Breakfast Alert - WideCells Group, Gordon Dadds Group, SimiGon


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Total number of AIM Companies (Incl Susp):


Total number of AIM Companies trading:


*as at close of business  12 February 2018


Standard List**  of Main Market:

Total number of Standard List Companies

 (Incl Susp):



Total number of Standard List Companies trading:


*as at close of business  12 February 2018


NEX Growth Market:

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



Total number of NEX Growth Market Companies trading:


*as at close of business 12February 2018

                                *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

Rockrose Energy readmitted (LON:RRE) readmitted to standard list following RTO of  Idemitsu Group.  Idemitsu UK's assets comprise, inter alia, a substantial number of producing fields in the North Sea . Market cap c £19.8m


Off the menu   

Red Leopard—RLH delisted under AIM rule 14. Potential RTO may see a new IPO in due course.


What’s cooking in the IPO kitchen?


GRC International Group— holding company for a group of companies providing a range of products and services to address the IT governance, risk management and compliance requirements of organisations. Offer TBC, expected 5 March 2018

Core Industrial REIT—established to invest in Irish-based industrial properties, predominantly located in the Greater Dublin Area . Vendor placing and new funds to a total of €225m, Target gross proceeds €207m.

TruFin—holding company of an operating group comprising three growth-focused FinTech and banking businesses operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. Offer raising £70m at 190p with market cap of £185m, expected 21 Feb

Polarean  - The medical drug-device combination companies operating in the high resolution medical imaging market. Offer TBC. Due 22 Feb

Block Energy—a  NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC


Main Market Specialist Funds

Life Settlement—closed-ended investment company whose principal activities will be to support and manage portfolios of whole and partial interests in life settlement policies issued by life insurance companies operating predominantly in the US.  Due 6 Mar.


Main Market Premium Listing

Energean Oil & Gas—Seeking gross proceeds of c.$500m. Independent oil and gas exploration and production company focused on  exploration, development and production of assets in the Eastern Mediterranean . Due march 2018.

IntegraFin provides platform services to UK clients and their financial advisers through its award-winning platform, Transact. Due Mar 18. FYSep2017 PBT up 44% to £29.9m.

 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.

 CVC (Sky Bet) rumoured to be seeking £2.5bn plus float.

 VC firm Augmentum rumoured to be seeking raise up to £125m.


Breakfast buffet

WideCells Group (LON:WDC) 13.4p £8.7m

The healthcare services group focused on providing stem cell services and ground-breaking insurance for stem cell treatment, is pleased to announce a number of corporate developments.

David Henriques has been appointed to the board as a NED:

* Mr Henriques has significant asset management and corporate finance experience, and is involved with the digitalisation of insurance products

* Wideacademy, the Group's 100% owned education and training division, has successfully launched the first stage of www.wideacademy.

co -  Provides educational content for both the public and medical professionals to raise the profile of stem cell technologies and support the development of the industry.

* Platform combines free-to-access educational areas with paid for premium digital tools and resources for doctors/medical professionals.

We could see no forecasts.


Gordon Dadds Group (LON:GOR) 171.9p £49.16m

“The acquisitive legal and professional services business, is pleased to announce that it has completed the acquisition of Cardiff solicitors, Thomas Simon Limited for £1.88m plus an amount related to net tangible assets.”

 Thomas Simon is a well-established law firm whose main business areas are property (predominantly commercial), corporate, dispute resolution, private client and family.  For the year ended 31 July 2016, Thomas Simon achieved unaudited profit before tax of £0.43m on fee income of £2.09m.

Gordon Dadds recently moved its central Cardiff client facing business into new modern offices in anticipation of further expansion. Thomas Simon's business will be merged with Gordon Dadds' business in the new offices. The support functions for Thomas Simon's business enhance the Group's back office capacity and will be merged with Gordon Dadds' own support functions. FYMar18E rev £ 30.6m, £5.39m PBT.


SimiGon (LON:SIM) 15.25p £7.84m

The specialist “in modelling, simulation and training solutions, is pleased to announce that it has received a prime contract with the US Federal Aviation Administration (FAA) to deliver the Company's SIMbox simulation software, SIMbox simulation development tools, and engineering services for the FAA's Advanced Unmanned Aircraft System Research Simulator ("AURS").

