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Mendell Helium #MDH – AIM – Schedule One Update
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES (“AIM RULES”) Read here
Quoted Micro 8 June 2026
AQUIS STOCK EXCHANGE
Incanthera (INC) is acquiring skincare brand Enielle for up to 54 million shares at 2p each depending on performance and its owner and boss Stuart Robertson will become Incanthera chief executive, taking over from Dr Simon Ward who will remain on the board. Tim McCarthy is stepping down as executive chairman. Enielle focuses on day time treatment of wrinkles and skin texture and it will fit with Skin + CELL, which is focused on evening use. There will be a multi-channel sales strategy and pricing is being reviewed.
Mendell Helium (MDH) has revealed its plans for the move to AIM. This is expected to happen in late June. No new shares will be issued.
Tomahawk Metals (TMHK) has completed the acquisition of the Koolyanobbing gold project in Western Australia. Progress is being made with due diligence for the option over Slovakian assets.
Low-energy digital asset miner Sterling Digital (ASIC) has entered into a contract with Terra Solis Mining for installation support for the first gas to energy site. Sterling Digital has opened a Bitcoin custodian account with Coinbase.
Quantum computing technology developer Delta Gold Technologies (DGQ) partner Penn State University has filed three patent applications, and these will be added to the Delta IP portfolio. The patents relate to using gold and other materials for their quantum mechanical properties for sensing, computing and information processing. Warrant exercises have raised £209,000. Directors have been buying shares.
Heart health ingredients developer ProBiotix Health (PBX) has secured a partnership with Slovakia-based iProbio for the supply of its probiotic strain LPLDL® for a new cardiometabolic health food supplement branded as CARDIObiom+®. Heat disease deaths in Slovakia are around 50% higher than the EU average.
Vaultz Capital (V3TC) is raising £1m from resources investor Regent Resources Capital Corporation at 2.2p/share. Creditors owed £320,000 will be paid. Vaultz Capital is assessing deals “aligned with the energy transition and digital economy, including strategic minerals, AI and digital infrastructure”. Eric Benz has had his employment terminated and he is no longer a director. Ian Burns is joining the board. Executive chairman Charlie Wood bought two million shares at 2.44p each. The share price is 2.6p, compared with an estimated NAV of 3.1p.
Quorium Global Photonics SPC has reduced its stake in Valereum (VLRM) from 49.9% to 44.8%.
Sulnox Group (SNOX) announced a distribution agreement with DLBC, which supplies lubricants to agricultural and transport clients in France. This broadens the use of Sulnox emissions reduction additives.
Vault Ventures (VULT) has identified that trading by its Dubai subsidiary in crypto assets has led to large losses and the loan pf £2.15m advanced to the subsidiary will be written down. There are still potential recoveries from the business.
WeCap (WCAP) has raised £37.250 at 0.35p/share for working capital for the next six months.
BWA Group (BWAP) has appointed Peter Taylor as chief executive.
Ethry (ETHY) has bought 108.3253 Ethereum for £162,488. That takes the total stake to 925 Ethereum
EPE Special Opportunities (EO.P) announced on 1 June that it planned to buy back up to £2m worth of shares. It has bought 206,250 shares and does not intend to buy any more.
Unigel (UNX) shareholders voted to leave Aquis. Chan E Lin has taken a 6.74% stake. The cancellation will be on 22 June.
JP JENKINS
Renewable energy company Thrive Renewables (THRV) reported a decline in full year revenues from £26m to £21m, while operating profit fell from £11.3m to £3.6m. This is due to lower electricity prices. The final dividend is 12p/share. The plan is to double generation capacity by 2028.
ASSET MATCH
Isles of Scilly Steamship Company (IOS) says its new freight vessel is on its way from Vietnam. The company wants to move Skybus into profit. Trading was in line with expectations in the year to March 2026. Andrew Sells has requested access to the share register so that he can contact shareholders.
Marshall of Cambridge (MCH) has sold all its property holdings in Cambridge, including Cambridge Airport, to The Hill Group and Homes England. The airport site will be leased back so that operations can be moved by 2029. Further details will be announced.
Zytronic (ZYT) has sent out the circular to gain shareholder approval for the winding up of the company. The general meeting will be on 26 June and the company would leave Asset Match on 27 June. A cash distribution is expected within three months.
Gulfsands Petroleum (GPX) reported a cash outflow from operations of $2.89m in 2025. Net debt is $1.53m. In march 2026, a management team set foot in Block 26 in Syria for the first time in more than 14 years.
AIM
Corporate finance business Marechale Capital (MAC) is acquiring broker Stanford Capital Partners along with global asset tokenisation platform Blubird Global and NJC Capital Management VSA Private Fund and its manager. The payment is 75.2 million shares issued at 1.75p each, which values the businesses at £1.32m. There will be £1.06m raised at the same price. This will make Marechale a digital merchant bank with tokenisation offering an alternative way of raising money for clients.
Portmeirion (PMP) raised £15m at 50p/share and a retail offer could raise up to £2m more. The homeware brands company will use the cash to reduce net debt and to invest in the US Amazon online business that has been brought in-house. There could also be small bolt-on acquisitions.
Iodine producer Iofina (IOF) has secured an additional supply of brine for the IO#11 plant and this will increase utilisation rates and profit. Annual production iodine volumes could increase to 45-65 tons. Production could start to increase during the third quarter of 2026. A $1.5m investment is required for a pipeline and other related costs.
