AQUIS STOCK EXCHANGE
Connecting Excellence (XCE) has signed heads of terms for its first recruitment company acquisition at an initial cost of £575,000. The company is focused on engineering and construction recruitment in the UK and US. It generated revenues of £1.79m and EBITDA of £431,000 in the 12 months to June 2026. The deal includes 8.216 Bitcoin which will be acquired at market value. Further consideration could be payable depending on performance. The existing recruitment business generated full year revenues of £1.84m, up from £1.52m last year. Total group revenues were £2.16m. The company has 72.94 Bitcoin with a value of £4.2m.
Brewer Adnams (ADB) reported a fall in interim revenues from £30.1m to £27.4m. The loss was reduced from £1.47m to £1.42m. The Ghost Ship brand continues to outperform the market. National wholesale beer sales are disappointing, though. This was partly due to the sale of tenanted pubs. Trading in pubs and hotels were below expectations. The World Cup led to an improvement in July.
SuperSeed Capital Ltd (WWW) NAV increased by 10p/share to 143p/share in the quarter to June 2026.
Rise Investments increased its stake in B HODL (HODL) from 9.68% to 10.1%. B HODL raised £48,275 at an average price of 8.06p/share. One Bitcoin was acquired for £57,680.15. The total holding is 167.487 Bitcoin. A third at the market equity offering has been launched.
Sterling Digital (ASIC) has recorded its first verified Bitcoin mining output. The commissioning process is ongoing.
Tomahawk Metals (TMHK) says assay results from sampling of the Saturn gold project in Western Australia. There are high-grade surface results that indicate the potential for the project. The next phase of exploration will focus on systematic mapping and sampling to refine the drill targets.
Wishbone Gold (WSBN) has registered a new large tenement area 10km south east of the Havieron gold copper mine.
Alvar Financial Services has reduced its Gledhow Investments (GDH) stake from 4.64% to 2.95%.
Valereum (VLRM) chief executive Gary Cottle has bought 337.635 shares at 3.54p each. That takes his stake to 3.56%.
ASSET MATCH
Marshall of Cambridge (MCH) has entered into an agreement to sell its UK aerospace business to private equity investor Aurelis. The deal should complete by the end of September. The US aerospace business will be sold separately. The share auction planned for 8 September has been deferred.
AIM
Rent guarantees provider RentGuarantor (RGG) has released another positive trading statement leading to a further forecast upgrade. Revenues in the eight months to August 2026 were 472% higher at £8.45m. That includes £3.17m generated in August. The average contract level has increased. Cash was £7.5m at the end of August 2026 and the commencement of dividends is possible. Management targets a full year pre-tax profit of £4m and that could double next year.
Education software and services provider Tribal Group (TRB) reports a rise in interim revenues from £45.3m to £48.9m, while pre-exceptional profit declined from £6.2m to £5.6m partly due to higher amortisation of past development costs. Net cash was £600,000 at the end of June 2026. Full year results should be comfortably in line with forecasts. Underlying pre-tax profit of £12.9m is forecast.
Chariot (CHAR) is supporting Etu Energias in its acquisition of Chevron’s 31% operated interest in Block 14 and 15.5% of Block 14K, offshore Angola. This provides exposure to 4,000 barrels of oil equivalent per day. At $70/barrel for Chariot’s total net production, Cavendish has updated the target share price to 8.3p. Malcolm MacLean has a 5.36% interest.
Floorcoverings supplier Victoria (VCP) says restructuring the business will improve efficiency. Management says that it will assess opportunities from the administration of UK floorcoverings distributor Headlam. There is no exposure to bad debts. Outside of the UK, trading is difficult. The refinancing of 2028 bonds could be completed by the end of the year.
Orcadian Energy (ORCA) is progressing the development of the Earlham and Orwell gas discoveries in the southern North Sea, which will supply an offshore data centre. The company has a joint development agreement with a US offshore data centre infrastructure developer. There will be a due diligence process prior to any development agreement. Zeus puts a risked value of 24p/share on the development and total risked NAV estimate for Orcadian Energy is 108p/share.
