Proactive Investors - Run By Investors For Investors

Small Cap Feast - Cohort; Bluebird Merchant; UK Oil & Gas; Gresham Technologies and more ...

Small Cap Feast - Cohort; Bluebird Merchant; UK Oil & Gas; Gresham Technologies and more ...

Set menu

AIM:

Total number of AIM Companies (Incl Susp):

903*

 

Total number of AIM Companies trading:

833*

*as at close of business  22 March 2019

 

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

161*

Total number of Standard List Companies trading:

141*

*as at close of business 22 March 2019

 

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

89*

 

Total number of NEX Growth Market Companies trading: 

87*               

*as at close of business 22 March 2019

*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity

                               

Dish of the day

$477m raised by The Schiehallion Fund  (MNTN) The Company's investment objective is to generate capital growth for investors through making long-term minority investments in later stage private businesses that the Company considers to have transformational growth potential and to have the potential to become publicly traded.  Main mkt Spec Funds.

 

Off the menu      

Realm Therapeutics (ADSs still tradable on NASDAQ) has cancelled its quoting on AIM.

Cradle Arc (in Administration) has left AIM.

                             

What’s cooking in the IPO kitchen?

Main Market (Premium)

US Solar Fund, a newly-established investment company focused on investing in solar power assets mainly in the US, looking to raise $250m at $1. Expected 16 April

 

Main Market (Standard)

Ferro-Alloy Resources Limited, the vanadium mining and mineral processing company focused on Southern Kazakhstan, has published a prospectus outlining its intention to join the Standard List. Raising £5.25m at 70p with market cap of £219m, expected 28 March

 

AIM

Network International Holdings—Pleading enabler of digital commerce across the Middle East and Africa  region, operating across over 50 highly underpenetrated payment markets that contain a total population of 1.5 bn. 2018 rev $298m, underlying EBITDA $152m.  Due April. No new funds to be raised. Secondary sell down. Targeting 25% of at least 25%.

Techniplas –global  producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient.  FYDec17 rev $515m.

               

Banquet Buffet

Inspired Energy (LON:INSE) 18.25p £124.05m

FYDec18 results from  UK energy procurement consultant. Record revenues delivered by the Corporate Division, growing 34% to £27.3m (2017: £20.4m), contributing 84% of Group revenue for the period (2017: 77%). Corporate Division contributed Adjusted EBITDA of £13.8m, an increase of 43% (2017: £9.6m). Corporate Order Book increased 36% to £53.0m (2017: £39m) with strong customer retention and robust performance from significant new customer wins. The Corporate Order Book provides 12 months secured revenue of £26m (2017: £18.6m) for the Corporate Division entering 2019. Excellent cash performance with cash generated from operations up 55% to £10m (2017: £6.5m), further enhancing cash conversion metrics of the Group. “We have had an encouraging start to 2019 and  I am confident that the team will deliver another year of significant growth.”

 

CPP Group (LON:CPP) 6.95p £56.02m

The partner focused, global product and services company, announced its full year results for the year ended 31 Dec 2018.

The Group made further strong progress in its international revenues and customer numbers led by India and Turkey. Further investment has been made in start-ups and technology that will underpin future product development. The European business has been restructured and the UK back book business well managed.

Group revenue increased by 13% to £110.1m (2017 restated: £97m) continuing the strong growth seen in 2017.

Revenue from Ongoing Operations increased by 27% to £88m (2017 restated: £69.4m).

Adjusted underlying operating profit increased by 6% to £5.5m (2017 restated: £5.2m).

 

Goals Soccer Centres (LON:GOAL) 27.2p £20.46m

The Company announced that as part of its assessment the Board has concluded that there has been a substantial misdeclaration of VAT, going back over several years. The final value of the misdeclaration has still to be established, but currently the figure stands at approximately £12m. The Company also expects that the VAT accounting policies they intend to adopt may have an impact on profitability going forward. The Company intends to enter into discussions with HMRC immediately and remains in discussions with our lenders to agree new facilities.

The Company believes the above may lead to a material change in its overall financial position and the Company is currently unable to provide clarity to the extent of that impact without the receipt of further information. As a result the Company has requested that its shares be suspended from trading on AIM.   The Board would also like to confirm that trading since 8 March 2019 has continued to be strong in both the UK and US.

 

Silence Therapeutics (LON:SLN) 41p £29.14m

Silence Therapeutics “announced that a Clinical Trial Application (CTA) for the Company's lead candidate SLN124 has been submitted to the UK Medicines and Healthcare products Regulatory Agency (MHRA).

