Zeus Capital

All research provided by Zeus is sponsored by the issuer and is therefore specifically exempt from the inducement rules. The research is therefore freely available to all Institutional Investors.

Zeus is an independent investment banking boutique, providing the highest quality advice to clients across a range of sectors and transactions. £3.6bn+ has been raised by Zeus as Sole or Joint broker and/or book-runner over the last four years. Our expertise enables us to guide companies through the often complex process of making acquisitions, selling a business, management buy-outs/ins and IPOs. Zeus acts as Nominated Adviser and Broker on public market admissions, along with offering continued support to AIM listed businesses.

Regulatory Information

  • Regulatory Status: Zeus Capital Ltd is authorised and regulated by the Financial Conduct Authority; approved as a Nominated Adviser and Broker by the AIM Market of the London Stock Exchange
  • ID Number: 224621

Charlie Cullen
  • Charlie Cullen

Petards (PEG LN) - Improving outlook into FY26 - Corporate

Petards’ full year trading update to 31 December reflected a solid performance from the group following recent challenges, with cautious optimism over an improvement in trading over FY26E. Results for FY25E are expected to be in line with Zeus forecasts at the EBITDA level, showing improvement across the board over FY24A. Revenue growth and margin improvement were supported by the prior year Affini acquisition and better trading in both the Rail and Defence businesses. Looking forward, we expect...

Carl Smith
  • Carl Smith

Dillistone Group (DSG LN) - Fundraise and FY25 update - Corporate

Dillistone’s announced £1.45m fundraise will, in our view, strengthen the balance sheet and provide the platform to pursue acquisition opportunities and capitalise on growth potential from existing software products. Management’s comments in the 4 February announcement on current trading and a positive outlook, driven by growth in Talentis, were also highly encouraging. Whilst Zeus forecasts are withdrawn until further details are received of the new strategy, our optimism has improved on the gr...

Bob Liao ... (+2)
  • Bob Liao
  • Carl Smith

tinyBuild (TBLD LN) - FY25 ahead of expectations and strong pipeline ...

tinyBuild’s FY25 trading update shows that adjusted EBITDA and net cash are expected to be well ahead of prior Zeus forecasts. The Group had a strong finish to the year, despite delaying a major release to optimise the game, and has managed its cash balance well, providing the flexibility to further invest in enhancing planned new releases. Net cash (ex. leases) of at least $4.0m at 31 December 2025 shows a significantly strengthened balance sheet versus our prior forecast of $2.1m. Zeus’ foreca...

David Seers
  • David Seers

Celsius Resources (CLA LN) - Exploration permit renewal - Corporate

Celsius has reported that the Philippine Mines and Geosciences Bureau has approved the first renewal of its Botilao Exploration Permit.

David Seers
  • David Seers

Strategic Minerals (SML LN) - Positive drill results - Corporate

Strategic today released the latest drill results from the recently completed Redmoor drill programme. In addition to further high‑grade tungsten and tin intervals, these results are particularly encouraging as they confirm that the mineralised sheeted vein system (SVS) extends into an Exploration Target beyond the current resource envelope.

ZEUS PODCAST: A Different Perspective podcast: Simon Young, Experience...

A Different Perspective podcast Nick Searle speaks to Simon Young, UK Fund Manager. An extremely experienced portfolio manager, Simon has focused on income mandates for many years. Following Cambridge University, Simon joined Mercury Asset Management which became Blackrock, and has also worked at Aviva and AXA Asset Management. Simon and Nick discuss Simon’s background and career progression, the appeal income mandates and cash generative companies and views on how macro headwinds will affect ...

ZEUS PODCAST: A Different Perspective podcast: Hugh Hendry, The Acid C...

This week the legendary Acid Capitalist Hugh Hendry joins Nick for a truly different perspective. Previously at Baillie Gifford and Odey Asset Management Hugh’s Eclectica macro hedge fund was famously up 50% in 2003 and up 50% in the month of October in 2008. Monikered as a contrarian investor, Hugh certainly has some very different views as Nick runs through a tally of macro thoughts and themes.

ZEUS PODCAST: A Different Perspective podcast: Richard Howarth

In this episode, Zeus' Nick Searle, Equity Sales Director, speaks to ex-hedge fund manager, Richard Howarth. Richard had a very successful career at Brewin Dolphin, Clerical Medical and Insight yet decided to retire six years ago as ‘money can’t buy you time’. Richard now lives in Switzerland skiing in the winter and climbing in the summer whilst continuing to invest in the markets. In A Different Perspective podcast, Nick Searle, Equity Sales at Zeus, speaks to interesting characters within f...

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