Dish of the day Kistos (KIST.L) readmitted to AIM, following the Company's successful Equity Financing in connection with the Acquisition of Tulip Oil Netherlands. Tulip Oil has a portfolio of assets which include profitable, cash generative producing assets, plus exploration and appraisal assets. Tulip Oil has 19.5 mmboe of 2P reserves and has 102.1 mmboe contingent resources. Boanerges Limited (AQSE:BNRG), admitted onto the Aquis Stock Exchange. The Directors believe that an opportunity exis
Companies: ASMO DDDD EML EQT IES KEFI MHC PTRO ROL XTR
As midsummer’s day looms (where has this year gone?), there is greater optimism, in general, than may have been anticipated a few months ago. A post-pandemic, ‘vaccine-driven’ recovery demonstrated by increased consumer spending as lockdown measures are lifted has been one of the catalysts. The FTSE 100 has been range-bound in the last month 6,900-7,100. We have seen a combination of broadly positive company results across a range of sectors, further examples of M&A activity and a sequence of ne
Companies: AMYT ARBB ARW BAG BEG BONH BWNG CWK DNK EML EPWN FBD FA/ GPH GSF GNC HUW IGC INSE KAPE KP2 MMAG NRR NESF OTMP ROL RUA SEN SUR TON TOU TXP TGL VLS WINK
Sky News reports that a surge in pandemic-fuelled activity by homebound traders is propelling AvaTrade towards a London stock market listing that could value it at up to £700m. Established in 2006, AvaTrade is one of a number of platforms - including CMC Markets, Plus500 and IG Group - which enable their customers to trade contracts for difference. PensionBee, the online pensions provider, with a mission to make pensions simple, so that everyone can look forward to a happy retirement, conside
Companies: FA/ TYM PCF ROL SHED PRM TLY BMK CMET ADA
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 IP
Companies: SBI OCI IDOX ROL JAN BSE PXS SHED TSG KDNC
In the last fortnight, we have surrendered some of the notable progress made over the last three months. That said, the optimism displayed by markets, driven by progress with vaccines and their rollout, persists. The recent direction of markets has been set by volatility in US markets, driven by specific retail market developments. Domestically, we have seen a broadly upbeat procession of results and trading updates/outlooks have, generally, been at least in line. The share price reactions have
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Cenkos Securities plc has terminated coverage of Rotala Plc. Our previous recommendation (BUY) and forecasts can no longer be relied upon. Please contact Cenkos for further information.
Companies: Rotala plc
As a provider of essential services, Rotala has benefited from Government grants designed to ensure continued delivery of bus services which, together with actions taken to control costs, have allowed the group to generate positive monthly cash flow and EBITDA since May. Due to uncertainty around the pandemic's duration and its impact upon demand, we do not produce forecasts at this stage. However, we maintain our Buy recommendation, which is supported by (i) the Government's pledge to continue
Rotala has delivered a solid set of results for FY19A, which were largely in line with our forecasts (Adj EPS of 7.35p vs our 7.5p forecast). The importance of bus services have risen up the political agenda in recent months, and we expect the industry to attract increasing levels of government funding in the years ahead, which should support operators like Rotala. We reaffirm our Buy recommendation.
Rotala's trading update confirms the government will provide necessary financial support to bus operators to ensure the continuation of their essential services throughout the Covid-19 crisis. Given the uncertainty around when conditions will return to normal, we withdraw our forecasts. However, we maintain our Buy recommendation, believing that the company remains capable of generating profitability approximately in line with our prior FY20E forecasts once life returns to normal, and that even
Intention to float by Gemfields Group. No Capital Raise. Currently listed on JSE. (GML:JNB) at circa £122m. The Group's key producing assets, the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world), are both expected to have long mine-lives with potential for expansion. Also owns the Faberge brand. Due Valentines Day 2020.
Companies: KOD NKTN SAE ROL JAY HAT BLOE STX TPG GHE
Rotala has released a positive trading update for FY19E, confirming that trading was in-line with market expectations, and that FY20E had started well. With increased government focus on infrastructure spend in the West Midlands and the North West (which accounts for approximately two thirds of Rotala's revenue), including expected upgrades to the bus network, we see opportunities for Rotala to benefit in the years ahead.
Rotala has produced a robust set of Interim Results, with improved profitably YoY. We maintain our forecasts as trading remains in line with expectations. Trading on an FY19E P/E of 7.8x and offering a 4.8% prospective dividend yield, we feel the stock offers good value to investors. Buy.
Following the recently announced acquisition of a bus depot in Bolton from First Manchester, Rotala has raised net proceeds of £1.1m at 56p in a share placing to repay debt and strengthen its balance sheet. Buy.
