Proactive Investors - Run By Investors For Investors

Breakfast News - Sareum Holdings, easyHotel, Drasper Esprit and more...

Breakfast News - Sareum Holdings, easyHotel, Drasper Esprit and more...

Set menu

 

AIM:

 

Total number of AIM Companies (Incl Susp):

 

921*

 

Total number of AIM Companies trading:

 

849*

 

*as at close of business  17 December 2018

 

Standard List**  of Main Market:

 

Total number of Standard List Companies

 

(Incl Susp):

 

139*

 

Total number of Standard List Companies trading:

 

130*

 

*as at close of business 17 December 2018

 

NEX Growth Market:

 

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

 

89*

 

Total number of NEX Growth Market Companies trading:

 

87*               

 

*as at close of business 17 December 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

 

No Joiners Today

 

Off the menu      

 

No Leavers Today

 

What’s cooking in the IPO kitchen?

 

Main Market (Specialist Funds)

 

The Global Sustainability Trust -aiming for attractive risk-adjusted returns by investing primarily in private market investments that are expected to have a positive environmental and social impact raising c.£200m. Due 31 Jan 2019.

 

AIM

 

PetroTal Corp is an oil and gas company whose shares are currently admitted to trading on the TSXV. The Company is focused on development of oil and gas assets in Peru and it currently has controlling interests in three onshore Peru license blocks. No new funds being raised.  Due 21 Dec.  Mkt cap c.£80m

 

Litigation Capital Management—provider of litigation financing and ancillary services, moving from ASX (ASX:LCA) to AIM. Offer raising £20m at 52p.  Due 19 Dec. Mkt Cap £56.5m.

 

Greenfields Petroleum (TSX-V:GNF)  production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected mid December.

 

Banquet Buffet

 

Sareum Holdings* (LON:SAR) 0.57p £17.26m

 

AGM Statement from the specialist small molecule drug development business.

 

“Our active development portfolio now comprises three compounds targeting important kinases in diseases for which there remain significant levels of unmet medical need: SRA737 (out-licensed to Sierra Oncology), SDC-1801 and SDC-1802. We have recruited two new Non-Executive Directors, Michael Owen, Ph.D and Clive Birch, each of whom has exceptional experience of direct relevance to your Company as it moves forward. “

 

SRA 737 “The reprioritising and enlarging of the ongoing Phase 1/2 studies has meant that the publication of clinical trial data is now expected to take place in mid-2019, with Sierra suggesting that these data will be submitted for presentation at the ASCO annual conference at the end of May/early June. “

 

TYK2 “We have commenced formal preclinical programmes for each compound with a view to entering the clinic in each of the indications in 2020. Additional research is ongoing to refine the clinical plans. In the meantime, the data arising from some of the work leading to the compound selection are being prepared for submission to a peer-reviewed publication and a conference presentation.”

 

Coinsilium Group (NEX:COIN) 3.55p £4.5m

 

Coinsilium Group, the blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies, announced an important development for its investee company StartupToken Ltd in which Coinsilium announced in Nov 2017 that it had acquired a 30% holding.

 

In Nov 2017 Coinsilium announced it had acquired a 30% holding in StartupToken Ltd at a valuation of circa £1.2m;

 

StartupToken is a Gibraltar-registered hyper accelerator helping entrepreneurs in the blockchain space to grow their projects into successful startups;

 

Blockwater Capital, a leading South-Korea digital asset investment fund, and one of the world's major investment funds in blockchain, has now acquired 7.4% of StartupToken for total consideration of £0.19m valuing StartupToken at £2.6m;

 

Coinsilium welcomes this investment in StartupToken from Blockwater, who share a complementary investment approach to Coinsilium as illustrated by previous co-investments in RSK Labs (now RIF Labs) and Bundle Network;

 

The implied valuation of StartupToken on the Blockwater investment, at £2.6m, represents a 116% increase on Coinsilium's own investment in Nov 2017;

 

As a result, Coinsilium's seed capital investment in Nov 2017 of £0.36m, is now worth £0.72m, an increase of 100% compared to the original investment.

 

Thor Mining (LON:THOR) 1.5p £10.4m

 

The Board of Thor Mining advised that proof of concept has been established for Insitu-Recovery of copper at the Kapunda Copper Project, in partnership with Environmental Copper Recovery SA Pty Ltd ("ECR").

 

The Kapunda Copper project, in which the Company has a right to earn into a 45% effective interest, holds an inferred JORC compliant resource of 119,000 tonnes of copper, as per the maiden resource estimate announced in Feb 2018 by Thor Mining (in partnership with Environmental Copper Recovery SA Pty Ltd ("ECR")) and Terramin Pty Ltd (ASX: TZN).

 

The Kapunda project follows a typical series of well-defined project development steps with each step being a "go, no-go" decision point.  The Proof of Concept of Insitu-Recovery (ISR) for the project is a significant step forward in the project development process.

