the life sciences company focused on skin health. De minimis income and PBT loss of £688k including £211k IPO costs.

Research agreement with the University of Manchester for 'development of a bacterial lysate as a novel agent to combat infections'

Successful demonstration of the three modes of action of the SkinBiotix® technology.

Initiating scale up of lysate manufacture with third parties.

Post year end: SkinBiotix® passed cytotoxicity test. Targeting completion of a cosmetic human study in 2018

Saffron Energy (LON:SRON) 4.38p £6.73m

Saffron has entered into non-binding conditional heads of terms  with Sound Energy PLC  and Po Valley Energy Limited under which it is proposed that Saffron Energy acquires both Sound Energy's and Po Valley Energy's portfolio of Italian interests and permits. The proposed acquisition by Saffron of Sound Energy's and Po Valleys Italian natural gas and oil assets as contemplated in the transaction adds significant larger assets to the Saffron portfolio including the Selva onshore gas field (2C 17bcf), the Teodorico offshore Adriatic gasfield (47bcf) development and the large Torre del Morro and Santa Maria Gorretti and Dalla gas exploration licences plus two smaller gas production fields. The enlarged company would be re-named Coro Energy Plc. Acquisition to be satisfied by issue of 185.9m shares.

Saffron Energy is temporarily suspended

Sandal (AQSE:SAND) 29.5p £4.9m

FYMay17 results. Turnover increased by 13.7% to £3.75m (2016: £3.3m) and the Company      returned to profitability (£8k from £81k Loss).  Cash of £162k.

Energenie MiHome range expanded and sales increased by 154%.  Higher than expected revenues at Power Connections

 

Energenie MiHome Gateway hubs increased by over 350% with number of devices attached to the hub grew by over 475% .

 

Products stocked by a number of the major retailers in the UK and is also     integrated with the major players in the home automation market.

 

Since the year end the Company has announced successful integrations with Google Home, Control 4 and are a launch partner with the new Amazon V3 API.

Altus Strategies (LON:ALS) 8.38p £9.02m

“The Africa focused exploration project generator, announces the discovery of multiple high grade gold bearing quartz veins at the Company's Laboum gold project ("Laboum" or the "Project") in northern Cameroon.

 

Highlights:

·     995m of quartz veins mapped to date with veins up to 250m long and 40m wide

·     Grab samples including elevated gold grades of 24.50 g/t, 16.15 g/t and 3.04 g/t Au

·     Hosted within silicified and sheared metasedimentary rocks with grades up to 6.86 g/t Au

·     High resolution ground magnetic data indicates potential for further vein discoveries

·     Systematic channel sampling programme to commence in October”

NetScientific (LON:NSCI) 42.5p £29.34m

The transatlantic healthcare IP commercialisation Group, announces that a Japanese patent exclusively licensed to one of its portfolio companies, Glycotest, has been granted. The patent protects fucosylated kininogen-a key biomarker in the Glycotest's lead HCC Panel test for early-stage liver cancer. This patent expands Glycotest's patent portfolio which has 10 previously granted or allowed patents. As announced on 28 September 2017, the Company is on track to close a Series A round within the second half of 2017. Glycotest' lead product, HCC panel, has demonstrated in two studies of 208 patients and 127 patients respectively that it has the potential to outperform the current dominant blood test (AFP) regarding the early detection of HCC in patients with cirrhosis. NetScientific holds an 87.5% stake (67% on a fully diluted basis) in Glycotest.

Motif Bio (LON:AMP) 45.25p £119.07m

The clinical stage biopharmaceutical company specialising in developing novel antibiotics, today announced positive topline results from REVIVE-2, a global Phase 3 clinical trial evaluating the investigational drug candidate iclaprim in patients with acute bacterial skin and skin structure infections (ABSSSI).

Iclaprim achieved the primary endpoint of non-inferiority (NI) (10% margin) compared to vancomycin, the current standard of care, at the early time point (ETP), 48 to 72 hours after the start of administration of the study drug, in the intent-to-treat (ITT) patient population. Iclaprim also achieved NI (10% margin) at the test of cure (TOC) endpoint, 7 to 14 days after study drug discontinuation, in the ITT patient population. Ilcaprim has fast track designation from the FDA.

(Also a core holding of Amphion Innovations (AMP.L))

Norman Broadbent  (LON:NBB) 11p £4.58m

“A leading provider of Talent Acquisition & Advisory Services, comprising Board & Executive Search, Interim Management, Research & Insight, Leadership Consulting & Assessment, and executive level Recruitment Solutions, is pleased to announce the appointment of William Gerrand as Chief Financial Officer ("CFO") and Chief Operating Officer. He will be joining the Board with immediate effect.

William, 46, replaces James Webber who, as announced on 22 August 2017, has decided to pursue other business interests. James has agreed to  remain with the Company until the end of October to work closely with William to ensure a smooth transition.

William, who has extensive experience in finance, recruitment and financial leadership has worked in Corporate, Private and PE organisations including a number of senior international roles.”

Mercia Technologies (LON:MERC) 33.75p £100.7m

The national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, announced that “one of its third party managed funds, the RisingStars Growth Fund, has completed a further cash realisation from Blue Prism Group plc, representing to date a 55x return on the Fund's original investment. Blue Prism (AIM: PRSM), a global leader in Robotic Process Automation, listed on AIM in March 2016 at 78.0pence per share, with a market capitalisation of £49.0million. Today, the UK-based software company is valued at in excess of £600m. The aggregate cash return to date for the Fund totals £49.1m which provides a 55x return on the original £900,000 invested.” This excludes the potential value of the remaining 4.9% stake. Mercia  benefits from a modest profit share/ carried interest. Mercia does not have a direct stake in PRSM as the  investment occurred prior to Mercia's acquisition of Enterprise Ventures.

Angle (LON:AGL) 36p £26.93m

The liquid biopsy specialist announced the conditional acquisition certain assets of Axela Inc  for c.£3.7m. Raising £12.2m at 35p. These assets ‘enable the downstream analysis of circulating tumour cells (CTCs) harvested by ANGLE's Parsortix™ system. These assets, in combination with ParsortixTM, are expected to enable ANGLE to offer a full liquid biopsy "sample to answer" solution. Axela is a highly sensitive platform that can analyse up to 100 genes simultaneously and at a low cost. Its performance was proven analysing the CTCs harvested by Parsortix™ in our US ANG-003 200 patient ovarian cancer study. We believe the Parsortix™ Axela combination will provide a highly effective cancer gene panel solution based on a simple blood test that has the potential to enable precision medicine and transform cancer care in the future.’ Axela reported revenue of CAD335,000 and an LBITDA of CAD348,000 for the HY 31 March 2017. FYApr18E rev £1.08m and £7.36m loss.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

4 hours, 29 minutes ago