AQUIS STOCK EXCHANGE
Brewer Shepherd Neame (SHEP) is investing £15m over three years to modernise the Faversham brewery. The plan is to exit larger third-party brewing contracts. Property disposals will help to fund the investment. The Singha contract ends next April and that will reduce annual revenues by £10.3m. Like-for-like pub sales are 6.4% higher in the first 17 weeks of the financial year, while tenanted income growth is slower. Beer volumes are slightly lower. Although overall revenues will be slightly lower due to the change in strategy, but it is assumed that improved efficiency will offset that.
David Lenigas has bought 30,000 shares in energy B (NRGB) at 16.5p each, 50,000 shares at 15p each and 65,000 shares an average price of 14.1p each.
Ethtry (ETHY) has taken full ownership of McKean Natural Gas Company by buying the remaining 10% for $300,000. McKean owns deep gas rights in an area of Pennsylvania with existing pipeline infrastructure. Gas production will be used for power generation for a data centre development.
Uranium explorer Reveille Resources (REV) has been admitted to the OTCID market in the United States.
Eight Capital Partners (ECP) published interims showing revenues falling from £70,000 for £37,000. There was investment income of £1.25m, compared with a £1.19m foreign exchange gain in the corresponding period. The pre-tax profit was flat at £904,000. Net assets were £36.8m at the end of June 2026. That includes the SFE Bond valued at £33.6m.
AI-driven industrial analytics company IntelliAM AI (INT) is switching from Aquis to AIM in November and has raised £6.4m at 70p/share, including £169,000 raised in a retail offer.
Ubuntu Mining and Metals Inc (UNTU) says the management of the 25% owned Dilotiko iron ore project is advancing regulatory and other matters relating to the mining licence applications, but their issuance has been delayed. The company is reviewing other investments in the iron ore sector in Africa.
Coinsilium (COIN) investee companies are making progress. Yellow Network is increasing trading activity on the XPRL Ledger. The circulating market capitalisation is approximately $83m. AI-powered advertising and content-production platform developer BeatingHeart is on track for a public launch by early December. Wayne Almeida is switching from non-executive to executive director. He has more than two decades of experience in the Gibraltar financial services sector.
Ajax Resources (AJAX) appointed Temeraire Partners as broker. It has also issued it 1.39 million warrants exercisable at 8p each. There was a share issue at 8p/share to pay creditors owed £75,000.
Wishbone Gold (WSBN) is raising £500,000 at 9p/share. This will fund the drilling programme at the Red Setter gold copper project in Western Australia.
Ben Redfearn is taking over the finance function at Time To ACT (TTA) and Chris Stavers will become chief growth officer. They will be on the management board and could eventually join the main board.
Guild Financial Advisory has resigned as corporate adviser to Valereum (VLRM) and it is notifying Aquis Regulation of its decision. Trading in the shares was suspended just before the announcement because news of the resignation had leaked.
EPE Special Opportunities (E.OP) NAV was 402.06p/share at the end of September 2026.
Quantum computing IP developer Delta Gold Technologies (DGQ) has raised £1.79m at 110p/share. The cash will be used to develop sensing and communication technologies, as well as potential UK university collaborations. The research programmes at Penn State University and the University of Toronto have been expanded.
Evrima (EVA) agreed a Euro2m loan note facility with Quatro Tree Investments, which can be converted into 10% of the investee company, which is acquiring the owner of the Lújar, San Isidro and Lupión fluorspar mining concessions and the Lújar Norte exploration permit in Andalusia, southern Spain. These assets generate annual turnover of Euro4.9m. Upgrading the plant should help to grow this figure. There is an estimated a Measured and Indicated inventory of 13.7 Mt at 23.55% CaF₂.
WeCap (WCAP) had net assets of £1.72m at the end of April 2026 after borrowings of £6.93m. The WeShop investment is the main asset.
B HODL (HODL) will ask shareholders to approve the “framework for an Ordinary Backed Loans product, a facility under which eligible shareholders may borrow Bitcoin from B DEPLOY, a proposed wholly owned subsidiary, against a charge over their own ordinary shares”. Further details will be published in the AGM circular. The vote requires 75% acceptance.
Tomahawk Metals (TMHK) had cash of £114,000 at the end of April 2026 and subsequently raised £137,000.
Cardiogeni (CGNI) should release its 2025-26 accounts in mid-November.
ASSET MATCH
Gulfsands Petroleum (GPX) is seeking to drill five wells on Block 26 in northeast Syria, where it has a 50% working interest.
AIM
Precision engineer TEK4 Group (TEK4) joined AIM during the week after raising £2m at 200p/share. The share price ended the week at 330p. Existing shareholders raised £22.75m and the market capitalisation is £41m. The company manufactures hole-drilling systems for aero engine and gas turbine components. The cash raised will help to grow the existing business and move into medical devices. A new factory will grow capacity by 75%.
The bid by Brave Bison (BBSN) for marketing research services provider Systems1 (SYS1) has lapsed. Acceptances reached 13.7% in addition to the Brave Bison shareholding of nearly 28%.
Roebuck Food Group (RFG) has appointed Justin McCarthy as chief executive following the refocusing on greenhouse gas mitigation technology developer Glasport Bio and ruminant feed additive provider Glasport Rumen Tech, which he already runs. The number of farms using the products is expanding. Annual recurring revenues could reach Euro1.15m by the end of the year. A proposed fundraising could raise up to Euro10m at 9p/share to develop these businesses. Roebuck plans to take up the option to increase its GlasPort Bio stake from 37.3% to 82.3% in a share deal and it could acquire the rest of Glasport Rumen Tech. This would significantly increase the number of shares in issue. Other businesses will be sold.
