* Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication.
** Arranged by type of listing and date of announcement.
*** Potential means Intention to Float (ITF) or similar announcement has been made.
**** A corporate client of Hybridan LLP.
Dish of the Day
Admissions:
1947 Oil & Gas (1947.L) has been admitted to trading on AIM today. The Company has raised £50m at 10 pence per share, representing an aggregate value of £50.0m with a market capitalisation of approximately £65.1m. The Company’s first asset is Renaissance Offshore, LLC, a privately held, Houston-based oil and gas production company with interests in eleven fields located in the shallow-water Gulf of America. The net proceeds of the Placing and remaining Pre-IPO Fundraising will be applied principally towards funding the cash consideration for the Acquisition, with the balance allocated to working capital and Admission costs.
Delistings:
None
Banquet Buffet*
London Stock Exchange: Main Market and AIM
Block Energy 0.80p £14.33m (BLOE.L)
The oil and gas Company with assets in Georgia and interests in offshore Gabon announced its unaudited consolidated interim results for the six months ended 30 June: Block recorded 148,911 operational man-hours with zero lost-time incidents. During the period, Block completed the Aspect XIQ farm-out, signed a binding Framework Agreement with Sanning for Project III and established a new growth platform offshore Gabon. The XIQ farm-out provides a staged work programme with estimated gross expenditure of approximately US$95m, targeting 301.7 MMboe of gross mean unrisked recoverable prospective resources. Project III contains 2.77 Tcf of gross 2C contingent gas resources, with up to US$75m of total carry. Block established a 76.5% indirect economic interest in the Ndjila and Mpari PSCs. First-half production was 374 boepd, revenue was $2.887m and adjusted EBITDA was US$56,000.
Built Cybernetics 1.65p £6.58m (BUC.L)
The smart buildings Company announced the proposed acquisition of Ecolibrium, Inc, a technology business providing AI-led energy and operational optimisation systems to large commercial and industrial customers. The consideration for the acquisition is being satisfied entirely by the issue of new ordinary shares in the Company. An associated fundraise will provide capital to accelerate growth, as enlarged by the Acquisition and a Capital Access Window (CAW) commenced at 7.30 a.m. today while the Fundraising is conducted. The Company expects to announce the outcome of the Fundraising, the principal terms of the Transaction and the proposed timing for restoration of trading following closure of the CAW.
The Character Group 321.00p £55.53m (CCT.L)
The Company engaged in the design, development, manufacture, and international distribution of toys, games, and giftware provided a trading update ahead of the publication of the Company's audited annual results for year ended 31 August 2026 (FY26). Sales in the months of July and August were reported to be encouraging with a strong finish to FY26. Whilst international sales (especially in the US) were lower, the UK and Scandinavian divisions' sales trended higher. Having reversed the drop in sales reported in the first half of FY26, sales for the full year are expected to be broadly similar to that of the prior year ended 31 August 2025. The improved gross profit margin reported in H126 has been maintained in the second half of the year. As a result, the Board now expects the Group's profit before tax and highlighted items for FY26 to exceed current market expectations by approximately 20%. Despite the current economic challenges, overall trading remains positive in the lead up to the Christmas 2026 season.
Christie Group 185.00p £49.07m (CTG.L)
The provider of Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS) to the healthcare, hospitality, leisure, medical, childcare & education and retail sectors, announced its Interim Results for the six months ended 30 June. Revenues increased 5.4% to £36.0m, with growth across all five trading brands, both in the UK and International operations. Operating profit increased 11.1% to £2.4m, with operating profit margin improving to 6.6%. Cash and cash equivalents increased to £8.7m. The Board declared an interim dividend of 1.25p, an increase of 67%. During the Period, 607 businesses were sold, up 11.2%, with 5% growth in transactional brokerage income, 4% growth in Valuation and Business Appraisal revenues, 15% growth in finance brokerage income and 31% growth in insurance brokerage income. The Board anticipates delivery of a full year performance in line with current market expectations.
Emmerson 1.40p £20.05m (EML.L)
The Moroccan-focused potash development Company announced its 2025 audited results. The Company strengthened its financial position while progressing its $1.215bn arbitration claim against Morocco. The Company raised $1.0m through a £750,000 placing and subscription and a £100,000 WRAP Retail Offer. On 27 March, the Company submitted its Memorial in relation to the arbitration process, outlining its case in full, including legal arguments and supporting evidence, with a claim for damages amounting to US$1.215bn net of local taxes and including interest. In July, the Tribunal rejected Morocco’s application to bifurcate the jurisdictional element of the case, meaning jurisdictional objections will be addressed at the same time as the merits. Morocco’s Counter-Memorial is due in January 2027, Emmerson’s Reply in October 2027 and Morocco’s Rejoinder in January 2028. The hearing will take place from 17-26 July 2028.
EnergyPathways 7.40p £18.63m (EPP.L)
The UK energy transition Company announced that it intends to undertake a fundraise. The funds will be used to progress activities for its MESH project, set to be the UK's largest Long Duration Energy Storage (LDES) project, which include licence work commitments, activities for its LDES Ofgem cap and floor submission, and planning and permitting activities. To support the Proposed Fundraise, the Company will enter a Capital Access Window (CAW) with effect from 7.30am BST today. The Company intends to undertake an offer to retail investors on the same terms as the Proposed Fundraise. The CAW will remain in place until a further announcement is made detailing the results of the Proposed Fundraise.
