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This week: Rangers kick off with strong ticket sales while Gaming Realms acquires players

Last updated: 13:22 19 Jun 2014 BST, First published: 12:22 19 Jun 2014 BST

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Abzena intention to float on AIM, ALL trading update, ARTA trading update and board changes, CDialogues intention to float on AIM, CBUY statement re share price movement, CSRT final results, CRU update re: supply agreement, Ergomed intention to float on AIM, GMR interim results, Global Invacom intention to float on AIM, IMImobile intention to float on AIM, LID AGM statement, PROX AGM statement, RFC strong season ticket renewals, SAR issue of equity, TUNG market update

Abzena (TBC)

Abzena, a revenue-generating life sciences company providing services and technologies that enable the development of better biopharmaceutical products, recently announced its intention to float on AIM.  Abzena's mission is to enable R&D companies to develop better biopharmaceutical products - e.g. therapeutic antibodies and proteins - with one or more of the following attributes: improved efficacy, fewer side effects, more predictable quality and/or improved patient compliance.  The company has a range of complementary services and technologies (covering biopharmaceutical immunogenicity assessment, antibody and protein engineering, manufacturing cell line development and bioconjugation).  Abzena's strategy is to continue to grow as a provider of services and technologies for biopharmaceutical R&D through expansion of its capacity to deliver services to its customers, investment in the development of new technologies and services and through strategic acquisition of additional technologies and capabilities

Allocate Software (LON:ALL)

Allocate Software, the provider of workforce and compliance optimisation solutions, provided an update on trading for its financial year ended 31 May 2014. The Company's audited results will be announced on 21 July 2014. During the period, the Healthcare division secured a significant number of contracts with both new customers and also for new products. Healthcare revenue has risen to 86 per cent of Group revenue from 79 per cent in 2013. Ian Bowles, Chief Executive Officer of Allocate commented: "2014 was another strong year for Allocate, underpinned by compelling levels of organic revenue growth and a significant increase in profits and margins. We have responded quickly to the evolving requirements of the NHS and during the year have designed, built and deployed the capability to provide the safe staffing reporting required of all NHS Trusts by NHS England and NICE. Our core offering, HealthRoster, has maintained its market leading position. We have secured the same number of new HealthRoster customers as in each of the last two years and continued to renew 100 per cent of HealthRoster term licenses. We more than doubled the number of Cloud customers as well as the number of customers that are now live on the V10 platform. Allocate closes the financial year 2014 with high levels of customer engagement and we remain confident that we are well positioned to continue to meet their needs and deliver on the strategy that we have laid out." 

Artilium (LON:ARTA)

In the interim results statement of 27 March, Artilium stated H2 revenue growth would depend on a promising sales pipeline conversion during a period of challenging conditions. The recent trading update confirms that these conditions have persisted. However the Board believes that there are a growing number of sales opportunities available to Artilium to address. The Company's financial performance for FY2014 remains dependent on the timing of the pipeline conversion. The Board expects H2 EBITDA to be lower than that of H1. Artilium’s unaudited cash balance at 31 May was approximately EUR 634k. It is proposed that on 1 July the current Chairman, Patrick Morley, and CEO Willem Van Den Brink will step down, to be replaced by existing non-executive director Jan-Paul Menke and Bart Weijermars respectively. Bart Weijermars was previously CEO of T-Mobile in the Netherlands from 2009 to 2011.

CDialogues (TBC)

CDialogues, a provider of specialised marketing services to mobile network operators (MNOs), with a particular focus on emerging markets, recently announced its intention to float on AIM. Using proprietary algorithms, CDialogues enables MNOs to provide targeted value added services to existing and new subscribers with the aim of maintaining and increasing subscriber numbers and increasing average revenue per user.  CDialogues' main countries of operation are Iraq and Kuwait.  The company is expected to raise £1.25m with an anticipated market capitalisation of c£13.23m.

CloudBuy (LON:CBUY)

The Board of CloudBuy noted the recent downward trend in the Company's share price, and is not aware of any business reason for the drop in value. The Company is performing strongly and is ahead of plan in terms of prospects and leads. There are a number of significant opportunities being pursued in Australia, New Zealand, Hong Kong, China, India, South Africa, USA and Canada along with major opportunities in the UK, specifically in Education, Defence, Health and Social Services. Whilst it is difficult to predict timings the directors expect a number of significant contract wins in the next few months. Chairman of CloudBuy, Ronald Duncan said: "I am delighted with the progress we have made since we raised the £ 5m in October 2013. Last week we visited a major multinational who believes that our marketplace model is the future of procurement, and I expect to see a take-off in our contract wins shortly." 

