Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Catenae Innovation. We currently have 19 research reports from 2 professional analysts.
Litigation Capital Management—provider of litigation financing and ancillary services, moving from ASX (ASX:LCA) to AIM. Offer TBC. Due 18 Dec. Mkt Cap A$64m. Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is investigating the possibility of AIM admission. The Company is proposing to raise up to £2.25 million before the end of December, conditional on Admission. Manolete Partners—leading UK insolvency litigation financing business looking to join AIM raising £16.3m as a placing and £13.1 realised by the selling shareholder at 175p. Market cap £76.3m, expected 14 December Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected early December.
Companies: DIA GHT CTEA CWR EVE BOO BOKU VELA BBB QIL
Catenae Innovation, formerly Milestone Group, is an AIM listed media and technology group which has recently completed a major restructuring under a new senior management team. The refocused strategy concentrates on the areas of media and fintech, delivered via a portfolio of synergous products, via subsidiaries and partnerships which take advantage of blockchain and distributed ledger technology.
Companies: Catenae Innovation
implyBiz, a Financial Services Firm, reported to be considering an IPO targeting a market capitalisation of between £140m and £155m in a listing that would raise £30m of new money. Bacanora Lithium—Readmission. No new money. Mkt cap £140m. Due 21 March. the new holding company for Bacanora Minerals Ltd Stirling Industries—Acquisition vehicle focusing on industrials. Offer TBA. Due 5 March. GRC International Group— holding company for a group of companies providing a range of products and services to address the IT governance, risk management and compliance requirements of organisations. Offer TBC, expected 5 Mar 2018 Core Industrial REIT—established to invest in Irish-based industrial properties, predominantly located in the Greater Dublin Area. Vendor placing and new funds to a total of €225m, Target gross proceeds €207m. Expected 21 Feb Polarean - Medical drug-device combination company operating in the high resolution medical imaging market. Offer TBC. Due Early March Block Energy—a NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC
Companies: SAR CTEA ALB APC OCI XPD STX EZH ERIS ING
TruFin—holding company of an operating group comprising three growth-focused FinTech and banking businesses operating in three niche lending markets: supply chain finance, invoice finance and dynamic discounting. Offer TBC, expected late Feb Polarean - The medical drug-device combination companies operating in the high resolution medical imaging market. Offer TBC. Due 22 Feb Block Energy—a NEX Listed UK based oil exploration and production company whose main country of operation is the Republic of Georgia, looks to join AIM end of February 2018. Offer TBC
Companies: AEG BMV PHD PRM CGNR CTEA TPG MED STY SOS
LoopUp—The provider of conference calls and online meetings is seeking to join AIM. 2015 revs of £9.2m and EBITDA of £1.02m | Bacanora Lithium— To list on AIM around 28 Sep as holding company for TSX listed Bacanora Minerals at £100m market cap | Aura Energy—ASX listed uranium developer (ASX:AEE) expected to join AIM 6 September | Autins Group plc - The acoustic and thermal insulation specialist now looks to join AIM late August
Companies: CTEA PEN EOG NASA THR UVEN AOR NAK EDL SRES
Altus Strategies—African focused natural resource Company. Offer TBC. Expected Mid July. Harvey Nash Group— Provider of professional recruitment and offshore solutions moving to AIM from Main. No capital to be raised. Mkt Cap c. £57.8m. AnimalCare—RTO of Ecuphar NV, a European animal health company. £30m raise. Ecuphar FY16 rev £68.4m, underlying EBITDA £8.9m. Due 13 July. Angling Direct -Schedule 1 from the specialist fishing tackle retailer in the UK . Raising £9m of which £7.4m new money. Mkt cap c. £27.4m. Due 13 July NEXUS Infrastructure—£35m vendor sale. Mkt cap £70.5m. Provider of essential infrastructure services to the UK housebuilding and commercial sectors. Expected 11 July. FYSep16 rev £135.7m. Greencoat Renewables - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland. Offer TBC. Due Mid July. QUIZ— Omni-channel fast fashion womenswear Company intention to float. Due July 2017. Offer TBA I3 Energy –Schedule 1 Update. Independent oil and gas company with assets and operations in the UK. Offer TBC, Mid July admission. Verditek— Sch 1 update. The Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission late June Rockpool Acquisitions—Northern Ireland based Company seeking strong NI acquisition with an international outlook. Raising £1.5m at 10p. Due 5 July. Hipgnosis Songs Fund investment company offering pure-play exposure to Songs and associated musical intellectual property rights. Prospectus yet to be published. Impact Investment Trust—Exposure to a diversified portfolio of funds providing SMEs across developing economies with the growth capital they need to have a positive impact on the lives of the world's poorer populations. Raising up to $150m at $1.00 Residential Secure Income - social housing REIT raising up to £300m Admission due c.12 July. Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus. NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June. Kuwait Energy— has not been able to complete its initial public offering as announced in its Intention To Float of 3 May 2017. However, in light of positive feedback from potential investors, the Company remains committed to obtaining a London listing and continues to explore its options. Supermarket Income REIT– Up to £200m raise to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income. Due 21 July.
