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* A corporate client of Hybridan LLP.
** Potential means Intention to Float (ITF) or similar announcement has been made.
***Arranged by type of listing and date of announcement.
****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication.
Admissions:
Dotlines Global Limited (DOTL.L), a UK-based international technology group operating in the telecommunications, digital infrastructure, cybersecurity and financial technology sectors, confirmed that its issued share capital has today commenced trading on AIM at a valuation of £58m, via reverse takeover by Ikigai Ventures Ltd, a special purpose acquisition vehicle focused on acquiring high-growth, scalable businesses.
Delistings:
None
What’s baking in the oven?
Potential IPOs:***
30 April: Reveille Resources, the European-focused investment Company, intends to list on the Aquis Growth Market. Zenith Energy (ZEN.L) has agreed to spin out Futuro Energetico Italiano Srl (FEI) to Reveille on a “no profit, no loss basis”. Reveille has been established to pursue a strategy focused on identifying undervalued historical mineral deposits with significant exploration potential across Europe. The Lombardy Project will be Reveille's flagship project. Deal details and Timing TBC.
16 April: The National Investment Fund of the Republic of Uzbekistan (UzNIF) announced that it has confirmed its intention to proceed with an IPO in the form of ordinary shares and Global Depositary Receipts. All of the Securities to be offered as part of the Offering will be secondary shares from The Ministry of Economy and Finance of the Republic of Uzbekistan. The Offer Price has been set at USD 25.00 per GDR and UZS 4.65 per Offer share. With 5,054,262,531,127 Shares in issue, the Offer Price implies a market capitalisation of approximately USD 1.95bn. The LSE Admission and commencement of unconditional trading in the GDRs on the LSE are expected to take place on or around 18 May.
17 March: Vista Parcs Group has announced its intention to IPO onto AIM. The newly incorporated entity is proposing to acquire a portfolio of 13 UK-based holiday and residential parks currently owned by Barney Group 2 Ltd (BG2) and operated by Baslow Parks Ltd. Deal details TBC and expected Admission date anticipated mid-May.
Reverse Transactions:***
1 May: Lansdowne Oil & Gas (AIM: LOGP), the Company currently suspended from trading on AIM, announced the conditional acquisition of Sao Gabriel Mineracao Ltda. a graphite project in Brazil whilst continuing to progress its litigation claim under the Energy Charter Treaty which has now received litigation funding to pursue a minimum of US$100m (plus interest) claim against Ireland in relation to the Barryroe project. The Company has published its AIM Admission Document and has conditionally completed an equity fundraising of £1.9m by way of a placing. Net proceeds of the Fundraising will allow for the advancement of Macaubas Project through an active exploration programme and provide general working capital. The Company will change its name to Lansdowne Resources and readmission to AIM is expected to occur on 27 May.
19th December 2025: Talon Resources (TAR.L), previously Medcaw Investments, the Company focused on identifying and acquiring prospective mining projects in the precious metals sector, with a primary focus on gold and other high-value commodities announced that it has entered into binding heads of terms (which includes an exclusivity agreement until 31 October 2026) with Ulvestone Ltd in respect of the proposed acquisition by the Company of 90% of the legal and beneficial interest in certain mineral exploration licences located in Ontario, Canada. The aggregate consideration payable by Medcaw is £4.17m, to be satisfied £70k in cash on execution of the definitive share purchase agreement, £100k in cash on AIM Admission, and £4m satisfied through the issue of new ordinary shares in Medcaw at a price of 1.5p per share, to be issued on AIM Admission.
Market Movers:***
13th April: EDX Medical (AQSE:EDX) which develops digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announced its intention to move to AIM from AQSE. No new capital is to be raised on Admission and the anticipated market capitalisation is £44.28m. Expected Admission date of 13th May.
26th March: Seed Capital Solutions, a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, announced that it is working towards finalising the documentation required for the proposed acquisition of Cuarta Dimension Medica SL in exchange for the issue of new ordinary shares in the Company. Subject to completion of the Proposed Acquisition, the enlarged Group will operate as an AI-driven medical diagnostics business, initially focused on the veterinary sector with scope to expand into the wider healthcare market. In conjunction with the Proposed Acquisition, the Company intends in due course to request the cancellation of the listing of its ordinary shares on the FCA's Official List and to cease trading on the London Stock Exchange's main market for listed securities. Instead, the Company intends to apply for its enlarged issued share capital to be admitted to trading on AIM.
Banquet Buffet****
London Stock Exchange: Main Market and AIM
Aurrigo International 70.00p £60.33m (AURR.L)
The UK based developer and producer of autonomy software, fully autonomous vehicles and mobile robotics platforms announced a new three-year £4.5m framework agreement to supply new, innovative high performance electrical system sets for a next generation supercar programme. Under the terms of the agreement, £0.81m of contracted orders will be recognised in FY26, with the remainder due to be placed across FY27 and FY28 in line with the customer's production schedule.
