Proactive Investors - Run By Investors For Investors

Breakfast News - Totally, KRM22, Bagir Group and more...

Breakfast News - Totally, KRM22, Bagir Group and more...

Set menu




Total number of AIM Companies (Incl Susp):




Total number of AIM Companies trading:




*as at close of business  24 May 2019


Standard List**  of Main Market:


Total number of Standard List Companies


(Incl Susp):




Total number of Standard List Companies trading:




*as at close of business 24 May 2019


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 May 2019


*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


Millamber has left NEX Exchange.


LXB Retail Properties  has left AIM following dissolution of the Company.


Eight Peaks Group has left AIM but has appointed a firm to operate an electronic off-market dealing facility for shares .


What’s cooking in the IPO kitchen?


Main Market (Premium)


Trainline—Seeking £75m raise. Proceeds to target a net debt at IPO of c.2x LTM Adjusted EBITDA) . In FY 2019, Trainline achieved net ticket sales of £3.2bn, and revenue of £210m.  Due June


Airtel Africa Limited — provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa, looking to join the premium segment of the main market. Offer TBC, expected TBC


Main Market (Standard)


IMC Exploration Group (NEX: IMCP), focused on acquiring and exploring prospecting licence areas which have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. Expected 11 June 2019




Renold PLC—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019.


Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019


Banquet Buffet


Lookers (LON:LOOK) 86.27p £336m


AGM Statement from one of the leading UK motor retail and aftersales service groups, to be held later today.


The trading performance in the quarter was positive with a strong result during the important month of March.


New Cars.


Turnover of new cars increased by 3%, ahead of the total market reduction;


Total gross profit from new cars increased by 4% with a modest increase in profit per unit;


On a like for like basis, both turnover and gross profit were maintained at a similar level to last year.


Used Cars


Turnover of used cars increased by 8%;


Gross profit from used cars improved during the period with profit per unit being maintained at previous levels, resulting in an increase of 2% compared to the prior year;


On a like for like basis, turnover increased by 6% and gross profit increased by 1%.


Turnover of aftersales 11% higher than the prior year.


Patagonia Gold (LON:PGD) 53.5p £12.6m


Calcatreu and Cap Oeste Mineral Resource Update from the mining company with gold and silver projects in the Patagonia region of Argentina and in Chile and Uruguay.


Earlier today, Hunt Mining Corp. announced the terms of a recommended share for share exchange offer for the issued and to be issued share capital of Patagonia , to be effected by means of a scheme of arrangement. The Offer constitutes a reverse takeover for Hunt  pursuant to the rules of the TSX-V.


As part of the RTO process, the Company, pursuant to the rules of the TSX-V, commissioned the updating of the independent NI 43-101 compliant technical reports for both Calcatreu and Cap-Oeste.  At Calcatreu, the indicated mineral resources decreased by 21,000 contained gold ounces and the inferred mineral resources increased by 5,000 contained gold ounces. Similarly, indicated silver resources decreased by 465,000 contained ounces while inferred mineral resources decreased by 39,000 contained ounces . At Cap-Oeste, the measured and indicated mineral resources decreased by 176,000 contained gold ounces and 2,821,000 contained silver ounces primarily as a result of mine production depletion of the mineral resources.


Totally (LON:TLY) 10.18p £6m


The provider of a range of out-of-hospital services to the healthcare sector in the UK, announced that the Company has conditionally agreed to acquire Greenbrook Healthcare, a leading provider of NHS urgent care centres across London. The total consideration for the acquisition is £11.5m on a cash free and debt free basis, with a normalised level of working capital .


Intention to conduct a placing with certain institutional and other investors to raise gross proceeds of up to £9m at 10p per Ordinary Share, as well as an Open Offer of up to £1m.


Greenbrook Healthcare has experienced substantial revenue growth in recent years with revenue growing from £23.8m in the financial year ended 31 March 2016 to £33.4m in the year ended 31 March 2018.


KRM22 (LON:KRM) 71.5p £13.06m


The technology and software investment company, that focuses on risk management for capital markets, announced that it has partnered with Trailight Ltd to further enhance the KRM22's Global Risk Platform. The partnership includes an agreement for KRM22 to distribute and support the Individual Accountability Regime and People Risk Management products on the KRM22 Global Risk Platform.


Trailight provides two compliance products to capital market firms. The Individual Accountability Regime product is designed to be the industry benchmark for financial organisations to comply with the FCA Senior Management & Certification Regime ("SMCR"). The product provides firms the control, visibility and agility to manage accountability throughout the organisation. Trailight's People Risk Management product enables financial institutions to manage people risk efficiently in accordance with regulatory rules on competence and conduct risks.