Pawnbroker Ramsdens (RFX) made a higher profit in the first half than in the previous full year. The interim pre-tax profit jumped from £6.1m to £16.7m, and interim dividend is raised from 5p/share to 9p/share – including a special dividend of 3p/share compared with 0.5p/share the previous year. The loan book is at record levels. Precious metals purchases more than doubled and jewellery retail sales grew by 26%. Forex income declined. Cavendish raised its 2025-26 pre-tax profit forecast by 6% to £30.3m.
Scotland-based housebuilder Springfield Properties (SPR) has eliminated bank debt and had net cash of £1m at the end of May 2026. This will provide opportunities to acquire additional land when there are good prospects available. Full year pre-tax profit is set to be in line with expectations at £12.6m in 2025-26.
Electronic and electro-mechanical component supplier LPA Group (LPA) returned to profit in the first half. Revenues increased 45% to £13.8m with a recovery in rail income and higher industrial sales. There was a return to profit. The order book is worth £29.3m and stretches to 2028-29.
CleanTech Lithium (CTL) has raised £4.77m via a placing at 6p/share. A proposed WRAP retail offer could raise up to £250,00. The outstanding convertible loan notes will be converted into 64.5 million shares. Chairman Steve Kesler has taken £276,273 of fees in 4.6 million shares at the issue price. The cash raised will fund licence purchase costs at Laguna Verde, finance the environmental impact assessment and refinement of the direct lithium extraction processes. Nearly 20 million options will be granted to directors and senior management as part of an incentivisation package.
Floorcoverings distributor Likewise (LIKE) has increased like-for-like revenues by 16.5% in the first five months of the year. May was 19% ahead. That is higher than the first quarter growth of 15%. Capacity is being increased and it will exceed £250m per year.
Ceramic and fragrance products supplier Portmeirion (PMP) announced a fundraising late on Wednesday evening. It raised £15m at 50p/share and a retail offer could raise up to £2m more. The homeware brands company will use the cash to reduce net debt and to invest in the US Amazon online business that has been brought in-house. There could also be small bolt-on acquisitions.
Petrogas will not be making a bid for Deltic Energy (DELT). Neo Next+ Energy Upstream, which is part of the largest North Sea oil group, has bid 7.7p in cash per share and it has been recommended by the board of the oil and gas company. The value is £7.2m.
MAIN MARKET
Seraphim Space Investment Trust (SSIT) continues to rapidly increase its NAV as its portfolio of investments matures and they start to generate revenues. In the quarter to March 2026, the NAV increased by one-quarter to 177.6p/share. Higher defence spending has boosted space investment. Many of the investments have raised money and are well-financed. The £137m raised in the C share issue provides additional funds for new investments.
Andrew Hore
Mendell Helium #MDH – Release of AIM Schedule One. Withdrawal of Shares from AQSE
Mendell Helium, the helium production company with operations in Kansas, announces the release of a Schedule One by the London Stock Exchange in respect of its proposed admission to trading on AIM (“Admission”). This is available to view on the London Stock Exchange website and the Company’s website www.mendellhelium.com. The Company’s ordinary shares of 1 pence each (“Ordinary Shares”) are expected to commence trading on AIM during the week beginning 15 June 2026.
In conjunction with the Admission, the Company announces the proposed withdrawal of its Ordinary Shares from trading on the Access Segment of the Aquis Stock Exchange (“AQSE”) Growth Market in accordance with AQSE Rule 5.3, which is expected to occur in late June 2026. A further announcement will be made in due course.
The Directors of the Company are responsible for the release of this announcement.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
| Investor questions on this announcement
We encourage all investors to share questions on this announcement via our investor website
|
https://mendellhelium.com/s/a6a55a | |
| Mendell Helium plc
Nick Tulloch, CEO
|
Via our website
investors@mendellhelium.com |
|
| Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti / Liam Murray
|
Tel: +44 (0) 20 7213 0880 | |
| SI Capital Limited (Broker)
Nick Emerson
|
Tel: +44 (0) 1483 413500 | |
| Fortified Securities
Guy Wheatley
|
Tel: +44 (0) 203 4117773
|
|
|
Tel: +44 (0) 20 3973 3678 | |
| AlbR Capital Limited
Gavin Burnell / Colin Rowbury / Jon Belliss
|
Tel: +44 (0) 207 4690930
|
|
| Brand Communications (Public & Investor Relations)
Alan Green |
Tel: +44 (0) 7976 431608
|
Mendell Helium #MDH – AIM Schedule 1
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES (“AIM RULES”)
COMPANY NAME:
Mendell Helium PLC (“Mendell” or the “Company”)
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):
Registered office address: Arran House, Arran Road, Perth, PH1 3DZ
Trading address: 1040 E. US Hwy 40 Bypass, Hays, KS 67601, USA
COUNTRY OF INCORPORATION:
Scotland
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
Mendell Helium plc (company number SC680788) is a helium production and exploration company which operates through its wholly owned subsidiary M3 Helium Corp. (“M3 Helium”) in Kansas, USA.
On 18 May 2026, Mendell acquired the entire issued share capital of M3 Helium. M3 Helium was incorporated to pursue helium production opportunities. It has interests in twelve wells, of which six (Rost 1-26, Peyton 21-1, Nilson 1 Unit 2-22, Smith, Bearman “A”1 and Dimmitt 1) are in production.