SLN124, which has been shown to lower serum iron levels, modulate tissue iron distribution and ameliorate anemia in preclinical models for ß-Thalassemia and Hereditary Hemochromatosis (HH), represents a highly promising therapeutic candidate medicine for patients with iron overload disorders, such as ß -Thalassemia, Myelodysplastic syndrome (MDS) and HH. Subject to approval from the MHRA, Silence intends to begin a Phase Ib First-in-Human study in ß -Thalassemia and MDS patients, with the first patient expected to enter the study in Q3 2019.  In Jan 2019, SLN124 was granted Orphan Drug Designation by the Committee for Orphan Medicinal Products

 

Destiny Pharma (LON:DEST) 83p £36.04m

The “clinical stage biotechnology company focused on the development of novel antimicrobial drugs, announced that it has appointed MedPharm as its expert partner to develop new topical formulations of the Company's novel XF-platform compounds. These new treatments for dermal and ocular infections are part of its second clinical programme to address the global problem of anti-microbial resistance (AMR). MedPharm is a world leading contract provider of topical and transdermal product design and formulation development services using sophisticated in vitro models to de-risk development programmes.

The XF platform has already delivered a Phase 2 ready candidate, XF-73 nasal gel, for the prevention of post-surgical infections, that will begin Phase 2b testing in 2019”

 

Cohort (LON:CHRT) 370p £151.55m

The independent technology group, announced that its subsidiary Chess Dynamics Ltd has been awarded a sub contract to provide electro optical (EO) tracking and control systems to be incorporated in to ten ISO containers as part of a counter-UAS solution to the US Department of Defence. The order secured through its US partner Liteye is worth in excess of £3m and will be delivered in 2019.

"This contract win further cements a successful relationship with the US DoD for Chess, building more flexibility into their Counter-UAS capability through the use of easily deployable fully equipped ISO Containers. Together with other recent wins, this contract enhances the visibility of future Group revenue.”

 

Bluebird Merchant  (LON:BMV) 2.35p £5.35m

Bluebird Merchant Ventures, the Asian focused resource development group, announced that during the month of April further metallurgical test work will be undertaken which will confirm the gold production process.

Gold recovery process to be known by the end of April

Preparations to commence at Kochang for the underground drilling campaign

The Company continues to wait for news with regards to the outcome of the application for the assisted drilling programme from KORES.  The Kochang Joint Venture Company was invited to apply for the grant.  All indications thus far suggest a positive response will be forthcoming within the next couple of weeks.

 

UK Oil & Gas (LON:UKOG) 1.12p £68.57m

£3.5m placing at 1.05p, a 12% discount to yesterday’s close.

“As previously reported, prior to this Placing, UKOG and its Group Companies held sufficient cash to fund its share of the forthcoming Horse Hill-1z and Horse Hill-2 horizontal drilling programme plus ongoing regulatory permit and subsurface work on its other key assets. Consequently, the Placing's proceeds will be utilised in the assessment and acquisition of new opportunities, both in the UK onshore and elsewhere. This is in full accordance with the strategy and plans detailed in the Company's latest annual report announced on 15 March 2019.”

 

GETECH (LON:GTC) 27p £10.89m

FYDec18 update from the provider of geoscience and geospatial products. Annual Group revenue is expected to increase to £8m, an 11% rise (FY 2017: £7.2m). Product sales remained the key engine for growth, expanding year-on-year by 24% (FY 2017: 19% growth) and forming c80% of total sales. Before restructuring costs, Getech's 2018 total cost base is expected to be £7.6m (FY 2017 £7.2m). Product investment expanded to approximately £0.9m (FY 2017: £0.8m). Fixed costs fell by £0.1m to £6.3m, whilst variable costs increased by £0.5m; a key driver of which was a greater weighting of data sales in the H2 2018 sales mix.  Crude prices have strengthened and stabilised year-to-date and the breadth of Q1 new sales activity has been greater than in recent years. Balancing this, the lengthening of the sales cycle that emerged in Q4 2018 has persisted into 2019

 

Gresham Technologies (LON:GHT) 89.5p £58.22m

The software and services company that specialises in providing real-time data integrity and control solutions, announced a significant Clareti contract, won in partnership with a leading professional services company, Cognizant Technology Solutions (Nasdaq: CTSH), to transform the global reconciliation and data control operations of a Tier 1 bank. A leading investment bank and wealth manager, identified as a Global Systemically Important Bank (G-SIB), has selected the Clareti platform as the key enabling technology for a complete, global reconciliations managed service to be delivered by one of Gresham's strategic alliance partners. The total software fees chargeable under the contract are £5m over the 5-year term, of which approximately £0.9m is expected to be recognised in 2019. 

 

 

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.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use