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What’s cooking in the IPO kitchen?
Parsley Box, the direct to consumer provider of ready meals to the 60+ demographic, recently announced its AIM IPO plans. Parsley Box provides ready meals, which are not required to be stored in a fridge or freezer, have a shelf life of up to six months and are cooked in minutes. The company reported revenue of £24.4m for the financial year ended 31 December 2020 (unaudited). Deal details TBC and admission is expected to occur late March/ early April 2021.
Caerus Mineral Resources, a London based exploration and resource development company focused on developing mineral resources in Europe, recently announced the acquisition of New Cyprus Copper P.A. Ltd and its intention to IPO onto the Standard List. The NCC Acquisition provides Caerus with access to copper – gold exploration licences in the Republic of Cyprus. The company has raised circa £2.25m by way of placing and subscription. First Day of Dealings expected 19 March 2021.
Proposed move to AIM from the main market (standard) by Emmerson (EML.L) to provide Emmerson with access to a market and environment which is more suited, in the Board’s view, to the Company’s current size and strategy ahead of pivotal period for the Company with the commencement of mine construction at the Khemisset Potash Project expected by end of 2021. Follows recent award of Mining Licence granting Emmerson exclusive right to develop and mine the potash deposit and £5.5m raise to fund ongoing project development work. Subject to EGM on 21st March.
Rogue Baron plc have announced its application for admission to the AQSE growth market. Rogue Baron owns five subsidiaries, namely: Shinju Spirits, Inc., Shinju Whiskey LLC, Mazeray Corporation, STI Signature Spirits Group LLC and Legacy Retail Group LLC. The Company’s goal is to build each of its brands that makes them a buyout target. Deal size TBC an expected admission date 12th March 2021.
Global review platform, Trustpilot has announced its intention to float on the premium list of the LSE. Trustpilot provides an open platform, which creates a place where businesses and consumers can gain actionable insights and collaborate. Consumers are able to share feedback, at any time, about any business with a website and review feedback left by other consumers. Total revenues were US$64.3m, US$81.9m and US$102.0m for the years ended 31 December 2018, 2019 and 2020, respectively. The Offer would comprise new Shares to be issued by the Company (raising gross proceeds of approximately US$50m to support Trustpilot’s growth plans and repay indebtedness) and an offer of existing Shares to be sold by certain existing shareholders, directors and employees. Timing TBC.
In The Style, the e-commerce womenswear fashion brand with an influencer collaboration model, announces their intention to float on AIM. In The Style is a pure-play e-commerce fashion brand with a l customer base of women predominantly aged between 16 and 35. Founded in 2013, the group has delivered £35.4m net sales and £3.6m Adjusted EBITDA in the nine months to 31 December 2020, with sales up 159% from £13.7m for the nine months to 31 December 2019. Admission is expected to take place on or around 17 March 2021. Deal size TBC.
Media reports video game firm, Catalis is mulling a London IPO, just over a year after being bought by a private equity firm. Catalis’s accounts are reportedly expected to show revenues increasing to £60m in 2020, up from £43m, with adjusted earnings of £15m. Deal details and timing TBC.
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 IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021.
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.
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.
Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company.
Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT’s investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance.
According to media reports, Deliveroo is expecting to release its IPO plans on 8th March. The company, said to be targeting a valuation of up to $10 billion, intends to opt for a dual-class share structure for three years after the listing, meaning Deliveroo’s founders could retain extra voting rights for that period.
Cerillion 430p £127m (LON:CER)
The billing, charging and customer relationship management software solutions provider, announced that a major Channel Partner relationship has yielded its first contract, worth £5.0m, with a publicly owned network operator in the Middle East.
The five year agreement is part of a broader contract for telecoms and network products and services. Cerillion’s Enterprise BSS/OSS Suite, the Company’s pre-integrated end-to-end CRM and billing solution, will be used to support a broad range of fixed-wire and mobile services, including fibre and Internet of Things, for B2B and residential customers. The Company believes that the contract will help to underpin existing market expectations and that there is potential for further expansion of the contract in due course.
Implementation work has already commenced and is expected to take 12-18 months. As this is the first such deployment through this Channel Partner, Cerillion is remaining closely involved with implementation.
Cohort 619p £254m (LON:CHRT)
The independent technology group, announced that its subsidiary Marlborough Communications Limited has been awarded three new contracts with the UK MOD with a combined value of approximately £9.2m.
The contracts involve new partnerships with IAI ELTA Systems Ltd in unmanned ground vehicles and Rohde and Schwarz in the area of electronic intelligence. Deliveries will commence in the Group’s current financial year and continue through into 2022, with the majority of revenue falling in financial year 2021/22.
The potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located within the Republic of Congo, announces that the Company’s Chief Financial Officer, Mr Andrey Maruta, has informed the Board of his intention to leave Kore Potash in order to accept a position at another company.
Andrey was appointed to the role of Chief Financial Officer on 30 August 2019 and on 10 March 2021 notified the Company of his resignation. Andrey will continue to work as the Company’s Chief Financial Officer through his contractual notice period of 3 months. His last day of employment will be 10 June 2021.
During Andrey’s notice period the Company will commence the process to select his replacement and will update shareholders on the new appointment in due course.
