logo-loader

Today's Market View - Kibo Energy, ULS Technology, Sirius Real Estate and more...

Published: 16:41 25 Jan 2021 GMT

Kibo Energy PLC -

25 Jan 2021

@HybridanLLP

 

*A corporate client of Hybridan LLP

Dish of the day

No joiners today

Off the menu

No leavers today

What’s cooking in the IPO kitchen?

NQ Minerals, the base and precious metals producer from its 100% owned flagship Hellyer Mine  and the 100% owner of the Beaconsfield Gold Mine, both in northern Tasmania, Australia, has submitted a draft prospectus to the UK Financial Conduct Authority  for approval. The Company is considering applying for admission of its ordinary shares to the Official List of the FCA by way of a Standard Listing and to trading on the Main Market of the London Stock Exchange . Details TBA

Foresight Group , the award-winning infrastructure and private equity investment manager  to IPO on the Main Market (Premium). The Offer will primarily comprise a sale of shares by existing shareholders (c.80% of the Offer) with a smaller offering of new shares (c.20% of the Offer) to be issued by the Company. Details TBA.

Cornish Metals (TSX-V: CUSN) intends to list on AIM. The Company is proposing to raise £5m by way of private placement of new Common Shares to advance the United Downs copper-tin project. The Company expects that Admission will become effective in February 2021.  The Company's Common Shares will continue to be listed and trade on the TSX-V in Canada.

VH Global Sustainable Energy Opportunities plc, a closed-ended investment Company focused on making sustainable energy infrastructure investments announced it intends to launch an IPO of shares on the Official List (Premium) of the Main Market of the London Stock Exchange.  Due by Early Feb.

 

Banquet Buffet

Kibo Energy* 0.28p  £6.2m (LON:KIBO)

The multi-asset, Africa focused, energy company announced that its 100% UK subsidiary, Sloane Developments Ltd, has progressed the acquisition transaction announced in the RNS of 07 September 2020, to the point where it is now finalising a definitive Share Purchase Agreement  to acquire 100% of the 9MW flexible gas power project. 

The decision was largely influenced by the rapid progress made in getting the site ready to commence with commercial production. Latest reports from the project vendor and onsite engineers state that the site will be in electricity generation readiness by mid-February 2021. The site and equipment will then settle into steady state electricity generation and commensurate revenue creation as planned for the project life cycle. Completion of the Acquisition still remains subject to, amongst others, the following conditions precedent as reported earlier: · MAST Energy Developments Plc ("MED"), the 100% holding company of Sloane being successfully admitted to trading on the London Stock Exchange; and · All applicable necessary, regulatory, statutory, board and other approvals or consents having been obtained by the parties.

Louis Coetzee, CEO of Kibo, said: "Completion of the onsite engineers' checklists and reports to sign -off to commence electricity generation in February 2021 is a significant platform for Sloane to operate from as a first step towards a position of significantly stronger potential revenue generation and associated profitability. This is particularly significant since the Acquisition will deliver a production ready site, which based on current projections, will coincide with the completion date of the successful listing of MED.”

Kibo Energy also announced the appointment of Hybridan LLP as broker with immediate effect.

 

ULS Technology 86.8p  £56.3m (LON:ULS)

The provider of online platforms to support UK consumers moving home , announces that the new Chief Executive Officer, Jesper With-Fogstrup, has now commenced his role at the Company. bAs previously announced, Jesper has over 20 years' experience within digital and technology businesses, joining the Company from HSBC where he was Global Head of Digital as a Channel, prior to which he was COO of Comparethemarket.com. 

Current trading conditions remain buoyant with a large number of instructions in the pipeline looking to complete in this quarter. The Company continues to have a healthy balance sheet with zero debt and substantial cash balances following the £27m Disposal of Conveyancing Alliance Limited in November 2020.

 

Sirius Real Estate 88.25p  £929m (LON:SRE)

Titanium, the joint venture between AXA IM Alts, a global leader in alternative investments with c.EUR153 billion of assets under management1 and Sirius Real Estate , a leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany , have notarised the acquisition of the Sigma Technopark in Augsburg, Germany for total acquisition costs of approximately EUR80 million from a German special fund managed by Corestate Group. The addition of the site provides attractive day one income based on an EPRA NIY of 6.0% and increases the size of the Titanium portfolio to c.EUR317 million, nearly double its value at launch in August 2019 (EUR168 million).

 

Angus Energy 1.2p  £9.2m (LON:ANGS)

Further to the RNS of 30 November, the Company, Saltfleetby Energy Limited and Aleph Energy Limited  have appointed lawyers, following the completion of technical due diligence.

Legal and corporate due diligence is being conducted in parallel with the drafting of the loan facility and security agreements, with the objective of concluding the documentation in the coming two to three weeks, with drawdown shortly thereafter following the satisfaction of the conditions precedent, standard for a facility of this nature.

George Lucan, Angus CEO, comments: "We are pleased to be moving forward with the Aleph Facility and the planned re-start of the Saltfleetby Gas Field, which in conjunction with the developments in the associated renewables projects, we hope will provide a major move forward for Angus as a disruptive Energy Transition company with production assets .  We will also look forward to providing an update on the Company's progress on other assets in due course."

