What’s cooking in the IPO kitchen?
AIM
Novacyt S.A.—Sch1 from the international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a value of £22.4m. Expected 01 Nov.
Footasylum Ltd—UK-based fashion retailer focusing on the branded footwear and apparel markets announced its intention to seek admission to AIM. Expected value between £130m and £150m. Due Nov 2017.
Totally (TLY) - Sch 1 for £11m RTO of Vocare, a provider of integrated urgent care services to the NHS throughout the UK. £76.8 million rev in the year ended 31 March 2017. Totally to address Care Quality Commission concerns. Due 24 Oct.
Central Asia Metals (CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec.
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 propert portal provider. Expected valuation £200m to £250m
Breakfast buffet
Oncimmune Holdings (LON:ONC) 125p £62.5m
The early cancer detection company developing and commercialising its proprietary EarlyCDT® platform technology, announced it has signed an exclusive agreement for distribution of its EarlyCDT®-Lung test in Poland with SmartGene, a Polish In Vitro Diagnostic (IVD) distribution company with almost 20 years of experience in laboratory and molecular diagnostics & life sciences.
The agreement allows for the sale of the CE marked EarlyCDT®-Lung kit as a screening test and for the risk assessment of indeterminate pulmonary nodules. The agreement is for an initial term of three years and includes minimum sales commitments of £0.9m over the term of the contract. First sales are expected to commence in early 2018.
Ubisense (LON:UBI) 34.5p £19.56
The enterprise location intelligence solutions provider, announced a new contract win in Europe for its RTLS SmartSpace division. The contract, valued at over £1m, is with a premium automotive manufacturer located in Germany for the company's well established real time location products.
This new order will significantly expand Ubisense's deployment of its solution at an existing manufacturing location, doubling the scale of the deployment to become one of the largest in the world for Ubisense solutions.
This win provides another solid contribution to the revenues generated from Ubisense's own products underpinning the board's expectations for the business.
The Company also announced a placing of £5.5m at 32p, net proceeds will be used to support growth plans and strengthen the financial position of the Company
Ncondezi Energy (LON:NCCL) 6.12p £14.08m
The Company announced that it has conditionally raised a total of £0.75m before expenses through an oversubscribed placing of 15,000,000 ordinary shares in the Company at a price of 5p per Ordinary Share. The Company will use the funds raised by the Placing to cover non project corporate costs until the end of August 2018, before the maturity of the Shareholder Loan, and to secure the Company's position as it finalises the exclusivity arrangement with its proposed partner.
Application will be made for the admission of the new Ordinary Shares to trading on AIM, with Admission expected to take place on or around 23 October 2017. Completion of the Placing is conditional upon, inter alia, Admission taking place.
"Funds raised from the placing safeguards the Company's immediate financing needs to complete the new partner process and enter into binding negotiations, and ensures that the company is adequately capitalised until the end of August 2018."
Be Heard Group (LON:BHRD) 3.15p £25m
The digital marketing services group, announced that it has been selected by Addison Lee to help drive the business' expansion in the UK. Be Heard's digital media and analytics agency agenda21 has been appointed lead digital marketing agency, effective immediately.
agenda21 guides brands through the complex competitor landscape to figure out where digital marketing can give them a competitive advantage on their journey. Their services help a range of clients discover what could be simply more effective through smarter use of complex data, search and digital media using rigorously and market-leading methodical forensic analysis technology.
"We are delighted to have won Addison Lee. Their clear ambition and understanding of the role of media, data and technology makes them the ideal client for agenda21."
Proteome Sciences (LON:PRM) 3p £9.58m
The Company announced the receipt of Good Clinical Laboratory Practice (GCLP) accreditation which will now enable it to compete effectively for clinical stage contracts commanding routinely larger budgets; the benefits of this should start being reflected early in 2018.
The Company continues to make solid progress but has experienced slower adoption of its established proteomic services than previously hoped; converting general client interest into firm project commitments and recognised revenues is taking time. While significant revenue growth and a reduced loss are expected in comparison with 2016, this revenue growth is predicted to be less than originally anticipated in 2017 with a corresponding impact on the loss for the year. Customer engagement and the growth of service-based revenues remains central to the Company's strategy and, with evidence of the predicted stronger second half, there is continued belief in the validity of this approach.
