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Breakfast News -AIM Breakfast : Polemos, Empyrean Energy, UK Oil & Gas Investments, Horizon Discovery,Starcom and others

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AIM:

Total number of AIM Companies (Incl Susp):

959*

Total number of AIM Companies trading:

919*

*as at close of business 7 September 2017

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

138*

Total number of Standard List Companies trading:

125*

*as at close of business 7 September 2017

NEX Growth Market:

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

84*

Total number of NEX Growth Market Companies trading:

80*               

*as at close of business 7 September2017


 
*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly  operational activity

What’s cooking in the IPO kitchen?

AIM

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 percent. for the year ending 31 March 2019. Issue price 100p. Offer TBA. Due 20 Sep

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 Premium Listing

People’s Investment Trust—Objective of sustainable wealth creation. Also to list on the Social Stock Exchange. Targeting £125m raise on 17 Oct. No performance fees or executive bonuses in order to focus on long term rather than short term performance.

Charter Court Financial Services Group—Intention to float. Specialist lender serving the UK residential mortgage market. The net mortgage loan book stood at £4.4 billion as at 30 June 2017 growing at a compound annual growth rate of 92 percent since 31 December 2014.  Part vendor sale and £20m primary raise.

ContourGlobal LP—Report on Bloomberg that the thermal energy power generator is considering a London 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

Empyrean Energy (LON:EME) 18.12p £52.91m

Most Significant Gas Shows to Date at Dempsey 1-15 Well.

•     Drilled through hard siltstone/shale section into a primary gas bearing sand

•     Drilling ahead below 2,760 m (~9050 feet) to evaluate remaining conventional sandstone reservoir targets in next approximately 440 m (~1,400 feet) of drilling

•     Dempsey is testing the largest undrilled structure in northeastern Sacramento Basin. After penetrating a thick section of hard shales and siltstones, drilling yesterday has intersected a potential sandstone reservoir with high gas shows.  These have occurred even though the drilling mud weight has been further increased to control the levels of background gas for safe drilling. Shareholders and investors are advised that the significance of these shows will become more apparent when the next wireline logs are run to more fully evaluate the intersected gas shows and reservoirs.  This is planned after reaching the proposed total drilling depth of approximately 3,200m

Polemos (PLMO.L) 0.02p £0.63m

Conditionally agreed to acquire SecurLinx Corp, A US based cyber security company  for £17.8m in shares and has agreed to advance a loan of $500k payable in 2 tranches. As the Acquisition would constitute a Reverse Takeover pursuant to AIM Rule 14, the Directors have requested that trading in the Company's shares be suspended with immediate effect. SecurLinx aims to become the leading technical and tactical provider of seamlessly integrated, affordable biometric identity management and access control systems that serve domestic and international healthcare markets and the private sector

The Company owns both patent pending technology and middleware protected by copyrights which are incorporated into its products. For the year ended 31 December 2016, SecurLinx reported a loss before tax of US$553,756.

UK Oil & Gas Investments (LON:UKOG) 8.38p £287.30m

Update on the PEDL 137 and PEDL 246 Horse Hill Licences. The Environment Agency has granted the necessary permits to enable HHDL to carry out extended flow tests at HH-1, store any produced oil, drill and test both a side-track from the existing HH-1 well and new borehole HH-2. The Company has a 32.435% interest in the Licences. As previously reported, an application for long term production testing and further appraisal drilling was submitted to Surrey County Council in October 2016 and is now confirmed to be decided at the Council's planning committee meeting on October 18th, 2017. Members of the planning committee completed a scheduled visit to the Horse Hill site yesterday, 7 September, in preparation for the October meeting.

 

The Company therefore envisages that these operations will commence in the fourth quarter of 2017 upon grant of the necessary remaining regulatory permissions.

Horizon Discovery (LON:HZD) 238p £354.4m

Trading update from the specialist in gene editing and gene modulation technologies.

The Group expects to report six month revenues of £12.1 million, in line with previous guidance, representing growth of at least 20%. Reported Group gross margins are expected to expand substantially to at least 60% (HY16: 48%), enhanced by significant improvement in service margins.

    On track to meet revenue guidance for the enlarged Group of £37-£41 million for FY2017, with strong H2 order book

• Delivery on scalability and path-to-profit strategy now accelerated through the transformational acquisition of GE Healthcare Dharmacon, Inc.

