* 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:***
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 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.
Market Movers:***
1st April: Oscillate (AQSE: SRVL), the company focused on building an independent copper and future metals developer, announced that further to the announcement on 9 February 2026 of the conditional acquisition of Kalahari Copper, it has conditionally completed an equity fundraising of £2.9m and plans to move to AIM from AQSE. Net proceeds of the Fundraising will allow for the advancement of the Company's proposed exploration assets in Namibia and Botswana. In addition, the company will change its name to Serval Resources and Admission to AIM is expected to occur on or around 8.00 am on 27 April 2026.
Banquet Buffet****
Arrow Exploration 21.5op £60.70m (AXL.L)
The operator with a portfolio of assets across key Colombian hydrocarbon basins, updates on operational activity. Drilling at the Mateguafa Attic field on the Tapir Block in the Llanos Basin of Colombia has reached target depth of 11,455 ft on time and under budget and Arrow holds 50%. The well was put on production at a heavily restricted rate, 32/128 choke and 33 Hz pump frequency and the testing results indicate that the well is capable of higher rates, and the ultimate flow rate will be determined in the first few weeks of production. On March 1, 2026, the Company's cash balance was $6.4m and there is no debt. Arrow plans to move the rig to the newly finished Icaco prospect which has been developed using both 2D seismic and the more recently a 3D seismic program. The management believes the Icaco prospect will also result in a material discovery.
Billington Holdings 360p £44.30m (BILN.L)
The structural steel and construction safety solutions specialists reports on recently awarded new contracts with an expected combined value of around £50m. The contract wins span a variety of sectors, and the projects include the National Railway and the Group’s largest bridge order to date both for delivery in 2026. There is also a London data centre development for an existing client, for completion in 2027. There are significant further opportunities, particularly in the energy-from-waste and the wider low-carbon power sector. The CEO is encouraged by the improving volume of work although margin pressure remains. The FY to December 2025 is to be reported on 21 April 2026 and expected to be in line with market expectations.
Blue Star Capital 9.25p £4.40m (BLU.L)
The investing company with a focus on blockchain and payments updates on an investee company SatoshiPay’s trading on its fiat-to-crypto infrastructure platform. In January, a record monthly transaction volume of $10m was achieved and compares with the $4.8m recorded in December 2025. This is a significant milestone as January's volume exceeded the platform's total cumulative transaction volumes since launch. Since then, however volumes have significantly reduced due to several factors. The platform was closed to complete necessary platform infrastructure upgrades, along with ongoing internal compliance reviews associated with onboarding and scaling institutional counterparties. In addition, a major institutional client of the platform is in the process of changing its banking partner, which also resulted in a significant reduction in transaction volume. SatoshiPay is confident it will see transaction volumes return to higher levels.
CML Microsystems 200p £33.20m (CML.L)
The developer of mixed-signal, RF and microwave semiconductors for global communications markets, updates on trading for FY March 2026. As anticipated, there was revenue growth in H2 and a return to pre-exceptional operating profitability driven by the improving order intake. H2 revenue grew by 18% compared to H1 and is also ahead of the comparable period. The revenue mix has, however reduced operating margin due to a greater share of lower margin non recurring engineering (NRE) income. This is expected to result in an H2 operating loss, albeit at an improved level compared to the H1 loss of £0.98m. There is however an improved statutory PBT of £1.8m compared to a loss of £0.7m. The FY net cash is c.£11m which includes a £3m balancing payment relating to the Oval Park land disposal. Recent internal initiatives around R&D optimisation and target market verticals have been completed, laying the ground for further improvements in both productivity and commercial efficiency.
