Admissions:
None
Delistings:
Quiz Plc (QUIZ.L) left AIM.
Alpha Real Trust Limited (ARTL.L) left the Main Market.
Potential** Initial Public Offerings:
Cardiogeni PLC has announced its intention to IPO on the AQSE Growth Market. The Group’s platform technology is developing a new class of life-saving cellular medicines that enables the creation of unique (living) cells that are engineered with a therapeutic function. The Group’s lead product, CLXR-001, is a patented engineered cellular medicine to treat heart failure patients which is administered during coronary artery bypass grafting surgery. The Group’s novel technology was developed in-house by Professor Sir Martin Evans and is protected by a portfolio of circa 100 international patents and trademarks. Expected Admission is 31st January; market capitalisation and amount raised remains TBC.
RC Fornax, the UK-based engineering consultancy for critical military platforms, announced its intention to IPO onto the AIM market. The Company was founded in 2020 by Paul Reeves and Daniel Clark, two Royal Air Force veterans with a combined service of over 24 years. The Company generated revenue of £6.5m in 2024, resulting in £0.9m EBITDA. The Company is seeking to raise approximately £5m through a placing. Valuation TBC. RC Fornax's Ordinary Shares are expected to admit to trading on AIM in early February 2025
Airea 22.5p £7.7m (AIEA.L)
The UK design-led specialist flooring company, supplying both the UK and international markets, today announced a trading update for the twelve months ended 31 December 2024. The Group experienced growth in the second half of the year with sales 6.0% above the prior year, resulting in the Period being 0.6% ahead year on year at £21.23m. The UK and ROI delivered 4.5% sales growth in the second half, finishing the Period 2.4% above the prior year, compared to a deficit of 0.3% at the half year. Sales in international markets grew by 11.8% in the second half, finishing the Period 5.7% below the prior year, an increase on the shortfall of 21.9% at the half year. There was demand for the Group's carbon-neutral and low-carbon product ranges in the Period. During the second half, there were several product launches released to the market. Innovation and investment in sustainability are being accelerated across the Group to meet the growing needs of customers.
Genincode 6.75p £5.7m (GENI.L)
The genetics company focused on the prevention of cardiovascular disease, announced the inclusion of CARDIO inCode (for the polygenic risk assessment of coronary heart disease) in the US 2025 Clinical Lab Fee Schedule to enable reimbursement from Medicare and Medicaid across the US. The company also announced the implementation of CARDIO inCode for the prevention of coronary heart disease in the Spanish region of Catalonia. The CARDIO inCode-Score test is being clinically adopted across US healthcare institutions and has now been included in the Centers for Medicare and Medicaid Services Clinical Lab Fee Schedule from 2025. The CARDIO inCode test price varies on a state by state basis ranging from $450-$570 with a median price of ~$500/test.
Iofina 21.25p £42.2m (IOF.L)
The specialists in the exploration and production of iodine and manufacturers of specialty chemical products, today provided a brief update regarding its activities during Q4 2024 and an outlook for 2025. In Q4 2024, Iofina Resources produced 194.1 metric tonnes (MT) of crystalline iodine from its seven IOsorb plants in western Oklahoma, which was a Q4 record. Iofina's seventh operating plant, IO10, has achieved full iodine production from September 2024. Total production for the year was a record high for the Company, up 13.4% to 634.1MT compared to 2023 production of 559.3MT. The Company has benefitted from a strong spot raw iodine price in excess of H1 2024 levels and is currently above $70/kg.
LPA Group 56.5p £7.9m (LPA.L)
The engineering specialist in electronic and electro-mechanical components and systems, announced its final results for the year ended 30 September 2024. The Order book reduced to £25.3m from £31.6m in 2023, while revenues increased to £23.5m from £21.7m in 2023. The companyacquired Red Box International, which includes a range of ground power equipment, giving access to new markets including general aviation and B2C sales. The company also began implementing its new ERP system into both manufacturing sites. The company refocussed for global market expansion with the first international office set up for the DACH market and reassessing the distributor partner network for new and existing products around the world, while also bringing in a new CEO starting 2 January 2025. The company also recorded an underlying operating loss of £0.2m from £0.1m in 2023, with no proposed dividend for the year. Net debt at year end was £2.1m.
