Mercantile Ports and Logistics (MPL) has conditionally raised gross funds of £10.1m through an institutional placement and will be supported by the major shareholder, Hunch Ventures. Equity raised will be used to service new and existing contracts/business development and strengthen the balance sheet. In addition to the placing, Hunch Ventures has provided an unsecured loan facility of £4.4m. MPL's port is well positioned to benefit from the positive economic outlook in India due to its offering
Companies: Mercantile Ports & Logistics Limited
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Leavers: Urban Exposure has left AIM pursuant to a solvent members' voluntary liquidation.
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Seraphim Space Investment Trust PLC, a newly established closed-ended investment company which will invest in a diversified international portfolio of early and growth stage Space Tech businesses, announces the publication of its Prospectus in connection with the IPO to the Premium Segment of the Main Market. The Company is targeting gross pro
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The Group continued to gain revenue momentum, commencing the £5.5m, 40-month Tata/Daewoo contract on 1 April 2020. Additionally, management implemented a strict cost reduction strategy, enabling robust cash management. As a result, the Group had access to cash of £17.9m at period end, comprising of £7.8m cash and £10.1m of undrawn facility.
The continued build out of the port enabled commercial operations to commence and maiden revenue to be generated. The Group's access to cash at year end was strong (£27.6m) and with management acting decisively in response to COVID-19, remained robust post period end (£16.8m). This combined with winning the Tata/Daewoo contract positions the Group well to expand its contracted customer base, convert pipeline customers and increase utilisation rates.
The Indian Government and Reserve Bank of India has announced several relief packages to combat the adverse impacts of COVID-19 and the lockdown implemented last week. The lockdown encompasses all non-essential industries and has resulted in Mercantile shutting down operations. As a result of the current market uncertainty, we are withdrawing our forecasts from the market and move our recommendation to Under Review until macroeconomic conditions stabilise. We believe the long-term prospects for
The outlook remains positive for Mercantile Ports with stronger revenue generation expected in FY20E. Relationships with pipeline customers are progressing and remaining positive but are taking longer than anticipated to finalise. This is due to the long-term nature of the contracts resulting in both parties looking to ensure favourable terms.
The successful fund raise of £30m in Dec-18 allowed Mercantile Ports to progress the build out of the port making it operationally ready. Mercantile is now revenue generating and has further progressed pipeline contracts with at least two new customers planning to utilise the port in H2/19E. Post period-end a further contract was secured with Tata Projects Limited and Daewoo Engineering worth £5.5m.
AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019
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The build out of the port has substantially progressed and is now capable of supporting operations from both contracted and pipeline customers. The first vessel was received and they gained Customs approval from the Ministry of Finance. Additionally, they secured a 20-year lease extension (taking its maturity to 2059) and an option to double the size of the originally proposed port. Despite this progress, delays to receiving customs approval have pushed back the expected start date of operations
Mercantile Ports & Logistics (MPL) has announce a £27.75m conditional fund raise. The raise is expected to fund the project to completion and we issue forecasts inferring that MPL will achieve profitability in FY19E. After significant investment in developing a competitive advantage, through the elimination of regulatory risk and commencement of operations, we believe that investors stand to benefit from increasing cash flows into the future. MPL trades on an FY20E EV/Sales of 1.8x, which we bel
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
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In light of today’s trading update, we are placing our forecasts and recommendation under review. Any previous recommendation and forecasts cannot be relied upon.
Today's update has reassured investors with the news of its second cargo management contract at its new Mumbai site
Clean Invest Africa—Introduction due around 14 Nov. Vehicle established to identify investment opportunities and acquisitions in renewable and clean energy projects/companies or alternative technologies that are used in a socially and environmentally responsible way that will aid the development of the African continent,
Boku - Independent direct carrier billing company. Revenues were up 21% to US$10.2 million in HYJun17 . Q32017, revenues grew to US$6.5m, up by 44% . The Company also saw conti
Companies: NAR OTC MPL HAT CSSG TOT SVCA MAGP URU AST
Mercantile Ports & Logistics (MPL) has announced interim results to H1/17, indicating that project works continue to progress on schedule and in line with management’s projections. Continued reclamation works drove a loss before tax of £1.6m for the period with reported net debt of £16.7m – this in line with our full year expectations and hence 2017E remains unchanged. We maintain our view that, as the current valuation of the Group is minimal relative to the potential upside, the recent weaknes
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The forthcoming UN Climate Change Conference (known as COP26) should result in an acceleration of governments’ actions to reduce CO2 emissions. This will result in an acceleration of customer end-user adoption rates which would be positive for AFC Energy which is developing zero-emission solutions for the EV-charging, construction, data centre and marine markets.
