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AIM:
Total number of AIM Companies (Incl Susp):
923*
Total number of AIM Companies trading:
852*
*as at close of business 08 November 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 08 November 2018
NEX Growth Market:
Total number of NEX Growth Market Companies (Incl Susp):
88*
Total number of NEX Growth Market Companies trading:
86*
*as at close of business 08 November 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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TyraTech has left AIM after being acquired by American Vanguard Corporation at 3.15p
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Salt Lake Potash (LON:SO4) 24.5p £43.76m
Salt Lake Potash is announced that it has received strong commitments from both existing and new institutional and sophisticated investors in Australia and overseas to subscribe for 31.0 million new ordinary shares of the Company, to raise gross proceeds of $13m. There was very strong demand for the Placement, an endorsement of the recent appointment of Tony Swiericzuk as CEO and also of the Company's world class Sulphate of Potash project.
Proceeds from the Placement will be used to fund construction of the Williamson Ponds and dewatering of the Williamson Pit, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.
Directors and senior management intend to subscribe for a total of 2.4 million shares in the Placement, including 952,381 shares by the CEO, Mr Tony Swiericzuk, and 750,000 shares by the Company's Chairman, Mr Ian Middlemas, which will be issued subject to shareholder approval.
The issue price of A$0.42 represents a 13.4% discount to the last closing price of $0.485 on ASX.
Fastjet (LON:FJET) 1.65p £10.86m
fastjet, the low-cost African airline, is providing a further update in relation to its current cash position and discussions regarding additional funding, following the announcement on 31 Oct 2018 which noted that additional funding would be required and if the Company is unable to carry out an equity fundraise and/or reach an agreement with its key creditors in the coming days, the Group would be unable to continue trading as a going concern.
The Company continues to review its current cash requirements and is able to continue operating during Nov due to some improvement in trading, cash generation and internal efficiencies. The headroom available allows the Company further time to continue discussions with its major shareholders and creditors.
As previously announced, in conjunction with fundraising discussions, the Company has been negotiating with key creditors of the Group to reduce the outstanding balances due to be paid and reduce the burden of interest and capital repayments. This process has been constructive but remains ongoing.
As at 7 Nov 2018, the Group had cash balances of US$ 3.9m, of which US$ 3m is restricted cash held inside Zimbabwe.
Empyrean Energy (LON:EME) 10.45p £40.36m
Empyrean Energy, the oil and gas development company with interests in China, Indonesia and the United States, announced that Gaffney, Cline & Associates ("GCA"), an independent petroleum advisory firm, has completed its independent audit of the Company's oil initially in place estimates over the Jade, Topaz and Pearl prospects identified in Block 29/11, Pearl River Mouth Basin, offshore China, in which the Company has a 100% working interest (the "STOIIP Audit") .
Total Mean Oil in-place increased 9% to 884 MMbbl from 814 MMbbl on an un-risked basis
GCA's estimates of Geological Chance of Success of Jade and Topaz prospects is 32% and 30% respectively
The independent assessment validates the Company's internal estimates announced in June 2018
The total P10 estimates increased 47% to 1588 MMbbl from 1081 MMbbl on an un-risked basis
Premier African Minerals (LON:PREM) 0.16p £11.58m
Premier African Minerals announced that the Board has reached an agreement to amend the terms of the existing loan agreement entered with a company owned by a Trust of which George Roach is a beneficiary for gross value of $300,000 as announced on 5 June 2018.
The initial maturity of 60 days was extended until 30 Nove 2018 as announced on 27 June 2018. The Loan is secured against the Company's shareholding of 6,128,822 shares in ARC Minerals Limited and the Company had agreed to underwrite any reasonable shortfall following the sale of the shares, should this be necessary. At the last closing Arc's market price of 3.55p, the value of the Security was approximately £0.217m.
The lenders have now agreed to cancel the Security in return for the grant of conversion rights with respect to the entire Loan amount. The Company has agreed therefore that the Loan can be converted into new ordinary shares at any time on or before the maturity date at the lesser of the Volume Weight Average Price for the five trading days immediately prior to the date of conversion or the closing price of the Premier's shares on the day preceding this announcement.
Mobile Streams (LON:MOS) 0.72p £0.93m
Mobile Streams, the emerging markets focused mobile media company, announces its final audited results for the year ended 30 June 2018.