Emissions reduction fuel technology developer Quadrise (QED) has launched a strategic review. This will assess commercial and financing options. Alternatives include the granting of master licences for geographic regions, the creation of a joint venture company with a strategic investor, or the seeking of a strategic investor in the holding company. Investments and acquisitions will also be considered in the marine sector. Cash was £2.1m at the financial year end, supplemented by a £1.4m fundraising in July. This could last until September 2027.
Fulcrum Metals (LSE:FMET) has secured a £1m investment at 6.5p/share through a cash subscription of £489,000 and the conversion of loan and interest payments of £511,000 into equity by YA II PN. The cash will help to fund the pilot facility in Ontario that will process material from Teck-Hughes. Fulcrum Metals also says Terra Balcania Resources has announced an airborne geophysical survey has identified multiple uranium targets at the Charlot-Neely Lake uranium project in Canada. Fulcrum Metals owns 5.8 million shares in Terra Balcania Resources and 5.6 million shares in Terra North which holds the rights to the project. There is further potential cash and share consideration totalling C$2.125m.
Catalyst Media (CMX) will receive a 2025-26 dividend of £1.54m from Sports Information Services, where it has a 20.5% interest. That is much higher than the £354,000 received last year. The dividend should take cash to £1.89m. A dividend will be announced when the annual results to June 2026 are announced.
Oil and gas producer Prospex Energy (PXEN) generated revenues of £1.7m in the third quarter. El Romeral reached operating self-sufficiently and contributed net cash of £105,000. Gas prices continue to rise.
TV programmes producer Zinc Media (ZIN) is planning to raise at least £2m at 30p/share with a retail offer potentially raising a further £250,000. There is a concert party that is willing to back the fundraising, but this requires a waiver under the Takeover Code. The directors will also participate. The cash will be used to fund large-scale productions and provide working capital required because of slow payments in the Middle East. There are discussions with Lloyds Bank about forgoing certain covenants for the bank facility.
Building products manufacturer Alumasc (ALU) issued a reassuring AGM update. There is a recovery in the water management business, and the housebuilding products division continues to grow despite the weak market. There is initial income from the Changi Airport contract and continued revenues from Chek Lap Kok Airport. Excluding those projects, revenues are 5% ahead so far this year.
Hostels operator Safestay (SSTY) says trading remains below original expectations even though there have been signs of improvement in recent weeks. Asset disposals and financing alternatives are being assessed. Costs are being reduced. Net debt was £16.2m at the end of the first half and subsequent disposals have reduced debt to £9.1m. Hostels in Lisbon and Brussels are being refurbished. This follows the departure of founder Larry Lipman.
Mkango Magnetic Materials (MKA) is acquiring the 10% stake in HyProMag GmbH of Professor Carlo Burkhardt, taking its stake to 100%. HyProMag GmbH is developing a rare earth magnet recycling and manufacturing plant in Germany. venture HyProMag USA has announced an independent pre-feasibility study outlines potential rare earth magnet capacity expansion to add to the first plant in Texas. There is potential for three new plants and a centralised finishing hub. The incremental post-tax NPV of $1.85bn to $2.06bn. Total capacity could be 6,000 metric tons each year by 2034. The Texas facility is in detailed engineering. There have been additional filings in connection with the reversal of assets into Crown PropTech Acquisitions.
Retailer Shoe Zone (SHOE) had a stronger second half but still lost £1m in the year to September 2026. Net cash of £15.1m was better than expected, partly due to less money than expected being spent on share buybacks. There has been a slow start to the new year. Zeus has doubled its 2026-27 pre-tax profit forecast to £1m due to improved gross margins.
Medical technology supplier Inspiration Healthcare (IHC) is growing its main business but the lack of the one-off export sales meant that group interim revenues declined from £24m to £22m. Excluding non-recurring items the loss was reduced from £301,000 to £11,000. Full year revenues guidance has been raised to £43m indicating that the underlying growth momentum is continuing. However, the loss of a distribution contract means that revenues will fall next year.
Trafalgar Minerals (TRAF) admits that it will not secure a reverse takeover within six months of selling its business assets, so trading in the shares will be suspended on 9 November.
Kazera Global (KZG) chief executive Paul Dullieu bought an initial 2.13 million shares at 1.4p each.
MAIN MARKET
KR1 (KR1) has launched technology infrastructure operations on Bittensor, having acquired 5,000 TAO enabling it to start staking operations. In the first nine months of the year, the infrastructure income was £729,000. NAV is 35.5p/share.
S and U (SUS) has secured two new securitisation facilities of up to £600m to replace the existing £330m facility. There is a £350m facility for the motor finance business, which also has a £25m revolving credit facility, and £250m for the property bridging finance business.
AI company Candessa AI (CAS) has raised £350,000 at 9p/share from chief executive Richard Bernstein and is keen to invest a further £250,000.
Kelso Group Holdings (KLSO) has NAV of 3.6p/share.
Nostrum Oil and Gas (NOG) has completed the sale of its operating assets and there will be a managed wind down. There is unlikely to be a material distribution to shareholders. The listing cancellation is planned for 30 November.
Highway Capital (HWC) has published accounts for the year to February 2025. Net liabilities were £2.44m. There was net debt of more than £1.3m. Since June 2026, additional debt of £54,200 has been raised. A CVA is planned to strengthen the balance sheet. Trading in the shares has been suspended for ten years.
