Wickes to demerge from Travis Perkins and list on the Main Market. Expected 28 April. Advance Energy to complete an RTO on AIM indirectly acquiring up to 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51mm) will be used to fund
Companies: ARG ADT UKOG PHAR UNG CYAN FA/ SNX VRE SHED
The UK market showed a continued recovery in the first quarter albeit the indices are still well short of their all-time peaks, unlike many of their international peers. The FTSE 100 has risen by 1,186 points (21.4%) since the end of October and the FTSE 250 by 4,304 points (25.0%). The comparable performance since the start of the year is less spectacular- the FTSE 100 has risen by 253 points (3.9%) and the FTSE 250 has risen by 1,070 points (5.0%). The factors behind the sustained rally are fa
Companies: AMYT ARBB BPC BAG BVC BEG BONH BLVN BRSD CML CWK CRPR EYE ECHO FDM FAR FA/ GPH GSF HUW INSE JDG KAPE KP2 MACF MPAC MNZS NESF NBI OTMP OBD PREM QFI RUA SCS SEN SOS SUR TON TOU TXP TGL TCN UEM VLS WYN
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
The Budget offered a clear picture of the state of the economy. Put simply, the economy will be 3% smaller in three years’ time than it would have been without the impact of the pandemic. However, it is forecast to return to pre-pandemic levels by mid-2022, six months earlier than previously thought. The OBR forecasts that the UK economy will grow by 4.1% in 2021, (lower than the 5.5% outlined in November 2020). It has set its GDP forecasts in 2022, 2023 and 2024 at 7.3%, 1.7% and 1.6%. Positive
Companies: AMYT ARBB BPC BVC BEG BRSD BWNG CBOX CTG CLG CML CWK EYE ECHO EML ESC FBD FA/ GSF HTWS INSE JDG MACF MTW NESF NAVF NSF NBI OTMP PCF PPC QFI SAVE SEN SNX TGL UTL VLS WYN
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: IRR MKA GHH LEK POW KRM DRUM ODX FA/ ALBA
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
Companies: AJIT ARW BPC BVC BAG BEG BON BWNG CLG CRPR EYE ECHO EPWN FDM FA/ GPH GNC HUW INSE KAPE KP2 MNZS NMCN NRR OBD PPC QFI ROL SAVE SCS SEN SOS SUR SNX TON TMG TGL TCN UEM VLS W7L WINK WYN
We highlighted last month the (first) Santa Rally arrived early (unlike some other festive gifts). The second Claus(e) relief rally was prompted by the agreement between the European Commission and the UK on its future cooperation with the EU. Markets also reacted positively to the $900bn stimulus package agreed in the US. While the FTSE 100 and FTSE 250 indices rose by 1.6% and 1.7% respectively on the first trading day after the holiday and the FTSE 100 has recovered 28% from its low point in
Companies: AMYT ARBB BPC BVC BEG BWNG CGI CLG CML EYE ECHO EPWN ESC FA/ GDWN GSF GNC HUW INSE KAPE KP2 NRR NBI NUC OTMP PPC QFI RQIH RUA SAVE SEN SNX TOU TXP TGL UPGS
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. The Proof Of
Companies: DFCH CNIC BBSN TST BPM FA/ POW VOG PCIP SAE
FireAngel has reported interim results in line with its trading update with sales up 17.3% YOY to £20.7m. However, with the adoption of a more cautious approach on the sales cycle with respect to certain strategically key trials, we have reduced our forecasts for each of the next three years. The £6m fundraising completed in H1 2019 has allowed management to focus on delivering the return to profitability and we are encouraged it is still on track to achieve this in H2 2019. HOUSE STOCK
Companies: FireAngel Safety Technology Group plc
FireAngel has reported FY2018 results in line with forecasts, following the trading update on 31 January 2019. We have made no changes to our future forecasts save for introducing numbers for FY2021E. Today’s news of a £6m fundraising at 20p per share will allow management to focus on delivering the return to profitability. This will be achieved by increasing both UK Trade and International sales and improving manufacturing efficiencies. We have reduced our DCF-derived target price to 75p from 1
Network International Holdings—Pleading enabler of digital commerce across the Middle East and Africa region, operating across over 50 highly underpenetrated payment markets that contain a total population of 1.5 bn. 2018 rev $298m, underlying EBITDA $152m. Due April. No new funds to be raised. Secondary sell down. Targeting 25% of at least 25%.
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to
Companies: MWE IND SAVE MOS MCM AAU HUW BLVN FA/ PMG
Parliamentary and Brexit developments continue to hold centre stage, although the precise path forward remains as unclear as ever. The uncertainty over Brexit, worries over a possible slowdown in the US and the outlook for global economic growth generally have all contributed to the recent falls in markets. While the rally seen since the start of the year has petered out, most indices have still made progress. In Share News & Views we comment on Bloomsbury Publishing, Bonhill Group*, Braemar Shi
Companies: RUA APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LWRF LSAI NKTN PCF SNX TCN VRE W7L
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 1 March 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: FA/ CGNR MERC SAR IGP RCDO MYX EMH PHC SPI
Research Tree provides access to ongoing research coverage, media content and regulatory news on FireAngel Safety Technology Group plc.