During 2025 M3 Helium re-completed the Rost 1-26 well (“Rost 1”) in Fort Dodge, Kansas. With a recorded flow rate of 250 Mcf/day and a helium composition of 5.1 per cent. within the gas stream, M3 Helium has more recently drilled a twin well 330 feet from Rost 1 – the Rost 2-26 well (“Rost Twin”).
The production zone that M3 Helium is targeting in Fort Dodge is known locally as the Morrow Sands, both a narrow and thin formation around 5,000 feet from surface. The management team have carried out considerable work in mapping out the Morrow Sands in Fort Dodge and both existing and future leases of land are typically small tranches designed to access this formation. Based on its experience at Rost 1 and supported by data from analogous wells in Oklahoma, the management team believes that the prospectivity of this region may represent a potentially significant opportunity for the Company.
On 30 April 2026, the Company raised gross proceeds of approximately £5 million, the net proceeds of which are intended to be used to roll out a development of helium production zones in the Fort Dodge region through a combination of re-completing existing third party wells and leasing additional land in Fort Dodge to continue to develop opportunities for new production wells.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):
Number of ordinary shares on Admission: 340,761,938 ordinary shares of £0.01 each in the capital of the Company (“Ordinary Shares”). No new Ordinary Shares are being issued or allotted in conjunction with admission to trading on AIM.
Each Ordinary Share carries one vote and the right to dividends.
There are no restrictions as to the transfer of the Ordinary Shares.
No Ordinary Shares will be held as treasury shares on Admission.
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
Capital to be raised on admission: N/A
Anticipated market capitalisation on Admission: approximately £15 million
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
Approximately 26%
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
The Company is currently admitted to trading on the Access Segment of the Aquis Stock Exchange Aquis Growth Market.
THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)
N
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):
Eric James Boyle – Non-Executive Chairman
Nicholas (“Nick“) George Selby Tulloch – Chief Executive Officer
Paul Ethan Mendell – Chief Technical Officer
John Davies Brown – Non-Executive Director
FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):
|
Name |
% of the issued share capital on Admission |
|
Premier Miton |
15.55% |
|
Paul Mendell |
9.30% |
|
Invexo LLC |
8.97% |
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
N/A
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
(i) 31 March
(ii) Unaudited interim results to 31 December 2025 (M3 Helium), unaudited interim results to 30 September 2025 (Mendell Helium)
(iii) 30 September 2026, 31 December 2026, 30 September 2027
EXPECTED ADMISSION DATE:
Late June 2026
NAME AND ADDRESS OF NOMINATED ADVISER:
Cairn Financial Advisers LLP
9th Floor, 107 Cheapside,
London, EC2V 6DN
United Kingdom
NAME AND ADDRESS OF BROKER:
AlbR Capital Limited
80 Cheapside
London
EC2V 6EE
SI Capital Ltd
20 North Audley Street
London,
W1K 6WE
OAK Securities (a trading name of Merlin Partners LLP)
90 Jermyn Street
London SW1Y 6JD
Fortified Securities (a trading name of Riverfort Global Capital Ltd)
128 Buckingham Palace Road
London
SW1W 9SA
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
A copy of the Admission Document will contain full details about the applicant and the admission of its securities, and will be available from the Company’s website at: https://mendellhelium.com/ from Admission.
THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
QCA Corporate Governance Code
DATE OF NOTIFICATION:
1 June 2026
NEW/ UPDATE:
New
Quoted Micro 1 June 2026
AQUIS STOCK EXCHANGE
ProBiotix Health (PBX) has secured a new strategic alliance with Spain-based Bioksan, covering Spain and Portugal. ProBiotix will supply the LPLDL® probiotic strain to Bioksan to replace red yeast rice, which has a compound that might be prohibited in the EU. This deal is worth €200,000. There could be other companies that require a replacement and the market could be worth €26m each year.
Brewer Adnams (ADB) reported a dip in full year revenues from £68.1m to £63.7m as brewery volumes fell 6%, although this outperformed the market. A sub-contract distilling contract was lost. Off-trade volumes also outperformed the market. The pre-tax loss declined by three-quarters to £700,000. Net debt was reduced to £9.2m. There are plans to focus on the profitable opportunities.
Cooks Coffee Company (COOK) group store sales increased 23% to NZ$95.8m. That translates into recognised franchise and managed store revenues of £5.4m, up from £2.9m. Net debt has fallen from £1.8m to £1.1m. There are 109 cafés in operation.
Capital for Colleagues (CFCP) improved interim revenues from £404,000 to £424,000 and there was a swing from a loss of £1.43m to a pre-tax profit of £2.13m. That reflects an upward valuation of the investment portfolio of £2.3m. NAV was 85.5p/share at the end of February 2026.
Mendell Helium (MDH) is approaching de-watering of the well bore of Rost 2-26. Data obtained is being analysed. A permit has been received for increased water disposal at the Brobee salt water disposal well. A new disposal well is being drilled at the Schneweis Ventures 13A well, which is part of a joint venture with Ritchie Exploration. Schneweis previously produced helium and recorded a drill stem test in excess of 10,000 Mcf/day. There is a higher methane content than the Rost wells. Premier Miton has taken a 15.7% shareholding.
