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This week: Atlantic goes to China, US Bureau extends SPA, IVO on a mission, IPO boost for IPO, EC approval for PLE

This week: Atlantic goes to China, US Bureau extends SPA, IVO on a mission, IPO boost for IPO, EC approval for PLE

Stock markets continue to trade sideways in a narrow range reflecting the anxiety ahead of the Federal Reserve’s release of October FOMC minutes. A series of speaker events prior to the Fed release is also adding to nervousness as investors look for signs of the tapering timeline, despite dovish comments from the next nominated chairman recently. The FTSE100 has lost 20 points in the past week to reach 6,695 while the AIM All-share index is unchanged at 812.  Positive momentum from China's economic reforms has also faded, with investors digesting the potential aftermath of change. The economic calendar is busy but many eyes will be on US jobless claims on Thursday as investors try to estimate the strength of economic recovery and the impact this may have on monetary policies. We are less anxious. Higher interest rates will be bad news for weak companies but will divert capital to more innovative and productive companies. 

SPA 1Spatial announce contract extension,ALO gold discovery  at Kossanto Gold Project,ATC/CICC joint venture and coal sale agreement,CNEL contracts to build ethanol plants in Hungary,CML interims,CGNR final results,CRA receives BP follow-on order,EGS contract through Aspect partnership,GWP Orphan Status,IVO MISSION Therapeutics receives £20m,IPO Applied Graphene IPO and raises £11m,ITM MoU with NRM,LMT US product launch,MIRL Q3 results,NCCL  coal resource upgrade,NETD partnership,NFC appointment of interim CFO,NMG exploration update,NCT oil production rises at Oklahoma well,PLE European Commission approval,SCLP extension to Ichor option,SPHR Proxima discussions,SULA field work,SNTY grant of US telecoms licence,TRCS North American pilot,UBI contract extension & trading update,ULT Screenetics secures new contracts

1Spatial (LON:SPA) 

1Spatial, the Spatial big data Company which manages some of the world's largest spatial data, and its US partner, LSI, announced a contract extension with the U.S. Census Bureau. Of the total contract amount approximately US$1m will be payable to 1Spatial and recognisable during the financial years    2014 and 2015.  Following the initial contract to supply 1Validate & 1Integrate licenses, the extension will focus on the provision of services in preparation for the 2020 Decennial Census and to widen the use of the technology within the organisation.  Through a long-term engagement with the U.S. Census Bureau, 1Spatial and LSI have prototyped and designed a solution which provides a phased roll-out for 1Spatial's Validate & Integrate software.  This approach allows the Census team to gain valuable interactive operational experience and work out efficiencies as the system develops.  The Census itself involves a large, complex and mission-critical spatial database, which is growing at 10-15 per cent annually.  1Spatial with LSI is building an agile and service orientated architecture reducing storage requirements. This technology is vital to ensuring the user community have spatial and temporal accuracy and quality, and meet stringent processing deadlines. 

Alecto Minerals (LON:ALO)

Alecto Minerals, the mining exploration company focussed on West and East Africa, announced an update on the Company's exploration activities at its 207 sq km Kossanto Gold Project in the Kenieba Inlier in western Mali.   A high grade gold area was discovered within the southern section of the Massakama prospect - one of three identified prospect areas at Kossanto. A significant rise in artisanal activity and workings at the new area highlights the high grade nature and potential extent of the new mineralised system.  Artisanals have identified hard rock/quartz vein occurrences beyond the originally targeted alluvial and colluvial material.  During a recent field visit, Alecto geologists repeatedly observed coarse and fine grained gold recovered from high grade quartz vein material.  Previous exploration work on the licence close to the new discovery has already produced drill intercepts up to 8m @ 18.5 g/t.  Channel sampling across the area of artisanal workings at Massakama has already been completed by Alecto to depths of up to 8m; based upon observations of the artisanal activities positive results from 37 samples are expected to be received by the calendar year end.  Information from Alecto sampling will be used to generate a RAB drilling programme at Massakama in Q1 2014.  A resource drilling programme is due to commence in December 2013 at the Gourbassi East and West Prospects at Kossanto the focus being to increase current resource of 107,000 ounces of gold.

