* 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: None
What’s baking in the oven?
Potential IPOs:***
9 April: The National Investment Fund of the Republic of Uzbekistan (UzNIF) announced that it is considering proceeding with an IPO in the form of ordinary shares and Global Depositary Receipts. UzNIF is considering applying for Admission of its ordinary shares to trading on the Tashkent Stock Exchange and for Admission of its GDRs to the LSE Main Market. 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. Any additional details in relation to the Offering would be disclosed in further announcements and in the Prospectus, if and when published.
8 April: Rift Helium intends to IPO onto AIM late April. Rift is a helium exploration and development company currently focused on the exploration of a discovery-ready, non-hydrocarbon associated helium bearing acreage at its early-stage Upepo Project, located in southwestern Tanzania, within the Rukwa Rift - forming part of the East Africa Rift System (the "Upepo Project"). The Upepo Project comprises three prospecting licences over 283 km2 in the Rukwa Basin, near to existing helium projects operated by Helium One Global Ltd (AIM: HE1) ("Helium One") and Noble Helium Limited (ASX: NHE) ("Noble Helium"). The Company is raising £8.0m.
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-April.
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.
Market Movers:***
1st April: Oscillate (AQSE: SRVL), the Company focused on building an independent copper and future metals developer, announced that further to the announcement on 9 February of the conditional acquisition of Kalahari Copper, it has conditionally completed an equity fundraising of £2.9m and plans to move to AIM from AQSE. Net proceeds of the Fundraising will allow for the advancement of the Company's proposed exploration assets in Namibia and Botswana. In addition, the Company will change its name to Serval Resources. Admission to AIM is expected to occur on 27 April.
Banquet Buffet****
Andrada Mining Limited 3.45p £68.05m (ATM.L)
The tin producer with a portfolio of critical minerals mining and exploration assets in Namibia announced the initial results of its ore sorting testwork undertaken at the Brandberg West project. There was grade uplift across all nine samples including the tungsten grade increase from 0.24% to 1.45%, copper grades increased from 0.73% to 2.81% and tin grades increased from 0.31% to 2.09%. The CEO believes these results represent an important validation milestone in highlighting the economic potential of tungsten as a key critical metal at the Brandberg West project, particularly against a backdrop of exceptionally strong commodity prices
Arecor Therapeutics 64.5p £24.35m (AREC.L)
The clinical-stage biotech Company developing superior therapeutics for diabetes, obesity and other cardiometabolic diseases reports Finals for FY December 2025. Total revenue, including discontinued operations is £3.1m compared to £5.1m for FY 2024. The reduction is due to the cessation of operations at Tetris Pharma. The PBT is £0.99m compared to a loss of £5.10mf or FY 2024, with net cash of £6.1m against £3.2m. The lead product AT278, the disruptive ultra-concentrated, ultra-rapid-acting (500U/mL) insulin designed has advanced across both product development and commercial partnering. Post year end, Arecor and Sequel have confirmed their strategic intent to enter a broader, co-development and commercialisation partnership. The focus for the Board is to secure the best possible deal to take AT278 into Phase 2 in 2H 2026 and to advance the oral peptide delivery platform.
Calnex Solutions 53.50p £42.68m (CLX.L)
The provider of test and measurement solutions for global telecommunications, cloud computing & datacentres, and government & defence markets provided an update on trading for the year ended 31 March 2026 and the outlook for FY27 and FY28. For FY26, Calnex trading slightly ahead of market expectations, delivering double-digit revenue growth and improved profitability, while continuing to invest in its long-term strategy. The Group expects revenue to have increased by approximately 19% to £21.9m (FY25: £18.4m). Gross margins have remained strong, which has contributed to an improvement in profitability for the year. The Group maintained a strong balance sheet, with cash as at 31 March 2026 of £9.3m (31 March 2025: £10.9m). The Company expects to announce its audited results for FY26 on 26 May 2026.
