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Breakfast News - Triple Point Social Housing REIT; Genedrive

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Small Cap Breakfast

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AIM:

Total number of AIM Companies (Incl Susp):

938*

Total number of AIM Companies trading:

867*

*as at close of business  12 July 2018

Standard List**  of Main Market:

Total number of Standard List Companies

(Incl Susp):

136*

Total number of Standard List Companies trading:

123*

*as at close of business 12 July 2018

NEX Growth Market:

Total number of NEX Growth Market Companies (Incl Susp):

87*

Total number of NEX Growth Market Companies trading:

84*               

*as at close of business  12 July 2018

*A corporate client of Hybridan LLP

**  Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity


 
Dish of the day

ASA International (LON:ASAI) Main Mkt Prem— “one of the world's largest and most profitable international microfinance institutions, which aims to enhance financial inclusion among low-income populations throughout Asia and Africa in a socially responsible manner”.
Secondary sell down—40m shares at 313p.  Mkt  Cap £313m.  The company has issued $299m (£226m) of gross loans since 2013 with an average 25 per cent return on average equity over that period. Its profit last year was $29m.

Off the menu  

No Leavers Today



What’s cooking in the IPO kitchen?

NEX Exchange Growth Market

Veni Vidi Vici. Investment Vehicle to identify investment opportunities and acquisitions in companies in the Precious Metals and Base Metals sectors.  Raising £490k at 50p. Market cap £0.8m. Due 8 August.

AIM

Trackwise—established business that manufactures specialist products using printed circuit technology. Offer TBA. Due Late July

Ovoca Gold (to be renamed Ovoca Bio PLC) - RTO of IVIX, a Russian company developing a drug candidate for the treatment of female sexual dysfunctions. No monies to be raised, market cap of £8.5m, due 30 July

Nucleus Financial—independent wrap platform provider . FYDec17 revs £40.36m and PBT of £5.1m. Offer TBA. Due late July.

Kropz PLC-Intention to float by the  emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa

Main Market (Standard)

Okyo Pharma—Formerly West African minerals. Delisted from AIM  earlier in year. Involved in the appraisal of opportunities in the life sciences and biotechnology sector. Moving from AIM to standard. Involved in two projects, one in ocular heath, and the other in non-opioid pain relief.

Danakali—potash company focused on the development of the Colluli Potash Project in Eritrea. Currently on ASX, Mkt cap c.£108m.



 
Breakfast Buffet

International Personal Finance (LON:IPF) 212p £444m

“Trading in the first six months of the current financial year has been in line with plan, with credit issued growth in Mexico home credit and IPF Digital and a modest contraction in European home credit. Portfolio quality remains within our target range and, as a result of stronger than expected post-field collections in our European home credit businesses, we now expect to exceed the current 2018 profit before tax consensus of £99.4m by approximately 10%.  Our expectation for financial performance in 2019 remains broadly in line with current consensus.”

 

Triple Point Social Housing REIT (LON:SOHO) 107p £262.9m

“The Board of Triple Point Social Housing REIT plc is pleased to announce that the Group has exchanged contracts on one supported housing property and completed the acquisition of two supported housing properties, and has also acquired the land and entered into a forward funding arrangement in respect of a further supported housing scheme. These commitments comprise 51 units in total, for an aggregate commitment of £6.7m (excluding costs). The properties are located in the North of England (39 units) and the East Midlands (12 units).”

 

Inspired Energy (LON:INSE) 19.8p £118.4m

Cornwall Insight, a leading independent consultancy to the UK energy market which provides research, insight and intelligence to market participants and their advisors, has just released its Q1 2018 update 'TPIs in the Business and Industrial energy Supply Markets'. Inspired Energy is ranked as the leading  TPI ('third party intermediary) in the Industrial & Commercial ("I&C") sector index rankings. 

Inspired is a provider of essential energy advisory services and intelligent energy solutions.

 

Providence Resources (PVR.L) 10.62p £63.5m

“The Irish based Oil and Gas Exploration Company, provides a Licence Update on Frontier Exploration Licence ("FEL") 2/14.

