3d Diagnostic Imaging (LON:3DD) (LON: 3DD 0.6p/£1.45m)
3D Diagnostics, which owns the protected rights to a technology platform with a number of significant potential commercial products, announced interim results for the 6 months to 31 December 2011. Revenue suffered a significant drop to £67k (2010: £566k) whilst a slightly wider pretax loss of £987k (2010: £981k). Cash on the balance sheet has also fallen to £1.07m (2010: £2.02m). Whilst the results for the period were not positive, the Company stated that it now sees some early signs of an improvement in trading as a result of a number of initiatives it has put in place, such as the significant enhancement in product functionality, with all units in the field being successfully upgraded.
Angel Biotechnology (LON: ABH 0.21p/£6.96m)*
Angel announced that commissioning of the Cramlington facility is now complete as anticipated and that the plant is now available for development, technical transfer and other non-GMP (Good Manufacturing Practice) activities. Completion of recommissioning reflects a period of concerted effort by all staff from across the
business and their contractor WHP. Angel intends to utilise this facility to provide additional GMP manufacturing capabilities for the production of cell therapies, antibody purification and production of recombinant proteins. Central to this progress has been the on-going recruitment of local staff into positions in Quality, Validation and Operations functions. Work is underway to transfer pilot processes from the Pentlands facility as a necessary first step in securing their MHRA (Medicines and Healthcare products Regulatory Agency) licences. In addition to Cramlington activity the senior management team is evaluating commercial opportunities currently available to Angel.
Angle (LON:AGL) (LON: AGL 50.25p/£19.01m)
ANGLE, the technology commercialisation company, has reported further progress at its 33 per cent owned Geomerics, which specialises in computer games middleware. At the recent Game Developers Conference (GDC 2012) in San Francisco, Geomerics announced the development of new products for mobile devices and for Nintendo’s new WiiTM U console. These new products are expected to significantly expand the addressable market for Geomerics products. In partnership with ARM, Geomerics also showcased Enlighten running smoothly on a Samsung Galaxy Tab 7.7 tablet on the expo floor. This is an expansion of Geomerics’ product capability and Enlighten, via ARM CPU, now supports a wide range of mobile devices including the iOS-based iPad and iPhone, Android devices and PlayStation® Vita, thus, offering new sales opportunities. Since GDC 2012 finished on 9th March, Geomerics has already been notified of four new sales for major new games, three of which are to entirely new customers, and its pipeline of prospective customers is steadily increasing. Finally, there has been further market recognition for Enlighten with a BAFTA award being won by a computer game incorporating the Enlighten lighting solution. The British Academy of Film and Television Arts (BAFTA) 2011 GAME Award was awarded to Battlefield 3, an Electronic Arts game incorporating Enlighten. Battlefield 3 is reportedly the fastest selling Electronic Arts game ever, selling more than 5m units in its first week.
Animalcare (LON:ANCR) Group (LON: ANCR 173.5p/£35.94m)
A leading supplier of veterinary medicines announces that Project Quattro, a product from Animalcare’s development pipeline, has received Marketing Authorisation from the Veterinary Medicines Directorate. Receipt of Marketing Authorisation is a prerequisite for placing a new veterinary medicinal product on the market, after routine approvals for product packaging, allowing Animalcare to make final preparations for a full commercial launch. First sales are expected to take place by the end of the current financial year (30 June 2012).
Avanti Communications (LON:AVN) (LON: AVN 274.5p/£306.72m)
The broadband satellite provider announced a new contract win with Ethnet Limited for the sale of capacity on its HYLAS1 satellite. The deal, said to be worth £660k at a minimum, will see a variety of applications being provided via the capacity by Ethnet which supplies communications services and equipment to remote locations as well as short-term hire for events, exhibitions, road shows and film production companies. Earlier in the month, the Company announced a 5 year contract with CommCarrier Satellite Services Ltd. for the supply of satellite bandwidth over East Africa on its HYLAS 2 satellite worth $23.9m and in February a contract with global satellite network operator STM to buy capacity on HYLAS 1 to enable them to launch Enterprise services in Spain. Avanti’s share price was up 8.5 per cent on the day of this latest contract win.