 

Zephyr Energy 2.15p  £15m (LON:ZPHR)

The Rocky Mountain oil and gas company focused on responsible resource development, provides an update on its project in the Paradox Basin, Utah, U.S. and other matters . As previously announced, the State 16-2 well was drilled successfully and safely to a total depth  of 9,745 feet in less than 19 days, a record performance versus historical drilling in the northern part of the Paradox Basin. In addition:

 · The data acquisition programme secured 113 feet of continuous core from the Cane Creek reservoir. 

· 31 sidewall cores were secured from 11 overlying secondary reservoirs, an increase over the initial goal of 20 cores from 7 overlying reservoirs.

· Open hole logs were run across the bulk of the Paradox Formation, and these logs are now being integrated with existing log data from the neighbouring State 16-42 well co-located on the same pad.

· Initial indications showed similar log responses to offset wells, suggesting the presence of hydrocarbons in multiple reservoir intervals.

· Data analysis is underway, and the Company expects to announce initial results on 29 January.

 

Anexo Group 132p  £153m (LON:ANX)

The specialist integrated credit hire and legal services provider, today provides a Trading Update in respect of the year ended 31 December 2020 ('FY 2020').

 

In FY 2020 the Group remained fully operational throughout both nationwide lockdowns and, despite the COVID-19 pandemic, revenue growth has exceeded the Board's expectations. The Group has maintained its strategy of recruiting high-quality staff within its legal division, Bond Turner, and consequently salary and other associated costs have increased during the year. Nevertheless, the Board is pleased to announce that adjusted* profit before tax will be in line with current market expectations. 

 

Minds + Machines 4.52p  £39.6m (LON:MMX)

One of the world's leading owners and operators of Internet Top-Level Domains, announced a trading update for the year ended 31 December 2020 . At the time of this update, all numbers are unaudited.

Tony Farrow, who re-joined MMX at the end of October as Interim CEO has been appointed CEO of the Company. Mr. Farrow will also join the Board of Directors following completion of regulatory due diligence.

Commenting on FY 2020 trading, Tony Farrow said: "It is great to be back working with the MMX team.  Our FY 2021 plan will focus on AdultBlock sales, extensive release of inventory to the market, quality registrations with the view of future renewal revenue and standardized promotions for our channel partners.  It is a straightforward business where focus must remain on the quality of our domain registrations and promotions with our channel partners.  We lost some of the momentum after the initial launch of AdultBlock in FY 2019.  However, FY 2021 was always the target year for the full rollout of this new product, and I am encouraged by the dialogue with our channel partners to really move AdultBlock in FY 2021.  I look forward to sharing more insight and information when we release our FY 2020 results in the Spring."

 

Eckoh 64p  £162m (LON:ECK)

The global provider of secure payment products and customer contact solutions, today announces it has launched an upgraded version of CallGuard, its patented PCI DSS compliant secure payment solution. 

The new, more advanced features will improve functionality and user experience for contact centre agents and managers. The new agent interface will provide greater control, helping agents to complete payment calls faster, with greater accuracy, providing a more efficient customer experience. New real-time, advanced analytics and comprehensive reporting dashboards will deliver increased visibility of contact centre operational performance and payment related call data, enabling clients to improve business-critical decision making. Equipped with tighter controls and greater intelligence, the new CallGuard solution will afford contact centre managers with greater levels of efficiency as well as best-in-class security to mitigate against online fraud.

 

Gaming Realms  36.4p  £104.34m (LON:GMR)

The developer and licensor of mobile focused gaming content has secured a new three-year direct-integration agreement with BetMGM, a leading sports-betting and online gaming operator, to increase the Company's presence in the United States. 

BetMGM is a Joint Venture for iGaming between MGM Resorts International and Entain PLC (formerly GVC plc). 

Under the terms of the new agreement, Gaming Realms' Slingo content will be directly integrated into BetMGM Casino in Pennsylvania and Michigan during H1 2021. The direct-integration agreement reinforces the relationship between Gaming Realms and BetMGM and will facilitate the Group's access to additional U.S. markets in the future.

 

Arricano Real Estate  0.3p  £31m (LON:ARO)

Further to the announcement dated 14 December 2020, Arricano is pleased to confirm that the temporary restriction by the local authorities relating to customer access to its retail shopping centres has now been lifted.

As a result, all of Arricano's  Ukrainian shopping centres fully re-opened for business today.

Anna Chubotina, Chief Executive of Arricano, said, "We are very pleased to be able to re-open. We look forward to getting back to business as normal."

 

Head Chef

Derren Nathan

0203 764 2344

derren.nathan@hybridan.com

Status of this Note and Disclaimer

This document has been issued to you 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 is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of section B of annex I to Directive 2014/65/EU ("MIFID II Directive"); or (ii) investment research as defined in article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II              Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority's Conduct of Business Sourcebook).

This document should not be relied upon as being an independent or impartial view of the subject matter. 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, 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 United Kingdom, 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 (SI 2005/1529) (as amended) or (ii)  persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority's Conduct of Business Sourcebook) 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 any person who would be classified as a retail client under the Financial Conduct Authority's Conduct of Business Sourcebook.

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 territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.

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, 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.

This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written 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.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

1 hour, 5 minutes ago