News blog

AIM 50 Digest 31 December 2025

BY: Andrew Hore |
POSTED: 04/01/2026 |

Serica Energy (SQZ) is buying North Sea assets from Spirit Energy for $74m with the effective date 1 January 2025. These are predominantly gas assets and production is 13.5mboe/day. Spirit Energy is retaining decommissioning liabilities with a cap of 115% of current estimates. Serica Energy chief executive Chris Cox previously held the same role at Spirit Energy, so he knows the assets. The acquisition will be earnings enhancing with potential upside from further drilling and development. Chris Cox bought 64,007 shares at 169.898p each.
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Rockhopper Exploration (RKH) has made the final investment decision on phase 1 of the Sea Lion field, offshore Falkland Islands and financing has been finalised. The total cost is estimated at $2.1bn. A one-for-49 open offer to raise up to £7m has been launched and closes on 15 January 2026.
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Hargreaves Services (HSP) is trading in line with expectations with the services division growing in the first half and more funding for infrastructure projects augurs well. The Blindwells land development in Scotland will contribute to interims. Cash was £37.3m at the end of November.
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Redcentric (RCN) is focusing on the IT managed service provider business following the sale of the datacentre business. Interim revenues dipped 4% to £66.8m with 90% recurring. Pre-tax profit improved from £3.6m to £3.9m. Following the disposal net cash should be more than £80m. There could be a special dividend in the future.
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RWS (RWS) full year revenues fell 4% to £690.1m and adjusted pre-tax profit slumped 43% to £60.4m. There was an improved profit in the second half. The dividend has been cut by the same percentage to7.05p/share. Net debt was £25.4m at the end of September 2025. Trading is improving in the early months of the new financial year, and revenues should grow this year.
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Video games developer everplay group (EVPL) acquired 20% of Super Media Group for £2m as part of a consortium that bought it from Tencent. It owns first person shooter game Bulkhead.
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Pantheon Resources (PANR) is suspending flow testing at the Duhle-1 well in order to save costs of around $150,000/day in the winter period. Costs will be lower in the spring. Results have been disappointing so far. The company will analyse data and assess opportunities in other parts of its oil and gas portfolio in Alaska. There is $27.2m in the bank. Zeus has cut its total risked NAV from 73p/share to 53p/share. Michael Spencer reduced his stake from 8.19% to 7.59%.
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Electronic monitoring technology provider Big Technologies (BIG) has been winning international contracts, including one in Lithuania that will generate £600,000 each year. A partnership in the US with Recovery Monitoring Solutions will target alcohol monitoring. Trading is in line with expectations.
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Defence equipment and services supplier Cohort (CHRT) reported interim revenues 9% higher at £128.8m, but pre-tax profit dipped from £9.8m to £8.8m. This was due to sales of lower margin products. The order book is worth £604.5m.
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Begbies Traynor (BEG) increased interim revenues by 9% to £82m and that is before any contribution from recent acquisitions. Pre-tax profit improved from £11.5m to £12.1m. The dividend was raised 7% to 1.5p/share. Net debt was £5.7m, but that will be higher after recent acquisitions.
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ITM Power (ITM) won a 12.5MW contact with Octopus Energy Generation for Neptune V containerised green hydrogen systems at Kimberly-Clark’s Northfleet manufacturing plant. Two other engineering contracts have been won in Australia and Canada.
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Idox (IDOX) adjourned the general meeting to gain shareholder approval for the recommended 71.5p/share cash bid from Long Path Opportunities Fund. There will be discussions with shareholders. The meeting will be held on 6 January 2026.
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Brickability (BRCK) has refinanced its £110m of bank facilities for an initial three-year term. The interest charges are the same.
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Veterinary practices operator CVS Group (CVSG) is moving to the Main Market on 29 January 2026. Renew Holdings (RNWH) says it has no plans to mov to the Main Market.
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Impax Asset Management (IPX) has completed the £10m share buyback having acquired 5.56 million shares. Dotdigital (DOTD) has launched a £3m share buyback. Chairman John Conoley bought 10,000 shares at 64.0898p each and 10,000 shares at 65.4637p each.
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Hendrik Marius van Heijst sold his 4.94% stake in Knights Group Holdings (KGH), while Stichting Pieter Bastiaan acquired a 4.94% shareholding. Nichols (NICL) chair bought 1,940 shares at 966.59p each, while non-exec Alan Williams acquired 2,500 shares at 969.99p each. New Volex (VLX) chair Dave Webster bought 113,096 shares at 408.34p each and 39,321 shares at 407.16p each.

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AIM 50 Digest 31 December 2025

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