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AIM Journal Nomad Service to AIM-Quoted for Growth Companies www.northlandcp.co.uk Northland www.northlandcp.co.uk JUNE 2018 THE ONLINE MONTHLY FOR THE ALTERNATIVE INVESTMENT MARKET JOURNAL In this issue Betting on US opportunity GENERAL NEWS Legalisation of online sports betting in the season. It also has a deal with Betfair and Tekmar subsea float US will provide opportunities for AIM online relationships with casino operators. GAN 02 gaming companies. The Supreme Court of generates income from a revenue share with the United States has decided to overturn its customers. the Federal prohibition of sports betting. The Nektan has secured a partnership with ADVISERS state of New Jersey argued that congress Metric Gaming to provide Metric’s betting Mixed broker had exceeded its authority and the judges content in the US market. Nektan’s online 03 fortunes agreed. The US sports betting market, both gaming business in the US, Respin, will be onsite and online, could be worth $6bn by offering horse racing and sports betting via 2023, but individual states will have to enact its mobile platform. NEWS legislation to enable online sports betting to Licensed pari-mutuel pool wagering AorTech exploits IP commence in their territory. business Webis has a US subsidiary 04 GAN has been preparing for this called WatchandWager, which is based in eventuality and is already in a position California, a strong potential market for to launch a sports betting service in New sports betting, and has licences in other DIVIDENDS Jersey and Pennsylvania in the second half states. Webis is seeking partnerships with of this year prior to the start of the NFL gaming software companies. Xpediator 07 consolidates EXPERT VIEWS AIM 100 index changes 08 N4 reformulates Savannah Petroleum, cleantech-focused developer Xeros Technology, footwear investment manager Impax Asset retailer Footasylum and oil and gas Management, Eland Oil & Gas and Somero company San Leon Energy are the others. FEATURE Enterprise will join the FTSE AIM 100 index Footasylum, which joined the AIM 100 in Teenage AIM 50 when the quarterly changes take place on March, has fallen back over the past few 09 18 June. There are no changes to the FTSE months but it is still above the 164p a AIM 50 index. share flotation price seven months ago. FEATURE Of the companies dropping out of In the latest changes to the FTSE 100 the index, biopharmaceutical company index constituents, online gaming firm AIM evolves Faron Pharma OY was the least surprising GVC is set to join fellow former AIM 10 following a sharp fall in the share price company Melrose Industries in the UK after disappointing phase III trial results for stockmarket’s major index. That makes the use of Traumakine in the treatment of it the third former AIM company to join STATISTICS ARDS (acute respiratory distress syndrome). the FTSE 100. The first was Baltimore Market indices and Polymer-based cleaning technology Technologies, nearly two decades ago. 11 statistics www.marriottharrison.co.uk Marriott Harrison www.marriottharrison.co.uk Northland www.northlandcp.co.uk general news Tekmar subsea flotation Audioboom deal off Subsea cables protection technology coatings for pipes to the oil and supplier Tekmar plans to join AIM in gas sector. AgileTek provides June via a flotation that could value analysis and simulation services to Audioboom is not going ahead the company at between £70m and both divisions. with the acquisition of Triton Digital £80m. Tekmar moved into the offshore Canada after failing to raise the Durham-based Tekmar is a cash wind turbines market in 2009 and cash it needed to complete the generative business that has its TekLink CPS product has a 74% deal. That still leaves the podcast been trading for more than three market share in the offshore wind company short of cash for its existing decades, although it was originally farm market in Europe. This is a operations. A £700,000 break fee – based in Norway. In September fast-growing market and there £90,000 in cash and the rest in 16.6 2011, Elysian Capital financed a will be even more opportunities million shares is payable on 13 June. management buyout of the group in North America, the Middle East Candy Ventures has subscribed for a and brought expertise in the wind and Asia Pacific. further £500,000 of convertible loan power sector to help the business In the year to March 2018, note, taking the total issued to £1.5m. to grow. Since then, manufacturing group revenues were £21.9m and Candy already owns a 13% stake in capacity has been trebled. underlying EBITDA was £4.9m. Audioboom, which is raising £4.5m There are two main divisions. Tekmar has been loss-making at 3p a share while shareholder The first supplies subsea because of the interest charges approval is being sought to convert