Small Cap Breakfast
Total number of AIM Companies (Incl Susp):
Total number of AIM Companies trading:
*as at close of business 6 June 2018
Standard List** of Main Market:
Total number of Standard List Companies
Total number of Standard List Companies trading:
*as at close of business 6 June 2018
NEX Growth Market:
Total number of NEX Growth Market Companies (Incl Susp):
Total number of NEX Growth Market Companies trading:
*as at close of business 6 June 2018
*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?
Anexo -specialist integrated credit hire and legal services group. Offer TBA. Due 19 June.
i-nexus—develops and provides strategy execution software to assist global enterprises in effective execution of their strategic plans and initiatives looking to jon AIM. Offer TBC, expected 19 June
Yellow Cake will use its expertise to generate value through the ownership of physical U3O8 (Uranium) together with a range of activities and opportunities connected with owning physical U3O8. Acquiring supply contract for up to $170m. Offer TBA.
Tekmar— technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services—Offshore wind farms and Oil & Gas. Revenue of £21.9m and Adjusted EBITDA of £4.9m Offer TBA
Knights Group— UK regional legal and professional services businesses. FYApr18 rev £34.9 million and adjusted operating profit was £6.8 million excluding Turner Parkinson (acquiring on IPO). Offer TBA
Aquis Exchange—a founder-led, pan-European Multilateral Trading Facility and exchange and regulatory technology developer and service provider is looking to join AIM. Offer TBC, expected 20 June.
TransGlobe Energy Corporation—an independent international upstream oil and gas company with headquarters in Calgary, Canada is looking to join AIM. No Capital to be raised, market cap of £131m. Expected 29 June
Block Energy— UK based oil exploration and production company whose main country of operation is the Republic of Georgia. Raising £5m at 4p. Mkt cap £10.3m. Due 11 June.
Strongbow Exploration (TSX:SBW) intends to dual list on AIM. Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.
Main Market (Premium)
Utilico Global Income— new actively managed income investment trust raising up to £100 million. Due 22 June.
Amigo Holdings—The pioneer of guarantor loans now lending c. £470m per annum. Secondary Sell down. Pricing TBA
Papua Mining (LON:PML) 0.9p £3.08m
Geophysical surveys at Marengo confirm large gold targets.
An emerging chargeability high at around 80m depth beneath One Mile Mountain may be indicative of the top of a porphyry gold / copper system. The chargeable anomaly is 400 m long and 200m wide;
Previous rockchip sampling at One Mile Mountain returned gold assays of 30.4 g/t, 21 g/t and 7.5 g/t and copper assays of 3.99%, 3.15% and 1,52%, suggesting that the chargeability and resistivity patterns potentially highlight a large gold / copper system;
A strongly resistive feature which surrounds One Mile Mountain is a possible vein system and perhaps the source of the surface geochemical high grade gold.
Versarien (LON:VRS) 117.75p £175.05m
“The advanced materials engineering group, is pleased to announce that it has signed a wide ranging agreement with Arrow GreenTech Ltd, an Indian listed company, covering a variety of the Company's graphene products and activities. Arrow GreenTech is an India-based holding company who are a leading global manufacturer of cast water-soluble film, providing solutions and applications for sectors including agrochemicals, construction, chemical, embroidery, health & hygiene and 3D printing. Additionally, Arrow GreenTech have patented technology that is used in secure products such as passports, bank notes and security paper.” Also today formal launch of Graphinks, the latest addition to Versarien's range of 2D materials. We could see no forecasts.
Benchmark Holdings (LON:BMK) 60.1p £314m
Agreed acquisition of 49% interest in strategically important Chilean salmon breeding and genetics JV for a total cash consideration of $16.25m. JV is expected to be immediately and continuously earnings accretive. Anticipates adjusted EBITDA contribution:
* in the four months to 30 Sept 2018 of £1.81m
* for the first full year to 30 Sept 2019 of approx. £2.4m
* of £4.1m at full capacity
Conditional £19m placing at 55p, c.8.5% less than yesterday’s closing mid price.
FY Sep 18E rev £156.7m and £2.58m pre-tax loss.
Crusader Resources (LON:CAS) $0.04 $18.08m
Update on the recent drilling campaign at three previously un-drilled prospects within the Juruena Gold project (Brazil) area.
0.7m @ 12.22 g/t Au from 29m in JRND-071 at the Daniel target
1.57m @ 3.17 g/t Au from 37m in JRND-072 at the Izau III target
3.03m @ 0.60 g/t Au from 23.5m in JRND-073 at the Panelas tar
Current JORC inferred resource of 260,900 oz of contained gold at an average grade of 6.3 g/t.
Concurrent Technology (CNC.L) 85p £61.81m
The “specialist in the design and manufacture of high-end embedded computer boards for critical applications, announced two new VME boards for long life-cycle applications. The VME standard was launched several years ago and has proved to be extremely robust and dependable and so VME based products have been widely deployed for a variety of uses.
The two new VME processor boards are based around the very latest Intel® Xeon® six-core and four-core processors and incorporate a variety of state of the art features. Both new boards will allow customers with VME systems to upgrade performance and functionality without having the expense and disruption of re-designing their entire system. These VME boards are particularly aimed at the defence market where it is anticipated that the life cycle of these high margin products will extend well beyond 2030.” PE c.12x, yield c.3%.
Midatech (LON:MTPH) 29p £17.7m
“The international specialty pharmaceutical company focussed on developing and commercialising products in oncology and immunotherapy, today announces that, further to the Group's announcement dated 20 Dec 2017, patient enrolment is now underway in its Gelclair® Phase IV trial in the US.”
“The trial has been designed to study the effects of Gelclair® (bioadherent oral gel) on various aspects of oral mucositis in patients undergoing stem cell transplant therapy. Results from the study will provide valuable data on the treatment of OM in SCT patients and could significantly increase the use of Gelclair in the in-hospital setting.” FYDec18E rev £9.2m and £16.25m loss.
Trading update from the provider of health, safety, hygiene and environmental consultancy services and security solutions to the public and private sectors.
Consolidated Group revenue for the period was approximately £7.01m (31 March 2017: £7.16m). The decline in revenues is due to the asbestos-related operations of Adamson’s Laboratory Services Limited being discontinued during the year, resulting in ALS’s revenues being approximately £0.44m lower than in the previous year and impacting the Group’s revenue by a corresponding amount.
The Group achieved a positive EBITDA of approximately £184,000 for the year ended 31 March 2018, before allowing for £47,000 of redundancy costs associated with the closure of ALS, (31 March 2017: loss of £99,767).
Final results from the owner of premium drinks brands. Turnover, supported by increased marketing investment, increases 23% to £2,014k from £1,642k. Operating profit of £157k compared to prior year profit of £10k.
The Group's position at the financial year end remains robust showing net assets of £3.01m (2017: £2.81m) including cash reserves of £1.03m (2017: £910k).
Working hard to minimise Brexit impact.
FY Mar 19E rev £2.48m and PBT £0.35m.