Baobab Resources (LON:BAO) (LON: BAO 11.88p/£22.58m)
Baobab Resources, the iron ore, base and precious metals explorer with a portfolio of mineral projects in Mozambique announced that it has raised £2.76m at a price of 12p per Placing Share. The Placing utilises the full extent of Baobab's existing authority to issue shares for cash. The proceeds of the Placing will, primarily, assist the Company to fund work on the Tete Pre-Feasibility Study on its core iron ore assets in Mozambique.
Brainjuicer (LON:BJU) (LON: BJU 303.5p/£37.96m)
Innovative, online market researcher, BrainJuicer announced its Final Results for the 12 months ended 31 December 2011. The Company saw a 27 per cent revenue growth to £20,713,000 (2010: £16,360,000) and a 24 per cent increase in profit before tax to £2,760,000 (2010: £2,217,000) and a 25 per cent growth in fully diluted earnings per share to 14.1p (2010: 11.3p), along with a 25 per cent growth in interim and proposed final dividend to 3.0p (2010: 2.4p). In the period, the Company saw strong growth in the United States, Germany and Switzerland and a fourth US office was opened in Atlanta, Georgia. Commenting on the Company's results, John Kearon, Founder and CEO, said: "We are pleased to report another period of strong organic growth. Our innovative new products continue to be well received by our blue chip client base and for the second year running, BrainJuicer was voted Most Innovative Agency in the respected GreenBook Research Industry Trends report, by over a thousand of our peers. We're on a long-term and exciting mission to improve the understanding and prediction of consumer behaviour. This takes innovation, dedication and determination and the degree to which we succeed will be directly reflected in our profitability and continued growth. We have grown consistently every year since floating in 2006, our financial position is strong and the potential for future growth remains significant. Our revenue visibility is, as ever, limited but we are confident that the Company will make further progress in 2012."
China New Energy (LON:CNEL) (LON: CNEL 5p/£14.83m)
China New Energy, the engineering and technology solutions provider to the bioenergy sector, has provided a trading update for the year ending December 2011. Revenues are expected to rise by 29.4 per cent to RMB 179m, with gross profits only marginally higher at RMB 40.9m. Contracts won in 2011 more than doubled to RMB 171m. The lower gross margin in 2011 largely reflects the unusually high margin contracts delivered during 2010 and cost overruns on certain Thai projects, particularly the Ubon Ratchathani Project, due in part to the severe flooding in the country. However, the company estimates that profit before tax for 2011 was around RMB 26m, an increase of over 9 per cent. The management expects the market for ethanol and butanol, as a replacement for fossil fuels, to continue to grow and is
confident that it can continue to deliver and achieve profitable growth in 2012, despite the softening economy and tight monetary conditions in China.
Cyan Holdings (LON:CYAN) (LON: CYAN 0.38p/£6.24m)
The integrated system and software design company delivering mesh based flexible wireless solutions for utility metering and lighting control announced that the internationally recognised telecoms and smart metering industry business leader John Cronin has been appointed as the Company's new Executive Chairman of the Board. Mr. Cronin, who brings a wealth of experience working with global telecoms and software companies, joins the Cyan team at a time when the Company is set for a period of significant growth. Mr. Cronin has been instrumental in several key sector mergers and acquisition worldwide, raising equity, debt facility and vendor financing funds. He has a track record of creating significant value for shareholders with four significant company exits at Azure Solutions, i2, Netsource Europe and Picochip (a FemtoCell company) totalling over US$600m.
EKF Diagnostics (LON: EKF 26.12p/£65.63m)
EKF Diagnostics Holdings (LON:EKF) the in-vitro diagnostic devices company, announced results for the year to 31 December 2011. Revenues for the Company more than tripled to £21.7m from £6.5m in 2010, though this partly includes the results for Stanbio, which was acquired during the period for a consideration of US$25.9m. Losses before tax of £2.4m were recorded (2010: loss of £2.1m), also reflecting acquisition costs of Stanbio and also investment in key people and infrastructure (including £0.6m in a manufacturing facility for Quo-Test and Quo-Lab and a move to a bigger manufacturing plant in Poland). With a strong portfolio of products in the in-vitro diagnostics space, and key distribution agreements in place including one signed with Alere Inc to distribute HemoPoint H2 analysers and cuvettes in the USA, the Company continues to expect solid growth going forwards. The Company also announced this week the sale of Swiss subsidiary, International Brand Licensing AG for a cash consideration of £50,000, payable over a 2 year period, which represents a
divestment from the sports licensing sector, further enabling the Company to focus on its core diagnostics business.