Atlantic Coal (LON:ATC)  & CIC Capital Ltd. (LON:CICC)

Atlantic Coal, the anthracite coal mining company operating in Pennsylvania, USA, announced that it has entered into a joint venture and coal sale agreement with China based CIC Brancepeth Coal Limited, a company founded and currently managed by AIM listed CIC Capital Ltd. Under the joint venture agreement Atlantic Coal will provide coal mining and processing expertise to CIC-Coal and, in return, CIC-Coal will purchase coal mined and/or processed by Atlantic Coal. The joint venture agreement runs for an initial three year period following which it may be extended by mutual agreement. Atlantic Coal's Managing Director, Steve Best, said: "I am delighted to establish this relationship between Atlantic Coal and CIC-Coal with these joint venture and coal sales agreements. CIC-Coal and CIC Capital bring over 22 years of experience in the Chinese coal market which will not only facilitate the marketing of our premium anthracite to what is the world's largest user of anthracite but also provide the essential local contacts to ensure effective transport and distribution to end users primarily in the iron and steel industry. Our expansion plans in Pennsylvania are, in part, dependent on developing export markets and we see China as being one of the main targets with anthracite imports already having risen over 11 per cent in the first five months of this year. " 

China New Energy (LON:CNEL)

China New Energy, the engineering and technology solutions provider to the bioenergy sector, announced that it has won contracts with Visontai Bioetanol Fejlesztő Korlátolt Felelősségű Társaság (Visontai) and Helvéciai Biouzemanyag Termelö es Kereskedo Kft. (Helvéciai) to develop two biorefinery projects in Hungary.  The combined value of the contracts to CNE are €72m (approx. £60m) over a four year period. As part of the tendering process, CNE has already completed the design for both the projects. The first project is expected to complete within two years, entering full commercial production in 2016. The progress of construction will be subject to Viscontai and Helvécia completing their fundraising milestones.  The first project for Visontai will convert corn feedstock into 150,000 litres per day of ethanol. The second project for Helvéciai will convert corn feedstock into 300,000 litres per day of ethanol. CNE will supply its proprietary pre-treatment, fermentation, distillation and dehydration technology to the project and the local project partners will complete the civil engineering and construction of the biorefineries. Visontai and Helvéciai will operate the biorefineries and CNE will provide long-term training, support and maintenance.

CML Microsystems (LON:CML

CML Microsystems, which designs, manufactures and markets a broad range of semiconductor products, primarily for the global communication and data storage markets,  announced record results for the six months ended September 2013. Group revenues rose by 5 per cent to £13m, while gross profits jumped 7 per cent to £9.2m. This translated to a 38 percent increase in diluted EPS to 15.4p. Net cash rose to £9.7m (2012: £6.5m). Operationally, storage revenues were up around 7 per cent as customers transitioned to higher-performance flash memory controller products. Wireless semiconductor revenues grew by around 10 per cent due to robust professional and commercial wireless communication markets.

