In Q4 20, organic sales growth was disappointing (+1%) due to the poor performances in the Security Services Europe and Ibero-America (both -1%). Securitas was still affected by lower airport security services and the installation of electronic security. The operating margin was stable at 5.3% of sales. Securitas is involved in a vast transformation. The two programmes launched in 2019 (IT, North America) should be completed in 2021. The transformation is also extended to Europe and Ibero-America with a full effect in 2024.
Companies: Securitas AB Class B
Organic sales improved sequentially (0% vs -4% in Q2 20), in line with expectation, and the EBITA margin decreased to 5% of sales (-0.6pt), lower than expected. North America returned to organic growth. Inversely, Europe continued to be negatively impacted by lower activity in the Aviation segment but less so than in Q2 20. We expect the top-line to prove resilient in Q4 20 and onwards although the improvement in operating margin is unlikely to be significant before Q2 21.
In Q2 20, organic sales decreased by 4% and the operating margin dropped by 1pt to 4% of sales. During the lockdown, Securitas was impacted by lower activity in the Aviation sector and the temporary reduction of security services of existing contracts. It was tempered by stronger COVID-19-related extra sales in Health, Retail and Banking. Given the uncertainty related to the pandemic, Securitas implemented a restructuring programme that will cost SEK350-500m depending on the evolution of the situation in airports.
In Q4 19, organic sales growth was disappointing (+2% only) and the operating margin declined to 5.3% of sales (-0.2pt). Securitas was impacted by a temporary decline in the business unit Critical infrastructure services in North America (-1pt of growth on sales), the contract losses in the prior quarters in France and the UK, and as expected the termination of short-term security solution contracts in Spain. We anticipate an improvement of the performance in H2 2020 rather than H1 2020.
Securitas has been involved in the development of security services and electronic security for many years. Security services and electronic security sales reached SEK20.5bn with an operating margin of 8-10% of sales in 2018 vs 4% of sales at best in traditional manned guarding. What is new is the target of sales assigned for 2023, or SEK40bn, including further acquisitions. These should have a gradual positive impact on the group’s operating margin given the training, IT and R&D costs needed.
In Q3 19, organic sales growth (+4% vs +6% in Q3 18) was in line with consensus. Securitas was affected by low organic growth in Europe (+1%) due to the loss of some large guarding contracts in France and the UK, effective since Q2 19. The operating margin before amortisation was stable at 5.6% of sales and would have declined by 0.1pt excluding IFRS 16. In Europe, wage increases were not offset by price increases in France and the Netherlands.
In Q2 19, organic sales growth (+5% vs +7% in Q1 19) was impacted by a strong slowdown in Europe (+1% vs +4% in Q1 19) due to the loss of large guarding contracts in France and the UK. The group’s operating margin was flat (5% of sales), reflecting an improvement in North America and a lower margin in Europe due to the termination of contracts and wage increases in France and the Netherlands, and in the Ibero-America Security services division.
Securitas posted good organic sales growth in Q4 18 (+5%) thanks to all divisions and an improvement in the operating margin (before amortisation) of 0.2pt to 5.5% of sales despite the disappointing performance in the Security Services Ibero-America. The group announced two transformation programmes of a total of SEK1.2bn in order to reduce IT costs and improve the work organisation in North America. The IT organisational change will enhance group efficiency despite the long timing (full effect in 2022).
In Q3 18, Securitas delivered strong organic sales growth (+6%) and a slight increase in the operating margin before amortization (+0.1pt of sales). Generally, Securitas was able to balance wage inflation and selling price increases. In addition, sales of security solutions and electronic security increased at a high pace (+22% in 9M18, including the acquisition). The restructuring programme was implemented in Europe with a pay-back of two years.
Securitas had strong organic sales growth and a slight improvement in its operating margin. In particular, Security services Ibero-America performed very well, above expectations, boosted by the Spanish operations. In Europe, the group will implement a cost reduction programme in H2 18 in order to improve the operating margin as from Q4 18 and throughout 2019.
In Q1 18, organic sales growth accelerated yoy (+6%) and was in line with the trend seen in Q4 17. Sales in security solutions and electronic security continued to be significant (+2pts yoy to 19% of total sales), progressing in all divisions. Conversely, the flat operating margin was disappointing.
Securitas had strong organic sales growth in Q4 17 (+6%) thanks to a good performance in all divisions. Nevertheless, the improvement in the operating margin was not significant in Q4 17 (+0.1pt to 5.3% of sales) due to start-up costs related to new large contracts signed with the US government and restructuring costs in Latin America.