Enegi Oil (LON:ENEG) (LON: ENEG 15.75p/£16.72m)
Further to the release dated 1 March 2012, Enegi provided an update on its operations at Garden Hill South. The Company is pleased with initial results from the work over, the program is continuing as planned and the PaP#1-ST#3 well has been flowed using various choke sizes and the associated pressure response from the wellbore is being continually monitored. The majority of the injected chemicals and spent acid have been removed with the lower water content seen recently indicating that this phase of the work over is nearing completion. Once all the injected chemicals and spent acid have been removed, the Well will be shut-in to allow the bottom hole pressure to recover prior to embarking on a long term flow test to determine the long term sustainable production rate.
Forbidden Technologies (LON:FBT) (LON: FBT 32p/£27.71m)
The owner and developer of the FORscene Cloud video platform announced its final results for the twelve months to 31 December 2011. Sales increased 25 per cent to £466,674 (2010: £372,139) and gross profit increased 29.5 per cent to £417,769 (2010: £322,512), whilst the Company turned a net loss of £186,218 (2010: loss of £129,749) as a result of the Company's policy of increasing investment in R&D, marketing and sales resources. Forbidden had some major contract wins during the year, including licensing FORscene, its Cloud-based video editing platform, to YouTube and Ericsson; and partnerships with AP ENPS in News and EVS in sport. These reflect Forbidden's increasing credibility in broadcast post-production and progress in more innovative areas including News and Sport, and the Web. The launch of Clesh, the consumer version of FORscene, as an Android app has increased awareness of Forbidden's video platform outside its traditional broadcast market and has kick-started a revenue stream with significant potential. FORscene design improvements and economies of scale mean the double-digit percentage increase in sales over 2011 actually cost less to serve. The Company strategy continues to focus
on the four primary sectors where its technology has the opportunity to play a major role in shaping new work flows and to be a significant force: Broadcast Post Production; News and Sports Innovation; The Social Media Consumer; and Education. In 2012 Forbidden is continuing to focus on the growth sector opportunities in its four sectors and increasing its investment in relevant resources to support and enhance that growth.
Frontier Mining (LON:FML) (LON: FML 6.32p/£117.70m)
Frontier Mining, the copper exploration and development Company focused on Kazakhstan, has reported its first assay results from its drill programme at its Baitemir Copper project in north-eastern Kazakhstan. Drill results will continue to be reported and data accumulated ahead of the preparation of a preliminary resource estimate, provisionally scheduled for the fourth quarter of 2012. The exploration programme was accelerated from 2010 and through 2011. During 2010 and 2011, the Company completed 6,032 metres and 7,557 metres of trenching respectively, bringing the total at Baitemir to over 14,500 metres. This exploration programme has resulted in the discovery of a significant new copper footprint (with associated gold, silver and molybdenum) of a total length of 2,000m and a width of 400m. There are 1,000m of drilling remaining under the project to complete the first stage of exploration drilling, which will then allow the commencement of a resource definition to the Kazakhstan GKZ standard to be undertaken and submitted to governmental agencies.
Galantas Gold (LON:GAL) Corporation (LON: GAL 4.88p/£11.49m)
The Directors of Galantas Gold, the producer, developer and explorer with a 100 per cent interest in Ireland's only operating gold mine, announced that the Company has awarded the estimation and reporting of an Interim Resource for the Omagh Gold Project to ACA Howe International Ltd. This independent report is to be prepared to Canadian National Instrument (NI) 43-101 standard. It will include drilling results and analyses received to 2 April 2012 and will identify all resources discovered at that date. Expected to be published by the end of May 2012, it will also comment
upon the Company's Underground Mining Scoping Study. The Mining Scoping Study contains likely cost estimates for the establishment and operation of an underground mine, the mining method, support, backfilling detail, tailings storage and an expanded processing plant of the same type as the existing operating plant.
