* 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:
Rift Helium (RIFT.L) has come onto AIM today at 10p per share, opening market cap £13.4m. Rift Helium is a helium exploration and development Company focused on the exploration of a discovery-ready, non-hydrocarbon associated helium bearing acreage at its early-stage Upepo Project, located in southwestern Tanzania, within the Rukwa Rift - forming part of the East Africa Rift System (the "Upepo Project"). The Upepo Project comprises three prospecting licences over 283 km2 in the Rukwa Basin, near to existing helium projects operated by Helium One Global Ltd (AIM: HE1) ("Helium One") and Noble Helium Limited (ASX: NHE) ("Noble Helium"). The Company has identified five discrete exploration leads, primarily on its eastern licence, PL 12093/2022. The Company aims to leverage its third-mover advantage in the Rukwa helium province and intends to benefit from the reduced geological risk in light of recent helium discoveries by Helium One and Noble Helium. The Company raised the £8.1m it intended.
Delistings:
None
What’s baking in the oven?
Potential IPOs:***
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. UzNIF is considering applying for Admission of its ordinary shares to trading on the Tashkent Stock Exchange and for Admission of its GDRs to the LSE Main Market. 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. Further information about the International Offering and the Tashkent Offering, will be provided before the start of book-building in further announcements.
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.
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.
Reverse Transactions:***
20th April: Ikigai Ventures Limited (LSE: IKIV), a special purpose acquisition Company focused on high-growth, scalable businesses, announced that final terms have been agreed for the proposed Acquisitions of the entire issued share capital of Dotlines (Guernsey) Ltd and Audra Solutions Ltd (together the Dotlines Group), companies that collaborate as a UK-based international technology group operating in the telecommunications, digital infrastructure, cybersecurity and financial technology sectors. Acquisition of the Dotlines Group with established, growing, revenue-generating operations is for a total consideration of £55.7m, to be satisfied by the issue of new Ordinary Shares in the Company on Admission. Based on the issue price of 9.5p per share, the market capitalisation of the Enlarged Group will be approximately £57.9m on Admission. The Company will move to AIM from the Main Market which will become effective on 11 May 2026.
Market Movers:***
15th April: Rosebank Industries (ROSE.L) will move from AIM to the equity shares (commercial companies) (ESCC) category of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange on 1 May 2026. The last day of trading on AIM is therefore expected to be 30 April. Rosebank does not intend to raise any funds or offer any new Ordinary Shares in connection with Admission. The Company anticipates inclusion in the next Quarterly Review of the FTSE 250 Index, although inclusion remains subject to review by FTSE Russell.
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.
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 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 with a market cap of £7.6m. 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. Admission to AIM is expected to occur on 27 April.
20th February: Wildcat Petroleum (WCAT.L) announced its plans to cancel its Main Market listing and move to the Aquis Growth Market. In parallel with the proposed cancellation, the Board intends to pursue opportunities in the gold sector, with a view to developing the Company as an African-based gold processing business. Timing TBC.
Banquet Buffet****
Aurrigo International 77.5p £69.3m (AURR.L)
The international provider of autonomy software, fully autonomous vehicles and mobile robotics platforms reports opening a new Hub. The UK facility at Power Park in Coventry marks a major milestone in the Company's growth and manufacturing capability. It will serve as its UK hub for advanced engineering, autonomous vehicle development, high-volume manufacturing and ongoing Automotive activities. The facility also complements the Company's recently announced international hub and licensing programme, which is designed to accelerate global commercialisation through local partnerships, funding and manufacturing support across Europe, the Middle East, Southeast Asia and the US. The UK Hub gives Aurrigo space for an on-site autonomous vehicle test track, supporting in-house validation, customer demonstrations, and accelerated development cycles. Once fully operational the facility is projected to be capable of manufacturing up to 500 autonomous vehicles per annum.
Cambridge Nutritional Sciences 1.85p £4.64m (CNSL.L)
The specialist medical diagnostics Company focused on promoting a personalised and functional approach to health and nutrition, updates on trading for the FY March 2026. Revenue is expected to decline 15.7% to £7.0m due to reduced and delayed orders from the Middle East & Asia. As a results of cost control, there is an increase in gross profit margins from 65.3% to 67.8%, which leaves the EBITDA loss unchanged at £0.4m. The net cash declined from £4.9m to £2.6m. There is heavy investment being put into capital equipment which is expected to deliver significant product, cost and market position advantages.
Creo Medical Group 13.0p £52.6m (CREO.L)
The medical device Company focused on the emerging field of minimally invasive surgical endoscopy for pre-cancer and cancer patients provides a Q1 trading update to March 2026. The Company's growth momentum has continued, with 60% revenue growth which is at the upper limit of management's expectations. This strong performance underpins management's expectation of 40% to 60% full year revenue growth during FY 2026. Management continues to focus on improving operational efficiency and underlying operating costs are expected to be reduced by 15% compared to FY25. Commercial progress continues to be made across the Company's product portfolio, which is supported by clinical validation. The full year results to 31 December 2025 are to be announced in May.
