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Breakfast News - Hutchison China Medi, Vipera, Begbies Traynor and more....

Breakfast News - Hutchison China Medi, Vipera, Begbies Traynor and more....

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Total number of AIM Companies (Incl Susp):


Total number of AIM Companies trading:


*as at close of business 5 March 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 5 March 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 5 March 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

Stirling Industries (AIM:STRL) —Acquisition vehicle focusing on industrials.  Raising £8.8m at £1. Mkt Cap £8.9m.

Off the menu   

No Leavers Today


Brunch buffet

Hutchison China Medi (LOM:HCM) 4,875p £3.3bn

Initiation of “a Phase Ib/II proof-of-concept study of epitinib in glioblastoma patients with epidermal growth factor receptor ("EGFR") gene amplification in China. Glioblastoma is a primary brain cancer that harbors high levels of EGFR gene amplification. Epitinib is a potent and highly selective oral EGFR inhibitor that has demonstrated penetration of the blood-brain barrier and encouraging efficacy in clinical studies in other indications. This proof-of-concept study is a multi-centre, single-arm, open-label study to evaluate the efficacy and safety of epitinib as a monotherapy in patients with EGFR gene amplified, histologically confirmed glioblastoma. The primary endpoint is objective response rate.” Also being developed for non-small cell lung cancer patients with activating EGFR mutations that have developed brain metastases. 


Vipera (LON:VIP) 6.37p £20.4m

“The specialist provider of mobile financial services, is pleased to announce that Vipera and Mastercard have collaborated to launch SME Pay, a mobile payment solution that helps small business owners to view, control and manage their income and expenditure, wherever they, or their staff, are. The SME Pay mobile app comes with a dedicated mPos (mobile point of sale) device, which allows small businesses to accept payments from clients, directly onto their Mastercard Business Card.

The SME Pay solution also allows small business owners to control spending by setting multiple conditions on the use of their staffs' Mastercard Business Cards.  The app allows the owner to decide whether staff can make payments in-store, buy online or withdraw cash from ATMs, setting transaction limits, authorised transaction times and provides alerts when one of the business cards is used.”


Begbies Traynor (LON:BEG) 72.9p £78.56m

Acquisition of Springboard Corporate Finance. Springboard are a highly regarded, mid-market corporate finance practice, operating from offices in Birmingham, London and Nottingham. The practice has strong relationships with owner-managers, management teams and private equity firms, acting across a broad range of buy and sell side private company transactions. The business has delivered excellent growth in recent years and in 2017 completed 17 transactions with a total value in excess of £225m. In its financial year ended 30 June 2017, Springboard posted annual revenue of £2.3m and pre-tax profits of £0.75m when reported on the same basis as the Group. Up front consideration of £2.75m in cash and shares, contingent of £0.5m and up to £1.25m relating to cash acquired with the business. FYApr18E rev £51.86m and £5.58m PBT, yield c.3.2%.


Ubisense Group (LON:UBI) 35.5p £25.95m

The specialist “in enterprise location intelligence solutions, today announces that it has entered into agreements for the re-organisation of its business in Japan, including the sale of its Japanese third party geospatial services business. Pursuant to the transaction, effective on 30 March 2018, it will carve-out the Japanese geospatial services business into a separate entity, which it has agreed to sell to a subsidiary of FinTech Global Incorporated of Japan for a gross consideration of JPY 100m (approximately £0.7m). Alongside this transaction, Ubisense has agreed, subject to contract completion, to acquire the 23% minority interest in its Japanese operating company. The acquisition of this minority interest will give the group 100% ownership of its remaining Japanese operations.” We could  see no forecasts.


Baron Oil (LON:BOIL) 0.47p £6.4m

Farmout Agreement with Corallian Energy Limited under which it will earn a 5% working interest in UK Continental Shelf Licence P1918, which contains the Colter Prospect, on which a well is planned to be drilled this year. {Total payable estimated at £425k}

The Colter Prospect lies in Bournemouth Bay, immediately southeast of the Wytch Farm oilfield which has been developed from onshore facilities.  Mapping of 3D seismic data by Corallian indicates that the 98/11-3 well, which encountered oil in the Triassic Sherwood sandstone reservoir in 1986, lies on the flank of a structure that has the potential to hold unrisked P50 Prospective Resources of 26.8 million barrels of oil recoverable from this reservoir. The Colter Prospect will be appraised by a well drilled to a total depth of 1800 metres subsea in a water depth of 16 metres.  The well is currently planned to be drilled in the second or third quarter of 2018, subject to regulatory approvals, at a total cost of some £6.4m.


CAP-XX (LON:CPX) 9.96p £29.72m

HYDec17 results from the specialist in  the design and manufacture of thin, flat supercapacitors and energy management systems.

Product Sales revenue of A$1.5m (2016: A$1.3m) up 9%

Royalty revenue of A$0.42m (2016: A$0.29m) up 43% against the corresponding prior year period. Year on year, Murata royalty was up over 145% due to increased volumes across the product range

Improved EBITDA loss of A$1.7m (2016: loss A$1.9m)

Licencing negotiations continue with numerous parties. While there have been delays in finalizing these agreements, the Board remains optimistic that the most advanced of these will be concluded in the next six months

Sales pipeline for prismatic supercapacitors, including cylindrical cans remains at high levels.

Cash reserves at the end of Dec 2017 were A$1.5m(2016: A$0.6m). The cash reserves at the end of Dec 2017 exclude the R&D Tax rebate of A$1.6m which was received in early Febr 2018. FY Jun 18E rev A$2.96m and $0.47m pre tax loss.


Osirium Technologies (LON:OSI) 141p £14.66m

The UK headquartered cyber-security SaaS provider, announced a conditional placing to raise approximately £4.2m at a price  of 134p per Placing Share. 5% discount to yesterday’s closing mid price.

Use of proceeds includes

Scale the Group's business in the multi-billion dollar market for privileged access management (PAM) which is considered predominately greenfield and growing more than 25% p.a.;

Invest further in its sales, marketing, and product development;

Double the size of its engineering and R&D teams in 2018

FYDec18E rev £0.95m and £2.06m pre-tax loss.


Mpac Group Formerly Molins (LON:MPAC) 180.08p £36.3m

FYDec17 results from the global packaging solutions group. “Excellent progress on the Group's strategic initiatives”.

Increase in order intake from continuing operations of 21% and order book 35% higher than at the start of 2017

Sales from continuing activities of £53.4m (2016: £41.5m)

Underlying PBT of £1.1m (2­016: £1.5m loss

Statutory PBT from continuing activities of £4.3m (2016: £3.1m loss)

Net cash of £29.4m (201­6: £0.8m)   

No Div.

“The Company entered 2018 with a stronger order book than a year before, and with a greater focus, progress continues in the development of the continuing operations, and with order intake and sales both strongly ahead of last year the Group's future prospects remain positive.”

FYDec18E rev £51.5m and PBT £2.58m.


ProPhotonix (LON:PPIX) 9.25p £6.36m

The high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, today announces the appointment of Edward Dolan as the Company's CFO (non-Board) with immediate effect.  

Edward ("Ed") has joined the Company from AC Lordi, a private equity backed professional services firm, and has previously held positions at Nypro (a Jabil company), Yankee Candle Corporation - where he acted as Director of Accounting with responsibility for all activities of the accounting group - and 3COM Corporation, where Ed managed the corporate accounting group. Ed is a certified public accountant (CPA) and worked for Price Waterhouse Coopers, LLP earlier in his career.

FY Dec18E rev $20.1m and PBT $1.5m.



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