Alphawave IP Group is considering an IPO on the standard listing segment of the London Stock Exchange. Alphawave IP is a leading semiconductor IP company focusing on the hardest-to-solve connectivity challenges created by the exponential growth of data. Funds and accounts managed by BlackRock, and Janus Henderson, have each entered into cornerstone agreements with the Company to subscribe for, subject to certain conditions, in aggregate, c. USD 510m of Offer Shares at an offer price representing
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Seeing Machines has announced that it has been selected by an additional global Automotive Tier 1 supplier to deliver its FOVIO Driver and Occupant Monitoring System (OMS) technology to an additional North America-based OEM. The Driver Monitoring System (DMS) will be delivered via the company's embedded Driver Monitoring Engine (FOVIO e-DME software library) and this is Seeing Machines's first design award for its Occupant Monitoring System which was launched in October 2020. Mass production is
Companies: Seeing Machines Limited
After a detailed trading update in February there were few surprises in the Seeing Machines interim results with interim numbers in line with the trading update and the outlook statement noting trading for FY21 continues to be in line with expectations.
We continue to believe that Seeing Machines is the DMS technology market leader and that it will continue to grow its market share of RFQ wins for major OEM programmes. We believe its strategy of quietly playing down its position and working with partners across the value chain to provide broad options for OEM adoption, is now bearing fruit and the company is starting to be more confident in and assertive of its leading position. With Qualcomm taking Seeing Machines into a potential of twenty Sn
Moonpig Group expected to join main market Feb. The retailer of curated gifts and personalised cards is targeting less than 2.0x net debt to EBITDA as at 30 April 2021. In connection with this, the primary offer of new shares is expected to raise gross proceeds of c.£20 million.
The Offer would be comprised of a secondary offer of existing Shares to be sold by certain existing shareholders and a primary offer of new Shares to be issued by the Company
Dr.Martens—Offer Price set at 370 pen
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Last night, Qualcomm delivered a keynote speech at its Automotive Redefined event where it iterated its partnership with Seeing Machines for DMS on its ‘Snapdragon Ride' platform. In the same keynote speech Qualcomm noted that it has won 20 different OEMs (through many different tier 1 suppliers and partners, including Seeing Machines) which are going into production in 2021 with its Gen 3 Snapdragon Ride platform. We do not see this as meaning that these OEMs will automatically adopt Seeing Mac
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 Due mid Jan.
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 Unit
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Seeing Machines has announced that it has licensed its Occula® Neural Processing Unit to OmniVision Technologies Inc. This advances the relationship from the MOU announced in September 2020 and builds on a relationship that is over five years old, with the two organisations having worked on multiple automotive programmes with a number of Tier 1 customers.
Seeing Machines has announced its FY20 results which show a steady underlying improvement in financial performance with the company surpassing our expectations set in May despite a highly challenging operating environment for the transportation sector. Looking forward, whilst the ongoing pandemic is continuing to affect the business, and we have tweaks to our divisional expectations to account for this, visibility into the path to profitability is increasing and the funding of this has been sign
Seeing Machines has announced that it has signed a non-binding Memorandum of Understanding with global aerospace and defence technology company L3Harris Technologies. The MOU frames the intent to enter into a global non-exclusive license agreement to enhance pilot training technology with Seeing Machines's dedicated precision eye-tracking system for flight crew training in the full flight simulator (FFS) environment. A license arrangement is currently in advanced discussions between the parties
Seeing Machines has announced that it is formally expanding its leading automotive driver monitoring system (DMS) into an overall vehicle interior/occupant monitoring system (OMS). The expanded offering will be available for automotive production programmes starting as early as 2023. Seeing Machines estimates that its entry into OMS opens an incremental market opportunity, worth up to a total of A$1.5bn through to 2030, with an estimated incremental revenue opportunity for the company exceeding
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We think three big themes will govern the next 18 months. Recovery – the settled shape of many supply chains as we exit COVID is uncertain. Online buying and B2C activity has accelerated but also traditional high-street focused B2B distribution channels will recover. Operators are focused on how to respond to a changing and more fluid demand mix; and managing higher costs. Technology – much of the logistics world is still labour intensive and we think there is plenty of scope for efficiency gain
Companies: CLG DX/ WIN XPD
Inspiration Healthcare has announced an additional order worth over £1.25m for ventilators to be sold through its Chinese distributor. This new order follows the regulatory approval of the SLE6000 ventilator in China, announced in April 2021, and the £250k order placed at that time. We note that these Chinese orders follow on from the announced Japanese regulatory approval of the ventilator and c£400k order placed at that time. We maintain our Buy recommendation.
