* 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.
Dish of the day
Admissions: None
Delistings:
Essentially Group (AQSE:ESSN) has left AQSE
Dewhurst Group (DWHT.L) has left AIM
What’s baking in the oven?
Potential** Initial Public Offerings:***
8th September: Project Glow Topco Limited, the ultimate holding company of The Beauty Tech Group Limited, a global leader in the rapidly growing at-home beauty technology market, announced that it is considering an IPO onto the Main market. The Beauty Tech Group encompasses three distinct, innovative and premium beauty technology brands - CurrentBody Skin, ZIIP Beauty and Tria Laser - under which it develops, manufactures and retails at-home beauty devices. In FY24, the Group reported revenue of £101.1m and adjusted EBITDA of £22.9m. Between the financial period for the 16 months ended 31 January 2023 (FY22) and FY24, the Group's own-brand revenue and adjusted EBITDA grew at a compound annual growth rate of 73.6% and 92.9% respectively. Timing and deal details TBC.
12th August: B HODL has announced its application for Admission to the AQSE growth market. The Company is focused on generating low-risk, sustainable revenue through operational activities focused on the acquisition, accumulation, and management of Bitcoin. The Company’s initial business model centres around the operation of Lightning Network nodes, which generate revenue by charging fees for routing Bitcoin transactions. By leveraging the scalability and efficiency of the Lightning Network, B HODL aims to capitalise on transaction fee income and provide inbound liquidity to other Lightning node operators as its first lines of business. The expected Admission date is on TBC.
Market Movers
8th September: Pan African Resources (PAF.L) announced its intention to move from AIM to the Main market. The Company is currently progressing workstreams to facilitate the Admission, is expected to occur prior to 31 December 2025.
8th September: Richmond Hill Resources (AQSE: SHNJ), announced its intention to move from AQSE to AIM. Deal details TBC and admission expected late September 2025.
Bango 97.5p £74.9m (BGO.L)
The company offering a mobile internet payment platform announced a new partnership with DISH TV, a significant player in the US telco landscape, and its streaming TV brand, Sling TV. DISH and Sling are using Bango’s subscription platform Digital Vending Machine to launch and scale new subscription offerings and bundles for their customers. Launching with a popular football streaming service in time for the new season, DISH customers will be able to easily add this service, with the cost charged to their monthly DISH bill. This marks an expansion in DISH's broader effort to bundle and sell an array of subscription services for DISH and Sling through the Bango DVM.
Brave Bison Group 71.5p £67.4m (BBSN.L)
The marketing and technology partner for global brands, has announced that it has acquired the entire issued share capital of MTM London Limited for an initial cash-and-share consideration of £6m. MTM is a strategy and insights consultancy working with global technology and media companies such as Google, Figma, Samsung and Spotify. The Initial cash consideration is £5m and initial share consideration of £1m. Further cash and share consideration of up to £6m payable over 5 years and is self-funding, subject to continuing employment and business performance.
Centaur Media 40.5p £59.7m (CAU.L)
The UK-based company that provides business information, data, events, learning/training, and specialist consultancy announces that the Group has signed a sale and purchase agreement with Lighthouse Bidco Limited (the parent company of Legal Benchmarking Limited) for the sale of Thelawyer.com Limited, being the operating company of The Lawyer for an enterprise value of £43m. On receipt of the net proceeds from the Transaction, the Board intends to consult shareholders on the approach to return cash to shareholders. As at the close of business on 9 September 2025, the Group had net cash of £24.5m.
Defence Holding 1.375p £26.8m (ALRT.L)
The UK's first listed software-led defence company, announces the launch of its first sovereign AI product build, Project Ixian. Project Ixian is the first in a growing portfolio of sovereign AI-enabled applications under Defence Technologies and targets information operations, one of the most urgent and contested domains in modern defence. Information operations encompass the control, distortion, or denial of information as a means to destabilise societies, undermine institutions, and paralyse adversaries. They span disinformation, cyber activity, narrative manipulation, and digital sabotage, and have been identified in the UK Strategic Defence Review 2025 as a critical threat vector requiring urgent sovereign capability.