Companies: IPX SAV SGM TPG PREM CTEA SLN FLO PGD
GYG—Intention to float by the superyacht painting, supply and maintenance company. Due 5 July. Raising £6.9m new plus vendor sale of £21.5m at 100p. Mkt Cap c. £47m. Revenue of €54.6m in FY16 and adjusted EBITDA of €6.7m. Greencoat Renewables - Schedule 1. Targeting a portfolio of operating renewable electricity generation assets, initially investing in wind generation assets in Ireland. Offer TBC. Due Mid July. FFI Holdings— Specialist in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product. Offer TBA. Expected 30 June. QUIZ— Omni-channel fast fashion womenswear Company intention to float. Due July 2017. Offer TBA Ethernity Networks—Schedule 1 from Israeli based specialist in data processing technology used in high end carrier ethernet applications across the telecom, mobile, security and data centre markets. Expected late June. Offer TBA. Jangada Mines—Sch 1 advanced stage PGM exploration project containing what the Directors understand to be the largest PGM resource, and only pre-development PGM project, in South America. Offer TBA. Expected late June. Phoenix Global Mining— US Brown field copper play. Expected late June. Offer TBA Touchstone Exploration— Oil E&P company active in the Republic of Trinidad and Tobago. Interests of approximately 90k gross acres. Production c. 1.3k boepd. Raising £1.5m. Expected mkt cap £7.5m - 26 June. I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 7 June admission. Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission late June Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Postponed. Rockpool Acquisitions—Northern Ireland based Company seeking strong NI acquisition with an international outlook. Raising £1.5m at 10p. Due 5 July. Residential Secure Income - social housing REIT raising up to £300m Admission due c.12 July. ScotGems—Admission due 26 June. Seeking £50-£100m. To investing in a diversified portfolio of Small Cap Companies listed on global stock markets DP Eurasia—Intention to float from the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia . £20m primary raise plus a partial vendor sale. AIB—Intention to float from AIB, Ireland's leading retail and commercial bank. The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Valuation range €10.6-€13.3bn. Admission end June. Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus. NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June. Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe Supermarket Income REIT– Up to £200m raise to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income. Due 21 July.
Companies: VLS GSH EGIC CTEA FDEV UNG TND LTHM REDX CREO
Mineral & Financial (MAFL.L) | Redde (REDD.L) | UK Oil & Gas Investments (UKOG.L) | Swallowfield (SWL.L) | Avanti Comms (AVN.L) | M i l e S t o n e G r o u p * (MSG.L) | Actual Experience (ACT.L) | CyanConnode Hldgs (CYAN.L) | Capital for Colleagues (NEX:CFCP) | Sandal (NEX:SAND)
Companies: AVN CTEA ACT MAFL REDD UKOG SWL CFP CYAN
Hutchison China Medi (HCM.L) | Petards Group* (PEG.L) | Milestone Group (MSG.L) | Limitless Earth (LME.L) | Range Resources (RRL.L) | European Metals Holdings (EMH.L) | Stellar Diamonds (STEL.L) | Plant Impact (PIM.L) | Proteome Sciences (PRM.L) | Premier African Minerals (PREM.L)
Companies: PEG RRL PIM STEL PRM PREM CTEA LME EMH HCM
Physiomics* (PYC.L) | Milestone Group (MSG.L) | Inspired Energy (INSE . L) | Entu (ENTU.L) | BMR Group (BMR.L) | Independent Oil & Gas (IOG.L) | Northamber (NAR.L) | Mirada (MIRA.L) | Distil (DIS.L) | BNN Technology (BNN.L)
Companies: PYC ENTU BMR IOG NAR MIRA BNN DIS INSE CTEA
Milestone Group (MSG.L) | Earthport (EPO.L) | Keyword Studios (KWS . L) | Defenx (DFX.L) | Eurasia Mining (EUA.L) | Egdon Resources (EDR.L) | Benchmark Holdings (BMK.L) | Mariana Resources (MARL.L) | Forbidden Technology (FBT.L)
Companies: EPO KWS DFX EUA EDR BMK DAL BIRD CTEA MARL
AMBRIAN PLC (AMBR LN) | BEOWULF MINING (BEM LN) | ELEGANT HOTELS GROUP PLC (EHG LN) | ERGOMED PLC (ERGO LN) | EU SUPPLY PLC (EUSP LN) | GRAFENIA PLC (GRA LN) | INLAND HOMES PLC (INL LN) | WEATHERLY INTERNATIONAL (WTI LN) | Milestone Group (MSG LN) | Inland Homes (INL LN)
Companies: ERGO EUSP BEM GRA WTI AMBR INL EHG LWRF CTEA
DIAMONDCORP PLC (DCP LN) | IMPAX ASSET MANAGEMENT GROUP PLC (IPX LN) | PETARDS GROUP (PEG LN) | QUADRISE FUELS INTERNATIONAL (QFI LN) | STEPPE CEMENT (STCM LN) | TELFORD HOMES (TEF LN) | TLOU ENERGY (TOU AU) | WALKER GREENBANK (WGB LN)
