What’s cooking in the IPO kitchen?
AIM
appScatter Group—Sch1 from the B2BSaaS platform that allows its paying users to distribute their apps to, and manage their apps on, multiple app stores. Following admission, appScatter intends to launch the public version of the platform, at which point the platform will be available to all app developers and publishers worldwide. Offer TBC, expected early Sept 2017
Warehouse REIT - The Company will invest in a diversified portfolio of UK warehouse assets located in urban areas. The Company is targeting a dividend yield of 5.5p equivalent to a yield of 5.5 per cent. for the year ending 31 March 2019. Issue price 100p. Raising up to £150m.
Destiny Pharma—A clinical stage biotechnology company - lead asset (XF-73) targets antibiotic-resistant bacterial infections in hospitals. Offer TBA. Due early September.
Avingtrans (LON:AVG) Sch1 on its Reverse Takeover of Hayward Tyler (LON:HAYT). Combined market cap of c.£75m. Expected 01 September 2017
OnTheMarket—Intention to float on AIM to raise c. £50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.
Main Market Standard Listing
Chesterfield Resources-newly established company formed for the purpose of acquiring a company, business or asset that has operations in the mining sector that it will then look to develop and expand. Raising £1.3m at 5p. Due 29 Aug. Mkt cap £1.4m.
Main Market Premium Listing
Hipgnosis Songs Fund investment Company offering pure-play exposure to Songs and associated musical intellectual property rights. Offer raising £200m at 100p. The Company has decided to extend the closing date for the Placing, Offer for Subscription and Intermediaries Offer to 1 August 2017. The Company may bring forward this closing date at any time. Admission 15 September 2017
Breakfast buffet
PowerHouse Energy Group (LON:PHE) 1.17p £11.3m
The company focused on ultra high temperature gasification, waste-to-hydrogen, waste-to-energy, and the creator of Distributed Modular Gasification (DMG)©, announced the appointment of Dr Cameron Davies as Non-Executive Chairman of the Company and the successful completion of an oversubscribed £1.6 million placing and direct subscription (at 1p) to finance the next phases of engineering and commercial development activities. Keith Allaun, currently Executive Chairman, will transition to CEO to lead the commercial development of the business, and will remain a member of the Board of Directors. It is expected that the transition will occur upon Dr Davies joining the Company on or about 1 October 2017. Dr Davies is a capable business leader who has successfully grown revenues and profits in a quoted alternative energy company, Alkane Energy.
Arian Silver (LON:AGQ) 0.55p £2.35m
The Mexico focused AIM quoted resource exploration and development company, has completed the first phase of its lithium auger drill programme across the Company’s three lithium projects in Zacatecas. This drill programme, conducted by OBD SA de CV (a leading drilling company based in Mexico City), focused on 28 holes, testing the anomalous lithium concentrations identified in the Company’s previous surface sampling, for increased grade and continuation.
The resulting 214 samples will be analysed by ALS Global.
Jim Williams, Chief Executive of Arian, commented: “The drill programme progressed well despite initial delays caused by unseasonably wet weather, which impacted ground conditions for drilling. The results of the programme should be available within three to four weeks and I look forward to reporting the results at that time.”
88 Energy (LON:88E) 1.9p £88.3m
Update on Project Icewine, located onshore North Slope of Alaska.
Highlights
· Flow testing on Icewine#2 to re-commence week beginning 28th August post six week shut-in
One week delay due to fine-tuning of testing procedure
· The Icewine#2 well was shut-in on 10th July for a six week period to allow for imbibition and pressure build up to occur within the HRZ shale. Flow testing is scheduled to re-commence week beginning 28th August. The one week delay to the scheduled program has resulted from minor fine-tuning of the testing procedure.
Additional technical analyses are ongoing and will be communicated once complete.
BlueRock Diamonds (LON:BRD) 1.5p £2.05m
Diamond Sales and Production Update. In August 2017, a parcel of 400.06 carats was sold at tender, achieving an average of $330 per carat. The diamonds produced and included in August's sales tender has resulted in a grade of 2.07 cpht showing an increase to Kareevlei's previous average diamond grade achieved during 2017 of 1.7cpht. As noted previously production has continued to improve with July's total production of 20,200 tonnes representing an increase of 40% on the production achieved in June 2017. The total tonnage for August is on target to exceed July's total. “We are on track to reaching our target production of 25,000 tonnes per month. Prices per carat continue to exceed expectations and recovery grades are beginning to improve. We are now well on our way to achieving profitable mining with the expected further improvement to grades as we begin processing the sub 20 metre level kimberlite in September."
