Admissions:
Technologies New Energy (TNE.L) announcedits RTO via Codex Acquisitions on the Main Market of the LSE. On Admission, the market capitalisation of the Company will be approximately £32m. TNE is incorporated in Portugal, operating in the renewable energy sector, focusing on energy transition, biofuels, chemicals, and the bioeconomy
Delistings:
None
Potential** Initial Public Offerings:
Media Speculation:
28 April 2025: Media reports Waves Audio, headquartered in Tel Aviv, is planning a £300m London IPO. Waves Audio makes professional digital audio signal processing technology and audio effects used in recordings, mixing, mastering, post-production, broadcasting, and live sound. It employs more than 200 people, and has a major international presence, including in Europe and the US. The Company, which is majority-owned by founders Meir Sha'ashua and Gilad Keren, is expected to raise money from the sale of new shares, although the details have yet to be finalised.
29 April 2025: Media reports that Metlen hoped to take advantage of a recent rule change that would allow it to trade its share in London in Euros. It aims to secure a primary listing in London this year and retain a secondary listing in Athens, where it is traded at present with a market capitalisation of EUR6.15bn, which would be enough for it to enter the FTSE 100. Metlen has interests including aluminium production, renewable power generation, and household energy supply.
Aptamer Group 0.325p £6.47m (APTA.L)
The developer of next-generation synthetic binders delivering innovation to the life science industry has entered into a global licensing agreement with the University of Glasgow. The Agreement is for the commercial use of its Optimer binders as vaccine adjuvants in the swine health sector. The University will lead product development; commercialisation is anticipated within the next 12 months. Aptamer will receive a 10% royalty on all future revenues from any vaccines incorporating the licensed Optimers, so creating a scalable, global, non-dilutive revenue stream. This partnership is an important milestone and provides Aptamer access to the $1.75bn global swine vaccine market (2024); an industry experiencing sustained demand for improved animal health solutions.
GENinCode 1.45p £4.2m (GENI.L)
The genetics Company focused on the prevention of cardiovascular disease announces an update on its Food and Drug Administration (FDA) De Novo submission. The FDA has provided full feedback on the application and determined that certain outstanding elements remain; including deficiencies in relation to clinical validation, that need to be addressed. The Board does not believe that there are any elements that it cannot address, however there can be no certainty that the information provided will be sufficient. A further update will be made along with the finals at the end of May 2025.
Global Connectivity 0.65p £2.3m (AQSE: GCON)*
The Company focused on communication services and technologies that enhance connectivity provided a shareholder update. Further capital investments of £14.5m have been made by Tiger Infrastructure, GCON's partner in and majority shareholder of RBSHL, into RBSHL since GCON's update on 29 January 2025. RBSHL's current stake in Voneus is 43.9%. GCON now owns a 2.8% stake in RBSHL's common equity. GCON invested a further £50,000.00 into PLUG and is now a holder of 6 per cent of PLUG shares. PLUG is a cable extraction company that uses what Directors believe are unique fluid and tension technologies to extract decommissioned network cables for Telecommunications carriers. The Company will report its December FY results in May 2025.
Huddled Group 3.9p £12.61m (HUD.L)
The circular economy e-commerce Group makes a Q1 trading update for the update three months to March 2025. Revenues increased 110% to £4.4m having exceeded £1.7m in March, with both Nutricircle and Boop Beauty recording their best months ever. There are 62.7k new customers added in the period, an increase of 64% versus Q4 2024. The investment in warehouse infrastructure, lift, and offices is pending the additional floor being fully commissioned in Q2 2025. The CEO states that progress is being made and remains confident there are sufficient resources to reach both operational profitability, before head offices costs and cash generation.
Sanderson Design Group 42.5p £30.1m (SDG.L)
The luxury interior furnishings Group announces FY results for FY January 2025. Revenue declined 7.6% to £100.4m leading to an adjusted underlying profit of £4.4m, compared to £12.2m. The YE cash reduced to £5.8m from £16.3m with a 51.1% reduction in the dividend to 1.5p. The Statutory loss is £13.9m compared to a £10.4m profit because of a £16.3m non-cash impairment of intangible assets relating to goodwill arising from the acquisition of Clarke & Clarke in October 2016. The Sanderson brand has been granted the Royal Warrant of Appointment by His Majesty King Charles. North America remains a key growth opportunity and there is no material direct impact from tariffs imposed on imports into the US at this stage.