Companies: Inspiration Healthcare Group PLC
Velocys, the sustainable fuels technology specialist has issued (17 May) its FY2020A results to December 2020. Despite the challenges of the pandemic, Velocys has continued to service its clients well and further its development project pipeline, including advancing industry discussions on ‘off-take’. We continue to believe that Velocys is strongly positioned in its market with its proprietary proven and scalable technology, long-term structural/regulatory growth drivers and strong management te
Companies: Velocys plc
Powerhouse has moved to de-risk potential sources of delay in the key Protos waste to hydrogen project by providing a £3.8m loan to the project. When the company raised £10m in January we expected this to help expedite the project and today’s loan is a practical example of how this funding is benefiting the project.
Companies: Powerhouse Energy Group PLC
Powerhouse has announced progress with the international roll out of its DMG waste to hydrogen technology with an agreement towards the licencing of the technology in Greece and Hungary. This follows a similar agreement in Poland and demonstrates the global appeal of Powerhouse’s solution in our view. While development of the Protos project in the UK remains important, the ability to expand internationally is part of the appeal of the Powerhouse investment case and it is good to see progress her
Eden Research has announced the signing of an exclusive commercialisation, supply and distribution agreement with leading agriculture input company, Corteva. This follows the successful completion of the previous evaluation agreement. The new agreement sets out the development, regulatory and commercial path, which could see the final seed product launched in time for the 2024 growing season. The two companies will work together to develop this product and further uses of Eden's products in the
Companies: Eden Research plc
Velocys made strong progress during 2020, beyond what can be seen in relatively flat reported numbers. The delivery of reactors and catalyst to Red Rock Biofuels shows that the company can meet commercial demand, the successful running or the Nagoya demonstration has led to a commercial collaboration and fund raising in the period will allow progress at the two reference sites in the UK and the US.
Complex accounting, made simple.
Following on from our Explainer Note 1, which covered Partner Remuneration, we now investigate the Deferred Consideration entry in the balance sheet. Based on our discussions with investors and the company, this is a point that requires clarification.
By removing this (and other) impediment(s) to understanding Ince's operations and finances we hope that market participants will be better placed to value this company on its many merits and consider only t
Companies: Ince Group plc
c. £241m firm placing at the top of the target range of £190m to £240m at a 17% discount. As expected the raise will be used to reduce the debt and fund investment. This is the final milestone in the group’s strategy. There is no update on trading but as we wrote last month Kier is turning a corner. We show our key placing assumptions. We estimate 6% and 60% FD EPS dilution in FY 21 and FY 22 respectively. We expect net cash at FY 21 and close to average cash neutral in FY 23. TP unchanged at 15
Companies: Kier Group plc
Recent USDA data on the corn crop in the US points to accelerating planting activity by US corn farmers and likely upward pressure for demand for Plant Health Care's commercial product Harpin ab. Corn prices have more than doubled in the past year and corn planting is currently at 67% of acreage complete, ahead of 65% in 2020 and the 5 year mid-May average of 52%. In addition, US specialty crop (almonds, grapes etc) forecast data points to increasing volumes which suggests demand through Wilbur-
Companies: Plant Health Care PLC
Directa’s FY20 prelims confirm a year of strong of progress despite the challenges of COVID. Total income of €6.8m and an EBITDA loss of €2.6m are both slightly better than our forecasts and we upgrade FY21 revenue expectations (from €7.5m to €8.2m) to reflect a positive start to FY21; revenue in the first four months increased by 49% year on year. Future prospects look bright with exciting new opportunities emerging in high-potential application areas, notably Lithium-Sulphur batteries.
Companies: Directa Plus Plc
Invinity Energy Systems plc (IES LN), a UK based Vanadium Flow Battery (VFB) technology company, has today announced that it has entered into a contract with Webcor, a leading Californian construction firm, to provide a VFB for a project developed by Indian Energy LLC, a 100% Native American-owned utility-scale and microgrid development and systems integration firm with approximately 4 GW of solar PV and wind and 6 GWh of energy storage projects under development. This project is located on a US
Companies: Invinity Energy Systems PLC
Despite COVID Directa Plus continues to trade well with revenues of €2.8m for the first four months of FY21 showing the company is on track to exceed our prior full year expectation and we have upgraded our FY21E and FY22E revenue expectations by 4%. Directa Plus has demonstrated material conversion in two key environmental technology business lines which we believe, and demonstrate in this report, each alone justify the current market capitalisation:
In environmental remediation, its unique Gr
Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
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The group’s 10-month trading update is positive, with the group expecting to exceed FY21 expectations. Trading momentum continues, following its record H1 with strong underlying market demand in new build housing and RMI sectors. It has also seen market share gains and good export sales. The turnaround of Levolux continues, combined with the £2.4m of cost savings gained underpins margin improvement. We upgrade our forecasts for FY21, increasing EPS by 9% to 21.7p. In FY22 we also upgrade EPS by
Companies: Alumasc Group plc