VVV Sports (VVV) is acquiring TOPSERIES Pickleball and raising £5m at around the market price. There are plans to seek a Nasdaq listing, while retaining the Aquis quotation. VVV Sports is planning to develop the Abu Dhabi Padel Centre of Excellence with a partner, and it could cost more than £120m.
EPE Special Opportunities (EO.P) sold 1.8 million shares in fully listed Luceco (LUCE) and raised £4.8m. It still owns 21%.
Sulnox Group (SNOX) has secured an emissions reduction additives distribution agreement in Pakistan.
Wishbone Gold (WSBN) has exercised its option to acquire the Silver Lake project in Western Australia. The purchase is funded by the issue of 3.57 million shares at 29p each. Silver demand is growing and Silver Lake has significant surface-level silver mineralisation. Drilling should start before the end of the year.
Paul Compton has increased his shareholding in Time to ACT (TTA) from 4.55% to 5.5%.
Stack BTC (STAK) has appointed Oberon Capital as corporate adviser.
Cardiogeni (CGNI) has repaid £810,000 convertible loan notes.
ASSET MATCH
Zytronic (ZYT) is sending a circular to shareholders to convene a general meeting on 26 June to gain agreement on the winding up of the company.
AIM
Telecoms test equipment supplier Calnex Solutions (CLX) has changed the way it reports its revenues, which shows how important non-telecoms are. In the year to March 2026, more than two-thirds of total revenues of £21.9m, which represents a recovery, but it is not quite the level at the peak. Pre-tax profit improved from £700,000 to £1.2m. The total dividend has been edged up to 0.99p/share, even though it is not covered by earnings. Net cash is £9.3m.
Household electricals brands owner Ultimate Products (ULTP) says third quarter trading shows revenues ahead of expectations. This marks an end to quarter-on-quarter declines. There is also a change in the management with the founder stepping down and a new boss appointed as chief executive. Simon Harrison was previously boss of Princes Group, so he has consumer experience.
Anglo Asian Mining (AAZ) brought two new mines into production during 2025, and it returned to profitability. A final dividend of 4 cents/share means that the company is returning to paying dividends. Revenues more than trebled to $122.8m. There was a move from net debt of $14.7m to net cash of $2.6m.
Diagnostics developer and manufacturer Abingdon Health (ABDX) has entered into a Business Development Tax Credit Agreement with the Wisconsin Economic Development Corporation. This means that the company is eligible to earn up to $370,000 over three years to the end of 2028. This includes $320,000 linked to taking on additional full-time employees with the rest relating to capital investment at the Wisconsin facility.
Specialist coatings services provider Hardide (HDD) has won a significant order worth £2.4m in the energy sector in North America. The US facility has improved its operational efficiency. This has increased the earnings forecast by 17% to 4p/share.
Low sodium salt developer MircoSalt (SALT) reported a jump in revenues from $800,000 to $2.1m in 2025 and they could more than double again this year as new contracts come through. However, the 2026 revenues forecast has been downgraded from $7m to $4.6m because of a delay in production at customer 3. Zeus says that this delay pushes revenues out by five months and 2027 guidance remains that revenues could be $15m. Net debt could be $1.9m by the end of 2026 with 2027 set to be cash generative.
Staffing provider RTC (RTC) says that the trajectory of positive trading in the first quarter of 2026 and six major contracts have been won and rail maintenance demand is in line with 2025 levels. Rising costs will hit margins in rail and energy divisions, and it is also holding back activity levels in the second quarter. Permanent recruitment vacancy levels are at their lowest point since 2021. Daavid Stredder has put forward AGM resolutions for the appointment of Paul Hooper, former Alumasc boss, as independent chairman and Gerard Oates as an independent non-executive director. He objects to Andy Pendlebury being chairman and chief executive and there being only one independent non-executive director and he is employed by the company’s broker. He also complains about the rise in board pay.
Kazera Global (KZG) subsidiary Whale Head Minerals has entered a production sharing agreement with minerals processor Rare Earth Minerals International (REMI) for the Walviskop heavy mineral sands. Taking effect form the 1 June and lasting 12 months, REMI will deploy processing plant valued at £1m and receive 50% of revenues. It will also contribute £27,000/month to project costs. Production should ramp up to 10,000 tonnes of processed heavy minerals sands/month by the end of September.
Ariana Resources (AAU) has updated its pre-feasibility study for the Dokwe gold project in Zimbabwe. The post-tax NPV10 is $740m at a gold price of $4,250/ounce. There was a 42% increase in ore reserves to 1.13Moz. Total pre-production capex is estimated at $163.9m.
Sound Energy (SOU) is selling its development assets in Morocco for $57m in cash and relinquishing nearby exploration assets. This will leave the company with $11m in cash after debt repayment. There are also solar and hydrogen joint ventures. Annual overheads are $2.9m. New oil and gas assets outside Morocco are being considered.
Oil and gas company Prospex Oil (PXEN) reported a 2025 loss of £2.81m, but that was after an investment valuation write down of £2.54m. Increased income from the Selva field in Spain reduced the underlying loss from £745,000 to £273,000. The income from Selva is included in finance income rather than being reported as revenues because of the way the investment is held. These figures are prior to the recent rise in the gas price. First quarter income from Selva was £912,000, which is similar to the income from the field for the whole of 2025. Prospex Energy will use the cash it is generating to expand production at Selva and develop other interests in Spain and Poland.
