Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Versarien. We currently have 32 research reports from 5 professional analysts.
The Pebble Group, a provider of products, services and technology to the global promotional products industry, announces its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange, which is expected to take place in early December 2019.The Group delivered revenue of £99.8m in the year ended 31 December 2018.No mention of bottom line and a suggestion that funds raised would provide an exit to private equity shareholders and the repayment of debt. Offer TBA. Longboat Energy raising £10m at 100p. Expected admission November 2019. The company has been established by the former management team of Faroe Petroleum to create a new full-cycle North Sea oil and gas company .The strategy to achieve this will initially be through the acquisition of assets where the management team can add value through subsurface and operational improvements, follow-up deal opportunities and near-field exploration; and by value creation through the drill bit. Due 28 Nov. MJ Hudson Group PLC, the financial services support provider to Alternatives fund managers and asset owners, is planning an AIM IPO. Deal details TBC but expected admission date mid-December.
Companies: GRP BSE SWG UJO VRS VEC PRES WATR
Essentra (ESNT LN, £1.1bn) | AB Dynamics (ABDP LN, £624m) | Versarien (VRS LN, £155m) | Filtronic (FTC LN, £18m) | Pressure Technologies (PRES LN, £17m)
Companies: ESNT ABDP VRS FTC PRES
Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, which may value the financial technology company at $1.3 billion to $1.5 billion. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.
Companies: MUL MTFB BLOE MTC STX BEG VRS SFE RMS SWG
Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, which may value the financial technology company at $1.3 billion to $1.5 billion. 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 the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m.Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.
Companies: SPE VLX VRS ARK CORA IMO DGOC HZD SNG EMR
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 Com pany w ill focus on the acquisition, leasing and m anagement of prim arily widebody aircraft, w ith 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· Uniphar, a diversified healthcare services business w ith a workforce of over 2,000, is looking to join AIM. Raise TBC, expected mid-July 2019
Companies: OSI DXRX HDD PYC VRS IPX FDI RENX HZM BRD
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 Com pany w ill focus on the acquisition, leasing and m anagement of prim arily widebody aircraft, w ith 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 w hich have high potential for natural resource, is looking to admit its shares to the standard list and will withdraw for the NEX Exchange. TBC
Companies: DODS TMT VRS GAN PYC IMM AUK SAR WRES NBB
Induction Healthcare Group plc—a healthcare technology company focused on streamlining the delivery of care by Healthcare Professionals looking to join AIM. Expected raise of £14.58m at 115p, market cap of £34.07m. Expected 22 May 2019. SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019. Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019
Companies: ARW BKS CHAR PEG TPX MIRI BYOT VRS SECG ELCO
Altus Strategy* (ALS LN) – Agdz returns high grade Cu/Ag/Au in rock chips – IP survey to follow | Acacia Mining (ACA LN) – Revised mine plan at North Mara delivers | Bluebird Merchant Ventures* (BMV LN) – Korea state funds confirm grant funding for drilling at Kochang mine | Lithium Australia (LIT AU) – Alliance forms with leading Chinese battery producer | Rambler Metals & Mining* (RMM LN) – Record quarterly throughput in Q1 2019 | Solgold* (SOLG LN) – New copper/gold target identified in northern Ecuador | Versarien (VRS LN) – US update
Companies: ALS ACA BMV LIT RMM SOLG VRS
United Oil & Gas (UOG.L) an oil and gas exploration and development company brought to the Official List (Standard Segment) in July 2017 by way of a reverse takeover of Senterra Energy plc. No capital to be raised, expected market cap of £17m and expected 28 Feb Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m
Companies: DX/ VERS KNOS FIPP RBGP AIEA IGAS CNIC MKA VRS
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: YOLO SHG ITX CAKE VRS EUSP NTQ FIH JOUL BMV
Graphite is an allotrope (a chemically similar, structural modification of carbon), exhibiting both metallic and non-metallic properties which favour a vast number of end-use markets. Further to traditional steel manufacturing, the unique qualities of graphite, including very high thermal and electrical conductivity, lend itself to innovative battery and emerging technologies.
