Dish of the day
Shefa Yamin Standard (TLV:SEFA) minerals company focused on the exploration for precious stones in Northern Israel. Net Proceeds will be used to advance the Company's mining project. Market Cap £15m.
Fusion Antibodies — AIM (FAV) contract research organisation providing services to biopharmaceutical and diagnostics companies that are involved in the development of antibodies for therapeutic drug and diagnostic applications. Raising £5.5m at 82p plus £11m vendor sale. Mkt cap £18.1m
What’s cooking in the IPO kitchen?
AIM
Pelatro— The precision marketing software specialist. Due 19 Dec. Raising £3.8m new money plus £0.6m vendor sale. 62.5p. Mkt cap £15.2m. HYJun17 revenues increased to US$1.55m from US$0.2m and profit before tax increased to £1.0m from a small loss in the comparable period
Erris Resources plc—a mineral exploration and development company currently focused on two geographic areas. Offer TBC, expected 21 December 2017
CIP Merchant Capital—Closed ended investment Company. Sector focus oil & gas, healthcare, pharma, and real estate. Offer raising £55m with market cap of £55m. Due 21 Dec
Panthera Resources— The Company was established to act as a holding company for Indo Gold Limited, an unlisted Australian registered company. The Company aims to explore and develop gold assets in India and West Africa. Offer TBC, expected 20 Dec
Sumo Group—one of the UK's largest independent developers of AAA-rated video games providing both turnkey and co-development solutions, including initial concept and pre-production. Offer raising £78.15m at £1 with market cap of £145m. Due late Dec
Sirius Petroleum—RTO. Becoming an operating company in the Ororo Field in Nigeria. Raising £7.2m/ Mkt Cap £35.6m. Due 19 Dec.
Bushveld Minerals—RTO of Bushveld Vametco and therefore 78.8% of Strategic Minerals Corporation, the intermediate holding company that owns a 75 per cent. interest in the Vametco Vanadium Mine.
Eqtec—Company with access to a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity. Raising £1.6m. Mkt Cap £8.7m. Due 21 Dec.
Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £71m market cap. FYMar18E rev £241.5m and £7.19m PBT
Miriad Advertising—Global video advertising company incorporated in 2015 and is engaged in the development of native in-video advertising. 2016 rev £0.7m and £7.3m operating loss. Offer raising £26.2m with market cap of £63.2m. Expected 19 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 property portal provider. Expected valuation £200m to £250m.
Main Market Specialist Fund Segment
Sure Ventures –Raising up to £50m at £1. Focus on FinTech, IoT and Augmented/Virtual Reality. Due 22 Dec.
Tufton Oceanic Assets - intends to invest in a diversified portfolio of secondhand commercial sea-going vessels . Aiming to raise over $100m. Due 20 Dec
Main Market Premium Listing
GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.
Greensphere Capital -$500m raise. Aims to provide Shareholders with an attractive yield from a portfolio of sustainable infrastructure assets diversified by geographies and sectors and to realise long-term growth capital value. Due 20 Dec
Vivo Energy—The Africa-focused company, which operates around 1,800 Shell forecourts across 16 countries reported by City A.M. to be preparing for a London float next year
Breakfast buffet
Croma Security (LON:CSSG) 106.5p £10.64m
Croma Security Solutions Group PLC announced a very significant contract win. The contract with a major UK local authority is the largest the group has ever won. The 6 year contract for the provision of a range of security services is worth £27m in total.
"This contract award is extremely significant and is the largest that the Group has won to date. It is a testament to the unique offering that Croma Vigilant brings to the market. The ex-military ethos of the business is resonating strongly with both our clients and our staff; majoring on discipline, operational excellence and continuity. We are delighted with this award and its effect upon the Group's development. We look forward to updating the market further in the new calendar year."
We could see no forecasts.
Keras Resources (LON:KRS) 0.48p £10.43m
Keras Resources provided an update following an announcement published by Calidus Resources Limited. Calidus has announced a substantial increase in Mineral Resources and conversion of Inferred Mineral Resources to Indicated Mineral Resources at the Company's Warrawoona Gold Project located in the Pilbara of Western Australia.
The total Mineral Resource at the Warrawoona Project, reported and classified in accordance with the JORC Code (2012) is 10.5 Mt at a grade of 2.11 g/t gold (Au) and contains 712,000 ozs Au. This has triggered the milestone for the conversion of 241,250,000 Performance A Shares held by Keras in Calidus to ordinary shares in Calidus.
· Maiden Indicated Mineral Resource of 8.4 Mt at a grade of 2.01 g/t Au for 541,000 ozs Au
· Well-funded post the recent AU$10m capital raise
· Calidus has received Exploration Incentive Scheme Grant of A$140,000 to conduct deeper drilling at Klondyke
ULS Technology (LON:ULS) 147p £95.3m
ULS Technology the provider of online B2B platforms for the UK conveyancing and financial intermediary markets, announces the launch of a new conveyancing service developed for Metro Bank.
