UK small-cap RNS · 4 Nov 2025

Every announcement of UK small & mid caps under £2bn. The ones that started or moved a situation are marked – a click opens it.

Sort: Newest · Largest companies

07:30

Kore Potash KP2 £186m
Commencement of Formal Sale Process
Kore starts a formal sale process after two parties made early, non-binding approaches. It needs a strategic partner and funding by November 2025, but there is no price and no firm offer.

Sale process / strategic review outlook mixedfirst since Oct 2023 +3.2% on the day

Moved: new: Formal sale process – Launched; two early non-binding approaches received · Kola Potash financing and early works: Term sheets signed; early works under way → Funding needed by Nov 2025; alternatives under review
07:06

Nanoco Group NANO £4.8m
Extension of Joint Development Agreement
Secures a three-year JDA extension with its Asian chemical customer, with an inflationary fee increase, keeping SWIR quantum dot scale-up funded and contributing revenue in FY26-FY29, ahead of anticipated 2028 production orders.

Project milestones outlook positivefirst in 6 months +0.0% on the day

Moved: Extend Asian chemical customer JDA before October 2025 expiry: pending → delivered – Three-year extension of the Asian chemical customer JDA signed on 4 November 2025, after the October 2025 expiry date in the dossier. · Scale Asian chemical customer's infra-red/quantum dot material to production; pr: pending → on_track – The extended JDA continues scale-up work, and the customer still anticipates production orders in 2028 if successful. · new: Asian chemical customer SWIR JDA – Three-year JDA extension signed
07:01

Chrysalis Investments Limited CHRY £295m
Consultation Process Update
In May 2025, the Board issued a Capital Allocation Update statement, which included a commitment to undertake an independent shareholder consultation exercise led by Rothschild & Co.

Disposal of a part (break-up) £100.0m · 34% of mcap −0.3% on the day

Moved: Return at least 25% of net realised gains on asset sales: pending → on_track – Board says buybacks will continue after the £100m to return at least 25% of profits from realised investments. · No new investments before the 2026 AGM, then none under the wind-down policy: pending → on_track – Board restates that no new investments will be made before the 2026 AGM. · £100m share buyback: £93m returned by 31 October → Nearing completion, due November 2025
07:00

Chrysalis Investments Limited CHRY £295m
Quarterly NAV Announcement and Trading Update Trading update
Quarterly NAV per share fell 1.1% to 171.65p on lower portfolio fair values, partly offset by buyback accretion and FX. Full-year NAV growth was 21.5%, so the quarter is a pause after a strong run.

Overhang outlook positive −0.3% on the day

Moved: Return up to £100m to shareholders through share buybacks, completed by November: pending → on_track – £93m of the up to £100m buyback was completed by 31 October 2025, with the November 2025 deadline approaching. · Complete £100m capital returns by September 2025: pending → delayed – £93m of £100m was returned by 31 October, so the £100m target by September 2025 was not met, though completion looks close. · wefox profitable towards end of 2023 and first full profitable year in 2024: pending → changed – wefox's first full profitable year is now expected in 2025, not 2024 as previously promised.
07:00

IWG IWG £1,745m
3rd Quarter Trading Statement Trading update
Q3 system-wide revenue up 4% with Managed & Franchised up 36% and signings and openings up c.40%+; all FY2025 guidance confirmed, though Company-owned revenue was flat and net debt rose.

Capital return outlook positivefirst in 6 months −2.4% on the day

Moved: new: Managed & Franchised network build-out – Signings and openings up c.40%+ year-over-year · new: Share buyback and convertible repayment – Buyback accelerated; $47m repurchased in Q3
07:00

First Tin 1SN £73m
Taronga Tin Project – Drilling Update
First Tin PLC, a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce the completion of the drilling programme at its 100% owned Taronga tin project ("Taronga") in New South Wales, Australia, operated …

Project milestones ahead of expectationsoutlook positive +0.0% on the day

Moved: Taronga permitting and development approval: EIS submitted September 2025 → Drilling complete; 36 assays outstanding; DFS mid-2026
07:00

Focusrite TUNE £134m
Half-year Results Results
The company only confirms trading is in line with Board expectations, so this is not a raise. Content Creation recovery and tariff mitigation are already in the numbers, and no guidance is lifted.

Segment turn in lineoutlook mixedfirst since Oct 2023 −5.1% on the day

Moved: new: US tariff exposure – Mitigating via pricing and relocation; uncertainty remains · new: US channel inventory unwind – Moderately elevated stock; unwind expected over 12-18 months