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Inspecs, a UK designer, manufacturer and distributor of eyewear frames to global retail chains announces its intention to IPO onto AIM raising £94m with a market cap of £138m.  Admission expected 27th February.  FY Dec 2018 numbers show revenue of $57m and underlying EBITDA of $11m

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AIM

Inspecs, a UK designer, manufacturer and distributor of eyewear frames to global retail chains announces its intention to IPO onto AIM raising £94m with a market cap of £138m.  Admission expected 27th February.  FY Dec 2018 numbers show revenue of $57m and underlying EBITDA of $11m

Main Market (Standard List)

The Proof Of Trust has announced its intention to list on the Standard Market.  The Blockchain based business, owns patents to a protocol which facilitates dispute resolution based upon smart contract disputes.  Transaction details TBC. 

Main Market (Premium)

DRI Healthcare—investment company focused on investments in healthcare Royalty Assets  looking to raise $350m. Due 11 Mar.

Ninety One –proposed demerger and public listing of  Investec’s  global asset management business on LSE and JSE. 30 Sep 2019 AUM £121bn. Sale of existing shares. Expected free float of >60%. Due 16 march.

Cabot Square—Closed ended investment fund focussed on alternative assets and asset manager. Looking to raise £200m.  Will target investment opportunities that are expected to generate an attractive risk adjusted return and that can also make a positive ESG impact by focusing on some of the biggest challenges facing societies and economies.  Due 14 Feb.

The Global Sustainable Farmland Income Trust will invest in a diversified portfolio of operational farmland assets located in major agricultural markets including the United States, Europe, New Zealand, Australia and certain countries within Latin and South America. Raising up to $300m.   Due 28 February.

Investment firm Nippon Active Value Fund is seeking to raise up to £200m at an issue price of 100p per share via an IPO.   The company aims to invest in a portfolio of quoted Japanese stocks with market capitalisations of up to $1bn.   First day of dealings expected early February.

NEX Exchange

Incanthera—Specialist oncology company focused on transforming cancer treatment by creating environments in which cancer cannot survive  Admission Only. Due 28 Feb.

Zapp Scooters, a developer and manufacturer of electric two-wheeled vehicles announced its intention to IPO on the NEX Exchange Growth Market.  The Company intends to raise up to £3.5m. Admission is expected to occur on NEX in February 2020.

 

Banquet Buffet

 

Inspiration Healthcare (LON:IHC) 72.5p £27.3m

 Trading update for the year ended 31 January 2020. The Company has performed ahead of expectations and anticipates reporting a 15% increase in Group revenue over the prior financial year to approximately £17.8m, including revenue from the recently acquired Viomedex business, or growth of 12% on a like for like basis.  EBITDA is expected to be between the range of £2.0 to £2.1m, representing growth of more than 20% over the previous financial year.

The Company is pleased to report that Viomedex performed in line with expectations during the four months since acquisition and contributed to overall growth of the Group. 

 

Tracsis  (LON:TRCS) 820p £236m

HYJan20 trading update.

In line with expectations. Group revenues, as expected, are well ahead of the previous year at over £26m (£18.8m). EBITDA and Adjusted Profit are also expected to be ahead of the previous year (2019: EBITDA £4.2m, 2019: Adjusted Profit £3.9m). Cash balances remained strong at approximately £26m at 31 January 2020 (31 July 2019: £24.1m, 31 January 2019: £18.7m), after the expected unwinding of the positive year end working capital movements from the previous year end.

The Rail Technology & Services division has traded well, benefiting from high levels of recurring software revenue, and also income from multi-year contract wins from previous years. All our rail businesses have been involved in major tenders, which if successfully secured, will pave the way for further organic growth. Bellvedi which was acquired during 2019, has also performed well, and continues to form a key part of our industry leading TRACS Enterprise solution.

The Traffic & Data Services division is highly second-half weighted. With this in mind, it has performed very pleasingly and ahead of expectations

 

Immotion Group (LON:IMMO) 7.35p £23.9m

 The UK-based immersive virtual reality ("VR") 'Out of Home' entertainment group, has in the past week, signed contracts for 68 headsets (at 11 sites), including the Company's first outdoor enclosure of 8 headsets at Roger Williams Zoo in Rhode Island, USA.

 

The additional 68 contracted headsets (plus others already contracted but yet to be installed, including Mandalay Bay) will, once installed, take the total number of headsets in operation to 432; of which 314 will be in Partner locations, with 118 now operated in the Company's own ImmotionVR locations.  

