* 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?
It's a little empty
Banquet Buffet****
London Stock Exchange: Main Market and AIM
Dotdigital 46.3p £140.4m (DOTD.L)
The SaaS provider of an AI-powered customer experience and data platform for intelligent personalised marketing engagement at scale, launched Dotdigital Loyalty, a new loyalty product initially developed for Shopify merchants, and Agents in Dotdigital, a natural language prompting interface embedded in core platform workflows. Both products are now live and available to customers, alongside the Group's recently launched Dotdigital MCP server, which connects the platform to a customer's large language model of choice. Together, the launches extend the Group's customer lifecycle proposition, deepens the AI capability embedded across the platform, and increases the revenue opportunity within Dotdigital's existing customer base.
Foxtons 36.65p £108.4m (FOXT.L)
The estate agency and lettings agency brand updated on trading ahead of the announcement of its half-year results on 30 July 2026. Since the Group's Q1 trading update on 23 April 2026, trading has been adversely impacted by the prolonged downturn in the sales market, as well as short-term volatility in the lettings market following the introduction of the Renters' Rights Act (RRA) in May. Following the introduction of the RRA, which abolished fixed tenancy terms and increased tenant flexibility to terminate tenancies, the Group experienced elevated levels of tenancy terminations during May and June, particularly in student rentals. The sales market has become more challenging, as domestic political uncertainty and conflict in the Middle East have contributed to weaker consumer confidence and a higher-than-expected interest rate environment, resulting in lower market transaction volumes. The Group expects to report H1 2026 adjusted operating profit of approximately £8.5m (H1 2025: £12.3m). Full year adjusted operating profit is anticipated to be H2 weighted, reflecting the seasonality of Lettings revenues and a normalisation in tenancy termination levels. As a result, the company expect full year 2026 Group adjusted operating profit to be in the range of £17m-£19m.
Hercules 30p £24.2m (HERC.L)
The UK infrastructure and construction services group, announced that its specialist power and energy subsidiary, Advantage NRG, has secured two further contracts across the National Grid electricity transmission network with a combined value of approximately £3.4m. Advantage NRG, acquired by Hercules in June 2025, is a specialist overhead transmission lines workforce provider operating across the UK power and infrastructure sector. The business supplies highly skilled overhead linesmen and specialist teams supporting the construction, maintenance and upgrade of the UK's critical electricity transmission infrastructure.
MTI Wireless 72p £62.1m (MWE.L)
The technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announced an above average period of demand with multiple orders recently received, together worth approximately US$4m. The contracts included an order totalling US$0.6m for MTI Summit, for the supply of power amplifier solutions to an Israeli defence company, and three orders totalling US$2.1m for MTI subsidiary, PSK to supply military data room and electronic detection solutions and an antenna installation project to two Israeli defence companies and a further US$0.3m service order for the Israeli Ministry of Defence. All orders are expected to be delivered by the end of Q1 2027 with the majority being delivered in H2 2026.
Neoterra Group 2.25p £10.3m (TERA.L)
The African critical minerals exploration and development company, provided an update to the Mineral Resource Estimate for Fluorite Zone and Python at its Monte Muambe Project in Mozambique. The updated MRE incorporates Heavy Rare Earth Elements for the first time and demonstrates the potential to recover a valuable HREE-rich concentrate alongside the Company's planned acid-grade fluorspar production. The additional product stream has the potential to increase projected revenues for the fluorspar project by up to 40% over the life of mine, whilst requiring only modest incremental capital expenditure and operating costs. The potential annual production is up to 650 tonnes of HREE-rich concentrate, subject to metallurgical optimisation.
