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Breakfast News - AIM Breakfast : 7digital, Armadale Capital PLC, ANGLE plc, Berkeley Energia, Eco Animal Health Group Plc, Osirium Technologies, PowerHouse Energy, Time Out Group Plc, Toople

Breakfast News - AIM Breakfast :  7digital, Armadale Capital PLC, ANGLE plc, Berkeley Energia, Eco Animal Health Group Plc, Osirium Technologies, PowerHouse Energy, Time Out Group Plc, Toople

What’s cooking in the IPO kitchen?


Touchstone Exploration— Oil exploration and production company active in the Republic of Trinidad and Tobago.  Interests of approximately 90,000 gross acres. Production c. 1,300 boepd. Raising £1.45m. Expected mkt cap £7.5m. Due 26 June.

I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK.  Offer TBC, 7 June admission.

Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p.  Admission in Early June

Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.

Main Market Premium Listing

DP Eurasia—Intention to float from the  exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia . £20m primary raise plus a partial vendor sale.

Film Finances—Sky News reports that ‘movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds.’  Expected ‘during the summer’.

AIB—Intention to float from  AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Prospectus and announcement of the price range due in mid-June 2017.

Curzon Energy—Report on Proactive Investors of intended LSE float this year  with acquisition of  coal bed methane assets in Oregon. Looking to raise £3m plus.

NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.

Flying Brands (FBDU.L)—Prospectus approved by FCA. RTO of Stone Checker Software,  supplier of technology solutions in the field of kidney stone analysis and prevention. Has raised £550k at 3p. Subject to GM on 15 Jun.

AEW UK Long Lease REIT—Intention to Float. Up to £150m raise. Admission early June. UK specialist and alternative property

Kuwait Energy— $150m raise plus vendor offer. Admission due June.  2p reserves 810.0 mmboe 

Breakfast buffet

Toople* (LON:TOOP) 3.25p £3.25m

The  provider of bespoke telecom services to UK SMEs, announced that it received a strong response from investors pursuant to Initial Closing of the Subscription and Offer and that it has raised aggregate gross proceeds of £1.41 million (@2p).  Net proceeds after Costs is £1.26 million which, as set out in the Company's Prospectus, will be used for marketing and customer acquisition activities and general working capital.  “The fundraising, from both new and existing investors, has exceeded the Minimum Net Proceeds sought and will enable us to target accelerated growth of Toople plc and build on the successful demand generation campaign which we ran earlier in the year."

ECO Animal Health (LON:EAH) 616p £405.69m

Receipt by a subsidiary of a marketing authorisation from the National Pharmaceutical Regulatory Agency of Malaysia for the use of Aivlosin® in chickens laying eggs for human consumption. This approval, the second in Southeast Asia, follows  European approval received June 2016. ECO will start selling Aivlosin® in Malaysia for the medication of drinking water for the treatment of infections caused by Mycoplasma in poultry laying eggs for human consumption, with a zero day drug withdrawal period for eggs. Has begun process of submitting  Aivlosin® regulatory files for the treatment of layers in numerous other key egg producing markets. It is for the treatment of a variety of economically important respiratory and enteric diseases in poultry/pigs. FYMar18E £59.8m and £13.88m

Armadale Capital (LON:ACP) 1.53p £3.69m

The investment company focused on natural resource projects in Africa, announced an update on the Company’s 2017 exploration programme at its Mahenge Liandu Graphite Project in Tanzania. Drilling contract signed and mobilisation underway ahead of 2.5km drilling programme due to start at Mahenge Liandu. Objective of drilling programme is to increase both the quantum and confidence category of the maiden JORC Resource estimate of 40.9Mt at 9.41% Total Graphitic Content. “Although delayed somewhat by an extended rainy season, I am confident that we remain on target to increase our total Resource tonnes and also move a substantial portion of our maiden JORC Resource into the higher confidence Indicated category to enable a prefeasibility study to commence before the end of the year.”

