Initiation Report archive

Plastics Capital - Capital Network: Trading Update – Some Encouraging Signs


Plastics Capital (PLA.LON) has published a trading update for the financial year ended March 2017, ahead of full results expected at the start of July. We believe the statement confirms that company will report solid earnings growth y/o/y and strong progress in the overall business plan.

Published: 11:09, 02 May 2017

SDX Energy - Capital Network: Prime Positioned for Acquisition Growth


SDX Energy (SDX.LON) is an oil and gas exploration and production company with assets in Morocco and Egypt. Born out of the merger between Canadian companies Sea Dragon Energy and Madison PetroGas in late 2015, SDX Energy (SDX.LON) was listed on the AIM market in London in May 2016. A solid production base, positive free-cash flow generation and debt-free balance...

Published: 10:17, 26 Apr 2017

Judges Scientific - Capital Network: Unique Play in the Scientific Instruments Market


Judges Scientific (JDG.LON) stands out as a unique player of consolidating scientific instruments market. With its extensive merger history over the past 10 years and combined expertise of highly experienced management teams at both the parent and subsidiaries, the long-term growth outlook for the company appears intact despite the sluggish performance for the recent...

Published: 11:55, 24 Apr 2017

Tribal Group - Capital Network: Restoring a Champion


Within its core Education markets, Tribal Group (TRB.LON) holds market leading positions in the provision of administration software and related systems and services.        

Published: 10:55, 11 Apr 2017

Quadrise Fuels - Capital Network: Fuelled for Growth


Quadrise Fuels International Plc (QFI.LON) (“Quadrise”) is a London (AIM) listed company engaged in the manufacture and marketing of a low viscosity oil-in-water emulsion fuel (MSAR®) for use as a synthetic, low-cost and environmentally friendlier substitute for conventional heavy fuel oil, in power generation and marine diesel engines as well as in on-site utility...

Published: 13:24, 05 Apr 2017

Avacta Group - Capital Network: Milestone Immunogenicity Data


On April 3rd Avacta (AVCT.LON) released the results of a pre-clinical study showing that Affimers have an immunogenicity profile comparable to widely used biotech drugs.  This leaves Avacta (AVCT.LON) on track to move their immuno-oncology therapeutic Affimer into the clinic by 2019.

Published: 15:20, 04 Apr 2017

Charles Taylor - Capital Network: Full Year Results


Charles Taylor (CTR.LON) is a global provider of professional services to clients across the insurance sector.  In addition to providing the traditional services of insurance management, loss adjusting and claims services, it is at the forefront of exciting new developments in “insurtech”.  Charles Taylor (CTR.LON) has three main professional services’...

Published: 11:11, 03 Apr 2017

VOF.L - Capital Network: Vietnamese Play that Outperforms the Market


VinaCapital Opportunity Fund (VOF.LON) is a closed end fund domiciled in Guernsey, and provides exposure to the attractive growth market of Vietnam. We believe it is a very efficient way to gain exposure, and the quality of the fund is underpinned by its strong management team which has international experience, but importantly are Vietnamese who have deep understanding...

Published: 11:53, 24 Mar 2017

Oxford Biomedica - Capital Network: Leading Gene Delivery Platform


Oxford BioMedica, a UK-based, clinical stage biotech company, is a global leader in the exciting and rapidly advancing field of gene and cell therapy. They have their own portfolio of pre-clinical and clinical-stage product candidates and also have licensed technology and provide revenue-generating services to third parties, most notably Novartis.  Novartis’s...

Published: 12:41, 23 Mar 2017

Hibernia REIT - Capital Network: Dublin Real Estate Play with a Growing Yield


Hibernia (HBRN.LON) is an internally managed Real Estate Investment Trust (REIT) with a portfolio comprised largely of city centre offices and developments in Dublin. At endSeptember 2016, the company’s portfolio included 28 properties valued at €1.0bn. The office portfolio, which makes up c. 90% of the company’s property assets by value, had a potential total net...

