* 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:
Oscillate (to be renamed Serval Resources Plc) (SRVL.L) announced the completion of the acquisition of Kalahari Copper and the Admission to trading to AIM. The Company’s Ordinary Shares have ceased trading on AQSE. Admission follows an equity fundraise and retail offer, raising a total of ca. £2.96m (ca. US$4.0m) at a price of 22.5p. The acquisition of Kalahari Copper establishes the Company as a large landholder in two emerging copper belts, subject to licence renewal: the Kaoko Basin in Namibia and the Kalahari Copper Belt in Botswana, both of which are under-explored in comparison to their prospectivity. The Acquisition thereby gives the Company the opportunity to explore extensive areas of highly prospective terrain in emerging exploration districts, adjacent to significant recent discoveries, in line with its ambition to become a mid-cap copper and future metals development group.
Delistings:
None
What’s baking in the oven?
Potential IPOs:***
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. 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. Further information about the International Offering and the Tashkent Offering, will be provided before the start of book-building in further announcements.
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.
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.
Reverse Transactions:***
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 which will become effective on 11 May 2026.
Market Movers:***
15th April: Rosebank Industries (ROSE.L) will move from AIM to the equity shares (commercial companies) (ESCC) category of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange on 1 May 2026. The last day of trading on AIM is therefore expected to be 30 April. Rosebank does not intend to raise any funds or offer any new Ordinary Shares in connection with Admission. The Company anticipates inclusion in the next Quarterly Review of the FTSE 250 Index, although inclusion remains subject to review by FTSE Russell.
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.
20th February: Wildcat Petroleum (WCAT.L) announced its plans to cancel its Main Market listing and move to the Aquis Growth Market. In parallel with the proposed cancellation, the Board intends to pursue opportunities in the gold sector, with a view to developing the Company as an African-based gold processing business. Timing TBC.
Banquet Buffet****
Anpario 500.00p £98.35m (ANP.L)
The independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity announced its intention to commence a share buyback programme with an aggregate value of up to £3m. As referenced in the Company's final results for the year ended 31 December 2025, announced on 31 March 2026, the Company had a cash position of approximately £12.4m. The Board considers that the Company's strong balance sheet and cash generation provides the opportunity to take advantage of current market conditions to repurchase shares at attractive levels and the Programme reflects continued confidence in the Company's future prospects.
AOTI Inc. 51.50p £45.20m (AOTI.L)
The medical technology Company focused on delivering outcomes-based care at home, by more durable healing of wounds and the prevention of amputations, announced findings from a large newly published multicentre retrospective cohort study in the Journal of Vascular Surgery-Vascular Insights evaluating the effectiveness of Topical Wound Oxygen (TWO2) therapy in the treatment of chronic lower extremity wounds. The study demonstrated a high rate of complete durable healing utilising AOTI's intermittent TWO2 therapy as an adjunct to standard of care in hard-to-heal wounds that had failed to heal with other advanced wound care for an average of 7 months. It encompassed 3,126 patients with broad wound types, including diabetic foot ulcers, venous leg ulcers, arterial ulcers and atypical wounds.
Christie Group 150.00p £31.83m (CTG.L)
The provider of Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS) to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, announced its audited preliminary results for the 12 months ended 31 December. There was 19.2% growth in revenue to £70.6m (2024: £59.2m) which was ahead of Board expectations. A 95.5% increase in operating profit from continuing operations to £6.9m (2024: £3.5m) and profit before tax from continuing operations of £6.0m (2024: £2.6m). Net funds position increased to £9.4m (2024: £4.9m) and the final dividend increased by 57% to 2.75p (2024: 1.75p) per share to give total in year of 3.50p (2024: 2.25p).
Clean Power Hydrogen 11.00p £50.20m (CPH2.L)
The developer of market disrupting and IP-protected Membrane-Free Electrolyser technology has entered into a non-binding Memorandum of Understanding with ABE GRUPPE GmbH (ABE) a subsidiary of BKW Infra Services Europa SE (BKW) to explore the sale and integration of CPH2's unique technology across its market activities. ABE is an integrated service provider in the field of renewable energy and energy infrastructure, covering the full value chain of energy projects. The companies will use their combined skills and capabilities in developing opportunities across ABEs and BKWs markets for CPH2s patent protected technology.
