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AIM:
Total number of AIM Companies (Incl Susp):
927*
Total number of AIM Companies trading:
861*
*as at close of business 11 October 2018
Standard List** of Main Market:
Total number of Standard List Companies
(Incl Susp):
138*
Total number of Standard List Companies trading:
120*
*as at close of business 11 October 2018
NEX Growth Market:
Total number of NEX Growth Market Companies (Incl Susp):
89*
Total number of NEX Growth Market Companies trading:
86*
*as at close of business 11 October 2018
*A corporate client of Hybridan LLP
** Standard Listing as defined by Hybridan LLP to be a business with strictly operational activity
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Metminco has left AIM but remains listed on the ASX.
What’s cooking in the IPO kitchen?
Main Market (Premium)
Nova Ljuublianska banka—financial and banking institution based in Slovenia with a network of 349 branches, dual listing process in Ljubliana with GDRs in London. For HYJun18 and for FY17 the Group recorded a net profit equal to EUR 104.8 million and EUR 225.1 million, respectively. 50% plus sell down. Prospectus due for release 26 Oct.
Merian Chrysalis Investment Co –Seeking a £200m raise. Due 6 Nov. Objective is to generate long-term capital growth through investing in a portfolio consisting primarily of equity or equity related investments in unquoted companies .
Sirius Aircraft Leasing Fund targeting a raise of US$250m - objective is to provide investors with an attractive level of regular income and capital returns through investing primarily in used, single-aisle aircraft. Due early Nov
Smithson Investment Trust—New Fund from Fundsmith LLP established by Terry Smith. focused on a global basis on small and medium sized companies between £500m and £15bn in market cap . Due late Oct. Seeking £250m raise.
Main Market (Standard)
ECI Telecom— provider of comprehensive networking and data transport products and solutions. Raising c.$230m and potential sell down. Due late Oct
Main Market (Specialist Funds)
The Global Sustainability Trust -aiming for attractive risk-adjusted returns by investing primarily in private market investments that are expected to have a positive environmental and social impact raising c.£200m. Due end Nov.
Gresham House Energy Storage Fund - will invest in utility-scale Energy Storage Systems in the UK. Raising up to £200m. Due early Nov.
CEIBA Investments. the largest foreign investor solely dedicated to investing in Cuba, with existing total assets in excess of £160 million. Raising up to £100m. Due 22 Oct
Blue Ocean Maritime Income - aims to generate long-term, sustainable shareholder returns, predominantly in the form of income distributions, from direct lending and similar financing opportunities to vessel owners and operators, and other maritime businesses. Raising up to $250m. Due 23 Oct.
AIM
Kropz PLC—an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana. Looking to join AIM, offer TBC, market cap TBC. Due Late October.
Azalea Energy—oil and gas production and development company based in Louisiana, United States. Net production of 13 MMcfe/D (2,200 boepd) and total 1P proved reserves of 91 Bcfe (15.1 mmboe), 2P reserves of 111 Bcfe (18.5 mmboe) raising up to $38m, expected mkt cap over $100m. Due 29 Oct
Summerway Capital investing company established to acquire companies or businesses which the directors of the Company believe have the potential for strategic, operational and performance improvement so as to create shareholder value. Offer TBC, market cap TBC expected 19 October
Admission is being sought as a result of the proposed RTO of Cambian Group plc following completion of the acquisition by CareTech a leading provider of specialist social care services, supporting adults and children with a wide range of complex needs. No raise, market cap TBC expected 19 October.
Path Investments— First acquisition of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m raise. Due late Oct
Crossword Cybersecurity Plc* (AQSE:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months.
NEX Exchange
Auxico Resources—Proposed dual listing of the Canadian listed precious and base metals company engaged in the acquisition, exploration and development of mineral properties in Colombia and Mexico. Due 26 Oct. Mkt cap C$7.8m
Banquet Buffet
Flybe Group (LON:FLYB) 21.5p £48.5m
H1 trading update. “Flybe has seen good revenue performance in the first half set against the backdrop of increasingly adverse fuel and currency impacts. Recent trading however indicates a softening in the second half revenue outlook and the Board now expects the full year adjusted profit figure to be lower than market expectations.