Q3 17 was in line with expectations, including satisfactory organic sales growth (+5% vs +3% in Q2 17, +4% in Q1 17). Q3 17 figures Sales reached SEK22,651m (+2%). Organic growth was satisfactory at +5% (vs +7% in Q3 16 including the strong activity related to the refugees in Europe). Organic sales growth was driven by Security services North America (+6% vs +6% in Q3 16) and Ibero-America (+13% vs +14% in Q3 16). The performance was weaker in Security services Europe (+2% vs +5% in Q3 16). The operating income before amortisation was flat at SEK1,230m, reflecting a higher contribution from Security services North America (+4% to SEK574m) and Security services Ibero-America (+4% to SEK122m) and a lower contribution from Security services Europe (-4% to SEK609m). The group’s operating margin declined slightly to 5.4% of sales (-0.1pt). Group net profit was SEK780m (+7%) after lower amortisation of acquisition-related intangible assets (-11% to SEK-59m) and acquisition-related costs (SEK-7m vs SEK-26m in Q3 16). In addition, the financial net expenses decreased by 15% to SEK-86m and the income tax rate was lower at 27.8% (-2.2pts) corresponding to the level for the FY2017. 9 months figures Based on sales of SEK68,173m (+6%, +4% organically), the operating income before amortisation was up to SEK3,413m (+3%) corresponding to a margin rate of 5% of sales (-0.1pt). Group net profit was SEK2,093m (+8%) after lower amortisation of acquisition-related intangible assets (-9% to SEK-183m) and acquisition-related costs (SEK-20m vs SEK-66m in 9 months 2016), rather stable financial expenses (SEK-282m) and a lower income tax rate (-1.3pts to 28.7%). FCF was down 9% to SEK783m after an increase in income tax paid. The investments in shares amounted to SEK285m (vs SEK3,461m in 9 months 2016 due to the acquisition of the Diebold electronic security activities). On 30 September 2017, net debt was SEK13,606m, representing 96% of shareholders’ equity.
Q2 17 was a bit disappointing as organic sales growth (+3%) was slightly below the trend in Q1 17 (+4%) and the operating margin was down by 0.2pt to 4.9% of sales. Q2 17 figures Sales were SEK23,031m (+7%, +3% organically). Organic growth remained buoyant in the Security services Ibero-America division (+14% vs +15% in Q1 17) and was in line with expectations in Security services Europe (+1% vs 0% in Q1 17 and +8% in Q2 16) reflecting lower extra-sales related to refugees which were at an unusual level in Q1-Q3 16 and the loss of contracts in the UK and Sweden. The disappointment came from the Security services North America (+2% vs +5% in Q1 17). The operating income before amortisation increased to SEK1,132m (+4%) corresponding to a margin rate of 4.9% of sales (-0.2pts). The decrease in margin was attributable to Security services Europe (-0.3pts to 5.2% of revenue) and Ibero-America (-0.4pts to 4% of sales). Group net profit was SEK688m (+8.9%) after lower amortisation of acquisition-related intangible assets (SEK-61m, -11%), lower acquisition costs (SEK-8.4m vs SEK-20.6m in Q2 16) and a decline in net financial expenses (-4%). H1 17 figures Based on sales of SEK45,522m (+8%, +3% organically), the operating income before amortisation increased to SEK2,183m (+5%) corresponding to a margin rate of 4.8% of sales (-0.1pt). Group net profit was SEK1,313m (+8%). On 30 June 2017, net debt amounted to SEK14,539m, representing 104% of the shareholders’ equity. The FCF/net debt ratio was 0.13x. FCF (after financial income/expenses paid) turned positive (SEK165m vs SEK-12m in H1 16) taking into account the lower capital expenditure (SEK815m, -6%). Investments in shares were moderate at SEK228m (vs SEK3,381m including the consideration paid for Diebold’s electronic security activities in H1 16) and the dividend paid to shareholders was SEK1,369m.
