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Breakfast News - Boku; SDX Energy; Erris Resources and more...

Breakfast News - Boku; SDX Energy; Erris Resources and more...

Small Cap Breakfast                          

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AIM:

Total number of AIM Companies (Incl Susp):

938*

Total number of AIM Companies trading:

889*

*as at close of business  02 July 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

*as at close of business  02 July 2018

 NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

 87*

Total number of NEX Growth Market Companies trading:

 84*               

*as at close of business  02 July 2018                            

*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity

                              

Dish of the day

Yellow Cake (LON:YCA) will use its expertise to generate value through the ownership of physical U3O8 (Uranium) together with a range of activities and opportunities connected with owning physical U3O8. Acquiring supply contract for up to $170m.  Has joined AIM today at an issue price of 200p

Off the menu  

No Leavers Today

            

What’s cooking in the IPO kitchen?

AIM

Ovoca Gold (to be renamed Ovoca Bio PLC) - RTO of IVIX, a Russian company developing a drug candidate for the treatment of female sexual dysfunctions. No monies to be raised, market cap of £8.5m, due 30 July

Nucleus Financial—independent wrap platform provider . FYDec17 revs £40.36m and PBT of £5.1m. Offer TBA. Due late July.

Kropz PLC-Intention to float by the  emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa

Immotion Group  - aims to become the market leader in "out of home" Immersive Entertainment Experiences. Offer TBA. Due 12 July

Strongbow Exploration (TSX:SBW) intends to dual list on AIM.  Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.

 

Main Market (Premium

ASA International— “one of the world's largest and most profitable international microfinance institutions, which aims to enhance financial inclusion among low-income populations throughout Asia and Africa in a socially responsible manner”.  Secondary sell down. No primary. Due July. Offer TBA

Ashoka India Equity Investment Trust—Target raise £100m. India  focussed high conviction, long-only IT. Due mid July.

 

Main Market (Specialist Funds)

Hipgnosis Songs Fund— offering pure-play exposure to Songs and associated musical intellectual property rights . Targeting £200m raise. Due 11 July

Tritax EuroBox raising up to £300m.  “Will provide an opportunity for investors to gain exposure to a portfolio of well located Continental European logistics real estate assets”. Due 9 July.

                                

Breakfast Buffet

Advanced Medical Solutions (LON:AMS) 321p £685.1m

Advanced Medical Solutions, the surgical and advanced wound care specialist company, announced a trading update covering the six-month period 1 Jan to 30 Jun 2018.

AMS continues to make good progress across the Group and can confirm that trading is in line with the Board's expectations.

"The Board is pleased with the ongoing performance of the business and we remain on track for the full year. We continue to be focused on our strategic objectives to grow organically and through acquisition whilst delivering innovation from our Research and Development pipeline."

The Group expects to publish its Interim Results for the period to 30 June 2018 on 12 Sept 2018.

 

Johnson Service Group (LON:JSG) 138p £503.5m

JSG, a leading UK textile rental provider, provided a trading update for the six months to 30 June 2018. 

Following the update in early May trading has continued to be strong and we now expect results for the full financial year to be slightly ahead of current market expectations.

Results are benefiting from both the acquisitions made in the second half of 2017 and from an encouraging underlying performance.

Planned capital investment across the business is continuing, thereby increasing our processing capacity and productivity levels.

Results for the half year are expected to be published in early September.

 

Boku (LON:BOKU) 121.5p £247.14m

Boku, the independent direct carrier billing company, provided the following unaudited trading update for the six months ended 30 June 2018.

Revenue for H1 2018 is expected to be in the range $16.5m to $17m (2017 $10.2m); representing growth in excess of 60% on H1 2017

Adjusted EBITDA has remained positive for H1 2018 with earnings on track to meet full year expectations

Total Processed Value (TPV)of $1.5bn for H1 2018 was 153% up on H1 2017's figure of $0.6bn. The total processed in the whole of 2017 was $1.7bn

10.3 million Monthly Active Users (MAU) of the Boku platform in June 2018 (H1 2017: 4.7 million)

The company held approximately $30m in cash at the end of period (2017: $20m). The average daily cash balance - a measure which smooths out the effect of carrier and merchant payments, was $23.1m in June (Dec 2017: $19.2m)

 

Boxhill Tech (LON:BOX) 0.04p £2.32m

The Group has experienced a substantial decline in certain payment processing revenues during May and June due to a requirement by particular banks to change the nature of transactions they are willing to deal with following regulatory changes. The Company are progressing a number of actions to address the issues, both structurally and in terms of business mix, and expects to update shareholders further during July.

The Annual General Meeting of the Company will be held at 11.00 am on 31 July 2018 at the offices of Allenby Capital Limited, 5 St. Helen's Place, London EC3A 6AB.