Companies: VRS HAYD SYR TON KNL MNS NGC FMS LLG TLG
Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Offer TBA. Due late Aug. Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa
Companies: BOOT IHC PANR VRS PREM EQT PURE CDM KEFI BRD
RA International is a leading provider of services to remote locations in Africa and the Middle East looking to join AIM raising £18.8m and 56p, market cap of £97.2m. Expected 29 June Cake Box Holdings—franchise retailer of cakes with a growing store base across the UK looking to join AIM, Offer tbc, expected late June Mind Gym. Behavioural science business that uses scalable proprietary products to deliver human capital and business improvement solutions to large corporations. Offer TBA. Due 28 June Anexo -specialist integrated credit hire and legal services group. Offer raising £25m at 100p, market cap £110m. Due 20 June. i-nexus—develops and provides strategy execution software to assist global enterprises in effective execution of their strategic plans and initiatives looking to jon AIM. Offer TBC, expected 19 June Yellow Cake will use its expertise to generate value through the ownership of physical U3O8 (Uranium) together with a range of activities and opportunities connected with owning physical U3O8. Acquiring supply contract for up to $170m. Offer TBA. Tekmar— technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services—Offshore wind farms and Oil & Gas. Revenue of £21.9m and Adjusted EBITDA of £4.9m. £61.8m raised at 130p. Mkt cap c.£65m. Due 20 June. Knights Group— UK regional legal and professional services businesses. FYApr18 rev £34.9m and adjusted operating profit was £6.8m excluding Turner Parkinson (acquiring on IPO). Offer TBA, expected 29 June. TransGlobe Energy Corporation—an independent international upstream oil and gas company with headquarters in Calgary, Canada is looking to join AIM. No Capital to be raised, market cap of £131m. Expected 29 June Strongbow Exploration (TSX:SBW) intends to dual list on AIM. Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.
Companies: ERIS PTSG KOOV OPTI WSBN VRS MPL ING HVO JAN
Anexo -specialist integrated credit hire and legal services group. Offer TBA. Due 19 June. i-nexus—develops and provides strategy execution software to assist global enterprises in effective execution of their strategic plans and initiatives looking to jon AIM. Offer TBC, expected 19 June Yellow Cake will use its expertise to generate value through the ownership of physical U3O8 (Uranium) together with a range of activities and opportunities connected with owning physical U3O8. Acquiring supply contract for up to $170m. Offer TBA. Tekmar— technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services—Offshore wind farms and Oil & Gas. Revenue of £21.9m and Adjusted EBITDA of £4.9m Offer TBA Knights Group— UK regional legal and professional services businesses. FYApr18 rev £34.9 million and adjusted operating profit was £6.8 million excluding Turner Parkinson (acquiring on IPO). Offer TBA Aquis Exchange—a founder-led, pan-European Multilateral Trading Facility and exchange and regulatory technology developer and service provider is looking to join AIM. Offer TBC, expected 20 June. TransGlobe Energy Corporation—an independent international upstream oil and gas company with headquarters in Calgary, Canada is looking to join AIM. No Capital to be raised, market cap of £131m. Expected 29 June Block Energy— UK based oil exploration and production company whose main country of operation is the Republic of Georgia. Raising £5m at 4p. Mkt cap £10.3m. Due 11 June. Strongbow Exploration (TSX:SBW) intends to dual list on AIM. Holds rights to the South Crofty underground tin mine, a former producing tin mine located in the towns of Pool and Camborne, Cornwall . The project is estimated to require the Company to raise £25 million over the next 18 months to progress to a production decision. Offer TBS. Due June.
