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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:
Carnival (CCL.L) has left the Main Market
What’s baking in the oven?
Potential IPOs:***
30 April: Reveille Resources, the European-focused investment company, intends to list on the Aquis Growth Market. Zenith Energy (ZEN.L) has agreed to spin out Futuro Energetico Italiano Srl (FEI) to Reveille on a “no profit, no loss basis”. Reveille has been established to pursue a strategy focused on identifying undervalued historical mineral deposits with significant exploration potential across Europe. The Lombardy Project will be Reveille's flagship project. Deal details and Timing TBC.
16 April: The National Investment Fund of the Republic of Uzbekistan (UzNIF) announced that it has confirmed its intention to proceed with an IPO in the form of ordinary shares and Global Depositary Receipts. All of the Securities to be offered as part of the Offering will be secondary shares from The Ministry of Economy and Finance of the Republic of Uzbekistan. The Offer Price has been set at USD 25.00 per GDR and UZS 4.65 per Offer share. With 5,054,262,531,127 Shares in issue, the Offer Price implies a market capitalisation of approximately USD 1.95bn. The LSE Admission and commencement of unconditional trading in the GDRs on the LSE are expected to take place on or around 18 May.
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 mid-May.
Reverse Transactions:***
1 May: Lansdowne Oil & Gas (AIM: LOGP), the Company currently suspended from trading on AIM, announced the conditional acquisition of Sao Gabriel Mineracao Ltda. a graphite project in Brazil whilst continuing to progress its litigation claim under the Energy Charter Treaty which has now received litigation funding to pursue a minimum of US$100m (plus interest) claim against Ireland in relation to the Barryroe project. The Company has published its AIM Admission Document and has conditionally completed an equity fundraising of £1.9m by way of a placing. Net proceeds of the Fundraising will allow for the advancement of Macaubas Project through an active exploration programme and provide general working capital. The Company will change its name to Lansdowne Resources and readmission to AIM is expected to occur on 27 May.
20th April: Ikigai Ventures Limited (LSE: IKIV), a special purpose acquisition Company focused on high-growth, scalable businesses, announced that final terms have been agreed for the proposed Acquisitions of the entire issued share capital of Dotlines (Guernsey) Ltd and Audra Solutions Ltd (together the Dotlines Group), companies that collaborate as a UK-based international technology group operating in the telecommunications, digital infrastructure, cybersecurity and financial technology sectors. Acquisition of the Dotlines Group with established, growing, revenue-generating operations is for a total consideration of £55.7m, to be satisfied by the issue of new Ordinary Shares in the Company on Admission. Based on the issue price of 9.5p per share, the market capitalisation of the Enlarged Group will be approximately £57.9m on Admission. The Company will move to AIM from the Main Market on 11 May.
Market Movers:***
13th April: EDX Medical (AQSE:EDX) which develops digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announced its intention to move to AIM from AQSE. No new capital is to be raised on Admission and the anticipated market capitalisation is £44.28m. Expected Admission date of 13th May.
Banquet Buffet****
London Stock Exchange: Main Market and AIM
Halo Minerals 11.50p £12.6m (HALO.L)
The copper development Company focused on extracting critical minerals from legacy mining waste announced that its 100%-owned subsidiary, Minera Playa Verde SpA has formally filed an application with the Delegado Provincial de Chañaral for authorisation to conduct mining activities on Playa Grande de Chañaral under Article 17 Nº 1 of the Chilean Mining Code. The Application requests permission to conduct mining activities on the beach areas containing historic tailings deposits and follows the EIA approval which was favourably granted in October 2025. Subject to permit approval, Halo is on track to commence site works at Playa Verde before the end of 2026.
hVIVO 8.0p £51.63m (HVO.L)
The purpose-built, full-service international clinical development partner and business focused on human challenge trials announces that it has signed a £6m Clinical Trial Agreement to conduct a human challenge (HCT) trial on behalf of a clinical-stage biopharmaceutical company developing novel therapies for respiratory viral diseases. The trial will evaluate the monoclonal antibody using the hVIVO Influenza Human Challenge Study Model. This will be a randomised, double-blinded placebo-controlled trial planned to take place at the Company's specialist state-of-the-art quarantine facilities in Canary Wharf. Healthy participants will be recruited through the Company's participant recruitment arm, FluCamp, and all lab work associated with the efficacy analysis for the study will be conducted by hVIVO's own specialist virology laboratory in Canary Wharf.