Atlantis Resources (LON:ARL) 42p £51.64m
The marine power generation sector provider, provided an operational update for Phase 1A of the MeyGen project in the Pentland Firth. Total production has now surpassed 2.6GWh with over 800MWh of predictable energy dispatched to grid during the month of September.
The Atlantis supplied 1.5MW AR1500 turbine has been successfully reinstalled over the weekend and has commenced its commissioning procedures. With the reinstallation of the fourth and final turbine, MeyGen Phase 1A will now be capable of operating at its full 6 MW capacity generating full ROC and power revenues.
With this latest achievement, all four Phase 1A turbines now have been successfully reconnected to the grid. Following final completion testing, MeyGen Phase 1A is expected to formally complete its construction phase and enter into its 25-year operational phase within the coming weeks.
Sprue Aegis (LON:SPRP) 200p £91.71m
The developers and suppliers of home safety products, announced the launch this week of its national Check the Date campaign to raise awareness of the recommendation by the UK Fire and Rescue services to replace all smoke alarms after ten years. The Check the Date campaign aims to educate home owners and landlords of the need to check and replace their smoke alarms after ten years.
The Check the Date campaign coincides with National Burns Awareness Day and is being promoted across numerous social media platforms to maximise its impact.
"The Check the Date campaign is important to remind people to replace out of date smoke alarms and keep people safe in their homes. This campaign has a very simple but very important message."
Purplebricks Group (LON:PURP) 347.75p £951.81m
The ASA has issued its conclusion on two issues relating to the Purplebricks TV adverts in the UK. The first issue, whether the TV adverts implied that Purplebricks did not charge a fee for its service, was dismissed by the ASA. On the second issue, the ASA agreed that it was not sufficiently clear in the TV adverts for the average consumer, that the flat fee was payable to Purplebricks in all instances.
Purplebricks has already updated its UK TV adverts to make this even clearer. The new wording has been approved by Clearcast. While the new text has only been aired for a couple of days, there has been no noticeable impact on the business.
Purplebricks would like to make clear that it now has a proactive, regular and positive dialogue with the ASA and all other relevant professional bodies. The TV adverts followed the proper approvals process, being cleared by industry body Clearcast who, unlike the ASA, have the role of giving prior approval to TV adverts. No issues were raised.
Providence Resources (LON:PVR) 6.62p £39.59m
The Irish based Oil and Gas Exploration Company, provided an update on Licensing Option ("LO") 16/27. Providence is confirmed that the agreed farm-in by TOTAL E&P Ireland B.V. has now completed.
In June 2017, Providence announced that Providence and Sosina Exploration Limited had signed a Farm-in Agreement ("FIA") with TOTAL whereby TOTAL will take a 50% working interest and Operatorship in LO 16/27, subject to Ministerial approval. Under the terms of the FIA, TOTAL:
· Pays its pro-rata share of past gross costs of c. $0.175m
· In addition to its pro-rata share, pays 21.4% of the past and future costs during the 2-year term of LO 16/27, subject to a gross cost cap of $1.33m
· In the event that the JV partners agree to convert LO 16/27 into a Frontier Exploration Licence, and a subsequent decision is taken to drill an exploration well, TOTAL will pay 60% of the drilling costs, subject to a gross well cap of $42m
With the farm-in now completed, the revised equity in LO 16/27 is TOTAL (Operator - 50%), Providence (40%) and Sosina (10%).
Tissue Regenix (LON:TRX) 9.75p £113.2m
The Board of Tissue Regenix announced that Antony Odell, Chief Executive Officer (CEO), will be stepping down from his role and position on the Board with immediate effect. The Board will commence a process for appointment of a new CEO. In the interim, John Samuel, Non- Executive Chairman has assumed the role of Executive Chairman.
"The Board of Directors and I would like to thank Antony for his dedication and commitment to Tissue Regenix since he was appointed CEO in 2008. He has been a key member of the executive team. During his tenure the Company has listed on the AIM market, successfully commercialised products in the US and earlier this year completed the transformational acquisition of CellRight, while continuing to pursue additional commercial opportunities. We wish him every success in his future career."
The integration of CellRight continues as planned and current trading remains in line with Board expectations.