Today in UK small caps
5 things that mattered – 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
Takeover Mkango Resources MKA£133m
Nasdaq listing via CPTK SPAC merger
New “Effectiveness Of Form F-4 Registration Statement”
Mkango's subsidiary Mkango Rare Earths Limited (MKAR) plans a business combination with SPAC Crown PropTech Acquisitions (CPTK), first announced on 3 Jul 2025.
Next CPTK shareholder vote on the business combination 25 Nov · in 20 days -
2
Capital return OSB Group OSB£1,596m
Tender offer
New “OSB GROUP PLC - Trading update for the nine months to 30 September 2026”
OSB Group: tender offer of £300m and £400m, 18% of the market value – proposed (5 Nov 2026).
Worth 18% of the market value.Next Complete buyback no later than 6 March 2027 6 Mar · in 121 days -
3
Sale process Morgan Advanced Materials MGAM£721m
Thermal Products strategic review
New “Q3 Trading Update”
Strategic review of Thermal Products, including a potential disposal, began in March 2026. At H1 (6 Aug 2026) options were being prepared.
Next Further update in due course, as appropriate -
4
Profit outlook Vistry Group VTY£829m
Return to net cash
New “Trading Update”
Net debt was £468.8m at 30 June 2026. On 24 Sep 2026 the year-end target was cut to broadly neutral cash and banks waived FY26 and HY27 interest cover covenants. On 5 Nov 2026 Vistry began refinancing its £900m term loan and RCF.
Next Refinancing of £900m term loan and RCF; FY26 results 3 Mar · in 118 days -
5
Profit outlook Morgan Sindall Group MGNS£1,889m
Profit upgrade
New “Trading and Outlook for 2026”
Guidance for 2026 was lifted on 12 Feb and 16 Apr 2026 and held at the 23 Jul half-year results.
The third upgrade in 12 months.Next full-year 2026 results 24 Feb · in 111 days