protective coatings for power on borrowings due to the debt the convertibles into shares. Rob transmission cables from offshore financing of the business. The Proctor remains as chief executive wind turbines. The other division flotation will enable the balance and Brad Clarke has become finance provides subsea protective sheet to be restructured. director. AIM continues to attract legal consolidators Commercial law firm Gateley a surveyor. The Gateley share corporate and commercial law has acquired GCL Solicitors, price has almost doubled since it plans to float by the end of June, which specialises in land and raised £30m at 95p a share three at a valuation in excess of £100m, property business, for £4.15m years ago. and this will be combined with in cash and shares. Gateley was Rosenblatt was valued at the acquisition of Manchester- one of the trailblazers when it £76.1m when it joined AIM at 95p based Turner Parkinson. Knights is comes to lawyers coming to the a share. Rosenblatt is focused on a consolidator in the legal sector stockmarket and there have been dispute regulation and corporate and this will take the number of a stream of rival firms floating law, with around one-third of its offices in England to seven. The in the past year. The latest legal billings generated by the financial strategy is to have more than nine firm to float on AIM is Rosenblatt. services sector. The firm will offices by 2020, helped by further It will soon be joined by Knights grow by acquisitions or taking on acquisitions. Professional Services. specialist litigation teams. In the year to April 2018, GCL is the third acquisition Knights is the next legal revenues were £34.9m and by Gateley since it joined AIM services firm set to join AIM and operating profit was £6.8m, while in June 2015, but it is the first it intends to use the quotation Turner Parkinson will add £8.5m lawyer. The other two acquisitions to continue to expand via in revenues and operating profit were a tax incentives adviser and acquisition. The specialist in of £1.8m. 2 June 2018 Marriott Harrison www.marriottharrison.co.uk www.northlandcp.co.uk Northland www.northlandcp.co.uk advisers Mixed fortunes for brokers Trading was tough for some smaller disappointing first quarter. Asset sales are utility and building maintenance company brokers earlier this year but have improved the cash position. services provider Bilby, monoclonal there are signs of improvement if Numis appears to have fared better antibodies developer and supplier prospective transactions happen. than its rivals. It increased its revenues Bioventix, Faron Pharmaceuticals, WH Ireland says that deferred by 42% in the first half and they were video games developer Frontier transactions by clients have hit its also higher than the strong second Developments, remote meetings corporate and institutional broking half of last year. The growth came technology provider LoopUp, oil and division revenues. There is potential from the capital markets operations. gas producer Nostra Terra Oil and new business but, whether or not it Investment in additional staff and Gas, technology company investor materialises, will depend on market operations means that profit will TMT Investments, leak detection conditions. Higher costs in the private be held back. Edison Investment services provider Water Intelligence, wealth management division mean Research forecasts flat pre-tax profit of Wey Education, and film and TV that there will be a further loss in the £37.8m, on revenues up from £130m translation services provider Zoo final four months of the 16-month to £144.5m, for the year to September Digital. Last year’s company of the trading period to March. In the 12 2018. year was musical instruments retailer months to November 2017, WH Gear4Music. Ireland reported a loss of £1.14m. Ten AIM-quoted companies are in The awards will be held at The At the AGM, Cenkos Securities said the running for company of the year Montcalm Hotel, Marble Arch, on that fee income had improved after a at the 2018 Small Cap Awards. They Thursday 14 June. ADVISER CHANGES - MAY 2018 COMPANY NEW BROKER OLD BROKER NEW NOMAD OLD NOMAD DATE Gear4Music Peel Hunt/Panmure Gordon Panmure Gordon Panmure Gordon Panmure Gordon 01/05/18 Escape Hunt Stockdale/Peel Hunt Stockdale/Peel Hunt Stockdale Peel Hunt 02/05/18 TyraTech WH Ireland Allenby Spark Spark 03/05/18 African Battery Metals SP Angel SP Angel/WH Ireland SP Angel WH Ireland 04/05/18 Versarien Arden WH Ireland Arden WH Ireland 04/05/18 SEC EnVent/WH Ireland WH Ireland WH Ireland WH Ireland 08/05/18 Eurasia Mining First Equity/WH Ireland WH Ireland/Beaufort WH Ireland WH Ireland 10/05/18 Reach4Entertainment Dowgate/Allenby Allenby Allenby Allenby 10/05/18 Myanmar Investments Investec finnCap Grant Thornton Grant Thornton
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