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Breakfast News - Scholium, TP Group, EPE Special Opportunities, Bluejay Mining and more...

Published: 10:56 02 May 2018 BST

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Small Cap Breakfast

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AIM:

Total number of AIM Companies (Incl Susp):

939*

Total number of AIM Companies trading:

886*

*as at close of business  30 April 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  30 April 2018

NEX Growth Market:

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

86*

Total number of NEX Growth Market Companies trading:

84*               

*as at close of business  30 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?

AIM

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 raising £150m at £1, market cap of £165m, expected 9 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

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

Vannin Capital—Press reports that  litigation funder Vannin Capital is working on plans to float on the London Stock Exchange later in 2018 with an expected valuation of well over £500m.

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

  
  
 
 
Breakfast Buffet

Scholium (LON:SCHO) 49p £6.66m

“The Group has continued to make progress during the six months to 31 March 2018 and this progress is expected to result in a small profit for the year to 31 March 2018, compared to a loss of £224,000 in the prior year. This profit is achieved after absorbing all of the formation and start-up costs relating to our new division Mayfair Philatelic Auctions Limited. Trading in Shapero Rare Books showed a good improvement overall compared with the prior year, due partly to higher sales and partly to the cost savings implemented.

Scholium Trading made a useful contribution albeit slightly below the previous year due to the timing of the sales of certain items delayed into the current financial year. Mayfair Philatelics had a successful first auction in March 2018 with gross sales of approximately £385,000. A further auction is planned for 6 and 7 June 2018.  Finally, central costs were reduced by approximately £100,000 during the year.” Scholium is a group of companies involved in the retail and trade of rare books, works on paper and fine art ,

TP Group (LON:TPG) 7.2p £49.7m

“The specialist services and engineering group, announced the award of a second call-off by the Ministry of Defence ("MoD") under the framework contract for Combined Oxygen Generating Systems ("COGS"), first announced on 11 April 2017.

This call off, worth c. £12.5m, is for a number of COGS units and additional ancillary items for in-service Royal Navy submarines. With this call-off, all options under this framework have now been taken up.  The systems will be manufactured by TPG Engineering and are expected to be fully delivered by 2026.”

FYDec18E rev £35.9m and EBITDA £3.4m.

EPE Special Opportunities (LON:ESO) 164p £46.4m

“The Board of EPE Special Opportunities plc are pleased to announce the Company's Audited Report and Accounts for the year ended 31 January 2018.

The NAV at 31 Jan 2018 was 234.43p per share, a decrease of 35.6% on the NAV per share of 364.13p as at 31 Jan 2017;

The share price at 31 Jan 2018 was 160p, representing a decrease of 40.4% on the share price of 268.50p as at 31 Jan 2017;

The positive momentum in most of the portfolio was overshadowed by a 58.8% fall in value of the Company's largest asset, Luceco PLC. This movement was reflected in the stock market performance of ESO plc over the period and represented an unwelcome setback for the Company. In Feb 2018, Luceco plc appointed a new, highly qualified and experienced chief financial officer, from FTSE 100 listed multinational building materials distribution company Ferguson Plc.”

OnTheMarket (LON:OTMP) 139.84p £84.65m

“The agent-backed company which operates the OnTheMarket.com property portal, announced that as of 25 April it has signed listing agreements with estate agents that have a total of more than 7,500 UK estate agency offices. This follows an announcement on 14 March that in the first five weeks since Admission, additional agent firms with more than 1,000 offices were in listing agreements with the Company, giving a total number at that time of over 6,500 offices covered by agreements.

In just over two and a half months since Admission to AIM, additional agent firms with more than 2,000 offices are now in listing agreements with the Company. The offering of predominantly free or discounted introductory rates is a key element of the Company's growth strategy, which aims to increase the core agent customer base, the number of their property listings on the portal and the traffic the portal attracts.”

FYJan19E rev £17.75m, pre-tax loss £22.43m.

Bluejay Mining (LON:JAY) 25.8p £217.5m

The “company with projects in Greenland and Finland,  announced that it has further increased its land package for the Disko-Nuussuaq Magmatic Massive Sulphide ('MMS') Nickel-Copper-Platinum Project ('Disko' or the 'Project') in south-west Greenland by an additional 1,616km2.  The Project now comprises a total of 2,586km2.  The area under license at Disko is now approximately the size of the country of Luxembourg and we have secured this additional acreage following positive results from recently completed internal studies. To view the press release with the illustrative maps and diagrams please use the following link:

https://www.rns-pdf.londonstockexchange.co­m/rns/8144M_-2018-5-1.pdf”

Plastics Capital (LON:PLA) 117p £45.62m

“The niche plastics products group, announced that it expects trading for the financial year ended 31 March 2018 to be broadly in line with market expectations. The Company expects to announce its results for the year ended 31 March 2018 in the week commencing 2nd July 2018.

As highlighted in the announcement on 1 March 2018, the financial year finished with both sales and profits a little weaker than expected.  For the year overall though we experienced a year of exceptionally strong, primarily organic, sales growth particularly in our Films businesses. Flexipol had another record year, Palagan continued to recover from a weak FY16-17 and Synpac performed well. As production between these businesses was increasingly being shared we have decided to bring them together under one management team. This will enable us to utilise capacity in the most efficient way possible and to improve margins across the division.” FYMar18E rev £77.5m, PBT£4.35m.

Evgen Pharma (LON:EVG) 19p £17.72m

The “clinical stage drug development company focused on the treatment of cancer and neurological conditions, announced the grant of a key European patent ascribing intellectual property rights to the Company for a method of stabilising sulforaphane, the naturally occurring compound on which SFX-01, the Company's lead product, is based. 

The grant of this core patent, which expires on 23 Jan 2028, marks another important step in expanding the Company's worldwide intellectual property estate surrounding sulforaphane and the Company's synthetic, stabilised version, SFX-01.

This patent represents the Company's second process patent grant in Europe and follows the announcement of a manufacturing and scale-up grant in October 2017. Composition-of-matter and manufacturing patents have already been granted in the USA.”

ClearStar (LON:CLSU) 46.5p £16.88m

“The technology and service provider to the background screening industry,  announced a strategic partnership with Veritas Prime, a leading provider in SAP® SuccessFactors® s­ales, services and support through www.HelpMyCloud.
com, to offer Veritas' clients an opportunity to quickly and seamlessly adopt ClearStar's industry-leading, mobile background screening solutions for their current hiring process. Under the Partnership, SAP® SuccessFactors® clien­ts will be able to take advantage of a candidate-friendly screening process designed specifically through the combination of ClearStar's innovative solutions, such as its mobile candidate portal, ScreenMeNow, and Veritas' strength in implementing SuccessFactors. This combination may also give a competitive advantage to companies in overcoming the cumbersome hiring processes to help clients hire the right talent they need to grow their  business in a timely manner.” FYDec18E rev $16m, pre-tax loss $0.56m.

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