Haydale Graphene Industries 0.6p £25.9m (HAYD.L)
The advanced materials group announces a strategic collaboration with Interfloor Limited, which is Europe's largest manufacturer of carpet underlay and flooring accessories, to integrate JustHeat heater inserts into Interfloor's flooring systems, creating a new category of ready-to-install solutions. This agreement with Interfloor, combined with recent product shipments, the addition of new channel partners, and the successful delivery of a 70% cost reduction, highlights Haydale's transition from certification to early commercialisation and provides the platform to scale revenues in FY26.
Hemogenyx Pharmaceuticals 862p £45.6m (HEMO.L)
The clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune diseases today announced that the Company has been invited to participate and present at the upcoming DCNY Summit, taking place in Washington, DC on 18 September 2025 and in New York on 22 September 2025. The DCNY Summit is co-hosted by the Alliance Indus Foundation, together with Congressional leaders, the Embassy of India, Saudi Vision Invest, and other international partners, and is designed as a high-level forum connecting Washington, DC and New York to bring together policymakers, investors, corporate leaders, and innovators.
Metir 1.3p £4m (MET.L)
The global provider of mobile and point-of-use water and environmental testing technology, announces that it has signed a new contract with Aptamer Group plc to develop Optimer binders for the rapid detection of Cryptosporidium parvum oocysts. Further to the Group's announcement on 14 June 2024 regarding new product development for pathogen detection in water with Aptamer Group plc, this agreement covers the creation of novel, high-affinity binders for integration into Metir's real-time Pathogen Detector platform. The platform is designed to provide continuous monitoring and early warnings of Cryptosporidium and virus contamination in water with positive responses in minutes, which would usually take several days in a laboratory. The Pathogen Detector platform complements the Group's broad suite of Modern Water's Microtox reagents and instruments, and Microsaic Systems' mini mass spectrometer technologies.
Rockfire Resources 0.285p £17.5m (ROCK.L)
The base metal, critical mineral and precious metal exploration company, confirms that diamond drilling to upgrade the resource at the company's 100%-owned Molaoi zinc deposit in Greece will commence on Monday 15th September. The drilling rig has arrived on site and will be positioned on the pad over the weekend in preparation for drilling on Monday 15th September, with 30 drill holes planned with depths varying from 200m to 450m.
Tavistock 5.75p £25.35m (TAVI.L)
The specialist wealth and asset management company makes a strategic acquisition as it refocuses on retail investors. The acquisition of 76.59% of Lifetime for an initial cash consideration of £3.7m plus £2.25m in cash for both debt reduction and strategic leadership incentives as the founder remains in the business with 23.41%. Lifetime has established a proven, hybrid financial advisory model that breaks down the traditional barriers to both financial advice and wealth creation, which will enable Tavistock to provide its services in a highly cost-effective manner. The digital-first platform makes appropriate and significant use of technology and AI, but only in support of qualified professionals and always with a human in the loop.
Zinc Media 66.5p £16.4m (ZIN.L)
The television and content production group, reports results for the six months to June 2025. Record H1 revenue of £22.9m (H1 2024: £13.3m) from continuing operations with H1 Adjusted Profit Before Tax of £0.2m for first time in half year, (H1 2024: loss of £1.3m), and cash of £4.2m at 30 June 2025 (June 2024: £4.1m and Dec 2024: £6.3m). As at 5 September 2025, revenue won and expected to be booked in FY25 is £38m, which is £7m higher than at the same point last year, with a further £4m that could be recognised in FY25 in highly advanced discussions. The company believe this puts them in an excellent position to deliver 33% revenue growth for FY25 and underpin confidence in mid-term targets of £50m revenue and £5m EBITDA.
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