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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.
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. £17.4m will be raised on Admission with an anticipated market capitalisation of £218m. The expected Admission date is 10th June.
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
Alien Metals 0.12p £14m (UFO.L)
The minerals exploration and development company notes the release of an announcement by its joint venture partner, West Coast Silver Limited, regarding the Elizabeth Hill Silver Project. The announcement outlines assay results for the first 17 of 32 reverse circulation (RC) drill holes completed in May 2026 at the project, located near Karratha in Western Australia's Pilbara region. The RC drilling has significantly increased the scale of silver mineralisation up to 70m north of the Elizabeth Hill April 2026 maiden mineral resource estimate, confirming the mineralised system is open at depth and along strike, with multiple holes ending in mineralisation in the Munni Munni Fault Zone. The best intersections received to date include 60m @ 25 g/t Ag from surface (including 19m @ 31 g/t Ag)
and 26m @ 31g/t Ag from 4m. The majority of new mineralisation lies outside the April 2026 MRE, increasing the scale of the mineralised system and providing a clear basis for MRE growth.
Aterian 25p £4.5m (ATN.L)
The African-focused critical minerals exploration, development and trading company, announced that its wholly owned Rwanda subsidiary, Eastinco Limited has entered into a long-term supply agreement with an established Rwanda-based 3Ts producer and exporter to support the expansion of the Company's trading activities in the Republic of Rwanda. The Agreement establishes a framework for sourcing and supplying tin, tantalum, and tungsten concentrates from Rwanda and is expected to provide additional feedstock volumes for Aterian's growing trading operations. The Agreement represents a further step in Aterian's strategy to build a scalable, cash-generative critical minerals trading platform alongside its exploration and development portfolio across Africa. Management believes the expansion of the trading business has the potential to become an increasingly important contributor to shareholder value as trading volumes continue to grow.
Celsius Resources 0.325p £9.9m (CLA.L)
The exploration and development company announced that its wholly owned subsidiary, Tambuli Mining Company, Inc. has appointed Dr Attilenore "Nene" Manero - as Interim Chair and President; and intends to appoint Mr Peter Hume as Technical Advisor upon finalisation of applicable regulatory and administrative requirements. Tambuli is focused on progressing the Sagay Copper Project, which is located in the north-eastern part of Negros Island, within the Province of Negros Occidental, Philippines. The appointments will enable Celsius to retain critical in-country expertise and experience, and support the longer-term strategy of progressing the development of the Sagay Copper Project. Celsius' primary focus remains on the development of the MCB Copper-Gold Project.
Cindrigo Holdings 5.25p £17.4m (CINH.L)
The renewable energy company announced the completion of the subsurface analysis and reservoir modelling for the Eich Hamm geothermal licence area in Germany completed by GeoDa Consulting d.o.o., assessing the potential for heat and electricity generation and lithium extraction. Eich is the first of three German geothermal licenses that are being developed in the well-established Upper Rhine Valley through the project entity, ZGG GmbH. Results of initial Monte Carlo simulation indicate an estimated exploitable energy potential of 157.8 megawatts, representing a 50% increase on the estimate previously communicated, together with potential production of 7,230 tonnes per annum of lithium carbonate equivalent. Full development of Eich is currently envisaged through three geothermal well doublets. A subsurface analysis study for Eich was conducted by GeoDa Consulting d.o.o.
Crimson Tide 92.5p £6.1m (TIDE.L)
The provider of the mpro5 operational compliance platform, updated on two new commercial developments with Sim Trava LTD and DW Baking LTD, further demonstrating the growing commercial momentum across the business. Sim Trava, the operator of approximately 80 Costa Coffee stores in the UK, has commenced a one year trial of mpro5 across its estate, with the platform being integrated into its task management and compliance workflows. The deployment of mpro5 will digitise ways of working and provide real-time visibility across all locations, enabling Sim Trava's teams to maintain standards and respond effectively across the business. Crimson Tide has also secured a new contract with DW Baking, a food manufacturing business, to deploy mpro5 across quality inspection and daily task management workflows. The initial trial will cover five quality technicians at a single site, focused on quality inspections and daily tasks. Subject to successful delivery, there is a clear path to roll out mpro5 across all of DW Baking's facilities, encompassing quality, packing, food safety, incident capture and Hazard Analysis and Critical Control Point processes.
