Admissions:
Today, none.
Yesterday, Elixirr International (ELIX.L) transferred from the AIM to Main Market.
Delistings:
Today, Aquis Exchange (AQX.L) and Kinovo (KINO.L) delisted from AIM.
Yesterday, Invinity Energy Systems (AQSE:IES) left AQSE.
What’s baking in the oven?
Potential** Initial Public Offerings:***
Updated 10th June: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announced that its proposed IPO onto the Main Market, which was expected to occur in late June, will be delayed. A routine thematic compliance inspection commenced earlier this year in the BVI, which was disclosed in the Company's Registration Document, requires additional time to enable finalisation ahead of the IPO. The inspection process is close to completion and the Company anticipates only a short delay to the IPO timetable. The Company reports the IPO has received strong investor interest and based on firm orders received to date, the institutional offer is heavily oversubscribed. Deal size and timing remains TBC.
Banquet Buffet****
88 Energy Limited 1.08p £12.44m (88E.L)
The energy Company updates on its partnered activities at Petroleum Exploration License 93 in the Owambo Basin, onshore Namibia, in which it has a 20% working interest. The Namibian Government has agreed to extend the First Renewal Exploration Period to October 2026 with a minimum gross spend of $800,000. The high-resolution gravity survey has focused on the southern area of PEL 93, as part of the Stage 1A Work Program and targeting pre-drill de-risking. The rig mobilisation is scheduled for mid-2025, with drilling expected to commence shortly thereafter. The Group has a strategic acreage position within the Owambo basin, and a clear forward program, so well-positioned for the next phase of onshore exploration and appraisal activities.
Avation 157p £104.5m (AVAP.L)
The commercial passenger aircraft leasing Company headquartered in Singapore which owns and manages a fleet of commercial passenger aircraft which it leases to airlines around the world reports a six-year lease agreement with an existing customer, PNG Air. This agreement is for one ATR 72-600 aircraft currently on lease to Mandarin Airlines and currently scheduled to be returned and to be transitioned to PNG Air during the Q4 2025.
Avacta Group 30.5p £117.99m (AVCT.L)
The life sciences Company developing innovative, targeted oncology drugs gives an AGM business update. Progress is reported against its strategic objectives for 2025 where the focus is on advancing its peptide drug conjugate pipeline with its innovative preCISION technology. Strong progress is being made with the clinical development of FAP-Dox (AVA6000), with patient enrolment ongoing in multiple dose expansion cohorts for Phase 1b study, including triple negative breast cancer. The data continues to show a favourable tolerability profile and increasingly durable responses in salivary gland cancers. The AVA6103 program is progressing towards the start of a Phase 1 trial early next year, developing a new class of medicines aimed at improving drug delivery and patient outcomes. The CEO states that advances in preCISION will continue to drive value.
Cook Coffee Company 8.5p £5.45m (AQSE:COOK)
The coffee focused café chain updates on the performance of its Esquire branded franchised stores in the UK and Ireland for Q1 for the FY March 2026. Sales increased 27.8% to £10.2m with continued growth in operating cash flows, driven by increased demand. The sites have increased to 95 across the UK and Ireland as at 30 June 2025, up from 89 at 31 March 2025. The new store located in Dairygold Co-op Super Store Garden Centre is performing exceptionally well, becoming the Group's top-performing store. There is a robust pipeline of new stores anticipated in the UK, with opportunities in additional geographies actively being explored.
Global Connectivity 1.2p £4.34m (AQSE: GCON)*
GCON focuses on holdings in companies that provide communication services and technologies that enhance connectivity and yesterday reported a further investment in PLUG Group Limited. A further £25k has been invested into PLUG at the same value of 200p increasing the holding by 1% to 7%. PLUG is reported to have begun extracting Telefonica Brazil's decommissioned copper cables and to be negotiating agreements with V.tal Brazil, and several other carriers in Europe.
IntelliAM AI 91.5p £17.51m (AQSE: INT)
The software Company leveraging the power of AI and machine learning in the manufacturing industry reports a new order. The order is from a high-quality food US manufacturer for three of its major manufacturing sites. IntelliAM AI is to supply software, technology support, and sensors on-site which will enable the manufacturer to maximise its manufacturing efficiencies and return on investment. The work to install the IntelliAM AI systems and sensors will start later this month. The order covers an initial period of 12 months and is the first order from the US.
LPA Group 50p £6.76m (LPA.L)
The innovation-led engineering specialist in electronic and electro-mechanical components and systems reports winning a contract to supply interior lighting retrofit solutions for two rail refurbishment projects. The total value of these combined contracts is just over £1.4m with customer deliveries expected to start in September and October 2025. The contracts are from a major UK-based train builder and one with a Dutch train operator. The Group will supply circa 9,000 LED tubes and 9,000 inverter bypass units for Alstom Class 357 trains. The second contact is to supply circa 20,000 LED tubes and bypass harnesses for Dutch Railways, with full delivery expected by end of September 2025. The contracts are a boost to LPA’s UK manufacturing sites.
Metals One 19.9p £55.73m (MET1.L)
The minerals exploration and development Company announces the completion of its acquisition of the Uravan Uranium-Vanadium Project located in Colorado, US. The total consideration is $50,000 in cash and 500,000 shares in Metals One. It has acquired 59 unpatented claims with a 10-year exploration lease (as originally announced on 24 April 2025) securing a foothold in one of America's most historic uranium-vanadium districts. Phase 1 exploration is underway including geophysical surveys, mapping, and sampling is ongoing to validate historical data and provide a modern geologic and geophysical baseline ahead of a potential Phase 2 drilling programme later in 2025 and rock samples have already been sent for analysis.
Wellnex Life Limited 15.5p £10.5m (WNX.L)
The consumer healthcare business that was quoted on AIM in March 2025 updates on an internal review. This review of operations is to identify key brand assets to focus on, and invest in, over the medium to long term. The Company has decided to divest The Iron Company brand to CW Retail Holdings Pty Ltd (part of the Chemist Warehouse group) for no cash consideration but for consideration in kind. The Iron Company brand contributed less than 0.5% to Wellnex' gross margins and the renewed strategy is to focus on major brands for customers in the growing healthcare market.
Windar Photonics 48.5p £46.74m (WPHO.L)
The technology Company with a LiDAR assisted Monitoring and Optimisation solution across multiple wind turbine platforms yesterday reported Finals to December 2024. Revenue was marginally lower at EU4.6m vs prior year revenue of EU4.8m, this was despite record product shipments worth EU5.8m of which EU1.2m is to be recognised as revenue in FY25. The gross profit margins improved to 56.4% from 50.4%, but with a 34.7% increase in administration costs and £222k of exceptional charges. The loss before tax rose to EU1.08m from 2023’s EU 0.11m loss. After the £5.5m fund raise in December 2024 at 40p, the net cash was EU7.1m at the year-end. This should be sufficient capital to support the expected step change in revenue growth. North American and China are key regions targeted, but customers remain cautious.
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