Breakfast News - AIM Breakfast:Blancco Technology Group,Clinigen Group PLC,Countryliner Group Ltd,Collagen Solutions PLC,Horizonte Minerals Plc,Imaginatik Plc,MaxCyte,Omega Diagnostics Group Plc,OptiBiotix Health plc,Trinity Exploration & Production PLC


What’s cooking in the IPO kitchen?

ADES International — Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa, seeking raise up to $170m plus vendor sale under a Standard Listing of the Main Market. Admission due May 2017. 

Global Ports Holding — Intention to float on Standard List of the Main Market.  International cruise ports operator. Seeking $250m raise including $75m primary offer.

Dorcaster — Schedule One Update. Admission now expected on AIM 3 May. RTO of Escape Hunt raising £14m at 135p.

Verditek — Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May.

ADES International Holding — Intends to join the Standard List of the Main Market in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. 

Tufton Oceanic Assets – Offer extended to 9 May on specialist funds segment of  Main Market to enable investors to complete further due diligence. 


Breakfast buffet

MaxCyte (LON:MXCT) 277.5p £141m

The US-based global Company dedicated to driving the acceleration of discovery, development, m a n u f a c t u r i n g a n d commercialisation of nextgeneration, cell-based medicines, announced today it will present positive preclinical study results at the American Society of Gene and Cell Therapy A n n u a l Meeting (ASGCT).   The new in vitro data demonstrate the potential of MaxCyte's cGMP-compliant proprietary delivery platform to enable CRISPR gene editing in the treatment of sickle cell disease (SCD).  The work demonstrated successful CRISPR-induced corrections of the mutation behind SCD in more than 30 percent of patient-derived B cells. 

Clinigen Group (LON:CLIN) 813p £935.72m

Clinigen’s Idis Managed Access  division and Onxeo S.A have agreed to launch a M a n a g e d A c c e s s programme for belinostat (Beleodaq®) in Europe. Belinostat is for use in patients with relapsed or refractory peripheral Tcell lymphoma (PTCL).  Belinostat is a histone deacetylase inhibitor used to treat refractory or relapsed PTCL. The product received accelerated approval by the US Food and Drug Administration (FDA' in July 2014 due to the unmet medical need in this rare disease. There are no approved treatments for PTCL in Europe.  "There is a huge unmet need for patients with aggressive blood cancers such as PTCL. As the trusted global leader in access to unlicensed medicines, Clinigen is working in partnership with Onxeo to help patients gain access to this important medicine.” FYJun17 rev £302m and PBT of £49.2m.

Collagen Solutions (LON:COS) 5p £16.2m

The d e ve l o pe r a n d manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics, announced preliminary revenue, including other income, of £4.1m for the year ending 31 March 2017 of which approximately £3.95m was trading revenue, representing 26% growth.  This growth has been driven by an increase in the number of customers, higher volumes from key customers and an increase in new development agreements. In particular, the Company has seen its pericardium tissue business grow by 30% resulting in a specific initiative to diversify and increase its tissue supply base in Australia and New Zealand to meet the additional demand. FY2018E rev £5.4m and $1.7m pre-tax loss. 

Omega Diagnostics (LON:ODX) 23.62p £25.69m

The medical diagnostics Company focused on allergy, food intolerance and i n f e c t i o u s d i s e a s e , announces that results for the year to 31 March 2017 will be in line with market expectations. Revenues for the year are expected to be £14.3m (+3% in constant currencies and 12% on a reported basis)  and adjusted profit before tax is expected to be £1.1m. “We have reached a significant milestone in achieving design freeze with our VISITECT® CD4 development programme. We remain confident in completing the verification and validation programme to deliver a unique product which we believe will meet a large unmet medical need for people living with HIV infections in resource-limited countries.” FYMar18E rev £15m and PBT of £1.28m.

Horizonte Minerals (LON:HZM) 2.65p £31.1m

The nickel development Company focused in Brazil, announced the award of three new mineral exploration concession areas adjacent to the Araguaia North deposits forming part of Horizonte's 100% owned Araguaia nickel project which is being developed as the next major nickel project in Brazil. Three new concessions awarded, totalling 1,748 ha, are located in prospective locations containing ultramafic intrusion of a similar type to those hosting the high-grade nickel resource at Araguaia's Vale dos Sonhos deposit. Further applications totalling an area of 6,186 hectares have also been filed. Feasibility Study is progressing on schedule and on budget for delivery by the end of 2017.

Optibiotix Health (LON:OPTI) 72.5p £56.94m

FYNov16 results from  the   life sciences business developing compounds to tackle obesity, high cholesterol and diabetes. Revenue of £288k. From £28k. Losses stable at £1.5m. Cash of £3.1m. Period highlights include commercial agreements with KSF (Slimfast) and Royal DSM. Post period highlights include admission of majority o w n e d SkinBioTherapeutics to AIM and European manufacturing, supply and profit sharing agreement with Sacco S.r.l.  “We hope to build on this early success with the launch of our LPLDL® cholesterol reducing product in May of this year .”

Redstone Connect (LON:REDS) 1.92p £26.32m

FYJan17 results from the  provider of technology and services for smart buildings and commercial spaces. Revenue up 3.5% to £41.5m. Gross profit up 33% to £9.2m. Profit after tax of £2.1m (2016: loss of £2.2m). Cash of £3.2m (2016: £1.0m) and net cash of £0.8m (2016: £1.0mn). “With the successful programme of software product development achieved during the year, the Group now has an enhanced offering and is well positioned to achieve further growth.  We are focusing our investment on building sales capabilities, enabling the business to rapidly scale and to fully capitalise on the market opportunity by becoming a leader in the supply of smart b u i l d i n g solutions.”  FYJan18E rev $49.7m, PBT £2.3m. 

Imaginatik (LON:IMTK) 2.25p £3.42m

FYMar17 trading update from the innovation Company. The Company expects to report an adjusted loss after tax of £0.55m, broadly in line with market expectations. The result is stated net of an exceptional foreign exchange loss of £0.23m. Revenues flat at £3.9m. 76% renewal rate. Good progress on customer wins. 9 of 15 on multi year contracts. Several partnerships entered in H2. The directors continue to carefully monitor the Company's cash position and to consider the options available. FY Mar17E £4.2m rev and £0.5m pre-tax loss.

Trinity Exploration (LON:TRIN) 15.5p £43.77m

Q1 update from the exploration and production company focussed on Trinidad and Tobago. Average production 2,542 bopd from 2,896.  Average prices $39.4/bbl from $45.4. Cash of $13m following fundraising in January and creditor settlements.  12 well recompletions planned for 2017. Potential to increase production to 3,000 bopd. FYDec17E revenue £38.7m and pre-tax profit of £2.43m. 

Blancco Technology Group (LON:BLTG) 216p £125.7m

Q3 update. Group sales in the period were up 48% year-on-year on a constant currency basis, comprising 36% growth in erasure and 189% pro forma growth in diagnostics.  In the first nine months of the year, Group sales increased 34% year-on-year in constant currencies, with erasure growth now at 26% and pro forma diagnostics growth at 137%.  The outlook for full year 2017 sales and adjusted operating profit remains in line with market expectations. The Company has revised its projection for group net debt to around £5.5m at June year e n d a n d r e q u i r e s additional funding of a minimum of £4m over the coming weeks to address the working capital position and increase headroom. Initiating discussions with bankers and shareholders. FYDec17E rev £31.87m. PBT £7.27m. Div 2.13p.

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