Research Tree provides access to ongoing research coverage, media content and regulatory news on ZOOM TELEPHONICS.
We currently have 0 research reports from 0
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 £7 million 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 IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this Spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Auction Technology Group is considering an IPO on the Main Market. The Group operates six world-leading online Marketplaces and proprietary global auction platform technology for curated online auctions . In FY20 the Group delivered pro forma revenue of £52.3 million, supported by notable underlying year-on-year growth from both Standalone ATG Group and Standalone Proxibid Group (12.4 per cent. and 40.4 per cent., respectively). For the same period, the Group delivered a strong profitability performance of £22.3 million pro forma Adjusted EBITDA representing a pro forma Adjusted EBITDA margin of 42.6 per cent. Expected March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. 4basebio UK Societas is a specialist life sciences group focused on therapeutic DNA for gene therapies and DNA vaccines and providing solutions for effective and safe delivery of these DNA based products to patients. The Company has been divested from 4basebio AG , a German company listed on the Prime Standard segment of the Frankfurt Stock Exchange . No capital to be raised on Admission. Anticipated market capitalisation on AIM Admission: £14.53m.
Companies: SAR PAF PTRO NEXS TYM BOD CLX FAB ODX DUKE
Calnex Solutions has today confirmed that the strong levels of customer spend experienced during H1/21 have continued into H2/21. Consequently, with FY21E revenue and profitability both anticipated to be ahead of market expectations, we have upgraded our FY21E revenue and adjusted PBT forecasts by 12.6% and 18.9% to £17.3m and £5.1m, respectively. Calnex has firmly established a trusted reputation worldwide, launching multiple first to market telecoms and network testing solutions. The exponential growth of data creation and secular migration of industries to cloud computing along with the long-term transition of the telecoms industry to 5G are long-term drivers of demand for high value test instrumentation. Calnex is progressing its growth strategy expanding both R&D and sales capacity to capture increased market share within this substantial and growing global market.
Companies: Calnex Solutions Plc
CAP-XX Ltd* (CPX.L, 11.0p/£48.6m) | ECSC Group plc* (ECSC.L, 75p/£7.5m) | MTI Wireless Edge Ltd* (MWE.L, 81p/£71.7m)
Companies: CPX ECSC MWE
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 JET2 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 SRE PHC PMO RBW RMM RBGP RSW RNO ROR SUS SCPA SEN SHG SOLG SOM SUMO TM17 INCE TWD TRAK TRI VNET VTC ZOO ZTF
The Interims are as announced in the October update; H1 2021 was better than expected considering the lockdown and leaves SRT well positioned to benefit from meeting Systems delivery milestones, receiving major cash payments and signing new contracts in H2. As last year, H1 revenues are just from Transceivers, with no Systems milestones booked in the period. Last year, that was a quirk of timing in project deliveries, but this year Systems deployments were paused due to the pandemic. Despite global lockdowns, the Transceiver business is growing impressively on the back of new products and channels. Meanwhile, Systems recommenced delivery of the Philippines BFAR system and awaits news on three major contracts in the Middle East, expected to be signed and started this H2. Importantly, the group cash position is strong; £8.5m of Systems payments and the £5.3m April refinancing left gross cash of £5.0m at September; vital for working capital to deliver the Philippines project, which continues to make solid progress. Otherwise, investors await the anticipated new Systems contracts currently in negotiation. The fundamental demand drivers for Maritime Domain Awareness (MDA) systems remain undiminished and the validated sales pipeline remains firm at 17 new contract opportunities totalling £550m.
Companies: SRT Marine Systems plc
Following the formal end of takeover discussions, we are able to recommence our coverage of Telit. Today’s trading update reveals Telit has performed very well through a year overshadowed firstly by the restrictions of the COVID pandemic and then by the distractions of potential bids. When the pandemic began in early 2020, Telit was able to act quickly and decisively, moving some 850 employees to home working within a few weeks. Although customer demand naturally slowed, operations have continued uninterrupted throughout the period and the business has displayed great resilience. We take this opportunity to reissue forecasts for FY20 and FY21 and set a near-term target price of 345p based on 14x EV/EBITDA, in line with the current average on the finnCap tech indices.
Companies: Telit Communications S.p.A.
BBB has announced that it is expanding into New Zealand from its highly successful Australian hub. It has signed an exclusive agreement with satellite operator Kacific to resell capacity on the Kacific1 satellite in New Zealand, and if there are attractive opportunities, BBB could also expand into neighbouring countries with Kacific. In New Zealand, BBB will offer download speeds of up to 75 Mbps to over 100k premises that are outside of the country’s fibre rollout due to its challenging topography. By leveraging BBB’s extensive experience launching and scaling satellite operations in Europe, and the capabilities of an Australian team that has driven the Australian operation to be awarded the Best Satellite NBN provider in 2019 and 2020, we conservatively forecast that BBB will grow to 3k New Zealand subscribers in FY22. This generates £2m of revenue in FY22, and we upgrade our group revenue forecasts by +2% in FY21 and +5% in FY22. To deliver this growth BBB will invest up to £1m, and we reduce our FY21 and FY22 group EBITDA by £0.3m, or 4% in FY21 then 3% in FY22. BBB then expects to breakeven in the last quarter of FY22, and our FY23 EBITDA and EPS would be correspondingly higher due to the impact of New Zealand. For BBB’s Australasia division, we now expect organic revenue growth of +19-20% in FY21 and FY22, with EBITDA and OpFCF of over £3m pa. Valuing just the Australasia asset at a 5% FCF yield would imply a valuation of £60m, or BBB’s current market cap, before adding the value of Quickline and the Nordics. As BBB focuses on creating shareholder value across its three core assets, it trades on 12-month forward EV/EBITDA of 10x with 25% EBITDA growth, and looks undervalued relative to peers on 12-16x EV/EBITDA with 9-10% EBITDA growth. We look forward to hearing more about BBB’s momentum at FY20 results in March.
Companies: Bigblu Broadband plc
The EBITDAaL was eventually down by 1% yoy but should have grown by 3.2% excluding the COVID-19 impact.
Despite this solid performance and the return to normal of its dividend, the stock is still languishing 20% below its pre-pandemic levels.
At first investors were also quite circumspect about Orange’s determination to keep its new towers company within the scope of the group. But later, Stephane Richard made it clear that Orange won’t go it alone in the towers space.
Companies: Orange SA