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* 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:
None
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. Deal details TBC and expected Admission date is 17 June 2026.
21 May: Coastal Africa Group, a newly formed incorporated Company focused on acquiring and investing in the oil and gas sector, energy infrastructure, energy services and energy assets across West Africa, has announced its intention to IPO onto AIM. The expected Admission date is anticipated early June 2026.
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.
Reverse Transactions:***
19th December 2025: Talon Resources (TAR.L), previously Medcaw Investments, the Company focused on identifying and acquiring prospective mining projects in the precious metals sector, with a primary focus on gold and other high-value commodities announced that it has entered into binding heads of terms (which includes an exclusivity agreement until 31 October 2026) with Ulvestone Ltd in respect of the proposed acquisition by the Company of 90% of the legal and beneficial interest in certain mineral exploration licences located in Ontario, Canada. The aggregate consideration payable by Medcaw is £4.17m, to be satisfied £70k in cash on execution of the definitive share purchase agreement, £100k in cash on AIM Admission, and £4m satisfied through the issue of new ordinary shares in Medcaw at a price of 1.5p per share, to be issued on AIM Admission. The indicative timetable in relation to the Cancellation and proposed re-admission to trading on AIM has been revised and is now expected to take effect on 23 June.
Market Movers:***
1st June: Mendell Helium (AQSE: MDH), the helium production company with operations in Kansas, announced its intention to move to AIM during the week beginning 15 June. No new Ordinary Shares are being issued or allotted in conjunction with Admission to trading on AIM with an anticipated market capitalisation on Admission of approximately £15m.
Banquet Buffet****
London Stock Exchange: Main Market and AIM
Aeorema Communications 62.5p £5.7m (AEO.L)
The strategic communications group announces its brand experience agency Cheerful Twentyfirst, has secured a record level of contracted Cannes Lions revenue for 2026. A key driver of this milestone is the exceptional client retention rate, with 92% of Cannes projects returning year-on-year, alongside an additional five new activations in 2026. As the Group continues to transition from transactional project execution to multi-year, strategic partnerships the revenue visibility improves, reducing seasonality and opening broader opportunities across complementary global events. This record Cannes portfolio falls within the first half of the current financial year, supporting strong visibility into H1 2026 and providing a solid platform for the remainder of the year.
Allona Rare Earth 2.6p £11.6m (REE.L)
The Africa focused critical minerals exploration and development company reports the receipt of rare earths assay results from its 2025 drilling campaign at Monte Muambe. The results are from samples from diamond drilling and reverse circulation drilling holes at the Fluorite Zone, Southern Extension, Kudu and Python. All drilling samples were reassayed for rare earths following the identification of Heavy Rare Earths (HREE) enrichment in association to fluorspar announced on 14 April 2026. Subject to the outcome of ongoing geological modelling, the Company expects to determine in the coming weeks whether a dedicated HREE mineral resource estimate is warranted. If confirmed by ongoing metallurgical work and geological modelling, this would meaningfully enhance the project's value proposition and add a fourth strategic commodity to Monte Muambe's already exceptional multi-commodity profile.
Aurrigo International 74p £66.1m (AURR.L)
The provider of fully autonomous vehicles, autonomy software, mobile robotics platforms and high-end, low-volume automotive technology, reports FY results to December 2025. Revenue is £8m compared to £8.9m in 2024 and the EBITDA loss increased to £3m from £1.6m which is line with expectations. The net cash was £11.5m compared to £3.1m, following equity raises positioning the Group to execute its next phase of growth. The company reports growing commercial momentum, an expanding pipeline and a strengthened balance sheet. The CEO believes that the Company is well positioned as airports increasingly move toward the long-term deployment of autonomous solutions.
Crism Therapeutics 11p £6.0m (CRTX.L)
The clinical-stage drug delivery company focused on the localised and sustained delivery of chemotherapy drugs has been awarded a grant. The non-dilutive grant is from Innovate UK under the Biomedical Catalyst 2025: Industry-led R&D Large Projects competition. It is for £896,088 which represents 70% of the total £1,280,125 project cost and will support the delivery of Part 1 of CRISM's open label Phase 2 registration-grade clinical trial for irinotecan-ChemoSeed in patients. The CEO states that winning the highly competitive award represents a major endorsement of the technology and will accelerate development towards open-label registration-grade Phase 2 trial in glioblastoma, a disease with profound unmet need and limited treatment options.
