Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Breakfast News - Cradle Arc, Volex, OnTheMarket and more...

Breakfast News - Cradle Arc, Volex, OnTheMarket and more...

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

Cradle Arc—holding company of a group of companies focused on the exploration and development of precious and base metals projects in Africa. Offer raising £2.4m with market cap of £20.25m. Expected 10 Jan 2018

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 Premium Listing

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.

Vivo Energy—The Africa-focused company, which operates around 1,800 Shell forecourts across 16 countries  reported by City A.M. to be preparing for a London float next year

 
Breakfast buffet

Plus500 (LON:PLUS) 1,030p £1,017m

Plus500, an online service provider for retail customers to trade CFDs internationally, announced that the strong momentum in both trading and attracting new customers continued through to the year end. Record quarterly revenues were achieved in the final quarter of 2017 and approximately 246,000 new customers joined during the year (FY 2016: 104,432), which is another record for Plus500.

Accordingly, the Board anticipates revenues and profits for the year ended 31 Dec 2017 will be ahead of market expectations.

Plus500 has experienced strong volumes in crypto currency CFDs and has seen increased interest throughout the year in a category which we introduced in 2013. The Company’s broad offering enables customers to participate in the volatility of multiple crypto currencies, without owning the underlying asset. Plus500 remains focused on risk management which includes setting appropriate risk and leverage for all the instruments traded on its platform

The Company expects to report its preliminary results for the financial year ended 31 Dec 2017 before the end of Feb 2018.

 

WANdisco (LON:WAND) 595p £243m

WANdisco, the live data company, announced a record contract win with one of the world’s leading financial institutions to deploy the Company’s patented live data platform, WANdisco Fusion, rebranded as IBM Big Replicate, directly to the Client. The agreement, which is the second multi-million dollar contract in the financial services sector secured by WANdisco during 2017, will be delivered through the Company’s IBM OEM partnership and is valued at $4.32m in royalties to be paid to WANdisco.

WANdisco Fusion was selected after an extensive period of testing by the Client and was deemed to be the only enterprise-grade solution able to support critical Cloud and Big Data applications. Fusion will be used to enable the Client to move critical live data seamlessly between both primary and disaster recovery sites and the Cloud whilst ensuring the data is always available.

The Company continues to demonstrate that WANdisco Fusion is the only solution that can enable organisations to seamlessly move large volumes of live data with consistent and continuous availability whilst meeting regulatory requirements. WANdisco’s patented technology ensures our customers are able to multiply the impact of their IT investment to support exponential data growth without growing the IT budget.

 

Big Sofa (LON:BST) 13.75p £8.55m

Big Sofa, a fast-growing international video analytics provider to consumer brands and market research agencies, announced two significant contract wins with Target Corporation, a US retailer, and Zurich North America, the US company of the global insurance group.

Both customers have retained Big Sofa on a monthly subscription model, with initial terms of six and twelve months respectively (beginning 1 Jan 2018). The board anticipates that these subscriptions will lead to material revenue contributions during 2018.

Importantly, an element of Big Sofa’s strategy is to convert key client relationships into long-term, recurring revenue generating customers. As such, the board believes these subscription-based contract wins are further evidence of the validation of this strategy.

Target will leverage Big Sofa’s technology and expertise on a continuous basis to analyse existing and new video content to generate detailed insight into in-store consumer behaviour and preference. Zurich will build on its Big Sofa subscription to data-mine and analyse both existing and new customer video content to facilitate Zurich’s drive to put customers at the heart of its business strategy.

 

Pantheon Resources (LON:PANR) 52.5p £123m

Pantheon Resources, the oil and gas exploration company with a working interest in several conventional project areas in Tyler and Polk Counties, onshore East Texas,  provides the following operational update:

Pantheon announced that the Unit Petroleum Rig #319 rig has spudded the VOBM#5 well, onshore Polk County, in which Pantheon has a 75% working interest. The VOBM#5 well is a step out development well from the VOBM#1 well and will be drilled vertically to a depth of circa 14,500 feet, targeting the Eagle Ford/ Woodbine sandstone formation.

Gas production volumes from the Polk County gas processing facility are currently averaging circa 3,000 mcf/d. In line with initial testing, the VOBM#3 well has experienced variability in production volumes which is believed to result from the well being located towards the edge of the reservoir as previously announced. Analysis is currently underway and it is probable that the operator will perform an intervention, such as acidization, in order to increase flow rates further.

Three separate hydrocarbon bearing Wilcox zones were encountered during drilling, analogous to key wells in the Tyler and Hardin Counties' Jazz field. It is intended that each of these zones will be isolated and, if warranted, tested individually.

 

Corero Network Security (LON:CNS) 6.75p £21.3m

Corero Network Security, the network security company, announced that its SmartWall® Threat Defense System 100Gbps technology has been selected by two North American customers, a service provider and a hosting provider, to deliver real-time DDoS protection to their respective end-customers.

The combined customer orders are worth in excess of $0.4m for SmartWall products and related one-year support services.

Earlier this year, Corero launched its Intel®-based 100Gbps appliance, following a two year development investment led by its Edinburgh software development team. The 100Gbps product (the SmartWall NTD1100) extends Corero's real-time DDoS mitigation leadership position by delivering line-rate protection at 100Gbps. The SmartWall NTD1100 complements Corero's 10Gbps product (the SmartWall NTD120). All SmartWall products share a common management and data analytics platform ensuring efficient management and consistent protection across a customer's network.

 

Applied Graphene (LON:AGM) 47.5p £23.5m

Applied Graphene Materials, the producer of specialty graphene materials, will make the following statement at the AGM:

"The Board remains pleased with the progress that the Group is making towards the commercialisation of its products and proprietary technologies; funding customer collaborations and joint development activity as well as continuing to target further production orders. Following on from our initial production orders the business secured additional production orders in 2017. Whilst the magnitude of these orders is not large, they represent important milestones in the development of the Company.

The number of active engagements increased significantly in the year and currently stands at around 100. Targeting further additional production orders remains the greatest ongoing priority for the Group, as we focus on converting these additional opportunities into production orders.  Following the equity raise in October 2017, the Group is well funded as it seeks to capitalise on these opportunities"

 

BNN Technology (LON:BNN) SUSPENDED

BNN Technology , a technology, content and services company announced that it is continuing its discussions with Mr Darren Mercer relating to the repayment of the outstanding loan of circa £0.45m due to the Company by him. £0.27m of the Loan has now been offset by a bonus owed to Mr Mercer which was agreed by the Company in June 2016 and which had not been paid to date.

The board of directors of the Company became aware of the agreement to pay Mr Mercer the Bonus in Q2 2017 and it is acknowledged that the Company failed to account for this sum in its annual report for the year ended 31 Dec 2016, or any subsequent disclosure and the Board is undertaking to investigate this error.

The Company has recently been presented with information which Mr Mercer believes could reduce the amount of the remainder of the Loan. This is now under review and a revised balance of the Loan, together with a revised repayment schedule is expected to be agreed with Mr Mercer shortly.

Additionally, further amounts which were not included in the Loan are also being investigated by the Board, in light of the findings of the PwC Report.

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 2018

Proactive Investors 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