Bagir Group (LON:BAGR) 2.2p £6.8m


The designer, creator and provider of innovative tailoring, provides an update with Shandong Ruyi's proposed $16.5m investment to acquire a 53.7% shareholding in Bagir, further details of which are contained in Bagir's announcements of 3 Sept 2018, 31 Dec 2018 and 13 Feb 2019.


The Company has not received the remaining cash payment of $13.2m under the terms of the Proposed Investment as at 30 May 2019, the extended unconditional completion date as announced on 31 Dec 2018, and nor has Shandong Ruyi met other commercial commitments that had been agreed. Instead Shandong Ruyi has requested an extension of the unconditional completion date to 18 June 2019 in order to discuss some changes to the agreed terms. Whilst the Board consider Shandong Ruyi's failure to complete the Proposed Investment as a fundamental breach of the Share Purchase Agreement entered into with Shandong Ruyi, the Board have agreed to this short extension due to the potential benefits that the strategic partnership might still have on the Company and its future prospects with all of Bagir's rights reserved.


Helios Underwriting  (LON:HUW) 135p £20m


FYDec18 results from the consolidator of private capital at Lloyd's.


32% increase in the capacity portfolio from the six acquisitions of 2018 and a further acquisition in 2019 to date.


Profit before impairments and tax for the year of £608,000 (2017: loss of £406,000)


Basic EPS of 3.14p (2017: loss of 4.75p)


Helios retained capacity for 2019 open underwriting year of £15.8m (2018 year of account: £12.3m)


2016 underwriting year of account profit return on capacity of 8.6% (2015 underwriting year: 12.9%)


Recommended total dividend for this year of 3p per share (2017: 1.5p per share)


Adjusted net asset value of £1.90 per share (2017: £1.60 per share)


The catastrophe losses in 2018 of £5.2m were reduced by reinsurance to £1.3m


Stop loss in 2019 continues to protect the downside


Audioboom (LON:BOOM) 2.3p £32.2m


“The leading global podcast company, announced its final audited results for the 13-month period ended 31 Dec 2018.


Revenue increased 92% to $11.7m (12 months ended 30 Nov 2017: $6.1m), with significant growth in the final three months of the period


Adjusted EBITDA loss reduced to $5.1m, with much improved performance in the final three months of the period


 Group cash as at 31 Dec 2018 of $1.6m (30 Nov 2017: $1m) - operating cash flow breakeven achieved in the final three months of the period”


“We are delighted with our performance in 2019 to date, with the recent funding allowing the Company to accelerate the signing of great new podcasts and a meaningful plan for an extended slate of co-produced and original podcasts, which will be delivered over the second half of 2019 and through 2020.  The increased volume of premium content is being matched by our industry leading sell through rates. Record quarterly revenue of $4.6m was reported for the first quarter of 2019, which is typically the quietest quarter in the year, and we expect for this growth to continue through the rest of 2019. 


Total Produce (LON:TOT) 139.5p £542m


Trading update. “The  leading international fresh produce company confirmed that the Group is targeting continued growth for 2019. The Group's full year earnings growth expectations remain unchanged, despite competitive markets and more uncertainty surrounding international trade.


As previously announced, on 31 July 2018 the Group completed the acquisition of a 45% stake in Dole Food Company , one of the largest fresh produce companies in the world.  Dole is currently trading in line with expectations, and 2019 will be the first full-year incorporating the Group's share of Dole's results. 


Subject to shareholder approval, a final dividend of 2.5140 cent per share will be paid on 6th June 2019 representing a 2.5% increase on last year.


Total Produce is in a strong financial position and the Dole transaction represents a very significant step and a continuation of the Group's successful expansion strategy.”


Accesso Tech (LON:ACSO) 790p £217m


The premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, announced the appointment of John Guilfoy as the Company's COO. John brings more than 23 years of experience in the travel, technology and financial services sectors leading a diverse set of teams across sales, marketing, product, operations and partnerships. From 2011 until he joined accesso, John served in various senior executive roles at TravelClick, a high-growth eCommerce SaaS provider to hotels, which was acquired by Amadeus for $1.5bn. 


Stride Gaming (LON:STR) 117p £89m


Stride Gaming confirms that it is in advanced discussions with The Rank Group Plc regarding a possible all cash recommended offer which values Stride's ordinary shares at a price of 151p per share.



There can be no certainty that this will result in an offer for the Company, nor as to the terms on which any offer might be made.

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