* 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:***
3 June: Reveille Resources has announced its intention to IPO onto AQSE. The strategy is focused on identifying and advancing uranium exploration opportunities in assets that have benefited from significant historical expenditure and technical work, but which may not have achieved full value realisation due to geopolitical, technological, financial, or historical factors. Reveille’s initial focus is on two historical uranium deposits in Lombardy, northern Italy. Pre-admission, Andrea Cattaneo, Ippolito Cattaneo, Ajax Resources PLC, and Zenith Energy Ltd. each hold 25% of the shares. The four pre-admission shareholders will be subject to a one-year lock-in and a subsequent one-year orderly market agreement. Expected Admission date 25th June.
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 June 2026.
Banquet Buffet****
London Stock Exchange: Main Market and AIM
Agronomics Limited 6.0p £65.0m (ANIC.L)
The Company focused on clean food announced portfolio company Tropic Biosciences UK LTD has made a $20m acquisition. It has acquired Rahan Meristem which is one of the world's leading banana propagation businesses. Rahan has operated for more than 50 years and has an established presence in Colombia, Costa Rica, Ecuador, the Philippines and Israel. The business has capacity to propagate more than 30 million plants per year and is recognised for its Cavendish banana seedlings as well as other crops including pineapple and avocado. The transaction is expected to provide Tropic with a direct route to growers and to accelerate product development with commercial launches through access to Rahan's production infrastructure and customer base. The acquisition follows a milestone year in which Tropic raised $105m. Agronomics' position in Tropic is currently carried at approximately £2.2m, representing approximately 1.6 % of Agronomics' most recently reported Net Asset Value of £139m as at 31 March 2026.
Aptamer Group 0.55p £18.14m (APTA.L)
The developer of next-generation synthetic binders for the life sciences industry updates on the delivery of strategic initiatives across its platform technology and therapeutic development programmes, following the April 2026 fundraise. Simultaneous progress is being made across its AI platform demonstrating strong operational momentum across multiple pillars of the business. The Group is targeting the use of AI to accelerate and enhance the discovery of Optimer binders against challenging targets, aiming to deliver faster, improved services, with insights into undruggable proteins. The AI programme has moved from initiation to generating real candidates with encouraging early performance data in a matter of weeks and making tangible advances across the therapeutic assets such as the identification of new kidney-targeting delivery vehicles ahead of first in vivo studies.
Arkle Resources 0.70p £10.37m (ARK.L)
The energy metals explorer focused on uranium reports on field work, including geological mapping and trench sampling, is progressing on schedule at its Erongo Uranium Project in Namibia, ahead of Arkle's imminent maiden drill programme. The planned activities include c. 2,500m additional drilling programme to commence on the upper limit grade target, subject to the results of the trenching and sampling work. In Q4, the planned activities are to survey lines with mapping and sampling across further paleochannel to develop the next generation of drill targets. The contractor is engaged and preparing to start drilling within days. This is the start of a sustained, fully funded drilling campaign of around 4,000 metres across both of principal uranium styles, with multiple further targets behind it.
Cleantech Lithium 5.85p £19.25m (CTL.L)
The exploration and development Company advancing sustainable lithium projects in Chile shares an update on the Special Lithium Operating Contract (CEOL) process and CFO position. The Company had expected ratification of the CEOL to take place in Q2 2026, however, the administrative process with the Comptroller General's Office is taking longer than anticipated as it works through all the CEOL decrees put forward by the previous Government. It was announced on 11 August 2025 that CFO and Director Gordon Stein would step down from the Board as a director, but remain as CFO. The Board engaged Mr Stein under a consulting agreement in February 2026 to lead the process to select a strategic partner to fund the next stage of project development and also to progress the dual listing on the ASX. Mr Stein's consulting agreement has now been extended from 30 June 2026 to the end of September 2026 when it will be reviewed again.
