Breakfast News - AIM Breakfast : Allergy Therapeutics plc, Connemara Mining, Empyrean Energy Plc., Keywords Studios PLC, LightwaveRF, MySQUAR Limited, Oxford Metrics, Sareum Holdings Plc, StatPro Group PLC, Tristel Plc


What’s cooking in the IPO kitchen?


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. 

Breakfast buffet

Sareum Holdings* (LON:SAR) 0.95p £27.77m

The specialist cancer drug discovery and development company, announced its final results for the year ended 30 June 2017.

· Lead cancer drug candidate SRA737, a novel Chk1 inhibitor, licensed for clinical development and commercialisation to NASDAQ-listed company Sierra Oncology, Inc. by Sareum's co-investment partner, CRT Pioneer Fund

· Sareum is eligible to receive 27.5% of up to $328.5m in upfront, development and commercialisation milestone payments as well as royalties on sales.

· An upfront payment of $7m and a first milestone payment of $2m have already been received from Sierra Oncology

· Patents protecting SRA737 were granted in the USA and Europe, extending the protection period to 2033 in the USA.

· Successful outcome from feasibility study with TYK2 inhibitors in T-Cell Acute Lymphoblastic Leukaemia. In disease models, Sareum's compounds demonstrated good oral bioavailability, were well tolerated and showed tumour reduction of up to 80%.

· Further patent grants for Aurora+FLT3 kinase programme in Japan, Singapore, China, and Hong Kong.

· Maiden profit on ordinary activities of £0.4m (2016: loss of £1.05m).

· Net assets at period end were £2.34m (2016: £1.86m), of which £2.31m comprised cash at bank (2016: £1.25m).

Allergy Therapeutics (LON:AGY) 37.5p £222m

The fully integrated specialty pharmaceutical group specialising in allergy vaccines, announced that dosing has commenced in its G205 Phase II study designed to evaluate the dose-response and safety of its ultra-short course, aluminium free PQ Grass immunotherapy to address the cause of symptoms of allergic rhinoconjunctivitis due to grass pollen.

The study is anticipated to run for one year and involve approximately 440 patients in more than 50 sites across Germany, Austria and Poland.  The trial is designed to identify the optimal efficacious cumulative dose using conjunctival provocation testing. This type of challenge testing has recently been used in studies for a similar subcutaneous birch pollen product resulting in selection and approval of dose for use in a current phase III study. The results of the G205 trial are expected in H2 2018. Following completion of this trial, meetings with the regulatory authorities in the US and Germany will be necessary to enable Phase III trial design.

Empyrean Energy (LON:EME) 22.25p £88.28m

The oil and gas development company with interests in China, Indonesia and the United States, announced that it has been informed by Sacgasco Limited, the operator of the Dempsey 1-15 well in the Sacramento Basin, onshore California, that Paul Graham Drilling Rig 3 and associated equipment has moved onto the Dempsey 1-15 well location to carry out the planned and previously announced completion and testing program.

On the way to the Dempsey site the rig undertook a successful re-completion of one of the adjacent JV-owned producing wells at the Rancho Capay Gas Field.

"Empyrean is delighted that most of the preparations are now complete and that testing at the Dempsey 1-15 well is to commence shortly.  There were multiple interesting zones that gave gas shows whilst drilling.  The deepest of these zones will be tested first and we look forward to providing further updates as the testing program unfolds."

MySQUAR (LON:MYSQ) 2.18p £12.47m

The Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, announced it has signed a Memorandum of Understanding to enter into a partnership with other service providers for the financing and delivery of Wi-Fi services and digital content on the Myanmar Railways.  Digital content such as video games and chat platforms, advertisements and internet access are also included.

Revenue is anticipated to be generated from advertising and from telecoms through direct carrier billing from video games and streaming content.  There will be a revenue share agreement between the Partnership and Myanmar Railways, which will be net of all operating and administrative fees necessary for the deployment of this network.