Cybersecurity services provider Corero Network Security (CNS) has gained two significant new customers. There is a $3.4m, five-year contract with a leading UK telecoms company. There is also a three-year contract worth $500,000 with a NeoCloud provider that covers two data centres. This could be extended to other data centres operated by the client.
Bricks maker Michelmersh Brick (MBH) maintained its interim dividend at 1.6p/share even though first half profit has dipped and full year expectations have been cut. In the six months to June 2026, revenues fell 9% to £32.4m, but that was relatively good considering the weak construction market. Underlying pre-tax profit was 14% lower at £3.73m, as interest costs rose due to higher inventory levels.
Fiinu (BANK) has changed to its agreement with Manx Financial (MFX) subsidiary Conister Bank concerning the implementation of the Plugin overdraft. Proof of concept launch is expected at the end of the year. Talks continue with potential overseas partners. Manx Financial also announced a first half update showing strong operational growth. The core loan book grew steadily in the second quarter. Manx Financial is talking to the Irish regulator about a consumer credit lice that will allow it to move into the EU lending market.
Kazera Global (KZG) subsidiary Whale Head Minerals has been granted a mining right over sea concession 2A in South Africa. This triggers a $1.75m from partner South Africa AT Investments, which will extend operations to 2A. It is expected to announce an overall mine plan in the next few weeks. Plant is due to arrive in November. Commercial production is expected in the first quarter of 2027. A settlement has been reached with Fujax under prepayment arrangements. The total payable is $1m in shares and cash over five monthly payments. A fundraising is expected to generate at least £500,000.
LiDAR wind sensors developer Windar Photonics (WPHO) shares returned from suspension down 77.7% to 5.92p. This follows the oversubscribed retail offer that raised £245,000 at 5p/share, taking the total fundraising to £5.12m. The exercise price of the warrants held by GEM has been reduced. The audit of the 2025 accounts was finally completed at the end of August. The delay was due to accounting irregularities, which led to changes in revenue recognition
Foreign exchange services provider Finseta (FIN) says that first half revenues fell from £5.9m to £5.4m. It puts the blame on the conflict in the Middle East. Although Middle East revenues have risen, Finseta has been putting in place a cost base assuming much higher revenues. The poor economic climate has also hit income. Net cash was £400,000 at the end of June 2026. Second half revenues are expected to be similar to the first half and a 2026 loss of £2.6m is forecast.
Premier African Minerals (PREM) has sent a circular for a general meeting to gain shareholder approval for management to issue shares and disapply pre-emption rights. Management forecasts a requirement for $19.1m up until the end of 2027. The general meeting would provide the ability to raise around $12.7m at a share price of 0.016p. This would not be raised in one go. There will also be a ten-for-one share consolidation.
Futura Medical (FUM) has raised £1.6m at 0.2p/share and launched a formal sales process. A retail offer could raise up to £150,000 more. This should provide enough cash to get to February 2027 giving the company time to assess approaches for the business and/or assets. The board believes that the company is undervalued. WSD4000, which is a gel designed to treat impaired sexual response in women, has strong potential. Male erectile dysfunction product Eroxon is showing signs of improved sales.
Engage XR (EXR) has run into financial difficulties following the loss of a major customer and the board has decided to go ahead with liquidation of the company.
MAIN MARKET
Seraphim Space Investment Trust (SSIT) has also launched the Seraphim New Space UCITS ETF, which will track the Seraphim New Space Index. This is listed on the London Stock Exchange (LSE: SPCE), Deutsche Börse Xetra (SERA) and Borsa Italiana (SERA).
Trading in Milton Capital (MII) shares has been suspended ahead of the proposed acquisition of Apostrophy AG, which develops data privacy and cyber security products. There is an exclusivity agreement until the end of November.
