Small Cap Breakfast
Total number of AIM Companies (Incl Susp):
Total number of AIM Companies trading:
*as at close of business 24 April 2018
Standard List** of Main Market:
Total number of Standard List Companies
Total number of Standard List Companies trading:
**as at close of business 24 April 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 24 April 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?
Urban Exposure, a newly formed company which been established to pursue two main strategies in the residential development finance market - asset management of development finance loans and direct lending into development finance loans, looking to join AIM. Offer TBC, expected early May 2018
Rosenblatt Group -specialist litigation and contentious restructuring law firm established in 1989 based in the City of London. Offer TBC. Due 8 May.
Supreme, a leading manufacturer and supplier of branded consumer batteries, a manufacturer and supplier of branded and licensed consumer lighting and a leading manufacturer and supplier of vaping products in the United Kingdom, is looking to join AIM. Offer TBC, expected early May 2018
KRM22, a closed-ended investment company with a particular focus on risk management in capital markets, is looking to join AIM. Offer raising £10.3m at 100p expected market cap of £12.3m, expected 30 April 2018
Serinus Energy -international upstream oil and gas exploration and production company. Its principal assets are located in Romania (development phase) and Tunisia (production phase). Raising c.£10m. Offer TBA. Due mid May.
Main Market Premium Listing
Avast, global cybersecurity provider with 435m users worldwide. In 2017, the Group's Adjusted Billings was $811 million, Adjusted Revenue was $780 million, Adjusted Cash EBITDA was $451 million. Seeking to raise $200m. Due in May.
Fundamentum Supported Housing REIT. Raising £150m. Focussed on UK Social Housing assets. Due 2 May
Vivo Energy—retailer and marketer of Shell-branded fuels and lubricants in Africa, Due in May. 100% secondary sell-down of existing Shares by Selling Shareholders, No new Money. Pricing TBA
Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects. Due 03 May.
Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange.
Finablr - press reports in ‘Arabian Business’ that Money transfer firms UAE Exchange, Travelex and others under UAE billionaire Bavaguthu Raghuram Shetty’s newly formed holding company Finablr are preparing for a London IPO
Aggregated Micro Power Hldgs (LON:AMPH) 97.5p £43.19m
“The specialist aggregator of distributed heat and power and renewable fuels, is pleased to note the joint press release issued by Ørsted and IncubEx LLC, a company in which AMP has a 29.08% shareholding.
“Ørsted and IncubEx LLC are pleased to announce Ørsted's recent investment in IncubEx.
In IncubEx's recent $5m fund raise, Ørsted has taken a $1.65m stake thus becoming a major shareholder as well as a significant stakeholder in IncubEx's future. IncubEx's Directors are delighted to welcome Søren Scherfig, Head of Markets and Senior Vice President at Ørsted, to the Board of the Company. Existing IncubEx shareholders further supported the Company by making up the remainder of the fund raise.
IncubEx works in conjunction with its global exchange partner, European Energy Exchange and other leading service providers and stakeholders to design and develop new financial products inglobal environmental, reinsurance, and related commodity markets.”
Bushveld Minerals (LON:BMN) 20.30p £177.8m
Operational update in respect of its Vanadium platform, which consists of Bushveld Vametco, Mokopane and Brits.
Vametco produced 731 mtV in the form of Nitrovan®, an increase of 35.5% relative to Q4 2017 and 12.9% relative to Q1 2017, supported by the completion of Phase one of the expansion project;
The Metal Bulletin vanadium price based on the FeV mid average price for the quarter was $61.8/KgV, an increase of 58.1% relative to Q4 2017;
Phase two of the expansion project is progressing to increase production capacity to 3,750 mtV;
Vametco achieved an all-time record magnetite kiln feed during Q1 2018, supported by the completion of Phase one of the expansion project;
The Company has commenced an exploration programme at the Brits Project, which has shown positive drilling results;
Post the completion of the Vametco acquisition the Company is working on integrating its system and reporting standards across the group.
Boku (LON:BOKU) 102.5p £214.55m
The “independent direct carrier billing company, to announced an agreement with leading global payments provider Paysafe Group.
Boku provides Paysafe with carrier billing deposit services for its NETELLER and Skrill digital wallet services. This added functionality enables verified consumers to use their mobile phones to upload funds to their NETELLER and Skrill wallets. Carrier billing deposits into NETELLER and Skrill digital wallets can be used by consumers to make purchases from a variety of online merchants.