Flybe's strategy to reduce capacity1to focus on its most popular routes has delivered both higher load factors and revenue per seat. In Q2, load factors were up year-on-year by 7.2 percentage points to 86.6%, a record load factor for the Summer season. Passenger revenue per seat was up 6.8% as capacity reduced by 10%.
While the Board's visibility on Q4 revenue is limited at this stage, it is now estimated that the full year adjusted loss before tax will be of the order of £12m (2017/18: loss of £19.2m4), including the benefit of a c. £10m onerous lease provision release. This includes an estimated £29m of adverse year-on-year impact from weaker sterling, fuel and carbon prices.”
Mind Gym (LON:MIND) 165.5p £164.4m
“The behavioural science business that uses scalable proprietary products to deliver human capital business improvement solutions to large corporations, today issues a trading update for the six month period ended 30 Sept 2018.
The Board is pleased to announce that the Group has started the financial year well and continues to trade in line with expectations for the full year.
The Group expects to report its half-year results to 30 Sept 2018 on 4 Dec 2018.”
FY Mar 19E rev £41.6m and £8.5m.
Red Rock Resources (LON:RRR) 0.63p £3.35m
“The natural resource development company with interests in gold, manganese and oil production, announced commencement this week of a soil sampling programme on a license in the Copperbelt in the south of the Democratic Republic of Congo near the Zambian border. The license is considered prospective for copper and cobalt mineralisation, and was recently acquired from a private seller.
80% of license PR13513 was acquired together with a nearby license and a gold-prospective license in the northern DRC adjacent to the licenses containing Randgold's Kibali mine, at a cost of US$60,000. The balance of 20% of the licenses is retained by the vendor, Congo Geologist Galaxy.”
"Our work in the Congo has exposed us to a number of opportunities, at the time when setbacks in the market and in cobalt and copper prices, combined with the uncertainties related to the elections, had created a market more favourable to buyers than for some time. The low entry cost of this opportunity, and its mineral potential, made it worth taking."
Oxford Metrics (LON:OMG) 68.5p £58.6m
“The international software company servicing government, life sciences, entertainment and engineering markets, provides the following update on trading for the financial year ended 30 Sept 2018.
The Company enjoyed a successful close to the financial year and expects to report group revenues and adjusted PBT in line with current market expectations.
The Company has made good progress during the second year of its five-year growth plan and remains on track for its targets to double profits and triple recurring revenue by 2021. The trends reported for the first half of FY18 have continued, with a strong trading performance at Vicon and with Yotta building traction in its marketplace following a period of investment.
The cash balance for the year closed at £12.2m (FY17: £9.8m) after the payment of a final dividend totalling £1.5m in March 2018.”
FYSep18E rev £32m and £5.15m PBT
Location Sciences (LON:LSAI) 0.03p £5.9m
The “mobile location data and intelligence expert, announced the signing of a 24-month contract with Talon Outdoor Limited, the UK's leading Out of Home ("OOH") planning and buying agency.
Location Sciences will provide Talon's clients with unrivalled insight into the impact of their OOH advertising campaigns. Talon will both license Location Sciences' proprietary location data, as well as work in partnership with the Location Sciences Data Science and Engineering teams, to create improved frameworks and accuracy for planning and attribution. Talon's clients, amongst many others, include McDonald's, Sony Pictures, VW Group and Google”.
At the end of September 2018, Location Sciences reached a monthly revenue run rate of more than £70,000, with 69% of this being generated from either recurring or repeat revenue streams.
Ariana Resources (LON:AAU) 1.37p £14.6m
The exploration and development company operating in Turkey, announced the results of recent exploration and development work at the Salinbas Gold Project. Salinbas is located in the Hot Gold Corridor and is 100% owned by Ariana.
