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Breakfast News - Cobra Resources, Bluebird Merchants etc...

Published: 10:23 15 Nov 2018 GMT

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AIM:

Total number of AIM Companies (Incl Susp):
922*
Total number of AIM Companies trading:
851*
*as at close of business  09 November 2018

Standard List**  of Main Market:
Total number of Standard List Companies
(Incl Susp):
138*
Total number of Standard List Companies trading:
120*
*as at close of business 09 November 2018

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):
88*
Total number of NEX Growth Market Companies trading:
86*               
*as at close of business 09 November 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
Cobra Resources has joined the Standard List. (LON:COBR) Raised £523k at 1.5p with 1 for 1 warrants. Mkt Cap £1m.  Formed to make acquisitions of tenements and projects in the natural resources sector
Off the menu      
No Leavers Today

What’s cooking in the IPO kitchen?
Main Market (Premium)

AJ Bell—one of the largest investment platforms in the UK—Expects to publish prospectus end Nov. FYSep18—revenues up 19% to £89.7 million, profit before tax up 31% to £28.4 million.

Nova Ljuublianska banka—financial and banking institution based in Slovenia with a network of 349 branches, dual listing process in Ljubliana with GDRs in London. For HYJun18 and for FY17 the Group recorded a net profit equal to EUR 104.8 million and EUR 225.1 million, respectively. 50% plus sell down. Estimated mkt cap €1bn to €1.3bn. Due 14 Nov
Sirius Aircraft Leasing Fund targeting a raise of US$250m - objective is to provide investors with an attractive level of regular income and capital returns through investing primarily in used, single-aisle aircraft. Due early Nov

Main Market (Standard)

Golden Saint Technologies Ltd, global technology investment company that provides investors with potential return opportunities. The Group has been supplying government organisations and large corporate clients with smart building solutions for the last 20 years, is looking to join the Standard List of the Main Market raising £911,213 at 0.75p. Expected 22 November 2018

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 end Nov

AIM

Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov

Titon Holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m.

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

Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA

Crossword Cybersecurity Plc* (AQSE:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is investigating the possibility of AIM admission. The Company is proposing to raise up to £2.25 million before the end of December, conditional on Admission.

The Panoply parent company of a digitally native technology services group founded in 2016 with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, is looking to join AIM. Offer TBC, expected late November 2018.

 

Banquet Buffet

Tatton Asset Management (LON:TAM) 250p £139.77m
HYSep 18 results from the on-platform discretionary fund management (DFM) and support services business for independent financial advisers (IFAs).
Group Revenue increased 15.7% to £8.45m (2017: £7.30m)
Adjusted Operating profit up 8.3% to £3.35m (2017: £3.09m)
Reported PBT increased to £3.08m (2017: £0.56m)
Interim dividend increased 27.3% to 2.80p (2017: 2.20p)
“We will continue to maintain a disciplined approach to executing our strategy of organic growth and are excited by the opportunities that exist in our chosen markets in the Financial Service sector. The Board remains optimistic regarding the prospects of the Group. “
FY2019E revs of £17.7m and EBITDA of £7.89m

VR Education (LON:VRE) 14.75p £22.21m
The “virtual reality ('VR') technology company focused on the education space, announces that, further to the announcement of 26 Oct 2018, it has now received confirmation from PlayStation that Titanic VR, a showcase experience placing users on the Titanic on the night of the sinking, has been approved for launch on 22 Nov 2018. Whilst the Titanic VR showcase has already launched on PC, Oculus Rift, HTC Vive and Windows Mixed Reality, it is the PlayStation platform that is expected to generate a significant percentage of Titanic VR's sales, as was the case with the launch of the Apollo 11 VR showcase. “
The Group's main focus remains the development and commercialisation of ENGAGE, its online virtual learning and corporate training platform. The commercial release of ENGAGE with full payment capabilities is progressing to plan and is scheduled to occur during Dec 2018.

Lightwave RF (LON:LWR) 8.25p £5.26m
The “smart home solutions provider, announced a distribution agreement with Dixons Carphone to sell Lightwave products online through its electrical retailer, Currys.
Currys online, which targets customers both in the UK and internationally, is now selling Lightwave's Smart Socket, Smart Dimmer and Lighting Starter Kit from the Smart Series product range.
Additionally, Lightwave has been participating in a number of electronics trade shows. It most recently exhibited at the ElexShow on 1 and 2 Nov 2018 and it will also be showing at Lux Live, Europe's largest annual lighting exhibition which is taking place at London's ExCel until today. Furthermore, Lightwave will also be exhibiting at Live North on 22 Nov 2018 at Aintree Racecourse, Liverpool.”

