* 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:
Inspirit Energy Holdings (INSP.L) left AIM
What’s baking in the oven?
Potential** Initial Public Offerings:***
24th October: Sterling Digital, the bitcoin mining business, has announced its intention to seek Admission on the Access segment of the Aquis Stock Exchange. The Company’s objective is to deliver sustainable long-term growth via compounding bitcoin exposure through cheapest-in-class mining and active management of bitcoin reserves. The Company expects to raise money and Admission is for around 28th November 2025.
10 November: Delta Gold Technologies announced its application for Admission to the AQSE growth market. The Company is developing, with an option for an exclusive license, intellectual property (IP) targeted towards the quantum computing (QC) space that can be licenced globally. This technology will be centered around the usage of nano-scale gold and other materials. Utilising the unique physical properties of certain materials which are believed to have direct and significant applications within the rapidly growing QC space. This IP will be developed with a top global nanotechnology and QC team at the University of Toronto located in Ontario, Canada, with the intention to further develop the IP, file provisional patents, and subsequently license the technology on a global basis. The University of Toronto will supply facilities and researchers to Delta and the Company plans to develop commercial licenses. Deal details TBC and expected Admission date of 1st December 2025.
Market Movers:***
25 November: KR1 (KR1.L), the digital asset technology company, today announced the Admission of its entire share capital to trading on the Main Market of the London Stock Exchange and to the Equity Shares category of the Official List of the FCA. The Company's Ordinary Shares ceased trading on the Apex segment of London's AQSE Growth Market yesterday, 24 November. Admission and dealings in the Ordinary Shares commenced at 8.00 a.m. today.
18 November: Roquefort Therapeutics (ROQ.L) proposes to change its name to Coiled Therapeutics plc. The Company will cancel the listing of its ordinary shares on the Equity Shares (Transition) category of the Official List and trading on the Main Market for listed securities of the London Stock Exchange, and make application for its ordinary share capital to be admitted to trading on the AIM market and carry out an equity placing by the issue of new ordinary shares to raise a minimum of £10.5m conditional on Admission.
19 November: All Things Considered Group (AQSE: ATC); The independent music Company which delivers representation, services and creative commercial solutions announced a conditional equity fundraising of £8.6m and subsequent move to AIM. Admission to AIM is expected to occur on or around 17 December. Net proceeds of the Fundraising will provide additional working capital and a strengthened balance sheet to continue ATC's growth strategy.
Banquet Buffet****
Autins Group 10p £5.73m (AUTG.L)
The UK and European based manufacturer of the proprietary Neptune melt-blown material and specialist in the design, manufacture, and supply of acoustic and thermal insulation solutions announces its unaudited interim results for the six months ended 30 September. Revenue in H1 2026 decreased by 12.3% to £8.59m (H1 2025: £9.79m), while the gross profit decreased by 4.6% to £2.90m (H1 2025: £3.04m). Cash was £0.09m from £1.68m in H1 2025 while group cash headroom was £1.52m. The Group has focussed on winning new business in the UK and Germany, alongside cost control and efficiency improvements. The Group's largest UK customer experienced a significant cyber incident which resulted in a complete suspension of vehicle production for the month of September. Production had not resumed by the end of the reporting period, and this disruption had a material impact on the Group's operations. Notwithstanding this, the Group continued to benefit from the delivery of its "Survive and Thrive" strategy, achieving improved gross margins, stronger EBITDA performance and a materially reduced net loss compared with the prior period.
Fulcrum Metals 6.88p £8.4m (FMET.L)
The Company focusing on the use of innovative cyanide free technology to recover precious and critical metals from mine waste announced the appointment of WSP Canada Inc., an engineering and professional services firm to advise on environmental and engineering permitting strategies, to complete a gap analysis in advancing Teck Hughes and to incorporate Sylvanite projects. The Company has also updated on its Sylvanite and Teck Hughes tailings projects following recent site visits, with new high grade from surface samples at Sylvanite of up to 2.25g/t gold (Au) to 0.7 metres, the highest surface sample on record, with the samples averaging 1.25g/t.
Intercede Group 127.50p £75.96m (IGP.L)
The specialist in digital identity, credential management, and secure mobility reports interims and new contracts. Revenue is 4% lower at £8.2m, with a 26% fall in PBT to £1.3m. The Company continues to be strongly cash generative, with cash of £17.8m compared to £16.2m. The flagship product upgrades of MyID CMS v12.15 and v12.16 were released in June and September. The new contracts and renewal orders for in Q3 FY26 report a total more than $4.2m and the focus is on converting pipeline opportunities. The Board believes it will meet current market forecasts for FY26 of revenues of £18.7m and adjusted pre-tax profits of £4.6m.