 

It is currently expected that the bulk of the new installations (including Mandalay Bay) will occur through Q1 2020.  All of these can be fulfilled from current stock.

 

 

PROACTIS Holdings (LON:PHD) 41p £39m

The Group's announcement on 29 April 2019 outlined a revised strategy that included improving the rates of winning new customers and the retention of existing customers.  Since then, the Group has restructured its operations and the Board is encouraged to be able to report that the Group has delivered well against this strategy. Total contract value signed with new and existing customers was £7.5m for the six-month period ended 31 January 2020, a 44% increase against the six-month period ended 31 July 2019 of £5.2m.  This rate of new business performance is expected to continue during February and the Group is well positioned to take this performance further in the mid-term. 

The Board expects that the Group will return to revenue growth for the second half of the financial year resulting in a likely full year outturn of approximately £50.5m for the year ending 31 July 2020 (as compared to prior expectations of £53.5m) with a consequential impact on the Board's expectations of adj. EBITDA for the year. The Board then anticipates the rate of revenue growth to accelerate into next financial year and future

 

Staffline  (LON:STAF) 44.2p £30.5m

Chris Pullen, the Company's Chief Executive Officer, has tendered his resignation to the Board. Chris will continue to carry out his role as Chief Executive Officer during his notice period in order to facilitate an orderly succession and maintain business continuity.

The Board intends to initiate a formal executive search process to identify a new Chief Executive Officer immediately and will update the market in due course.

The Board's outlook for 2020 remains unchanged and in-line with market expectations, albeit the Group continues to operate in a competitive environment.

The Company remains in constructive dialogue with its lenders and the Board expects to reach agreement with respect to revised terms that will remove the risk of covenant issues and ensure that the Company retains sufficient liquidity headroom. The Group's net debt position at 31 December 2019 is expected to be £60 million, which remains subject to audit.

 

DeepMatter Group (LON:DMTR) 2.1p £15.5m

 Collaboration  with the University of Nottingham's School of Chemistry, to explore the benefits of the DigitalGlassware™ platform in data capture and analysis within undergraduate chemistry teaching.

 

The project, "'Data led synthesis: an undergraduate project in chemical optimisation" will see undergraduate students performing a series of chemical reactions within DigitalGlassware™ over the course of four weeks. DigitalGlassware™ is an integrated software, hardware and artificial intelligence enabled platform, which allows chemistry experiments to be accurately and systematically recorded, coded and entered into a shared data cloud. The aim of DigitalGlassware™ is to bring recordability, reproducibility and shareability to the lab, enabling chemists to produce better molecules, faster and ultimately cheaper.

 

Tlou Energy  (LON:TLOU) 3.3p £14.9m

 The Company focused on generating power in Botswana for supply into the local and regional power market,  has received written confirmation from the Ministry of Mineral Resources, Green Technology and Energy Security (the Ministry) of its support for the ongoing tender process.  The Company looks forward to working with BPC and the Ministry to finalise the Power Purchase Agreement in due course. 

 

Osirium (LON:OSI) 24.5p £4.8m

Contract win with one of the UK's largest regional NHS Trusts.

 

The new client has purchased a 36 month term license for 500 devices, with Osirium delivering its PxM Platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules.

 

The PxM platform has been selected in a public sector tender bid against competing bids from two other Privileged Access Management solution providers to minimise the risk of security breaches in a mixed Windows and Cisco environment. Drivers for the implementation include securing and controlling access to the infrastructure by the 3rd party contractors, vendors and service providers on whom the Trust depends. The platform is also being used to enhance security by controlling and reducing the number of privileged accounts accessed by internal staff.

 

Impellam Group (LON:IPEL) 307p £143m

 Appointment of Tim Briant, 49, to the Impellam Group Board as Group Chief Financial Officer, effective 20 February 2020. Mr Briant was CFO of Airswift from June 2017 to September 2019. Prior to Airswift, Tim spent almost 10 years with the Adecco Group in a number of roles, with his last being CFO of Adecco UK and Ireland.

Julia Robertson, Group Chief Executive Officer commented:

 

Bigblu Broadband (LON:BBB) 87p £50m

Subsidiary, Quickline Communications, has been selected to lead a £6m project to boost rural connectivity in North Yorkshire.

The project will focus on bringing mobile connectivity to the County where 35% of the population currently has no 4G mobile coverage. It will also test how superfast mobile connectivity can benefit North Yorkshire in boosting tourism, tackling social isolation and acting as an early warning system for flooding emergencies.

 

 

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