* 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:
None
Delistings:
None
What’s baking in the oven?
Potential IPOs:***
11 March: Halo Minerals, a mineral development Company focused on the evaluation and potential development of mineral assets, announced its intention to IPO onto AIM. The Company's principal asset is the Playa Verde Project comprising 6 mining concessions over an area of approximately 13.57km sq. of copper-bearing tailings located in northern Chile. The Company plans to advance the Playa Verde Project on an accelerated timeline to production, utilising the funds raised on Admission, which is expected to take the project to a final investment decision, or to a stage when alternative material project funding options are available for the Project. Deal details TBC and expected Admission date is late-March 2026.
4 March: Scotch Corner Designer Village Holdings plc, which is developing a largely pre-let retail and leisure destination in the North of England, announced its intention to apply for Admission to trading on the Aquis Real Asset Market (ARAM) segment of the Aquis Stock Exchange Growth Market. The Company is seeking to raise £25.5m. The listing is expected to complete in April 2026.
Reverse Transactions:***
4 March: Vulcan Two (VUL.L), the AIM quoted investing Company is aiming to create the UK's leading regulated ePharmacy through a buy-and-build strategy. On 26 February, the Company announced that it has conditionally agreed to acquire three companies in the UK ePharmacy market, being CloudRx, Hyperdrug Pharmaceuticals and Webmed Pharmacy. The total maximum consideration for the Acquisitions is approximately £41.7m. To satisfy the consideration payable for the Acquisitions, the Company has conditionally raised gross proceeds of £40m. The Acquisitions, individually and collectively, constitute a Reverse Takeover. Anticipated market capitalisation on readmission will be £54.6m.
Expected Admission date is 19 March.
Market Movers:***
25 February: Roquefort Therapeutics (ROQ.L),the Main Market listed biotech Company, is acquiring assets from Coiled Therapeutics, Inc. and A2A Pharmaceuticals, Inc. and at the same time moving to AIM. £8.5m is to be raised on Readmission at an issue price of 10 pence per share with an anticipated market cap of £42.6m. Expected Admission date is 27 March 2026.
Banquet Buffet****
Abingdon Health 8.50p £20.09m (ABDX.L)
The developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech wins a significant contract. The Services Agreement is with a UK-based customer and has an expected value of approximately $2.5m to provide project management and expert technical support for the development and regulatory submission of a clinical self-test. This will be across three key phases: Feasibility, Design & Development and Verification & Validation. The contract is to commence shortly with most of the revenues to be recognised in FY June 2027. The Agreement demonstrates the value of Abingdon’s project management platform to major international organisations.
Asiamet Resources Limited 1.60p £52.26m (ARS.L)
The Copper producer in Indonesia entered into a conditional agreement for the sale of its interest in Indokal Limited, which owns a 100% indirect interest in the KSK Project to Norin Mining (Hong Kong) Limited. Further to the Company's announcement on 29 January confirming shareholder approval of the Transaction, Asiamet announced that it has been informed by Norin Mining that the customary Chinese regulatory approval required for the Transaction, being the approval from the State-owned Assets Supervision and Administration Commission of the State Council, has been obtained. Completion of the Transaction remains subject to the satisfaction of the remaining conditions, including relevant Indonesian regulatory processes, as previously announced.
Aura Energy Limited 5.75p £68.81m (AURA.L)
The dual-listed Uranium and Polymetallic Company announced that the transaction, to introduce strategic investors into the 100% owned Häggån project and list it on the TSX Venture Exchange, has been deferred pending the outcome of the Government of Sweden's announced inquiry into the mining of alum shales. The Company remains committed to the project, citing Sweden’s goal of 100% fossil free electricity by 2040 and the need for domestic Uranium resources.
Cobra Resources 5.25p £48.84m (COBR.L)
The South Australian mineral exploration and development Company announced resource definition drilling using two Sonic Core drill rigs has commenced across its Wudinna rare earth prospects, Boland and Head. Infield hydrology studies and bench scale tests completed by the Australian Nuclear Scientific Technology Organisation support that the mineralisation at Boland can be mined through non-invasive and low-cost in situ recovery. The Company's next objective is to drill out a maiden Mineral Resource Estimate of scale. The Boland Project represents a new form of ionic rare earth mineralisation which mitigates the environmental risks associated with other traditional processes.
European Green Transition 6.63p £9.94m (EGT.L)
The Company focused on building a pipelines of high-quality green economy assets in Europe announced that it has raised proceeds of £7.5m at a share price of 0.25p each. The proceeds of the fundraise will be used to repay £1.5m of the Bridge Facilities with the remaining £1.5m facility held by Roaring Waters Capital Limited, which will be converted into 25m new shares as part of the fundraise. The funds will also be used to support the balance sheet, for support of the O&M business, and for the pursuit of bolt-on acquisitions within the critical infrastructure sector.
First Class Metals 1.40p £2.87m (FCM.L)
The metals Company focused on exploration properties in Ontario, Canada, provided an update on the ongoing drilling programme at the Roy prospect on the Sunbeam Property, where drilling has intersected a broad mineralised structure and visible gold has now been identified within drill core. Visible Gold has been observed in the core of one drill hole, and all holes completed to date have successfully intersected the mineralised package. The drilled structure currently boasts a strike length of over 250 metres. With the program nearing completion, further analytical results are expected to be released shortly.
Georgina Energy 5.50p £7.27m (GEX.L)
The Helium, Hydrogen, and natural resources development and production Company updated on the supply of its Ensign 970 drilling right for its Hussar prospect re-entry well EP513 in Western Australia. Georgina is in discussions with Ensign, who has until 18th March to respond to the standard contract provided. The Company is also considering other rigs prior to execution of the contract, while it remains on target for civil engineering works to enable the drill testing of this prospect in Q3 2026.
Jubilee Metals Group 3.75p £121.30m (JLP.L)
The Zambia copper focused producer announces that is has secured additional high-grade copper feed material for the Roan concentrator and provides an update on its Large Waste Project. High-grade (approximately 1.54%CU) was secured for US$1.8m. Installation of the expanded concentrate dewatering system at Roan is nearing completion, with expected commissioning by the end of March 2026. At the Large Waste Project, the sellers have elected to receive the next stage payment of US$2.6m in Jubilee shares. The payment leaves a remaining balance of the acquisition of approximately US$5.4m.
Optima Health 183.50p £162.02m (OPT.L)
The provider of technology enabled corporate health and wellbeing solutions announced that it has entered into a strategic partnership with Perkbox, a global employee benefits and rewards platform to deliver a full suite of Employee Assistance Programme and mental health services to Perkbox's clients. Under the terms of the agreement, Optima will transfer clinical and administrative staff to support the delivery of Optima's technology-driven solutions to Perkbox's clients, with scope to further expand the service offering over time. The five-year contract has an estimated value of £6.5m per annum to Optima, after an initial implementation period. The contract forms part of the £8.3m annualised new business that was secured or at preferred bidder stage in the Company's HY26 results.
Shearwater Group 42.50p £9.98m (SWG.L)
The cybersecurity, advisory and managed security services Group has secured a contract valued at around £1.3m with a major UK telecommunications provider to install an advanced network monitoring solution. The solution will enable the telecommunications provider to proactively monitor network performance and identify potential issues before they impact services. As networks continue to increase in scale and complexity, organisations require greater visibility and proactive performance insight. Delivery of the solution is expected to commence shortly and will be recognised in FY26.
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