Published: 10:31, 17 Mar 2017

On the Beach - Capital Network: Sunny Times Forecasted


On the Beach (OTB.LON) is a leading online retailer of ‘mainstream’ short-haul beach holidays, primarily targeting customers in the United Kingdom under the "On the Beach" brand. It currently has a market share of the UK online short-haul beach holiday market of approximately 19per cent, with its two largest competitors being TUI Travel and Thomas Cook.

Published: 11:16, 16 Mar 2017

Capital Network: Premier League Management Team Provides Turnaround Play


Goals Soccer Centres PLC (GOALS.LON) is an operator of small sided football (“SSF”) clubs across the UK, established in 2000. Goals now operates 46 FA affiliated clubs across the United Kingdom, two clubs in the USA (Los Angeles) and employs over 700 people.

Published: 10:25, 14 Mar 2017

Avacta Group - Capital Network: Initiation of Coverage


Avacta (AVCT.LON), a UK-based biotechnology company, has developed an innovative proteinscaffold platform, with potential applications in the life sciences research, diagnostic and therapeutic markets.

Published: 10:40, 08 Mar 2017

Empresaria Group – Capital Network: Full Year Results


Empresaria (LON:EMR) has outperformed its immediate sector peers by 99% over the last 3 years, and the FTSE All-Share by 142%. This reflects strong growth in earnings and cashflows, which we attribute to the group’s focus on high growth markets.

Published: 12:30, 01 Mar 2017

Upland Resources - Capital Network: Overview


Upland Resources (UPL.LON) is an independent oil and gas exploration company run by a highly experienced and well connected management team, executing a strategy of securing low-risk near-term production cash flows in order to fund the acquisition of higher-risk transformative assets. So far Upland Resources has secured one asset onshore UK and is in the process of...

Published: 16:03, 27 Feb 2017

Sound Energy - Capital Network: Brief Overview.


Sound Energy (SOU.LON) is an AIM-listed upstream gas company with a balanced exploration and appraisal portfolio focussed on three strategic assets in onshore Morocco and Italy. The share price has trebled in the past year, following drilling success in the Tendrara licence of eastern Morocco. The work program of the next 12-18 months has the potential to de-risk...

Published: 15:59, 27 Feb 2017

Green Dragon Gas - Capital Network: Upgrades in Reserves Estimates


On 27 February 2017, Green Dragon Gas (GDG.LON) published reserves estimates as at 31 December 2016 up vs. 2015, representing the 11th consecutive increase in both 1P and 2P reserves. Updated NPV10 values also show an increase y-o-y. We keep our earnings estimates unchanged as a result whilst our risked valuation changes only marginally, up to 226p from 215p previously,...

Published: 15:57, 27 Feb 2017

Fenner PLC - Capital Network: Flash Report


Fenner’s (FENR.LON) share price has gained 200% from its 2016 trough level. But it’s worth remembering that the trough-to-peak share price move from 2009-2012 was 1,280%.  The company makes polymer conveyor belts for mining and heavy industries as well as specialised polymer components for a range of applications from specialised industrial to oil and gas to medical...

Published: 15:51, 23 Feb 2017

Cadogan Petroleum - Capital Network: Trading at Discount to Cash


Cadogan Petroleum is an independent oil and gas exploration and production company with onshore oil, gas and condensate assets in Ukraine. The shares are listed on the main market of the London Stock Exchange and currently trade at a substantial discount to the value of net cash on the balance sheet. We believe a recent management change and refocussing of the strategy...

Published: 13:08, 23 Feb 2017

LEKOIL - Capital Network: Flash Report


Lekoil is an AIM-listed indigenous Nigerian oil producer with assets in the onshore and offshore Niger Delta as well as a non-core position in Namibia. Production from its Otakikpo marginal field has now started at a rate of 5,000bbl/d and management is guiding for an exit rate of 10,000bopd for this year. The share price has risen +70% in the past 12 months in...

Published: 15:51, 22 Feb 2017