Proactive Investors - Run By Investors For Investors

Breakfast News - AIM Breakfast : Atlantis Resources Ltd, CareTech Holdings, InnovaDerma, Touchstone Innovations Plc, Microsaic Systems plc, MTI Wireless, Premier Technical Group, Sareum Holdings Plc, Integumen

Breakfast News - AIM Breakfast : Atlantis Resources Ltd, CareTech Holdings, InnovaDerma, Touchstone Innovations Plc, Microsaic Systems plc, MTI Wireless, Premier Technical Group, Sareum Holdings Plc, Integumen

What’s cooking in the IPO kitchen?


FFI Holdings— specialist in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product. Offer TBA. Expected 30 June.

QUIZ— omni-channel fast fashion womenswear Company intention to float. Due July 2017.  Offer TBA

Ethernity Networks—Schedule 1 from Israeli based specialist in data processing technology used in high end carrier ethernet applications across the telecom, mobile, security and data centre markets . Expected late June. Offer TBA.

Jangada Mines—Schedule 1  advanced stage PGM exploration project containing what the Directors understand to be the largest PGM resource, as well as being the only pre-development PGM project, in South America.  Offer TBA. Expected late June.

Phoenix Global Mining— US Brown field copper play. Expected late June. Offer TBA

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 late June

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

Main Market Standard Listing

Rockpool Acquisitions—Northern Ireland based Company seeking  strong NI acquisition with an international outlook. Raising £1.5m at 10p. DU3 5 July.

Main Market Premium Listing

Residential Secure  Income -  social housing REIT  raising up to £300m Admission due c.12 July.

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.

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. Valuation range €10.6-€13.3bn. Admission end June.

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.

Kuwait Energy— $150m raise plus vendor offer. Admission due June.  2p reserves 810.0 mmboe 

Brunch buffet

InnovaDerma* (LON:IDP) 397.5p £49.6m

FYJun17  trading update. Revenues are expected to increase by 80% on a constant currency basis to approximately £9 million. Revenues have been bolstered by the exceptional performance of Skinny Tan through the Company's fast-expanding Direct to Consumer platform and retail channels, with the brand achieving the highest-monthly revenues for four months in the second half of financial year 2017.  Underlying profit before tax is expected to increase by 355% to approximately £1.28 million. Skinny Tan Pro being partnered with  the London School of Beauty & Make-up.  launched a skin brightening and anti-ageing product portfolio in Korea which has receive Korean Food & Drug Administration approval. Global market c.$20bn. FYJun18E rev £14.1m, PBT £2.56m.

Integumen (LON:SKIN) 3.13p £5.18m

The personal health care company developing and commercialising technology and products for the human integumentary system, is pleased to announce it has received orders from La Prairie, Merck & Co., and Galderma S.A  for its  3D human skin equivalent Labskin. "We are delighted to receive these orders from such reputable blue chip clients. With an ever-increasing focus on the human microbiome, Labskin's advantage of being able to host bacteria in a similar environment to that of human skin is proving to be an attractive option for companies focussed on R&D in skincare. While relatively small in revenue terms, these orders not only demonstrate our ability to commercialise our products and technologies which is what we promised to do at IPO, but also our ability to build relationships with established companies”.

Touchstone Innovations (LON:IVO) 284.25p £458.2m

New £3.0 million, two-tranche investment into Concirrus, a leading insurance IoT (internet-of-things) solution provider based in London. Following this new investment, Innovations will hold a 66.9% stake in the issued share capital of the company.

Concirrus was founded in 2012 by Andrew Yeoman (CEO) and Craig Hollingworth (Corporate Development) who came directly out of the telematics and communications industries. Andrew (formerly with Trimble Navigation) and Craig (formerly with Orange, O2 and Masternaut), identified an opportunity to launch a company providing fully integrated business solutions built on a scalable cloud-based platform.

Microsaic Systems (LON:MSYS) 2.1p £3.7m

HY Jun 17 from the developer of chip-based mass spectrometry  instruments designed to improve the efficiency of pharmaceutical R&D. Trading conditions in the first six months of 2017  in these markets have continued to be difficult and the Company now expects its H1 and full year 2017 revenue to be significantly lower than for 2016.  “The projected short fall in revenue for H1 and full year 2017 is expected to be off-set by lower overheads as a result of cost reduction plans implemented in H1. The full year loss before tax is expected to be broadly in line with 2016.” Strategy now focusing on the application of its unique miniaturised, point-of-analysis MS instrument (the 4000 MiD®) in high-value processes where cost of failure for pharmaceutical companies in particular is high and where regulation is demanding change.

