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Breakfast News - Tern, Inspirit Energy, REDX Pharma and more...

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AIM:

Total number of AIM Companies (Incl Susp):

940*

Total number of AIM Companies trading:

887*

*as at close of business  23 April 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

**as at close of business  23 April 2018

NEX Growth Market:

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

86*

Total number of NEX Growth Market Companies trading:

84*               

*as at close of business  23 April 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

No Joiners Today

Off the menu    

Golden Saint Resources has cancelled it quoting on AIM



   
What’s cooking in the IPO kitchen?

AIM

Rosenblatt Group -specialist litigation and contentious restructuring law firm established in 1989 based in the City of London.  Offer TBC.  Due 8 May.

Supreme, a leading manufacturer and supplier of branded consumer batteries, a manufacturer and supplier of branded and licensed consumer lighting and a leading manufacturer and supplier of vaping products in the United Kingdom, is looking to join AIM. Offer TBC, expected early May 2018

KRM22, a closed-ended investment company with a particular focus on risk management in capital markets, is looking to join AIM. Offer tbc, expected 30 April 2018

Serinus Energy -international upstream oil and gas exploration and production company. Its principal assets are located in Romania (development phase) and Tunisia (production phase).  Raising c.£10m. Offer TBA.  Due mid May.

Main Market Premium Listing

Avast, global cybersecurity provider with 435m users worldwide. In 2017, the Group's Adjusted Billings was $811 million, Adjusted Revenue was $780 million, Adjusted Cash EBITDA was $451 million.  Seeking to raise $200m. Due in May.

Fundamentum Supported Housing REIT. Raising £150m. Focussed on UK Social Housing assets. Due 2 May

Vivo Energy—retailer and marketer of Shell-branded fuels and lubricants in Africa, Due in May. 100% secondary sell-down of existing Shares by Selling Shareholders,  No new Money. Pricing TBA

Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects.  Due 03 May.

Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.

  
  
 

Breakfast Buffet

Sareum Hldgs* (LON:SAR) 0.84p £23.1m

“Sareum Holdings, the specialist cancer drug discovery and development business, will present at BioTrinity 2018 in London today, at 12.20pm. Dr Tim Mitchell, CEO of Sareum, will introduce Sareum and provide an overview of its lead programmes including its most advanced programme SRA737, a novel Checkpoint kinase 1 (Chk1) inhibitor licensed to Sierra Oncology (NASDAQ: SRRA).

Presentation details are as follows:

Date: Tuesday 24 April 2018

Time: 12.20

Location: Plenary Hall Two, Novotel London West

BioTrinity is one of Europe's leading biopartnering and investment conferences, and the largest of its type in the UK. The event is attended by global life sciences investors, big pharma executives and emerging R&D companies.”

Immimobile (IMO.L) 280p £173.85m

FY Mar 18 trading update from the cloud communications software and solutions provider.

There was strong trading momentum and organic revenue growth over the year with turnover ahead of market expectations, up over 45%.

Year on year gross profit growth of over 17%.

EBITDA and PAT were in line with market expectations following the anticipated investment in various growth initiatives.

Continued strong cash conversion, over 85%.

Successful earnings enhancing acquisitions of Sumotext in the US and Healthcare Communications in the UK, providing opportunities for the distribution of IMImobile software and services into new markets.

Further progress cross selling of core IMImobile IP to Textlocal, IMImobile South Africa (formally Archer Digital) and IMImobile Intelligent Networks (formerly Infracast) clients.

Ongoing product innovation and development of IP with recent launch of RCS functionality1 on the IMIconnect platform and further development of the IMIbot.ai platform.

FYMar18E rev £108.2m, PBT £9.4m

 

Vitesse Media (LON:VIS) 3.25p £5.59m

“In its announcement of 9 Jan 2018, the Company stated that it expected to generate a small loss for the year ended 31 Mar 2018. However, as a result of a reduced level of higher margin media sales generated, particularly in the final quarter of the financial year, and the continued investment made to strengthen the Company's infrastructure, the Board now expects that the Company will report a loss before exceptionals for the year ended 31 Mar 2018 of approximately £380k (14 months ended 31 Mar 2017: loss before exceptionals of £11.7k). During the year ended 31 March 2018, the Company incurred exceptional costs of approximately £125k (14 months ended 31 March 2017: non-recurring costs of £176k), principally as a result of restructuring and certain professional fees and costs incurred in exploring potential acquisitions, some of which remain active, discussions are ongoing and the Company is in a period of exclusivity. All figures in this announcement remain subject to audit. “ 

The Company has continued to invest further in improving its websites, all of which will be relaunched in the next six months.

 

Cora Gold (LON:CORA) 13.5p £7.4m

The West African focused gold exploration company, provided highly encouraging assay results from the 5,600m aircore ("AC") and reverse circulation ("RC") Stage 2 reconnaissance drilling campaign at its flagship Sanankoro Gold Discovery in southern Mali.