LBG Media 27p £56.5m (LBG.L)
The social entertainment powerhouse with a focus on young adults, announces half-year results for the six months ended 31 March 2026. Group revenues were up 19% to £52.4m (1H25: £43.9m), driven by Direct revenues, which grew 95% to £37.6m (1H25: £19.3m). Indirect revenues declined 41% to £14.5m (1H25: £24.5m). Strong Direct revenue growth meant that Direct accounted for 72% of Group revenues, up from 44% at 1H25, in line with the strategy to increase the weighting to this higher visibility business line. Direct revenues benefited from strong momentum in the UK and an increasing share of wallet and growth in the U.S., which is becoming materially more important for the Group. The company has a strong balance sheet with net cash of £28.4m, supporting organic investment and acquisitions where the company sees a compelling strategic fit. The company raised revenue guidance and lowered Adjusted EBITDA guidance, to £110m and £22m respectively as a result of higher Direct growth and a continued decline in Indirect revenues.
MJ Gleeson 229.75p £134m (GLE.L)
As previously reported, the company has communicated that Gleeson Land has been extensively engaged in the sale of a site accounting for approximately 50% of the total forecast plots to be sold in FY2026. While significant progress has been made, the transaction is now unlikely to complete in the current financial year. The majority of conditions required to achieve formal technical approval have been agreed, and the Group expects to conclude the remaining conditions soon, with completion now anticipated during the first half of the new financial year. The Board notes recent commentary regarding national housebuilders reviewing their land-buying strategies in light of the current market environment. Delays in their decision-making and land acquisitions will likely impact the timing of two smaller transactions originally expected to complete in FY2026; these are also now expected to conclude in the first half of FY2027. However, the company continues to expect the sale of one further site in June 2026. Notwithstanding these timing differences, the Group is encouraged that demand remains solid for high-quality sites. The impact of these Gleeson Land transactions being deferred into FY2027 is expected to result in Adjusted Group PBT for the year being approximately £7.5m lower than current market expectations.
Time Finance 46p £42.2m (TIME.L)
The specialist finance provider, updated on its lending book. The Group's previously announced robust performance in the first three quarters of the current financial year has been maintained throughout the quarter ending 31 May 2026, with continued demand from UK businesses for the Group's multi-product funding offering. This has led to the Gross Lending book, which stood at £217m at 31 May 2025, now reaching £250m, an all-time high record level. This is the 20th consecutive quarter of loan book growth for the Group. As such, the Group looks to deliver on its stated strategic plan, which is targeting a £300m plus lending book by 31 May 2028. The Group is planning to publish a full year FY 2025/26 Trading Update on Thursday 25 June 2026.
Vianet Group 69.5p £19.8m (VNET.L)
The international provider of actionable data, business insights and payment solutions reports on FY March 2026. Revenue increased 1.5% to £15.5m of which recurring revenue is £13.6m, an increase of 3.3% on the prior year. The gross profit margin was maintained at 68% to produce a 2.1% increase in EBITDA to £4.22m although the PBT however narrowed to £0.832k from £0.929k. The year end net cash was £0.44m compared to a debt of £0.38m allowing for an 85% increase in FY dividend to 2.4p. The Vianet Americas losses reduced to £243k from losses of £385k, reflecting improving commercial traction following the significant long-term enterprise agreement with a major US full-service restaurant operator. There is continued expansion across the unattended retail, premium coffee and fuel forecourt verticals. The Group maintained its strong footprint in the UK vending and unattended retail market. Advanced AI and data warehouse initiatives are underway supporting improved operational efficiency and future product innovation. The hospitality business now occupies a stronger strategic position than at any point in the Group's history. The integration of Beverage Metrics, combined with the analytics and draught management capability, has created a differentiated platform that is generating increasing engagement from large operators in both the UK and the US. The management team has also been reorganised for the next phase of growth.
Zephyr Energy 3.05p £64.1m (ZPHR.L)
The Oil and Gas company updated on activity in the Paradox Basin, Utah, U.S., including the successful completion of the gas pipeline in-line inspection process. This allows for the formal commencement of the regulatory approval process required to ship gas on the publicly regulated pipeline connected to Zephyr's leaseholding in the Paradox project. Further to the Company's announcement on 24 March 2026, a team under the supervision of Enbridge Inc. (the owner and operator of the pipeline that will export gas from the Paradox project) completed a detailed technical evaluation of the results from the ILI on the 20.9 miles of pipeline running from Zephyr's Powerline Road Gas Plant to the Northwest Pipeline operated by Williams Companies, Inc. Analysis of the ILI results confirmed that the pipeline is structurally sound at the current system operating pressure, with no repairs required and no immediate integrity concerns. To ensure integrity at the uprated operating pressure required to export Zephyr's gas to the Northwest Pipeline, four short sections of pipeline (totalling 25 feet in length) have been identified for visual inspection. Enbridge views such inspections as routine and are not considered a risk to achieving first gas export, even if any section should require a repair.
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