 

Premier Technical Services Group (LON:PTSG) 190p £208m

PTSG, the niche specialist services provider, announced that it has extended its Fire Solutions business through the acquisition M&P Fire Protection Ltd.  Based in Maidstone, M&P is a specialist in the installation and maintenance of sprinkler, dry and wet riser systems. It has been acquired for a total consideration of up to £3.5m, comprising an initial cash payment of £1m, deferred cash payments of £2.5m payable over five years, subject to the business achieving stretching and escalating milestone profitability targets in each of those periods. The deferred consideration can be paid in cash or shares at the sole option of PTSG.

Unaudited revenue of M&P for the year ended 31 March 2017 was £2.1m, delivering a profit before tax of £0.2m. Unaudited net assets at the same date were £0.2m.

The business will be integrated into PTSG's Fire Solutions business.  Paul Atkins and Michael Thackray of M&P will remain with the Group and work with PTSG's management team to grow and expand the acquired business

 

XLMedia (LON:XLM) 104p £223.6m

XLMedia, a provider of digital performance marketing, announced the acquisition of InvestorJunkie.com, a leading US personal finance website, for a total cash consideration of $5.8m.

InvestorJunkie is a website focused on providing information and reviews of various investment channels and financial products, including banking, stock brokers, robo advisors, lending, retirement accounts and more. The acquisition is expected to complete in the second half of 2018.

The acquisition of InvestorJunkie both broadens the Company's North American footprint and strengthens its personal finance sector reach, a key growth vertical for the Group. InvestorJunkie will be integrated into XLMedia's propriety Palcon infrastructure, which will enable the Group to improve day to day performance of the site.

 

SRT Marine (LON:SRT) 33.4p £42.9m

SRT Marine Systems, a global provider of maritime management and surveillance systems and the leader in Automatic Identification System (AIS) transceiver technology and product solutions, announced that it has entered an agreement with the Government of Ecuador to supply an IUUF (Illegal, Unreported, Unlicensed, Fishing) detection system.

The agreement requires SRT to supply and install its GeoVS display and analytics system in Ecuador and a feed of customised satellite monitoring data over a three-year period for the specific purpose of detecting illegal fishing activities by foreign vessels in and around Ecuador EEZ.

"We are delighted to have entered this initial Agreement with Ecuador. The advanced data fusion and analytics capabilities of our GeoVS system will enable our customer to quickly and accurately identify illegal fishing and other maritime activities and take appropriate action. The proven functionality and reliability, combined with the sophisticated analytics and future scalability of our systems were key factors in the customer's decision.”

 

SDX Energy (LON:SDX) 60p £122.7m

SDX Energy, the North Africa focused oil and gas company, announced that it has spud its SD-3X appraisal well at South Disouq, Egypt (SDX 55% working interest and operator).

The SD-3X well is the second of two appraisal wells in the Company's 2018 drilling campaign at South Disouq.  The well is anticipated to take up to 30 days to drill and if successful, will be completed, flow tested and connected to the infrastructure being developed at the SD-1X discovery location.

In addition, well testing at the SD-4X discovery is expected to commence in the next 10 days. Following the test, it is anticipated that the well will be connected to the infrastructure located adjacent to the original SD-1X discovery.

 

Erris Resources (LON:ERIS) 13.5p £3.96m

Erris Resources, the European focused mineral exploration company with a portfolio of zinc and base metals projects in Ireland and gold projects in Sweden, announced first drill results from the surface diamond drilling programme underway at its 100% owned Abbeytown zinc project in County Sligo, Ireland. 

The mineralised intervals below were all intersected in drill hole ERAB001

4m grading 10.85% Zn & Pb combined and 31.1g/t Ag from 163m to 167m

3.5m grading 6.34% Zn & Pb combined and 54.4g/t Ag from 129m to 132.5m

2.5m grading 7.40% Zn & Pb combined, 1.02% Cu and 29.5g/t Ag from 149m to 151.5m

2.3m grading 9.03% Zn & Pb combined and 28.4g/t Ag from 157m to 159.3m

Intersected strong mineralisation within basal shale for the first time thereby opening up new target potential

 

Seeing Machines (LON:SEE) 12.12p £260m

Seeing Machines, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has signed a five-year contract with US based John Christner Trucking to install its fleet of 850 trucks with Guardian, the Company's fatigue and distraction prevention technology for commercial fleets.

John Christner Trucking is a family owned business based in Sapulpa, Oklahoma and one of the leading refrigeration carriers across North America. This contract follows several other recent notable North American fleet contracts including Megabus (Coach USA), Royal Foods and Bison Transport Inc, all making a commitment to enhancing the safety of their drivers with Guardian.

 

The solution provides real-time, in-cabin alerts when fatigue or distraction is detected by the driver facing sensors, which work in all light conditions including night driving and when the driver is wearing sunglasses.

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