Idox (LON:IDOX) (LON: IDOX 29.75p/£102.85m)
IDOX, the supplier of software and services, has acquired Opt2Vote Ltd, one of the major providers of electoral managed services and innovative democracy solutions in the UK, for a maximum cash consideration of £3.5m. Based in Londonderry, Northern Ireland, Opt2Vote provides expertise and knowledge in all areas of election management and specialises in the provision of managed services solutions and innovation in areas such as e-Counting and Early Voting. Opt2Vote supplies electronic vote counting solutions to the 32 Scottish local authorities as well as managed print services to UK councils. IDOX will pay an initial consideration of £2.7m, with a further payment of £0.8m in 2013 dependent on the achievement of certain financial performance conditions. Opt2Vote reported revenue of £3.6m and operating profit of £0.5m in the financial year ending June 2011 and on completion will have £0.6m of cash. The acquisition will be funded from IDOX’s cash and debt facilities. This acquisition complements IDOX’s strategy to deliver a broad range of electoral software solutions and managed services to local authorities.
ImmuPharma (LON:IMM) (LON: IMM 71.5p/£58.3m)
The specialist drug discovery and development company announced its preliminary audited results for the year ended 31 December 2011. In the period, all rights have been regained to the lead compound, LupuzorTM, from Cephalon, Inc following its acquisition by Teva Pharmaceuticals. LupuzorTM received approval from the US FDA to start a Phase III trial with a Special Protocol Assessment as well as obtaining Fast Track designation. ImmuPharma is now in discussions with a number of companies to agree a new licensing deal for this Phase III asset. ImmuPharma’s anti- cancer compound IPP-204106, with a novel and promising mechanism of action has made encouraging progress with promising early results in its Phase I/IIa trial where
21 per cent of patients demonstrated disease stabilisation for more than six months. ImmuPharma has a strong cash position of £12.2m as at 31 December 2011 (2010: £15.6m) and the loss for the year was £3.35m (2010 : £1.98m).
Imperial Innovations (LON:IVO) Group (LON: IVO 350p/£348.78m)
Imperial Innovations, the technology commercialisation and investment group, has invested £2m out of a £3m funding round in Abingdon Health, which specialises in commercialising novel clinical diagnostics technologies. Founded and led by Dr Chris Hand, Abingdon Health will use the funds to take a 50.1 per cent interest in Molecular Vision as well as other projects. Molecular Vision is developing a low-cost lab-quality, point of care disposable diagnostic devices for medical testing. Following the investment, Imperial will own a 28.6 percent and a 36.4 per cent stake in Abingdon Health and Molecular Vision, respectively.
Instem (LON:INS) (LON: INS 162.5p/£19.12m)
A leading provider of IT applications to the global early development healthcare market announced the establishment of Instem India Private Limited, a wholly owned subsidiary of the Company. Instem India will be based in Pune, approximately 80 miles east of Mumbai, close to a large concentration of IT and life sciences companies. Instem's existing customers in the region include Advinus Therapeutics, based in Bangalore, which in January increased its user licences for Instem software by 40 per cent. The local operation will improve Instem's ability to rapidly and cost-effectively respond to new opportunities requiring additional software resources in India. The team will extend Instem's ability to comprehensively support its growing client portfolio in the Asia Pacific region, which accounted for over 40 per cent of the new Provantis client sites over the last three years. In the longer term, it anticipates that Instem India will provide a focal point for sales support and service delivery as the Southern Asian market develops.
