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Breakfast News - AIM Breakfast : 21st Century, Caspian Sunrise, Deltex Medical Group plc, Flying Brands Ltd, Ncondezi Energy, Premaitha Health, PowerHouse Energy, Plastics Capital Plc, Scientific Digital Imaging, Strategic Minerals Plc

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What’s cooking in the IPO kitchen?

AIM

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, 26 May 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 late May.

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

Main Market Premium Listing

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 (LON:FBDU)—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

Main Market Standard Listing

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.

Main Market Specialist Funds

PRS REIT—Private rental sector REIT raising up to £250m.  Admission due 31 May

  
  
 
Breakfast buffet

P2P Global Investments (LON:P2P) 877.5p £723.64m

Monthly update. 45bps NAV growth in the month

 

·    Continuing evolution of the portfolio towards new origination channels and secured asset classes, with more attractive risk return profiles

 

·    Share buybacks during the month contributed 7bps versus 16bps last month to NAV per share growth

 

·    12 pence dividend declared for the first quarter of 2017

 

·    35th consecutive month of positive NAV growth since inception

Ncondezi Energy (LON:NCCL) 2.13p £5.3m

Ncondezi has suspended exclusive discussions with Shanghai Electric Power Co., Ltd ("SEP") regarding its Joint Development Agreement ("JDA"). Exclusivity arrangements with SEP have lapsed and Ncondezi will now engage with additional strategic partners who have expressed an unsolicited interest in developing the project alongside Ncondezi.  Furthermore the Company has received indications of interest for an additional US$350k shareholder loan which would fund the Company until 2 September. Ncondezi believes that the ongoing delays in SEP funding the Project is unsustainable and that it is now in the best interests of the Company and its shareholders to suspend exclusive discussions with SEP and to enter into discussions with alternative potential partners.

Plastics Capital (LON:PLA) 122.5p £43.79m

The niche plastics products group, today announces a conditional placing to raise approximately £3.74 million, before expenses, by way of a Placing of 3,194,445 new Ordinary Shares at 117 pence per Placing Share. The net proceeds of the Placing, which are expected to amount to approximately £3.54 million, are to be applied, in part, towards the proposed increase of the Company's stake in the CCM Group, its US based minority investment focused on the production of creasing matrix. In addition, part of the net Placing proceeds will be invested in other parts of the Group in order to increase capacity to satisfy increasing demand for the Group's products and thereby accelerate organic growth. FYMar18E rev £62.7m and 35.1m PBT, Div 13p.

 

Scientific Digital Imaging (LON:SDI) 28.5p £25.32m

FY Apr 17 trading update from  group focused on the design and manufacture of scientific and technology products for use by the life science, healthcare, astronomy, consumer manufacturing and art conservation markets. Reported profits before tax are expected to be in line with management's expectations, with the latest acquisition, Astles Control Systems, as expected making a contribution to the profits of the Group. "We have once again strengthened the Group with the recent acquisition and are pleased with the positive contribution from Astles Control Systems. This is a business model we plan to continue to replicate in order to grow a diversified company with increasing revenue streams." FYApr17E £10.7m rev and £1.9m PBT.

Strategic Minerals (LON:SML) 3.1p £38.3m

FY Dec 16 results from  the diversified mineral production and development Company. Maiden profit from operations of $0.351m (loss of $0.880m). Unrestricted cash position $1.105m (2015: $0.946m). Marketing strategies at Cobre resulted in record domestic sales of $1.55m (2015: $1.25m). The Company continues to maintain controls on its overheads, is focused on expanding Cobre's profitable domestic sales, is undertaking further drilling of the CARE tenements, has commenced the Redmoor drilling programme and is examining potential expansionary projects. Now has lower overheads, a strong cash flow stream from Cobre and the potential upside from drilling programmes in Western Australia and in Cornwall.

Powerhouse Energy (LON:PHE) 0.8p £7.65m

The company focused on ultra high temperature gasification waste to energy systems, and the creation of Distributed Modular Gasification© (“DMG”), has appointed  Roudi Baroudi to its recently established Advisory Panel.  Roudi is a global energy expert with over 37 years experience of international public and private companies across oil & gas, petrochemicals, power, energy-sector reform, energy security, carbon trading mechanisms and infrastructure. In addition, he is currently a member of the United Nations Economic Commission for Europe’s Group of Experts of Gas – this is a body established to facilitate dialogue on promoting safe, clean and sustainable solutions for natural gas production.

 

Premaitha Health (LON:NIPT) 13.63p £34.13m

The leading international molecular diagnostics group focused on prenatal testing, announces that the IONA® test, the Company's CE-IVD non-invasive prenatal test ("NIPT"), has been validated for use on Thermo Fisher Scientific's Ion S5 range of instruments. The validation of the IONA® test on the Ion S5 platform, performed in partnership with Thermo Fisher Scientific, will broaden Premaitha's potential laboratory customer base.  The Ion S5 instrument being widely adopted by laboratories carrying out next generation DNA sequencing globally.  The IONA® test is therefore now a possible NIPT solution for this growing network of laboratories. Allows Premaitha to work with laboratories keen to offer NIPT as part of a wider choice of genetic tests.  FYMar17E  rev £4.1m,  £5.9m loss. 

21st Century Technology (LON:C21) 3.25p £3.03m

FYDec16 results from specialist provider of tailored solutions to the transport community. Revenue £11.6m (2015: £12.2m).  Underlying loss £1.4m before tax (2015: underlying profit £0.05m). Cash £0.5m (2015: £1.0m). £0.3m debt raised. £0.4m invoice discounting facility opened. Cost base restructured to generate £1.4m annualised savings Major framework renewals, and innovative new sales. However financial performance in H2 was poor as orders anticipated earlier in the year did not materialise. “We have created a strong platform for growth and are pleased to be looking to the future with confidence."  Moving from standalone CCTV to fully connected systems.  We could see no forecasts.

Caspian Sunrise (LON:CASP) 9.75p £91.4m

The Central Asian oil and gas company, with a focus on Kazakhstan (Formerly Roxi Petroleum), confirms that the Company expects that all conditions for the Baverstock merger and the associated capitalisation of the $10.1 million Vertom loan, will be concluded by 1 June 2017. The proposed merger has been longed planned and once completed will bring 99% of thr principal asset BNG under direct control removing any funding constraints associated with maintaining the current structure. 

Deltex Medical Group (LON:DEMG) 3.62p £10.76m

The company specialising in Oesophageal Doppler Monitoring ("ODM"), has launched its first ODM system designed specifically for veterinary use which has generated £15,000 on release from the first sale of a system to a leading continental Europe Veterinary University. Deltex is planning the marketing launch of the new system for the annual meeting of the International Veterinary Emergency and Critical Care Symposium ('IVECCS') in Nashville, Tennessee in September 2017. In the meantime it is promoting the system to existing contacts. FYDec17E rev £6.8m and £2m loss

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