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Main Market (Standard List)
Abal Group (formerly on AIM) to relist as Supply@Me, a growing innovative "inventory monetisation" platform, having originated more than EUR300m of prospective "inventory monetisation deals" in its first six months of operating (to June 2018). In the first half of 2019, an additional prospective EUR300m was originated. As at the date of the publication of the Prospectus and Circular to Abal shareholders, dated 4 March 2020 , EUR972m of prospective contracts have been originated. Raising £2.2m. Due 23 March.
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. Updated timetable TBA.
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. Updated timetable TBA.
NEX Exchange
The British Honey Company (BHC), the premium British Honey and Infused Spirits brand, has announced its intention to float on the NEX Exchange Growth Market through a placing of up to £1.5m. BHC is currently selling through Waitrose, Majestic and Amazon to name but a few. Revenues are reported to be circa £1m this year. Admission is expected to occur in March 2020.
Banquet Buffet
The Panoply (LON:TPX) 74.9p £36.9m
The digitally native technology services group, announces the acquisition of the entire issued share capital of Ameo Professional Services Ltd, a consultancy specialising in delivering business change, with a strong focus on the public sector . Ameo is a debt free, cash generative and cash positive business. In the year ended 30 October 2019 it reported unaudited revenues of £6.9m, and a normalised profit before tax of £1.0m.
The Board believes that the Acquisition will bring additional and complementary capabilities to the Group's public sector offering, as well as extending its reach into this key market. The strategy and change delivery capability of Ameo, alongside the organisational and service design capability of FutureGov, and the backing of The Panoply's first-in-class technology businesses provides the basis for targeting and winning increasingly large digital transformation projects in the UK public sector.
The Panoply is paying an effective purchase price of £7.0m for the Acquisition, £2.2m cash, the balance in shares.
Shepherd Neame (AQSE:SHEP) 1150p £171m
Britain's Oldest Brewer and owner and operator of 320 high quality pubs in Kent and the South East, today announces results for the 26 weeks ended 28 December 2019.
Financial performance:
Turnover in the period increased to £79.0m
Underlying operating profit was up +1.1% at £8.0m and underlying profit before tax was up +4.8% to £6.2m benefitting from lower interest charges
Interim divi 6p + 2.2%.
35 weeks to 29 Feb 2020: - Managed pub like-for-like sales up +0.6% - Like-for-like tenanted pub income up + 2.6% - Own brand beer and cider volumes up +4.4%
On Covid-19 no discernible change in customer behaviour to date but should there be significant restrictions on travel and the movement of people in the coming months, that would have an inevitable bearing on the business and supply chain.
Highland Gold (LON:HGM) 207.7p £756m
Appointment of Mr Michael Monaghan as Chief Operating Officer, to be based at the Company's Moscow management office Russdragmet LLC. Mr Monaghan will be responsible for overseeing day-to-day operations at all of Highland Gold's production and development assets.
Mr Monaghan is a mining engineer with over four decades in the industry. His management experience covers both underground and open pit operations across a number of commodities as well as commissioning, mine management, turnaround management, and environmental and safety compliance in Australia, Africa, Asia and Europe. He most recently served as Mining and Technical Director for Russia-based Nordgold LLC. Prior to that, he held senior management positions at Akara Resources (a subsidiary of Kingsgate Consolidated) in Thailand, AngloGold Ashanti in Tanzania, Etruscan Resources in Burkina Faso, and Redback Mining in Ghana.
Tracsis (LON:TRCS) 712.5p £205.6m
Tracsis has acquired the entire issued share capital of iBlocks Limited . Established in 2000, iBlocks is a UK based software company that specialises in the provision of smart ticketing solutions, automated delay repay and the development of mission critical back office systems that are used by the Rail Delivery Group, the wider community of train operating companies (TOCs) and the rail supply chain.
In the year ended 28 February 2020, iBlocks generated revenue of c. £3.0m, Profit before Tax of c. £1.1m, and had net assets of c. £3.5m. £12.5m cash, £1.5m cash. additional payment of c. £3.2m will be made on a pound for pound basis to reflect the net current asset position of the business at completion and will be finalised in due course. Additional contingent consideration of up to £8.5m is payable subject to iBlocks achieving certain stretched profit financial targets in the three years post acquisition.
