Breakfast News - AIM Breakfast : CloudCall, Eve Sleep Plc, Forbidden Technologies plc, Manx Telecom, Miton Group PLC, MaxCyte, Next Fifteen Communications Group, Oracle Coalfields Plc, Venture Life Group


What’s cooking in the IPO kitchen?


Arena Events Group -provider of temporary physical structures, seating, ice rinks, furniture and interiors. Raising £60m. Mkt cap £63m. Expected on the Chef’s birthday. 25th July.

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—£35m vendor sale. Mkt cap £70.5m. Provider of essential infrastructure services to the UK housebuilding and commercial sectors. Expected 11 July. FYSep16 rev £135.7m.

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. 



Brunch buffet

Miton Group PLC (LON:MGR) 41p £66.64m

Miton Group, the fund management group, announced a trading update for it HY June 2017. The Group had a solid start to the year consistent with the Group’s outlook for 2017. Assets under Management were up 15.4% to £3,3bn compared to the start of the year. The Group had cash balances of £18.2m, up 4.5% for the same period last year. The Group continued to expand their fund range with the launch of the CF Miton Global Infrastructure Income Fund on 23 March 2017. 12 out of 15 funds are first or second quartile performers since manager tenure to 20 June 2017. The Group also conducted some Corporate activity during the period with the Group’s £2.6m share buyback programme, which was completed on 23 February 2017

Venture Life Group (LON:VLG) 69.50p £23.02m

The Company focused on developing, manufacturing and commercialising products for the ageing population provided a trading update for H1 2017. Unaudited revenues were 28% higher compared to the same period last year at £7.8, which on a like for like basis (including a full 6 months of Periproducts revenues for H1 2016) this is growth of 18% over H1 2016. Moreover, Periproducts (UltraDEX UK) recorded its highest month of revenue in June for at least the last 5 years. In addition, it was a record month in Biokosmes as it recorded its largest ever revenue for a single month in June. Consensus forecasts show the Company are expected to do £16.7m in revs for 2017  with an EBIT of £1.25m.

Next Fifteen Communications (LON:NFC) 410p £301.83m

The digital communications group announced the acquisition of Circle Research Limited, a B2B market research consultancy through it data and insights subsidiary MIG Global limited. The initial consideration for the acquisition is £5.21 million and is comprised of £3.01 million as an up-front payment for the business and £2.20 million for the net assets acquired. Of the total initial consideration, £4.94 million is to be satisfied in cash with the balance to be satisfied by the issue to the vendors of 67,360 new ordinary shares in Next 15. Further consideration may become payable based on the profits of Circle for the years ending 31 January 2019 and 31 January 2020.  For the year ended 31 March 2017, Circle reported revs of £2.24m and an adjusted PBT of £1.01m with net assets of £2.23m.

Forbidden Technologies (LON:FBT) 5.38p £9.02m

The Company that develops, markets and licenses a cloud video platform with multiple applications announced ta paid for pilot for its Forscene video platform with a major North American broadcaster and sports rights holder. The Forscene cloud video platform will provide a virtualised workflow and remote collaborative access to producers, editors and clients, enabling them to view and create selections and rough cuts prior to a final editing process. In addition, Forscene will facilitate a rigorous shot logging process for the work groups.

Eddie Stobart (LON:ESL) 158.50p £563.72m

The Company focused logistics working across the full supply chain in the UK and Europe provided a trading update for H1 2017. Sales for the H1 2017 grew by 13% to approximately £287m, with operational efficiencies improving the growth rate at an EBIT level. EBIT margins modestly expanded year on year.  H2 of the financial year has commenced well despite the challenges for the logistics sector due to the current political and economic environment. The second half is traditionally the Group's stronger period for sales and margins as it includes the peak trading periods for customers in the retail, consumer and e-commerce sectors. In addition, the second half will benefit from a full six months' contribution from the iForce business.

Oracle Power (LON:ORCP) 2.5p £22.79m

The energy developer of a combined lignite coal mine and mine mouth power plant located in the Thar desert announced the appointment of Mr Mark Steed to its Board of Directors as a NED. Mr Steed's appointment is intended to strengthen the Company's Board for its next stage of development and project delivery of Block VI, Thar Coalfield, Sindh, Pakistan, as well as to increase the Company's access to a wider international investor base, and to identify new diversification opportunities for Oracle to deliver early cash flows. 

Manx Telecom (LON:MANX) 192p £216.27m

The communications solutions provider on the Isle of Man announced that it is prioritising further investment in fibre optic cabling and the latest broadband technology that will bring new download speeds of 1Gigabit per second to selected homes and businesses across the Island later this year.  The initial roll-out will begin during H2 2017 to 77 locations covering key business districts and industrial estates. The project will also see the improvement of the Company's current superfast fibre broadband (VDSL+) service, increasing speeds from 80Mgbps to up to 100 Mgbps and the launch of a new faster service, providing download speeds of up to 200Mgbps. Consensus forecasts show sales for £81.8m and a pre-tax profit of £12m for FY 2017.

MaxCyte (LON:MXCT) 242.5p £137.06m

The Company dedicated to driving acceleration of the discovery, development, manufacturing and commercialisation of next-generation, cell-based medicines  provided an updated on trading for six months ended 30 June 2017. The Company reported revs for H1 2017 of $6.2m, a 13.5% increase from the same period last year. The progress of the underlying business has been robust, the commercial license agreement with CRISPR Therapeutics and investment in the commercial platform have been a core focus for the period. With these in place, MaxCyte remains strongly positioned for continued growth.

CloudCall (LON:CALL) 108.5p  £20.56m

The cloud-based software business that integrates communications into CRM platforms provided a trading update HY June 2017. The Company reported that is continues to trade in line with market expectations and has witnessed strong demand for it products and services from both new and existing customers. This resulted in record levels of new user additions in the period taking the total number users to 20,200, up 25% since 31 December 2016. Revs increased by 40% to £3.2m, with recurring revs up 61% compared to same period last year.

eve Sleep (LON:EVE) 95p £130.74m

The e-commerce focused D2C European sleep brand provided a trading update for HY June 2017. Revenue for the period increased by 126% to £11.5m (H1 FY16: £5.1m) with strong e-commerce led performances across all territories. UK revenue grew 107% to £6.3m (H1 FY16: £3.0m) with combined revenue from all other countries in which eve operates increasing by 153% to £5.2m (H1 FY16: £2.1m).  The Company remains on-course to meet the board's expectations for the current financial year.

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