Small Cap Breakfast
Total number of AIM Companies (Incl Susp):
Total number of AIM Companies trading:
Standard List** of Main Market:
Total number of Standard List Companies
Total number of Standard List Companies trading:
*as at close of business 12 February 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 12February 2018
*A corporate client of Hybridan LLP
** Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity
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What’s cooking in the IPO kitchen?
Core Industrial REIT—established to invest in Irish-based industrial properties, predominantly located in the Greater Dublin Area . Vendor placing and new funds to a total of €225m, Target gross proceeds €207m.
TruFin—holding company of an operating group comprising three growth-focused FinTech and banking businesses operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. Offer raising £70m at 190p with market cap of £185m, expected 21 Feb
Polarean - The medical drug-device combination companies operating in the high resolution medical imaging market. Offer TBC. Due 22 Feb
Block Energy—a NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC
Main Market Specialist Funds
Life Settlement—closed-ended investment company whose principal activities will be to support and manage portfolios of whole and partial interests in life settlement policies issued by life insurance companies operating predominantly in the US. Due 6 Mar.
Main Market Premium Listing
IntegraFin provides platform services to UK clients and their financial advisers through its award-winning platform, Transact. Due Mar 18. FYSep2017 PBT up 44% to £29.9m.
GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.
CVC (Sky Bet) rumoured to be seeking £2.5bn plus float.
VC firm Augmentum rumoured to be seeking raise up to £125m.
“The UK healthcare company and developer of a proprietary product targeted at the mobile health market with a primary focus on women's fertility, is pleased to announce that it has signed a marketing agreement with Wei Yi Bei Lian (Shanghai) Information Technology Co., Ltd ("BB Link").
BB Link offers free WiFi to waiting rooms in 1,500 maternity hospitals across China. Concepta has developed a landing page that will be displayed when patients connect to this WiFi service. The page will give an overview of the myLotus product and a link to the Concepta website where more in depth information can be found. Initially, Concepta's landing page will be launched in a select number of hospitals, and longer term, the Company will be able to reach hundreds of thousands of women in a phased rollout, through a highly targeted marketing channel.” We could see no forecasts.
Stratex International (LON:STI) 0.75p £3.5m
The gold-focused exploration and development company in Turkey and Africa, is pleased to provide an update on its Hasançelebi and Doğala gold projects in Turkey
Agreement to transfer Hasançelebi and Doğala Exclusive Exploration Licences to TET;
TET to pay Stratex $50k within one week of signing the Agreement;
TET to spend up to $1.5m on exploration and drilling at the Projects within two years
TET to pay Stratex $0.5m success fee (in cash) if minimum JORC-compliant Measured or Indicated resource of 100,000 oz gold (at 0.3 g/t Au cut off) is confirmed within oxide and transition material at Hasançelebi -
Stratex to receive a 1.5% net smelter returns ('NSR') royalty on any future precious metals production at the Licences, and a 5% NSR royalty on the future production of any other metals or industrial raw minerals.
Scancell Holdings (LON:SCLP) 12.75p £39.79m
“ISA Pharmaceuticals B.V. ('ISA'), a clinical-stage immunotherapy company, and Scancell Holdings Plc, the developer of novel immunotherapies for the treatment of cancer, are pleased to announce that they have entered into a worldwide licensing and collaboration agreement to use ISA's AMPLIVANT® adjuvant technology for the manufacturing, development and commercialisation of Scancell's first Moditope® development candidate, Modi-1. This partnership has the potential to provide a new treatment option for patients with triple negative breast cancer, ovarian cancer, sarcomas, and other solid tumours. Under the terms of this agreement, ISA has granted Scancell an exclusive worldwide license to manufacture, develop and commercialise the AMPLIVANT®:Modi-1 conjugate therapy and will contribute know-how and expertise related to AMPLIVANT®.“ Clinical studies to start H1 2019.
Stadium Group (LON:SDM) 119p £45.43m
Recommended cash offer by TT Electronics. 120p per share or £45.8m. 34.7% premium to yesterday’s close.
