Admissions:
None
Delistings:
Yesterday, Field Sys Designs (AQSE.FSD), left the Aquis Stock Exchange.
Potential** Initial Public Offerings:
Updated 10th June: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announced that its proposed IPO onto the Main Market, which was expected to occur in late June, will be briefly delayed. A routine thematic compliance inspection commenced earlier this year in the BVI, which was disclosed in the Company's Registration Document, requires additional time to enable finalisation ahead of the IPO. The inspection process is close to completion and the Company anticipates only a short delay to the IPO timetable. The Company reports the IPO has received strong investor interest and based on firm orders received to date, the institutional offer is heavily oversubscribed. Deal size and timing remains TBC.
Market Movers:
Updated 4 June 2025: Ajax Resources (AJAX.L) is planning to move to the Aquis Stock Exchange Growth Market Access Category from the Main Market of the London Stock Exchange. The Company expects cancellation to take place at 08:00 BST on 18 June 2025, with Admission to trading on AQSE to occur concurrently. Ajax is pursuing a strategy as a natural resources investment company, with a focus on Copper, Gold, Zinc, Uranium, and Lead. The Company completed its first acquisition on 21 May 2025. The Company’s first acquisition was the purchase of Puna Metals S.A., holding the mining rights for 12 licences, collectively forming the Eureka Gold and Copper project in the north-west corner of the Province of Jujuy in Argentina.
Adsure Services 25p £2.7m (AQSE:ADS)
The audit and assurance services provider updates on 'TIAA Insight', Adsure Services' proprietary AI-powered internal audit and risk mitigation tool. A project evaluation panel has been established to blind test sample data, comparing human internal auditor recommendations with those generated by TIAA Insight. The confidence levels are set above a 95% threshold to determine the model's success in outperforming human outcomes. If the testing is successful Adsure Services plans to deploy TIAA Insight to augment internal risk assessment and mitigation processes before considering launching a licensed software product for the wider industry.
Castings 273p £118.86m (CGS.L)
The iron casting and machining group primarily focused on the European heavy truck market reports finals to FY March 2025. Group revenues decreased by 21.1% to £177.0m compared to £224.4m reported in 2024, of which 84% was exported (2024 - 85%). The group operating profit for the year was £4.8m compared to £19.8m reported in 2024, which represents a return on sales of 2.7% (2024 - 8.8%). The cash position at 31 March 2025 was £15.6m compared to £32.5m in the previous year. The Board have however decided to leave the dividend unchanged at 18.4p per share despite the lower demand. The European heavy truck market comprises nearly 75% of sales and was generally lower but particularly in Germany. Demand from the US was strong in H1 but declined as the year progressed with the greater political and economic uncertainty.
Capital Metals 3.15p £13.51m (CMET.L)
The mineral sands company updates on drilling at the Taprobane Minerals Project in Sri Lanka. The drilling within the northern EL168 area, focusing on the Initial Mining Area of the existing 17.2 Mt Mineral Resource indicates high-grade mineralisation at depth and outside the Mineral Resource. The drilling extended down to 15m with an average depth of around 10m while previous hand auger drilling only went to an average of 1.6m depth. The preliminary indications from panning of samples obtained are in some cases over 60% Total Estimated Heavy Minerals, compared to existing Mineral Resource grade of 17.6%. The Chairman stated the drilling is confirmation of the exploration model and validates expectations of a substantial resource increase.
Creo Medical Group 15.5p £63.93m (CREO.L)
The medical device company focused on the emerging field of minimally invasive surgical endoscopy for pre-cancer and cancer patients, has received FDA clearance. This is for the SpydrBlade Flex device, which is a unique multi-modal endoscopic device designed for precision and adaptability in therapeutic endoscopy procedures. Following the commercial launch of the product in Europe in March 2025, the list of established clinical use-cases is growing. This is an important milestone as the FDA clearance allows Creo to initiate the launch of SpydrBlade Flex in the U.S. market.
Frontier Developments 306p £118.5m (FDEV.L)
The developer and publisher of video games provides an update on trading for the financial year ended 31 May 2025. Revenue increased to £90.6m (FY24: £89.3m), with revenue from Frontier's genre-leading Creative Management Simulation (CMS) games growing 25% year-on-year. Profitability grew significantly, with Adjusted EBITDA expected to be in the range of £8m to £9m (FY24: £0.9m). Cash grew by £13.0m to £42.5m at 31 May 2025 (31 May 2024: £29.5m). A share buyback programme of up to £10m will be initiated, subject to shareholder approval. Having achieved growth in revenue, profit and cash in FY25, the Board is confident in Frontier's ability to deliver further annual growth in FY26 through nurturing and expanding our genre-leading game franchises.
OptiBiotix Health 12.75p £13.2m (OPTI.L)
The life sciences business developing products which reduce hunger and food cravings, announces a peer-reviewed study on SlimBiome in the European Journal of Nutrition. The journal reports that the double-blind placebo-controlled study found a single 3g dose of SlimBiome significantly reduced insulin levels, hunger, and the desire to eat whilst increasing the feeling of fullness. These are key factors in appetite regulation and the study conclusion highlights the potential of SlimBiome as a non-pharmaceutical approach to weight management.
Record 54.8p £105.4m (REC.L)
The specialist currency and asset manager announced the signing of a non-binding term sheet for $2.2bn project finance. The joint venture is with both One World Impact Partners and OWI-RAM to fund Kore Potash PLC. The total funding requirement is for approximately $2.2bn and is for the Kola Potash Project in the Republic of Congo. The JV investment strategy is focused on advancing global food security and accelerating the energy transition through strategic investments in food system enablers and next-generation critical energy infrastructure.
Ten Lifestyle Group 60p £57.57m (TENG.L)
The concierge technology platform driving customer loyalty for global financial institutions and other premium brands, announces a new multi-year contract. It is with a Japanese financial services provider’s High Net Worth clients. Ten will launch a digitally enabled concierge and lifestyle programme, which will include the newly launched chat service. This contract is expected to support revenue growth in FY 2026, alongside a strong pipeline of further opportunities being driven by Ten's AI-backed technology and digital platform.
Verici Dx 1.375p £3.3m (VRCI.L)
The developer of advanced clinical diagnostics for organ transplant, provides an update on funding. The Company is proposing to carry out an equity fundraising to extend the Company's cash runway and enable it to achieve its commercial objectives for Tutivia, its diagnostic test for acute rejection. The Company remains on track to deliver $3.2 m in Tutivia revenues for FY 2025, which is in-line with market expectations. At the end of May the cash was $1.04 m, having received the $750k commercial milestone payment from Thermo Fisher. The Audited results for Y/E December are expected by the end of June.
Windar Photonics 52.4p £50.35m (WPHO.L)
The technology group that has developed a LiDAR-assisted monitoring and optimisation solution across multiple wind turbine platforms, updates for the FY December 2024. A delivery of products that was shipped to a customer in H2 2024 was not paid until early January 2025. As a result of this delay, revenue expectations for 2024 are reset at EUR4.6m with an EBITDA loss of circa EUR0.4m. This change purely relates to accounting and has no financial impact on the business.
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