A busy morning of corporate news spans oncology M&A, a recommended takeover bid in oil and gas, and operational updates from automotive retail to copper mining. Thalia Therapeutics (AIM:THAT)'s acquisition of Sanmirna Therapeutics leads the agenda, while an all-cash approach for Pharos Energy (AIM:PHAR) by Israel's Ratio Petroleum adds M&A weight to the session's news flow.
Thalia acquires RNA oncology firm in oversubscribed placing
Thalia Therapeutics (AIM:THAT) has agreed to acquire Sanmirna Therapeutics, adding the clinical-stage RNA therapy miRisten to its pipeline in a deal funded by an oversubscribed placing at 0.6p per share that raised £2.75m. MiRisten targets acute myeloid leukaemia, broadening Thalia's oncology focus and giving the group a clinical-stage asset to advance alongside its existing programmes.
Esyasoft given until 21 July to decide on CyanConnode bid
The put-up-or-shut-up deadline for Esyasoft's possible offer for CyanConnode Holdings (AIM:CYAN) has been extended by nearly four weeks to 21 July, as confirmatory due diligence enters its final stages. The extension keeps the potential takeover live but imposes a firm deadline by which Esyasoft must either announce a firm intention to bid or walk away.
Pennant lands first Auxilium-GenS sale via Siemens partnership
Pennant International (AIM:PEN) has completed its first commercial sale of Auxilium-GenS through its global distribution agreement with Siemens Digital Industries Software, less than three months after the partnership was signed. The milestone validates the commercial model underpinning the tie-up, with Siemens acting as the route to market for Pennant's systems support software across international customers.
THG reiterates guidance as first-half revenue and earnings accelerate
THG (LSE:THG) used its AGM trading statement to confirm full-year guidance, reporting 6.5% first-half revenue growth and a 36% surge in first-half earnings, alongside its strongest first-half free cash flow since 2021. The e-commerce group described the revenue trajectory as accelerating, with the guidance reiteration signalling confidence that momentum will be sustained into the second half.
Vertu Motors upgrades full-year profit guidance on broad trading beat
Vertu Motors (AIM:VTU) has lifted its full-year profit outlook, now expecting FY27 adjusted profit before tax to exceed the £24.5m analyst consensus after like-for-like volume growth across all sales channels. The UK automotive retailer's upgrade reflects broad-based outperformance rather than strength in any single segment.
Anglo American and Codelco close Los Bronces-Andina copper mine deal
Anglo American (LSE:AAL) and Chile's Codelco have completed their definitive agreement to run coordinated operations across their neighbouring Los Bronces and Andina copper mines, targeting 2.7m additional tonnes of production over the life of the combined operation. The deal, structured as a joint mine plan rather than an ownership merger, allows both parties to optimise extraction across a shared ore body while retaining their respective stakes.
Seed Innovations pivots to robotics and AI with two new investments
Seed Innovations (AIM:SEED) has repositioned its investment strategy toward physical AI and industrial robotics, completing two post-period investments under the new focus. The AIM-listed closed-end fund is stepping away from its prior portfolio emphasis, with the board citing the structural growth opportunity in automation and AI-driven industrial systems as the rationale for the strategic shift.
Primary Health Properties in advanced talks on private hospital JV
Primary Health Properties (LSE:PHP) has confirmed it is in advanced discussions with an unnamed investor to establish a new joint venture seeded with its private hospital portfolio. The move would allow PHP to recycle capital while retaining exposure to the assets through a co-investment structure, though no terms have been disclosed and no agreement has yet been reached.
Dillistone targets summer CEO hire as Talentis nears profitability
Dillistone Group (AIM) has indicated its Talentis recruitment software platform is on course to turn cash generative in the second half of the year, while its search for a new chief executive is expected to conclude over the summer. The dual update positions the group at an operational inflection point, with leadership continuity and platform economics both expected to resolve within months.
Thor Energy awards seismic contract at South Australia hydrogen project
Thor Energy (AIM:THR) has signed a Letter of Award for a 464-kilometre 2D seismic survey at its HY-Range project in South Australia, marking a key step toward identifying drill targets for natural hydrogen and helium. The survey will generate subsurface data to guide the group's first drilling programme at the project.
Verici Dx secures New York approval to complete US-wide coverage
Verici Dx (AIM:VRCI) has received New York State laboratory certification for its Tutivia kidney rejection test, completing regulatory authorisation across all 50 US states. New York's approval process is among the most stringent in the country, and its clearance removes the final geographic barrier to nationwide commercial deployment of the transplant diagnostics test.
SatoshiPay hits $3m monthly FX volume on Base blockchain migration
Blue Star Capital (AIM:BLU)'s investee SatoshiPay has migrated its decentralised foreign exchange infrastructure to the Base blockchain network and launched payment corridors across four Americas markets, reaching $3m in monthly FX volume. The Base migration is intended to reduce transaction costs and improve throughput as SatoshiPay scales its cross-border payments business.
Hydrogen Utopia outlines £800m UK SAF plant and defence fuel talks
Hydrogen Utopia International (AIM:HUI) has set out plans for a UK sustainable aviation fuel facility carrying an estimated £800m capital expenditure, alongside early-stage defence fuel discussions conducted through its Fortress Fuel vehicle and continued engagement in Saudi Arabia and Oman. The announcements mark a broadening of the group's commercial pipeline beyond its core waste-to-hydrogen model.
