4 Nov 2020
*A corporate client of Hybridan LLP
Dish of the day
No Joiners Today
Off the menu
No Leavers Today
What’s cooking in the IPO kitchen?
Harrogate Group. The Company offers 90-day residential personality development and vocational courses to local authorities in England for young adults aged between 16 and 18 who have left school but are not in employment or further education to whom the client local authority owes a care obligation under The Children Act 1989. AQSE. No Funds being raised. Due 9 Nov.
Bytes Technology Group one of the UK's leading software, security and cloud services specialists, announces that the Company intends to publish a Registration Document and is considering proceeding with an initial public offering (Main Mkt Prem). FY20 gross profit of £79.2m (+24.5% against FY19) and adjusted operating profit of £31.7m (+53.9% against FY19). Highly cash generative with FY20 cash conversion of 125.9% (FY19 cash conversion 139.7%). Timetable TBC.
Round Hill Music Royalty fund to IPO on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of a placing and offer for subscription targeting the issue of 375m ordinary shares at an issue price of US$1.00 per Ordinary Share. The Company's Investment Objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. Due mid-November.
Mailbox REIT PLC , a newly formed single asset company which owns the Mailbox , a large prime office-led mixed use property in Birmingham which has been independently valued at £179m, announced its intention to raise up to £62.5m MailBox REIT will apply for the Ordinary Shares be admitted to trading on the IPSX Prime segment of International Property Securities Exchange (IPSX ). IPSX is a new Regulated Investment Exchange regulated by the FCA and is the world's first such exchange dedicated to the initial public offering and secondary market trading of companies owning single institutional grade real estate assets and multiple assets with commonality. Due November.
Tirupati Graphite, the fully-integrated, cash generative, specialist graphite and graphene producer with operations in Madagascar and India, announced its potential intention to undertake an initial public offering on the LSE (standard listing). Timing tbc
Umuthi Healthcare Solutions Plc, the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas, seeking admission to the Standard Listing segment of the Official List. Timing tbc
Kibo Energy PLC, the multi-asset Africa focused energy Company, is seeking admission for its 100% owned UK subsidiary Sloane Developments Ltd , which will be renamed Mast Energy Developments PLC (MED), to the Standard List of the London Stock Exchange plc. The MED business strategy is to acquire and develop a portfolio of flexible small-scale power generation assets, exploiting a growth niche market in the UK for Reserve Power generation to balance out the national grid at critical times. Targeted for Q4 2020.
DXS International 7.25p £3.5m (AQSE:DXSP)
The digital clinical decision support Company, provided a statement in respect of trading since the last up update in April 2020.
“DXS’s revenues are holding up well and are marginally up on those for the same period in the previous financial year. The company has maintained a healthy balance sheet with approximately £1 million in cash and continues to trade profitably. However during these unprecedented CoVid-19 times our GP user base are facing numerous challenges including dramatically adapting the way that they interact with patients, managing the sickness absence of colleagues and staff and dealing with the increased mental health pressures of the current stressful environment impacting the GPs themselves as well as their patients.
While these COVID circumstances have not materially impacted DXS’s traditional business, they continue to slow down the planned market launches of our new solutions. The impact of the virus continues to be felt in our attempts to gain NHS approvals for our new solutions due to delays in NHS accreditation processes, namely for our ExpertCare and MyVytalCare products.
As a result of the current environment, we are engaging with GP practices more directly as the benefits to be gained by the practices relative to the investment are significant. For example complex hypertension medicine reviews currently consume the equivalent of approximately 2,700 full time GPs each year at an annual cost of £300 million. These time and financial costs can be mitigated by using DXS products to empower nurses and pharmacists to undertake tasks normally done by GPs. The current crisis serves to reinforce the urgent market need for our solutions and strengthens our resolve to get the solutions to market as soon as possible.”
Inspirit Energy 0.1575p £4.6m (LON:INSP)
The developer of micro Combined Heat and Power (microCHP) solutions announced that it is in discussions regarding a possible collaboration with an engineering company with expertise in advanced gasification.
The purpose of this collaboration would be to enable Inspirit to support the heat recovery processes within this partner's applications, by using Inspirit's Stirling technology to design a unit to give substantial Kw output and to generate opportunities to develop commercial applications inside this leading technology company's mature project pipeline in the USA, UK and Europe. In particular, Inspirit may be afforded the opportunity to participate in district heating, waste-to-energy and other energy infrastructure projects using the partner's gasification technology.
essensys 132.5p £69.9m (LON:ESYS)
The global provider of mission-critical software and technology to the flexible workspace industry, announces the appointment of Jeremy Bernard as CEO of its North American business, effective immediately.
Jeremy joins the Group's Operating Board and reports to Mark Furness, the Group's Founder & CEO.
Jeremy will spearhead the scale up of essensys' North American business, bringing extensive and unique experience in delivering flexible office solutions, managing real estate portfolios and scaling property technology businesses. He most recently served as the Global Head of Real Estate for Knotel, one of the world's largest flexible office providers.
The UK's only Midlands-focused Real Estate Investment Trust (REIT) with a diversified portfolio of 1.59 million sq ft of investment property across all sectors, advised that rent collection for previous and current quarters continues to improve. Updated rent collection for the March quarter (March to June) is now 93.44% (adjusted for monthly and deferred agreements) up from 90.7% reported on 21 September, 90.16% reported on 15 July and 81% reported on 15 June.