Sanankoro Structure hosts a 3.6km continuous gold zone with depths of ~100m confirmed by results

Exceptionally mineralised intercept of 35.7g/t Au over 1m delivered between Zone A and Zone B

900m gold strike confirmed from initial drilling on the Bokoro Structure

Ground geophysics has been completed across much of the northern part of the Sanankoro Permit, extending the geophysical ground cover from the central area

 

Duke Royalty (LON:DUKE) 41.5p £40.2m

The “provider of alternative capital solutions to a diversified range of profitable and long-established businesses in Europe and abroad, announced that it has entered into a royalty financing agreement of up to £7.5m (with £6.5m drawn down immediately) with Brownhills Investments Limited, the holding company for a UK based group which represents one of the UK's leading independent glass merchants and processors, established in the 1970s.”

Initial cash-on-cash yield of more than 13% per annum via monthly payments immediately post investment .

30 year secured financing - distributions to be adjusted annually to reflect Brownhills' revenue growth.

We could see no forecasts.

 

Tern  (LON:TERN) 14.9p £31.6m

“Tern Plc, the investment company specialising in the Internet of Things ("IoT"), notes today's announcement from Device Authority ("DA"), the IoT security business in which Tern has a 56.8% holding.

DA has announced its support for Microsoft Azure IoT Hub following the recent release of KeyScaler 5.8, a global leader in Identity and Access Management for IoT. Combining these two technologies will allow customers to take advantage of automated enterprise IoT security lifecycle management, as well as KeyScaler's Delegated Security Management model, which provides device provisioning with continued device lifecycle credential management.

Keyscaler is able to provide automated Public Key Infrastructure certificate provisioning from both public and private certificate authorities and integrates with Hardware Security Modules to ensure a robust root of trust and maximum amount of security for key storage.”

We could see no forecasts.

 

Inspirit Energy (LON:INSP) 0.06p £0.82m

“The Company is pleased to announce the appointment of Anthony Samaha (ACA) as a NED with immediate effect. Mr Samaha is also expected to sit on the Company's Audit and Remuneration Committees.

Anthony Samaha is a Chartered Accountant (Australia) who has over 20 years' experience in accounting and corporate finance. Mr Samaha has worked for over 10 years with international accounting firms, including Ernst & Young, principally in corporate finance, gaining significant experience in valuations, IPOs, independent expert reports, and mergers and acquisitions. He has extensive experience in the listing and management of AIM quoted companies, such as Equatorial Palm Oil plc, and Altona Energy Plc and is currently Executive Director of AIM traded Reabold Resources Plc.”

 

REDX Pharma (LON:REDX) 7p £8.66m

The drug discovery and development company focused on cancer and fibrosis, announces that it has appointed Lisa Anson as CEO and to its Board of Directors. Lisa will take up both roles on 1 June 2018. At that time Iain Ross, currently Executive Chairman, will revert to being Non-Executive Chairman.

Lisa Anson, aged 49, has been President of AstraZeneca UK since 2012 and brings significant leadership experience to the role. Over a 20 year career with AstraZeneca, Lisa has held a variety of senior management roles at AstraZeneca in both the US and the UK including Global Vice President Oncology and Vice President of Emerging Brands working closely with the Research and Development teams.

 

Falcon Media  House (LON:FAL) 2.25p £1.52m

The “global digital media group focused on the over-the-top ('OTT') market, provides an update further to the announcement made on 20 March 2018.

Funds remain outstanding from the shareholder identified in that announcement and the Board continues to work with its legal advisers to consider all options and reserve its rights to ensure all monies promised to it are duly received.

However, the Company is pleased to report that it has now raised £325,000 from other investors, from the issue of convertible loan notes pursuant to the Convertible Note Instrument issued on 17 Oct 2017, of which £270,000 has so far been received in cash.  The Board are extremely pleased that existing shareholders, as well as the directors and the executive management team have participated in this fundraise, indicating a strong belief in the prospects of Falcon.

The Board is continuing to pursue further funding opportunities”.

 

Coinsilium (NEX:COIN) 7.65p £9.4m

“The blockchain venture builder, advisor and investor that finances and manages   the development of early-stage blockchain technology companies, is pleased to announce its engagement with Singapore registered MGXP PTE. Ltd ('PLACTAL') to provide advisory services in relation to their Token  
Generation Event ('TGE') for an EOS-powered Decentralised Application   
('Dapp').

PLACTAL (a compound of 'Play Data is Capital') is the first Dapp to be built   on the EOS blockchain by a Korean technology development team, providing a  data-driven decentralised mobile game advertising platform, connecting game companies and gamers in a direct and cost-efficient manner, without the need   
for intermediaries.

PLACTAL aims to challenge the advertising model for the mobile gaming industry which is currently encumbered by multiple intermediaries”.

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