Mdm Engineering (LON:MDM) Group (LON: MDM 114.5p/£42.66m)
The minerals process and project management company focused on the mining industry announced that it has been awarded the scoping study for the Gold One International Limited and Gold Fields Limited joint venture project. Gold One and Gold Fields intend to investigate the economic viability of jointly reclaiming historical tailings deposits and concurrently reprocessing current arisings at a number of sites within the Carletonville, Westonaria and Randfontein areas of the Witwatersrand, west of Johannesburg. MDM has also recently been appointed by Gold One to undertake the definitive feasibility study review, value engineering and re-estimation of the capital cost for the Cooke Uranium Project. It has also been appointed to review and update the previous prefeasibility study for the reclamation and reprocessing of the Randfontein tailings deposits and to upgrade the study to a definitive feasibility study.
Mediazest (LON:MDZ) (LON: MDZ 0.22p/£0.74m)*
MediaZest announced new working relationships with key clients for the provision of its Virtual Mannequin products. MediaZest has been working directly with major brands and end users to build a strong pipeline of opportunities as well as delivering a number of Virtual Mannequin projects for new clients. The Group has completed Virtual Mannequin projects for a major supermarket and a bank, as well as for NHS pilot schemes, several airports and as part of a number of exhibition stands for key brands. Whilst the Group has worked hard to directly target major brands, it has also been working with key partners to strengthen their offerings to their own customers, including BT.
Monitise (LON:MONI) (LON: MONI 34.25p/£276.80m)
Monitise, which provides end-to-end solutions that enable banks and their customers to undertake banking transactions via mobile phones, announced this week that it has entered into an agreement to acquire Clairmail Inc., a leading US provider of mobile banking and payments solutions for a consideration of 26.5 per cent of the enlarged Company, valuing Clairmail at US$173m, with the deal
conditional upon US regulatory and shareholder approvals. Clairmail has seen significant performance gains during calendar year 2011 with revenue up 90 per cent to $18m, a minimum contracted order book at year-end of $47m and an additional $36m of expected user generated revenue from existing contracts. This is a significant acquisition for the Company, which is expected to bring combined revenues of close to $100m for 2012.
Nostra Terra Oil & Gas (LON: NTOG 0.47p/£9.17m)
Nostra Terra, the oil and gas producer with projects in the USA, announced drilling has begun on the first horizontal well in the Warrior prospect, located in Oklahoma. The Company has a 10 per cent working interest in the Warrior prospect, which is operated by Crown Energy Company Inc. Crown Energy and its subsidiary, Basin Engineering, LLC, have a long and successful track record in acquisition, drilling, exploration and production, both for their own accounts and for their many clients. They are concentrated largely in the Mid-Continental United States but provide services and operations throughout the United States, Gulf of Mexico and several international locations. The well is the first of six potential horizontal well locations on the prospect. Drilling of the well is expected to be completed in approximately 30- days, followed by completion and initial production testing.
Oxford Pharmascience Group (LON:OXP) (LON: OXP 1.38p/£7.93m)*
The specialty pharmaceutical company that uses advanced pharmaceutic technologies to reposition medicines today announced its results for the year ended 31 December 2011. In the period, it started shipments of its OXP chew(TM) technology to Ache Pharmaceuticals in Brazil, extended the OXP chew(TM) licensing to the Far East via Mega Lifesciences, licensed technology from the University of Queensland for the production of material for its taste masking technology and launched OXP zero(TM) taste masking technology. Post period OXP announced that it had signed Heads of Terms with Hermes Pharma. Over the past year, OXP has started a research program for safer statins. Revenue for the year ended 31 December 2011 was £292,000, which represents an increase of 237 per cent on 2010. The loss for the
year was £926,000, 14 per cent higher than 2010. These results include the benefit of two of the first four orders from Ache Laboratorios, the Brazilian pharmaceutical company with which the Company entered into an exclusive licensing and distribution agreement earlier in the year for its OXP chew(TM) technology. Second half revenues showed a significant improvement on the first half reflecting the Company's focus on working with major pharmaceutical partners to commercialise its range of technologies. The loss on operations reflects the Company's investment during 2011 in advancing its technology to a state ready to commercialise, the rewards of which are expected to be seen in 2012. OXP is now looking for further commercial licensing deals with major pharmaceutical partners. After a successful fund raising in November the Company had cash resources available amounting to £1.1m as at 31 December 2011. Oxford Pharmascience also announced last week that it has signed a Heads of Terms agreement with Hermes Pharma to license and develop a range of products using the Company's OXP zero ibuprofen technology. Hermes Pharma is being granted an exclusive option to develop a range of orally disintegrating granules using the technology. Once successfully developed, Hermes Pharma will be granted a ten year license to sell these products to its existing and new healthcare customers. Additionally, Hermes Pharma has been granted an option to explore the development of a range of ibuprofen suspension products in sachets based on the OXP zero technology, which would fall under the same terms as the granules license.
