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Breakfast News - AIM Breakfast : Elecosoft, Franchise Brands PLC, Gaming Realms PLC, Grafenia Plc, OptiBiotix Health plc, Personal Group Holdings plc

Published: 14:38 17 Jul 2017 BST

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What’s cooking in the IPO kitchen?

AIM

GetBusy PLC—Sch1 from the holding Company of its subsidiary undertakings, which operates as a document management software business with over 110 full time employees, headquartered in Cambridge, UK and operating across the UK, USA, Australia and New Zealand.  Capital to be raised via a rights issues of £3m at 28.3p with anticipated market cap of £13.7m.

Work Group Plc—Sch1 from the Company that proposes to acquire the entire issued share capital of Gordon Dadds Group Limited (GDG). GDG is an acquisitive law firm and a group of other complimentary businesses, including Prolegal, an acquisition vehicle model focused on smaller law firm. Capital to be raised is £20m with anticipated market cap of £40m.

Quiz—Sch 1 from the omni-channel and international own brand in the women's value fast fashion sector.  Offer TBA. Expected late July.  Last year Quiz posted sales of £87.4m while pre-tax profits grew by 17pc to £5.7m .

Arena Events Group -provider of temporary physical structures, seating, ice rinks, furniture and interiors. Raising £60m. Mkt cap £63m. Expected on the Chef’s birthday, 25th July.

Altus Strategies—African focused natural resource Company. Offer TBC. Expected Mid July.

Harvey Nash Group— Provider of professional recruitment and offshore solutions moving to AIM from Main. No capital to be raised.  Mkt Cap c. £57.8m.

Greencoat Renewables  - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland.  Offer TBC. Due Mid July.

I3 Energy –Schedule 1 Update. Independent oil and gas Company with assets and operations in the UK.  Offer TBC, Mid July Admission.

Verditek— Sch 1 update. The Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p.  Admission late June.

Main Market Premium Listing

Hipgnosis Songs Fund investment Company offering pure-play exposure to Songs and associated musical intellectual property rights. Prospectus yet to be published.

Impact Investment Trust—Exposure to a diversified portfolio of funds providing SMEs across developing economies with the growth capital they need to have a positive impact on the lives of the world's poorer populations. Raising up to $150m at $1.00.

Curzon Energy—Report on Proactive Investors of intended LSE float this year  with acquisition of  coal bed methane assets in Oregon. Looking to raise £3m plus.

NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.

Kuwait Energy— has not been able to complete its initial public offering as announced in its Intention To Float of 3 May 2017. However, in light of positive feedback from potential investors, the Company remains committed to obtaining a London listing and continues to explore its options.

Main Market Specialist Funds

Supermarket Income REIT– Up to £200m raise to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income. Due 21 July. 

 

Lunch buffet

Zinc Media (LON:ZIN) 1.10p £5.89m

The TV and multimedia content producer provided a trading updated. The Group returned to profitability at adjusted EBITDA level with expected level reported at £0.3m. The Group had been through some restructuring during the year, which has positioned the Group strongly for the current financial year and beyond. The Directors believe that the Group's profitability will increase substantially during the current financial year. With a  strong order book in the TV division increasing by 76% to £6.5m compared to the previous financial year, the Board is expectant of increased profitability in the current financial year. There are no forecasts in the market.

Personal Group (LON:PGH) 362.5p £109.34m

The provider of employee services provided a trading update post HY June 2017. The performance of the Group during the first half of the year was in line with management expectations. The core insurance business continued to deliver solid results. Let’s Connect also had an encouraging start to the year, due to clients taking advantage of expiring tax exemptions on mobile phone products. Moreover, the Company's partnership with Sage to deliver Sage Employee Benefits to their extensive SME customer base, continues to make good progress. Consensus forecasts in the market for FY Dec 2017 show revs of £57.6m and pre-tax profits of £9.5m.