Northern Bear 107.5p £14.8m (NTBR.L)*
The specialist building service provider announced its unaudited preliminary results for the year ended 31 March 2026. Revenue was £86.1m, an increase of 10.2% year on year, while gross profit was £22m, up 14.6% year on year. Adjusted EBITDA was £5.5m and operating profit rose to £5.1m from £3.4m ending the year with a net cash position of £6.2m. Trading has been strong throughout FY26, with the Group continuing its strategy of maintaining a good balance of private and public sector clients, despite a wet winter period. A final dividend of 2.5p per ordinary share is proposed. In addition, a special dividend of 5.0p per ordinary share is proposed to reward shareholders, following the trading performance in FY26 and reflecting the non-recurring exceptional profits in that year. Trading in the first quarter of the current financial year (FY 27) has been stable, and results are in line with management expectations.
Shoe Zone 57.5p £26.6m (SHOE.L)
The footwear retailer announce that over the last two months of trading (May & June), the Company achieved sales ahead of market expectations. This was aided by the Company's warehouse closing down sale and favourable seasonal weather at half term. As a result of the higher sales, the Company's cash position has also improved, with the Board continuing to monitor cash management and deployment going forward. Accordingly, the Board now expects an adjusted loss before tax of no greater than £1.0m for the financial year ending 3 October 2026, an improvement on the previous guidance of an adjusted loss before tax in the range of £1.0m - £2.0m announced on 22 April 2026.
SIG 7.65p £88.4m (SHI.L)
The supplier of specialist insulation and building products across Europe, issues a trading update for 1 January 2026 to 30 June 2026. Group like-for-like sales declined in the first half (-1.5%) versus the prior year due to continuing challenging conditions in major markets, which were exacerbated by poor weather conditions at the start of the year. The Group's performance improved in Q2 (LFL +1%) following a particularly weak Q1 (LFL -5%) with first half underlying operating profit anticipated to be c. £10m (H1 2025 £15m). Net debt at 30 June 2026 was £532m (including leases) with liquidity remaining strong at £154m despite a targeted inventory build ahead of raw material price increases. Whilst trading in the first half improved sequentially, no material recovery in market conditions in H2 2026 is anticipated and, therefore, the Board now expects the FY 2026 underlying operating profit to be c. £25m. Liquidity levels are expected to remain healthy going forward and will benefit from the stronger seasonal cash generation profile in the second half.
Somero Enterprises 210p £108.7m (SOM.L)
The manufacturer of laser-guided concrete levelling and placing equipment updated on trading ahead of announcing its results for the six-month period ended 30 June 2026 on 8 September 2026. The Board reported better-than-expected trading in H1 2026, as improved conditions seen toward the end of 2025 continued through the first half, primarily reflecting continued stabilisation in US private non-residential construction, the Company's largest market. Following the stronger first half, and assuming trading in the second half of the year is in line with management expectations, the Board now expects FY 2026 revenue to be ahead of market expectations, with revenue of $86m and an adjusted EBITDA of $15.9m.
AQSE Market
Reveille Resources 12p £7.7m (AQSE:REV) The natural resources exploration and development company, established to pursue Uranium opportunities in Europe, announced that the Company's fully owned Italian subsidiary, Futuro Energetico Italiano S.r.l, a special purpose vehicle established to hold and develop the Val Vedello and Novazza uranium projects in Italy, has now submitted a comprehensive Environmental Impact Assessment or Valutazione di Impatto Ambientale to the Italian Ministry for the Environment and Energy Security for the Val Vedello project in the Province of Sondrio in Lombardy, Italy, representing the commencement of the final regulatory review process prior to the granting of the exploration license. Based on the applicable permitting timetable, the Company expects the review of the Val Vedello EIA to be completed within approximately six to nine months of submission. Upon completion of the environmental review process and receipt of the necessary approvals, the exploration license is expected to be granted.
What’s baking in the oven?
Potential IPOs:***
Dual List:***
Bravura Solutions (ASX: BVS) the global provider of enterprise software for the wealth management and funds administration industries has announced its intention to dual list on AIM. Bravura is currently listed on the Australian Securities Exchange (ASX) and Admission to AIM is being sought via the AIM Designated Market Route. No capital to be raised on Admission with a market cap on Admission of circa £500m. Expected Admission date is 28 July.
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