* 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:
Walker Crips Group (WCW.L) left the Main Market today
What’s baking in the oven?
Potential IPOs:***
4 March: Scotch Corner Designer Village Holdings plc, which is developing a largely pre-let retail and leisure destination in the North of England, announced its intention to apply for admission to trading on the Aquis Real Asset Market (ARAM) segment of the Aquis Stock Exchange Growth Market. The Company is seeking to raise £25.5m. The listing is expected to complete in April 2026.
24th February: Tapir Holdings announced its intention to IPO onto AIM. Tapir Holding Ltd (TPH.BH) listed on the Bermuda Stock Exchange on 11 March 2024 and sole asset is its 10.04 per cent. equity stake in Rendeavour Holdings Limited, incorporated in Bermuda and is an investor in East and West African urban development projects. On Admission, the Company will be an 'Investing Company' seeking to achieve its investment objective through further investments in Rendeavour and in other development projects or unquoted companies with suitable synergy across Africa. On Admission to AIM, the Bermuda Stock Exchange will become the secondary listing and AIM the primary listing for the Shares. Deal details TBC and expected Admission date is early March 2026.
Reverse Transactions:***
18 February: AIM quoted Beacon Energy (BCE.L) suspended on 27 June 2025, has published an Admission Document in relation to the Proposed Transaction announced on 7 October 2025 to make a significant strategic investment in LNEnergy Limited which constitutes a reverse takeover and raise gross proceeds of approximately £3.75m. The AGM is set for 5 March with restoration of trading of the enlarged shared capital expected on 6 March.
4 March: Vulcan Two (VUL.L), the AIM quoted investing company is aiming to create the UK's leading regulated ePharmacy through buy-and-build. On 26 February 2026, the Company announced that it has conditionally agreed to acquire three companies in the UK ePharmacy market, being CloudRx, Hyperdrug Pharmaceuticals and Webmed Pharmacy. The total maximum consideration for the Acquisitions is approximately £41.7m. To satisfy the consideration payable for the Acquisitions, the Company has conditionally raised gross proceeds of £40m, by way of an institutional placing. The Acquisitions, individually and collectively, constitute a Reverse Takeover. Anticipated market capitalisation on Readmission will be £54.6m. Expected admission date is 19 March 2026
Market Movers:***
25 February: Roquefort Therapeutics (ROQ.L),the Main Market listed biotech Company, is acquiring assets from Coiled Therapeutics, Inc. and A2A Pharmaceuticals, Inc. and at the same time moving to AIM. £8.5m is to be raised on Readmission at an issue price of 10 pence per share with an anticipated market cap of £42.6m. Expected Admission date is 27 March 2026.
14 January: GlobalData (DATA.L), the data, insight, and technology Companyexpects to submit its application to move to the Main Market from AIM and to take place on 5 March.
2 March: Onward Opportunities (ONWD.L) the UK smaller company focussed investment Company announced that it is exploring a move from AIM to the closed ended investment fund category of the FCA's Official List and to trading on the Main Market, to broaden the Company's potential investor base. The Company is targeting the migration becoming effective in the Q2 2026.
Banquet Buffet****
Dotdigital Group 57.3p £173.8 (DOTD.L)
The provider of an AI-powered customer experience and data platform for intelligent, personalised marketing at scale, announced the accretive acquisition of Alia Software Inc., an AI-powered pop-up and email/ SMS list-growth tool built exclusively for Shopify merchants. Alia is a US-based SaaS platform that expands first and zero-party data and customer reach by converting anonymous website visitors into known email and SMS contacts through intelligent, brand-aligned pop-ups and interactive experiences. The initial consideration for the Acquisition is $30m, with a total maximum consideration of up to $60m dependent upon future performance. All consideration is payable in cash, funded from existing cash reserves, and the Acquisition is expected to be earnings-enhancing for the first 12 months of consolidation. Should performance targets be achieved, the maximum consideration payable would equate to two times forward-looking ARR.
eEnergy Group 5.35p £20.7m (EAAS.L)
The Energy-as-a-Service provider funding and delivering energy infrastructure upgrades across multi-site portfolios with zero upfront cost for its customers, announced two new contract awards in the UK public sector, comprising a multi-site schools project and a contract with a major hospital. The Unity schools partnership was awarded to supply and install rooftop solar photovoltaic systems across 19 schools, worth £1.1m. The Plymouth University Hospital contracts is worth £0.7m to supply and install LED lighting across seven buildings.