ULS has been awarded a three-year contract to provide the Bank's customers with conveyancing services, which have been tailored specifically to meet Metro Bank's requirements for customer service excellence.
"We are all delighted to have been awarded this agreement, under which we have built a tailored suite of conveyancing technology led services to support Metro Bank. We fully understand what the Bank has successfully been doing over the last seven years or so, and intend to directly help them to continue, if not better, the industry leading levels of service they have been offering to their borrowers since launch…”
FYMar18 revs of £30.2m, EBIT of £5.6m and dividend of 2.3p.
Fletcher King (LON:FLK) 65p £5.99
The provider of property services and advice throughout the UK announced Interim Results for the 6 months ended 31 October 2017.
Turnover decreased by 11% to £1.489m, PBT decreased by 9% to £148,000 with basic EPS decreasing by 8% to 1.26p per share. Dividends remained constant at 1p per share.
· Performance continues to be supported by steady and predictable revenue from asset management and fund management clients.
· Revenues from ratings appeals and valuations were lower than normal during the period but this was compensated by a good volume of property sales.
· The two SHIPS properties, in which the company co-invests and acts as adviser, are now on the market for letting following completion of refurbishment programs.
We could see no forecasts.
Echo Energy (LON: ECHO) 18.62p £63.26m
Echo Energy the South and Central American focused upstream gas company, announced that an admission document detailing the proposed farm-in to 50% interests in each of the Fracción C, Fracción D and Laguna De Los Capones concessions and to a 50% interest in the Tapi Aike exploration permit, each located onshore in Argentina has been published and posted to Shareholders.
The Acquisition will provide the Company with a material position in Argentina, with strong local gas prices, and a well-respected local strategic partner.
The Company has conditionally raised £6.4m, before expenses at 17.5p per Placing Share and also an Open Offer in January 2018 17.5p per Offer Share to raise up to £2m, before expenses.
Papua Mining (LON:PML) 1.25p £4.29m
“The gold and copper exploration company, is pleased to inform shareholders that it has, through its 100%-owned subsidiary BGM Investments Pty Ltd, recently applied for a new strategic and highly-prospective exploration licence (EPM26726) which lies close to its 100%-owned 'Lighthouse Gold Project' in Queensland, Australia. The award of the licence is subject to formal grant by the Queensland Department of Resources and Mines.”
Extensive historical workings abound up to 430m in length and 61m deep.
Proxama (LON:PROX) 0.02p £3.28m
Progress and strategy update. Has in place 4 revenue generating location intelligence products, meeting the KPI it set out in its Finals on 30 June. Now deploying these products via leading agencies and their clients across various sectors, including retail, telco and automotive, and helping them solve a number of challenges using location data, such as understanding whether their online media spend is driving actual store visits. Further to the KPIs which were reset in its Interim Results announcement released on 18 September 2017, the Company announces that it has gathered location data from over 6 million consumers, generating over 8 billion data points, exceeding its other two business KPIs (5 million and 5 billion respectively) and further increasing the value of the location intelligence products that it is selling in the market.
Kibo Mining (LON:KIBO) 4.75p £18.77m
The “multi-asset African focused energy and resource company, announced that the newly formed Tanzania Ministry for Energy has committed to an indicative timeline for the completion of the MOU for the fast-tracking of the Mbeya Coal to Power Project ('MCPP').” Full support for the MCPP: focus on signing MOU with TANESCO within the next 10 to 12 working days; and agreeing a final Power Purchase Agreement during Q1 2018.
AudioBoom (LON:BOOM) 2.68p £24.9m
Year end update rom the spoken-word audio on-demand platform. Revenues for the 12 months to 30 November 2017 are expected to exceed £4.8m (consensus £5.5m), an increase of more than 250% compared to last year (30 Nov 2016: £1.3m). Certain revenues which were expected to fall into Q4 2016/17 will now be reflected in Q1 2017/18 due to the precise timing of campaigns and bookings, with advanced bookings for Q1 2017/18 being ahead of management's expectations. Underlying EBITDA, is expected to be £4.5m loss (2016: £4.6m loss). Monthly unique users: 89.1 million as at 30 November 2017, compared to 58.6 million as at 30 November 2016, an increase of over 50%.FYNov18E rev £15m and £1m loss.
FY Jun 17 results from the international gaming solutions and services provider. Revenue growth of 124% to £13.3m (2016: £5.9m). Recruited 130,105 new First Time Depositing Players (FTDs) (2016: 49,176). Adjusted EBITDA loss of £3.4m (2016: £5.7m) and an operating loss for the year of £4.6m (2016: £8.3m).
Placing also announced today at 21p of £1.8m. Post year end opened a further 19 casinos taking the total to 94 from 52 partners.