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Breakfast News - AIM Breakfast : Best of the Best plc, Clontarf Energy, Coral Products, Flying Brands Ltd, Global Petroleum, Molins, Northern Petroleum Plc, Porta Communications PLC, Sopheon, Scisys Plc, Tribal Group plc

Published: 08:55 08 Jun 2017 BST

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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, 7 June 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 Early June

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

Main Market Premium Listing

ScotGems—Admission due 26 June. Seeking £50-£100m.  To investing in a diversified portfolio of Small Cap Companies listed on global stock markets

DP Eurasia—Intention to float from the  exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. £20m primary raise plus a partial vendor sale.

Film Finances—Sky News reports that ‘movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds.’  Expected ‘during the summer’.

AIB—Intention to float from  AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Prospectus and announcement of the price range due in mid-June 2017.

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

     
 
 
Breakfast buffet

Global Petroleum (LON:GBP) 1.62p £3.29m

GBP has entered into a contract with Seabird Exploration of Norway in order to acquire 834 km of full fold 2D seismic data covering Global's operated block (PEL 0029) in Namibia. The survey has been designed as an infill programme with the aim of providing better delineation of an extremely large, multi-level, dip closed prospect - Gemsbok -which has been mapped in the south eastern portion of the Global acreage. It is expected that the survey will commence towards the end of June/early July and take approximately 2 weeks to complete.

Clontarf Energy (LON:CLON) 0.65p £3.78m

Discussions have taken place in recent days relating to the Tano 2A onshore offshore block in Ghana. These discussions were positive and constructive, and will be continued.

 

David Horgan, Director, commented "The Tano 2A saga has been ongoing for nine years.  There are numerous legacy issues which are being addressed.  Progress is being made.  The newly elected government is pro-development and committed to improved standards. We are committed to helping find and develop Ghana's natural resources.  With continued good-will and common sense we hope that any outstanding issues will be satisfactorily and promptly resolved."

Best of the Best (LON:BOTB) 387.5p £39.23m

Final results from the operator of competitions to win cars both online and at key retail locations .   Revenue up 7.0% to £10.81 million (2016: £10.10 million). Profit before tax increased by 42.7% to £1.51 million (2016: £1.06 million). Earnings per share increased by 41.6% to 13.74p (2016: 9.70p). Online revenue increased by 18.5% to £8.36 million (2016: £7.06 million) - representing 77.5% of total revenue. Special Dividend of 6.5p per ordinary share to be paid to shareholders in June 2017 in addition to the proposed 1.4p ordinary dividend to be paid in September 2017. Currently focussing on multi-channel digital marketing plan. FYApr 18E rev £12.1m and £1.5m PBT. PE c. 32x and yield 0.4%

 

Northern Petroleum (LON:NOP) 3.62p £11.4m

Acquisition of onshore production and development gas assets  in Italy from Rockhopper Mediterranean Limited, a wholly owned subsidiary of Rockhopper Exploration (RKH.L). 100 per cent. interest in the Aglavizza production concession, which contains the producing Civita gas field and associated processing facilities and pipeline. Also includes suspended wells and exploration permit. Civita, which is tied into the national gas network, was commissioned in late 2015 and averaged gas production of 130 boepd during 2016. The field is estimated to contain approximately 1 bcf of recoverable gas according to internal estimates.  Consideration of $1.6m plus assumption of liabilities of c.$3m over 10 years.

Molins (LON:MLIN) 79p £15.94m

Conditional disposal of  its Instrumentation & Tobacco Machinery division ("I&TM") for a gross cash consideration of £30 million on a cash free debt free basis. In line with the Company's strategy, the net proceeds of the Sale will primarily be used to invest in the Group's packaging machinery activities to capitalise on the attractive growth opportunities in their end markets. Price similar to the book value of the net assets, including goodwill, being sold. Will put c.£2.7m into pension fund.  Subject to GM. FY Dec 17E £85m rev and £3.2m PBT. PE c.6x.

Sopheon (LON:SPE) 362.5p £27.02m

AGM Statement from the international provider of software and services that help organisations generate more revenues and profits from new products.

‘Full year revenue visibility for 2017 from contracted business and recurring revenue streams is now at $17.5m, compared to just under $17.0m at this time last year. This includes 20 license orders, up from 14 for the same period last year. This is a different mix compared to this time last year, which included a very substantial order from an existing enterprise tier customer.‘  Improving spread of revenues and blue chip customer base coupled with strong sales pipeline, gives Board confidence in meeting strategic/financial plans for the year. FYDec17E rev £20.8m, PBT £2.3m.  C.15.6x PE. 

SCISCYS (LON:SSY) 105.5p £30.47m

AGM Statement from the supplier of bespoke software systems, IT-based solutions and support services to the Media & Broadcast, Space, Government, Defence and Commercial sectors. SCISYS can report that it has made a promising start to 2017, with particularly encouraging order intake and cash flow. Based on the performance to date, a strong order book and an encouraging pipeline of opportunities for new business, the Directors are confident that full year revenues and profits are comfortably on track to meet current guidance.  Order book at the end of March was 4% ahead of the year end position at £67.1m. Of this figure, £37.8m is deliverable after 2017. FYDec17E £53.4m rev and £3.99m PBT.

Porta Comms (LON:PTCM) 3.9p £12.6m

The international communications and marketing group, has agreed terms with Clydesdale Bank Plc  for a new five year £3.3 million revolving credit facility (RCF). The purpose of the RCF is to replace the Company's existing £3m confidential invoice discounting ("CID") facility in the UK, to provide a working capital facility for the Company and to support the ongoing strategy of recruiting senior practitioners. The RCF will result in an increase of the Company's available credit facilities of up to £2.3m over the existing CID facility where available credit fluctuated between £1m and £1.5m over the last 12 months. The RCF includes a margin of 3.85% over LIBOR which is a reduction of 135bps. No mkt forecasts.

 

Coral Products (LON:CRU) 17.2p £14.3m

Further to trading update dated 27 January 2017, ‘the Board is pleased to announce that the immediate actions taken by management in Q3 to address poor trading performance at the Company's subsidiary, Coral Products Mouldings Limited in November and December 2016 have resulted in a much improved performance in that subsidiary for the remainder of the financial year ended 30 April 2017. Additional significant orders are expected to further improve performance in the current financial year. As stated in the January update, all other Group operations remained on budget and trading profitably and this has continued to be the case through to the year end.’  FYApr17E rev £24.5m, PBT £2m.  

Tribal Group (LON:TRB) 88p £172.5m

Acquisition of Intellectual Property Rights &  distribution rights for the Wambiz private social network solution to the education markets across the UK, Australia and New Zealand and Canada. The acquisition is an important step in Tribal's product strategy, delivering a social network solution that will be integrated into its new student information framework, driving a single engagement solution for students.  The initial consideration for the acquisition is £1.25m, with further non-contingent consideration of £289k and £485k payable at the end of years 1 and 2 respectively. Brings 34 contracts with it although profit on these unclear.  FYDec17E rev £83m and PBT £6.4m.

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