Service Power Technologies (LON: SVR 8.75p/£16.58m)
A market leader for outsourced service and field management announced its audited results for the year ended 31 December 2011. Both revenues and profits were significantly ahead of initial expectations issued in March 2011. Profit before tax increased by 83 per cent to £1.1m (2010: £0.6m) on revenues which in fact decreased to £13.3m (2010: £18.3m) reflecting the strategic change in product mix toward higher margin business. The gross profit margin significantly increased to 51 per cent (2010: 28 per cent). ServicePower saw an encouraging level of incremental contract wins in the year, including the RSPCA, Homeserve, Steritech and Richer Sounds, providing a foundation for future growth. The Company in the period announced a
first revenue share agreement with Assurant Solutions and a strong platform of recurring revenue.
Silence Therapeutics (LON:SLN) (LON: SLN 2.2p/£12.70m)*
Silence announced its unaudited preliminary results for the year ended 31 December 2011. 2011 saw impressive interim data from Phase I trials of Atu027 presented at the American Society of Clinical Oncology conference in June 2011. Atu027 remains one of the most advanced RNAi therapeutic candidates in cancer. The Company's leadership position in RNAi delivery was validated by three new partnerships including deals with a top ten Pharma company, InteRNA Technologies and miRNA Therapeutics. These agreements covered all three of Silence's proprietary delivery technologies and two were for the delivery of a new form of a RNA therapeutic, showing the versatility of the portfolio. Also, there were positive clinical data from Silence's partners Quark Pharmaceuticals and Pfizer - the Phase II trial of PF- 04523655 in diabetic macular oedema showed it to be more effective than laser therapy. Quark has now initiated a phase IIb trial. This compound is based on Silence's AtuRNAi technology. The Company streamlined and reorganised its operations to increase efficiency and reduce cash spend. The Company possesses one of the world's most comprehensive RNAi technology intellectual property portfolios which was further strengthened in 2011 with the issuance of patents in Japan and the US. In May 2011, Silence raised £5.51m; combined with the impact of the restructuring, the cash runway extends to the end of Q3 2012. Silence also announced the creation of a Scientific Advisory Board (SAB) with the appointment of two Key Opinion Leaders (KOLs) in the area of liver disease, Professor Dr. Dr. Detlef Schuppan, M.D., PhD., and Professor Dr. Massimo Pinzani, M.D., PhD., F.R.C.P. The SAB will provide scientific perspectives and strategic insight to enable Silence to leverage its world-leading gene silencing technologies AtuRNAi and its liver specific liposome delivery technology DBTC, in the liver disease arena.
Software Radio Technology (LON:SRT) (LON: SRT 29.25p/£31.06m)
Software Radio Technology announced that it has signed an AIS supply agreement with Transas Navigator of Russia with an initial frame order for Class A products worth $1.25m which is expected to be delivered over the next twelve months in minimum call-offs of $250,000. The Russian maritime authorities have recently announced a national mandate which is expected to require most commercial vessels to fit a Class A or Class B AIS device over the next five years. SRT understands that the initial requirement under the mandate is for Class A devices and that it will affect an estimated 4,000 vessels over the next one to two years with a further 25,000 vessels expected to require a mixture of Class A and B devices within the five year timeframe. SRT's standard GPS based AIS Class A and Class B units have been customised for Transas to include the Russian operated positioning system, GLONAS, and other features and functions required by local regulations. This work was completed between November 2011 and March 2012 and the first units delivered to Transas earlier this month for in-house functional testing and formal testing and approval by relevant Russian marine and radio authorities. The approval process is ongoing and is expected to take up to five months. During this period SRT will commence the production planning and manufacture of the first GLONAS Class A units ready for delivery towards the end of Q2 in financial year 2012/13.