Europa Oil & Gas (Holdings) 1.60p £21.72m (EOG.L)
The West Africa, UK and Ireland focused oil and gas exploration, development and production Company, notes the decision of the North Yorkshire Council (NYC) planning committee at its meeting on 24th April that it is minded not to approve the Company's plan for a well in Burniston on its Cloughton prospect, despite the positive recommendation from the Council's planning department that the operation should proceed. A final recommendation is pending a decision by the Secretary of State over the need for an environmental screening assessment to be carried out relating to the proposal, despite the Company having already opted to voluntarily complete and submit an environmental screening assessment as part of the planning application. The Company is confident that on appeal the planning permission will be approved.
First Development Resources 2.55p £3.41m (FDR.L)
The Australia-focused exploration Company announced that it has received formal Notice of Authority to Commence Mining Activities at the Lander West gold target, part of its 100%-owned Selta Project in the Northern Territory, Australia. This approval represents a key regulatory milestone and enables the Company to proceed with the commencement of mining activities, specifically Reverse Circulation (RC) drilling at the Lander West gold Target in accordance with the approved environmental and operational conditions.
With all necessary approvals now secured, FDR can proceed with drilling at Lander West - a critical step in advancing the Selta Project and unlocking its gold potential. The commencement of drilling will mark the Company's first material move into active exploration on the ground at Selta, with results expected to drive news flow and project momentum.
Gana Media Group 0.21p £33.70m (GANA.L)
The owner of Estadio Deportes reports a strategic partnership with Vor Interactive a provider of AI-powered marketing and content solutions for the iGaming and sports industry. The partnership forms part of Gana's broader strategy to build a vertically integrated sports media and gaming ecosystem, combining content, distribution, and monetisation within a single platform. The agreement will see Estadio Deportes integrate Vor's product across its media platforms to enhance user engagement and drive traffic to Estadio Gana's betting operation in Mexico and is expected to drive audience growth and monetisation. The focus is on increasing engagement and embracing AI and expanding into Mexico, which the CEO reports, is an opportunity for further growth.
Ingenta 98.00p £15.60m (ING.L)
The software and services provider to the publishing and media industries reports finals for December 2025. Revenue marginally increased to £10.3m from £10.2m, with the ARR increasing to 89% from 87%. The net profits increased to £1.7m from £1.3m, in the prior year, but for an adjusted EPS of 10.2p compared to 11.7p. The full year dividend is being increased 10% 4.5p. There is a debt free balance sheet with cash balances at £4.7m compared to £3.6m in the prior year. New sales and expansions of existing customer relationships are reported in both Content and Commercial divisions. There is an important win with a major US educational establishment which will add to revenues in the current year and beyond.
Pathos Communications 29.50p £19.67m (NEWS.L)
The PR technology business announced an update on the Company's proprietary AI platform development, alongside the appointment of Scott Feltham as Chief Technology Officer. Initial testing of Pressella (Pathos's AI 'virtual publicist') indicates that it has at least approximately 5x the success rate of human colleagues in sales development activities. Mr Feltham, who will be driving the technology towards general availability in the next 6-12 months, has over 20 years' experience as a technology operator, leading and delivering projects for HMRC, as well as AI projects backed by Microsoft, SoftBank, and other industry leaders.
Shield Therapeutics 8.85p £94.56m (STX.L)
The commercial-stage pharmaceutical Company specialising in iron deficiency announces that its partner, MEDLEAP Pharma, a subsidiary of Vital KSK Holdings Inc. has confirmed its first patient enrolment for the Phase II clinical trial for ACCRUFeR (ferric maltol), a new drug candidate for Pulmonary Arterial Hypertension, for patients in Japan. The Japanese clinical program for ACCRUFeR is a meaningful step forward as an exploratory study intended to support a planned Phase III trial. The CEO is confident in the potential of ACCRUFeR to make a real difference in this new exciting therapeutic area.
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