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Breakfast News - FFI Holdings, Landore Resources, Sosandar, Time Out Group and others

Published: 07:10 11 Dec 2017 EST

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AIM

Erris Resources PLC—a mineral exploration and development company currently focused on two geographic areas. Offer TBC, expected 21 December 2017

CIP Merchant Capital—Closed ended investment Company. Sector focus oil & gas, healthcare, pharma, and real estate. Offer TBA. Due 21 Dec

Panthera Resources— The Company was established to act as a holding company for Indo Gold Limited, an unlisted Australian registered company. The Company aims to explore and develop gold assets in India and West Africa. Offer TBC, expected 20 Dec

Sumo Group—one of the UK's largest independent developers of AAA-rated video games providing both turnkey and co-development solutions, including initial concept and pre-production . Offer TBC. Due late Dec

Pelatro—provider of proprietary software solutions to enterprise-level customers for various aspects of precision marketing for use in B2C applications. Offer TBC, expected 19 December 2017

Fusion Antibodies—contract research organisation providing services to biopharmaceutical and diagnostics companies that are involved in the development of antibodies for both therapeutic drug and diagnostic applications.  Offer TBA. Due Mid Dec.

Sirius Petroleum—RTO. Becoming an operating company in the Ororo Field in Nigeria. Raising £7.2m/ Mkt Cap £35.6m.  Due 19 Dec.

Bushveld Minerals—RTO of Bushveld Vametco and therefore 78.8% of Strategic Minerals Corporation, the intermediate holding company that owns a 75 per cent. interest in the Vametco Vanadium Mine.

Range Resources— oil and gas company listed on the ASX plans to admit to AIM on 13 Dec with mkt cap of £17.4m. Acquiring Range Resources Drilling Services Limited, an oil services business based in Trinidad & Tobago  with extensive drilling capabilities. 

Eqtec—Company with access to a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity.  Raising £1.6m. Mkt Cap £8.7m. Due 21 Dec.

Volex VLX.L—The global provider of cable assemblies is proposing to move from the main market to AIM on 19 January. £71m market cap. FYMar18E rev £241.5m and £7.19m PBT

Miriad Advertising—Global video advertising company incorporated in 2015 and is engaged in the development of native in-video advertising. 2016 rev £0.7m and £7.3m operating loss. Offer TBA. Expected 19 Dec.

OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m.

Main Market Specialist Fund Segment

Sure Ventures –Raising  up to £50m at £1. Focus on FinTech, IoT and Augmented/Virtual Reality. Due 22 Dec.

Tufton Oceanic Assets  -  intends to invest in a diversified portfolio of secondhand commercial sea-going vessels . Aiming to raise over $100m. Due 20 Dec

Main Market Standard Listing

Shefa Yamin minerals company focused on the exploration for precious stones in Northern Israel. Net Proceeds will be used to advance the Company's mining project. Offer TBA.

Main Market Premium Listing

GEMS Education—report by Reuters that the private schools group is seeking a $4.5bn to $5bn London float in 2018. FYAug17 rev $926.2m and adjusted EBITDA $261.6m.

Greensphere Capital -$500m raise.  Aims to provide Shareholders with an attractive yield from a portfolio of sustainable infrastructure assets diversified by geographies and sectors and to realise long-term growth  capital value.  Due 20 Dec

Vivo Energy—The Africa-focused company, which operates around 1,800 Shell forecourts across 16 countries  reported by City A.M. to be preparing for a London float next year

Aberdeen Standard European Logistics Income—Investment Trust targeting £250m raise. Investing in a high quality portfolio of European logistics assets. Due 15 Dec.

Aviva Investors Secure Income REIT  - Targeting £200m raise. Will invest in a diversified portfolio of high quality, long-lease commercial real estate assets located within the UK and leased to predominantly investment grade tenants. Due 15 Dec.



  
 
    
 
 
Breakfast buffet

Cadence Minerals (AQSE:KDNC) 0.275p £21.6m

Binding investment agreements with Lithium Technologies Pty Ltd and Lithium Supplies Pty Ltd ("The Vendors") to acquire up to 100% of six prospective hard rock lithium assets in Argentina. These transactions mark the start of the Company's strategic shift to earn in to early stage lithium assets in well-known lithium jurisdictions where we see the potential to deliver shareholder value by investing in projects that have shorter development timeline to cashflow than a typical lithium carbonate producer. The Vendors have claims over 55,773 hectares for six exploration permits within the known spodumene bearing pegmatite fields in San Luis Province, Central Argentina. Will acquire up to 49% by spending £1.1m on exploration and drilling, and by issuing £0.4m  of shares.

AorTech (LON:AOR) 23.75p £1.32m

“The biomaterials and medical device IP company, announces that the Foldax Defendants and the Company have amicably resolved their dispute and the terms of settlement have been incorporated into a confidential settlement agreement.