CRISM Therapeutics Corp 10.0p £8.12m (CRTX.L)
The clinical-stage drug delivery Company focused on the localised and sustained delivery of chemotherapy drugs updates on its Phase 2 clinical trial of irinotecan ChemoSeed in patients with glioblastoma. The Company confirms that all product manufacturing, quality, regulatory and study start-up activities required for patient treatment have been completed and that the site activation is at an advanced stage. A Site Initiation Visit is the final procedural step before the site can be activated for patient recruitment which is planned for late July. The Company is fully funded to complete Part 1 of the trial and is well positioned to initiate Part 2 on completion.
ImmuPharma 4.00p £24.77m (IMM.L)
The specialist drug discovery and development Company has appointed Bachem AG as manufacturing partner for the active pharmaceutical ingredient (API) for its Kapiglucagon program. Kapiglucagon is a proprietary glucagon prodrug being developed for Type 1 diabetes applications, with a focus on overcoming the inherent physicochemical limitations of native glucagon. Bachem is a leading global manufacturing partner, supporting pharmaceutical and biotechnology companies from early-stage development through to commercial supply. IMM’s CEO states this is an important step for the program and strengthens the foundation for Kapiglucagon further development toward the clinic.
Ingenta 68.5p £12.26m (ING.L)
The provider of software and services to the publishing and media industries updates on trading ahead of today’s AGM. There have been over £2m of new business wins since the start of the financial year across all major product lines and markets, with an encouraging pipeline of further opportunities across core markets. There is ongoing investment in new product development and AI enabling Ingenta to grow into diverse markets and geographies. The innovation focus is particularly through the integration of AI into products and services. There are further substantial prospects still in the pipeline, which are expected to close in the second half of the current year. As a result of this new business momentum, the Company is expecting to deliver increased revenues in 2026 compared with 2025. Some of the larger customers have, however, requested to move to shorter term contracts, which reduces the visibility over future revenue streams, and introduces a greater risk level to 2027 revenues.
Manolete Partners 35.0p £14.9m (MANO.L)
The insolvency claims financing Company reports finals for the FY to end 31 March 2026. There was a 6% reduction in revenue to £27.8m as some large case completions moved into FY27. The gross margins improved to 37% from 32% for the FY to end 31 March 2025 and the adjusted PBT increased to £2.8m from £1.8m for the FY to 2026, which is before a bad debts provision. Net debt increased from £11.1m in the prior year to £11.5m due to restructuring costs and the delayed payment from two large debtors. FY27 has started positively as the forward book increased significantly in value to £67m from £49m in the FY 2025, with a significant increase in higher value, higher margin cases. There is additional significant upside opportunity provided by the remaining Cartel cases which have a balance sheet value of £10m. The medium-term financial targets include growing realised revenues by 50% and improving Adjusted Realised PBT marginto 12%, while driving higher cash receipts and net cash flow to fund continued investment in new cases to support sustained growth.
Tertiary Minerals 0.05p £3.74m (TYM.L)
The mineral exploration and development Company whose strategic focus is on energy transition metals announced the commencement of drilling at its Target A1 silver oxide discovery, Mushima North Project in Zambia. The planned Reverse Circulation drill programme of approximately 4,000m is underway. The aim of the drilling is to enable the delineation of a JORC Mineral Resource Estimate for Target A1 where the Company has already reported a JORC Exploration Target of between 15m and 30m tonnes with a mean grade of 40-60 g/t silver equivalent. Sample batches will be submitted to the external laboratory on a regular basis with the first batch planned in the next week.
Zinc Media Group 57.00p £16.61m (ZIN.L)
The television, brand and audio production group, reports the cinema release of WHAM! 10 Days in China, a feature documentary. The 90-minute film, directed by Mike Christie, tells the story of WHAM's landmark 1985 concerts in Beijing and Guangzhou which is the first by a Western pop group in China. It will receive a worldwide theatrical release through Sony Music Vision and leading event-cinema distributor Trafalgar Releasing, followed by an exclusive UK broadcast on the BBC. The release illustrates the Group’s commercial model of producing premium, IP-rich content that can be monetised across multiple windows such as cinema, broadcast and internationally. Also by partnering with major music and distribution names the reach and commercial life are extended. Having produced the film, Zinc generates revenue from both its production and onward exploitation across these channels.
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