Companies: PEG IPX QFI TLOU WGB DCP TEF STCM CTEA
TMT Investments * (TMT.L) | Milestone Group * (MSG.L) | Venn Life Sciences* (VENN.L) | AB Dynamics (ABDP.L) | Vela Technologies (VELA.L) | Digital Globe Services (DGS.L) |Watkin Jones (WJG.L) | easyHotel (EZH.L) | Finn Aust Mining (FAM.L) | Volga Gas (VGAS.L)
Companies: TMT ORPH ABDP DGS WJG EZH JAY VGAS VELA CTEA
Research Tree provides access to ongoing research coverage, media content and regulatory news on Catenae Innovation. We currently have 19 research reports from 2 professional analysts.
|05Feb19 11:05||RNS||Second Price Monitoring Extn|
|05Feb19 11:00||RNS||Price Monitoring Extension|
|05Jul18 07:05||GNW||Catenae Innovation Plc. : Two New Proof of Concept Agreements Signed|
|05Jul18 07:04||GNW||Catenae Innovation Plc : Holding(s) in Company|
|05Jul18 07:00||GNW||Catenae Innovation Plc. : Issue of Equity and Update Settlement Agreement for October 2016 Placing|
|28Jun18 13:14||GNW||CATENAE INNOVATION PLC : HALF YEARLY REPORT|
|20Jun18 07:00||GNW||Catenae Innovation Plc: Update|
Tencent shares slumped as much as 3.88% on Thursday after the Chinese technology giant missed analyst expectations, despite beating forecast on earnings. Revenue rose 21% year-on-year to 88.82 billion yuan. Profit attributable to shareholders beat analyst forecasts, rising 35% year-on-year to 24.14 billion yuan. The company's gaming division returned to growth, posting revenue of 27.3 billion yuan, up 8% year-on-year, with mobile games performing particularly well.
Companies: KAPE AVST BIDS CDM CNS DFX ECSC FLX FDEV GFIN IGP KWS NCC OSI SOPH SUMO TM17
In January, we provided a list of 11 stocks for 2019 that we believed would perform strongly with attractive catalysts that could lead to material outperformance. In this Quarterly Research Outlook, we revisit these views, analysing what has happened and how the remaining six months of the year could play out.
Companies: AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CALL CSRT TIDE CYAN DTG DEMG ELM EMR FPO FST GTLY GENL GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR HYR IBPO IOG INDI JHD JOG KAPE KEYS KCT KGH LAM LIT LOK MACF MANO PCA PANR PXC PHC PMO RBW RMM REDD RSW RNO RKH RBGP ROR SUS SCPA SHG SOLG SOM TWD TRAK TSG TRI VNET VTC ZOO ZTF
CBS and Viacom have agreed to merge, ending years of on-and-off talks. The merger highlights a long effort to unite CBS and Viacom as the media companies seek to compete with giants like Disney and Netflix. Viacom CEO Bob Bakish will run the combined company, which will be named ViacomCBS.
Companies: EVRH ZOO AMO IMMO MIRA VRE
Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.
Companies: OPM ALU ANCR BLV CONN CRC FDL GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM
British Airways said its flights were returning to normal after passengers had to endure cancellations, delays and long queues at London airports as the airline suffered its third major computer failure in a little more than two years. More than 60 flights to and from Heathrow and Gatwick were cancelled and more than 100 were delayed, according to the departure boards at the two airports.
Companies: KAPE AVST CNS DFX ECSC FLX IGP NCC OSI SWG SOPH
Kape Technologies has enjoyed another strong half year of trading driven by growth in sales of its suite of digital privacy products. The update for the six months ended 30 June 2019 states that revenue is expected to be around $29.6 million for the first half with Adjusted EBITDA of around $5.8 million. EBITDA growth is running ahead of that of revenue and it is also ahead of our full year expected growth rate as the Group continues to benefit from its customer acquisition strategy and new product initiatives. The update notes Kape’s continuing commitment to investment in its people and products. Recent notable successes of Intego in exposing two Mac security threats have brought enhanced appreciation of the Group’s brand and capabilities. Kape recently updated the market on this and on ZenMate’s new products. We note the strong H1 performance and respective growth rates for revenue and EBITDA in relation to our exacting full year expectations. Assuming higher EBITDA margins, we leave Adjusted EBITDA estimates unchanged while reducing revenues by 7% and 6% for FY 2019E and FY 2020E respectively.