June quarter (June to September) rent collection has now risen to 90.23% (adjusted for monthly and deferred agreements), up from 86.9% reported on 21 September and 81.94% reported on 15 July.
September quarter (September to December) rent collection is currently 89.92% (adjusted for monthly and deferred agreements).
Bango 162.5p £121m (LON:BGO)
The global platform for data-driven commerce, announces it is powering bundled subscription services for BT, the UK's leading telecommunications company. BT has selected the Bango Platform as a key integration point to deliver a range of third-party products and services to its customers. The partnership between Bango and BT will open-up greater entertainment and commerce opportunities for BTs broad customer base.
This first launch for BT is with BritBox, enabling eligible customers to select a 6-month complimentary subscription to the full BritBox digital video service. After this period, customers can continue to enjoy BritBox by simply adding the subscription to their BT plan. This launch also represents the first activation through the Bango Platform for BritBox, a digital video subscription service created by the BBC and ITV.
Time Out Group 32.5p £92m (LON:TMO)
Time Out Market , the world's first food and cultural Market rooted in editorial curation continues to expand with the opening of its seventh location in Q1 2021, Time Out Market Dubai, as part of a management agreement with Emaar Malls. Time Out Market portfolio spans iconic destinations, including its flagship in Lisbon (2014) followed by Miami, New York, Boston, Montréal and Chicago (2019).
After temporary closures in March 2020 due to the pandemic, several Time Out Market locations have reopened with enhanced health and safety protocols for visitors to experience favourite local cuisines, cocktails and culture. Now, Time Out Market is looking to the future with safety at the heart of its new openings. Dubai will be the first built in the post-Covid world in Q1 2021, followed by Porto (Q4 2021), London (2022) and Prague (2023) - with further expansion plans in the works.
eEnergy 9.75p £14.1m (LON:EAAS)
The "Energy Efficiency-as-a-Service" (EEaaS) business in the UK and Ireland, announced the launch of a new Green Energy Initiative. The Initiative is complementary to the Group's existing Light-as-a-Service offering. It will focus on helping more UK schools, which are eligible for part but not full Government funding, to reduce carbon emissions and save money by switching to cheaper, more efficient LED lighting.
The Initiative has been set up, by the Group, to work in conjunction with the Public Sector Decarbonisation Scheme , created by the UK Government. The deadline for applications for the PSDS is 11 January 2021. Through the PSDS, the Government is prioritising £1 billion of grant funding to accelerate the decarbonising of public sector buildings, including state schools, academies and trusts, including by upgrading to LED lighting.
Live Company Group 8.5p £7.6m (LON:LVCG)
BrickLive Animal Paradise is currently being installed at Naples Zoo in Florida in readiness to open to the public on 21st November 2020. This is the first time we are working with Naples Zoo - one of the oldest zoos in the USA who last year celebrated 100 years as a botanical garden and 50 years as a zoo. Animal Paradise will stay at the zoo until April 2021.
The Company also announced that BrickLive Safari which is currently at Paignton Zoo in Devon has been extended to January 2021.
The Group is a network of partner-driven fan-based shows using BRICKLIVE created content worldwide. The Company owns the rights to BRICKLIVE - an interactive experience built around the creative ethos of the world's most popular construction toy bricks.
Wishbone Gold 10.75p £13.05m (LON:WSBN)
The London listed precious metals trading and exploration company, advises that it's independent geological consultants in Australia, Terra Search Pty Ltd , have identified four magnetic targets of considerable size covering 2.4km by 400m on its Patersons Range Project in the Havieron and Telfer region of Western Australia. Significantly, these targets are much shallower than the Havieron discovery, with the top of the magnetic targets ranging from 150m to 250m below surface.
In addition, Wishbone advises that it has now completed its legal and technical due diligence on the Patersons Range Project tenements and will now move to close the acquisition on the terms announced on 5th October 2020.
ECSC Group 70p £7m (LON:ECSC)
The provider of cyber security services, is pleased updated on trading for the four months since the interim period end of June 2020.
· Group revenue for Q3 2020 has exceeded the average quarterly revenue for 2019, with Managed Detection and Response (MDR) recurring revenue up 22% compared with Q3 2019
· Adjusted EBITDA profit exceeding £50k per month
· New major contract wins for MDR as previously announced, representing a significant proportion of the MDR order book
· Continued recruitment of sales partners with 16 new partners added (totalling 136 partners since the programme was launched in January 2019) generating 14 new sales opportunities in Q3
· Resumed recruitment in Security Operations Centres, partner and MDR sales and consultants to meet growing demand
If you would like to unsubscribe, please email [email protected] with “unsubscribe me”.
0203 764 2344
Status of this Note and Disclaimer
This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.
The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.
Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.
This document is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of section B of annex I to Directive 2014/65/EU ("MIFID II Directive"); or (ii) investment research as defined in article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority's Conduct of Business Sourcebook).
This document should not be relied upon as being an independent or impartial view of the subject matter. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.
In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority's Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as "relevant persons"). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority's Conduct of Business Sourcebook.
Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.