This is a follow-on order from the original contract announced in September 2017 and is worth approximately $120,000 and has been factored into management's expectations for fiscal year 2018.”

 The AURS supports human factors research and safety research within the FAA's Aerospace Human Factors Research Division. SIMbox delivers the user interface for the operators in an aircraft simulation environment as well as a central repository for all components with the embedded configuration management capability.

We could see no forecasts.


Frontier IP (LON:FIPP) 83.5p £31.96m

“Completion of a first fundraising for portfolio company Molendotech Limited. Molendotech has received a commitment totalling £0.5m which will be invested in three tranches. Frontier IP will hold approximately 14% of the issued share capital of Molendotech following the investment of the third tranche. Molendotech develops a novel test which is able to identify the concentration of faecal bacteria in water. Molendotech's rapid, point-of-use test to determine water quality enables more informed decision-making about the use of water and significantly improves the ability to identify and track any pollution source.” Gaining commercial tractions.


Europa Oil & Gas (LON:EOG) 3.97p £11.97m

“Europa Oil & Gas, the UK and Ireland focused exploration, development and production company, is pleased to note a draft decision advertisement issued by the Environment Agency on 15 February (http:// bit.ly/2C3rPDh) that it is inclined to award a bespoke environmental permit for drilling and testing the Holmwood exploration well in PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Further information can be found on the Environment Agency website http:// bit.ly/2Eu00ph.

A four-week public consultation process runs from 15 February to 15 March 2018. The Environment Agency issued a press release on 16 February 2018 regarding the consultation process. For further information, follow this link: http:// bit.ly/2Buoa05.”


Directa Plus (LON:DCTA) 50.5p £22.33m

The producer and supplier of graphene-based products for use in consumer and industrial markets, announces that the Ufficio Brevetti e Marchi (Italian Patent and Trademark Office) has granted the Company a patent for the product and application of its new graphene-based solution for enhancing the performance of tyres. Specifically, the patent covers Directa Plus' 'elastomeric composition comprising graphene and tyre components comprising said composition'.

The incorporation of Graphene Plus (G+) in tyres produces the joint effect of simultaneously reducing rolling resistance and increasing grip. The result is a tyre that is both faster in motion and safer in turning under braking or in extreme weather conditions.”


Next Fifteen Communications (LON:NFC) 421p £318.5m

“Next 15, the digital communications group, is pleased to announce a trading update ahead of its results for the year ended 31 Jan 2018, which are due to be announced in early April 2018. Next 15 anticipates that the results will be in line with the Board's expectations and the Board expects the Group to make further good progress in the year ahead.

The Group has seen an improvement in organic revenue growth in the second half of the financial year with organic revenue growth compared with the second half of last year expected to be in the high single digits. This comes off the back of the expansion of existing clients such as Samsung and the addition of Slack and Nike as significant new customers.” FY Jan 18E rev £198.8m, PBT £29.6m.


Diurnal Group (LON:DNL) 176.5p £92.8m

“The specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces a marketing and distribution agreement with Emerge Health Pty Ltd (Emerge Health), a leading, specialised Australian pharmaceutical company focused on the marketing and sales of niche, high quality medicines to the hospital sector. The agreement covers the commercialisation of Diurnal's novel therapies, Alkindi® (hydrocortisone granules in capsules for opening) and Chronocort®­(modified release hydrocortisone), in Australia and New Zealand.” Potential Australian approval in 2020.


MedaPhor Group (LON:MED) 12.25p £11.1m

“The intelligent ultrasound software and simulation company, announces the launch of its new BodyWorks Eve simulator platform, an ultra-realistic manikin-based simulator to train medical professionals practising Point-of-Care Ultrasound (PoCUS) across emergency medicine and critical care.

First revealed at the International Meeting on Simulation in Healthcare (IMSH) in Los Angeles last month and now launched for general sale, the BodyWorks Eve is believed to be the first hi-fidelity female manikin-based simulator for emergency PoCUS training.”




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