Pharma industry technology and data provider Diaceutics (DXRX) had annualised recurring revenues of £20m at the end of 2025. Reported revenues rose by one-fifth to £38.4m and the business returned to profit even after redundancy and acquisition costs of £798,000. The largest customer accounted for 18% of revenues. The order book grew 56% to £38.9m, with £21.1m of visibility for the next 12 months, up from £17.7m last year. Constant currency revenues growth was 15% in the first quarter.
Europa Oil and Gas (EOG) has received government approval in Equatorial Guinea for the farm out of EG-08 to Chinese company Fuhai. The final requirement is Chinese government approval. Drilling could start on the Barracuda well in early 2027. Tennyson Securities values the company’s 17% stake at 19p/share.
Borders & Southern Petroleum (BOR) says that there is multiple potential farm out partners for its Falkland Islands oil exploration assets. The final investment decision for the Sea Lion prospect, offshore Falkland Islands, has increased interest. In 2025, there was a cash outflow of $2.4m leaving $2.56m in the bank, which should fund the company in 2025.
Tooru (TOO) is not progressing with the acquisition of Mylky, a business selling small plant-based home milk making machines and associated products throughout Europe, because of concerns about the level of debt required given the current geopolitical conditions and issuing shares would have been too dilutive. There were also concerns about potential legislation.
Logistics Development Group (LDG) NAV was 1.2% lower at 26.4p/share at the end of the quarter to March 2026.
MAIN MARKET
Quantum dots developer Nanoco (NANO) plans to save £700,000 annually by leaving the Main Market. There was still £10.1m in the bank in May. The plan is to move to JP Jenkins.
Foams manufacturer Zotefoams (ZTF) says sales were 26% ahead at £64.1m in the first four months of the year. That is 7% organic growth. Footwear demand has reduced from its peak, but this has been replaced in other sectors. North America was a growth region with 30% organic growth. Surcharges have been issued to cover raw materials rising costs. Cross selling is already coming through from the OKC acquisition.
Shell Highway Capital (HWC) raised £67,000 in debt in the seven months to February 2026. The interest rate is 10%. The cash enabled the preparation of the 2023-24 accounts and work is ongoing on the next two years of accounts, after which trading in the shares could resume. A company voluntary arrangement is planned.
Digital assets investor KR1 (KR1) generated £50,046 from technology operations and £10,129 from financial operations during April 2026. NAV was 20.8p/share at the end of April 2026.
Red Capital has changed its name to Apertura Energy (VZLA), following the proposed change in investing strategy and new management appointments. Greig Gilbert is chief executive, and Scott Gilbert is chairman. The focus will be on the energy market in Venezuela.
Andrew Hore
Mendell Helium #MDH – Premier Miton Group Major Shareholding
Mendell Helium TR1. Premier Miton Group Plc now holds 53,000,000 shares or 15.67% of the company.
Mendell Helium #MDH – Issue of Equity, Total Voting Rights & Director Dealing
Mendell Helium, the helium production company with operations in Kansas, announces the following issues of equity to a Director and members of its staff in accordance with share-based remuneration arrangements agreed with them and an additional issue of equity to professional advisers.
Nick Tulloch, Chief Executive Officer, will receive 750,000 new ordinary shares of 1 pence each (“Ordinary Shares”), as payment in lieu of £22,500 of accrued remuneration for the period from 1 January 2026 to 31 March 2026. Pursuant to the arrangements announced on 23 June 2025, the new Ordinary Shares will be issued at a price of 3.0 pence per share, being a price equal to the issue price of the Company’s subscription announced on 20 January 2026.
Following this issuance, the total number of Ordinary Shares that will be held following Admission by Nick Tulloch, a director of the Company, is as follows:
|
Name |
New Ordinary Shares to be issued |
Total Ordinary Shares held in the Company following Admission |
Percentage of the Company’s enlarged issued ordinary share capital following Admission |
|
Nick Tulloch |
750,000 |
6,323,9831 |
1.85% |
1Including shares held by his spouse and Fetlar Capital, a company controlled by Nick Tulloch and his spouse.
Mendell Helium has also issued 500,000 new Ordinary Shares to each of two US based members of the M3 Helium Corp. (“M3 Helium”) team (“Consultant Shares”). These individuals previously supported M3 Helium as consultants and, ahead of the completion of the Company’s acquisiton of M3 Helium, joined the team thereby strengthening M3 Helium’s capabilities to advance its projects. In both cases, the issue of the Consultant Shares is in lieu of services provided as well as securing their commitment and incentivising their performance. These Consultant Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s placing announced on 30 April 2026.
Additional Issue of Equity
The Company has agreed to issue and allot 200,000 new Ordinary Shares at a price of 3.0 pence per share as payment in lieu of approximately £6,000 of accrued quarterly fees owed by the Company to a professional adviser. In addition, the Company has agreed to issue 625,000 new Ordinary Shares to a professional adviser as part of its remuneration in connection with the Company’s AIM admission workstreams. These new Ordinary Shares will be issued at a price of 4.0 pence per share, being a price equal to the issue price of the Company’s placing announced on 30 April 2026.
Admission
Application will be made for the 2,575,000 new Ordinary Shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market (“Admission”). Admission is expected to occur at 8:00 am on or around 2 June 2026. The new Ordinary Shares will rank pari passu with the existing ordinary shares.