•     Consolidation of cell line manufacturing capability from Vienna, Austria to Centre of Excellence in Cambridge, UK

£80m placing in August.  FYDec17E rev £35.16m and PBT loss of £5.1m.

RedstoneConnect (LON:REDS) 125p £25.98m

The provider of technology and services for smart buildings and commercial spaces, announced an HY Jul 17 trading update. The Company is pleased with the progress made across the business in the first half, with trading in line with management expectations.

The Company's Software Applications division continues to gain market traction, as demonstrated by the contract wins secured in the period, which have helped deliver solid growth for this division in the first half of the year. In addition, the Company has commenced the global roll out of OneSpaceTM, its real estate management software platform, across UBM's offices following the extension of its existing contract in the period. The Company's Managed Services business has also had an encouraging start to the year. FYJan18 £49.9m rev and £2.3m PBT. C.13x PE.

Starcom (LON:STAR) 2.13p £5.2m

The specialist in the development of  wireless solutions for the remote tracking, monitoring and protection of a variety of assets, has reached a collaboration  agreeme­nt with a major European industrial group. This group has been seeking an appropriate Track and Trace technology for its new monitoring solution for the logistics and transportation industry. Its requirement was for a single solution for tracking land, maritime and air freight, as well as for other logistics operations.  An initial order of a thousand Kylos Air units for delivery in 2017 has been received. It is not possible at this stage to indicate the likely level of future orders but the arrangement is for an initial three years of collaboration and further sales can be expected provided Starcom meets the relevant specifications. FYDec17E rev £4.2,m and £0.4m PBT loss. 

Prospex Oil & Gas (LON:PXOG) 0.35p £1.60m

£650k placing at 0.35p to help fund the Company's share of the 2017 work programme at the Suceava Concession ('Suceava') in North East Romania.  This includes the drilling of the Bainet Prospect ('Bainet'), a shallow, gas target mapped on 3D seismic that has been assigned internal gross prospective resources of approximately 1.5bcf recoverable.  Bainet is one of several low cost / low risk exploration and development opportunities that have been identified at Suceava.  In addition, the funds will go towards the ongoing evaluation of a number of potential projects, in line with the Company's strategy to build a portfolio of investments in the European oil and gas sector, as well as general working capital purposes.  

Eve Sleep (LON:EVE) 81.50p £114.83m

The e-commerce focused, direct to consumer European sleep brand, today announced it has signed a major retail partnership agreement with Karstadt, one of Germany's leading department store chains, to be present in all 79 stores across Germany. As part of the exclusive Agreement, from the 1st November 2017 each Karstadt store will feature an eve retail space, showcasing the eve mattress, pillow and bed frame and allow customers to try out the products and then purchase either in store or online at www.evemattress.de or www.Karstadt.de. Once launched, eve's physical brand presence will span 143 stores across the UK and Germany following the recent expansion of the Company's Next Home agreement.  We could see no forecasts in the market.

 

Seeing Machines (LON:SEE) 3.13p £46.45m

The specialist in computer vision technologies which enable machines to see, understand and assist people,  has signed a new extended Partnership Agreement with Progress Rail Services Corp. Progress Rail, a Caterpillar company, is one of the largest integrated and diversified suppliers of railroad and transit system products and services worldwide. Since its acquisition of Electro-Motive Diesel (EMD), Progress Rail is the world's largest builder of diesel-electric locomotives for all commercial railroad applications including freight, intercity passenger, commuter, switching, industrial and mining. The Agreement provides exclusive worldwide licence rights to Progress Rail, for core rail applications under specific conditions, on a royalty basis incorporating minimum royalty revenue growth commitments. FYJun18E rev £27.9m and £13.6m loss.

NAHL Group (LON:NAHL) 123.25p £56.7m

The marketing and services business focused on the UK consumer legal market, has entered into new, increased banking facilities with Yorkshire Bank. The new Facility comprises a £25.0m Revolving Credit Facility ("RCF") which will be used to repay the current £9.4m Term Loan and replace the existing £5.0m RCF. The new Facility can be utilised for general business purposes, including working capital of the Group and the payment of dividends. The Facility will support the Group's long-term business strategy. The increased RCF meets the immediate needs of the Group as well as providing sufficient headroom to allow the business to invest for growth and to fund investment in cases in the Personal Injury division. The Facility has a final maturity date of 31 December 2021. FYDec17E rev £52.7m and £13.8m PBT. PE sub 6x.


  
  
    
  
Head Chef:

Derren Nathan

0203 764 2344

[email protected]

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