Bill Brown Chairman of AorTech, commented: "I am pleased to announce this settlement agreement which brings to an end the ongoing dispute. We now look forward to focusing on developing AorTech's IP assets."

Faron Pharma (LON:FARN) 825p £240.6m

The clinical stage biopharmaceutical company, announces that it has completed recruitment, on track, for its Phase III INTEREST trial of Traumakine® for the treatment of moderate to severe Acute Respiratory Distress Syndrome (ARDS).

In addition to the completion of recruitment, the Company reports that it has adopted recommendations from the INTEREST trial's Independent Data Monitoring Committee  and Steering Committee  to present patient data showing blinded ARDS outcomes (mortality/ morbidity) at 90 days (D90), in addition to the day 28 mortality endpoint. Outcomes at D90 are widely recognised to be as important clinically when judging the benefit of treatment alongside the D28 data.

Landore Resources (LON:LND) 2p £16.72m

Updated Mineral Resource estimate for the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada.

BAM East Gold Resource increased to 400,000 ounces gold at 1.37 grams/tonne (g/t) of which 326,000 ounces gold is in the Indicated category.  

“Landore Resource's work programme in 2018 is aimed at further growth of the BAM East Gold resource to greater than one million ounces gold, completion of a Preliminary Economic Assessment (PEA) on the Junior Lake Project and the discovery of further gold deposits along the 31 kilometre, highly prospective Junior Lake Shear".   

Yu Group (LON:Yu.) 810p £113.8m

“The independent supplier of gas and electricity to the UK corporate sector, announces that it has been granted a licence by regulator Ofwat to enter the retail and commercial water market. The Company intends to supply water services for the business sector only and will trade under the Company's newly formed subsidiary, Yü Water Limited.

 

Yü Group decided to launch Yü Water following the de-regulation of the water retail market in April this year, the largest market of its kind in the world. The licence will allow Yü Water to buy wholesale water services and offer these services together with its energy services to develop bespoke packages to suit the individual business needs of its customers.” FYDec17E rev £40.25p and £2.55m PBT, yield c. 0.4%.

Vela Technologies (LON:VELA) 0.78p £5.6m

The investing company focused on early-stage and pre-IPO disruptive technology investments, notes the recent press coverage regarding Portr Limited, trading as Airportr, the London based travel technology start-up, which has partnered with American Airlines to allow check-in of luggage for its flights from London. This follows the partnership previously announced with British Airways.

Vela has an interest in 125,619 shares in AirPortr, equivalent to 3.7% of AirPortr's issued share capital.

FFI Holdings  (LON:FFI) 153p £240.3m

The specialist in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product, announces today that it has acquired Buff Dubs Pty. Ltd. one of Australia's most innovative post-production services companies with technology leadership in encoding, transcoding, media duplication and mastering.

In the trailing 12 months, Buff Dubs generated A$4.3m in revenues and EBITDA of A$881,000. FFI is purchasing 100% of Buff Dubs on an instalment basis, with an initial payment of A$1.65m in cash followed by 5 annual payments of 12.5% of Buff Dub's EBITDA at a 4 times multiple.

FYMar18E rev £50.66m and PBT £19.01m.

Plus500 (PLUS.L) 950p £1,082m

The “online service provider for retail customers to trade CFDs internationally, is pleased to announce that the Monetary Authority of Singapore has granted Plus500SG Pte. Ltd. a Capital Markets Services licence for dealing in securities and leveraged foreign exchange trading.

The grant of the Capital Markets Services licence reflects the scalability of the Company both from a business and a regulatory point of view and is in line with the Company's strategy to add new licences in order to expand its customer base globally and diversify its geographical revenues.”

FYDec17E rev £288.2m and PBT of £168.4m, yield c.7%.

Time Out Group (LON:TMO) 133.5p £178.04m

The global media and entertainment business, has signed a conditional lease agreement for a new Time Out Market in Chicago. Anticipated to open in 2019. The stand-alone, two-storey brick building is at the heart of the Fulton Market District, one of the oldest meatpacking and food distribution centres in the city going back to the 19th century. Today, this is one of Chicago's thriving neighbourhoods attracting high footfall with its restaurants, bars, shops, galleries and hotels as well as offices occupied by some of the world's leading companies. Footprint of circa 50,000 sq ft, accommodating almost 600  seats.

FYDec17E rev £45.3m and £19.26m pre-tax loss.

Sosandar (LON:SOS) 19.7p £21m

The online women's fashion retailer, is pleased to announce that trading since 31 August 2017 to the end of November has exceeded management expectations.  The new funds raised at the time of the reverse takeover on 2 November 2017 are enabling the business to acquire larger and wider ranges of product and has also enabled the business to accelerate its media and marketing activities. Investment in new marketing channels has yielded strong results and will be further expanded in order to drive new customer acquisition.

We could see no forecasts.

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