Sopheon (LON:SPE) 378.5p £28.2m
The international provider of software and services that improve the return from innovation and new product development investments, announced HYJun17 results. Rev: $12.5m (2016: $11.5m) EBITDA (adjusted): $3.0m (2016:$2.7m).
Profit before tax (adjusted): $1.8m (2016 : $1.4m). 28 license transactions were closed in the period vs 20 for the same period last year. Revenue visibility for full-year 2017 now at $20.3m, compared to $18.4m at this time last year. Market activity with and inquiries from leading industry voices Gartner and Forrester have increased materially year on year. Sopheon investment in extending the use of Accolade to enterprise-wide digital automation gains momentum. Two product releases since the start of the year, including a market first with landmark knowledge discovery and insights features are expected to contribute to growth. FYDec17E rev £20.34m and PBT £2.24m.
CPP Group (LON:CPP) 13.25p £113.48m
HYJun17 results from the innovative product marketing business. Group revenue increased by 18% to £41.8 million. “Reported operating profit increased 2% to £2.7 million (H1 2016: £2.6 million). However, underlying operating profit reduced 42% to £2.1 million (H1 2016: £3.6 million) with the growth from an increasing international customer base not yet covering the decline in the higher margin UK renewal book. In the international business we expect to see continued significant growth in revenues, led by India where we also expect the percentage margin to materially increase as higher margin products enter the mix “ Profit after tax increased 15% to £2.6 million. Unrestricted cash position improved significantly to £29.6 million (H1 2016: £7.8 million) following approval from the PRA to lift the capital and asset restrictions on Homecare Insurance Limited and the receipt of the proceeds from the sale of the York Head Office premises.
Scientific Digital Imaging (LON:SDI) 26.5p £23.1m
The Group focused on the design and manufacture of scientific and technology products for use by the life science, healthcare, astronomy, consumer manufacturing and art conservation markets, has acquired Applied Thermal Control Limited for an initial consideration of £686,000, with the total consideration (including earn-out) capped at £1.2 million, plus an additional cash payment for net assets at completion. ATC designs and manufactures precision re-circulating chillers, coolers and heat exchangers . For the year ended 31 December 2016, ATC achieved revenue of £1.20 million, gross profit of £755,000 and profit before tax of £129,000. Expected to be earnings enhancing in its first full year of ownership." FYApr18E rev £12.8m and PBT £1.89m. PE c.14x.
Integumen (LON:SKIN) 2.62p £4.35m
The personal health care company developing and commercialising technology and products for the human integumentary system, has updated on its patents and trademarks. Integumen has received: a Notice of Allowance for the trademark "Clarogel" in the United States of America, an anti-microbial formulation of usnic acid which is a late stage product designed for blemish control. Since it has received the NOA, Integumen intends to apply for the trademark registration of Clarogel in the US with immediate effect; a NOA for its base Visible Youth patent in Canada, for the cosmetic composition for the treatment of skin. These compositions include the combination of Hyaluronic acid and bioactive glass powder which form the basis of Integumen's line of Visible Youth products, a range of cosmeceuticals targeting the anti-ageing market; a patent in the United States for the manufacture and sale of TS1, a tongue vacuum cleaner. No forecasts.
MetalNRG (AQSE:MNRG) 1.5p £2.1m
The natural resource investing company has added additional cobalt prospective ground to augment the original licence applications announced on 29 June 2017. The additional ground will form a new project area to be named Palomino North, and materially increases the area under licence application. The Company continues to examine, with its partners, additional cobalt opportunities in the area and therefore for commercial sensitivity reasons has limited the specific licence information revealed in this announcement. Further information will follow at the appropriate time. Licence areas included have been selected utilising historic work undertaken on the properties which has demonstrated cobalt prospectivity notably through the identification of high grade stream sediment results.