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Breakfast News -AIM Breakfast : EU Supply, FAIRFX, BlueRock Diamonds and others

Published: 10:59 05 Jul 2017 BST

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Set menu NEX Growth:

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

85*

Total number of NEX Growth Market Companies trading:

80*               

*as at close of business 04 June 2017


 
Set menu AIM:

Total number of AIM Companies (Incl Susp):

958*

Total number of AIM Companies trading:

925*

*as at close of business 04 June  2017

   
 
Dish of the day

No NEX Growth Market Joiners or Leavers Today


    
What’s cooking in the IPO kitchen?

AIM

Altus Strategies—African focused natural resource Company. Offer TBC. Expected Mid July.

Harvey Nash Group— Provider of professional recruitment and offshore solutions moving to AIM from Main. No capital to be raised.  Mkt Cap c. £57.8m.

AnimalCare—RTO of Ecuphar NV, a European animal health company. £30m raise. Ecuphar FY16 rev £68.4m, underlying EBITDA £8.9m. Due 13 July.

Angling Direct  -Schedule 1  from the specialist fishing tackle retailer in the UK . Raising £9m of which £7.4m new money. Mkt cap c. £27.4m.  Due 13 July

NEXUS Infrastructure—Offer TBA.  Provider of essential infrastructure services to the UK housebuilding and commercial sectors. Expected 11 July. FYSep16 rev £135.7m.

Tatton Asset Management –Sch 1. Provider if services to FCA authorized financial advisers. Raising £10m at 156p. Secondary offer £41.6m. Due 6 July.

Greencoat Renewables  - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland.  Offer TBC. Due Mid July.

QUIZ— Omni-channel fast fashion womenswear Company intention to float. Due July 2017.  Offer TBA

I3 Energy –Schedule 1 Update. Independent oil and gas company with assets and operations in the UK.  Offer TBC, Mid July admission.

Verditek— Sch 1 update. The Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p.  Admission late June

Main Market Standard Listing

Rockpool Acquisitions—Northern Ireland based Company seeking  strong NI acquisition with an international outlook. Raising £1.5m at 10p. Due 5 July.

Main Market Premium Listing

Hipgnosis Songs Fund investment company offering pure-play exposure to Songs and associated musical intellectual property rights. Prospectus yet to be published.

Impact Investment Trust—Exposure to a diversified portfolio of funds providing SMEs across developing economies with the growth capital they need to have a positive impact on the lives of the world's poorer populations. Raising up to $150m at $1.00

Residential Secure  Income -  social housing REIT  raising up to £300m Admission due c.12 July.

Curzon Energy—Report on Proactive Investors of intended LSE float this year  with acquisition of  coal bed methane assets in Oregon. Looking to raise £3m plus.

NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.

Kuwait Energy— has not been able to complete its initial public offering as announced in its Intention To Float of 3 May 2017. However, in light of positive feedback from potential investors, the Company remains committed to obtaining a London listing and continues to explore its options.

Main Market Specialist Funds

Supermarket Income REIT– Up to £200m raise to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income. Due 21 July.

  
 
Breakfast buffet

EU Supply (LON:EUSP) 17p £11.5m

“The e-procurement software provider, is pleased to announce that it has entered into a contract with the Norwegian Government Agency for Financial Management (the "Customer") for the use of its CTMTM platform. In addition, the contract allows over 200 other Norwegian state controlled entities/operations to use the platform via the Customer. The contract is expected to generate total revenues of, in aggregate, more than £50k over 3 years, including licenses and support and implementation. Furthermore, as announced in the Company's AGM statement on 30 May 2017, the Group continues to see increasing activity in certain European e-Procurement markets where there is currently a low adoption rate, such as Norway.” FYDec17E rev £4.3m and £0.15m loss.

City of London Group (LON:CIN) 4p £1.47m

FY Jul 17 results from the investment company focused on providing finance to the SME sector, including professional service firms.   CAML to be retained, following strategic review. CAML's results improve substantially with an operating profit before shareholder capital charges of £171k (2016: operating loss before shareholder capital charges of £217k). CAML's own book portfolio £13.8m at year end (2016: £13.7m).  Loss before tax £1.2m (2016: loss before tax £6.8m after losses of £7.2m relating to TFPL and a profit of £1.4m on the sale of Therium).  Consolidated NAV per share attributable to shareholders 3p (2016: 6p).