Yu Group (LON:YU) 457.5p £60.08m

The independent supplier of gas and electricity to the UK corporate sector has provided a trading up date for H1 2017. Group revenues increased by 272%  to £19m compared to the same period last year. As at 30 June 2017, the Group had £16.1m of contracted revenue which is expected to be recognised in H2 2017.  Therefore, the Group expects to report revenues of at least £35m for FY17, ahead of market expectations. Contracted revenue expected to be recognised for FY18 is already in excess of £20m. The size of the growth opportunity for the Group indicates that by investing further in the sales team and support infrastructure, the Group can accelerate its growth and profitability more rapidly than had previously been anticipated.

Franchise Brands PLC (LON:FRAN) 87.5p £68.02m

The multi-brand international franchisor, announced the appointment of Chris Dent as CFO, a Board position, with immediate effect. Chris was previously FD at 7digital (7DIG.L) and began his career at Deloitte LLP within in the audit and corporate finance departments. 

OptiBiotix Health (LON:OPTI) 12p £10.9m

The life science business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announced that it has agreed to develop and supply three different products containing LPLDL®, with minimum initial purchase of 10,000 boxes of each, to Pharmabiota NZ Limited. The agreement provides initial moderate levels of income, growing to six figure revenues in the second year, and a commitment of 10% annual growth.  The agreement is the first step outside Europe in a business to business (B2B) strategy of bringing OptiBiotix's science together with a partner's national brand portfolio and market presence to serve multiple consumer healthcare and pharmaceutical markets around the world.

Grafenia (LON:GRA) 7.25p £3.25m

The Company announced that is has acquired Image Everything Limited, a large format sign manufacturer and exhibition contractor. The current management of the vendors will remain with Image leading the team and developing the business. The total consideration, to be satisfied in cash and loan notes, will be up to £3.0m. The acquisition is cash flow generative and, once fully integrated, is expected to be earnings enhancing. The initial consideration, paid on completion, comprises cash of £1.15m, together with vendor loan notes of £1.25m. A further £0.6m is payable contingent upon the achievement of certain targets relating to the future financial performance of Image.

Kennedy Ventures (KENV.L) 10p £17.25m

The investment Company who, through its stake in African Tantalum Limited, has an interest in the Tantalite Valley Mine in Namibia, confirmed that African Tantalum  Limited has signed a multiyear    
supply agreement with a global North American leading tantalum consumer and end user of their tantalum ore as of 14 July 2017.  “We are very pleased to have secured a global leading tantalum consumer as a long-term partner and look forward to working closely with them as we continue to optimise the plant and deliver into the Customer's demand which continues to exceed current state production. Plant productivity is expected to increase periodically and sales also throughout CY17 and CY18.”

Gaming Realms (LON:GMR) 11.5p £36.32m

The Company that owns and operates the market-leading Slingo games portfolio introduced the newest game in the library: Slingo   
Rainbow Riches. This exciting and innovative game was developed in partnership with Scientific Games, a global leader in providing the world's best gaming experiences, and extends the suite of player-favourite Rainbow Riches games, which will be distributed through Gaming Realms' existing B2C and B2B channels. "We are really excited about the launch of Slingo Rainbow Riches and our collaboration with Scientific Games. It is a unique game that will take the market by storm and adds to the portfolio of Slingo games already enjoyed by millions."

Alpha FX (LON:AFX) 465p £149.07m

The corporate foreign exchange service provider provided a trading update for H1 June 2017. The Board reported that revenue for the period was ahead of expectations at £6.3m. The overall performance was driven by both an increase in new clients trading their foreign exchange through Alpha for the first time and increasing volumes of trades with existing clients.  As a result, Alpha expects to deliver a full year out turn above market expectations. Consensus market forecasts for FY Dec 2017 show revs of £11.2m and pre-tax profits of £5.30m.

Elecosoft (LON:ELCO) 48p £35.85m

The Board of Elecosoft announced that Elecosoft produced an encouraging trading performance in the six months ending 30 June 2017. Unaudited sales for the period, based on management accounts, were ahead of those for the corresponding period in 2016 and unaudited profits before tax for the period were significantly higher than unaudited profits before tax for the corresponding period last year. The Company expects to be in-line with market expectations for the full year.

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