Consort Medical (LON:CSRT)

Consort Medical, a leading designer and manufacturer of drug delivery device technologies, announced its audited results for the year ended 30 April 2014. Bespak revenue surpassed £100m, with strong organic revenue growth of 5.2 per cent, in particular from Chiesi NEXThaler® and growth in adjusted EPS of 8.5 per cent to 48.3p per share. The Company announced an increased final dividend to 13.35p per share and that it had net cash of £25.8m despite significant investment in facilities and production capacity. During the period, it announced regulatory approval and the launch of the first auto-injector, for Dr. Reddy’s Sumatriptan, a migraine therapy and the award of an exclusive multi-year commercial supply contract for a dry powder inhaler (DPI) programme DEV610. The award of Bespak’s first MHRA licence for commercial drug handling for Nicoventures’ nicotine inhaler was granted during the period, as well as the unveiling of Syrina® and Vapoursoft®, delivering the first such liquid gas propelled auto-injector. The period also saw the completion and pilot scale manufacturing of Atlas Genetics io™ Cartridge (POC010) and the award of a development contract for novel PatchPump® infusion device from Steadymed. 

Coral Products (LON:CRU)

Further to the Company's announcement on 16 April 2014, the Board is pleased to announce that the ten year supply agreement with a leading national on-line retailer has now been signed. Pursuant to the Agreement, the Company will supply a range of totes to support the on-line retailer's growing presence as it capitalises upon its acknowledged expertise in this fast expanding area. The customer has indicated that it expects to place orders that would generate revenues to the Company of approximately £8m in the first two years of the contract. Initial deliveries are programmed from June 2014. 

Ergomed (TBC)

Ergomed, a UK-based company, dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, recently announced its intention to float on AIM.  Ergomed operates in over 40 countries engaging more than 200 people across five continents. Ergomed has two complementary businesses: The Services Business - a well established, clinical research business providing services to the pharmaceutical and biotechnology industry.  The company also operates The Co-Development Business - a growing portfolio of partnerships with pharmaceutical and biotech companies, providing its drug development services as a contribution in kind in exchange for a carried interest in any revenues attributable to the drug asset, including out-licensing milestones as well as sales of the product.

Gaming Realms (LON:GMR)

Gaming Realms, which creates, publishes and markets next generation online gaming products, announced its interims to March 2014. Revenue grew 400 per cent to £3.6m driven by a 61 per cent increase in depositing players to 47,174 and a 234 per cent rise in daily active players to 4,576. The company recorded a loss before tax of £4.9m including £5.2m spent on marketing. GMR ended the period with £1.8m of cash on the balance sheet. In December 2013, the Group acquired Quick Think Media for £2.3m to help facilitate its strategy of marketing across digital channels and in particular Facebook, which has already lowered the cost per active player on Pocket Fruity by 52 per cent. The Board remains confident that the Group is well positioned to maintain its strong growth trajectory and continued player acquisition. Part of the Group's mid-term term strategy is to develop a number of brands on its proprietary platform which should improve overall profitability following its launch in Q3 2014.

Global Invacom (TBC)

Global Invacom, a leading innovator and manufacturer of technology to the global satellite industry, recently announced its intention to float on AIM.  Global Invacom is a company incorporated in Singapore which is the holding company of the Global Invacom group of companies that develops, manufactures and distributes various communications technology both under its own name and as an original equipment manufacturer for its clients.  The Group is an established supplier of satellite communications technology to, amongst others, BSkyB, DISH and EchoStar and is experiencing increasing demand for its products from both its existing and new customers. In addition to broadcasters, the Group's customers also include building developers, electrical contractors, installers and mobile systems integrators.  The Group's two core businesses are the design, development and manufacture of satellite communications solutions including satellite dishes, low noise block (LNB), satellite TV, and cable peripherals and precision waveguide solutions for a number of multi-national clients.  The company is also involved in contract manufacturing of electronic solutions including circuit boards for use in, inter alia, set-top boxes and point of sales terminals on an original equipment manufacturer basis.

