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UK small-cap RNS · 19 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.

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  1. 17:37
    Holding(s) in Company Holding
  2. 16:45
    Capita CPI £356m
    Holding(s) in Company Holding
  3. 13:07
    US Retail Distribution Contract Award
    Adds a fourth WalkTHRU lane for a global sportswear brand at a new US site, and the Seattle-Tacoma order is confirmed. Both help the order intake the going-concern case relies on, though no values are given.
    Moved: Going concern and cash runway: First year-end order notice received; value unstated → Two small orders received; values undisclosed
  4. 12:00
    Half-year Results Results
    Loss widened to £2.29m from £1.70m on higher admin costs, with revenue hit by a European product delay; cash fell to £124,794 from £2.31m, leaving thin funding.
    Project milestones outlook positive
    Moved: new: Cash runway and funding need – cash £124,794 at period end · new: Pneumonia test NHS launch – development complete, launch planned · new: Bowel cancer testing service launch – launch accelerated, due by 2026
  5. 10:10
    Director/PDMR Shareholding Director dealing
  6. 09:30
    Liberation Bioindustries Series A1 equity round
    Liberation Bioindustries achieves first close of their Series A1 equity round
    Project milestones −2.9% on the day
    Moved: new: Liberation Bioindustries fermentation plant build – Final stages of construction; Series A1 first close
  7. 09:00
    Update on financing for Kabwe transaction
    Only 22.2% of LEM is held, and the $1.05m cash balance still depends on GMI, which has missed dates before. GMI's confirmation to fund throughout December is reassuring, but completion is not yet secured.
    Balance-sheet stress / refinancing outlook mixed8 acquisitions in 3 months – usually about 1 +0.0% on the day
    Moved: Kabwe/LEM acquisition completion: 22.2% held; further tranches await GMI funds → 22.2% held; $1.05m cash balance outstanding · Limited cash and GMI funding reliance: GMI payment slipped again into December → GMI reconfirmed funding, no cash yet
  8. 07:04
    Sproule: Coyote Wash is a major Helium Resource
    Sproule ERCE Confirms Major Helium Resource at Coyote Wash
    Project milestones outlook positivefirst since Oct 2023 +22.6% on the day
    Moved: new: Sagebrush-1 extended flow test – Awaiting BIA approval; engagement positive · new: Sagebrush 3D seismic programme – Acquisition complete; processing under way
  9. 07:01
    Shareholder Consult & Proposed Revised Inv Policy
    Update on Shareholder Consultation and proposed revised Investment Policy
    Moved: No new investments before the 2026 AGM, then none under the wind-down policy: on_track → changed – The no-new-investments stance is now proposed as a permanent part of the revised Investment Policy, subject to an EGM vote in February 2026 rather than only until the AGM. · Shareholder consultation and structural review: Board proposing orderly realisation policy → Dual share class rejected; realisation policy proposed
  10. 07:00
    Offtake Mou Extension Executed
    Extends the non-exclusive Halo offtake MOU by 24 months to August 2028 to cover the CTP assets, but only if that acquisition completes. It is non-binding, with no formal contract or proof of funds.
    Project milestones outlook positive +1.7% on the day
    Moved: Complete the 100% acquisition of Mt Winter and begin re-entry drilling by mid 20: delayed → on_track – CEO's comment refers to completion of the purchase of 100% of Mt Winter, which the dossier showed as still awaiting the Central Land Council draft ALRA. Re-entry timing is not updated. · Central Petroleum re-entry targets acquisition: Conditional SPA signed → Conditional SPA; Halo offtake extended to cover assets · Mt Winter tenement acquisition: Awaiting draft ALRA from Central Land Council → CEO describes purchase as completed
  11. 07:00
    Preliminary Results Announcement Results
    FY25 results confirm the damage already flagged on 19 November: profit down on restated comparatives and flat FY26 guidance. This is not a fresh warning, so it is read as results.
    Disposal of a part (break-up) outlook mixed4 profit warnings in 3 months – usually less than 1 −7.0% on the day
    Moved: Deloitte review remediation plan: Review delivered; remediation plan being implemented → Remediation plan in place, progressing at pace · Group CEO succession: CEO resigned; Board search begun → Interim CEO in place; search continuing · Prior-year accounting restatement: Supplier income and inventory adjustments expected; audit ongoing → Restated comparatives published; further items found
  12. 07:00
    VP VP. £207m
    CEO Appointment Board change
    Closes the CEO search begun in September, naming Alice Woodwark to succeed Anna Bielby from 1 February 2026. She comes from Mitie and Compass, with no stated link to rental, so the announcement gives no view on the Brandon Hire Station turnaround.
    New CEO / reset +3.8% on the day
    Moved: CEO succession: Recruitment in progress → Successor appointed; starts 1 February 2026 (closed)
  13. 07:00
    Trading Update Trading update
    H2 revenue of only about £200k and full-year revenue of about £0.4m show very little commercial traction, while cash of about £1m against a £220k monthly cost base gives only a few months of runway.
    Delisting / take-private £0.4m · 100% of mcapoutlook negativefirst since Oct 2023 −22.2% on the day
    Moved: new: Cash runway and funding – Cash ~£1m vs £220k monthly costs
  14. 07:00
    Pilot Mountain Pre-Feasibility Progress Update
    Maiden S-K 1300 Technical Summary Report Delivers 16% Increase in Open Pit Constrained Indicated Mineral Resources vs 2018 Scoping Study; Drilling Ongoing
    Project milestones outlook positive +8.3% on the day
    Moved: new: Pilot Mountain pre-feasibility study – PFS underway; maiden S-K 1300 resource filed · new: Planned US securities exchange listing – S-K 1300 report submitted to SEC
  15. 07:00
    Annual Report and Audited Financial Statements Results
    Full-year NAV per share rose 21.5% to 171.65p, driven by Starling and the wefox recapitalisation. The discount has still widened to about 37%, which is why the Board is changing the policy.
    Disposal of a part (break-up) £130.7m · 44% of mcapoutlook positive +3.4% on the day
    Moved: Return up to £100m to shareholders through share buybacks, completed by November: on_track → delivered – Buyback returned £102.2m, passing the £100m target. · Complete £100m capital returns by September 2025: delayed → delivered – Only £86m was returned by 30 September 2025; the £100m was passed after year end, so it was late. · wefox will not need further material investment from Chrysalis: pending → missed – The Company put £16.6m into wefox during the year to support its recapitalisation, despite the earlier pledge of no further material investment.

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