Companies: ROCK VRS BMK CAS CNC MTPH PHSC AST DIS
Avast, global cybersecurity provider with 435m users worldwide. In 2017, the Group's Adjusted Billings was $811 million, Adjusted Revenue was $780 million, Adjusted Cash EBITDA was $451 million. Seeking to raise $200m. Due in May | Fundamentum Supported Housing REIT. Raising £150m. Focussed on UK Social Housing assets. Due 2 May | Vivo Energy—retailer and marketer of Shell-branded fuels and lubricants in Africa, Due in May. 100% secondary sell-down of existing Shares by Selling Shareholders, No new Money. Pricing TBA | Gore Street Energy Storage Fund—Seeking to raise £100m for the purposes of investment in a diversified portfolio of utility scale energy storage projects. Due 03 May | Odyssean Investment Trust—Raising £100m at £1. Due 1 May. The Company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange | Finablr - press reports in ‘Arabian Business’ that Money transfer firms UAE Exchange, Travelex and others under UAE billionaire Bavaguthu Raghuram Shetty’s newly formed holding company Finablr are preparing for a London IPO
Companies: HGM TSG INFA VRS VEL CGNR SND SMRT
Research Tree provides access to ongoing research coverage, media content and regulatory news on Versarien. We currently have 32 research reports from 5 professional analysts.
|12Dec19 07:00||RNS||Interim Results|
|27Nov19 07:00||RNS||Notice of Results|
|27Nov19 07:00||RNS||Textile Commercial Partnership Agreement|
|01Nov19 14:05||RNS||Second Price Monitoring Extn|
|01Nov19 14:00||RNS||Price Monitoring Extension|
|09Oct19 07:00||RNS||Refractory Materials Collaboration|
|24Sep19 13:38||RNS||Result of AGM|
Following continued delays of a Brexit agreement, few sectors within the UK market have remained attractive to investors despite low valuations. One sector which has continued to outperform despite the political drama has been the UK video gaming sector (henceforth UK gaming), which we are fans of. We believe a combination of sector-leading growth, strong cash conversion and timely cyclical positioning support our positive view on the UK video gaming sector.
Companies: ABBY AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CDM CSRT TIDE CYAN DTG DEMG ELM EMR FPO FDEV GTLY GENL GHH GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR IBPO IOG INDI JHD JOG KAPE KEYS KWS KCT KGH LAM LIT LOK MACF MANO MOD OXIG PCA PANR APP ESRE PHC PMO RBW RMM RBGP REDD RSW RNO ROR SUS SCPA SEN SHG SOLG SOM SUMO TM17 INCE TWD TRAK TRI VNET VTC ZOO ZTF
Eden Research has announced that its second biopesticide, Cedroz, has received full authorisation from the Belgian regulator allowing the product to be sold in that country. The authorisation covers the use of Cedroz on a wide range of crops and for use in greenhouse applications. The product will be marketed by Eden's commercial partner Eastman Chemical Company, which has commercial rights to a further 28 countries globally. We maintain our Buy recommendation.
Companies: Eden Research
Itaconix (LON:ITX) has issued a trading update for the financial year to 31 December 2019. The company is in an important commercial ramp-up phase for its sustainable speciality polymers used as functional ingredients in household and personal care products.Main features of the update include: (1)
Legalisation of online sports betting in the US will provide opportunities for AIM online gaming companies. The Supreme Court of the United States has decided to overturn the Federal prohibition of sports betting. The state of New Jersey argued that congress had exceeded its authority and the judges agreed. The US sports betting market, both onsite and online, could be worth $6bn by 2023, but individual states will have to enact legislation to enable online sports betting to commence in their territory.
Companies: AOR TYR SML STR MWE RNWH
Itaconix’ H1 trading update confirms further commercial progress has been made, with revenue increasing strongly year on year (+59% to £0.5m), in line with our expectations. The EBITDA loss of £1.0m represents a significant improvement on H1’18 (loss of £2.4m) and on H2’18 (loss of £1.4m), as revenue growth has been accompanied by cost reductions. As reported at the recent FY18 results, a number of commercial milestones have been met in recent months, on which we provide a brief recap within this note. Net cash at 30th June was £1.5m and the Board believes the Company remains on track to meet market expectations for the full year (revenue £1.5m, net cash £0.7m).