BigDish (LON:DISH) 2.75p £7.15m
The food technology company that operates a yield management platform for restaurants, provided a strategy update for both its UK and Asian operations.
Commencement of Asian Strategic Review due to informal approaches for acquisition
Initial beta period produced positive recommendations
New South West UK regional manager
Building a launch pad for UK growth in 2019
Technology team increased from seven to nine persons
As announced on 17 Sept 2018, the Company is confident that there are a potential 6,000 restaurant partners in the UK. The prime focus of Q4 2018 is building a launch pad for growth in the UK in 2019 which will be the prime focus next year. The Company expects to announce in early Jan its specific targets for the UK business in 2019 including various metric targets.

Accesso Tech (LON:ACSO) 1,550p £406.62m
The technology solutions provider to leisure, entertainment, cultural and hospitality markets, announced a strategic partnership with Village Roadshow Theme Parks This expansion with the largest Australian theme park operator marks the first holistic integration of accesso's queuing, ticketing, and guest experience management solutions tailored to the attractions industry.
Crucially, the integration will enable Village Roadshow to gather and leverage individual preference data to improve guest experiences, creating an integrated technology offering that adds value beyond the sum of its individual parts.

Eve Sleep (LON:EVE) 18.25p £20.23m
Results of new CEO review:
Differentiated brand positioning;
Expanded product range; and
Lower friction customer experience.
Trading: the Company now anticipates it will deliver revenues in line or above revised full year expectations, helped by the early success of the Dreams partnership, and early signs of convers improvements from Q4 projects. As part of the business review the Company has also re-evaluated its 2019 financial year expectations based on the new strategy. 2019 will shift to building capabilities in customer experience and product range, whilst optimising marketing investment. As such, whilst this work is underway, underlying revenues in the Group are now anticipated to finish below existing guidance, albeit with growth still expected to be strong in the context of the market. Planning to launch £15m fundraise this year.
FY2018E revs of £37.7m and EBITDA of -£19.5m

Bluebird Merchant (LON:BMV) 1.98p £4.3m
The Asian focused resource development group announced completion of a Private Placement of $0.38m at 0.025 per share, a 25% premium to yesterday’s close. The transaction was led by management and major shareholders
In addition to the Private Placement, funding of $0.75m, provided by CEO, Colin Patterson, which was first announced on 19 Dec 2017, will also be converted at the premium price of £0.025. These shares will be issued subject to publication of a prospectus at a future date. "We are pleased to have completed a premium Private Placement given the current market conditions. This demonstrates the confidence in our South Korean projects and in the progress that has been made as we continue to move towards our goal of reopening the mines.
We look forward to updating the market in the next few weeks regarding metallurgical test results from the Kochang gold and silver mine."

Eight Capital Partners (AQSE:ECP) 0.04p £0.2m
Eight Capital's stated strategy is to act as an investment vehicle focused on investments in the TMT and financial services sectors.
Having quickly identified several prospective opportunities, the Company is developing two arms of its investment strategy within its identified sectors, one in long term growth companies and the other in the consolidation of financial services companies.
The first of these investments was the investment of €111,100 worth of listed 8% yielding corporate bonds in Italian financial services company Finance Partners Group S.p.A., expiring in 2020.
More recently, the Company announced an investment of £0.25m into AIM listed Imaginatik Plc, the leading technology company that operates in the corporate innovation solutions software sector.

Actual Experience (LON:ACT) 260p £112.26m
FYSep18 update from the analytics-as-a-service company, The Board reported a year of strong progress for the Company, with revenue for the 12 months having grown to £1.1m (£0.4m). This growth is mainly driven by the part year contribution from the first full-scale customer deployment via one of its Channel Partners, as announced in April of this year. This means that the Company exits FY'18 with an annual recurring revenue of £1.6m. This excludes the second large scale customer implementation, announced 1 June 2018, which will contribute to the current fiscal year's revenue figures. This implementation and associated revenue growth demonstrates the potential scale of the Company's deployments within large enterprise customers and validates the Board's belief in their ability to generate annual revenues of, on average, $500,000 for Actual Experience. Cash £10.8m.

Learning Tech (LON:LTG) 120p £739.67m
The leading integrated digital learning and talent management services and technologies provider, announces the acquisition of the remaining 70% of Watershed Systems Inc.
Following strong progress in 2018, including the recent acquisition of PeopleFluent, LTG also announced a new strategic goal to achieve run-rate revenues of £200m and run-rate EBIT of at least £55m by the end of 2021.
LTG initially acquired a 30% stake in Watershed on 29 Jan 2016, for a total consideration of $3m.
Watershed is a SaaS business that develops learning analytics. Customers use Watershed's actionable insights to adapt their learning strategy, creating more effective learning experiences and verifiable business results.
 

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