Dish of the day
No Joiners Today
Off the menu
No Leavers Today
What’s cooking in the IPO kitchen?
AIM
Caribbean Investment Holdings. Incorporated in Belize . CIHL primarily operates financial services businesses through its subsidiaries The Belize Bank Limited and Belize Bank International Limited, both located in Belize and international corporate services through Belize Corporate Services Limited. CIHL shares are also traded on the Bermuda Stock Exchange. Lord Ashcroft holds 75%. No capital raise. Due 28 April. £36m . 2019 net profit US$ 10.7m
Banquet Buffet
Pantheon Resources 15.325p £77m (AIM:PANR)
“In response to recent global events that have negatively affected the outlook for the sector, the Company is reviewing its entire business to reduce non-essential costs. The Board has implemented a 20% reduction in salaries across the Company and the Directors are grateful to the employees and consultants for their support with this initiative which will last until such time as the Board considers it appropriate. These measures, together with our healthy cash balance and lack of debt or work programme commitments mean that Pantheon is resilient.
The Company continues to seek a farm in partner for its Alaskan projects, where over US$200million has been invested, to pay a meaningful up-front cash component as well as carried terms on future drilling.”
Titon Holdings 81p £9m (LON:TON)
The international manufacturer and supplier of ventilation systems, and window and door hardware, made a further statement on the COVID-19 pandemic. Titon announced that limited scale production will re-start at the Group's factory in Haverhill, Suffolk from today. This follows careful and detailed planning with the Group putting in place measures in the factory in accordance with the UK Government's guidelines on social distancing in the workplace to safeguard the health and safety of our employees. Initially, production will predominantly be to satisfy existing orders from certain customers, who have maintained operations during the various lockdown regimes imposed across the world.
At this stage, there have been no material changes to the Group's cash position or balance sheet since the Company's statement on 24 March 2020. The next scheduled reporting event is the Company's Interim Report for the six month period ended 31 March 2020, which is due to be published on 14 May 2020.
Blue Prism 1232p £1bn (AIM:PRSM)
Completion of £100m placing at 1100p. The net proceeds of the Placing will provide the Company with additional balance sheet strength in case of prolonged disruption during the period of uncertainty relating to the COVID-19 pandemic, support the Group's progress to cash flow break-even and enable the Company to capitalise on potential near term and future market opportunities.
Tatton Asset Management 261p £146m (TAM.L)
The on-platform discretionary fund management (DFM) and IFA support services business, announced a trading update ahead of its Final Results for the year ended 31 March 2020 which are scheduled to be released on Tuesday 16 June 2020.
The Group has delivered a third consecutive year of growth in revenue, adjusted operating profits and assets under management AUM, in a period dominated by the complex political and market backdrop of Brexit and ending with a global health crisis. The Board expects FY20 results to be in line with analysts' forecasts. The year ended with AUM of £6.651bn (31 March 2019: £6.068bn, 30 September 2019: £6.981bn) an increase of £583m or 9.6% for the year having reached a peak of £7.758bn on 21 February 2020. The closing balance of AUM was impacted by a negative market performance of 14.3% towards the end of the financial year due to market falls related to the COVID-19 pandemic.
Kromek 19.6p £67.6m (AIM:KMK)
The worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, has received a Queen's Award for Enterprise in recognition of its outstanding contribution to International Trade. Kromek has been recognised in the International Trade category for its outstanding growth in overseas sales. In the three years to 30 April 2019, Kromek's non-UK sales grew by 52% to make up 84% of all sales. From its headquarters in Sedgefield, County Durham, Kromek exports its radiation detection technologies and products around the globe to over 40 countries in Europe, North America, Asia and Australasia.
RBG Holdings 66p £56.5m (RBGP.L)
The professional services group, which includes one of the UK's leading law firms, Rosenblatt Limited, announced its audited results for the year ended 31 December 2019.
Financial Highlights:
· Revenue and realised gains of £23.7 million, up 26% (2018 proforma: £18.75 million, as reported £12.5 million)
· EBITDA of £9.4 million, up 46% (2018 proforma: £6.5 million as reported £4.3m)
· Profit before tax of £7.6million, up 27% (2018 proforma: £6.0 million as reported £3 million)
Decision on interim dividend delayed until May 2020.
Since moving to remote working, Rosenblatt has seen no change in existing instructions with work proceeding as planned across all practice areas. Furthermore, Rosenblatt has received new instructions as a result of client need for financial restructuring and employment-related issues.
LiDCO 9.25p £22.6m (AIM:LID)
The hemodynamic monitoring company , announces its audited Final Results for the year ended 31 January 2020. · LiDCO product revenue (excluding third-party products) up 19% to £7.36m (FY19: £6.19m)
· Total revenue increased by 3% to £7.55m (FY19: £7.32m)
· High Usage Programme revenues of £1.9m up 101% (FY19: £0.9m)
· Adjusted EBITDA improved by £1.20m to positive £0.04m (FY19: loss £1.16m). H2 positive adjusted EBITDA2 of £0.23m (H2 FY19: EBITDA loss of £0.34)
· Adjusted loss before tax2 of £1.12m (FY19: loss £1.99m). · Debt free with cash at year-end of £1.36m (FY19: £1.72m)
Significant increased demand as a result of COVID-19 with 195 monitors sold to date, predominantly to the UK market, compared with 219 monitors sold in the whole of FY20
Mercia Asset Management 19.5p £86m (MERC.L)
The proactive, regionally focused specialist asset manager, announced that the British Business Bank has allocated an additional £54.3million to Mercia's two existing investment mandates from the Northern Powerhouse Investment Fund . This takes Mercia's total mandates from BBB to £186.3million and the Group's total assets under management to c.£800 million.
Barkby Group 23.95p £32.4m (LON:BARK)
Barkby Life Sciences, a division of The Barkby Group PLC, announced that further to its announcement on 3 March 2020, it has signed an agreement with Cambridge Sound Technologies UK Ltd for the exclusive design of, and acquisition of the intellectual property rights related to, a device to improve and facilitate natural sleep
Barkby has agreed revised terms which now comprise initial cash consideration of £120,000 to cover design costs incurred to date with two further payments of £60,000 upon completion of certain milestones. The acquiring vehicle has been granted a license for the algorithm of the product on a perpetual basis in exchange for a royalty payment per unit sold.
Barkby expects to advance a total of £1.5m of working capital into the acquiring vehicle, Cambridge Sleep Sciences Ltd. Commercial production of the device is expected to commence in the second half of 2020.
Team17 Group 560p £736m (AIM:TM17)
The global games entertainment label, creative partner and developer of independent premium video games, announced that Mark Crawford has been appointed as permanent Chief Financial Officer and board director with immediate effect.
Mark joined the Company as interim CFO in November 2019 and having overseen the Company's 2019 audit, alongside supporting the relocation of the Company's new development studio in Wakefield and the acquisition of Yippee Entertainment Limited, the board is pleased to confirm Mark's appointment, following an extensive executive search.
Head Chef
Derren Nathan
0203 764 2344
derren.nathan@hybridan.com