The last 7 days in UK small caps
8 things that mattered, Fri 30 Oct – Thu 5 Nov – chosen by rule from everything that happened: real news, a market that agreed, companies of £20m or more.
Share price reactions arrive after the close (around 18:00 UK) – until then the cards come from what the companies said.
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1
Big move on news Allergy Therapeutics AGY£253m
Proposed Cancellation of Admission
Board proposes cancellation of AIM listing and re-registration as private company.
−59% on the day -
2
Big move on news Shield Therapeutics STX£61m
Q3 2026 Trading Update
Q3 revenue grew to $11.5M; Shield took full US control of ACCRUFeR from 1 October 2026 but withdrew FY 2026 operating profitability guidance.
−44% on the day -
3
Takeover Mobico Group MCG£268m
Offer for the company
New “Recommended Cash Acquisition for Mobico Group PLC”
AdL's non-binding 46p proposal was backed in principle by the independent directors on 21 Oct 2026. On 30 Oct 2026 it became a recommended firm cash offer from Bidco, valuing Mobico equity at about £308m.
46p in cash · +55% on 29.7p · the board recommends itNext Court Meeting and General Meeting to approve the Scheme +12% on the day -
4
Takeover 80 Mile 80M£59m
Possible offer
New “Extension of PUSU and Amendment to Proposed Terms”
Greenland Energy and 80 Mile agreed indicative all-share terms on 8 Sep 2026. On 3 Nov 2026 the PUSU deadline was extended to 10 Nov. Warrants were dropped and the exchange ratio revised to 0.0079485, valuing 80 Mile at £92.01m.
All-share; revised exchange ratio 0.0079485 new Greenland …Next Rule 2.7 firm offer or walk-away by extended PUSU deadline 10 Nov · in 5 days +9% on the day -
5
Capital return IWG IWG£1,778m
Share buyback and convertible repayment
New “Third Quarter 2026 Trading Statement”
The 2026 buyback began in December 2025 and was raised to $150m on 30 June. The Q3 statement (3 Nov 2026) shows it raised again to up to $200m, with $39m bought in Q3 and $139m in the 9 months.
Worth 36.7% of the market value.Next Complete up to $200m 2026 buyback +9% on the day -
6
Big move on news Aminex (CDI) AEX£81m
Ntorya - Rig Contract Signed
Rig contract signed for Ntorya-3 well drilling with China Petroleum Technology and Development Corporation.
+21% on the day -
7
Disposal FirstGroup FGP£1,112m
West Yorkshire bus franchising
New “Sale of assets and bus franchise contract awards in West Yorkshire”
On 2 Nov 2026 FirstGroup announced it had agreed the £109m sale of five West Yorkshire depots and 330 buses to WYCA, with the depot sales completed.
Next First franchise tranche goes live; fleet sales begin 1 May · in 177 days +7% on the day -
8
big_acquisition Acg Acquisition Company Limited Cls A ACG£359m
Keşkek acquisition
New “ACG to Acquire Blue Moon Norway (Replacement)”
On 3 Nov 2026 ACG agreed to buy 100% of Blue Moon Norway, holding 94.52% of the construction-stage Nussir copper mine, for US$220m in new shares at £18.70 each, about 0.59x the US$375m consensus NAV.
Next General meeting on shareholder approval to issue shares 25 Nov · in 20 days +22% on the day