CareTech Holdings (LON:CTH) 437p £330.12m

HYMar17 results. Revenue increased by 11.3% to £78.8m. Underlying EBITDA  increased by 8.3% to £18.3m. Interim divi increased by 10% to 3.30p. NAV +38.5% to £195.2m. “With a strengthened management team and having undertaken the share placement and with improved banking facilities in place, the Group has a number of consolidation opportunities and property projects which are currently being progressed.  The Board believes that this will lead to a growth in capacity and revenues which will generate additional EBITDA and cash to continue organic and infrastructure improvements so the Group can achieve its target of double digit growth annually in underlying diluted EPS.  FYSep17E rev £166.1m, PBT £29.1m.

Sareum Holdings* (LON:SAR) 0.9p £23.8m

Dr Tim Mitchell, CEO of Sareum Holdings will deliver a presentation at the 6th annual International Cancer Cluster Showcase, being held today at the San Diego Convention Center. Dr Mitchell will be showcasing Sareum and its cancer research pipeline as one of three companies from the UK "Golden Triangle" biotechnology cluster. Companies from nine North American and European innovation hubs are scheduled to present at the event, which is organised as a satellite to the BIO International Convention, the world's largest gathering for the global biotech industry. Over 200 representatives from the international oncology community are expected to participate in this focused network meeting.

Atlantis Resources (LON:ARL) 42p £52.9m

The specialist in the tidal power sector,  is in negotiation with the Duchy of Lancaster as its preferred developer for the proposed Wyre Valley tidal barrage and flood protection project. The Project would be chiefly situated on the Duchy estate between Fleetwood and Knott End on the Lancashire coast. Atlantis and the Duchy will now enter into a period of negotiation to reach agreement regarding an option for a long-term lease for the proposed site to permit the development of a tidal power scheme with a proposed installed capacity of 160 MW. It is currently predicted that the Project will be capable of producing almost 300 GWh of sustainable energy each year, coupled with flood protection capabilities. Permitting process c. 3 years.

Premier Technical (LON:PTSG) 123.5p £113.02m

AGM Statement from the  niche specialist services provider. "I am pleased to report that the Group has seen continuing sales growth and strong levels of orders in the year to date. Working capital utilisation and profit levels are also in line with the Board's expectations. The Group has secured new contract wins across all its disciplines, including a number of multi-discipline framework agreements with new and existing customers and our contract renewal rates remain high, which underpin our organic growth plans.” “The Board is confident that the business is in a strong position to continue to grow both organically and through carefully selected acquisitions, which seek to achieve sector dominance in our chosen areas of operation.” PE c.15x.

MTI Wireless Edge (LON:MWE) 25.75p £13.48m

The specialist in  flat panel antennas for fixed wireless broadband and a wireless irrigation solutions provider, announces that its wholly owned subsidiary Mottech Water Solutions has agreed to establish a joint venture company with Omega Technologies LTD which is an existing third-party sales representative for Mottech's water irrigation solutions in China.  As announced previously, over the last year, MTI has won several contracts for irrigation management solutions in China.  MTI believes that there is strong demand from China for sophisticated and efficient irrigation solutions, for both  agricultural & landscape sectors.  We could see no forecasts.

Mineral & Financial (LON:MAFL) 16.75p £5.8m

Investment Update—Lagoa Salgada Exploration Program strikes 88.0m of 11.85% Zinc Equiv.   LS MS-01 drill hole is the first hole of LS-1 resource expansion program

-   LS-1 Exploration program to expand resource from 4.5Mt to 8.0Mt-10Mt on track

-   Substantial gold-rich zones, including 2m at 30 g/t gold and 16m at 3.3 g/t gold

-   LS ST-03 strikes 11 distinct semi-massive to massive sulphide intervals in conjunction with very high levels of sericitic alteration

-   16 other anomalies still to be fully explored

This document, which does not constitute research, has been issued by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.

Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, directors, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the UK, this document is directed at and is for distribution only to persons who (i) fall within Article 19(5) (persons who have professional experience in matters relating to investments) or Article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of UK or US securities law, or the law of any such other jurisdictions.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, directors, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior consent of Hybridan LLP.

Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use