* 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:
GlobalData (DATA.L) the data, insight, and technology Company moved from AIM to the Main Market today.
Delistings:
SolGold (SOLG.L) left AIM 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 a buy-and-build strategy. On 26 February, 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. The Acquisitions, individually and collectively, constitute a Reverse Takeover. Anticipated market capitalisation on readmission will be £54.6m.
Expected Admission date is 19 March.
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.
2 March: Onward Opportunities (ONWD.L) the UK smaller 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****
Atlas Metals Group 6.75p £2.52m (AMG.L)
The natural resources and energy Company announces that it has entered into a convertible loan agreement and a related warrant agreement with YA II PN Ltd, an institutional investor managed by Yorkville Advisors Global, LP, to provide up to £2.5m to contribute to, inter alia, the costs and expenses incurred in connection with completion of the Company's proposed acquisition of Universal Pozzolanic Silica Alumina Ltd. The Company also shared an update regarding the establishment of an "at-the-market" facility with Axis Capital Markets Limited. The facility is made up of two convertible loans, the first loan being £500k and the second loan of up to £2m.
Cordel Group 5.25p £10.63m (CRDL.L)
The AI platform for transport corridor analytics reports a new contract with a US Class I railroad, representing the third of seven Class 1 Railroads in North America who have selected Cordel. The initial phase includes capture of up to 3,000 miles of active rail network to support real-world operational validation. Cordel's alignment with railroad clearance assessment requirements, leveraging LiDAR technology to enable consistent, data-driven clearance evaluations, will be proven as part of a long-term digital inspection strategy. The series of contract reflects the Company’s measured, partnership-driven approach to advancing digital inspection capabilities while aligning technology development with operational railroad requirements.
MicroSalt 59.50p £32.56m (SALT.L)
The manufacturer of full-flavour natural salt with approximately 50% less sodium announced that it has received a Purchase Order from a new customer, a UK subsidiary of a European group specialising in natural flavours, colours, and ingredients. The Company has been working with this customer for the past 12 months to test products incorporating MicroSalt's technology. This initial Purchase Order is expected to be followed by further orders and whilst not significant in terms of the Group's revenue forecasts for 2026 or 2027, the contract represents the Company's first B2B commercial sale in the UK.
Rentguarantor Holdings 29.50p £42.15m (RGG.L)
The provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK private rental sector announced its audited financial results for the year ended 31 December 2025. Revenues were up 87% to £2.39m (FY2024: £1.27m), with the number of tenant contracts rising 85%, assisted by the continued positive impact of the Company's three-year guarantee product. The year end cash reserves increased to £2.05m (FY2024: £272k), supported in particular by the fundraise in Q4 2025. The Operating loss was £1.38m, or £817,000 excluding the AIM Admission costs and accelerated marketing spend.
RM 98.00p £100.05m (RM..L)
The educational technology, digital learning and assessment solution provider reports its full year results for the year ended 30 November 2025 and provides an update on its strategy. The Adjusted operating profit from continuing operations increased by 33.2% to £11.5m and adjusted EBITDA by 19.9% to £16.5m. Revenue from continuing operations is slightly down reflecting the ongoing challenges facing the UK schools’ market in H1 impacting the Technology and TTS divisions. RM’s higher margin, core Assessment division has achieved 19.9% revenue growth with digital platform revenue up by 17.3% versus FY24. Adjusted net debt has reduced by £1.1m to £50.6m following the equity placing last October and a further £6m being invested in RM Ava, the adaptive virtual accreditation platform. The substantial contracted order book of Assessment is maintained at £95.5m at the end of FY25 (FY24: £95.7m).
Robinson (UK) 115.00p £19.69m (RBN.L)
The custom manufacturer of plastic and paperboard packaging reports finals for December 2025. Revenue was virtually unchanged at £56.2m and the underlying profit increased to £3.6m compared to £3.2m with the PBT at £3.0m compared to a loss of £3.8m. The net debt reduced to £5.4m from £5.9m and the full year dividend will be unchanged a 6p. This included the proceeds of £1.0m from a property and progress is being made on the remainder. The refreshing of the group strategy is continuing including strengthened sustainability commitments and the development of an organisation structure to drive growth and profitability. This, the Chairman stated, provides a solid platform for long term value creation.
Silver Bullet Data Services Group 19.00p £3.30m (SBDS.L)
The provider of AI driven digital transformation services and products updates on Trading for FY December 2025. Revenue is broadly in line with that achieved in 2024 as Q4 2025 was impacted by macroeconomic headwinds particularly in the US. A cost cutting programme has reduced operating expenditure in H2 combined with the Group's ongoing AI efficiencies, which are now being realised. With this reduced cost base, the Company reports that it has been trading profitably at the EBITDA level since the start of 2026 and the Board expects this to continue throughout the year. Recent new client wins have included a major European airline and a new significant partner for 4D on the US. Committed revenues are already at 73% of management's expectations for the full year to December 2026, with an additional strong pipeline of new business not yet reflected in managements forecasts.
Strategic Minerals 3.55p £91.27m (SML.L)
The international mineral exploration and production Company announced that its wholly owned subsidiary, Cornwall Resources Limited, has received assay results from drillhole CRD039, including ultra-high-grade intersections and long intersections of high-grade mineralisation from the Redmoor Tungsten-Tin-Copper Project in southeast Cornwall. The drillhole returned a tungsten equivalent of 22.09% WO3.Eq from 563.13m. The results showed significant intersections of high-grade tin (7.45%), copper and notable silver values associated with the Sheet Vein System.
Xeros Technology Group 1.45p £11.64m (XSG.L)
The creator of technologies that reduce the impact of clothing on the planet announced that its XF3 manufacturing partner Donlim has received a Purchase Order from MediaMarkt, Europe's largest consumer electronics retailer for an initial production run of XF3 units. The XF3 Microfibre Filtration unit will be launched under MediaMarkt's 'in house' brand, Koenic, and will feature Xeros Technology as a sub brand. MediaMarkt has over a thousand stores throughout continental Europe and turnover of EUR23bn.
Zenith Energy Ltd 3.65p £19.19m (ZEN.L)
The international energy production and development Company announced the acquisition of an additional photovoltaic development project located in the Puglia region of Italy, with an expected installed capacity of approximately 10 MWp. The Company has secured sufficient land to accommodate an integrated 4 MW Battery Energy Storage System to optimise energy dispatch and support the requirements of the local grid. The total consideration for the Puglia Acquisition is EUR 1.05m. Payment will be made upon securing all required permits and achieving RtB status at the conclusion of the development process.
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