Firering Strategic Minerals 0.83p £5.74m (FRG.L)
The Africa-focused industrial minerals Company announced its Interim Results for the six months ended 30 June. Firering continued its transition towards becoming a revenue-generating industrial minerals business, increasing its interest in Limeco to 45%. During the period, Limeco commissioned Kiln 2, while Kiln 3 has since been brought into production and Kiln 4 renovation is progressing, with commissioning planned for Q4 2026. Limeco installed its first pulveriser at the hydrated lime circuit, with a second, larger unit expected before year end. Mining activities, including drilling and blasting, commenced in August. Firering made the final payment under its Limeco option arrangement in July 2026, with no further payments due under the original acquisition terms. Post period end, Firering entered into a binding agreement with Australasian Metals, granting it a 90-day option to acquire the majority of Firering’s interests in the Atex and Alliance Lithium-Tantalum Projects in Cote d’Ivoire.
Halo Minerals 9.00p £9.97m (HALO.L)
The copper development Company focused on the recovery of critical minerals from legacy mining waste announced completion of the BIOS Mining & Infrastructure Class 3 engineering and cost update for the Playa Verde copper and gold tailings reprocessing project in Chile. The BIOS MI update establishes a current technical and cost basis for Playa Verde using 2026 market conditions and represents a significant milestone towards Final Investment Decision, project financing and construction. The Class 3 capital cost estimate is approximately US$92.8m, excluding VAT, with estimated operating costs of approximately US$2.20/lb recovered copper. The development case is based on approximately 5.0 Mtpa throughput over an initial seven-year operating life, producing approximately 8,640 tonnes of recovered copper and 1,400 ounces of gold per annum. Completion of the BIOS MI update enables the Company to transition focus towards financing execution, commercial contracting and FID readiness.
Panther Metals 150.00p £16.18m (PALM.L)*
The exploration Company focused on mineral projects in Canada announced its Half Yearly Financial Report for the six months ended 30 June. The Company continues to build momentum across its Ontario portfolio, with three distinct opportunities progressing. Obonga delivered encouraging Phase 1 drilling, intersecting multiple massive and semi-massive sulphide zones at Wishbone and advancing the nickel-copper-PGE Awkward Conduit target. Further drilling is planned for 2027. Winston Tailings is moving towards a maiden Mineral Resource Estimate following 109 vibracore samples, with metallurgical testing underway and a non-binding LOI signed with Traxys. At Dotted Lake, studies confirmed the suitability of its magnesium-rich ultramafics as feedstock, with potential chromium, nickel and cobalt by-products. The Company strengthened its balance sheet with £3.69m raised during the period and a further £330,000 from warrant conversions post-period end, providing funding to advance its Ontario-focused strategy.
TomCo Energy 0.03p £1.6m (TOM.L)
The US operating oil development Company focused on using innovative technology to unlock unconventional hydrocarbon resources announced that the Company has raised in aggregate £700,000 before expenses by way of a £600,000 placing and a £100,000 subscription at a price of 0.025 pence per share. The Fundraise price represents a discount of approximately 35.90 per cent. to the last mid-market closing price. The Fundraise has been undertaken to provide additional working capital for TomCo as it seeks to continue to progress its previously outlined strategic objectives.
What’s baking in the oven? **
Potential IPOs:***
23rd September: Chaleit Holdings, a cyber security consultancy founded in 2021, announced its intention to list on the AIM Market. Chaleit plans to raise approximately £1.6m through a placing of new and existing ordinary shares and a direct subscription, with an anticipated market capitalisation of approximately £11.2m on Admission. The Cambridge-based company provides penetration testing and offensive security consultancy services, examining technology from an attacker’s perspective to identify vulnerabilities. Its services also include AI and language model security, cloud security, development security operations engineering, and cyber advisory and compliance work. The Company expects trading to commence on October 7, under the epic code CHA.
23rd September: Airtel Money, a scaled digital financial services platform operating across 13 African markets, has announced its intention to undertake an IPO on to the Main Market of the London Stock Exchange. As of 30 June, Airtel served approximately 53m monthly active users with a suite of mobile financial services such as micro-loans, savings accounts, insurance, wealth products. It was founded in 2011. Its growth to date has been helped by its relationship with Airtel Africa plc, its founding shareholder. Revenue reached US$1.346bn for the year ended 31 March 2026, with an EBITDA margin of approximately 50%. The Group has no external borrowings and capital expenditure represented just 3% of revenue in the year ended 31 March 2026. The IPO Offer consists solely of shares sold by existing shareholders; no new capital is being raised. The Offer will be made to qualified institutional buyers in the US and to certain institutional investors outside of the US. The Offer will also be made to retail investors in the UK through Retail Book Limited. In connection with the Offer, each of the Company, its directors and its existing shareholders are expected to agree to customary lock-up arrangements. The Prospectus is expected to be published in early October 2026 and the IPO complete mid-October 2026 with a free float of at least 10%.
Dual Listings:***
18th August: Aimia Inc. (TSX: AIM; JSE: AII) the Canadian diversified conglomerate announced plans to dual list on AIM. It owns a selection of businesses which include: (i) an 100% interest in Cortland International Inc., a global designer, manufacturer and supplier of synthetic fiber ropes, nets, slings and tethers; a 10.85% indirect stake in Clear Media Limited, the largest operator of bus shelter advertising panels in China; and iii) the Company holds a portfolio of publicly listed securities amounting C$12m as of 30 June 2026. No capital is expected to be raised on Admission and deal details remain TBC. Expected first day of dealings updated date of 29 September.
Market Movers:***
25 September: Roundhouse AI (AQSE: ETHL) The AI technology Company announcedits intention to move to AIM from AQSE. £1.5m is expected to be raised on Admission with an anticipated market capitalisation of approximately c. £14m at the Placing Price. Expected Admission date is 13th October.
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