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
The company has published a significant RNS reach today announcing that it has gained a further important award with Airbus. The announcement states that its Hardide-A coating has been specified as the replacement for the use of the hard chrome plating (HCP) process on the Airbus A330 compression flap pads. This follows an earlier announcement by Hardide on 14 May 2019 that it had been specified for use on the Airbus A380, again for its compression flap pads. Today’s announcement is important and adds weight to the view that Airbus will roll out the Hardide coating across its different aircraft platforms, with anticipated additional contract awards offering further scope for outperformance.
Eden Research is a biopesticide company we see set to enter a period of strong product sales growth driven by expansion into new countries and new crop markets. The company has built a strong foundation of its proprietary encapsulation technology and natural pesticides which have been developed into regulator-approved products; one launched and a second close to market. With an underlying market expected to grow at high-teen rate and a favourable regulatory environment, we believe Eden Research offers a relatively unique opportunity to participate in a developing, growth market. We initiate with a Buy recommendation.
Companies: Eden Research
Eden Research has reported its half-year results to 30 June 2019. Revenues for the period were £0.58m, down versus H1/18A but impacted by £0.3m of product sales expected in June which slipped into July. Product sales were £0.45m, though adjusted for the ‘July sales', came in at £0.75m up on H1/18A. With an expected H2/19E weighting, Eden remains on target to meet our FY19E product sales forecast. The company delivered a strong ‘product' gross margin of 43.9% (H1/18A 29.8%) and admin expenses were controlled, though expected to increase in H2/19E. We maintain our Buy recommendation.
Companies: Eden Research
Itaconix has released a trading update indicating that full year revenue will be below previous expectations as a result of delays in certain customer projects. Full year revenue is still expected to represent a significant increase over 2018 revenues, last year’s figure of £0.7m being matched in the first three quarters of 2019. As a result, the EBITDA loss will be greater than previously expected but net cash forecasts for the current year end are little changed (reduced by £0.1m) as working capital management has offset the impact of reduced profitability. Despite the project delays, the statement highlights building commercial momentum and a confident outlook. We note the details of the revised FY19 expectations in this comment, but place forecasts under review at this stage until there is greater visibility over the outlook and particularly the rate of revenue growth in 2020.
Flowtech Fluidpower (FLO LN, £67m) Q3 19 trading update (30/09) sees +1.8% organic y/y sales growth YTD; “notwithstanding difficult market conditions…outlook for future growth remains positive” | Haydale Graphene* (HAYD LN, £4m) launches “graphene-enhanced prepreg material for lightning-strike protection” with potential in UAVs, commercial aviation, and space applications; developed in conjunction with Airbus UK, BAE Systems, GE Aviation and Element Materials Technology Warwick Ltd
Companies: Flowtech Fluidpower Haydale Graphene Industries
Full-year results were in line with expectations, with a significantly better H2 benefitting from better order flow from oil & gas customers and growth in other market sectors. The relocation of UK facilities is on track and there have been significant steps forwards in Aerospace, with both Airbus and Lockheed Martin awarding approval. We are reducing forecasts to reflect some additional costs ahead of anticipated increases in production.
Hardide’s patented technology enables metal components used within a wide range of high-end manufacturing processes to be coated with a thin layer of Tungsten Carbide. This coating significantly strengthens and enhances the operating performance of the component and hence, reduces operational downtime and extends the useful life. Recent significant capital investment in both Hardide’s UK and USA facilities is expanding its number of reactors from the current six to nine by the end of 2020. This capacity expansion combined with a diversifying and growing end customer base has positioned the Company for significant revenue growth and operational gearing.