Admissions:
3rd September: Vulcan Two Group (VUL.L) announced its IPO onto AIM today. The new Company has been established to acquire companies in the ePharmacy market and will initially focus on businesses operating substantially in the UK. Vulcan Two's plan is to lead the consolidation of the private prescription sector. The Group's two Executive Directors, Michael Kraftman and Brendan O'Brien, have experience in the eCommerce healthcare sector, having built Vision Direct, one of Europe's leading online contact lens suppliers, between 2009 and 2021. The company raised gross proceeds of £12m at 200p by way of a placing and subscription. Based on the Issue Price, the Company's market capitalisation on Admission will be approximately £13.6m.
Delistings:
Yesterday, Argentex (AGFX.L) left AIM
What’s baking in the oven?
Potential** Initial Public Offerings:***
12th August: B HODL has announced its application for Admission to the AQSE growth market. The Company is focused on generating low-risk, sustainable revenue through operational activities focused on the acquisition, accumulation, and management of Bitcoin. The Company’s initial business model centres around the operation of Lightning Network nodes, which generate revenue by charging fees for routing Bitcoin transactions. By leveraging the scalability and efficiency of the Lightning Network, B HODL aims to capitalise on transaction fee income and provide inbound liquidity to other Lightning node operators as its first lines of business. The expected admission date is on or around Monday, 8 September.
Market Movers:
Astrid Intelligence (AQSE: ASTR), formerly Cel AI PLC, has moved from the LSE Main Market to the Access Segment of the AQSE Growth Market.
Banquet Buffet****
Aoti Inc 55p £64m (AOTI.L)
The medical technology group focused on the durable healing of wounds and the prevention of amputations, today announces that topical oxygen therapy is included in the National Institute for Health and Care Excellence updated Diabetic Foot Problems: Prevention and Management guideline, and the Company's Topical Wound Oxygen therapy is now active on the Advanced Wound Care framework, awarded by NHS Supply Chain. The updated NICE guidelines include topical oxygen therapy as an adjunct to standard care for diabetic foot ulcers that are not responding to treatment, reflecting increasing recognition from national health authorities of the clinical value and potential of TWO2 therapy to improve outcomes in difficult-to-heal wounds.
Andrada Mining 3.75p £70.1m (ATM.L)
The critical minerals producer with mining and exploration assets in Namibia, announces the commencement of exploration drilling at the Lithium Ridge project in partnership with Sociedad Quimica y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd. This milestone represents part of the stage 1 workplan of the three stage earn-in agreement with SQM. Under this first stage, SQM will fund up to US$7m in exploration to secure an initial 30% interest at project level with the potential to fund up to US$40m over the three stages.
Churchill China 420p £46.2m (CHH.L)
The British–based pottery manufacturer today released interim results for the period ended 30 June 2025. Revenue in the period decreased by 5.2% to £38.5m (H1 2024: £40.6m, FY2023: £78.3m) with strong performance in the USA and UK hospitality markets, but weaker performance in Europe, Rest of World and the materials business. Operating profit was £2.8m, down from H1 2024 which was £4.5m with lower volumes and cost increases only partially offset by selling price increases and efficiency gains. Profit before tax decreased to £3.1m (H1 2024: £4.8m) while EBITDA reduced by 30.9% to £4.4m (H1 2024: £6.4m). The Company’s cash balance at 30 June 2025 was £5.6m (H1 2024: £7.8m). The company expects stable market conditions while introducing new products, reducing costs, and improving operational efficiency for 2026.
Cora Gold 10p £48.5m (CORA.L)
The West African focused gold company, announces Updated Reserves and the results of an updated Definitive Feasibility Study for its flagship Sanankoro Gold Project in southern Mali. The Updated Probable Reserve is 531 koz at 1.13 g/t gold based on a gold price of US$2,200/oz (a 26% increase over the Maiden Probable Reserve of 422 koz at 1.30 g/t Au based on a gold price of US$1,650/oz). The 2025 enhanced Definitive Feasibility studies (based on a gold price of US$2,750/oz) , showed an IRR of 65% and free cash flow of US$479m over life of mine.
Gelion 21p £37.1m (GELN.L)
The UK-Australian battery technology innovator, has announced it has successfully transferred and integrated the Max Planck Institute of Colloids and Interfaces advanced materials and has successfully fabricated the sulfur cathode active material in its Sydney based ACPC facility. This is a major technical milestone in advancing Gelion's next generation Lithium Sulfur and Room Temperature Sodium Battery technologies, enabling the Company to expand partner testing, materially de-risking the pathway to market adoption, whilst giving the Company greater operational control.
James Cropper 300p £28.7m (CRPR.L)
The Advanced Materials and Paper & Packaging group, provides a trading update for the 18-week period ended 2 August 2025, ahead of its Annual General Meeting taking place at 11:30am today. Performance in the Period has been slightly ahead of expectations in both divisions with progress in the execution of the Board's updated strategy, outlined at the Capital Markets Event on 18 June 2025. With cash management in line with the recently stated capital allocation policy, and the benefit of £1.2m net receipts from the sale of non-core assets, the net debt of £10.3m as at 2 August 2025 has reduced from £12.9m since 29 March 2025, the end of the Group's last financial year, and is £5.0m lower than the position at the same time last year.
Jangada Mines 0.775p £5m (JAN.L)
The Brazil focussed natural resource development company has commenced exploration at the highly prospective 7,211-hectare Paranaita Gold Project, located in Brazil's historically significant Alta Floresta-Juruena Gold Province. Funded by a recent capital raise, the program aims to validate the
existing 210.000 oz gold and targeted expansion to circa 350,000 oz Au, under JORC reporting. The company is targeting delivery within six months of a Preliminary Economic Assessment for a high-grade, open-pit operation producing circa 20,000 oz Au/year.
Narf Industries 0.6p £10.2m (NARF.L)
The U.S.-based cybersecurity group specialising in advanced threat intelligence and software system security, today announced that its Ranger.ai Agentic AI threat and remediation platform has achieved "Awardable" status through the Platform One (P1) Solutions Marketplace. The P1 Solutions Marketplace is a digital repository of post-competition, 5-minute, readily-awardable pitch videos that address the U.S. Government's most urgent requirements in hardware, software, and service solutions. Ranger.ai is a powerful software platform that helps organizations identify hidden threats in open-source software before they escalate into serious issues. Ranger.ai's initial rollout is focused on government clients with critical needs. This will be followed by enterprise clients and partners in high-risk, regulated sectors, including defence, financial services, healthcare, and critical infrastructure.
Ondo Insurtech 32p £44.3m (ONDO.L)
The claims prevention technology company for home insurers announced that Admiral has signed a new two-year agreement to continue offering LeakBot to its home insurance customers. As part of this renewed partnership, Admiral will deploy an additional 10,000 LeakBot devices in 2025. Admiral is one of the top five UK home insurance providers and has been working with LeakBot since 2022, using the technology to help policyholders proactively detect and resolve hidden water leaks before they cause significant damage. The 10,000-device deployment will be implemented before the year end and supports Admiral's broader strategy to mitigate water damage risk and enhance service for policyholders.
Videndum 52.3p £54.2m (VID.L)
The international provider of premium branded hardware products and software solutions to the content creation market, announces that it has reached agreement to sell its consumer orientated JOBY brand to VIJIM, the maker of camera and smartphone accessories. This sale supports the Company's strategy to focus on core professional markets. Whilst undisclosed, the proceeds of the sale will be used to pay down the Group's debt. In addition, Videndum will retain inventory which will be released over time.
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