Mindflair 1.25p £5.5m (MFAI.L)
The company investing in next-generation technology focused on AI, notes the announcement made by Sure Valley Ventures for a new investment by Sure Valley Ventures UK Software Technology Fund, in which it has an investment. Sure Valley Ventures has led a £1.5 million funding round for Vizgard, an AI company specialising in distributed AI solutions for defence and public safety applications. The funding is hoped to enhance camera-based systems' capabilities through its proprietary FortifAI software platform. The funding round also included participation from Midwich Ignite and Focal. Vizgard's customers include Sesanti, a British camera manufacturer and multiple national-remit police departments. The company is also part of a £12m Innovate UK consortium.
Pri0r1ty Intelligence Group 6.25p £6.0m (PR1.L)
The AI company focused on professional growth services for SMEs announced a partnership with Funding Circle, one of the UK's providers of small business loans and finance. This collaboration is expected to increase the company’s offering and footprint within the small to medium-sized enterprise technology landscape by enabling Pri0r1ty's customers to access alternative debt financing options seamlessly via the Pri0r1ty platform. This strategic move allows Pri0r1ty customers to access loans of up to £750k (subject to Funding Circle's lending criteria) within minutes and with approved funds being settled typically within less than 48 hours. Pri0r1ty will be paid an introducer commission of up to 6.5% on all loans made to customers.
Revolution Beauty 11.26p £35.9m (REVB.L)
Revolution Beauty Group, the multi-channel mass beauty brand, has today provided an update on trading for the year ending 28 February 2025. The company has recently discontinued over 6,000 unproductive SKUs - some 75% of its original portfolio. Certain retailer launches that were expected in Q4 25 will now take place in H1 26. Launches into Walmart in the US and DM in Germany remain on track for February 2025. The Company also experienced some sales softness in December 2024 in its digital channels and an element of de-stocking from USA retailers. As a result, the Company now expects net sales for FY25 to decline c.25% and high single digit millions underlying adjusted EBITDA supported by the continued delivery of the operational and cost savings programmes. Cash balances were £6m at the end of December 2024 and net debt was £26m including a fully drawn RCF of £32m.
Smarttech247 10.25p £11.1m (S247.L)
The provider of AI-enhanced cybersecurity services providing automated managed detection and response for a portfolio of international clients, announces finals to July 2024. The results are reported to reflect steady progress in strategic priorities and operational capabilities. Revenue increased by 8.2% to EUR13.2 m with an adjusted Operating profit 63% lower at EUR0.78m. Several new multi-year contracts have been won and growth (50%) in ARR on a run rate basis increasing to EUR9.1m. Net cash was comparatively lower at EUR3.34m down from EUR6.01m.
Team17 274p £345.6m (TM17.L)
The independent games developer and publisher of video games, working simulation games and children's edutainment apps, today provides a trading update for the twelve months ended 31 December 2024 alongside announcing the rebrand of the Company to everplay group plc. The Group expects to deliver FY 2024 revenues and adjusted EBITDA slightly ahead of market expectations. The Group expects to report its results for the year in March 2025 where they will provide further insight into the Group's operational and financial performance, schedule of new releases and future strategic plans.
Zotefoams 316p £143.4m (ZTF.L)
The supercritical foam company today released a trading update for the Group's financial year ended 31 December 2024. The group recorded full year revenue of £147.8m (2023: £127.0m), slightly ahead of current market expectations and represents an increase (+16%) compared with the prior year. Adjusted profit before tax for the year is expected to be £15.6m compared to £13.1m in 2023, up 19%. In December, the Group announced its intention to cease investment in ReZorce, having been unable to secure an investing partner to realise the commercial potential of the technology. Zotefoams is currently investing approximately £10m in a second low-pressure vessel and related additional warehouse space at its US subsidiary, to increase capacity and reduce reliance on the current vessel which was installed in 2000. The process is on track and to budget, with expected commissioning in H2 202
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