Admissions:
None.
Delistings:
De La Rue (DLAR) and Direct Line Insurance (DLG) have left the Main Market.
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****
Alien Metals Limited 0.08p £7.3m (UFO.L)
The minerals exploration and development Company announced the completion of a helicopter-supported mapping and rock chip sampling programme that has identified significant iron mineralisation on the ridges of recently acquired tenure at its flagship Hancock Iron Ore Project located near the iron ore mining centre of Newman, in the Pilbara region of Western Australia. An Exploration Target of up to 27m tonnes and grade of 62% Fe has been defined, supported by recent exploration work. The lower end of the target is 12m tonnes at 58% Fe. This Exploration Target is in addition to the Mining Reserve and Mineral Resource estimates, as announced on 08 February 2024.
Coinsilium Group Limited 19.0p £70.64m (AQSE: COIN)
The digital asset venture builder, investor and advisor, announced the successful completion of an Accelerated Bookbuild to institutional investors. The Bookbuild has raised £2.787m at £0.18. The Offer Price was at a 10% discount to the closing bid price on 2 July 2025.
Coro Energy 0.83p £3.97m (CORO.L)*
The South East Asian renewable energy developer announced that it has signed a memorandum of understanding for a strategic partnership with Threefold Energy Group, an energy technology company backed by Tier 1 global partners. Threefold Energy enables businesses to significantly reduce their energy costs and associated emissions. Focused on the UK, European and South East Asian markets, it currently has 40MW in development in commercial and industrial BESS projects. Under the terms of the MOU, the two companies will explore opportunities in Vietnam and other South East Asian markets.
Crystal Amber Fund Limited 135.50p £88.28m (CRS.L)
The activist fund announced that MMI, the medical device company in which it owns 98% of the issued share capital, has received CE Mark certification for its RESET therapy. This is the first endoscopic, non-surgical treatment for both obesity and Type 2 diabetes in Europe. This CE designation, which ensures RESET has met all European Commission safety, health and environmental protection requirements, will allow access to treatment for the estimated 93 million patients in Europe living with obesity and type 2 diabetes. With CE Mark approval now in place, MMI will begin offering RESET in Germany, with plans to expand across the EU and other countries recognising CE certification. UK approval for RESET is expected in the coming weeks.
Intercede Group 187.5p £109.61m (IGP.L)
The cybersecurity software Company specialising in digital identities announced an update on recent contract and renewal orders worth c$1.5m in aggregate. These include orders with a US Federal Government Agency, a large existing US Defence company, an Aerospace manufacturer, an intelligence community agency in the US, and an existing Proof Of Concept client in the US federal space sector.
IntelliAM AI 97.5p £18.66m (AQSE: INT)
The software Company leveraging the power of AI and machine learning in the manufacturing industry announced that it has entered into a formal agreement with US-based hardware innovator Connection Technology Center (CTC), deepening IntelliAM’s collaborative partnership in the co-development of cutting-edge industrial sensing solutions, which includes the manufacturing of dual branded hardware. Together, IntelliAM and CTC have been working to integrate world-class dual-branded sensory hardware directly to IntelliAM's AI-powered platform-bridging critical data gaps and enabling richer, real-time insights for asset performance and predictive maintenance.
The agreement also supports IntelliAM sales in the USA, backed by domestic sensor supply provided by CTC as an authorised IntelliAM partner.
Mkango Resources Ltd 25.25p £57.23m (MKA.L)
The Company engaged in the exploration and development of rare earth elements and associated minerals announced that its wholly owned subsidiary, Lancaster Exploration and certain other wholly-owned subsidiaries of Mkango, have entered into a definitive business combination agreement dated July 2, with Crown PropTech Acquisitions. The proposed merger and the other transactions contemplated by the Business Combination Agreement, would create a publicly traded, vertically integrated, global pure play rare earths platform, comprised of Songwe Hill and Pulawy under the name Mkango Rare Earths Limited and its ordinary shares are expected to trade on Nasdaq.
Completion of the Proposed Business Combination is subject to a number of conditions. There can be no assurance that the Proposed Business Combination will be completed as proposed or at all.
Pennant International Group (UK) 28.5p £12.32m (PEN.L)
The systems support software and training solutions provider gives a business update. As expected, 2025 revenue is anticipated to be significantly second-half-weighted, particularly with the delay of likely award for the GenFly contract and rail business project work. The expected conversion of the software sales pipeline has also shifted into H2. Pennant's annual recurring revenue (ARR) from software subscriptions and maintenance now exceeds £2m. The net proceeds of the final property sales of £1.125m will be applied to reduce the overdraft borrowings although the transaction has realised a small loss against December 2024’s book value. The Directors remain confident that the Group will meet market expectations for the full year.
Pri0r1ty Intelligence Group 6.60p £9.57m (PR1.L)
The Company involved in AI-driven professional growth services for SMEs announced that completion of the acquisition of Halfspace, a London-based sports data and marketing business, will take place tomorrow, 4 July. Accordingly, the Company has today agreed to issue Initial Consideration Shares to the Halfspace Vendors. Founded in 2018, Halfspace is a marketing and technology business which primarily operates in the sports and entertainment sectors. Pursuant to the Acquisition, Rory Maxwell, the CEO of Halfspace, has been appointed as an executive director of the Company in the role of Chief Operating Officer with effect from Completion.
Quartix Technologies 240p £116.23m (QTX.L)
A supplier of subscription-based vehicle tracking systems, software, and services, announced it will publish interim results for the six-month period ending 30 June on 24 July. Management estimates that the financial results for the Period will show revenue of £17.5m (2024: £16.1m), EBITDA of £3.6m, and profit before tax of £3.5m (2024: both EBITDA and PBT £2.7m). The closing cash balance was £4.1m. The Company is confident of achieving market expectations for the year for revenue and EBITDA, and of being slightly ahead on free cashflow. The Company expects to declare an interim dividend of 2.5p per ordinary share (2024: 1.5p).
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