Conroy Gold and Natural Resources  (LON:CGNR)*

Conroy, the Irish based resource Company exploring and developing gold and other projects in Ireland, announced its results for the year ended 31 May 2013. Conroy has under licence the entire 30 mile gold trend which it has discovered in the Longford-Down Massif in Ireland and is working towards opening a gold mine at Clontibret.   In-house studies show gold potential of 15-20 million ounces along the trend.  Technical and financial viability has been confirmed for the Clontibret gold mine, with a resource evaluation of over 600oz both indicated and inferred.  The economic evaluation was based on 20 per cent. of the Clontibret target area, with a payback period of two years.  The mining method, BIOX® is a well established bacterial oxidation technique which was recommended by Tetra Tech as an appropriate technology for treating the gold sulphide concentrate at Clontibret.  The mineralogical and metallurgical test work was supervised and managed by Tetra Tech, showing an IRR of 49.4 per cent NPV(8) $72.3m USD.  Test work undertaken by Goldfields Limited included grinding, crushing and other factors in relation to mill design.  The results indicate an 8 per cent sulphur grade in concentrate whereas in the scoping study a grade of 12 per cent had been assumed. The lower sulphur grade in the concentrate is highly advantageous as it will reduce capital and process operating costs.  A ground geophysical programme was carried out at The Clay Lake gold target by Golder Associates on behalf of the Company. The programme comprised Induced Polarisation (IP) and Resistivity totalling 960 line metres in four survey lines over the Northern area of the target.  Further new gold targets along the thirty mile trend discovered by the company have been identified by an independent review of airborne geophysics by BRG (Geotechnics) Limited.  Evaluation of old lead workings within Conroy’s licence area has yielded highly positive zinc results of up to 30 per cent. These samples also had elevated copper, silver, antimony, mercury, gallium and cadmium.  During the year £573,183 of new equity was raised and subsequent to the year end a further £1,000,000 was raised.  Mr Séamus FitzPatrick, previously a Non-Executive director of the Company, assumed the position of Deputy Chairman in February 2013. 

Corac Group (LON:CRA)

Corac Group announced that its subsidiary Corac Energy Technologies (CET) has received a further order from BP Trinidad & Tobago LLC (BPTT) to complete the design and engineering phase of the project to develop a compact gas compressor for deployment on an offshore production platform. This order, worth approximately $1.4m, was placed under the Master Services Agreement announced 8 July 2013, and brings the total value secured on this project to date to $2m. On concluding this phase in early 2014, CET expects to progress to system build and testing which will be covered by further orders. Corac Group Chief Executive Phil Cartmell commented: "We are very pleased to have received this order to conclude the design activity, continuing this exciting partnership with BP. The prospects for platform compression are very attractive, and progress so far in this area is most encouraging." 

eg solutions (LON:EGS)

eg solutions announced that it has won an initial contract from a leading global financial institution for the eg operational intelligence(R) software and related services. The contract is the first won through eg's strategic partnership with Aspect Software Inc. This initial contract is for an existing Aspect customer covering 750 users in the Asia Pacific region with the potential to roll-out across the global back office functions thereafter. Revenue from this contract will be recognised in this financial year. John O'Connell, Chairman & Chief Executive commented: "Since launch to their sales team in May 2013 Aspect have built a substantial pipeline of opportunities for the eg operational intelligence(R) software across North America, EMEA and Asia Pacific. The indications are that this will be a strong and lucrative partnership for both eg and Aspect." 

GW Pharmaceuticals (LON:GWP)

GW Pharmaceuticals announced that the U.S. FDA has granted orphan drug designation for Epidiolex(R), a product candidate that contains plant-derived Cannabidiol (CBD) as its active ingredient, for use in treating children with Dravet syndrome, a rare and severe form of infantile-onset, genetic, drug-resistant epilepsy syndrome. Epidiolex is an oral liquid formulation of a highly purified extract of CBD, a non-psychoactive molecule from the cannabis plant. Following receipt of this orphan designation, GW anticipates holding a pre-IND meeting with the FDA in the near future to discuss a development plan for Epidiolex in Dravet syndrome.

Imperial Innovations Group (LON:IVO)

Imperial Innovations Group, a technology commercialisation and investment group, has increased its support for MISSION Therapeutics by committing £4.5m of a £20m funding round. Innovations had previously participated in a £6m round for MISSION in August 2011. MISSION is a biotechnology company developing drugs that target a cell's response to DNA damage. Imperial Innovations is joined in the round by new investor Pfizer Venture Investments and other existing investors Sofinnova Partners, SR One and Roche Venture Fund. The financing round will enable MISSION to advance its lead programmes for the treatment of various genetically defined cancers, through preclinical development and to exploit further the potential of its novel technology platform.  