Total Voting Rights
Following Admission, the Company’s enlarged share capital will comprise 340,761,938 Ordinary Shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 340,761,938. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson
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Tel: +44 (0) 1483 413500 |
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 |
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608 |
Mendell Helium #MDH – Operations update
Mendell Helium, the helium production company with operations in Kansas, is pleased to provide an update on the Company’s operations in Fort Dodge, Kansas.
Rost 2-26
Completion operations at the Rost 2-26 well are underway, with a rig on-site to perforate the targeted helium production zones. Once this phase of the project has been concluded, an electric submersible pump will then be installed in the wellbore for de-watering.
During drilling of the Rost Twin, the Company employed a mass spectrometer which identified several shows of helium in different potential production zones within the well. This data has been analysed and is being used in the completion operations to identify both the location and length of the perforations.
Brobee
Simultaneously with the operations at Rost Twin, Mendell Helium is also upgrading the nearby Brobee salt water disposal well (“Brobee”) to access the deeper Arbuckle formation. Operations have commenced and involve removing plugs from the well to increase the disposal depth. The Company has received a permit for Brobee that doubles its water disposal capacity to 10,000 barrels per day, making it sufficient for both Rost wells. During the upgrade works at Brobee, water pumping from the Rost 1-26 well has been temporarily suspended.
Recompletion of Schneweis Ventures 13A
Work has also commenced drilling a new disposal well to support the recompletion of the Schneweis Ventures 13A well (“Schneweis”), in which Mendell Helium is partnering with Ritchie Exploration, Inc. (“Ritchie”). Similar to the Rost wells, Schneweis will also be de-watered ahead of returning to production.
Schneweis has previously produced consistently over 300 Mcf/day and recorded a drill stem test in excess of 10,000 Mcf/day. With a sustained de-watering programme, the directors believe there is potential to increase production from historic levels.
Helium composition has been measured at 1.39% but, unlike the Rost wells, there is a higher methane content of 70.06%. Significantly, Schneweis is connected to a pipeline owned by Ritchie and it is envisaged that all produced gas from the well will be delivered to that pipeline with no requirement for prior treatment. Accordingly, the economics of the well will include the sale of hydrocarbons as well as helium.
Nick Tulloch, Chief Executive Officer of Mendell Helium, said: “This month marks a significant increase in activity by Mendell Helium. For the first time in our history, we have three rigs operating at three locations. The purpose of the recently completed fundraising was to give us the ability to accelerate our growth and we have wasted no time in putting this into effect. Alongside these operations, our subsurface team is examining the locations for our next phase of production wells and we expect the new faster pace of our operations to continue during 2026.”
The Directors of the Company are responsible for the release of this announcement
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
| Investor questions on this announcement
We encourage all investors to share questions on this announcement via our investor website
|
https://mendellhelium.com/s/a6a55a | |
| Mendell Helium plc
Nick Tulloch, CEO
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Via our website
investors@mendellhelium.com |
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| Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 | |
| SI Capital Limited (Broker)
Nick Emerson
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Tel: +44 (0) 1483 413500 | |
| Fortified Securities
Guy Wheatley
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Tel: +44 (0) 203 4117773
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Tel: +44 (0) 20 3973 3678 | |
| AlbR Capital Limited
Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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| Brand Communications (Public & Investor Relations)
Alan Green |
Tel: +44 (0) 7976 431608
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Overview of Mendell Helium
Mendell Helium is a helium producer in Kansas, USA where it operates through its wholly owned subsidiary M3 Helium.
M3 Helium’s flagship well, Rost 1-26, is in Fort Dodge, just to the east of Dodge City, Kansas. It has been tested as containing 5.1% helium composition and a drill stem test yielded a maximum flow rate of approximately 2,900 Mcf per day. Water removed from Rost 1-26 is delivered to Brobee, a nearby disposal well that has been permitted at 10,000 barrels of water per day at 1,200 psi. Production at Rost 1-26 commenced in early November 2025 and the most recently recorded flow rate in December 2025 was 250 Mcf per day equating to approximately $1.4 million of helium per year (at $300/Mcf helium).
M3 Helium has subsequently drilled a second well, Rost 2-26, which is currently being completed. It also owns additional leases in the Fort Dodge area capable of supporting up to eight new production wells. It has also agreed a joint venture with Ritchie Exploration, Inc. to recomplete the Schneweis Ventures 13A, a well with a drill stem test of over 10,000 Mcf per day and a historic flow rate of 300 Mcf per day.
At the Rost wells in Fort Dodge, M3 Helium treats the raw gas on site to concentrate the helium and has leased two tube trailers which it uses for deliveries to its offtaker.
M3 Helium also has interests in five producing wells (Peyton, Smith, Nilson, Bearman and Dimmitt) within the Hugoton gas field in South-Western Kansas, one of the largest natural gas fields in North America. Significantly these wells are in the proximity of a gathering network and the Jayhawk gas processing plant meaning that producing wells are all tied into the infrastructure.
M3 Helium is also developing a Bitcoin mining operation in Nebraska where it has taken a lease of land prospective for biogenic methane and has drilled a pilot well (Jasper). It is onboarded for custody with Bitgo Inc. and its Bitcoin treasury management policy is available at https://mendellhelium.com/bitcoin-treasury.