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Gateley has released a very positive trading update, highlighting a strong conclusion to the year to 30th April. Revenue and PBT are both expected to be materially ahead of expectations, reflecting a highly supportive backdrop and the careful management of costs during the pandemic. We will update forecasts alongside the pre-close later this month and tentatively anticipate a mid-teens PBT/EPS upgrade. An interim dividend of 2.5p has been declared with a final to follow (total dividend expected
Companies: Gateley (Holdings) Plc
Ahead of results for the year to 31 March 2021 (FY21) due in June, a trading update for Appreciate Group (APP) indicates underlying results in line with market expectations, supported by the continuing positive trend in billings and despite an increase in profit deferral. In this note we provide an update on our forecasts and a detailed review of our fair valuation (60p per share), which looks through the near-term suppression of earnings by the pandemic and the cash flow effects of business mix
Companies: Appreciate Group plc
Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
Companies: BOKU RBGP MUL WATR GFIN MKA TIDE MNO INX TUNE
The financial impact from the restructuring and repositioning of the business last year was only partly felt in 2020. The entry into the US sports betting market will be fully manifest in 2021. At the heart of recent changes to the operating model lies a move to create a flexible engagement model that will drive superior returns going forward. We await further data points before reinitiating forecasts.
Companies: XLMedia Plc
Alphawave IP Group is considering an IPO on the standard listing segment of the London Stock Exchange. Alphawave IP is a leading semiconductor IP company focusing on the hardest-to-solve connectivity challenges created by the exponential growth of data. Funds and accounts managed by BlackRock, and Janus Henderson, have each entered into cornerstone agreements with the Company to subscribe for, subject to certain conditions, in aggregate, c. USD 510m of Offer Shares at an offer price representing
Companies: CCS JADE ARS RBD SNX EEE 4BB WATR IMMO VASTN
Ultimate Products has issued a very positive set of H1 2021 results to us, with strong revenue growth of 11%, coupled with increasing productivity (EBITDA margin +90bp to 11.6%), leading to >20% underlying EBITDA, CPTP and EPS growth. UP’s balance sheet is more than robust, with leverage a very comfortable 0.1x. A four-pillar growth strategy has broadened the Group’s growth channels, increasingly evident despite the challenges of Covid and the temporary closure of some customer stores. We put th
Companies: Up Global Sourcing Holdings PLC
Companies: KIBO ROCK VRCI K3C TOU ADT PCA ATYM IOM MJH
FRP is a UK-focused business advisory firm, specialising in corporate restructuring (administrations, liquidations etc), with a nationwide network and team of c360. In its AIM IPO, FRP raised £80m gross (£20m new) at 80p on a pre-money market cap of £170m to fund organic plans.
Companies: FRP Advisory Group Plc
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, intend
Companies: OHG MDZ PEG IQE RBN WHR HMI ANIC KOD GMR
Catena Group (CTNA.L) to complete reverse takeover and be renamed Insig AI and is acquiring the remaining shares of Insight Capital Partners. Insight, which is based in the UK, is a data science and machine learning solutions company that provides bespoke web-based applications, advanced analytical tools and modern technology infrastructure to make machine learning accessible to investment professionals. Insight has developed five products specifically aimed at accelerating an asset manager's d
Companies: SWG LOGP G4M SDG MTL GTC KWS ARK ANCR EME
Companies: ARE ERGO GDP EVG MIND SEE STAF ORCH IXI INHC
Anexo has reported good 2020 results with a solid performance considering the impact of COVID restrictions during the year and in line with expectations. Reducing competition in the market and easing of lockdown presents expansion prospects in 2021 and Anexo is excellently positioned to take advantage. Reiterate Buy
Companies: Anexo Group Plc
This is another strong update from WATR, again demonstrating (1) the strong demand for its product, (2) sales growth is powerful but margins are growing even more strongly, (3) momentum, already strong last year despite Covid, is accelerating further. In leak detection and related water services, WATR is the only player offering close to full coverage in the US national market, a major plus for insurance clients. An “essential service provider”, it has made the most of this status during the
Companies: Water Intelligence plc
Westminster Group has reported 2020 results albeit these have already been flagged at the trading update in early March. While COVID lockdowns have hampered efforts thus far in 2021 to secure new contracts, as restrictions ease, conversion of the pipeline should accelerate and support 2021 earnings. Reiterate Buy.
Companies: Westminster Group plc
PCI-Pal has performed exceptionally well through COVID in 2020 and looks set to deliver record results in FY21. On its current financial trajectory, we estimate it will break into a small (£0.4m) initial full-year profit in FY23 based on its existing UK/US oriented operations. However, management has identified an exciting land-grab opportunity in three large but underexploited regions – mainland Europe, Canada and Australia. We calculate that investing in sales and partner resources in these re
Companies: PCI-PAL PLC