Fevara 126.50p £65.51m (FVA.L)
The international specialist in livestock supplements, reports Interim’s to 28 February 2026. Revenue was unchanged at £50.6m, although the PBT increased 18% to £7m from continuing operations. The Company has entered the strategically important Brazilian market by establishing a presence in the Southern Hemisphere and is exploring a number of opportunities to both expand operations and launch new products in this important market. Trading since the half year has been encouraging, with continued strong performance in the UK and further margin improvement. The global market fundamentals in the sector remain very strong, driven by high demand for animal protein. The net (unrestricted) cash position is £1.4m down from £15.7m, which is in line with expectations following the FY25 tender offer. The Interim dividend of 1.2p is maintained. The Board is targeting full-year revenue of £120m, EBITDA of £15m, EBIT margin of 10% and ROCE of 20%.
Hvivo 9.75p £63.33m (HVO.L)
The purpose-built, full-service international clinical development partner and the world leader in human challenge trials (HCT) is to conduct a new and significant trial. It is the world's first pivotal Phase III human challenge trial in Bordetella pertussis (the bacteria that causes whooping cough) for ILiAD Biotechnologies vaccine candidate, BPZE1. The Trial is expected to be hVIVO's largest value HCT to date and will make a strong contribution to near and midterm revenues. Whooping cough poses a significant risk, particularly for infants under six months of age, outbreaks are cyclical, but unpredictable and do not follow a seasonal pattern. The trial is expected to generate important pivotal data to form a core part of the global marketing authorisation applications for BPZE1 and to accelerate access to this urgently needed vaccine.
MTI Wireless Edge Ltd 68.0p £57.75m (MWE.L)
The technology Company focused on comprehensive communication and radio frequency solutions across multiple sectors reports new orders. Its antenna division has received two orders, totalling around $1.0m, to supply military antennas. One of the orders, totalling worth about $0.7m, is from an existing client, a European defence company, for delivery within five months and the other is from a local defence company for delivery within two years. April has been a strong month for new orders with a series of significant defence-related orders won, with a combined value of just above $9m.
Ondine Biomedical Inc 11.75p £59.75m (OBI.L)
The photodisinfection-based therapies Company reports that two of its abstracts have been accepted for poster presentation at the upcoming World Congress on Infectious Diseases, in Barcelona. The abstracts will highlight the long-term clinical and economic impact of Ondine's light-activated antimicrobial technology in surgical settings. The presentations will feature 8-year longitudinal data demonstrating the technology's improved outcomes compared to traditional antibiotic treatments. By avoiding the development of antimicrobial resistance associated with traditional treatments, the Company’s solution improves patient safety in highly complex surgical environments.
Ten Lifestyle Group 80.0p £71.3m (TENG.L)
The global customer experience and loyalty platform for financial institutions and other premium brands reports interims to 28 February 2026. Revenue increased 6% to £33.7m, with EBITDA £1m ahead at £7.0m, while the PBT improved £0.6m to £1.6m. Net cash improved to £9.3m from £6.8m. The Ten Digital Platform was launched with a leading UK bank under an existing Large contract and with a digitally enabled concierge contract with a leading global technology company. The initial roll out of Talia, Ten's AI-powered member assistant enabling end-to-end dining bookings over chat is underway. Trading in the current year is inline with expectations and the conflict in the Middle East has had limited impact. The Group remains focused on profitable, cash-generative growth, while continuing to execute against its digital roadmap.
Transense Technologies 60.50p £9.21m (TRT.L)
The innovator in sensor technology and measurement systems has taken delivery of a bespoke, high-precision die bonding machine to support the commercial scale-up of its SAWsense division. The £0.4m investment in this new machine marks a key step towards developing high-volume production. Transense's patented Surface Acoustic Wave (SAW) technology is used to measure torque, force and temperature in safety and performance-critical applications, particularly in demanding environments. The new equipment enables micron-level precision placement of SAW sensing elements onto shafts and other components, delivering consistent, repeatable installations suitable for high-volume production. The new equipment is a crucial step toward scalable revenue, reduced adoption barriers, and the possibility of meaningful volume contracts across multiple high-value sectors.
TPXimpact Holdings 45.0p £35.2m (TPX.L)
The technology-enabled services company focused on people-powered digital transformation updates on trading for the FY to 31 March 2026. Revenue increased 1% c.£78.1m and finishing ahead of market consensus of £76.2m. Gross Margin improvement to 31.7% from 28.6% is driven by project mix and operational efficiencies. The EBITDA is expected to increase by 54% to c.£8.6m leading to a significant reduction in net debt to c.£4.2m against £8.5m, reflecting strong cash generation. The FY Results for FY26 and the initial outlook for FY27 are to be reported on 16th June 2026.
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