StatPro Group (LON:SOG) 151p £97.72m

The cloud-based portfolio analysis and asset pricing services provider for the global asset management industry, provides a trading update for the nine months ended 30 September 2017.

Revenue and profits continue to be in line with the Board's expectations for the current year.

In the 12 months to 30 September 2017, Group Annualised Recurring Revenue ("ARR"), increased by 40% to £52.9m(September 2016: £37.9m at constant currency), which includes the addition of ARR for Delta, the cloud-based risk and performance analytics service, acquired in May 2017.

The percentage of Group ARR that is Software as a Service has continued to increase to 83% (September 2016: 75% at constant currency).

Keywords Studios (LON:KWS) 1,381p £773.08m

The international technical services provider to the global video games industry, announced that it has acquired d3t ltd, for a total consideration of £3m from the founders.

Based in the North West of England, between Liverpool and Manchester, d3t delivers premium quality outsourced software development services for video game developers and publishers internationally.

The acquisition of d3t is in line with Keywords Studios' strategy to grow organically and by acquisition as it selectively consolidates the highly fragmented market for video game services.  d3t brings additional skills, client relationships and geographic reach to Keywords, extending the strength and scale of its recently established Engineering service line.

LightwaveRF (LON:LWRF) 19.25p £7.17m

The leading smart home solutions provider, announced that its next generation Apple HomeKit certified product range, for controlling smart devices with iOS apps and Siri voice commands, is now available to purchase via the Apple Online Store. The new range is expected to be placed on the display shelves of Apple UK stores next month and orders placed online can be collected in selected stores from now.

"It's fantastic to confirm that our Apple HomeKit certified products are now available via the Apple Online Store. With the Apple Home app, users can easily and securely control all Lightwave accessories.  This is a major new route to market for us and we are looking forward to extending our relationship with Apple as they expand the HomeKit programme."

Oxford Metrics (LON:OMG) 60.50p £72.29m

The international software company servicing government, life sciences, entertainment and engineering markets, provided the following update on trading for the financial year ended 30 September 2017.

The Group enjoyed a successful close to the financial year and expects to report both revenues and adjusted PBT slightly ahead of market expectations.

The Board is pleased to report the Group has made good progress during this first year of the Group's five-year growth plan and is on track to achieve the goals we stated in December 2016 to double profits and triple recurring revenue by 2021.

The cash balance for the year closed at £9.8m (FY16: £8.3m).

Tristel (LON:TSTL) 287.5p £126.07m

The manufacturer of infection prevention and contamination control products, announced the appointment of Tom Jenkins to the Board as a non-executive director.

Tom qualified as a chartered accountant with Arthur Anderson in 1998 and has 16 years' experience supporting ambitious growing businesses. He worked in corporate finance at Dresdner Kleinwort Benson and Bear Stearns before moving into broking, where for six years he was head of equity capital markets at finnCap and a board member. In 2015, he joined BGF as an investor in their quoted team.

"We are delighted to welcome Tom to the Board. He brings a wealth of public company experience which will be invaluable in helping us achieve our ambitions. We very much look forward to working with him."

Connemara (LON:CON) 3.72p £2.79m

The Company announced the acquisition of 100% of Hendrick Resources ("HRI").  Connemara has acquired 100% control of 12 existing HRI prospecting licences in Ireland for a royalty agreement comprising a 2%. Net Smelter Return on future production.  In addition, the 5 Connemara prospecting licences in joint venture with HRI have been returned to Connemara. Though the primary focus is gold, lithium pegmatite targets are being developed adjacent to the western margin of the block and Connemara is reviewing potential targets within the expanded block.

"We are pleased to acquire HRI, a company created by the late Dale Hendrick, a legendary figure in gold exploration.  All 17 licences acquired are focused on the gold in the Wicklow/ Wexford area.  The acquisition has increased the strike length of the primary gold target in Wicklow from around 5kms to 15kms.”

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