Finseta 8.75p £6.2m (FIN.L)
The foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, reports for the FY December 2025. Revenue increased 9% to £12.4m although gross margins reduced to 62% from 66% reflecting a higher proportion of corporate customer payments in the revenue mix. The EBITDA fell to £0.2m from £2.0m resulting from planned investments in new strategic initiatives to broaden capabilities and accelerate growth. At the FY net debts were £0.3m against net cash of £0.6m, although post year end £0.9m was raised. The Board continues to have strong levels of confidence in Finseta's prospects and in their ability to accelerate sales growth and increase profitability in the medium term.
Flowtech Fluidpower 54.50p £44.40m (FLO.L)
The international distributor and engineering solutions provider in power, motion, and controls announced the acquisition of the business and assets of Helipebs Controls, a long-established Gloucester based business, specialising in the design and manufacture of world class hydraulic cylinders and hydraulic systems.
Alongside its UK-based manufacturing capabilities, Helipebs has significant engineering expertise in delivering high-quality engineered solutions to customers globally across sectors including oil & gas, sub-sea, marine, research, green energy, and defence. The £0.4m consideration has been financed from the Group's own cash resources and it is expected that this cost will be fully recouped before the end of FY26.
Gateley Holdings 59p £79.7m (GTLY.L)
The professional services group, announced a trading update for the year ended 30 April 2026. The Board expects revenue for FY 26 of c £193m, up circa 7% on the prior year and ahead of consensus expectations, and underlying operating profit of between £21m - £22m, in-line with consensus expectations. The Group ended the year with net debt (excluding IFRS 16 leases) of £25.3m (FY25: £6.6m). The Group remains focused on margin improvement including from its system investments, such as Jylo, the AI platform, and returns from selective hiring in key growth areas, whilst continuing to actively manage its cost base, with a clear focus on continuing to maximise utilisation across the business and gaining operational efficiencies in FY 27.
Ondine Biomedical 13.75p £71.4m (OBI.L)
The innovator of light-activated antimicrobial therapies to prevent and treat hospital infections, reports FY results to December 2025. Revenues increased by 29% to $2.6m, driven by new hospital deployments and increased utilisation within existing accounts. Gross margin dipped to 61% from 64% reflecting the increased hardware segment while consumables margins improved. The operating loss increased to $30m from $19.4m as a result of increased investment in clinical evidence generation, including conducting the US Phase 3 pivotal study, FDA audit readiness, and operational infrastructure to support future growth. The YE net cash was $10.6m compared to $9.9m as during the year $24.2m was raised compared to $21.7m in the prior period. Since the YE a further $8.6m has been raised supporting continued operations and strategic priorities.
Pennant International Group 24p £11.4m (PEN.L)
The systems support software and training solutions company reports on the next major step in the Auxilium product roadmap which is the launch of Auxilium Phase 3. Auxilium is designed to provide customers with a powerful, unified toolset to manage, model and exploit complex systems data at scale. This significant product upgrade reflects the successful investment made into the Auxilium software suite. For the first time, customers can operate from a unified server and shared data environment, enabling true end to end supportability engineering and technical publications workflows. This will broaden the Group's capability and strengthening its customer proposition allowing a scalable foundation for continuous development.
Aquis Market:
Incanthera 1.975p £2.7m (AQSE: INC)
The company focused on innovative technologies in dermatology and oncology, announced the strategic acquisition of the Swiss premium skincare brand Enielle. This complements Skin+CELL, the Company's existing luxury skin care range and Company's sales strategy is being revised. As the enhanced portfolio of products will form the basis of a complete retail sales strategy reset designed to consolidate and compliment the Company's commercial skincare activities. The all-share deal is for up to 54m shares comprising; 13.79m consideration shares issued on completion and 40.21m deferred. The Board believes the two product platforms are highly complementary enabling the Company to present a combined "protect by day, repair by night" skincare offer. The appointment of Mr. Stuart Robertson as the new Chief Executive Officer, is also announced.
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