 

Positive Initial hydrogeological assessment and water sampling completed;

 

Construction of the necessary technical models of geology, ore grade, copper species distribution, and fracture density;

 

Initial hydrogeological computer modelling which suggests that flow through the ore body is possible and the geology is amenable for ISR;

 

Successful completion of preliminary laboratory work, and determined the copper species present are recoverable;

 

Stage 2 work commenced

 

Scientific Digital Imaging (LON:SDI) 35.75p £30.92m

 

Scientific Digital Imaging, the group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, including life sciences, healthcare, astronomy, manufacturing and art conservation, announced its unaudited interim results for the six months ended 31 Oct 2018.

 

Revenue increased by 23% to £8m (H1 2017: £6.55m)

 

Revenue growth driven by organic (11%) and acquisitions (12%); organic revenue growth notably at the Atik Cameras and Sentek divisions with growth from acquisitions delivered by Applied Thermal Controls, Quantum Scientific Imaging and Fistreem

 

Adjusted operating profit increased by 31% to £1.5m (H1 2017: £1.1m)

 

Adjusted PBT increased by 32% to £1.5m (H1 2017: £1.1m)

 

PBT increased by 42% to £1.2m (H1 2017: £0.85m)

 

Cash generated from operations increased by 103% to £1.5m (H1 2017: £0.76m)

 

In Sept 2018, SDI acquired Fistreem International for consideration of £756,000

 

President Energy (LON:PPC) 9.57p £101.60m

 

President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provided an update relating to the Puesto Flores Concession in Rio Negro Province, Argentina (President 90% and operator - EDHIPSA 10%).

 

PF0 1005, the third and final new well in the current drilling programme has been successfully drilled, logged, cased and cemented to 2,360 metres on time and budget

 

Both primary and secondary targets have displayed 18 metres of net oil pay to be perforated in line with pre-drill expectations

 

The drilling rig is now being demobilised and testing and completion with the workover rig will commence towards the end of this week

 

The well is anticipated to come on production at or around New Year

 

Ubisense Group (LON:UBI) 68p £49.70m

 

Ubisense Group announced that, in connection with the conditional Sale of the RTLS SmartSpace business and the renaming of the group to IQGeo Group plc announced on 21 Nov 2018, approval of the German Federal Cartel Office to the Sale has been received.

 

Accordingly, the only remaining condition for the Sale transition is the completion of the restructuring of the Group to separate the RTLS SmartSpace business as set out in the circular. Completion of the Sale is expected to take place on 31 Dec 2018, after which it is expected that the shares of the Company will trade under the new name IQGEO Group Plc and the ticker (TIDM) "IQG" from 3 Jan 2019.

 

easyHotel (LON:EZH) 6.5p £126.25m

 

easyHotel, the owner, developer and operator of "super budget" branded hotels, announced that a planning application has been submitted for the development of a 209-room easyHotel, close to Paris-Charles de Gaulle Airport, France. The Group has signed an exclusive letter of intent with Groupe ADP (owner and operator of the three main airports in the Paris region and operator of a network of 26 airports worldwide) for an operating lease agreement for the hotel. The final agreement is subject to planning permission being granted and full legal documentation being agreed.

 

The new-build hotel, to be developed by Linkcity, is anticipated to open in the 2020/21 financial year. The site is within the Charles De Gaulle Airport perimeter, the second largest airport in Europe with around 70 million passengers a year. It is also a short distance from the Aeroville shopping centre which includes over 200 shops, 30 restaurants and a 12-screen cinema complex as well as Paris Nord Villepinte, the largest convention centre in France.

 

Draper Esprit (LON:GROW) 545p £539m

 

Draper Esprit, a leading venture capital firm investing in and developing high growth digital technology businesses, announced a further $12m (£9m) investment in Graphcore as part of a $200m series D funding round, valuing Graphcore at $1.7bn. Other strategic investors in the round include Microsoft and BMW.

 

As a result of the valuation at which this latest funding round was completed, the Fair Value of the Company's investment in Graphcore has increased NAV per share by approximately 29p.

 

Graphcore has built a completely new kind of processor and software specifically designed for machine intelligence. It has generated its first revenues this year, just two years after the company was founded. Headquartered in Bristol (UK), with offices in London (UK), Oslo (Norway), Palo Alto (USA) and Beijing (China), Graphcore has raised over $300m in funding to date.

 

Sunrise Resources (LON:SRES) 0.1p £2.4m

 

Sunrise Resources announced that it has now been issued with a further 50,000 shares in TSX-V listed VR Resources Ltd ("VRR") following the start of drilling on the Junction Copper-Silver-Gold Project in Nevada, USA, bringing the total number of shares in VRR held by the Company to 100,000.

 

VRR has issued the shares to the Company in part consideration of the acquisition of the Junction Copper-Silver-Gold Project as announced on 30 Aug 17.

 

Under the terms of the Company's agreement with VRR the issue of shares became due on the start of drilling and a further 250,000 shares are due to the Company in the event that VRR completes a 43-101 compliant mineral resource estimate for the Junction Project.

 

Sunrise also holds a 3% net smelter return royalty interest in the original 15 claims sold to VRR and all additional claims staked by VRR within a 2-mile radius.

 

Details of the proposed drill programme to test the Denio Summit target were given in the Company's announcement of 7 Nov 18.

 

 

This document, which does not constitute research, has been issued 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 should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. 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, directors, 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 UK, 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 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) 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 persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

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 UK or US securities law, or the law of any such other jurisdictions.

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, directors, 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.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior 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.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use