Faron Pharmaceuticals 51p £59m (FARN.L)
The clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, today published its Annual Report for 2025. In 2025 Faron presented as an oral presentation the results of its BEXMAB Phase I/II trial at ASCO, EHA, ESMO and ASH congresses. Efficacy results are among the highest ever reported in HR-MDS prospective trials. During the spring 2025 Faron received a positive opinion on orphan drug designation for bexmarilimab for the treatment of MDS by EMA and also the FDA granted an orphan drug designation for bexmarilimab in HR MDS. Faron held an End of Phase 2 (EOP2) meeting with the FDA in the end of the summer and received positive and Faron’s other operating income was EUR1.3 m. R&D expenses were EUR12.7m, on 31 December 2025, cash and cash equivalents were EUR12.3m. The Company's comprehensive loss for the period was EUR27,191,954.
Georgina Energy 6.25p £8.0m (GEX.L)
The Company focused on establishing itself among the top producers of Helium and Hydrogen worldwide, reports that a formal proposal has been received after the issuing Request for Quotation for an appropriate drilling rig, water well drilling rig, access road, and airstrip repairs for the planned Hussar prospect re-entry well in EP513. Preparatory civil works and drilling and completion programme remain funded by Harlequin Energy under a structured offtake funding arrangement (non-dilutive to Georgina shareholders). Representatives of the drilling company will meet with Georgina's technical team within the next seven days to review the planned drilling programme and timeline. The Company is working with another mineral explorer in the district to share the costs of equipment, crew mobilisation and demobilisation for repair of the access roads and airstrip. The Hussar prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects in onshore Australia.
MTI Wireless 53p £46m (MWE.L)
The technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announced its audited results for the year ended 31 December 2025. Revenues increased 13% to US$51.5m (2024: US$45.6m), with net profit increasing 11% to US$4.66m. Net cash was US$9.0m at 31 December 2025. The company extended the buyback program until March 2027.
Netcall 105.5p £180m (NET.L)
The enterprise software company that unites automation and customer engagement in one AI-powered platform, today announces its unaudited results for the six-month period ended 31 December 2025. Revenue grew 15% YOY to £26.5m, driven by 11% organic growth plus an initial contribution from Jadu (acquired in December 2025). Net cash was £14.8m and the Group remained debt-free, after £12.7m of acquisition-related payments, providing flexibility for continuing organic investment and selective M&A. Momentum has continued into H2, with a strong pipeline and a record contracted order book of £92.4m.
Ondo Insurtech 16.5p £24.72m (ONDO.L)
The provider of claims prevention technology for home insurers, reports the rollout of LeakBot across Selective Insurance's 15-state Personal Lines footprint. Ondo began its relationship with Selective in February 2024 through a single-state pilot programme, expanded it later that year across multiple states, and is now expanding it further to make LeakBot available to all the insurance company's eligible homeowners policyholders.
Premier African Minerals 6.125p £6m (PREM.L)
The African Mining company announced that Canmax Technologies has elected to convert £9,384.48 (US$12,514.58) of the accrued interest due under the Restated and Amended Offtake and Prepayment Agreement into new ordinary shares in the Company, in accordance with the terms of the Addendum to the Agreement as announced on 24 December 2024. The Company has therefore issued today 46,922,389 new ordinary shares to Canmax at an issue price of 0.02p per Canmax Share, being the same issue price as the Company's last share issue announced on 25 February 2026.
Pulsar Helium 85.50p £146.4m (PLSR.L)
The primary helium company announces that the Jetstream #7 appraisal well at the Company's flagship Topaz Project in Minnesota, US has intersected a pressurized gas zone. The gas zone was encountered at a depth of approximately 2,107 feet (642 meters) with a preliminary bottom-hole pressure of approximately 953 pounds per square inch (psi). Visible gas influx was observed during drilling operations, confirming a strongly pressurized system. The planned total depth is 3,000 feet and the flexibility to deepen to 5,000 feet, which will position the Company to further evaluate the vertical extent and reservoir characteristics of this helium-bearing system. All Jetstream appraisal wells drilled to date have encountered pressurized gas, underscoring the emerging continuity and strength of the Topaz helium system.
URU Metals 6.125p £6.1m (URU.L)
The mineral exploration and development company focused on critical metals projects in South Africa announced that line preparation activities commenced on 2 March along the survey lines required for the planned ground-based geophysical programme at the Zeb Nickel Project. The line preparation is necessary to provide safe and continuous access for survey crews and equipment, and to ensure accurate data acquisition along the planned gravity and frequency-domain electromagnetic profiles. The line preparation marks the start of the next phase of exploration, aimed at enhancing the resolution and refining the interpretation of the previously completed airborne geophysical surveys.
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