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Faces turn towards AIM

Canadian cosmetics and skincare products business Faces Cosmetics today announced its intention to join the junior London market by way of an introduction. The business operates on a franchise model, taking a cut of sales revenues and royalty payments, and sells its products wholesale to franchisees.

Faces' product line of over 1,000 items currently retails in 54 outlets throughout Canada, Mexico the US and Ireland. Now focused on lengthening its reach to the UK market, Faces is expected to begin trading on AIM on 7 September at a share price of 11.75p, valuing the company at £5.9 million. It is not looking to raise any new money, having already completed a £1.2 million private placing. City Financial Associates will act as nominated adviser and broker to the company.

Another bumper week for new arrivals will see alternative fuel company Prometheus Energy, which specialises in the production, sale and distribution of liquid natural gas (LNG), join AIM this week. The US-based company installs and maintains purification and liquefaction systems that convert low-cost methane bearing gas streams into high value LNG. Prometheus is expected to begin trading on Tuesday 30 August with Jefferies International acting as broker and nomad, but is not looking to raise additional funds.

Elsewhere, Prince Catering and Management, an operator of luxury Cantonese restaurants in China and Hong Kong, is looking to raise up to £625,000 with an AIM float this Thursday. WH Ireland will usher the company through the placing.

Profitability eludes Adwalker

Full year results to February from digital sandwich board specialist Adwalker, saw losses before tax sliced around ten per cent to £1.92 million. Profitability eluded the company due to 'a significant level of investment' made to establish and grow offices in Ireland, the UK and the USA. Yet with a year-on-year turnover increase of 382 per cent in the first five months of the current fiscal year, chairman Padraic O'Connor says that he 'looks to the future with confidence'.

A buoyant trading statement from radio and satellite pick Vislink cheered shareholders in July and it looks like spirits will be lifted again when the company announces half-year figures this Wednesday, anticipated to be ahead of forecasts. The company said that like-for-like sales for the first half were 'over £50 million' (£36.24 million) and that a strong order book lay ahead for the rest of the year.

In other news, investment company Arlington, headed by financier Nick Barham, is due to pay a maiden dividend of 2p per share this Friday for shareholders on the record on 18 August 2006.

And lastly, skincare products play Dermasalve Sciences has acquired Healthy and Essential Limited, a UK distributor for a range of omega-3 products, for a maximum consideration of nine million ordinary shares. Chief executive Dr Mark Randle commented that the addition delivers 'an instant potential market' for the existing range of products and 'a fully established e-commerce platform'. Shares in the company rose 12.24 per cent to 13.75p on the news.