Skillcast Group 38.5p £34.4m (SKL.L)
The Governance, Risk, and Compliance software and e-learning provider reports FY results to December 2024. Revenue increased 17% to £13.2m with an improved gross profit margin to 73.6% from 69.7%, leading to an EBITDA of £0.5m compared to a loss of £0.6m. The PBT is £0.55m against a loss of £0.647m, giving an EPS of 0.572p compared to a negative EPS of -0.733p. The revenue increase was driven by strong growth in recurring subscriptions, up 29% at £11m and Annual Recuring Revenue (ARR) contributed to 83% of total revenues (2023: 76%). YE cash improved to £9.1m compared to £7.2m. The FY dividend is being increased by 25% to 0.349p. A solid start to the new financial year is reported with the ARR up more than 20% year on year in March 2025. Non-strategic Professional Services revenues have started well though continue to have limited visibility. The CEO stated that operational gearing will continue to improve the EBITDA margin.
SysGroup 22p £18.66m (SYS.L)
The technology services provider specialising in digital and AI transformation for UK SMEs provided a trading update yesterday for FY March 2025 in line with market expectations. Revenues are 9.6% lower at £20.5m and Adjusted EBITDA of £0.9m down from £2.0m. Following a £10.6m fund raising, net cash is £3.6m after making investments in the AI Service desk, an acquisition, and earnout payments. The aim is to become a leading provider of end-to-end solutions for SMEs on AI and machine learning. A significant milestone was made in the hyper-scale cloud space by achieving the AWS Advanced Partner which enables the delivery to clients of scalable, future-proof cloud foundations. In cybersecurity, the Group is one of only three UK-based Advanced Partners for Rubrik, a leader in data security and cloud data management. SYS aims to drive growth both organically and through strategic acquisitions.
Titon Holdings 71p £7.99m (TON.L)
The international manufacturer and supplier of ventilation systems and window and door hardware reports interim results to March 2025. Revenue declined 2.3% to £7.647m, with an improved underlying loss before exceptionals of £162k compared to a loss of £544k. The decline in revenue is due to a reduction in UK and US sales in window and door hardware business. Sales of mechanical ventilation systems however rose by 10.9%, driven by strong growth in the more profitable UK domestic market. The net cash of £2.85m was ahead of last year’s £2.32m. The UK sales team is being rebuilt, and the order book has grown to more than £3m from £1.1m in the last 12 months. Margins have improved meaningfully as progress is made across Titon's strategic programmes.
Touchstar 72.5p £5.95m (TST.L)
The suppliers of mobile data computing solutions and managed services to a variety of industrial sectors reported FY December 2024 results yesterday. Revenue declined 4.6% to £6.9m, due principally to a delayed major order which has since been confirmed for the current year. Recurring revenue however increased 4.5% to £3.1m, but with a 34% decrease in adjusted PBT to £0.45m for an EPS of 5.16p down from last year’s 7.63p. Gross profits margins increased to 60.2% from 59.3% and the dividend was boosted 20% to 3p and YE net cash little changed at £2. A new CEO joined the Board on 1st July 2025 and is driving a regeneration strategy. Significant changes are being made to the organisation, as the Company seeks opportunities to grow in UK and overseas, with cross-selling to customers, and entering new industry sectors.
Zinc Media Group 62p £14.85m (ZIN.L)
The television and content production Group reports FY December 2024 results showing growth in adjusted EBITDA, and an Operating Profit for the first time in many years. Revenue however decreased 4.3% to £32.3m, but with increasing gross profit margins from 38.5% to 44.5%. EBITDA improved to £1.5m from £1.4m, with an adjusted Operating Profit of £0.3m compared to an Operating loss of £0.4m. There is a reduced statutory LBT of £1.4m compared to a £1.5m loss last year. Net cash is £2.2m and further investment is being made in the infrastructure platform, including the commercial strategy and post-production to enable scalability and improve operational gearing as the Group grows organically and by selective M&A.
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