Author: Arvin Arvin

finnCap Research Company Notes – 18 June 2019 Castleton Technology (CTP) : Corp Prelims Key data Castleton’s prelims report performance in line with the trading update: EBITDA of £6.3m (vs £6.3mE) from revenue of £26.4m (vs £26.5mE), with operating cash conversion of 97%, and free cash flow of £4.8m. With the maiden dividend reaffirming the

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finnCap Research Company Notes – 14 June 2019 M.P. Evans (MPE) : Corp AGM update: good start to the year Key data MPE has released an AGM trading statement covering the first five months of the financial year (to end May 2019). The statement highlights a solid start to the year with 5% y-o-y growth

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finnCap Research Company Notes – 13 June 2019 Iofina (IOF) : Corp CBD oil licence approved Key data Iofina has taken its first step towards developing its new CBD business, IofinaEX, receiving conditional approval for its Hemp Processor/Handler Licence Application. This business is seen as a natural fit for Iofina, both operationally and geographically, with

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finnCap Research Company Notes – 12 June 2019 Avesoro Resources (ASO) : Corp Youga operations update Key data Avesoro Resources has reported an update from its Youga gold mine in Burkina Faso. Further to Monday’s announcement about various operating problems, it has now reported that negotiations continue between its former mining workforce and the new

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finnCap Research Company Notes – 11 June 2019 iomart (IOM) : Corp Prelims – as steady as ever Key data Prelims show FY19 to be in line with the April trading update, generating free cash flow (before a freehold acquisition) of £17.5m from adjusted PBT of £25.5m and revenue of £103.7m. Having cleared £100m revenue,

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finnCap Research Company Notes – 10 June 2019 Avacta (AVCT) : Corp PD-L1 candidate selected Key data Avacta announced that it has selected its first clinical candidate Affimer against the cancer immunotherapy target PD-L1, to take into Phase I clinical trials, thereby remaining on track to submit an IND/CTA application by the end of 2020

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finnCap Research Company Notes – 5 June 2019 ANGLE (AGL) : Corp Ovarian cancer study update – positive first step Key data ANGLE announced positive results from the first phase (pre-study) of its ovarian cancer clinical verification study. Using an optimised Parsortix HyCEAD Ziplex sample-to-answer process (developed during 2018), blood samples from 26 Stage III/IV

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finnCap Research Company Notes – 3 June 2019 Frenkel Topping (FEN) : Corp A smart move helping the company to achieve scale Key data Outsourcing elements of the DFM allows Ascencia to scale, while simultaneously retaining investment management fees for AUM managed in-house. Nik Lysiuk nlysiuk@finncap.com KRM22 (KRM) : Corp Managing financial risk Key data

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Shopping Trolley | finnCap Consumer quarterly sector note Shopping Trolley | finnCap Consumer quarterly sector note Multiple unexpected surprises across the Consumer Sector. We retain our unchanged overall view that “a highly challenging and uncomfortable period lies ahead for most of the consumer sub-sectors”, with uncertainty weighing heavily. What confounds us, however, is the nature

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