Q1 17 was in line with expectations including a slowdown in organic sales growth at 4% (vs +8% in Q1 16) due to flat activities in Europe and a rather stable operating margin at 4.7% of sales (-0.1pt). Q1 17 figures Sales were SEK22,491m (+9%). Organic sales growth decelerated (+4% vs +8% in Q1 16) due to the Europe Security services division (0% vs +8% in Q1 16). Conversely, organic sales growth continued at the same pace in the North America Security services division (+5% like in Q1 16) and accelerated in the Ibero-America Security services division (+15% vs +13% in Q1 16). The operating income before amortisation was SEK1,051m (+6%), corresponding to a margin rate of 4.7% of sales (-0.1pt). This was due to the combination of higher margin in the North America Security services division (+0.2pt to 5.5% of sales) and lower margins in the Europe Security services division (-0.4pt to 5% of sales) and the Ibero-America Security services division (-0.4pt to 4.2% of sales). Group net profit was SEK625m (+8%) after lower amortisation of acquisition-related intangible assets (-5% to SEK63m) and acquisition-related costs (SEK-4m vs SEK-20m in Q1 16), and higher net financial expenses (+22% to SEK-102m). FCF (after financial income/expenses paid) was negative (SEK-246m vs SEK-227m in Q1 16) after lower WCR and higher capital expenditure (SEK392m, +21%). Investments in shares were significantly lower than in Q1 16 (SEK107m vs SEK3,200m which included the acquisition of the Diebold Electronic security activities in Q1 16). On 31 March 2017, net debt amounted to SEK13.7bn (vs SEK13.4bn at year-end 2016) and represented 92% of shareholders’ equity.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Securitas AB Class B. We currently have 27 research reports from 2 professional analysts.
Yesterday’s CMD from RBGP saw presentations from the Group CEO and each of the three division heads, outlining the Group’s strategy and updating on progress. Since our investment revisit note (here), which laid out what we expected for FY21E, we have upgraded forecasts for both FY21E and FY22E (here), and have seen continued progress against the investment case. We summarise the key points for each division below. RBGP’s shares are up c.55% YTD to 91p; a 12.1x FY21E PER (11.2x EV/EBITDA) with a 4.8% FY21E dividend yield. Putting the shares on a rating in line with the peer group would suggest an intrinsic value of 120p.
Companies: RBG Holdings Plc
In a repeat of the pattern of 1H20, dotdigital’s strong 1H21 to December substantially derisks the achievement of unchanged FY profit expectations, and allows room for increased investment after we tickle FY21 revenue forecasts up 2%. As we noted in our “Treble 20” note at the time of the January trading update, all key revenue stats grew by at least 20% compared with the pre-COVID 1H to December 2019, suggesting very strong momentum in each of the pillars of growth (territory, product and partners) – the aim to generate more revenue, from more customers using more communication channels, in more territories, and through more partners. 22% organic group revenue growth derived from average revenue per customer growth of 20%; additional functionality revenue growth of 20%; international revenue growth of 27%, and allows additional investment in growth in 2H21 and beyond. EMEA (incl. UK), generated significant growth of 21% (1H20: 11%) from increased SMS messaging as a further channel, reducing group gross margin to a still strong 82% (1H20: 94%). EBITDA of £10.5m from revenue of £28.2m led to free cash generation of £3.2m (1H21: £3.1m), with DOTD cashflow seasonally stronger in 2H. The net cash balance of £27.6m (FY21E: £30.3m) leaves all strategic opportunities open to the group. Target 200p (185p).
Companies: dotDigital Group plc
Bluebird Merchant Ventures (BMV LN) – Funding proposed through digital token linked to gold Empire Metals* (EEE LN) – Empire complete acquisition of Eclipse gold project Condor Gold* (CNR LN) – Drilling underway on the Cacao Vein Cornish Metals* (CUSN LN) – Osisko converts its note to a royalty Orosur Mining* (OMI LN) – High-grade gold intersections received at Anza Phoenix Copper* (PXC LN) – £2m debt facility to accelerate the Empire project Rambler Metals and Mining* (RMM LN) – New non-executive appointment to strengthen the board Tertiary Minerals* (TYM LN) – Lucky Copper Project drilling
Companies: CUSN OMI BMV CNR EEE PXC RMM TYM IRR
We have often made the point that DOTD should see accelerating growth on the back of new functionality and international expansion. H1 organic revenue growth of 22% (compared to a steady c.15% pre-CV19) is a strong validation of our thesis and is indicative of secular trends rather than a pandemic bounce back. We note strong growth in SMS (notably driving c. 25% revs growth in the UK), strong international and partner growth (27% and 20% resp.), enhanced functionality growth (20%) and, bringing it all together, ARPC growth (20%). Many of these growth areas are in their infancy and offer a significant growth runway ahead.
AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this Spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Team PLC announced their plans for an AIM IPO. Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 . The Company is seeking to raise no less than £5 million. The Placing will be priced on a pre-money valuation for the Company of £7m. Targeting March Admission. Virgin Wines UK Plc recently set out their plans for an AIM IPO. Virgin Wines is a direct-to-consumer online wine retailer that sells products to retail customers in the UK through two subscription schemes and a pay-as-you-go offering. The Group also sells a range of beers and spirits and operates a B2B sales channel for corporates. Deal details TBC but media reports suggest a £100m valuation. Targeting 2nd March Admission Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company. Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT's investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance. According to media reports, Deliveroo, are expecting to release their IPO plans on 8th March. The company raised more than $180m in January with a valuation of more than $7bn.
