* 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:
Last Friday, Amedeo Air Four Plus (AA4.L) left the Main Market.
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 30th 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
Acuity RM Group 0.73p £1.77m (ACRM.L)
The software group focused on cybersecurity risk management announced its final audited results for the year ended 31 December 2025. Revenue was £2.1m (2024: £2.1m), of which 86% was from subscriptions and 14% from consultancy services. £1.9m of contracted future revenue at the year end had risen to £2.1m at the end of Q1 2026 providing near-term revenue visibility. The recently announced placing, directors’ subscription and retail offer provided £453,000 of additional funding for product development, sales & marketing investment, and working capital.
Arcontech Group 83.50p £10.36m (ARC.L)
The provider of software products and services for the management of real-time financial market-data reports a new contract following a successful bidding process. Arcontech has signed a 3-year contract with a total value of around £800k with a major European bank for deployment of its software in various areas within its trading infrastructure. As a vendor agnostic market data platform, Arcontech CityVision is a real-time cost-effective alternative to existing platforms and is a market data platform that enables multiple data sources to be consumed by various applications written in different programming languages. The Board stated that the full year ended 30 June 2026 for both revenue and profit are in line with market expectations.
Fiinu 5.13p £23.51m (BANK.L)
The fintech group behind the Plugin Overdraft platform announced its audited final results for the year ended 31 December 2025 and a Board change. Group cash balances increased to £3.94m at 31 December 2025 (2024: £0.36m) and first revenues were generated by the Group following the acquisition of Everfex. There was a non-cash goodwill impairment charge of £7.3m recognised in relation to the Everfex acquisition following the annual review of carrying values. The impairment has no impact on the Group's cash position, liquidity, or ongoing operations and no account has been taken of the potential recovery or damages that may ultimately be realised through ongoing legal proceedings. The Company also announces that Sami Kalliola has resigned from his position as Chief Strategy Officer and Director with effect from 26 June.
Fulcrum Metals 8.38p £12.48m (FMET.L)
The Company pioneering the use of innovative cyanide-free technologies developed by Extrakt Process Solutions to recover precious and critical metals from mine waste and support site regeneration announced that it has entered into a non-binding US$20m royalty financing term sheet and signed a £200,000 equity subscription with Chancery Royalty Ltd in relation to the Company's Teck-Hughes tailings project in Kirkland Lake, Ontario. The proposed 5% Net Smelter Return (NSR) over Teck-Hughes gold production provides a potential non-dilutive route to production funding and Fulcrum would retain the right to repurchase 2% of the royalty for US$10m. The proposed royalty financing has been structured as a potential source of non-dilutive project development capital to support advancing Fulcrum's wholly owned Teck-Hughes Project towards commercial production.
genedrive 1.30p £20.87m (GDR.L)
The point-of-care pharmacogenetic testing Company announced a collaboration agreement with Thermo Fisher Scientific Inc. enabling genedrive to develop a CYP2C19 pharmacogenetic in vitro diagnostic (IVD) test for deployment on Thermo Fisher Scientific's QuantStudio 5 Dx real-time PCR laboratory platform (the Genedrive CYP2C19 HT Kit). The Genedrive CYP2C19 HT Kit is designed for centralised, high-throughput laboratory testing, addressing a different market segment to the Company's rapid Genedrive CYP2C19 ID Kit, which targets near-patient settings. Together, the two products position genedrive to serve both decentralised and laboratory-based CYP2C19 pharmacogenetic testing pathways. The Genedrive CYP2C19 HT Kit is on track for UKCA certification around the end of the 2026 calendar year, initially targeting the UK NHS genomic laboratory market.
Nativo Resources 0.23p £2.61m (NTVO.L)*
The precious metals Company with gold mining and processing interests in Peru announced an update ahead of today's AGM on the continued advancement of its wholly owned Tesoro Gold Concession in southern Peru and progress towards construction of the La Patona Gold Ore Processing Plant (GOPP). Nativo has completed an initial phase of underground development at the Tesoro Concession, extracting approximately 46 tonnes of mineralised material for future processing at the La Patona GOPP. Geological work, including 186 channel samples, confirmed the Company's structural model and identified multiple high-grade gold shoots, while also highlighting the discontinuous nature of mineralisation. As a result, mining activities will shift towards higher-priority targets within the Tesoro and Tesoro 1 vein systems, where management believes stronger grades and better continuity can deliver greater economic returns. La Patona is construction-ready and advanced funding discussions, and an offtake proposal, are progressing. Designed as a regional processing hub, the plant is expected to commence construction and target first gold production in Q4 2026.
Safestay 13.50p £8.77m (SSTY.L)
The owner and operator of an international brand of contemporary hostels announced its audited final results for the year ended 31 December 2025. Group revenue of £20.6m (2024: £23.0m including discontinued operations) and Adjusted EBITDA of £3.7m (2024: £6.5m), reflecting challenging trading conditions across several of the Group's European markets. Available cash balances at 31 December 2025 of £2.7m (2024: £1.4m). Looking ahead, the Board remains positive about Safestay's long-term prospects as an established international operator in the significant and fragmented European hostel market.
Solid State 205.00p £109.21m (SOLI.L)
The specialist value added component supplier and design-in manufacturer of computing, power, and communications report results for the FY to 31 March 2026. Revenue increased 23.2% to £154.1m with a 72% increase in PBT to £8.6m and an adjusted EPS growing from 0.9p in FY 2024 to 7.1p. Net debt was reduced to £4.2m from £7.4m in the prior year and the dividend increased 10% to 2.75p. The performance is underpinned by strong demand from the defence and security sector, accounting for circa 47% of group revenue. All three divisions delivered year-on-year improvements, supported notably by AI-driven demand and the defence and security market. The open orderbook of £102.4m is significantly stronger, including the non-NATO orderbook, providing good revenue visibility. Geopolitical uncertainty combined with AI data centre demand has created supply chain challenges, bringing both risks and opportunities. The Board expects to exceed current market expectations for FY26/27: FY 2026 revenue of £151.6m and a PBT of £7.9m and FY 2027: £152.5m revenue and a PBT of £8.1m.
AQSE market:
Lift Global Ventures 0.575p £0.614m (AQSE:LFT)
The investment and acquisition Company focused on foundational AI announced that it has completed a strategic investment in FourJaw Manufacturing Analytics Ltd, a UK scale-up applying cutting edge technologies, AI and machine learning to one of manufacturing's biggest challenges: unlocking productivity from the factory floor. The acquisition was for 35,178 shares in FourJaw, representing 2.18% of FourJaw's issued share capital, for a total consideration of £150,000. The investment further advances Lift's strategy of building a global centre for applied AI innovation alongside Yorkshire AI Labs LLP.
Majestic Corporation 250.00p £50.54m (AQSE:MCJ)
The sustainable circular economy solutions provider specialising in recycling precious and non-ferrous metals announced final audited results for the period ending 31 December 2025. Revenue was US$38.2m (FY2024: US$49.3m), profit before tax of US$1.35m (FY2024: US$1.01m) and Cash in bank and on hand of US$1.4m (as at 31 December 2024: US$1.5m). Operational highlights include the 50,000 sq. ft. processing facility in Wrexham, Wales, establishing the operational blueprint for large-scale material upgrading infrastructure capable of processing approximately 15,000 tonnes of recycling material annually at full capacity.
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