Paysafe's additional services supported by Boku are currently available to consumers in the UK, Norway, Sweden and Switzerland.”
Consensus forecasts shows FY18 revs of $22.8m and pre-tax profits of $1.2m
Porta Communications (LON:PTCM) 2.6p £10.28m
“Appointment of Emma Kane, CEO of Redleaf Communications, and Brian Tyson, Managing Partner of Newgate Australia, as Joint CEO of Porta.
The appointments mark a significant strategic step for Porta aimed at creating a more integrated global operation. Since its establishment in 2011, Porta has created and acquired an impressive roster of individual agencies across the UK, Europe, Australia, Asia and the Middle East, together with strategic partnerships in Europe and North America. The Group is now committed to bringing together the best of what it does regionally, nationally and internationally, by leveraging the expertise from its individual businesses for the wider benefit of the Group.”
Nexus Infrastructure (LON:NEXS) 207p £95.29m
HY Mar 18 trading update from the provider of essential infrastructure services to the UK housebuilding and commercial sectors,.
“For the six months ended 31 March 2018, Nexus expects to have achieved Group revenue and operating profit ahead of the performance in H1 2017. The Group continued to secure work in the period and the order book as at 31 March 2018 was £234.1m, a year-on-year increase of 30% and a £31.4m increase (16%) in the first half of the financial year. The Tamdown order book increased to £118.4m (18% year on year) and the TriConnex order book increased to £115.7m (44% year on year). The cash balance at 31 March 2018 was £14.8m.”
Consensus forecasts shows FY18 revs of £157.8m and pre-tax profits of £10.8m
Bahamas Petroleum (LON:BPC) 1.18p £18.8m
“The oil and gas exploration company with significant prospective resources in licences in The Commonwealth of The Bahamas advised that yesterday it lodged an application for Environmental Authorisation with the Government of The Bahamas.
The application for Environmental Authorisation has been submitted in the prescribed form as previously directed by the Ministry of Environment and Housing, and advised by the Bahamas Environment, Science and Technology Commission, in accordance with Regulation 3 (1) of the Petroleum Regulations 2016, part of the modernised and strengthened requirements governing the petroleum industry in The Bahamas, which took effect in July 2016. Environmental Authorisation represents the first step in commencing offshore field activity under the Regulations.”
Sunrise Resources (LON:SRES) 0.18p £2.7m
“The company focusing on the development of its CS Pozzolan-Perlite Project in Nevada, USA, is delighted to announce that it has signed a non-binding Memorandum of Understanding paving the way for the first sales contract for perlite from the CS Project.
The counterparty is a long established buyer and processor of raw perlite. The Purchaser's identity is being held confidential for commercial reasons.”
FYDec17 results from the provider of technology solutions and other services primarily to the insurance, automotive and healthcare industries.
Underlying business revenues increase to £44.9m (2016: £42.7m). Total revenues of £44.9m (2016: £43.6m)
Underlying EBITDA loss of £3.6m (2016: £4.9m)
Group cash and term deposits at 31 December 2017 of £62.8m
Continued reduction in Group complexity through closure of the majority of loss making, cash consumptive businesses
Underlying central costs reduced by over 40% in Q1 2018 compared to Q1 2017
“The Group enters 2018 a far simpler business and we expect this year will be a period of re-focus and development for ptHealth and ingenie. Both will be encouraged to invest ambitiously but prudently.”
Consensus forecasts shows FY17 revs of £44m and pre-tax loss of £4.5m.
“The group focused on the design and manufacture of scientific and technology products for use by the life science, healthcare, astronomy, consumer manufacturing and art conservation markets, announced an update on trading for the year ending 30 April 2018.
The Group now expects full year revenues, adjusted and reported PBT to be moderately ahead of previous expectations. In addition, adjusted and reported profit after tax is expected to benefit from a reduced Group tax charge which includes increased R&D tax credits accrued for both FY18 and FY17.
The Group expects to report significant revenue growth against FY17, reflecting both organic growth, and the acquisition of Astles Control Systems in H2 FY17, Applied Thermal Control in H1 FY18, and a contribution from the smaller Quantum Scientific Imaging acquisition in H2 FY18. Sentek's single-use electrodes and Atik Camera's new products for astronomy and life science applications have been key to delivering the organic sales growth.”
Consensus forecasts shows FY18 revs of £13.8m and EBTIDA of £2.9m