Companies: CCS OKYO SML BEG SBIZ GDP SGM SEN AMO KZG
AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7 million by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this Spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Auction Technology Group is considering an IPO on the Main Market. The Group operates six world-leading online Marketplaces and proprietary global auction platform technology for curated online auctions . In FY20 the Group delivered pro forma revenue of £52.3 million, supported by notable underlying year-on-year growth from both Standalone ATG Group and Standalone Proxibid Group (12.4 per cent. and 40.4 per cent., respectively). For the same period, the Group delivered a strong profitability performance of £22.3 million pro forma Adjusted EBITDA representing a pro forma Adjusted EBITDA margin of 42.6 per cent. Expected March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. 4basebio UK Societas is a specialist life sciences group focused on therapeutic DNA for gene therapies and DNA vaccines and providing solutions for effective and safe delivery of these DNA based products to patients. The Company has been divested from 4basebio AG , a German company listed on the Prime Standard segment of the Frankfurt Stock Exchange . No capital to be raised on Admission. Anticipated market capitalisation on AIM Admission: £14.53m.
Companies: SAR PAF PTRO NEXS TYM BOD CLX FAB ODX DUKE
In the past two years, since Hardman & Co first started to target the IC sector, we have heard many managers of ICs and boards talk of the growth of the retail investor on their registers. Many have approached Hardman & Co for help in addressing this market, since we have a unique strength in this field relative to other providers.
Companies: AVO ARBB BBGI CLIG DNL FLTA ICGT OCI PCA PIN PHP RECI STX TRX VTA YEW
As flagged at the trading update in December, the ahead-of-expectations interim results to 30 November 2020 show successfully integrated transformational acquisitions contributing positively to enlarged and diversified group revenue and profits. All three divisions are trading strongly in spite of COVID and associated lockdowns, with monthly average KPIs in the M&A division performing well and ahead of pre-lockdown levels in many cases. We upgrade our SOTP-driven price target to 323p, as positive market sentiment lifts ratings in the M&A division, where KBS exhibits high-margin, high-return characteristics and an innovative approach. Management expect full-year results to be comfortably in line and have now guaranteed the progressive dividend at previously estimated levels for the next three years.
Companies: K3 Capital Group Plc
AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this Spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Auction Technology Group is considering an IPO on the Main Market. The Group operates six world-leading online Marketplaces and proprietary global auction platform technology for curated online auctions. In FY20 the Group delivered pro forma revenue of £52.3m, supported by notable underlying year-on-year growth from both Standalone ATG Group and Standalone Proxibid Group (12.4 per cent. and 40.4 per cent., respectively). For the same period, the Group delivered a strong profitability performance of £22.3m pro forma Adjusted EBITDA representing a pro forma Adjusted EBITDA margin of 42.6 per cent. Expected March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Team PLC announced their plans for an AIM IPO. Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 . The Company is seeking to raise no less than £5 million. The Placing will be priced on a pre-money valuation for the Company of £7 million. Targeting March Admission. Virgin Wines UK Plc recently set out their plans for an AIM IPO. Virgin Wines is a direct-to-consumer online wine retailer that sells products to retail customers in the UK through two subscription schemes and a pay-as-you-go offering. The Group also sells a range of beers and spirits and operates a B2B sales channel for corporates. Deal details TBC but media reports suggest a £100m valuation. Targeting 2nd March Admission Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company. Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT's investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance. According to media reports, Deliveroo, are expecting to release their IPO plans on 8th March. The company raised more than $180m in January with a valuation of more than $7bn.