IP Group (LON:IPO)

Portfolio Company Applied Graphene Materials (155p / £26.2m) announced a placing to raise gross proceeds of £11m and that the admission of its entire issued share capital will begin to trade on the AIM market of the London Stock Exchange and commencement of dealings in its shares is expected to take place on 20 November 2013. Applied Graphene Materials, a spin-out from Durham University which has developed a proprietary process for the manufacture of high purity graphene nanoplatelets, has placed shares at a price of 155 pence per share to raise gross proceeds of £11m. Based on the placing price, the market capitalisation of Applied Graphene Materials on admission will be approximately £26.2m. 


ITM Power, the energy storage and clean fuel company, announced that it has signed a Memorandum of Understanding with NRM Netzdienste Rhein-Main GmbH (NRM), a 90 per cent subsidiary of Mainova Aktiengesellschaft GmbH (Mainova).  Under the MOU, the Companies will jointly identify and quote for PEM Electrolysis Power-to-Gas projects in Germany and internationally. NRM will have exclusivity to deploy ITM Power plant in their home state of Hessen in Germany and will be the Company's preferred partner for projects in other German states and internationally. The MOU covers both the direct injection of hydrogen gas into mains gas grids and methanation projects.  ITM Power has deployed its PEM Electrolysis Power-to-Gas (P2G) plant at the Mainova Aktiengesellschaft site in Schielestrasse, Frankfurt am Main where the compliant gas mixing and grid injection infrastructure designed and built by NRM is already in place. The plant, which was jointly commissioned by 13 partners within the Thüga Group to investigate P2G-Technology, is now on-site and is undergoing an extensive acceptance, compliance and commissioning phase before live commissioning in December.  This plant is part of the Thüga Group's P2G project as previously reported. Both ITM and NRM are building this plant with the Thüga project consortium, of which ITM and NRM's parent Mainova are both partners. The install also includes a monitoring facility and visitor's reception so that members of the Thüga Group can examine the performance of the plant.

Lombard Medical Technologies (LON:LMT)

Lombard announced a stand-alone symposium and program of presentations to mark the formal US launch of Aorfix(TM), the Company's flexible stent graft, at the 40th Annual VEITH Symposium, November 19-23, New York City. CEO of Lombard Medical Technologies, Simon Hubbert, commented: "Published clinical data suggest that up to 30% of patients present with tortuous AAA anatomy. US physicians now have access to Aorfix, a highly effective, FDA approved treatment option for such cases. VEITH Symposium is one of the most important annual gatherings of vascular surgeons from around the world and the ideal venue to formally launch Aorfix in the US." 


Minera IRL, the Latin America gold mining company, has reported unaudited third quarter results for the three months ended September 2013. Gold sales of 6,427 ounces were down 15 per cent year-on-year at an average realised gold price of $1,323 per ounce (Q3 2012: $1,667 per ounce). As a result, revenues of $8.5m were down 32 per cent while gross profit fell sharply by 71 per cent to $1.7m. Cash balances fell to $1.3m at the end of the quarter (Q2 2013: $4.9m) and subsequent to 30 September 2013, the company drew down the first $5m of the additional $10m available on the debt facility with Macquarie Bank and issued the corresponding 0.5 per cent royalty on Ollachea.  

Ncondezi Energy (LON:NCCL)

Ncondezi Energy announced a coal resource classification upgrade at the 300MW integrated thermal coal mine and power plant project, located near Tete in northern Mozambique.  A Measured Resource of 120m mineable tonnage in situ has been classified by the Company's geological consultant, the Mineral Corporation Consultancy (Pty) Ltd, in the South Block in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves .  This follows the completion of an infill drilling programme completed in September 2013 which included the drilling of an additional 33 HQ3 cored boreholes and three large diameter boreholes. The drilling was focused over the planned open pit mining area within the South Block that was identified as the most economical to supply coal to the power plant.  In order to provide a bankable Coal Sales Agreement to the power plant, the mine needed to demonstrate sufficient coal resources in the Measured Category to supply the 300MW power plant for 25 years plus a 40 per cent contingency, equivalent to 70m mineable tonnes in situ. The upgraded resource has exceeded this target with sufficient additional Measured Resource to theoretically supply an additional 300MW (600MW total) power plant for 25 years. 

