01_GCI_Nov_09 30/10/09 17:17 Page 1
November 2009
GROWTHCOMPANY
INVESTOR
THE INDEPENDENT VOICE ON FAST-GROWING COMPANIES
Cuba play moots
COMPANY WATCH p7
Mears: so much more to come
£50m London float
Under no-nonsense entrepreneur Bob Holt
(pictured right), who floated the business on
AIM at 10p back in 1996, Mears has garnered
a large City fan club thanks to its terrific
track record. Yet, despite having created so
much shareholder value already, there is
much more to come from Mears, offering
growth in the large, defensive social housing
and care services markets where the risk of
spending cuts is low.
COMPANY PROFILE p10
Little OneClick packs heavyweight punch
While impressive client lists, ties with powerful
partners or the usurping of bigger competitors
are not infrequent among the AIM ranks, they
rarely all occur at the same company. That is what
makes Beckenham-based human resources
software specialist OneClickHR (OCR) special.
The heavyweight quality of its customer base is
surprising for a company with such a lowly market
cap, especially when you consider that these
clients rely on OCR’s software to manage their entire workforces.
CITY NEWS
Proximagen
a £50 million fundraising at 140p.
E
ntrepreneurial Canadian mining and years securing licences Chief executive officer Ken
leisure chief Wally Berukoff (pictured and ensuring that there
expands
Mulvany declares that the board is
right) says he is considering raising were no disputed pre- ‘confident the programmes we have
around £50 million on the London Stock revolutionary US or other acquired will become important
Exchange next year for his Vancouver company claims on the plots in value drivers for the group, offering
Leisure Canada, which is poised to make big question, he highlights P
roximagen Neuroscience
has agreed to buy Cambridge significant market potential, with
money out of the thaw in relations between the two sites in particular – Biotechnology and development limited financial risk’.
USA and Cuba. He says he recently completed a Monte Barretto, a £110 programmes from Swedish Floated at 148p four years ago
£12 million funding from United Arab Emirates million project in Havana’s group Biovitrum. Quoted on AIM and backed by Growth Company
investors for the company, now listed on the Miramar district, and the larger Jibocoa project, and based at King’s College, Investor last August at 98p,
Toronto Venture Exchange, which has stolen a for six hotels and three golf courses, where London University, Proximagen Proximagen shares now trade at
march on the competition and secured prime Qatari interests are also active. will pay the Swedish group 125p, valuing the company at £72
tourism development sites in the Caribbean Berukoff, who befriended Fidel Castro during as yet undisclosed amounts million. They could perform better
outpost of Communism, ahead of the his mining days but says his brother Raúl, Cuba’s from future revenues generated than several sector peers.
imminently expected lifting of curbs on US new president, is more pragmatic, claims that from the drug development
citizens travelling there. European institutions, such as Société Générale, programmes acquired.
Of Kazakh and Ukrainian extraction, Berukoff – are interested in Leisure Canada. He argues that The acquisition will bring London Asia
who mined gold and copper at Minera Mantua in the full LSE would be more liquid than AIM. Proximagen several of Cambridge
Cuba for years (with funding from Barclays Leisure Canada shares have not been a good Biotechnology’s programmes, as fights back
Bank), before moving into leisure – says Leisure investment recently, and the latest funding was well as clinical-stage agonist and
Canada has licences for hotels with 4,200 rooms, done at 20 cents, less than a tenth of their bull cognition programmes. The
three golf courses and marinas, with land on the market peak. But, if Berukoff does pull off his company says this deal is D
elisted London Asia Capital
(LAC) has urged
waterfront in new Havana and between two of coup, punters in London as well as Canada consistent with the strategy it shareholders to oppose hedge
Cuba’s main airports. After spending several could warm to them. outlined in June when it pulled off fund QVT’s demand to sell its
continued on page 2
Feature: p12 Feature: p24 Column: p15
Picking AIM’s property performers Arming your portfolio New Issues Examined
For canny investors, there are profits to be made Across global protection, defence and military The recent momentum in the AIM new
in a property sector now showing resurgent markets, a select band of small-cap companies issues market continued into October with
signs, says Robert Tyerman are poised for resilient growth, writes James Crux three impressive fundraisings
www.growthcompany.co.uk
A Vitesse Media Plc publication
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