Companies: AFC Energy plc
ITM yesterday announced a capital raise of £250m to expand its capacities significantly. This comes sooner than we expected and seems like an opportunistic move to capture the market. The company will use the proceeds to expand its capacities to 2.5GW from 1GW by 2023 and to 5GW by 2024. The remainder of the proceeds will be used to reduce H2 production costs and to build an unparalleled support service. Overall, we are positively surprised.
Companies: ITM Power PLC
Another record quarter – Guidance lifted again
Capital Limited LSE: CAPD) this morning announced its Q3 2021 trading update. Quarterly revenue of US$$61.6 million exceeds our expectations and represents another record quarterly result for the company beating Q2, itself a previous record, by 12.6%. As a result, full year guidance has been lifted to $220 – 225 million (up from $200 – 210 million guided in July and $185 – 195 million with the FY20 results).
Companies: Capital Limited
Avingtrans has invested £2.5m in cash in Adaptix Ltd to acquire a 5.9% holding by participating in Adaptix’s latest £12.9m funding round. Adaptix is looking to transform radiology by bringing to market its low cost, low dose portable imaging technology based around its proprietary Flat Panel X-ray Source (FPS). Avingtrans intends to collaborate with Adaptix to develop a disruptive business offering that envisages bringing together its low cost 3D MRI, through Magnetica, with Adaptix’s 3D X-ray a
Companies: Avingtrans plc
Seeing Machines, the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has announced that it has established a European sales team, headquartered in Amsterdam, to lead the next phase of its business development and focus on growing demand in Europe for its Aftermarket driver safety technology, Guardian.
Gerard van den Houten has been appointed to head up the European team and comes to Seeing Machines with a strong sales
Companies: Seeing Machines Limited
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Cambria Autos has left the AIM following a takeover.
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Light Science Tech Holdings, the controlled environment agriculture technology and contract electronics manufacturing Group to join AIM. Raising £5m. Expected mkt cap £17.4m. Due 15 Oct.
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive and susta
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Several stars have aligned for Brickability to flag an excellent half year's trading (to end Sep-21) in its latest update. Post-COVID recovery in housing markets, the natural seasonality of the business, favourable timing of acquisitions (notably Taylor Maxwell), output price inflation (especially in timber) and business mix all combining to drive revenue to three times the reported H1/20 level and EBITDA twofold ahead. This sets a strong foundation to ratify existing FY21 (March) forecasts with
Companies: Brickability Group PLC
Avon Protection has indicated that management guidance for FY21 revenue and EBITDA margin has been achieved before an additional one-off, non-cash inventory write-down of around $4m in ballistics. Cash generation was better than anticipated after record levels of investment and order intake remained strong despite previously indicated pandemic delays. The healthy opening backlog underpins strong growth in FY22 as ballistics revenues ramp up, Team Wendy makes a full year contribution and EBITDA m
Companies: Avon Protection PLC
Light Science Tech Holdings (LST.L), the controlled environment agriculture technology and contract electronics manufacturing Group has joined AIM. Raising £5.2m. Market Capitalisation approximately £17.4m.
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Gymshark has started to put together plans for a stock market listing according to City A.M. The company hit a £1bn valuation just over a year ago and boasts customers in more than 130 countries. Gymshark was founded by teen
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Brent crude topped $85 a barrel in London for the first time since 2018, the latest milestone in a global energy crisis that has seen prices soar.
West Texas Intermediate for November settlement rose 97 cents to settle at $82.28 a barrel in New York.
Brent for December delivery added 86 cents to settle at $84.86 a barrel.
The global benchmark rose above the key level in intraday trading but did not settle above it on Friday. US crude futures posted an eighth straight weekly
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TMT Acquisition (TMTA.L) has joined the Main Market (Standard) pursue opportunities to acquire businesses in the technology, media and telecom sector. Raised £5m, mkt cap £5.5m.
NMCN Plc has left the Main Market (Premium) following the appointment of administrators.
What’s cooking in the IPO kitchen?
Harmony Energy Income Trust to join the Specialist Fund Segment of the Main Market raising up to £230m. The Company's investment objective is to provide investors with an attractive
Companies: SEE FST ORCP DNL FDBK 8091 IGP
Imperial Helium (IHC CN)C: Smaller resources but good well test results could suggest a commercial development – At the IHC-Steveville-2 well, a 12 metre zone was tested at a rate of ~2 mmcf/d. This zone is an interval equivalent to the blow-out zone in the offsetting 13-22 well. While the headline flow rate might appear low, it is in reality a good result that suggests that the well can be brought into production at 5-6 mmcf/d at leas
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Companies: DeepMatter Group Plc
Directa Plus, the leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, has announced that it has qualified for an additional €0.5m loan under the Italian Government's Covid-19 Recovery Plan. The funds are additional to the €0.7m loan announced on 2 August 2021. The €0.5m loan has a term of six years, a variable interest rate of 1.5% + EURIBOR 3M and is 80% guaranteed by the Italian government.
Companies: Directa Plus Plc
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
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