Composite channel-sampling over the Salinbas Main Extension target returned 38m @ 2.34g/t Au + 6.63g/t Ag, including 4m @ 3.66g/t Au + 8.50g/t Ag.
Steeply plunging breccia pipe style of mineralisation (akin to Hot Maden) emanating from the Ardala porphyry, occurs in proximity to Salinbas, as noted in drill core.
Initial 2,000m Reverse Circulation drilling programme to test part of the JORC Exploration Target area; drilling scheduled to commence Q2 2019 “funded utilising existing cash and operational cash flow." Trial mining produced over 5,000 tonnes of mineralised material from the Ardala porphyry, which has been stockpiled on site.
Approximately 4.4km of roads built or upgraded to accommodate the trial mining work and future drilling programmes.
Arbuthnot Banking (LON:ABG) 1395p £207.7m
Q3 Sep 18 update. “The Group continued to make good progress during the quarter and expects to deliver a full year profit in line with market expectations, after adjusting for the change in accounting treatment of the investment in Secure Trust Bank PLC, which as announced will now be accounted for as a financial investment.” Customer Lending balances are 28% higher than at the same time in the prior year and originations of new loans are 18% higher. However, as previously stated, the Group remains committed to maintaining its discipline in both credit underwriting decisions and return on capital when extending credit.
The newly launched Asset Based Lending division continues to develop ahead of the original business plan and has a strong pipeline of new opportunities.
The Specialist Finance division has now completed the hiring of its core team of six employees and is currently setting up its operations based in Manchester. It is expected that it will write its first deals toward the end of the fourth quarter or early 2019.
PowerHouse Energy Group (LON:PHE) 0.49p £8.2m
“The UK technology company pioneering hydrogen production from waste plastic and used tyres is pleased to announce it has received an independent “Statement of Feasibility” for its proprietary full-scale commercial engineering design for the waste to power and waste to hydrogen technology processes known as DMG®.
This independent review of PowerHouse Energy’s technology was undertaken by DNV GL, a global leader in technical assurance certification. This Phase one of the Technology Qualification process, was built into PowerHouse Energy’s extensive engineering, safety and risk management programme which has taken several months to complete. The programme involved a robust and rigorous review of the engineering design, test data, process modelling and the equipment engineering design required for the commercial application of the DMG® technology.”
Findel (LON:FDL) 271p £233.4m
HY update from the online value retailer and education supplies business. “Express Gifts, trading as "Studio", is the Group's largest business and grew revenue by 8% in the first 28 weeks of the year (a period which takes into account the changes to marketing activities across the half-year in 2017 due to the implementation of the Financier platform in early Oct 2017). Whilst growth in Q2 was slower than Q1, we have seen a much stronger response from customers in recent weeks as we start the peak trading period ahead of Black Friday and the Christmas period. Our expectations for full-year progress on revenue, margin and profit remain unchanged. Education has continued to make good progress with its operational turnaround. Its core UK customer base has grown by 4% over the last year, driven by its online value proposition which has seen online ordering levels rise from around 20% in Sept 2017 to over Our full-year profit expectations for both Education and the Group as a whole remain unchanged 55% now.” Core net debt at Sept down £9m to c. £81m. PE sub 10x.
Clean Invest Africa (AQSE:CIA) 2.95p £4.8m
Paul Ryan appointed as NED. Mr Ryan has 20 years of strategy transactional, commercial and regulatory experience including with international blue chip entities, during which he has been involved in transactions with a value in excess of $10bn. Mr Ryan has over 20 years' experience including at board level. From 2002 to 2013, he held a variety of board positions with leading mobile operator Vodafone and its operating subsidiaries, including Head of Strategy, Regulatory and Political Affairs in Brussels and Director of Strategy and External Affairs for Vodafone Ireland and Vodafone Ghana. Prior to this, he worked as a management consultant in the European telecoms sector, served as a strategic adviser at Ofcom, the UK's communication industry regulator, and was a solicitor at leading international City law firm Ashurst.” Dr. Andrew Matharu has resigned from the Company with immediate effect to pursue his other business interests.