Coppa Collective 14.25m £24.07m (COPC.L)
The premium, multi-format hospitality group, updates on Interim Trading to March 2026. Sales are reported to be 3.2% ahead of market expectations with the improvement across the estate. Since March the conversion of 31 Below into Coppa Club Marylebone was completed and the acquisition of The Linwood Collection, establishing its third operating brand, was effected. The cost base remains well protected with electricity hedged for five years and gas for a further 18 months and supply chain costs are being closely monitored. There is a good pipeline of opportunities, and the Board is confident the business is moving in the right direction.
First Development Resources 2.50p £3.48m (FDR.L)
The UK-based, Australia-focused exploration Company with mineral interests in the Northern Territory and Western Australia announced the appointment of GD GeoDrill Australia Pty Ltd as drilling contractor for the Company's maiden Phase I Reverse Circulation drilling programme at the Lander West gold target within its 100%-owned Selta Project in the Northern Territory. The appointment of GeoDrill Australia represents a significant operational milestone for the Company and follows completion of the necessary regulatory approvals required to commence drilling activities at Lander West.
Hamak Strategy Limited 0.90p £3.62m (HAMA.L)
The Company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy announced that it has received the first batch of assay results, comprising 4 holes of the planned 72 hole 4,125m reverse circulation (RC) drill programme at the Akoko oxide gold project in southwest Ghana. Intersections include 29.53g/t gold over 4m from 7m and 6m at 3.15g/t Au from 64m and results support geological model of wide, near surface gold mineralized horizons. The RC programme is ongoing with a total of 72 holes for 4,125m planned.
Kendrick Resources 4.6p £14.0m (KEN.L)
The mineral exploration and development Company announced an update at its flagship Teufelskuppe (TK) rare earth project in south-west Namibia, following the completion of a high-resolution Digital Elevation Model survey and updated volumetric assessment of surface mineralisation. 14m tonnes of high-grade, above ground carbonatite mineralisation was identified from exposed outcrops and an in-house non-JORC (2012) tonnage estimated based on high quality volumetric modelling and updated bulk density data. Surface carbonatite grades ranging from 2.2% to 7.06% TREO, placing TK amongst the highest grade rare earth projects globally.
Nativo Resources 0.40p £3.11m (NTVO.L)
The Peru-focused gold mining Company announced a JORC (2012)-compliant Exploration Target for the Bonanza, Tesoro, Tesoro_1 and Morrocota vein systems within its wholly owned Tesoro concession in southern Peru. Highlights include contained gold of approximately 6,686 - 195,434 oz, tonnages between 79,051 to 316,200 t and superficial vein lengths of 6,200m within the concession. The Board believes the results highlight the significant upside potential across multiple veins, where strong grades support the project's capacity to deliver meaningful gold production. The Exploration Target provides a clear framework for the next phase of systematic appraisal aimed at defining a JORC-compliant Mineral Resource Estimate.
Panther Metals 122.50p £9.57m (PALM.L)*
The exploration Company focused on mineral projects in Canada reported the fifth batch of Vibracore sample assay results for the Winston Tailings Project near Schrieber, Ontario, Canada. The Vibracore tailings sampling is in support of the Mineral Resource estimate (MRE) programme, the first of a series of ongoing workstreams progressing to quantify, evaluate and permit the contained high-grade gold (Au), gallium (Ga), silver (Ag), zinc (Zn), copper (Cu), indium (In) and cobalt (Co) and other recoverable minerals located within the historic Winston Lake Mine tailings storage facility (TSF). Results continue to show good grade consistency across the vertical depth-profile and laterally between Vibracore hole collar locations, and support or exceed the 2025 preliminary assay results.
Pennant International Group (UK) 19.5p £8.57m (PEN.L)
The systems support software and training solutions Company announced a new contract win within its Training Systems segment. This new customer contract, initially valued at £1.0m, is for the supply of a virtual training simulator developed specifically for a UK manufacturer of air defence applications. The initial order covers the design, development and testing of the simulator and is subject to the provision of a bank guarantee which is being finalised and expected shortly. This contract further strengthens Pennant's order book, with over £11m of new orders secured within the Training Systems segment since the Group's Interim Results in September 2025. Delivery of the initial contract is expected in H2 2026.
Shoe Zone 42.5p £20.8m (SHOE.L)
The footwear retailer announced its interim results for the 26 weeks to 28 March 2026. Revenue reduced by 12% to £62.9m (2025 H1: £71.5m), there was a Loss before tax of £5.3m (2025 H1: Loss £2.3m) and Net cash was £7.5m (2025 H1: £1.7m) at the end of the period. No interim dividend is being proposed (2025 H1: Nil). As announced on 22 April 2026, the Company now expects an adjusted loss before tax for the full year of between £1.0m and £2.0m.
Aquis Market:
Sulnox Group 52.50p £75.89m (AQSE:SNOX)
The greentech Company delivering lower fuel costs and emissions with zero capex announced a distribution agreement with Performance Products & Services (PPS), a supplier to the industry operating across Southern India and Sri Lanka. The partnership represents a further expansion of Sulnox's distribution footprint in one of the world's fastest-growing and most energy-intensive economies. Headquartered in Chennai, PPS commenced operations in 2005 as a high-performance lubricant distributor for Castrol India and has since grown into a well-established industrial sales and trading group.
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