Redstone Connect (LON:REDS) 1.4p £29.1m

AGM Statement from the provider of technology and services for smart buildings and commercial spaces.  "2016 was a year of substantial progress for RedstoneConnect as we completed the Company's restructuring and set out a new strategy to become a leading provider of software technology and services in the Smart Buildings and Commercial Spaces market. I am pleased to report the momentum achieved in the previous year has continued into the current financial year.” FYJan18E rev £49.9m and £2.3m PBT. 14x PE.


Berkeley Energia (LON:BKY) 47p £119.6m

Berkeley has commenced the next phase of its exploration campaign focussed on discovering additional deposits with similar characteristics to Zona 7, is located close to the surface and without a strong radiometric anomaly present. The discovery of high grade extensions at the Zona 7 deposit in late 2014 transformed the economics of the project and changed the Company's geological model for the region. In parallel with ongoing development on site, the Company continues to conduct exploration with  potential to increase the project's production profile or mine life. Once in production, it will be one of the world's biggest producers supplying over four million pounds of uranium concentrate a year.

TimeOut (LON:TMO) 132.5p £173.8m

The global media and entertainment business with food and cultural markets, has acquired Print and Digital Publishing Pty Limited, the Group's Australian licensing partner. The partner runs Time Out in five cities in Australia.  1.7m shares issued in connection with the deal. The acquisition provides the Group with further growth and monetisation opportunities across e-commerce, advertising and Premium Profiles. The acquisition follows the addition of Time Out Hong Kong in March 2017 to the Group's network of owned and operated businesses which now comprises 71 cities in 17 countries. Including its licensing partners, Time Out has a worldwide presence in 108 cities across 39 countries. FYDec17E £45.3m rev and £19.5m loss.

Powerhouse Energy Group (LON:PHE) 0.885p £8.13m

The company focused on ultra high temperature gasification waste to energy systems, and the creation of Distributed Modular Gasification© (DMG), announced a collaboration agreement with a UK partner involved in the development of energy and waste projects.  Subject to achieving certain performance milestones of the G3-UHt demonstration unit sited at Thornton Science Park and to entering into an option to lease land to site the units, the partner has committed two tranches of funding of up to  £500,000 in aggregate to meet the cost of preparing and funding applications for planning permission and environmental permits of the initial demonstration unit and first five PHE Waste-to-Energy G3-UHt systems.

Osirium Technologies (LON:OSI) 94.5p £9.82m

The UK based cyber-security software provider, has been included in the list of "Cool Vendors" in the "Cool Vendors in Identity and Fraud Management 2017' report by Gartner, Inc. "We believe being included in Gartner's Cool Vendor report is very significant for this business.  Also, we feel seeing Osirium's PAM platform evaluated in this report demonstrates the teams dedication and innovative approach in breaking through the cyber security newsflow with a really exciting niche.  For us, this is a company-wide achievement and we will certainly be enjoying the attention and benefits of becoming a Cool Vendor."

7digital Group (LON:7DIG) 5.9p £9.19m

The specialist in end-to-end digital music solutions, will power a forthcoming high resolution streaming service from the founders of HDtracks. The HDmusicStream service will use MQA technology to deliver studio quality music, while 7digital will handle app development, host the music catalogue on its platform and deliver tracks to consumers. Recent announcements by Sony Music Group & Merlin confirm that MQA has secured major and independent label support for its technology, Along with Warner Music Group and Universal.  Expected to launch in H2. FYDec17E £19.3m rev and £0.4m loss.

ANGLE (LON:AGL) 53.5p £40m

The specialist medtech company, announced that researchers have presented successful results from their work using ANGLE's Parsortix system in colorectal cancer at the American Society of Clinical Oncology. The study demonstrates use of the Parsortix system to predict resistance to cancer drugs. The results show that in a prospective study of 47 metastatic colorectal cancer patients, researchers were able to use Parsortix to harvest circulating tumour cells (CTCs) and were able to analyse these cells for the presence or absence of meEGFR.   meEGFR is already associated with a patient's likely response to EGFR inhibitors, a key drug class in the treatment of colorectal cancer.

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