Insig AI 14.25p £17.81m (INSG.L)
The provider of AI-led data infrastructure and machine learning solutions updates on trading for the FY March 2026 and potential NASDAQ listing. Revenues increased 56% to £0.8m, despite continued delays in the standardisation of sustainability reporting requirements. Several client wins are expected to generate recurring revenue. Large language models are beginning to displace traditional software creating significant pressure for established vendors and Insig AI is positioned to benefit. The Company can deliver a secure environment and at a far lower cost than plug ins which reduces the client’s business risk while increasing profitability. Accordingly, the Board is forecasting an acceleration of sales growth for FY27, with revenue expecting to more than double and the Company is expecting to achieve operating profitability. The Board is considering a potential dual listing on NASDAQ to fully capitalise on digital asset investment opportunities. The CEO has expressed an interest in making a significant equity investment at a very substantial premium to the current share price.
Mila Resources 1.025p £6.8m (MILA.L)
The post-discovery gold exploration accelerator reports the final assay results from its Diamond Drilling programme in Q4 2025. The results are from the Yarrol Gold Project in Queensland and include targeted follow-up sampling and multi-element assays. These have materially enhanced the Company's understanding of the mineralised system. The multiple drillholes intersected broad mineralised zones with internal high-grade shoots. This work is a progression from initial discovery towards a defined and coherent gold system, with continuity, geometry and vectors to higher-grade mineralisation. The Q1 2026 campaign is now complete, and the results are continuing to indicate the expansion of the systems footprint.
OptiBiotix Health 5.25p £5.06m (OPTI.L)
The life sciences business developing products which reduce hunger and food cravings, enhance the gut microbiome, and sweet fibres as healthy sugar substitutes updates on trading for FY December 2025. Revenue is expected to increase 30% to £1.13m and sales orders have increased 33% to £1.34m. The gross profit margin improved to 53% from 38% to a gross profit of £608k although operating costs are unchanged at £2.6m. There is cash of £1.03m and shareholdings in ProBiotix Health Plc and SkinBioTherapeutics Plc which had an aggregate market value of £6.45m at the end of December 2025. There is a record start to 2026 reported with over £800k of orders received in January and a significant reduction in marketing and selling costs with a growing promise in second generation products. The Company is confident of achieving commercial sustainability.
One Media iP 3.2op £7.12m (OMIP.L)
The digital music rights acquirer, publisher and distributor, reports finals to October 2025. Revenues decreased 3% to £4.8m but due to cost management the PBT improved to £0.9m from £0.8m. The YE cash was £0.8m compared to £0.4m with debt decreasing to £0.7m from £1.1m. The exclusive mid-term licence to distribute podcast collections was acquired for the biggest names in rock history, including The Beatles, The Rolling Stones, Led Zeppelin, Pink Floyd, Fleetwood Mac, Bruce Springsteen and others. The global music industry growth continues to support the Company's model, driven by digital distribution, the expansion of streaming and rising demand for music usage. Following the strategic sale of TCAT, the focus is on cost optimisation, this is set deliver improved profitability while the Company also seeks strategic development opportunities.
Quantum Helium 0.038p £12.66m (QHE.L)
The helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia has received notification that operatorship of the Sagebrush Project in Colorado has been approved by the Bureau of Indian Affairs. This key milestone follows an extensive and proactive engagement process and now with the notification, Quantum is moving into the next operational phase at Sagebrush. This will be the mobilisation for the extended production test at the Sagebrush-1 well which is expected to commence shortly after Easter. The tests at Sagebrush-1 should run over a number of weeks and is a key near-term operational milestone. There is a strong market backdrop with an increasing global focus on helium supply security which is timely for the Sagebrush project as it enters this important and potentially value adding phase of operations.
Topps Tiles 33.3p £67.9m (TPT.L)
The tile specialist updates on trading update for the 26-weeks to March 2026. H1 revenue is 0.1% lower at £142.7m and the business continues to outperform the wider market, which declined by approximately -2.5% over the equivalent half year period. Topps continues to outperform in this softer market subdued by consumer sentiment and geopolitical uncertainty. The online brands have continued to perform strongly, with Pro Tiler delivering revenue growth of over 21% year on year. Fired Earth has traded well since acquisition, already delivering a positive profit with further growth expected in H2. A targeted programme of self-help measures are being implemented and are H2 weighted. These actions are designed to support profit growth and provide a stronger financial platform for 2027 and beyond.
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