Tandem 540p £27.3m (LON:TND)
The designers, developers, distributors and retailers of sports, leisure and mobility equipment, announces the acquisition of freehold land adjacent to its Birmingham headquarters.
The Company has exchanged contracts on the Acquisition of the freehold on approximately 3.23 acres of land adjacent to its existing site in Castle Bromwich, Birmingham for cash consideration (before expenses) of £2.85m. Completion is expected to take place by April 2021.
The Consideration is to be satisfied by means of a new term loan of £1.43m provided by the Company’s bankers with the intention of repaying over 10 years and the balance from existing cash resources. Interest on the term loan will be charged at a rate of 1.99 percent above base rate.
Inland Homes 57p £131m (LON:INL)
AGM Statement from the brownfield developer and housebuilder focused on building residentially led developments for direct sale or on behalf of partner organisations. Since 1 October 2020, the Group’s asset management division has achieved a resolution to grant planning consent for 583 units on the former Homebase site in Walthamstow and has submitted a planning application for 1,629 homes on the 36.7-acre Cavalry Barracks site in Hounslow. The Group aims to finalise the Section 106 agreements for its schemes at Hillingdon and Walthamstow shortly, thus releasing both planning consents for the projects to be delivered.
As these asset management projects are funded by third-party investors, this area of the business offers particularly attractive returns with reduced capital and risk. The asset management division currently has six live projects underway acting on behalf of investors, which together have the potential for around 3,100 homes.
The Group continues to report sustained demand from the private buyer market, with the weekly net reservation rate steady at 0.69. In total, the Group has achieved 97 net reservations since 1 October 2020. The Government’s extension to the Stamp Duty Land Tax holiday and the 95% mortgage Government guarantee is welcome; however, the Group firmly believes that reform to planning is what is really required to properly address the ongoing shortage of new homes.
Gfinity 3.85p £30.7m (LON:GFIN)
The esports solutions provider, today announces a commercial agreement has been signed with IQONIQ, a new and unique fan engagement platform, to become its official esports and gaming partner for the next three years.
Gfinity will leverage its existing expertise, industry knowledge, relationships, tournament platform technology, and the Gfinity Media Group community to support the planning and building of a market leading content and online gaming hub that will be hosted on the IQONIQ fan engagement platform.
Gfinity will receive a monthly provision of service fee to provide a range of services, including online content production, influencer management services, marketing and promotion via Gfinity Digital Media, online gaming and tournament play and commercial and creative support.
Part of the initial focus will be to deliver an exciting new fan-focused tournament on the popular soccer simulation title, eFootball PES 2021 – following the announcement of IQONIQ’s new partnership with gaming publisher, Konami.
City Pub Group 127.5p £134.75m (LON:CPC)
The owner and operator of 48 premium pubs across Southern England and Wales and a further 4 development sites, today announces the appointment of Emma Fox as an Independent Non-Executive Director with immediate effect.
Emma is an exceptionally experienced director with over 30 years of experience in the retail, leisure, and drinks sectors. Emma is currently CEO of Berry Bros & Rudd, the oldest wine and spirit merchant in the UK. She was appointed as CEO in 2020, having served an Independent Non-Executive Director since 2017, to help guide the business through its next phase of growth. Emma joined Berry Bros & Rudd from The Original Factory Shop where she also held the role of CEO.
Previously, Emma held several senior management and divisional board roles at large retailers including Commercial Director at Halfords, Chief Marketing Officer at Walmart Canada and Commercial and Logistics Director roles at ASDA. Emma also has extensive hospitality and leisure experience having worked with Hollywood Bowl as Marketing Director, Bass Brewers and as a Non-Executive Director at Punch Taverns Plc.
Oriole Resources 0.875p £13.6m (LON:ORR)
Results of the recently-completed air core drilling programme at the northernmost Faré prospect. The holes were planned to test the geochemistry of the immediate sub-surface, below the influence of any lateritic and/or transported cover, with a single sample taken per hole. The programme has reported best values of 2.58 grammes per tonne gold, 0.64 g/t Au and 0.62 g/t Au, successfully supporting and enhancing the previous gold-in-soil anomalies defined by the Company. The results confirm that the majority of the anomalism is in situ, and IAMGOLD has indicated its intention to proceed with a follow-up exploration programme comprising 5,000 metres reverse circulation drilling and 1,000m diamond drilling, subject to a mutual agreement on addressing outstanding issues related to the option agreement.
Mediazest* 0.0725p £1.01m (LON:MDZ)
The creative audio-visual company announced that Geoff Robertson CEO will provide a live presentation relating to Final Results for the Period ended 30 September 2020 via the Investor Meet Company platform on 19 Mar 2021 at 10:00am GMT. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9:00am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet MediaZest plc via: https:// www.investormeetcompany.com/mediazest-plc/register-investor
Evgen Pharma 8.25p £22.7m (LON:EVG)
The clinical stage drug development company, announces that after a review of the first 60 patients enrolled, the Data Safety Monitoring Committee for the STAR COVID-19 (SFX-01 Treatment for Acute Respiratory infections) trial has concluded that there are no concerns regarding patient safety or data quality that would prevent continuation of the trial.
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