NetDimensions (LON:NETD

NetDimensions, the global provider of performance, knowledge, and learning management systems, announced that it has been selected by Royal Caribbean Cruises Ltd. to create online learning modules for new shipboard software being rolled out to 35 cruise ships within its fleet. NetDimensions Interactive, a business unit of NetDimensions that focuses on custom content and application development services, will provide online, self-paced learning modules for Royal Caribbean’s shipboard property management software. The first ship crew will access its software simulation training this December for a January ship launch, with staggered rollouts on additional ships in February and March 2014. It is anticipated that the online courses being developed by NetDimensions Interactive will be used to provide training to over 10,000 Royal Caribbean employees. 

Next Fifteen Communications Group (LON:NFC

Next Fifteen Communications Group, the digital communications group, announced the appointment of Peter Jonathan Harris, age 51, as Interim Chief Financial Officer of the Company, effective from 18 November 2013. This will be a non-Board appointment. Peter's financial experience spans 30 years and he has extensive media experience, having spent the last 20 years in finance roles in the media sector. Peter is currently a Non-Executive Director of Communisis (LON:CMS 59.5p / £115.67m) and has recently completed an interim Finance Director role at Centaur Media (LON:CAU 55.75p / £79.66m), which included directorships at some of its subsidiaries. During the previous 10 years, Peter was Interim CFO of Bell Pottinger, was CFO of the Engine Group, the UK's largest privately owned marketing services group and CFO of 19 Entertainment. Prior to that, he was Group Finance Director of Capital Radio.

Noricum Gold Limited (LON:NMG)

Noricum Gold Limited, the Austrian focused gold exploration and development company, provided an update on its 2013 work programme at the Company’s 100 per cent owned Rotgülden Gold and Precious Metals Project, which is currently focused on defining the extent of mineralisation already identified at the previously producing mine, one of four targets delineated to date. Results continue to reinforce the high grade nature and excellent prospectivity of Rotgülden. Noricum Gold Managing Director Greg Kuenzel said: “The results are extremely encouraging and provide us with confirmation that the known mineralisation continues at depth and remains open, in line with our geological model...Importantly, assay results from samples where there was visible gold are outstanding, so we look forward to further positives in the near future...The previously producing mine at our Rotgülden Gold and Precious Metals Project benefits from an extensive amount of historic work.  As drilling advances at this target to the north of the licence area, we have a number of additional initiatives underway focused on testing and qualifying historic work to further bolster our resource database."

Northcote Energy (LON:NCT)

Northcote, the onshore US oil and gas exploration and production company, announced the fracture stimulation of the West Little Drum well on its 51 per cent owned Horizon Project, which has resulted in a significant increase in production compared to pre-frac levels.  West Little Drum oil production increased over 600 per cent from pre-frac levels.  Oil production continues to fluctuate but the well reported an average of 40 (18 net) bopd for the most recent 7 days and an average of 35 (15 net) bopd over the entire 20 day post frac period.  Natural gas production at the four well Little Drum unit, which includes the fracked West Little Drum well, has increased from a pre-frac average of 43 Mcf/day (19 net) in September to an average of 118 (52 net) Mcf/day since resumption of natural gas sales and averaged 171 (75 net) Mcf/day for the first week of November, the most recent data available.  Frac completed at a gross cost of US$150,000 - expected to pay back from net operating cash flows within 90 days.  West Little Drum is the third of a four well frac programme for 2013 – the next well will be fracked before the end of the year.  Five additional horizontal wells on Horizon currently producing from the Mississippi Lime remain to be fracked.