Companies: Kape Technologies
Cello has announced today the acquisition of Innovative Science Solutions LLP (ISS) for an initial sum of $6.4m. ISS is a highly technical, scientific consultancy which complements Cello's existing healthcare capabilities. It extends Cello's footprint in the key US healthcare market, while financially, it accelerates EPS growth to a more meaningful rate in FY20E.
Companies: Cello Health
ReAssure Group plc - The Group is a leading closed book life insurance consolidator in the United Kingdom with 4.3m policies, £68.7 billion of assets under administration on a Post-L&G Illustrative Basis. It is considering a premium listing segment of the main market. Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited he IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m· IMC Exploration Group (NEX: IMCP), focused on acquiring and exploring prospecting licence areas which have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. TBC Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raise TBC, expected mid-July 2019
Companies: SRT CHH VELA CREO ASH MIRA ECO AQX ARCM DRV
The good surprise was the lower decrease (better than expected) in organic net revenue in Q2 19 (-1.4% vs -2.8% in Q1 19). This reflected the continuing negative impact of the contracts lost in H2 18 tempered by new wins this year. In H1 19, the ‘headline’ operating margin decreased by 0.8pt to 11.9% of net revenue. WPP does not see a deterioration for H2 19 and is now more confident of achieving its 2019 guidance.
Parliamentary and Brexit developments continue to hold centre stage, although the precise path forward remains as unclear as ever. The uncertainty over Brexit, worries over a possible slowdown in the US and the outlook for global economic growth generally have all contributed to the recent falls in markets. While the rally seen since the start of the year has petered out, most indices have still made progress. In Share News & Views we comment on Bloomsbury Publishing, Bonhill Group*, Braemar Shipping Services*, Burford, Clarkson, LightwaveRF*, Marshall Motor Holdings and Synectics*.
Companies: AOR APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LWRF LSAI NKTN PCF SNX TCN VRE W7L
Positive performance against its operational and financial KPIs in H1 results from Audioboom, a leading global podcast company, as it continues to take market share in a rapidly expanding market. H1 revenue increased 171% to $9.8m and adj. EBITDA loss roughly halved to $1.4m. With a growing number of brand advertisers and eCPM and sell through rates, Audioboom is investing for growth with increased spend on acquiring established podcasts, ensuring the retention of its current roster of talent and developing owned and operated co-produced content. This is being funded by H1’s placing and subscriptions as well as the new content $4m funding facility for minimum revenue guarantees. Audioboom is a trusted partner for podcasters looking to expand their audience and drive monetisation, advertisers to reach an attractive demographic and consumers to access entertaining content. Forecasts remain unchanged and we introduce a fair value of 475p/share.
Companies: Audioboom Group
Kape Technologies trading update revealed strong H1 performance from continuing operations. Revenues rose 24% y/y to $29.6m, with adjusted EBITDA margins improving to 19.6% (+260bps y/y). Strong growth is being underpinned by gains in data privacy, a market seeing strong structural growth as a function of rising consumer digital privacy awareness. Trading is in line with management expectations, and we make no changes to our full year forecasts. An EV/ Dec-19E sales multiple of 1.6x looks attractive for a company delivering an increasing proportion of high-quality recurring revenues, and we see a re-rating towards 2.5x-3.0x as possible as cash-generation improves.
Companies: Kape Technologies
Total revenues are up 6% for Q1, driven by the HSJ acquisition with underlying revenues down 3%, broadly in-line with the update provided at the finals stage. Q1 PBT is down slightly on investments previously identified. There has been some acceleration in training digitisation investment and some culling of US networking events. The latter has impacted Q1 revenues. Looking forward expectations are for H1 revenue and profit to be around flat with the normal seasonal profitability bias to H2 expected. For the full year the Company indicates it is on track to deliver against expectations. Net debt was £42.4m and cash continues to track well (it was belter at the final results stage than expected). We expect sentiment will improve once the board appointments are dealt with (Chairman and CFO). Stock remains notably cheap.
H1 results from Auto Trader this morning has shown a performance in line with expectations at the half year. Net debt has been reduced and the company has continued its’ rolling share buyback programme. Our view on the stock has not changed, and we continue to view BCA Marketplace as a better alternative to play the sector with genuine structural growth opportunities on a pan European basis.
Companies: Auto Trader Group