Mycelx Technologies Corporation 46.50p £10.96m (MYX.L)
The clean water and clean air technology Company reports for the FY December 2025. Revenue increased from $4.9m to $11.7m, with an increase in gross margins from 27% to 48% and PBT was $0.3m compared to a $2.6m loss in the prior period. The cash reduced to $0.9m from $1.3m, and a $0.5m credit line has been opened to increase funds available for sales and marketing, trial equipment, and bridging project accounts receivable as the Company expands and accelerates its reach to meet the growing demand for its technology in Produced Water treatment and remediation. A successfully completed onshore trial in the US Permian Basi, which is the most active and productive oil region in the world, with a large oil producer led to the award of a $3.9m contract.
NAHL Group 38.40p £16.40m (NAH.L)
The marketing and services business focused on the UK consumer legal market announced its audited results for the year ended 31 December 2025. Group revenue increased 3.2% to £40m from £38.8m in 2024, while the underlying profit before tax increased 260% to £5m. Net debt was reduced to £3.2m from £7.1m in 2024. The Consumer Legal Services division increased revenue by 4% to £23.8m, driven by growth in the Personal injury business of 5%, with revenues of £20.4m. The current trading for the year is inline with the Board’s expectations, with revenues up 3% against the same period last year.
Seed Innovations Ltd 3.25p £5.83m (SEED.L)
The investing Company announces that it has invested US$1m (c.£740k) in Feather Robotics, Inc. in the form of a Simple Agreement for Future Equity. Feather is a US-based robotics company developing modular humanoid robotic systems designed for deployment in real-world industrial environments. Its approach differs from a number of existing providers in that its systems are designed for deployment rather than research, with a focus on cost efficiency and practical application. The platform is modular in design, allowing it to be adapted across a range of industrial processes, and is intended to address mobile and intermittent tasks that are not well suited to traditional fixed automation. Feather is also positioning its technology as a general-purpose hardware platform for physical AI developers and integrators, supporting wider adoption and scalability.
The Smarter Web Company 41.0p £144.06m (SWC.L)
The web design business with a bitcoin treasury announced a direct subscription by Oliver Hewett, the Group’s Financial Controller, raising £502,034.23 through the issue of 1,283,975 Ordinary Shares at £0.391 per share. The Subscription follows Oliver's appointment as Group Financial Controller on 27 April 2026 using his personal funds at the closing bid price on 6 May 2026. The Board considers a personal investment of this nature by a senior employee to be consistent with the Company's broader culture of alignment between management and shareholders.
Touchstar 68.50p £5.43m (TST.L)
The suppliers of mobile data computing solutions and managed services to a variety of industrial sectors reports the FY December 2025. Revenue declined 1% to £6.8m, but with a 5.2% increase in ARR to £3.2m. The adjusted PBT declined 25.8% to £313k, for an EPS of 3.82p and net cash is £2.2m down from £3.9m and the dividend was increased 8.3% to 3.25p. Order intake entering 2026 is materially stronger, with Q1 2026 intake exceeding all corresponding periods since 2021. 2026 is expected to be a pivotal year, with a sharper commercial focus, maturing development governance and a stronger pipeline supporting the transition to a sustainable, growth-oriented Company.
Aquis Market:
BWA Group 0.425p £4.13m (AQSE:BWAP)
The mining investment Company with licences in Cameroon and Canada announced that further to the Ground Truthing and Reconnaissance programme at the Aracari Gold Project announced on 21 January 2026, BWA has engaged SRK Exploration Ltd to conduct a ground magnetometry survey and interpretation work over the area. The Company will work with its local partner, the Explorers 33 Group, to conduct the ground survey. The primary focus is the Company's AOI-1 target and the potential extrapolation of structures associated with the 1.23m ounces of gold recently reported by Oriole Resources at its Mbe exploration permit. BWA expects to make a further announcement regarding progress made in Q2 2026.
Majestic Corporation 250.00p £50.54m (AQSE:MCJ)
The sustainable circular economy solutions provider specialising in recycling precious and non-ferrous metals announced that further to the announcements on 17 July 2025 and 3 November 2025 its new 50,000 sq.ft. processing facility in Wrexham, Wales, is now operational and processing material. The Wrexham site is the largest in Majestic's UK network and central to the Company's strategy to build a vertically integrated circular economy platform across the UK and Europe. Commissioning has been completed on schedule, and the facility is now actively processing inbound material with newly installed equipment that expands Majestic's processing capabilities.
Newbury Racecourse 535.00p £17.91m (AQSE:NYR)
The racing, entertainment and events business today announces its preliminary results for the twelve months ended 31 December 2025. Revenue was £23.38m (2024: £22.04m), and a 24% surge in raceday attendance to over 165k visitors. The PBT remained steady at £1.11m, and the Company navigated an 8% rise in its cost base driven by inflationary pressures, national insurance hikes, and expanded concert programming. The Board maintains a positive outlook with four major concerts already scheduled, increases to prize money, and planned infrastructure upgrades including a new reservoir and hospitality enhancement, while recommending a final dividend of 6p per share.
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