Plethora Solutions Holdings (LON:PLE)* 

Plethora announces that the European Commission has granted marketing authorisation for the company's treatment for primary premature ejaculation (PE) in adult men under the name 'Prilocaine Lidocaine Plethora'. This product is also referred to by the company under its development code name PSD502. PSD502 demonstrated a highly statistically and clinically significant improvement in the primary measures of intravaginal ejaculation latency time (IELT), control and satisfaction in two pivotal, double-blind, placebo controlled phase III studies. In these studies, the product was shown in over 23,000 exposures to be well accepted by patients. The company believes that PE is probably the most prevalent sexual dysfunction in men. The condition has been characterised by the International Society of Sexual Medicine (ISSM) as being "a male sexual dysfunction" characterised by: ejaculation that always or nearly always occurs prior to or within about one minute of vaginal penetration; the inability to delay ejaculation on all or nearly all vaginal penetrations; and negative personal consequences such as distress, bother, frustration and/or the avoidance of sexual intimacy. The company estimates that there are in excess of 150m men aged between 20-69 years old in the European Union. With an estimated incidence of PE of 20-30 per cent of men, this implies that the potential population of men in the EU with the disorder is approximately 30-45m. In August this year, Plethora regained global control of PSD502 and work is well underway to file with the FDA in early New Year.

Scancell Holdings (LON:SCLP)

Scancell Holdings, the developer of novel immunotherapies for the treatment of cancer announced that it has been granted an extension of its option to commercialise Ichor's proprietary Trigrid(TM) electroporation delivery system with SCIB1, Scancell's ImmunoBody(R) vaccine for the treatment of melanoma. Under the terms of the extension, Scancell's option, which had been due to expire in July 2014, will be extended until July 2016. In exchange, Scancell has agreed to waive the two year lock period following the exercise of Tranche 1 share options (over 1,592,310 shares). The agreement with Ichor, signed in July 2009, provides for the supply and use of the TriGrid(TM) device for Scancell's pre-clinical and clinical studies with SCIB1 and gives Scancell an option to license TriGrid(TM) for commercial use on payment of certain undisclosed milestones and royalties. The Option could be exercised at any time up to July 2014. In return, Ichor was granted share options to subscribe for Scancell shares at a subscription price of 4.5p as follows: on regulatory approval to start clinical trials in the UK, 1,592,310 share options (Tranche 1); on starting the first Phase II clinical trial, 3,184,620 share options (Tranche 2); and on completing the first Phase II clinical trial, 3,184,620 share options (Tranche 3). Tranches 1 and 2 have already vested. On 15 November 2013 Ichor exercised Tranche 1 of the share options. 

Sphere Medical Holding (LON:SPHR)

Sphere Medical, a developer of innovative monitoring and diagnostic products for the critical care setting, announced that, in accordance with the collaboration announced on 28 June 2013, Ortho-Clinical Diagnostics, Inc. (OCD) now has an option to enter into negotiations with Sphere Medical to acquire exclusive global commercialisation rights to Proxima. Under the terms of the Collaboration Agreement, the trigger for these negotiations, which must be conducted in good faith by both parties, is completion by Sphere of the Data Package containing the Milestone Reports, and this is currently anticipated to be achieved by the middle of 2015 which is within the originally anticipated time frame set out in the Collaboration Agreement. Work towards achieving the Proxima CE Mark is well advanced and authorisation is expected during the first half of 2014. Upon receipt of CE Mark authorisation, Sphere Medical intends to launch Proxima in the UK, initially in key strategic teaching hospitals and subsequently in targeted clinical application areas suitable for early adoption of the Proxima system. 

