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Breakfast News - Pelatro, Fusion Antibodies and others

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What’s cooking in the IPO kitchen?

AIM

Pelatro— The precision marketing software specialist. Due 19 Dec. Raising £3.8m new money plus £0.6m vendor sale. 62.5p. Mkt cap £15.2m. HYJun17  revenues increased to US$1.55m from US$0.2m and profit before tax increased to £1.0m from a small loss in the comparable period.

Fusion Antibodies— Sch1 from the Belfast based contract research organisation providing services to biopharmaceutical and diagnostics companies that are involved in the development of antibodies for both therapeutic drug and diagnostic applications. Offer to raise £5.5m for the Company and £1.075m for selling shareholders at 82p with market cap of £18.1m. Due 18 Dec

Erris Resources plc—a mineral exploration and development company currently focused on two geographic areas. Offer TBC, expected 21 December 2017

CIP Merchant Capital—Closed ended investment Company. Sector focus oil & gas, healthcare, pharma, and real estate. Offer TBA. Due 21 Dec

Panthera Resources— The Company was established to act as a holding company for Indo Gold Limited, an unlisted Australian registered company. The Company aims to explore and develop gold assets in India and West Africa. Offer TBC, expected 20 Dec

Sumo Group—one of the UK's largest independent developers of AAA-rated video games providing both turnkey and co-development solutions, including initial concept and pre-production. Offer TBC. Due late Dec

Pelatro—provider of proprietary software solutions to enterprise-level customers for various aspects of precision marketing for use in B2C applications. Offer TBC, expected 19 December 2017

Fusion Antibodies—contract research organisation providing services to biopharmaceutical and diagnostics companies that are involved in the development of antibodies for both therapeutic drug and diagnostic applications.  Raising £5.5m at 82p plus £1.075mn vendor sale. £mkt cap £18.1m Due 18 Dec.

Sirius Petroleum—RTO. Becoming an operating company in the Ororo Field in Nigeria. Raising £7.2m/ Mkt Cap £35.6m.  Due 19 Dec.

Bushveld Minerals—RTO of Bushveld Vametco and therefore 78.8% of Strategic Minerals Corporation, the intermediate holding company that owns a 75 per cent. interest in the Vametco Vanadium Mine.

Eqtec—Company with access to a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity.  Raising £1.6m. Mkt Cap £8.7m. Due 21 Dec.

Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £71m market cap. FYMar18E rev £241.5m and £7.19m PBT

Miriad Advertising—Global video advertising company incorporated in 2015 and is engaged in the development of native in-video advertising. 2016 rev £0.7m and £7.3m operating loss. Offer TBA. Expected 19 Dec.

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 Specialist Fund Segment

Sure Ventures –Raising  up to £50m at £1. Focus on FinTech, IoT and Augmented/Virtual Reality. Due 22 Dec.

Tufton Oceanic Assets  -  intends to invest in a diversified portfolio of secondhand commercial sea-going vessels . Aiming to raise over $100m. Due 20 Dec

 

Main Market Standard Listing

Shefa Yamin minerals company focused on the exploration for precious stones in Northern Israel. Net Proceeds will be used to advance the Company's mining project. Due 18 Dec.

 

Main Market Premium Listing

GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.

Greensphere Capital -$500m raise.  Aims to provide Shareholders with an attractive yield from a portfolio of sustainable infrastructure assets diversified by geographies and sectors and to realise long-term growth  capital value.  Due 20 Dec

Vivo Energy—The Africa-focused company, which operates around 1,800 Shell forecourts across 16 countries  reported by City A.M. to be preparing for a London float next year

 
Breakfast buffet

MediaZest* (LON:MDZ) 0.15p £1.8m

HYSep 17 results from the creative audio-visual company. 

· Revenue of £1,339,000, down 9%

· Gross profit was £643,000, up 2%.

· Gross margins improved to 48.

· EBITDA was a loss of £87,000. Cash £103k.

Slippage of two key projects into subsequent periods, worth £300k turnover. Without this slippage, the results would have represented the Group’s best Operating results to date for any half-year period. The Board hopes that the Company will deliver a consolidated full year profit at EBITDA level for the first time.  Client acquisition continued apace and the Group was pleased to add new clients Hewlett Packard (for in-store work in EMEA, Godiva Chocolates, Volkswagen UK, European Bank for Reconstruction and Development, and BMW.

Independent Oil & Gas (LON:IOG) 18p £19.74m

“The development and production focused Oil and Gas Company, is pleased to announce that licence P1736 that contains the Blythe gas discovery has been extended by 12 months to 31st December 2018.

The Blythe gas field contains 33 BCF of 2P reserves and is an important part of the combined Blythe and Vulcan Satellites hub developments.  The Field Development Plan ("FDP") for Blythe was initially submitted in December 2016 and re-submitted in July 2017 as part of a joint development plan with IOG's nearby Elgood discovery.  First gas is expected from the Blythe Hub in the middle of 2019.”

