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Breakfast News - Erris Resources PLC, Panthera Resources, Sumo Group, Pennpetro Energy , Bushveld Minerals and others

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Dish of the day

Erris Resources plc (AIM:ERIS)—a mineral exploration and development company currently focused on two geographic areas. Raised £4m at 25p. Mkt cap £7.8m.

Panthera Resources (AIM:PAT)— 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. No raise. £12.4m mkt cap at 20p

Sumo Group (AIM:SUMO) —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. Raising £38.45m and vendor sale of £39,7m. Mkt cap £145m.  

Pennpetro Energy  (PPP Standard Main Mkt) Independent oil and gas co with an initial focus on Texas. Due 21 December. No funds being raised at this point.  £17.7m mkt cap  at 25p

Bushveld Minerals (LON:BMN)—RTO (under AIM rules) 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. Readmission today.

 

Off the menu   

Paysafe has left the main market (premium) following a cash offer.

      
What’s cooking in the IPO kitchen?

NEX Exchange

Whetstone Capital No raise. Due 5 January 2018. Mkt Cap £1.6m. Investment Vehicle for small and mid sized private and public companies. AIM CIP Merchant Capital—Closed ended investment Company. Sector focus oil & gas, healthcare, pharma, and real estate. Raising £55m. Due late Dec 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 late Dec. Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £75m market cap. FYMar18E rev £241.5m and £7.19m PBT. 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. Foc 
 
 
Breakfast buffet

WideCells Group (LON:WDC) 13.75p £8.9m

Corporate update from the company focused on providing stem cell services and ground-breaking insurance for stem cell treatment.  Strengthening of Board plus new scientific advisory committee. Alan Greenberg moves to Group Exec Director. Mr. Peter Presland, Mr. Malcolm Glaister and Mr. Zakaria Aziz have joined the Board of WideCells Group, as Non-Executive Directors, with Mr. Peter Presland assuming the Chairman position. The three new directors bring a wealth of corporate experience to support WideCells Group's targeted growth initiatives as it looks to increase its global profile and build sales across its innovative stem cell services portfolio. Graham Hine retired.

Uranium Resources (LON:URA) 0.06p £0.17m

Completion of £900k placing at 0.45p. As announced yesterday, Melissa Sturgess and Peter Redmond have joined Alex Gostevskikh on the Company's board of directors.  Melissa and Peter have many years of experience working with and re-structuring AIM-quoted companies.

Their appointments reflect the Company's new strategy to acquire a substantial business that will deliver strong capital growth and/or earnings.

 

Legendary investments (LON:LEG) 0.16p £4.81m

“Legendary is pleased to announce that it has entered into an agreement to acquire 9.7% of Crowd for Angels (UK) Limited ("CfA") at a post money valuation for CfA of £3.7m. CfA owns and operates the "Crowd for Angels" crowdfunding platform.” All share consideration. First crowd funding platform to be launching its own Liquid Crypto Bond with attached crypto tokens through an Initial Coin Offering. Since its Launch, CfA has completed 9 fundraisings and helped raise over £3m for investee companies. With the imminent launch of its £50m Liquid Crypto Bond, CfA is now entering a new and exciting phase of its development. For the year ended 30 June 2017, CfA had losses of £192k.

 

Marlowe (LON:MRL) 380p £130.69m

The support services group focused on acquiring and developing companies that provide critical asset maintenance services, announces that it has acquired Guardian Water Treatment Limited and GPCS Limited ("Guardian") for up to £2.8m on a cash and debt free basis.  For the year to 31 March 2017, Guardian reported revenues of £6.4m, adjusted profit before tax of £0.4m and net assets of £2m. The total enterprise value comprises an upfront cash consideration of £2.4mand a cash earn-out capped at £0.85m. The acquisition will be financed from the Group's existing cash resources.  FYMar18E rev £72.86m and PBT £5.28m, yield c.1%

CityFibre (LON:CITY) 59p £373.26m

The “designer, builder, operator and owner of fibre optic infrastructure in UK towns and cities, is pleased to announce its largest public sector award to date, extending its existing Gigabit City network in Glasgow to 506 Glasgow City Council ('GCC') owned sites in an agreement with a lifetime value of £15.7m over 19 years.

The initial seven-year term carries a minimum initial contract value ('ICV') of £6.4m, with options to extend to a maximum of 19 years, and will be delivered in conjunction with national telecommunications provider Commsworld. The deal represents CityFibre's largest project to date and the largest UK public services metro network award in 2017.”

FYDec17E rev £31.36m and PBT loss £8.35m.

 

Transense Technology (LON:TRT) 67p £6.4m

AGM Statement from the technology transfer Company which develops Surface Acoustic Wave (SAW), wireless, battery less, sensor systems for the automotive market. "Trading since the start of our financial year in July has benefitted from an increased contribution from both Probes and iTrack II and the Board expect a similar financial performance to the equivalent prior year period. Since the financial year end we have announced two new iTrack II rental deals with BHP covering 66 new rental units. These new rental deals continue to build recurring cash flow for the future. The relationship with GE continues to strengthen and this follows the successful completion of rigorous testing of our SAW sensor technology.” We could see no forecasts

 

Directa Plus (LON:DCTA) 45.5p £20.12m 

The “producer and supplier of graphene-based products for use in consumer and industrial markets, announces that it has received an order from Vittoria to supply 250 kilos of the Company's Graphene Plus (G+) for incorporation into Vittoria's range of graphene-enhanced bicycle tyres and wheels. The order is due to be delivered in Q1 2018. This follows the receipt of a smaller order earlier in the year and the Company expects to receive further orders during 2018.

Vittoria is the world's leading manufacturer of bicycle tyres, with an annual production of more than seven million tyres. Vittoria is the longest established partner of the Company, having first officially engaged in a collaboration with Directa Plus in 2012.” We could see no forecasts.

 

Warehouse REIT LON:WHR) 102.5p £171.8m

“The specialist warehouse investor, announces that it has exchanged contracts to acquire a portfolio of seven industrial assets in the North West of England for £18.25m, reflecting a net initial yield of 7%. This latest transaction, which will complete over the course of today, brings the Company's assets under management to £167m, as it continues to successfully deploy the proceeds of its AIM listing in September 2017.

The portfolio totals 326,254 sq ft and comprises a diverse mix of asset types with an average unit size of 15,000 sq ft”

 

Arix Bioscience (LON:ARIX) 185.5p £181.13m

The “global healthcare and life science company supporting medical innovation, today announces that it has co-led a $30m Series C financing round for Aura Biosciences. Aura is developing a new class of therapies to selectively destroy cancer cells. Its lead candidate is targeting ocular melanoma, a rare and aggressive eye cancer that can lead to loss of vision and potentially fatal metastasis.

The $30m fundraising was co-led by Arix Bioscience and Lundbeckfonden Ventures, and included existing investors Advent Life Sciences, Chiesi Ventures, Ysios Capital, Alexandria Venture Investments, Columbus Venture Partners, LI-COR Biosciences and several individual investors, including the estate of Henri Termeer.”

 

Mountfield Group (LON:MOGP) 1.7p £4.3m

“The Directors of Group are delighted to announce that MBG has been awarded two new contracts with an initial aggregate value of £1m, with the work on both to be undertaken primarily in 2018.

The first contract, which has been awarded by a major European main contractor, is valued at £375k and is for the first phase of the architectural fitting out to a large new data centre project in Middlesex. The contract is expected to run with additional phases throughout 2018 and could potentially bring the company further contracts to the value of £1m.” We could see no forecasts.

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