MOTIF BIO (LON:MTFB)
SECTOR – HEALTHCARE
RATING –BUY*
MARKET CAP – £94m
CURRENT PRICE – 36p#
ANALYST – VADIM ALEXANDRE
Year-end Dec 2015A 2016A 2017E 2018E
Revenue (£m) - -
EBITDA (£m) (5.7) (29.4)
Adj. pre-tax Profit (£m) (8.5) (29.9)
Adj. EPS (p) (13.9) (13.9)
DPS (p) - - Under review
Net Cash/(Debt) (£m) 24.8 26.0
P/E (x) - -
Dividend yield (%) - -
EV/EBITDA (x) - -
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Joint Broker to Motif Bio Plc and therefore this information should be viewed as a Marketing Communication.
From Friday: Appointment of Interim Chief Financial Officer
NORTHLAND VIEW
Robert Dickey IV has informed Motif Bio of his intention to resign as Chief Financial Officer (CFO). Jonathan E. Gold, currently a Non-executive Director of the Company, has agreed to serve as interim CFO. A search process for a new CFO has commenced and Robert Dickey IV will continue to serve in an advisory capacity to ensure a smooth transition.
Mr. Gold has a background of senior financial positions and is currently Managing Director of JEG Capital Partners LLC, a family office and asset manager. He previously was a portfolio manager for the Federated Kaufmann Funds. Prior to that, Mr. Gold was a partner in Amphion Capital and Wolfensohn Partners, where he was active in financing and building life sciences and technology companies.
Graham Lumsden, CEO, commented: "I would like to thank Rob for his contributions during his tenure at Motif and am grateful that he will remain available to Motif for a period of time to ensure a smooth and effective handover. I am delighted that Jon has agreed to take on the interim CFO position. He has a strong track record in managing financial organisations and successfully financing and growing life sciences companies. As a Motif co-founder and long-time Board member, Jon knows the Company well and will be a strong and reliable asset during this transition period."
COMPANY DESCRIPTION
Clinical stage biopharmaceutical company specialising in the development of novel antibiotics.
ACTIVE ENERGY GROUP (LON:AEG)
SECTOR – RENEWABLE ENERGY
RATING – CORP*
MARKET CAP – £35.1m
CURRENT PRICE – 3.7p#
ANALYST – MIKE JEREMY
Year-end Dec 2015 2016
Revenue (US$m) 24.38 19.20
EBITDA (adj) (US$m) (1.63) 1.27
Adj. pre-tax Profit (US$m) (0.65) (0.16)
Adj. EPS (US$c) (0.65) (0.16)
DPS ($c) - - No forecasts provided
Net Cash/(Debt) (US$m) (6.79) (5.52)
P/E (x) - -
Dividend yield (%) - -
EV/EBITDA (x) - 43.7
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited Acts as Nomad to Active Energy Group and therefore this information should be viewed as a Marketing Communication.
CoalSwitch™ Utah plant commercially-operational
NORTHLAND VIEW
Active Energy reports that its first commercial CoalSwitch™ plant, located in Utah, will be officially opened this week and will be fully-operational for the production of CoalSwitch™ biomass fuel. AEG notes this opportunity “to demonstrate, for the first time at full commercial scale, the Plant's capabilities to potential commercial partners, financiers', government representatives and officials.”
AEG adds: “The Group believes CoalSwitch™ represents a disruptive force in the global biomass industry. It is a unique, high-calorific, high-bulk density, advanced biomass pellet that behaves just like coal, albeit with all the environmental benefits of clean biomass. CoalSwitch™ is produced primarily from forestry waste and other industrial cellulose waste products. Unlike the current ubiquitous white pellets and other advanced pellets, CoalSwitch™ can be co-fired with coal in existing unmodified coal-fired power plants at any ratio, up to 100%; allowing 'dirty' plant operators to fulfil their environmental obligations without the need for extensive retrofitting of power station plant and handling/storage infrastructure, and the associated costs and disruption”.
AEG reported on 2nd January that it had completed its first full-scale CoalSwitch™ plant, test (29th December 2017) and has now reached the important stage of commercial-scale production for prospective customers.
COMPANY DESCRIPTION
Active Energy Group (AEG) is an international, vertically-integrated forestry management and renewable resource energy provider. The group combines management of forestry resources with the commercial development of a proprietary solution (CoalSwitch™) to the integration of wood-based (biomass) fuel into existing coal-fired thermal power plants.