The prospective £5.3m acquisition of a depot in Bolton from First Manchester strengthens Rotala's position, increasing its regional market share from 4% to 13%, and offering material synergy opportunities. This will be purchased using the Company's existing bank facilities, and is expected to be earnings accretive (c5%) in its first full year.
Airtel Africa Limited — provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa, looking to join the premium segment of the main market. Offer TBC, expected TBC 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
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Research Tree provides access to ongoing research coverage, media content and regulatory news on Rotala plc. We currently have 38 research reports from 4 professional analysts.
ITM Power is leading the world in PEM electrolyser manufacturing, and we believe it can use this to build sustainable advantage and grow market share in a rapidly growing hydrogen economy. The company is funded to add capacity and over time this should enable ITM to keep up with market growth to maintain a strong market share. The product is itself world leading which again creates competitive advantage. Demand itself appears secure with the IEA suggesting a major supply deficit by 2030. We init
Companies: ITM Power PLC
Strix has announced the commercial launch of two products Aurora, an appliance that dispenses instant hot and chilled water, and Dual Flo, a product with the usual characteristics of kettle but is able to deliver a single cup of boiling water. Both products fit with Strix’s sustainability strategy by saving water, energy, reducing the overall impact on the environment and bringing tangible benefits to consumers. The announcement is evidence of the organic growth strategy outlined at the Capital
Companies: Strix Group PLC
We see the UK Government’s Net Zero Strategy as being overall helpful but not especially definitive. Amongst our coverage group, Drax Group (DRX LN) and Velocys (VLS LN) benefit from the Humberside CCS cluster prioritisation and Velocys from SAF support. The amount of renewables is likely to boost the need for flexibility solutions where Drax, Gore Street (GSF LN) and SIMEC Atlantis (SAE LN) can benefit. Hydrogen companies ITM (ITM LN) and Powerhouse Energy (PHE LN) are likely to find support. T
Companies: ADN DRX GSF ITM NESF PHE SAE SIT STRLNG TLG VLS
What if the best solution for the energy transition were … nuclear power? Nuke is back at the heart of political debates in the context of the current energy crisis and massive but insufficient investments in renewables. This short review provides an overview of nuclear power in Europe and speculates on options. This ‘nuke optionality’, hinging on a favourable green taxonomy, is a game-changer for EDF, Centrica, Fortum but also Engie, Iberdrola, Enel and EDP.
Companies: Centrica plc
Oil posted the longest stretch of weekly advances since 2015 as OPEC+ producers only modestly supply the market and as US crude supplies shrink. Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe Biden said Thursday night that Americans should expect high gasoline prices to continue into next year because of supply being withheld by OPEC and other foreign oil producers. Stockpiles at the biggest US storage hub are draining to levels last seen when crude pr
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Joiners No joiners today. Leavers No leavers today. What’s cooking in the IPO kitchen? ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas company which has incubated and financially supported ATOME to date, by way of a dividend in specie and flotation. Devolver Digital to join AIM, an award-winning digital video games pu
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The group continues to experience strong underlying market conditions, with some supply chain shortages and transport constraints causing price rises. These issues are not expected to improve in the short term, but the group is confident of progress and results are anticipated to be in line with expectations. No change to forecasts. We retain our price target of 315p, which still offers good upside despite the strong outperformance by the shares over the year. The shares remain attractive on a s
Companies: Alumasc Group plc
Joiners Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m. Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
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Joiners Softline, the global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London, has issued GDRs to the Standard Listing Segment of the Official List, and on the Moscow Exchange. The Group had a turnover of US$1.8bn for the year ended 31 March 2021, employs c.6,000 people globally, and operates in more than 50 countries across emerging markets. Primary proceeds from the Offer are expected to be around US$400m. At the $7.5 offer price. Mkt
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Joiners No Joiners Today Leavers No Leavers Today What’s cooking in the IPO kitchen? Arrow Exploration Corp. (AIM: AXL ; TSXV: AXL) , the oil and gas exploration and production company, has conditionally raised approximately £8.8m and is due to complete its dual listing on AIM on 25 Oct. Market cap c£13.1m. Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz.
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LTHM announced the acquisition of the entire share capital of Sarcon (No 155) Ltd (“Sarcon”) and its subsidiary companies for ~£4.0m +/- a net asset adjustment.
Companies: James Latham 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
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
Companies: SigmaRoc Plc
Joiners Arrow Exploration Corp. (AIM:AXL; TSXV:AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has joined AIM, alongside a fundraise of approximately £8.8m. Leavers No Leavers Today What’s cooking in the IPO kitchen? ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas com
Companies: SPA ECR KP2 SAR SYM