RC Fornax 6.15p £3.35m (RCFX.L)
The UK-based consultancy delivering outcome-based engineering solutions to the defence sector's most critical platforms - accredited, in-demand, and built to scale— has announced that it has secured a new UK public sector space client following a competitive tender process. The initial contract value is approximately £370k, with the Company selected as lead contractor and integrator, heading a consortium of UK and European SMEs and academic partners.
Safestay 19.00p £12.01m (SSTY.L)
The European hostel Company announced that it has exchanged conditional contracts for the sale and leaseback of its freehold property in Brighton to a private investor for a cash consideration of £3.125m. The contracts are conditional on certain approvals being obtained from the Company's bank, with completion of the sale expected before 15 January 2026. The net proceeds from the Transaction will be used to repay indebtedness, provide working capital and strengthen the Group's balance sheet. The Transaction follows the Company’s announcement on 17 June that it was considering the conditional sale of certain UK freehold assets and the recent announcement of the sale and subsequent franchising of its freehold property and hostel, Safestay Edinburgh Cowgate, for a cash consideration of £5.35m, which is due to complete on 1 December.
Supreme 159.50p £197.09m (SUP.L)
The manufacturer, supplier, and brand owner of fast-moving consumer goods, announces its unaudited results for the six-month period ended 30 September. Revenue was up 17% or £19.6m to £132.6m (H1 2025: £113.0m) - £15.4m of this growth came from the acquired businesses (Clearly Drinks, Typhoo and 1001) whilst the remaining £4.2m came from the core business. Gross profit was £38.4m (H1 2025: £34.1m), with growth of 13% owing to incremental sales volume. Adjusted EBITDA was £18.5m (H1 2025: £18.5m), a result of acquisitive and organic growth offset by a decline within the battery and lighting segments.
Sosandar 7.13p £15.99m (SOS.L)
The women's fashion brand, creating quality, trend-led products for women of all ages, has announced its financial results for the six months ended 30 September and an update on current trading. Growth in revenue was 15% year on year to £18.7m, with own site revenue increasing by 28% versus the previous year. Loss before tax was £1.1m in line with expectations and referencing the traditional second half weighting of profitability alongside the impact of own stores and M&S cyber incident. Net cash is 7.7m from 7.3m on 31 March 2025. Trading remains in line with FY26 full year expectations for both revenue and profit before tax.
Strategic Minerals 1.58p £36.41m (SML.L)
The international mineral exploration and production Company announced that its wholly owned subsidiary, Cornwall Resources Limited, has received drillhole assay results from CRD034b, including high-grades and multiple thick intersections. CRD034b was the second drill hole of the ongoing drilling campaign at the Redmoor Tungsten-Tin-Copper Project in southeast Cornwall. The Grades included a high-grade tungsten intersection: 1.10m @ 7.19% tungsten trioxide (WO3), 0.02% & 1.11% Copper (Cu) (7.51% WO3 equivalent) from 579.93m in second drill hole CRD034b which is amongst the top 10 highest-grade sample results recorded at Redmoor from all previous CRL drilling campaigns.
(The) Parkmead Group 15.00p £14.31m (PMG.L)
The independent energy Group focused on growth through gas and renewable energy projects, reported its preliminary results for the year ended 30 June 2025. Profit after tax was £7.35m, up 49% from 2024, while cash reserves increased by 39% to £13.2m. The Company successfully completed the sale of its North Sea License in April with a Near Term value created of £30m, comprising £14m in firm cash and £16m of costs covered for the Company's share of the commitment well at Skerryvore. It’s renewable energy asset, Glenskinnan, is being designed to deliver up to 98MW of wind generated electrical capacity across 14 turbines, alongside 20 MW of solar PV and 30 MW of battery storage.
Transense Technologies 117.50p £18.64m (TRT.L)
The provider of specialist sensing solutions and measurement systems updates on trading at the AGM. There is a strong performance at SAWsense, with revenues more than doubling and revenues at Translogik are broadly in line with last year. The composite rate of growth in revenue excluding Bridgestone iTrack royalty was around 20% compared with last year. The gross margins are strong at over 85% of revenue. The Group remains profitable and is cash generative, supported by disciplined cost management. Current-year market expectations are predicated on revenue growth (excluding iTrack royalty) in excess of 50% which is achievable. The Board is confident that the Company's strong positioning in robotics, electric drives, and aerospace will deliver long-term growth and shareholder value.
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