Gaming Realms (LON:GMR) 5.725p £16.3m
The Company announces the launch of a three-year partnership agreement with Sky Betting & Gaming ("SBG"), one of the UK's leading mobile-led betting and gaming operators, providing real-money gaming and a diversified gaming product portfolio to customers in the UK, Ireland, and Europe. Gaming Realms' Slingo Rainbow Riches content is now available on SBG's Sky Vegas online casino, via Gaming Realms' agreement with Scientific Games' Digital Group ("SG Digital"). This will be followed by a further roll-out of Slingo Originals content across SBG's portfolio sites.
Additionally, the Company announces the launch of a three-year partnership agreement with Draftkings Inc. ("DraftKings"), a US-based digital sports entertainment and gaming company known for its industry-leading daily fantasy sports and mobile sports betting platforms. Gaming Realms' Slingo Originals content is now available on the DraftKings' New Jersey site.
AorTech (LON:AOR) 90p £13.2m
The licensor of the world's leading long-term implantable biostable polymer (Elast-EonTM) and developer of medical devices utilising the key properties of Elast-EonTM , announces that it has entered into a conditional agreement with David Richmond, a Non-Executive Director of the Company, to acquire RUA Medical Devices Limited, an Ayrshire-based innovative and experienced implantable fabric specialist and full service contract medical device developer and manufacturer for a consideration of £2.45m, which will be satisfied as to £0.95m in cash and the balance by the allotment and issue of 1.5m shares.
In FYApr19, RUA generated unaudited revenues of £1.61m and profit before tax of £0.15m after expensing eligible R&D costs of £0.28m. Its net assets at 30 April 2019 were £1.17m which included a freehold property at a net book value of £0.30m.
Aptitude (LON:APTD) 476.5p £268m
The specialist provider of powerful financial management software to large global businesses (formerly Microgen) reported FYDec19 results.
ARR +22% to £28.6m. Total revenue +14% to £59.7m. Adjusted op profit +20% to £10.5m.
Aptitude Software has made good progress in 2019, both strategically and operationally. The Group benefits from a growing portfolio of product and service offerings, an expanding SaaS capability, increasing worldwide presence and a well-established global partner network. With these strengths, and the positive start achieved in the opening months of 2020 with a further significant sale of Aptitude Revenue Management, absent any material adverse impact of Covid-19, the Board looks forward to further progress in 2020 .
Kin & Carta (LON:KCT) 80.3p £135m
Kin + Carta, the international digital transformation ('DX') Company, today announces interim results for the period from 1 August 2019 to 31 January 2020.
Net revenue of £76.0m, including c. £2m of Spire; up 3% compared to the prior half year
Adjusted profit before tax of £5.4m; incorporates previously announced growth investments
Adjusted operating margin 9% of net revenue (2019: 12%); remain on track for FY margin expectations
Statutory LBT £5.9m includes acquisition and restructuring costs
Net debt £39.5m (31 July 2019: £38.4m)3; net debt to Adjusted EBITDA ratio of 1.8x6
Interim dividend maintained at 0.65 pence per share (2019: 0.65 pence)
£27m acquisition of Spire Digital via successful placing of 15.3m new ordinary shares
Currently on track to meet full-year expectations with no impact from COVID-19 to date; continuing to assess potential COVID-19 related risks
88 Energy (LON:88E)0.9p £64m
Update related to operations for the currently drilling Charlie-1 appraisal well, on the North Slope of Alaska. The Charlie-1 appraisal well has reached 3,500' depth and casing will now be run, as planned, in the 12.25" hole prior to commencing drilling the 8.5" production hole.
Trafalgar Property (LON:TRAF) 0.12p £0.6m
Trafalgar is posting a circular to Shareholders today, outlining that it intends to add an additional business unit to operate alongside the Company's existing property development operations. The Company intends to invest in the hydroponic vertical farming sector. Hydroponics maximises yield per acre on a reduced physical footprint without soil. This form of food production has the potential to address:·increasing global population ·insufficient available agricultural land · degraded soil quality · excessive forest clearance.
Head Chefs
Derren Nathan
0203 764 2344
derren.nathan@hybridan.com
Niall Pearson
0203 764 2343
niall.pearson@hybridan.com