Sorbic International (LON:SORB) (LON: SORB 11p/£4.85m)
Sorbic International received official notification from the Ulanqab, Inner Mongolia local authority that the industrial zone, in which Sorbic's manufacturing facility is situated, has been identified as an area that may be rezoned as a city zone for urban planning. The Board believes that any zone reclassification in Ulanqab City will require the full approval of the Inner Mongolian government as it would effect a number of businesses operating in the industrial zone. Sorbic management will start looking into this further, but what is apparent is that nothing is going to change overnight.
Stellar Diamonds (LON:STEL) (LON: STEL 7.38p/£15.99m)
Stellar Diamonds, the diamond mining company focused on West Africa, has announced a maiden resource for the Tongo kimberlite dyke project in eastern Sierra Leone. The JORC compliant report, prepared by CAE Mining, has highlighted an inferred resource of 660,000 carats for Dyke-1 and a resource grade of 120 carats per hundred tonnes (cpht, 1.0mm cut-off.) The management believes this confirms the Tongo project’s potential as a high value, high quality growth asset for the Company and it can move forward with its strategy of accelerating the kimberlite projects through to production. There is a considerable potential to expand the resource with depth and in addition there is 25 per cent of the mapped strike of Dyke-1 yet to be drilled into the resource category. Furthermore, additional resource potential exists from other nearby kimberlite dykes, including the 1km long Dyke-4 which has recently been bulk sampled and returned a diamond grade of 109 carats per hundred tonnes and an average diamond value of $100 per carat.
Symphony Environment (LON: SYM 8.38p/£10.71m)
Symphony Environmental Technologies (LON:SYM) the specialist in advanced plastics technologies including controlled life and anti-microbial products, announced a 20 year distribution agreement for the People’s Republic of China (excluding Hong Kong and Macau) with Super Success International Limited (SSI) for the d2w and d2detector technologies. d2w is a technology designed to control and shorten the life of normal plastic products and packaging, whilst d2detector is a hand held device for checking the d2w and d2p additives which can be used for verifying that products and packaging are authentic and not copies. SSI has secured a firm and material order for d2w for delivery within ninety days of the agreement signature date and will additionally purchase one d2detector unit within ninety days of the agreement. The agreement stipulates a minimum purchase order for each twelve month period to maintain exclusivity, which if reached would apparently make a material contribution to the Group.
Transense Technologies (LON:TRT) (LON: TRT 8.5p/£15.02m)*
Transense Technologies announced that its trading division, IntelliSAW, a leading provider of next generation wireless sensor systems for smart grid applications, has entered into an exclusive distribution agreement with EL PE Engineers, headquartered in Vadodara, India. EL PE currently provides advanced systems technology and engineering support for the electric power industry. As part of this agreement EL PE will provide exclusive distribution for IntelliSAW’s innovative wireless/passive temperature monitoring system in the Indian market. In return for exclusive terms EL PE has agreed to a minimum revenue target over the next two years of USD $375K.
Vindon Healthcare (LON:VDN) (LON: VDN 11.5p/£10.22m)
Vindon provides controlled environment services and products to the pharmaceutical, life sciences and heritage sectors in the UK, Ireland, Europe and North America. In its full year results, both revenue and profit growth were achieved despite adverse market conditions. There was a strong rise in revenues from equipment sales and revenues from North American operations more than doubled to £781,000. Net debt was reduced by £375,000 to £1.58m driven by strong cash generation and contracted future income of £4.5m is at record levels (2010: £3.9m). The dividend was raised by 10 per cent reflecting the improving performance of the business. Liam Ferguson, Chairman, commented: "The benefits are starting to flow from actions taken in the last two years to invest in our facilities and strengthen our team. The successful completion of the largest equipment order in our history, a continuing strong performance in Ireland and improving results in the USA demonstrate that we are moving in the right direction. We plan to add new revenue streams and capitalise on our strengths to drive continued profit growth."
*A corporate client of Hybridan LLP
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