Companies: SBI OCI IDOX ROL JAN BSE PXS SHED TSG KDNC
Companies: IRR MKA GHH LEK POW KRM DRUM ODX FA/ ALBA
Amur Minerals* (AMC LN) – Extension for TEO report submission secured Arc Minerals* (ARCM LN) – Call reveals approach by large Chinese player, work on Anglo deal and study on Cheyeza copper mine BHP (BHP LN) – Half year results dominated by iron-ore Condor Gold* (CNR LN) – £4m private placing Cornish Metals* (CUSN LN) – First day of trading on AIM Glencore (GLEN LN ) - Glencore 2020 results reflect Covid19 impact Kodal Minerals* (KOD LN) – Riverfort converts a further $169,385 worth of loan notes Metal Tiger (MTR LN) – £85,200 investment in Millennial Silver Corp Phoenix Copper* (PXC LN) – Updated economic results for Empire Rambler Metals and Mining* (RMM LN) – US$10.5m raised in oversubscribed placing Tertiary Minerals* (TYM LN) – Exploration results from the Paymaster project
Companies: CUSN AMC ARCM BHP CNR GLEN KOD PXC RMM TYM MTR
Upon Admission to AIM, Nightcap will acquire The London Cocktail Club Limited (the "London Cocktail Club"), which is an award winning independent operator of ten individually themed cocktail bars in nine London locations and one location in Bristol. Offer TBC. HSS Hire Group, HSS.L transfer from Main to Aim. Mkt Cap c. £70m. Recently raised £52.6m. Leading supplier of tool and equipment for hire in the United Kingdom and Ireland and has provided equipment hire services in the United Kingdom for more than 60 years, primarily focusing on the B2B market. VH Global Sustainable Energy Opportunities plc, a closed-ended investment Company focused on making sustainable energy infrastructure investments, today announces intends to launch an initial public offering of shares on the Official List (Premium) of the Main Market of the London Stock Exchange.
Companies: PMI RMM SUN BOIL ITM TRMR MLVN 88E IME ANP
Accrol Group Holdings plc (ACRL LN) Bango plc (BGO LN) Brickability Group plc (BRCK LN) Norcros plc (NXR LN) OnTheMarket (OTMP LN) Ricardo (RCDO LN) UP Global Sourcing Holdings (UPGS LN) Watkin Jones (WJG LN) Xpediator (XPD LN) ZOO Digital (ZOO LN)
Companies: ACRL BGO BRCK NXR OTMP RCDO UPGS WJG XPD ZOO
Open Orphan has announced that it has opened a new quarantine facility in London. The facility, situated directly opposite hVIVO's existing Queen Mary BioEnterprise Innovation Centre (QMB), will act as an extension to the QMB site, increasing the Group's capacity by an extra 19 beds to continue to deliver on its exciting pipeline at increasing scale, with increased flexibility, lower capital intensity and more attractive pricing
Companies: Open Orphan Plc
Report on Techcrunch that IROKO, a Nigerian-based media company, could file to go public in the next 12 months on the London Stock Exchange (LSE) Alternative Investment Market. Founded by Jason Njoku and Bastian Gotter in 2011, IROKO boasts the largest online catalogue of Nollywood film content globally. According to this report, the media company will raise between $20 million and $30 million valuing the company at $80 million to $100 million. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7 million by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” Kanabo Group (RTO by Spinnaker Opportunities SOP.L) on the main market (standard). Raising £6m, enlarged mkt cap £23.4m. Kanabo focuses on the distribution of Cannabis-derived products for medical patients, and non-THC products for CBD consumers . Due 16 Feb. NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March Auction Technology Group is considering an IPO on the Main Market. The Group operates six world-leading online Marketplaces and proprietary global auction platform technology for curated online auctions . In FY20 the Group delivered pro forma revenue of £52.3 million, supported by notable underlying year-on-year growth from both Standalone ATG Group and Standalone Proxibid Group (12.4 per cent. and 40.4 per cent., respectively). For the same period, the Group delivered a strong profitability performance of £22.3 million pro forma Adjusted EBITDA representing a pro forma Adjusted EBITDA margin of 42.6 per cent. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Cordiant Digital Infrastructure to admit its shares on the Specialist Fund Segment of the Main Market of the London Stock Exchange . Targeting a £300m raise. Cordiant invests in global infrastructure and real assets, running infrastructure private equity and infrastructure private credit strategies through limited partnership funds and managed accounts. Due 16 Feb 4basebio UK Societas is a specialist life sciences group focused on therapeutic DNA for gene therapies and DNA vaccines and providing solutions for effective and safe delivery of these DNA based products to patients. The Company has been divested from 4basebio AG , a German company listed on the Prime Standard segment of the Frankfurt Stock Exchange . No capital to be raised on Admission. Anticipated market capitalisation on AIM Admission: £14.53m. Due 17 Feb Cornish Metals (TSX-V: CUSN) intends to list on AIM. The Company is proposing to raise £5m by way of private placement of new Common Shares to advance the United Downs copper-tin project. The Company expects that Admission will become effective 16 February 2021. The Company's Common Shares will continue to be listed and trade on the TSX-V in Canada. Raising £8.2m. £18.7m mkt cap.
Companies: CCS UKOG PTD SFE STAR ATYM AVG PHD CGNR SNX