Cambridge Cognition Holdings 38.50p £18.19m (COG.L)
The neuroscience technology Company announced its results for the period ending 31 December 2025. Revenues of c.£9.4m down 10% (2024: £10.3m), Adjusted EBITDA loss of £0.5m (2024: loss £43k) and Cash of £1.1m (June 2025: £0.4m, December 2024 £1.3m). The Company reduced borrowing to £0.9m (December 2024: £1.9m), resulting in a net cash position of c.£0.3m (December 2024: net debt £0.6m). The Company expects to deliver 2026 revenue of £9.5m, supported by the current Order Book and revenue recognised to date. This is an increase from the £8.8m expected at 31 December 2025.
Cordel Group 5.50p £11.39m (CRDL.L)
The Artificial Intelligence platform for transport corridor analytics announced a new contract, building on the partnership with Transport for London (TfL). On 24 September 2025, Cordel announced a partnership with TfL to digitise infrastructure monitoring for greater efficiency. Data was captured along the Central Line via a Cordel LiDAR unit installed on a London Underground train, automatically uploading to Cordel's AI software. Cordel delivered track and structure gauging throughout, plus ballast profiling and vegetation volume measurement in the substantial above-ground areas. TfL's new contract with Cordel expands coverage to the District Line via a new Cordel LiDAR installation on a London Underground engineering vehicle.
Insig AI 18.25p £21.87m (INSG.L)
The provider of AI-led analytics and machine-learning solutions announced the launch of its Central Bank Model Context Protocol (MCP) server. This will enable traders, portfolio managers and investment decision makers to directly interrogate what the Company believes is the world's most extensive machine-readable central bank datasets through any major Large Language Model. This provides almost instant decision-making prompts and trading signals by collapsing what previously required days of analyst research into real-time, on-demand insight, giving alpha generators a decisive information edge in an increasingly policy-driven market.
Journeo 415.00p £73.35m (JNEO.L)
The provider of intelligent systems for transport networks and critical national infrastructure announced £1.7m of purchase orders for the supply, installation and maintenance of passenger information displays and associated bus stop infrastructure, including eco-friendly bus shelter technology, for a large local authority in the South of England. Display technology will include Journeo's latest ultra-low power displays that use a combination of batteries and solar panels to harvest energy from renewable sources to achieve complete off-grid operation.
Marks Electrical Group 49.00p £49.85m (MRK.L)
The online electrical retailer provided a further update following the Company's Pre-Close Trading Update issued on 26 March 2026, ahead of its unaudited final results for the year ended 31 March 2026 (FY26), which are expected to be published in June. As previously announced, the Group expects to deliver full year revenue of £108.5m. Following a stronger than anticipated end to the year, unaudited adjusted EBITDA was £2.65m and net cash was £4.45m at year end, both ahead of the range previously indicated. The Group enters FY27 with positive trading momentum and a strengthened cash position. Building on the progress made during FY26, the Board expects sustainable growth in both revenue and profitability in FY27 as the benefits of its disciplined focus on margin and operational efficiency continue to be realised.
Mothercare 1.19p £5.9m (MTC.L)
The specialist global brand for parents and young children issued a pre-close trading update for the 52-week period to 28 March 2026 (FY26). Comparatives are based on the 52-week period to 29 March 2025. This update is based upon draft figures pending finalisation of the year end audit. Unaudited worldwide retail sales by franchise partners were £180m for the year, representing a decline of 22% on last year (19% down at constant currency). Adjusted EBITDA for FY26 was approximately £1.25m and Net borrowings £5.7m at the year-end (March 2025: £3.7m). The Pension scheme deficit remains at £35m as at 31 December 2025, which is the latest available estimate (March 2025: £35m) on a technical provisions basis.
SysGroup 13.50p £11.30m (SYS.L)
The partner for cloud, cybersecurity, and AI enablement, delivering end to end solutions at the intersection of cybersecurity and digital transformation for the UK mid-market updates on Trading for the FY March 2026. Revenue increased by 7.6% to £22.1m. Revenue in H2 increased by 17.2% compared to 2025, including £1.1m from the acquisition which completed in December 2025. On an organic basis, H2 revenue grew by 7.0% year on year. An EBITDA of £1.2m for FY26 is expected compared to £0.9m for FY25 and is ahead of current market expectations. The Group’s net cash is £2.7m against £3.6m in FY25, after paying acquisition costs. H2 has started to benefit from the effect of a number of operational and strategic changes, including the increased use of AI across the go-to-market and service delivery activities.
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