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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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
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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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AFC Energy has announced that its “S” Series hydrogen fuel cell system and ammonia cracker have been selected for the Norwegian ZeroCoaster bulk cargo ship design. The proposal has also been awarded “Approval in Principle” status by DNV, the international certification agency. The announcement is another significant endorsement of AFC Energy’s technology and the group’s biggest step forward in Maritime. This is further endorsement of our investment thesis, which was refreshed in September, which
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Friday's market sell off saw some violent downward moves in many stocks with little initial differentiation between sectors or the key drivers of businesses, creating significant share price drops in a number of higher quality or uncorrelated names. We take a look at some stocks we believe have either seen an unwarranted sell-off, have seen weakness go under the radar or where there is now a more attractive opportunity.
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Fulcrum has delivered a reassuring trading update, confirming it continues to trade in-line with FY22E forecasts, as evidenced by disclosed headline interim results. This comes despite recent turbulence in the UK's energy marketplace, which has not impacted Fulcrum's progress, including its recently established smart metering business. Given a 22% decline in the shares this month, opportunistic buyers should see value as forecasts remain unchanged and the stock now trades at book value and a his
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Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
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Powerhouse has seen early benefits from the agreement signed with HUI in October with this progress on a new project site in Bulgaria. Details have still to be agreed but we see the project as an example of further international demand for the company’s waste to hydrogen technology.
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A stellar financial performance in the first half shows Brickability at its best, delivering growth from organic and acquisition sources, gaining share and strategically, and importantly, continuing to diversify and de-risk the business by broadening its product ranges and customer depth. Whilst the half has been an extraordinarily favourable one in comparative terms and our instinct is to believe that forecasts can be beaten going forwards in both the short and medium-term from the enhanced pla
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i(x) Net Zero, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to join AIM. Following Admission, the Company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide work
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LTHM announced exceptional results for H1F22 ended 30 September 2021. H1F22 revenue reached £193.9m, +81.2% over H1F21 of £107m. This is notably a stellar first half driven by demand-supply imbalances in global markets that have resulted following the pandemic. Resulting PAT of £26.6m translates to EPS of £1.335 vs. £0.256 in H1F21.
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While there remains considerable uncertainty over the planning and permitting of the Uskmouth power station conversion there have been a couple of recent pieces of good news for SIMEC Atlantis in our view. Inclusion of waste-to-energy in the carbon capture support model is potentially positive for Uskmouth and may increase its political attractiveness to the Welsh Government as they consider permitting. The ring fencing of CfD support for tidal steam in the next allocation round opens up the pos
Companies: SIMEC Atlantis Energy Ltd.
Oil prices suffered one of the largest ever one-day plunges, crashing more than 11% on Black Friday as a new coronavirus strain sparked fears that renewed lockdowns will hurt global demand. The crash, the 7th largest ever for Brent crude, the global oil benchmark, may prompt the OPEC+ cartel to re-consider its policy when it meets next week, with the group increasingly leaning toward pausing its output hikes. The sell-off was amplified by low liquidity on a festive day in the US, the breach of s
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Against the backdrop of the 26th UN Climate Change Conference of the Parties (COP26) we take a closer look at the rapidly developing technology and industries surrounding the evolution of the so-called hydrogen economy. Hydrogen is an energy vector or fuel that is capable of storing, transforming and transporting energy with zero emissions at the point of use. It can also be made by renewable energy sources. It is also the most abundant element in the universe accounting for some 75% of all matt
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Last week, as part of Diversified's Capital Markets Day, CEO Rusty Hutson and the Diversified senior leadership team provided investors with an in-depth overview of the Company's strategy and operations, with a specific focus on the Company's Environmental, Social and Governance (ESG) initiatives. Some of the key takeaways include US$15m of additional investment from 2022 on emission reduction activities and equipment. Mid-term plans (2023-2026) include plans to curb Scope 1 methane emissions in