Hummingbird Resources (HUM.L) 36p £1274m

“Hummingbird Resources is pleased to announce that ore commissioning has commenced at the Yanfolila Gold Mine in Mali ("Yanfolila" or "the Project").

Highlights:

·    Introduction of ore to the mill and the carbon in leach ("CIL") process plant from the run-of-mine ("ROM") pad stockpile has commenced

·    First gold production expected before the end of December

·    Commercial ramp up during Q1 2018 with a target of delivering c.130,000 ounces of gold during the first full year of production”

Aggregated Micro Power Holdings (AMPH.L) 85p £36.7m

HYSep17 results from the distributed energy company specialising in the sale of wood fuels and the financing and installation of distributed energy projects including biomass boiler ESCOs (energy supply contracts), stand by power generation and battery storage facilities. ·    Group revenues increased 217% to £11.2m (H1 2016: £3.5m)

· Gross profit increased 296% to £2.7m (H1 2016: £0.7m)

·    Loss before tax £2.44m (H1 2016: £1.96m)

The Board expects group turnover to be in excess of £30m for the full year as the second half of the financial year is when the heating season is at its busiest.  Raised £3.7m at 98.5p in November.

Thruvision (THRU.L) 15.5p £25.6m

HYSep17 results from the specialist provider of people-screening technology to the international security market. Completion of sale of Thruvision Group plc's Video Business in October 2017 for a maximum consideration of £27.5m.

·   Total Group of £11.6m with total Group loss before tax of £13.8m of which £11.3m relates to discontinued operations. ·      Thruvision revenues of £0.3m (H1 2017: £0.6m) with segment operating loss of £0.9m (H1 2017: £0.4m) and Central costs, which mainly relate to PLC overheads, of £1.6m

·      Thruvision trading better since completion of sale of Video Business early in H2 ·   Cash at 14 December of £17.3m

·    Process underway to return excess funds from sale to Shareholders.

 

Mporium (LON:MPM) 7.5p £40.09m

The technology firm delivering event-driven marketing, announced an agreement to provide its IMPACT technology product to one of the world's largest and most prestigious performance marketing agencies. The agency operates in more than 50 countries and is part of one of the largest communications groups in the world.

Following a successful trial with one of the agency's top-tier clients, an agreement has been signed which will see IMPACT commercially rolled out within this client's campaigns as well as those for other agency clients. The client is a longstanding member of the Fortune 500 and one of the world's largest global electronic companies.

 

Conviviality (LON:CVR) 385p £683.65m

Has offered to acquire the business and assets of 109 convenience stores and the rights as franchisor of a further 18 franchisee-operated stores trading under the fascia 'Central Convenience' for a cash consideration of £25m. Conditional placing of £30m at 375p.  For the 53 weeks ended 8 April 2017, WSR (the vendor) generated unaudited turnover of c.£75.7m and unaudited EBITDA of c.£3.5m.

FYApr18E rev £1.66bn, PBT £53.02m, yield c.3.5%.

 

Ceres Power (LON:CWR) 12.99p £131.8m

HYDec17 trading update from the developer of the SteelCell® low cost, next generation solid oxide fuel cell technology.

·     First half income expected to increase by ~80% to £3m

·   Key milestones delivered with all partners including Honda, Nissan & Cummins.

·     On track to begin field trials in 2018 with first go-to market product.

·     New Technology Assessment Agreement with a leading Global OEM announced today.

·     Further OEMs in final stages of agreement to work with SteelCell® technology.

FYJun18E rev £5.06m and £10.9m pre-tax loss.

Coinsilium (AQSE:COIN) 12.25p £15m

The blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies, has been appointed as an adviser to the Token Generation Event of Hdac Technology AG, a multinational corporation backed by Hyundai BS&C. Eddy Travia, Chief Executive of the Company, will represent Coinsilium on Hdac's Token Generation Event Advisory Board. “we are impressed by Hdac's ambitious objective to apply blockchain technology to significantly improve the reliability and the security of machine to machine payments in the fast-growing, multi-billion dollar IoT industry.” 

Netalogue Technologies  (AQSE:NTLP) 3.6p £1.8m

HYSep17 results from the provider of solutions for building ecommerce business websites for manufacturers, distributors and wholesalers.    Sales of £479,000 (£317,000). EBITDA loss of £22,000 after expansion costs.  Net Assets of £652,00 with a strong cash balance, no debt, no borrowings. “With the first half seeing continued investment in R&D of the B2B platform coupled with expansion of the team to deliver even higher levels of customer satisfaction we are well positioned for the larger and more complex deals where the Netalogue B2B platform dominates over other solutions.”

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