Decrease in revenues to £3m (2017: £5.7m) caused primarily by ongoing challenges in the Company's core market of Argentina.
EBITDA loss of £1.2m (2017 loss: £1.48m) attributable to expansion in India.
Loss before tax £0.9m (2017 loss: £1.5m)
Loss after tax of £1m (2017 loss of £1.7m)
Basic loss per share of 1p per share (2017: loss of 2.62p per share)
£1m in cash (2017: £2.3m), with no debt. Current cash is £0.7m
Agreements signed with all 4 of the mobile carriers in India, with an addressable audience of over 1 billion mobile users
Revenue and margin have stabilized, globally, in the second half of the financial year, despite currency depreciation in Argentina and India.
Launch of a 3rd store in India, featuring premium HTML5 games, to enable additional payment mechanisms and mobile device market.
Haydale (LON:HAYD) 18.5p £6.42m
Haydale, the global advanced materials group, announced the following update in respect of its current financial position.
The Group's planned $1.5m investment project in its new Silicon Carbide cutting tools production line remains on track, with newly acquired tooling and equipment being assembled in the Group's US facility in South Carolina on budget and within the timetable. The Group anticipates first revenues from these products to commence in Spring 2019 and to lead to HCT being EBITDA positive thereafter.
As previously stated, it has been the Group's intention to refinance the capital equipment purchased by the Group for HCT's new cutting tools production line. Following discussions with possible lenders, which are ongoing, the Group now believes that such funding will not be available until production commences. As a consequence, the Group will be seeking alternative sources of finance in the coming months to satisfy its ongoing financial obligations in the short to medium term to support the Group as its technology moves into commercial adoption. A further update on financing will be made in due course.
Gordon Dadds Group (LON:GOR) SUSPENDED
Further to our announcement of 29 Oct 2018, the Board of Gordon Dadds Group, the fast-growing professional services consolidator, confirms that negotiations regarding the acquisition of the international network of law firms, Ince & Co International LLP and its affiliated entities, continue along with associated legal and financial due diligence.
Gordon Dadds' acquisition of Ince & Co International LLP and its affiliated entities, as publicly announced, would be classified as a reverse takeover under Rule 14 of the Aim Rules for Companies. While discussions continue, trading in Gordon Dadds' ordinary shares will remain suspended pending final conclusion of these discussions. A further announcement will be made in due course.
Futura Medical (LON:FUM) 6.65p £8.05m
Futura Medical, a pharmaceutical company developing a portfolio of innovative products for sexual health and pain relief, announced that it will be presenting data on its DermaSys® drug delivery technology and lead product MED20051, a topical glyceryl trinitrate gel for the treatment of erectile dysfunction ("ED"), at the 19th Annual Fall Scientific Meeting of SMSNA, on 8-11 November 2018 at the Loews Miami Beach Hotel, Miami, Florida USA.
Tim Holland, Director of Clinical Development at Futura Medical, will give an oral presentation (#155) entitled "Pharmacokinetics (PK) of MED2005, a Topical Glyceryl Trinitrate Gel for the Treatment of Erectile Dysfunction2" on Friday 9 November at 16:25 EST. The presentation will be part of the 'Erectile Dysfunction (Medical) - Moderated Posters' session.
Sutton Harbour (LON:SUH) 31p £32.21m
The Company is pleased to announce that, following the meeting of the Planning Committee of Plymouth City Council held on 8 November 2018, the application for the mixed use residential and commercial building at Sugar Quay received unanimous approval. Additionally, the application for the related expansion and improvement of Harbour Car Park gained the committee's support. The Company continues to work towards the successful delivery of these development schemes along with the residential building at the Harbour Arch Quay.
Flowgroup (LON:FLOW) SUSPENDED
Flowgroup sold its principal subsidiary Flow Energy Limited on 1 May 2018. Since that time, the Company has explored the possibility of a reverse takeover but has been unable to identify any viable opportunities.
The board has today appointed Geoff Rowley and Philip Armstrong of FRP Advisory LLP as joint administrators of the Company.
Cenkos Securities plc, the Company's nominated adviser, has resigned with immediate effect.
Trading in the Company's shares is currently suspended.