Sula Iron & Gold (LON:SULA

Sula Iron & Gold, a multi-commodity exploration Company focussed on Sierra Leone, has announced that it has commenced further exploration work to prove up the gold mineralisation at its wholly owned 153 sq km Ferensola Project, located in the northern part of the Sula-Kangari Greenstone Belt in Sierra Leone, which is prospective for both iron and gold. Field work has commenced over several gold target zones located within the licence area, which appear to host source areas of placer gold - five target areas for hard rock gold mineralisation have been identified to date. Detailed ground work comprising a geochemical soil sampling programme and a ground magnetic survey is currently being conducted to delineate geological structures on two target areas - the Yanfarina and Lagunda prospects. Exploration focussed on locating optimum sites for diamond drilling programme is targeted to commence in 2014.  

Synety Group (LON:SNTY)

Synety announced that its US application, under Section 214 of the Communications Act of 1934, was approved by The Federal Communications Commission on 14 November. The grant of this US Telecoms licence will allow Synety to provide national and international telecoms services to US businesses and residents and so offer its CloudCall service in the US. Simon Cleaver, Synety's executive chairman, commented: "We have for some time been receiving considerable pull from a number of our integrated CRM partners wishing to offer our CloudCall Service to their US customers. Many of these partners are US owned and have home customer bases that are up to ten times the size of their UK bases. Having seen the enthusiasm their UK customers are showing for CloudCall they are understandably keen to offer our service to their US users. Gaining our US telco licence is the first step in what is an enormous and very exciting opportunity for Synety. Initially, we will be proceeding cautiously whilst we evaluate this market in greater depth. In the near term, our US activity will concentrate on working with our established partners who will be marketing the service to their existing customer bases and we will be running the service, as much as possible with our existing infrastructure and staff in the UK." 

Tracsis (LON:TRCS)

Tracsis, a provider of software and technology led products and services for the transportation industry announced that it has been awarded a feasibility pilot project with a major North American Class 1 Railroad company for the potential adoption of its remote condition monitoring technology and associated software. The project will cover five sites within the United States, should conclude within six months, and is being delivered in collaboration with a US based technology partner following a successful tendering process. The value of this project will remain undisclosed due to commercial sensitivities. This award is a significant step forward in the next phase of the Company's overseas growth strategy although Tracsis is keen to stress that at this point in time the feasibility project has no guarantee of future sales. 

Ubisense Group (LON:UBI)

Ubisense announced that a large European automotive manufacturer has chosen to extend its initial Smart Factory System deployment after going into production with the system earlier in July. The order, valued at approximately $1m, is part of a global framework agreement with the manufacturer and will extend the system from the assembly line to the finishing facility.  The Group reported that it has displayed strong momentum in the second half with its converged technology offering leading to significant contract wins during the current period. In order to meet customer demand for the converged solutions, the Group has accelerated investment in the product portfolio, including its next generation Smart Factory System and MyWorld products and applications. In addition, a large OEM deal initially expected to fall within the period delivering revenue of approximately £1.9m has been delayed due to the size and scope of the contract expanding. The deal is expected to deliver significant value next year. As a result, the Group now expects to post revenues at the lower end of the range of expectations and EBITDA in line with 2012 levels.

Ultrasis (LON:ULT)

Ultrasis announced that its recently-acquired screening and wellbeing subsidiary, Screenetics, has won three new contracts with customers spanning the public and private sectors. The value of the contracts is an estimated £2m per annum. The revenues are partly conditional on performance, but, based on past experience, Screenetics is confident of fulfilling the contract criteria. Ultrasis acquired Screenetics on the 4th October 2013 as part of its strategy to broaden the range of products and services it provides and to enable it to become a provider of wellbeing, health and social care services. The contracts relate to the provision of  9,500 flu vaccinations (currently being delivered on a one year contract), health screenings as part of a salary sacrifice scheme to a large public sector body (commences February 2014  part of a three year contract) and employee screening to a large UK corporate company (commences spring 2014, initially a one year contract). 

*A corporate client of Hybridan LLP

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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 Services 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.


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