Stadium is a design-led technology business with a focus on wireless connectivity, power and interface and displays .
FYDec17E rev £61m and PBT £4.5m.
LiDCO (LON:LID) 7.37p £18.01m
FYJan18 trading update from the hemodynamic monitoring company .
“LiDCO product revenues for the year are expected to be up 2% to £6.87m (2017: £6.76m) with total revenues (including third party products) expected to be up by 1% to £8.27m (2017: £8.21m). Excluding China, where as previously announced no sales were recorded in the year as regulatory approval is sought for a fundamental accessory, LiDCO product revenues were up 9% to £6.87m (2017: £6:27m). During the year the Company launched its latest monitor, LiDCOunity v2, with the new highly differentiated High Usage Programme (HUP) business model. HUP is building momentum after its launch in July 2017, achieving a global installed base of 96 monitors with total annualised revenue of £0.73m. As of 31 January 2018, LiDCO had £0.60m of deferred revenues on the balance sheet arising from the HUP. Overall the new LiDCOunity v2 contributed to the strong demand for monitors with 315 units being sold or placed in the year (2017: 227 units).” FYJan19E rev £11.2m, PBT £1.3m.
The People’s Operator (LON:TPOP) 0.1p £3.34m
FYDec17 trading update from the cause-based commercial mobile virtual network operator.
* FY2017 average revenue per user ("ARPU") in the UK of £11.02 (FY2016: £13.22) for PAYG customers and £9.78 (FY2016: £12.50) for PAYM customers
* FY2017 average revenue per user in the US of $20.15 (FY2016: $22.09)
* Average customer acquisition costs remain low at £7.76 in the UK (FY2016: £5.70) and $21.71 (FY2016: $22.00) in the US
* Overall Airtime margin for 2017 is more than five times that of 2016, reflecting ongoing reductions in wholesale rates
* Year-on-year churn has more than halved in the UK and has declined by over 50% in the US
* ARPUs in the UK were affected, particularly in H2 2017, through discounting via affiliate platforms. Such unprofitable discounting has now been discontinued.
Earthport (LON:EPO) 12.02p £73.71m
“The leading payment network for cross-border payments, is pleased to provide an unaudited trading update for the six month period ended 31 December 2017 ("H1 FY 2018").
* Revenues grew by approximately 8% to £15.4m (H1 FY 2017: £14.3m)
* Adjusted gross margin decreased by 9% to 64% compared to 70% in H1 FY 2017, due to network delivery costs and mix of business
* Administrative expenses increased by approximately 7% to £13.9m (H1 FY 2017: £13m), representing 90% of revenues (H1 FY 2017: 91%)
* Adjusted EBITDA loss increased by approximately £1.7m to £3.2m (H1 FY 2017: £1.5m)
* Cash Balance at 31 December 2017 amounted to £30.6m, compared to £11.9m at 30 June 2017. This includes net proceeds of £24m raised in October 2017”.
Innovaderma (LON:IDP) 187.5p £26.96m
HYDec17 results from the UK developer of life sciences, beauty and personal care products. Group revenue grew strongly by 31% to £4.2m. Loss before tax of £0.03m (HY2016: £0.15m) due to planned investment in people required to support international growth, and pre-launch product development expenses. Successful launch of the new hair loss treatment and hair care brand, Roots Double Effect ("Roots") in the UK, both within DTC and Retail channels during Q1 Cash of £2.05m. Remains confident of meeting market expectations. FYJun18E rev £13.8m and PBT £2.4m.
Ten Lifestyle Group (LON:TENG) 160p £125.2m
The “technology-enabled lifestyle and travel platform for the world's wealthy and mass affluent, is pleased to announce it has won a new, additional contract with Visa International ("Visa") to provide concierge services to its high and ultra-high-net-worth clients as part of its Visa Infinite and Visa Signature affluent card concierge programmes. The service will be rolled out in Central Europe, the Middle East and Africa, with the transitioning process having already commenced.” FYAug18E rev £44.7m, PBT loss £10.6m.