Forward Looking Statements
These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
Important Notices
Mendell Helium plc (the “Company”) intends in the future to invest surplus cash and hold treasury reserves in bitcoin. Bitcoin is a type of cryptocurrency or crypto asset. Whilst the Board of Directors of the Company considers holding bitcoin to be in the best interests of the Company, the Board is aware that the financial regulator in the UK (the “Financial Conduct Authority” or “FCA”) considers investment in bitcoin to be high risk. However, the Board of Directors of the Company consider bitcoin to be an appropriate store of value and growth for the Company’s reserves and, accordingly, the Company may in the future be materially exposed to bitcoin. Such an approach is innovative, and the Board of Directors of the Company wish to be clear and transparent with prospective and actual investors in the Company on the Company’s position in this regard. An investment in the Company is not an investment in bitcoin, either directly or by proxy.
The Company is neither authorised nor regulated by the FCA and cryptocurrencies (such as bitcoin) are unregulated in the UK. As with most other investments, the value of bitcoin can go down as well as up, and therefore the value of bitcoin holdings can fluctuate. The Company may not be able to realise any future bitcoin exposure for the same as it paid in the first place or even for the value the Company ascribes to bitcoin positions due to these market movements. As bitcoin is unregulated, the Company is not protected by the UK’s Financial Ombudsman Service or the Financial Services Compensation Scheme. Prospective investors in the Company are encouraged to do their own research before investing.
Quoted Micro 25 May 2026
AQUIS STOCK EXCHANGE
Time to ACT (TTA) says that Ruth Herbert has been appointed chief executive of EET Hydrogen and power, which is a potential client, and final investment decision for the HPP1 blue hydrogen project is due in the second half of 2026. Time to ACT has completed the acquisition of MTE Heat Treatment for £500,000.
Unigel Group (UNX) has decided it is best to leave Aquis and is asking for shareholder agreement. A general meeting is planned on 5 June.
Ian Bagnall has taken a 5.78% stake in Tomahawk Minerals (TMHK), formerly Shortwave Life Sciences. The company is concentrating on its gold and antimony, and it is planning a move to AIM.
In the first quarter of 2026, SuperSeed Capital (WWW) improved to 141p/share or 136.4p/share after notional management fee.
B HODL (HODL) has launched the Lightning Service Provider platform, which provides programmable liquidity for Bitcoin.
Quantum computing technology developer Delta Gold Technologies (LON: DGQ) pointed out a Wall Street Journal article concerning the award of up to $2bn in grants to the quantum computing sector. The company issued 28,571 shares at a warrant price of 50p each.
In the six months to February 2026, Astrid Intelligence (ASTR) had a cash outflow from operations was £612,000. There was £338,000 left in cash. Income from digital assets was £516,000, up from £20,000 in the first half of the previous year, but there was a sharp increase in operating costs. There was a £3.76m drop in the valuation of the digital assets.
Mendell Helium (MDH) has completed the acquisition of M3 Helium and Paul Mendell, who has a 9.37% stake, has been appointed technical director.
Arbuthnot Banking (ARBB) made a strong start to the year and loan balances edged up to £2.32bn by the end of April 2026. Deposits were 1% ahead to £4.26bn over the same period. Funds under management and administration were 5% higher at £2.8bn. No reductions in interest rates so far this year has been good for Arbuthnot Banking, and the income on its surplus funds.
Nomad Compute (NMD) has raised £3.124m at 0.125p/share. A capital reorganisation is required to reduce the apar value to enable the shares to be issued. The cash is for “developing and operating modular, containerised edge AI compute infrastructure for global enterprise and sovereign markets”.
IntelliAM AI (INT) has appointed Joel Crawfod as chief revenue officer. He will be based in Texas.
Energy B (NRGB) has appointed First Sentinel as corporate adviser.
Oliver O’Donnell, head of equities for VSA Capital (VSA), has been appointed to the group board.
Roundhouse Digital has changed its name to Roundhouse AI (ETHL).
AIM
Asia-focused oil and gas producer Jadestone Energy (JSE) reported a loss of $133.7m on revenues of $408m for 2025, but that figure is complicated by $126m impairment charge and the $18.5m write off for the abandonment of the SKUA-11 well. That masks the strong cash generation of the business last year. Cash generated from operating activities was $91.4m, helped by lower operating costs, and along with the $39.4m proceeds from a disposal this was more than enough to fund capital expenditure and interest charges. Net debt reduced to $89.1m. Jadestone Energy has refinanced debt through a $200m bond issue, which increases the cash available. Production in 2026 could be at the lower end of the 18,000-21,000 boe/day guidance range – last year it was 19,829 boe/day – because of a storm stopping production at the Stag field. That should generate enough cash to cover investment this year. The farm-out process for the Vietnam asset has commenced.
Medical devices developer Creo Medical (CREO) has raised £5.5m at 15p/share and the Bank of Wales is subscribing for £2m of convertible loan notes. Creo Medical plans to sell the remaining 49% interest in Creo Medical SL to 51% shareholder CME at book value. The sale of the 51% stake raised £24.7m after costs CME will continue to distribute Creo Medical products in Europe. Cash was £12.4m at the end of 2025 and there was a subsequent dividend of £1.6m from CME. Creo medical made an underlying operating loss of £13.7m on revenues of £6m in 2025 and the additional cash will help to accelerate growth in sales. First quarter revenues were 60% ahead and full year revenues could grow at a similar rate. Operating costs should be reduced by 15%.
