AIM:
Total number of AIM Companies (Incl Susp):
937*
Total number of AIM Companies trading:
867*
*as at close of business 25 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 235July 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 25 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
Nucleus Financial NUC.L (AIM)—independent wrap platform provider . FYDec17 revs £40.36m and PBT of £5.1m. Raised £32m at 183p. Mkt Cap £140m.
Off the menu
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
Jadestone Energy (JSE.TO)—an independent oil and gas production and development company focused on the Asia-Pacific region. Pro-forma production of 13.9 mboe/d, 2P reserves of 45.3 MMboe, and a 2P NPV10 of US$563.7 million . Offer TBA. Current mkt cap C$135m. Due early August.
CentralNic-Schedule 1 from the business operating in proprietary retail platforms selling domain names and associated web presence services including hosting and email on a subscription basis, has acquired KeyDrive S.A which constitutes a RTO. Raising £24m at 52p, combined market cap of £88.7m
Trackwise—established business that manufactures specialist products using printed circuit technology. £5.5m primary and £1.45m sell down at 105p. Mkt Cap £15.5m. Due 31 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
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 (Premium)
Grit Real Estate Income Group pan-African income real estate company focused on real estate investment assets in pre-selected African countries . Looking to raise net proceeds of at least $120m. To be priced at EPRA NAV of $1.43/share. Due 31 July.
Breakfast Buffet
Stilo (STL.L) 2.125p £2.4m
HYJun18 trading update from the developer of software tools and cloud services that help organisations create and process structured content in XML format. “In the Company's AGM statement of 23 May 2018 we indicated that results for year ended 31 December 2018 would likely be impacted because of the non-repeatability of two significant contracts that were received in 2017. Unfortunately, during the first six months of 2018 the Company has not made the sales breakthroughs required to compensate for the orders shortfall and the Board can now confirm that the Company expects to report a near break-even position for the six month period ended 30 June.” “Given our strong balance sheet”, “intends to continue to make significant investments in R&D & expects to announce the payment of an interim dividend.”
Mirriad Advertising (LON:MIRI) 35.5p £35.2m
The “video technology company delivering in-video advertising, today announced an agreement with Tencent, one of the largest providers of video entertainment in China.
Mirriad's platform brings its scalable in-video advertising technology to Tencent's video entertainment platform, giving advertisers in one of the largest advertising markets in the world, China, new ways to reach key audiences.
Mirriad contracts are enabling frameworks between Mirriad and its prospective clients.
Since IPO, Mirriad has had a positive start, signing contracts with Star India, Univision, NBCU, Globosat and the renewal of the Alibaba contract in China.
Ncondezi Energy (LON:NCCL) 7.2p £20.3m
Update on its process to conclude a binding Joint Development Agreement ("JDA") for the Company's integrated 300MW power and coal mine project in Tete Mozambique.
Updated tariff proposal formally submitted to Mozambican state power utility Electricity de Mozambique ("EDM") and the Ministry of Mineral Resources and Energy ("MIREME"). EDM has requested a detailed workshop session with the Company and its potential strategic partners, timed for early August. Ncondezi now targeting JDA completion within 3 months of receipt of necessary support from EDM and MIREME.
EDM has released 10 year strategy paper which includes provision for 300MW of coal fired power from Tete Mozambique in 2023, which is within the Project's current delivery timeline.
PureTech Health (LON:PRTC) 155p £439m
The clinical-stage biopharmaceutical company developing novel medicines for dysfunctions of the Brain-Immune-Gut (BIG), today notes the publication of foundational science in Nature which underlies its new internal programme focused on treating central nervous system (CNS) disorders via modulation of the brain's lymphatic system.
The “publication reveals the potential role of these lymphatic vessels, including in Alzheimer's disease, Huntington's disease, and age-associated cognitive decline. The publication presents preclinical models that suggest modulation of lymphatic function in the brain may prevent or delay diseases associated with aging.”
Empiric Student Property(LON:ESP) 95p £572.3m
“The Board of Empiric Student Property plc (ticker: ESP), the owner and operator of premium student accommodation across the UK, is pleased to announce the appointment of Mark Pain as Non-Executive Chairman of the Group with effect from 1 September 2018”. Mark is a qualified accountant who has extensive experience as an executive and non-executive in a wide range of companies in the real estate, financial services and consumer/leisure sectors. Mark is currently Vice Chairman and Senior Independent Director at Yorkshire Building Society and Chairman of a London based residential property developer, London Square. Mark spent 16 years at Abbey National plc holding Senior executive board positions, ultimately Group Finance Director, and was Group Finance Director for five years at Barratt Developments plc.
discoverIE (LON:DCSV) 413p £303m
The ‘international designer, manufacturer and supplier of customised electronics to industry, today issues a trading update for the first quarter of the financial year ending 31 March 2019, covering the period from 1 April 2018 to 30 June 2018.
The positive trading momentum seen last year continued into the first quarter, with the Group on track to deliver earnings in line with our expectations.
Group sales in the period increased by 12% CER (constant FX) and 3% organically against a strong prior year comparator, and orders increased by 16% CER and 7% organically. The Group order book, of which over 80% is for delivery over the next twelve months, rose to a record high of £135m, up 20% CER year-on-year and up 13% organically.’ FYMar19E rev £425m and £15m PBT.
Tarsus Group (LON:TRS) 315p £350m
HYJun18 results from the international business-to-business media group with interests in exhibitions, conferences, publishing and online media. Group revenue for the period was £35.6m (2017: £39.8m). Adjusting for acquisitions and biennial events, underlying organic revenue growth of 12% was achieved in H1
Adjusted profit before tax was £5.8m (2017: £6.8m; 2016: £4.0m), reflecting strong revenue growth, primarily in our Chinese portfolio. The Group incurred exceptional costs of £0.4m (2017: £0.6m) in respect of completed and pending corporate transactions. The Group also incurred an amortisation charge of £3.3m (2017: £3.7m).
Owing to the timing of the Group's events, revenues for the year as a whole are heavily weighted to the second half. Bookings for the full year are strong and are 10% ahead of 2017 on a like-for-like basis.
Yield c.3.5%. FY2018PE c. 21x and 12x for FY19E.
CMC Markets (LON:CMCX) 191p £561m
Q1 Jun 18 update from the provider of online trading . “Net operating income for the first quarter was moderately above the same period last year, with the Group's focus on premium clients driving an 8% increase in revenue per active client for the period. As previously guided, costs for the full year will be moderately higher than FY18 as the Group continues to invest in strategic initiatives to drive future growth. Costs for the first quarter are in line with these expectations.
Regulatory changes introduced by ESMA will take effect from 1 August and the Group continues to grow the proportion of UK and European revenue that is generated by elective professional clients. As previously guided, we continue to expect that revenue from these clients will account for at least 40% of UK and European revenue (on a rolling 12-month view). Conversion of clients to elective professional status remains a key focus for the business. FYMar19E PE c.15x