Providence is pleased to confirm that, having received approval from the Minister of State at the Department of Communications, Climate Action and Environment, the farm-out comprising the assignment of equity (35%) and transfer of operatorship of FEL 2/14 to TOTAL E&P Ireland B.V., a wholly owned subsidiary of TOTAL S.A., has now completed.  FEL 2/14 contains the undrilled Diablo prospect as well as the drilled Druid & Drombeg prospects.

The equity in FEL 2/14 is now TOTAL (Operator - 35%), Capricorn (30%), a wholly owned subsidiary of Cairn Energy PLC, Providence Resources P.l.c. (28%) and Sosina Exploration Limited (7%). “

 

DP Eurasia (LON:DPEU) 178p £257.6m

FYJun18 update from the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia . Continued top line growth and strong digital engagement.

The Board expects the full year Adjusted EBITDA for 2018 to be in line with expectations

79 new stores were added over the last 12 months, bringing the total number to 672

Group system sales growth of 28.1% driven by strong growth in both Russia and Turkey

Turkish systems sales growth of 15.6%

Russian system sales growth of 68.8% (54.0% based on RUB)

 

RhythmOne (LON:RTHM) 182p £136.4m

RhythmOne's Q12019 financial performance was in line with management expectations. The Company started the year strong with quarter-over-quarter growth in both revenue and EBITDA. This upward trajectory was fuelled by continued growth in programmatic platform revenues. The Company is tracking against its key objectives for the year:

Enhancing its unified programmatic advertising platform;

Growing its base of data-driven engaged audience segments; and

Innovating around video and connected TV (CTV) advertising. "The RhythmMax platform continues to drive growth as we add additional controlled supply, package premium inventory for sale within private marketplaces and advance our leadership position within CTV. These steps underscore our overall strategic focus on mobile, video and programmatic trading - which we intend to maintain throughout FY2019.” 

 

James Latham (LON:LTHM) 670p £133m

“James Latham announces that Chris Sutton, an Executive Director of the Company, has informed the Board of his intention to retire on 31 March 2019.  Chris is Managing Director of Lathams Limited, the Group's trading subsidiary, and has served on the plc board since 2005.

Executive Director Andrew Wright will be appointed Managing Director of Lathams with effect from April 2019. Andrew has worked for the Company for 17 years and has been on the plc board since 2015.  He is currently the director responsible for panels and is an integral part of the senior management team.”

 

Creo Medical Group (LON:CREO) 137p £104m

The medical device company focused on the emerging field of surgical endoscopy, announces that it has conditionally raised, in aggregate, up to £48.5m at 125p. Proceeds will enable Creo amongst other thing:

to extend the Company's Clinical Education Program both by the Company and in conjunction with select distribution partners globally;

increase the number of distribution agreements with third parties and partners worldwide;

accelerate the roll out of its products;

extend the Company's existing manufacturing capability to support the extension of the Clinical Education Program and product roll out;

increase product line / range;

accelerate US roll out by seeking to establish a presence in the United States;

 

Genedrive (LON:GDR) 29.5p £5.4m

genedrive, the near patient molecular diagnostics company, provided an unaudited trading update for the twelve months ended 30 June 2018.

Diagnostic related revenue (Genedrive®) was £1.9m (2017: £2.6m). The Company closed the period with cash of £3.5m (31 Dec 2017: £4.6m) reflecting in part the completion of the Services Business disposal in June 2018. The revenue reduction versus the previous year was anticipated, and in line with market expectations, reflecting the successful completion of the US Department of Defence development contract. Diagnostics is now the Company's only reporting segment following the disposal of Services.

genedrive made its first commercial shipments of the Genedrive HCV® ID Kit in February 2018 and following these initial shipments, further commercial sales have followed. The Company is currently progressing registration and import licenses in approximately 30 countries. In conjunction with our distributors, we took the decision to hold back product registrations so we could include new extended product stability claims. These improved performance claims will assist future commercialisation efforts and we envisage the majority of registration dossiers being submitted during the next month.

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