Jaywing (LON:JWNG) 37p £32.15m

FY Mar 17 results from  the data driven, insight and creative agency. Two strategically important acquisitions, the formation of a Marketing Technology division and an international footprint. Strong cash generation, with net debt reduced by £1.79m and now represents 0.7x EBITDA (2016: 1.2x). Adjusted EBITDA up 12% to £4.86m (2016: £4.33m). Reported loss after tax £2.98m (2016: £0.70m profit) incurred after £2.90m of goodwill impairment charges and £1.11m of costs relating to acquisitions. “We have had a good start to the year in new business, particularly in Epiphany, and cross selling more widely, and the Australian business is growing ahead of the UK. We are however seeing some delay and caution in spend for a small number of clients, but overall we feel optimistic for the year ahead. “FYMar18E rev £42.6m, PBT £4.8m.

CityFibre Infrastructure (LON:CITY) 60.5p £160.73m

The designer, builder, owner and operator of fibre optic infrastructure in UK towns and cities, today announces that it intends to raise minimum gross proceeds of £185 million at 55 pence per share, fully underwritten by a consortium. Intends to raise further proceeds through an accelerated bookbuilding process  and further gross proceeds of up to £15 million through a non-underwritten offer for subscription. Proceeds will be used to fund the growth of the Company's full fibre network in the UK including a £29m acquisition of Entanet International Limited, a provider of wholesale communications services which turned over £35.74m in 2016 and made operating profit of £0.7m.

SolGold (LON:SOLG) 39p £590m

Update on the drilling progress of current Holes 23R-D1R, 24-D1R, 26, and 27 at Cascabel, the Company's copper-gold porphyry project in Ecuador. 

Current drill holes 23R-D1 (Rig 1 Alpala Central), 24-D1R (Rig 3 Alpala Southeast), 26 (Rig 4 Alpala Northwest) and 27 (Rig 2 Hematite Hill) all intersect mineralised diorite porphyry as drilling continues to grow the known Alpala copper-gold deposit.

 

Rig 5 has been mobilised to site. Rig 6 scheduled for arrival late July 2017.  Rigs 5 and 6 to expand on growing resource potential at Hematite Hill and Alpala Southeast.

Rig 7 scheduled for mobilisation in August 2017.

Booker Group (LON:BOK) 182.5p £3.3bn

Q1 t ate from the UK Food Wholesaler. “Group sales rose by 4.0% on the same period last year with like for likes up 4.2%. Non tobacco sales grew by 9.6% on a like-for-like basis. Favourable weather and the late Easter assisted this growth.  Tobacco sales continued to be adversely impacted by changes in tobacco legislation, down 7.9% like-for-like.” Merger with Tesco (announced Jan) still with competition authorities.

FAIRFX (LON:FFX) 63.5p £65.94m

HYJun17 trading update from the low cost multi-currency payments service. The Company achieved its first interim net profit since IPO, which was ahead of management expectations. Turnover for the first half was up 25.8% year on year to £433.8 million with broad-based growth. A combination of a more profitable business mix, leading to an improved gross margin, and cost benefits of rationalising the supply chain resulted in the profitable period. The sustained growth in the period was achieved despite the headwinds of the UK General Election, which weakened Sterling both before and after the result.

Edenville Energy (LON:EDL) 0.76p £8.4m

Notes recently drafted legislation in Tanzania concerning natural resources projects. The Company stressed that Edenville has recently gone through a comprehensive and complete permitting process for the Project with both state and local government organisations, along with the local community, and has received widespread support to develop the Project to provide both energy and employment opportunities to the people of Tanzania. Closely monitoring the situation. 

BlueRock Diamonds (LON:BRD) 3.13p £2.12m

Production update: not only have the Company's daily production levels increased significantly but it is now achieving these levels consistently and approaching Kareevlei's monthly target of 25,000 tonnes.  Production in June: 14,427 tonnes vs 9,769 in May. Average grade recovered in June remained below long term expectations with the average for 2017 at around 1.60 cpht.  Nevertheless, the Company continues to find increasingly large diamonds and June parcel contained an 11.7 ct diamond, the largest that BlueRock has recovered to date. Over the next few months, the Company expects grades to improve as  it goes deeper in the pit.

SimiGon (LON:SIM) 20p £10.28m

The specialist on providing simulation training solutions, has successfully completed all systems delivery milestones and received the requisite client confirmations in relation to the $6.7 million contract announced on 24 June 2013. The successful collaboration with the customer has led to a more advanced training system being developed. The experience gained from this turnkey programme will be useful in marketing SIMbox training solution to other potential customers worldwide, extending SimiGon's market reach. FY Dec 17E Rev £6.03m, PBT £1.23, PE c.8.3x yield c. 2.6%.

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