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UK small-cap RNS · 12 Dec 2025

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

Key = all announcements except routine filings (voting rights, buybacks, holdings, director forms), plus the ones that are part of a situation. Not investment advice.

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  1. 14:45
    Update on Beisa Uranium and Gold Mine Acquisition
    Neo Energy Metals plc / LSE: NEO, A2X: NEO / Market: Main Market of the London Stock Exchange
    Project milestones £50.4m · 343% of mcapoutlook positive +0.0% on the day
    Moved: Beisa Mine restart: Implementation assessment; new CFO to help build team → Implementation Assessment under way; four-phase plan set · Beisa Mine acquisition: Conditional agreement; conditions outstanding → Conditional; approvals expected Q1 2026
  2. 07:28
    Half-year Results Results
    Interim loss of $32.1m on $18.8m vessel impairment and $22.6m depreciation, but adjusted EBITDA of $18.2m, bank debt fully repaid and vessels outperforming indices.
    Disposal of a part (break-up) 193% of mcapoutlook mixedfirst since Oct 2023 −0.6% on the day
    Moved: Managed realisation vessel sales: Fleet largely liquidated; surplus cash being returned → 21 sales in period; eight owned vessels, falling to seven · Partial compulsory redemption return: Announced; circular due January 2026 → c.$150m distribution planned; circular due January 2026 · Strategic options review 2026: Options being evaluated after the return → Options under consideration after the capital return
  3. 07:24
    Proposed Compulsory Redemption
    After selling most of the fleet in 2025, the company returns about $143.4m via pro rata partial compulsory redemption in Q1 2026. Cash goes to shareholders while a cash buffer is retained for operations.
    Disposal of a part (break-up) outlook mixed −0.6% on the day
    Moved: Managed realisation vessel sales: 50 disposals agreed; two more completing by December → Fleet largely liquidated; surplus cash being returned · new: Partial compulsory redemption return – Announced; circular due January 2026 · new: Strategic options review 2026 – Options being evaluated after the return
  4. 07:01
    Capita CPI £356m
    Trading Statement Trading update
    Full-year divisional growth is trimmed (Public Service now slightly below mid single digit, Contact Centre down a high teen %), but margin, free cash flow, debt and medium-term targets are unchanged and £250m savings are delivered.
    Disposal of a part (break-up) outlook mixedfirst in 2 years −1.1% on the day
    Moved: Deliver £250m annualised cost savings by December 2025: pending → delivered – Company states it has delivered its targeted £250m of annualised cost savings. · Achieve positive free cash flow from end of 2025: changed → on_track – Guidance on free cash flow, including the £14m ICO settlement, is stated as unchanged. · Reach 6%-8% adjusted operating margin in the medium term: pending → on_track – Medium-term targets, including the margin target, are stated as unchanged.
  5. 07:00
    Authority for allotment of New Shares
    The Board seeks authority to issue up to 610m shares (about 10% of share capital) without pre-emption rights, which would dilute holders. No raise is agreed yet; price, amount and investors are all unset.
    Project milestones first since Oct 2023 −4.7% on the day
    Moved: new: Potential equity raise – Authority sought; no investors or terms agreed · new: Hong Kong dual listing – Announced 6 Nov 2025; expected first half 2026
  6. 07:00
    MCB defines maiden JORC Ore Reserve Estimate
    A maiden JORC Ore Reserve of 130.2 Mt gives the MCB project a reportable reserve base for the updated Feasibility Study mine plan and supports the financing talks. Celsius holds only a 40% working interest.
    Legal & regulatory first since Oct 2023 +0.0% on the day
    Moved: new: MCB copper-gold project development – Maiden JORC Ore Reserve defined · new: Sodor 60% MCB interest transfer – Conditions still outstanding since March 2023
  7. 07:00
    Exceptional Iyan Deep Hole Highlights Scale
    Exceptional First Deep Hole at Newly Identified Iyan Deposit Confirms Major Mineralised Zone at Orom-Cross
    Project milestones ahead of expectationsoutlook positivefirst since Oct 2023 +2.1% on the day
    Moved: Lyan and Beehive exploration assays: JORC update scheduled for early 2026 → First of six deep-hole assays received
  8. 07:00
    Half year trading update Trading update
    Board expects full-year FY2026 in line with market expectations (revenue £55.5m, EBITDA £10.9m consensus), backed by H1 contract wins. Guidance is confirmed, not raised.
    Transformational contract / build-out £13.4m · 2% of mcapin lineoutlook positivefirst since Oct 2023 +0.7% on the day
    Moved: new: European defence prime contract – Contract secured; delivery ahead · new: SpaceX E-band GaN contract – Largest-ever contract awarded; first deployment · 550W Ka-Band SSPA development: NSIP funding awarded; development starting → £1.2m funding awarded; development under way
  9. 07:00
    Update on proposed acquisition
    Pristine Capital Plc / EPIC: PRIS / Market: LSE
    Cash shell / net cash above market value £10.0m · 1429% of mcapoutlook negative +0.0% on the day
    Moved: new: Property portfolio acquisition – Abandoned after vendor withdrew · new: Funding and legal action – Reviewing finances; listing suspended · new: Search for initial transaction – Remains a shell; no target
  10. 07:00
    Capita CPI £356m
    Statement re closed book Life & Pensions
    Capita hands the last two legacy Life & Pensions contracts back to Royal London, ending a long-running drag, but pays about £22.47m upfront (cash or c.4.96% new shares), £30m later, and expects £100m free cash outflow over five years.
    Disposal of a part (break-up) £22.5m · 6% of mcapoutlook mixed −1.1% on the day
    Moved: Achieve positive free cash flow from end of 2025: pending → changed – The Life & Pensions exit adds an expected £20m annual free cash outflow for five years, a new drag on cash flow, though its adjusted-results treatment is separate. · new: Closed book Life & Pensions exit – Transition agreement signed; five-year migration

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