Energy efficiency technology developer Sabien Technology (SNT) is entering into an agreement for a proposed strategic commercial partnership and financing that will help to accelerate commercial deployment of the M2G technology. The partnership with Haydale (HAYD) and SaveMoneyCutCarbon (SMCC) means that SMCC will be the M2G distributor in agreed commercial, industrial and public sector markets. Haydale would also help with improving manufacturing efficiency. Non-core investments are being reviewed, and additional opportunities will be assessed. A strategic investor group could acquire the 26.7% stake held by executive chairman Richard Parris and restructure the debt owed to Parris Group. A convertible loan note could raise up to £2m. Final terms have to be agreed. This announcement follows the settlement of a historical contract for £40,000 in cash and £50,000 in shares at 5.71p each.
Building and plumbing products distributor Lords Group Trading (LORD) has reported better than expected results. Pre-tax profit still fell from £3.8m to £2.8m. There has been a rationalisation of plumbing and heating distribution sites and there was a small dip in sales. Online builders merchant CMO made an initial contribution. Market share is improving. There could be a further fall in profit this year.
FIH Group (FIH) will pay a 40p/share special dividend from the funds from the £11.6m sale of the Portsmouth Harbour Ferry Company. The shares go ex-dividend on 5 June. Chief executive Stuart Munro gets a £478,000 bonus and finance director Reuben Shamu £293,000 for the successful disposal.
Gold producer Metals Exploration (MTL) produced 65,287 ounces of gold in 2025, but the higher gold price meant that revenues rose by 9% to $208.4m. Free cash generated from operations was 19% higher at $115.3m. Construction of the La India project in Nicaragua is one-third complete. The first gold pour could be in December. Gold production guidance for Runruno has been revised downwards to 40,000-48,000 ounces.
Invinity Energy Systems (IES) has won a project through FlexBase to design a GWh-scale vanadium flow battery to be deployed at the Technology Centre Laufenburg, Switzerland. This datacentre and technology campus required up to 1.5GWh and it could be expanded to 2.1 GWh. There should be phased manufacturing of the batteries.
Automotive interior components manufacturer CT Automotive (CTA) reported a 4% dip in revenues to $114.8m, while pre-tax profit improved by one-fifth to £9.5m. Earnings were 11.4 cents/share. A further improvement is expected this year.
TV programmes producer Zinc Media (ZIN) has won a $6m contract to produce an entertainment series in the Middle East. The international distribution rights should add extra income. The series has already been broadcast for 17 seasons, and it follows inventors developing ideas. Zinc Media has been brought in to refresh the format, and the programme will be shot in Arabic and English. Zinc Media is acquiring William Martin Qatar for an initial £400,000. The final purchase price will be up to £1.12m. This is an agency specialising in events and film in the Middle East and it fits well with the existing business in the region. Full year revenues of £3.4m and pre-tax profit of £300,000 are forecast.
Tap Global Group (TAP) recently launched the Tap Earn app and it has reached $3.5m of assets under management. The app offers a yield of up to 7% on supported stablecoin holdings, up to 3.5% on Ethereum and up to 2.5% on Bitcoin. Tap Earn is available across all the company’s markets and will generate revenues for the company by converting passive customer balances into generating income.
Fulcrum Metals (FMET) has secured surface rights to 270 acres of the Teck Hughes tailings project. This provides access and operational flexibility. The price is C$220,000 in cash and a 1.5% net smelter royalty. The net smelter royalty can be reduced to 0.75% for C$750,000 in cash and to 0.5% with a further C$500,000 payment.
Mkango Resources (MKA) subsidiary Mkango Rare Earths has filed a registration statement in the US concerning its merger with Crown PropTech Acquisitions. This helps to progress the proposed Nasdaq listing for Mkango Rare Earths.
Ariana Resources (AAU) is selling a 13.6% stake in the Zenit gold mining joint venture in Turkey to the majority shareholding for $19.5m – $17.2m after tax. Ariana Resources retains a 9.9% stake in Zenit, which could generate dividends, and has $29m in cash. The cash will be invested in the Dokwe project in Zimbabwe and the cash will fund the project up to the definitive feasibility study.
First quarter results from gold miner Thor Explorations (THX) show year-on-year revenues increasing from $64m to $74.3m and lower operating costs per ounce of gold. Net income rose from $34.4m to $46.7m. Net cash was $177.9m at the end of March 2026. A dividend of C$0.0275/share was announced. Full year production guidance is 75,000-85,000 ounces of gold with average costs likely to edge up.
Gene therapy technology developer 4basebio (4BB) increased 2025 revenues from £900,000 to £1.7m and it is forecast to rise to £2.5m. The loss was £17.9m. There should still be £8.5m in the bank at the end of 2025. The company has secured a clinical supply deal with a biotech company for supply of synthetic DNA to a phase II immunotherapy programme.
MAIN MARKET
Vehicle rental and claims management company Zigup (ZIG) traded strongly in the second half with profit at the upper end of expectations. Full year pre-tax profit is set to be around £160m. Cash generation has improved. The results will be released on 8 July.
Ground engineering and piling business Keller (KLR) reported stronger trading in the first four months of the year despite the global background. North America has done well. Higher costs are being passed on in new contracts. The order book is worth £1.7bn. The interim results will be published on 4 August.
New Frontier Minerals (NFM) has visited the NWQ Copper project with partner Austral Resources to inspect the Big One Deposit and Big One North prospect. The historical copper stockpile was assessed. Mt Storm was identified as an under explored near surface target.
Andrew Hore