IMImobile (TBC) 

IMImobile, a leading global technology company providing software and services which help businesses capitalise on the growth in mobile communication, recently announced its intention to float on AIM.  Its solutions help its clients engage and transact with their customers more efficiently through smarter mobile engagement. The Company has developed a suite of software applications and services targeted at both mobile operators and enterprises marketed principally under the DaVinci brand.  The company is expected to raise between £25m-£30m on admission giving a market capitalisation between £51.7m-£56.7m.  

LiDCO Group (LON:LID)

LiDCO Group, the cardiovascular monitoring company, held its Annual General Meeting. At the meeting Terry O’Brien, Chief Executive Officer of LiDCO, made the following statement: "I am very pleased that we will be asking shareholders to approve the Company’s first Annual Report and Accounts that show a profit before tax and cash generation (before financing). Although last year saw considerable achievements against our objectives, these two achievements were a watershed moment for the Company. As well as having a strong position in the clinical market place, the business is also now well positioned financially to deliver further growth. The Company is well-funded and we expect to be debt free by the end of the year. We look forward to continued growth in profitability and remain confident of meeting market expectations for the full year.

Proxama (LON:PROX)

Proxama’s David Bailey, Non-Executive Chairman, gave a detailed update in an AGM statement pointing out that, Proxama has been investing heavily in its NFC proximity payments platform (and most recently HCE - Host Card Emulation) ensuring compatibility with all market developments and requirements. The Company has a growing pipeline of sales opportunities with major banking groups across Europe and South America, and fully expects to have the first service running with live payment cards in Q3 2014. The statement states that first half revenues will still be modest, though the board expects a significant increase in second half revenue, and anticipate a strong performance in 2015 as pilots turn into full scale roll-outs. The Company also reported that it has partnered with PrePay Solutions (PPS), to provide mobile contactless payment solutions to PPS's customer base. A world leader in prepaid and technology services, PPS (jointly owned by Edenred and MasterCard) and Proxama are collaborating to enable PPS's customers to make contactless payments via their mobile device, leveraging Host Card Emulation (HCE). 

Rangers International Football Club (LON:RFC)

Rangers F.C have confirmed that approximately 17,000 season tickets have been renewed to date for the Club's forthcoming SPFL Championship season. This level of renewals reduces the potential requirement for short term financing as highlighted in the Business Review Summary published on 25 April 2014 particularly given the updated season ticket pricing structure for the 2014/15 campaign. The Board also notes the strategic objectives that it identified in the Business Review Summary published on 25 April 2014 and the related funding requirements. The Board continues to evaluate its plans in this regard and will update the market in due course.

Sareum Holdings (LON:SAR)*

Sareum Holdings announced a conditional funding of £550,000 by way of a placing and an Equity Swap Agreement at 0.50 pence per share. YA Global Master SPV, Ltd. (YAGM) has subscribed for a total of 110,000,000 new ordinary shares in the Company at a price of 0.50p per share for a gross consideration of £550,000. The Company and YAGM have entered into an equity swap agreement covering 78,750,000 ordinary shares, pursuant to which the Company will pay YAGM £200,000. In consideration for this payment, the Company will receive twelve monthly payments of approximately £16,667, amounting to £200,000 in aggregate, between the date of the Equity Swap Agreement and 30 June 2015. The monthly payments can be adjusted either: up, if the average of the lowest 10 day VWAP during the relevant one month period is greater than 0.55p, being a 10 per cent premium to the Placing Price; or down, if the average of the lowest 10 day VWAP during the relevant one month period is lower than or equal to 0.55p. This would result in the Company receiving less funds from YAGM in any relevant one month period. Thus the funds received by the Company from the Equity Swap Agreement will be dependent on the future price performance of the Company's ordinary shares.

Tungsten Corp (LON:TUNG)

Tungsten Corp, the operator of a leading global e-invoicing network, has announced that Tungsten Network has been accredited as a supplier of the UK Government Crown Commercial Service, G-Cloud 5 Framework. Tungsten Network sees this development as a major step in cementing its relations with the public sector and strengthening its operations. Accreditation will help to accelerate business development as public-sector bodies benefit from pre-negotiated terms and fixed prices. It also eliminates the need for the public sector to tender competitively for the services covered by the framework, which in the UK can cost over £45,000 per process, the highest in Europe.

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