Zinc Media sells Brexit documentary across North America, Middle East and Ireland
Zinc Media Group (AIM:ZIN)'s distribution arm has closed licensing deals for a two-part Brexit documentary across North America, the Middle East, and Ireland, with further broadcaster agreements described as expected. The sales add international revenue to Zinc Distribution's slate and demonstrate the arm's ability to place factual content across multiple territories simultaneously.
Haydale revenue surges 463% following SaveMoneyCutCarbon acquisition
Haydale Graphene Industries (AIM:HAYD) reported a near-fivefold jump in first-half revenue following its January acquisition of SaveMoneyCutCarbon, with the SMCC business reshaping the group's scale and commercial profile. Operating losses widened over the period as integration costs weighed, though the revenue transformation reflects the step-change in the group's addressable market following the deal.
Cobra Resources assays define high-grade 5km rare earth zone
Cobra Resources (AIM:COBR) has released drilling results from its South Australian project that outline a scalable rare earth system extending across a 5-kilometre zone at the Head Prospect. The assays reveal acid-generating characteristics in the host mineralogy that the group believes could reduce extraction costs relative to conventional rare earth processing.
Cavendish posts marginal revenue rise but core profit dips
Cavendish (AIM) grew full-year revenue slightly to £56.9m in the year ended March 2026 but saw core profit decline as larger private markets fees that had been anticipated failed to materialise. The AIM-listed investment bank's results reflect the continued unevenness of deal activity across its advisory and capital markets franchises.
Ratio Petroleum launches recommended all-cash bid for Pharos Energy
Israel-based Pharos Energy (LSE:PHAR) has received a recommended all-cash acquisition proposal from Ratio Petroleum Energy, structured as a scheme of arrangement. Ratio has cited the combined group's capacity to fund exploration growth as the strategic rationale, with the board of Pharos recommending the offer to shareholders.
Jadestone's first Malaysia well flows at 3,000 bopd, unlocking third drill
Jadestone Energy (AIM:JSE) has reported that the opening well of its 2026 Malaysia drilling campaign flowed at 3,000 barrels of oil per day, with subsurface data from the well supporting a decision to add a third well to the programme. Full-year capital expenditure guidance remains unchanged despite the expanded scope, reflecting the strong well economics.
Buccaneer Energy reserves climb 18% as NPV rises to $11.7m
Buccaneer Energy (AIM:BUCE) has received an independent reserve review confirming an 18% increase in proved reserves and a rise in net present value to $11.7m across its Texas portfolio. The updated figures support the group's borrowing base with WAFD Bank at $4.45m.
Essentra closes bolt-on acquisition of Italian components maker Boteco
Essentra (LSE:ESNT) has completed its acquisition of Boteco, an Italian mechanical components specialist, at a multiple of 6.5x EBITDA. The deal is expected to be earnings per share accretive in the first full year of ownership, adding European manufacturing capacity to Essentra's components division.
Beximco Pharma half-year profit rises 36% on domestic and export growth
Beximco Pharmaceuticals (LSE:BXP) grew profit after tax by more than a third in the six months to December 2025, with the 36% increase outpacing revenue growth across both its Bangladesh home market and international export business. The result reflects sustained demand for the group's generic pharmaceutical products across its key geographies.
B&M appoints Asda finance executive as incoming CFO
B&M European Value Retail (LSE:BME) has named Atheeq Akbar, currently a finance executive at Asda, as its new chief financial officer, with the appointment effective from February 2027. The hire ends a search that had been running for several months, bringing external retail finance experience into the group's leadership team.
Cambridge Cognition raises minimum £2.5m for regulatory clearances and platform work
Cambridge Cognition Holdings (AIM:COG) is raising a minimum of £2.5m to fund CE marking and FDA clearance processes for its digital cognitive assessment platform, alongside paediatric data development and speech recognition enhancements. The fundraise is intended to advance the group's regulatory position in both European and US markets.
Kenmare upsizes revolving credit facility to $230m amid commodity weakness
Kenmare Resources (LSE:KMR) has expanded its revolving credit facility by $30m to $230m and secured covenant waivers for 2026, providing additional financial headroom during a period of weak titanium mineral markets. The upsizing gives the group flexibility to manage cash flows without being forced into asset sales or equity issuance at a difficult point in the commodity cycle.
ITM Power signs LOI with DB Systemtechnik for green hydrogen FEED study
ITM Power (AIM:ITM) has formalised plans with Deutsche Bahn's technical arm, DB Systemtechnik, through a Letter of Intent to conduct a front-end engineering and design study assessing hydrogen electrolyser deployment across DB's rail and transport infrastructure. The agreement marks ITM's entry into the European rail hydrogen market and positions the group for a potential larger supply contract if the FEED study supports deployment.
Berkeley lifts net cash to £363m but warns London is building a fraction of homes needed
Berkeley Group Holdings (LSE) delivered 4,203 homes in the year to 30 April and closed the period with net cash of £363m, but used its results to warn that London is currently building less than 10% of the homes it requires. The group attributed the shortfall to planning delays, increased tax burdens, and regulatory pressures, framing the supply crisis as a structural constraint rather than a cyclical one.
