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UK small-cap RNS · 13 Jan 2026

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. 12:53
    Holding(s) in Company Holding
  2. 12:51
    Holding(s) in Company Holding
  3. 11:52
    Holding(s) in Company Holding
  4. 10:46
    Placing and Operational Update Fundraise
    With GMI funds in, Shuka expects shortly to complete the 100% LEM/Kabwe purchase after months of missed funding dates; completion itself is not yet announced.
    Balance-sheet stress / refinancing £1.0m · 16% of mcapoutlook mixed10 acquisitions in 3 months – usually about 1 −22.7% on the day
    Moved: Kabwe/LEM acquisition completion: Funds received; completion payment being arranged → Funds received; completion expected shortly · Limited cash and GMI funding reliance: GMI funds received; reliance continues → Eased by GMI loan and £1.0m placing
  5. 10:45
    Receipt of funding for Kabwe transaction
    GMI's £815,000 has arrived after repeated missed dates, so Shuka can now pay the $1.05m LEM balance and issue the remaining shares, moving the Kabwe deal toward 100% ownership.
    Balance-sheet stress / refinancing £0.8m · 13% of mcapoutlook positive11 acquisitions in 3 months – usually about 2 −22.7% on the day
    Moved: Kabwe/LEM acquisition completion: GMI payment instructed; funds not yet received → Funds received; completion payment being arranged · Limited cash and GMI funding reliance: Payment instruction received; cash not yet in → GMI funds received; reliance continues
  6. 09:45
    Capita CPI £356m
    Holding(s) in Company Holding
  7. 07:01
    £1.19m Equity Fundraise & Conversion of Loans Fundraise
    Issues 19.375m shares at 4p, a 9.1% discount to the 4.40p close, with warrants attached; dilutive, though it funds Jelani and drilling work. Part of a wider £1.19m raise.
    Disposal of a part (break-up) £0.8m · 7% of mcapfirst in 9 months −5.7% on the day
    Moved: new: Jelani joint venture and mining licence – Funded; study and licence preparation under way · new: USA projects strategic options review – Assessment ongoing
  8. 07:00
    Trading Statement Trading update
    Revenue is flat at c. £2.1m, but admin costs fell 27% and the Group traded profitably in Q4. Management says the result is ahead of its expectations, which supports the turnaround. Forward contracted revenue is lower, at £1.9m against £2.5m.
    Turnaround plan with targets ahead of expectationsoutlook positivefirst in 11 months +17.9% on the day
    Moved: ARM's trading cash generative by 31 December 2024.: pending → delivered – The Group traded profitably in October, November and December 2025, so trading was cash-generative or better by end 2024's target was not stated, but Q4 2025 profit is reported. · Significant progress towards cash-generative and profitable trading by end of 20: pending → on_track – Profitable trading in Q4 2025 and a 27% cost reduction; profit is reported, but cash generation is not stated for the full year. · Deliver a further £300k a year of cost savings by end 2025.: pending → on_track – Administrative costs fell 27% in 2025 and Q4 annualised overheads were £1.8m, though the £300k saving is not tied explicitly.
  9. 07:00
    Q4 2025 Corporate Update
    FY 2025 Revenue and EBITDA expected to Exceed Market Expectations1
    Upgrade / downgrade cycle ahead of expectations +7.7% on the day
  10. 07:00
    SIG SHI £109m
    2025 Full Year Trading Update & Strategy Framework Trading update
    FY25 underlying operating profit of c£32m (£7m above prior year) matches market expectations, helped by cost cuts, but H2 demand softened and recovery is delayed, so there is no upside surprise.
    Upgrade / downgrade cycle in lineoutlook mixedfirst in 10 months +1.6% on the day
    Moved: Deliver FY25 underlying operating profit in line with market expectations: pending → delivered – FY25 underlying operating profit expected at c£32m, in line with market consensus of £31.1m. · French like-for-like growth to improve over the rest of 2025: pending → missed – French LFL sales fell in both halves, with H2 no better than H1 in Roofing and little better in Interiors. · Reach 5% operating margin over the medium term: pending → changed – The Vision 2030 framework now targets a 3%-5% through-the-cycle operating margin, not a plain 5% over the medium term.
  11. 07:00
    Full Year Trading Update Trading update
    FY2025 revenue of £68.0m and headline operating profit of £5.1m fall well short of the £73.0m and £8.5m consensus, as major project completions slipped into H1 2026.
    Turnaround plan with targets below expectationsoutlook mixedfirst since Oct 2023 −10.8% on the day
    Moved: new: Agency consolidation and simplification – Consolidation announced; savings to be delivered
  12. 07:00
    Strong FY 25 performance: 18% cc bookings growth
    Adjusted EBITDA is now projected ahead of market expectations, with FY25 constant-currency revenue growth of 20% against 18% consensus. This follows a short-seller attack and eases concern about the business.
    Legal & regulatory ahead of expectationsoutlook positivefirst in 6 months +11.7% on the day
    Moved: new: Italian AGCM consumer-code probe – Draft Statement of Objections received; responding
  13. 07:00
    2025 Full Year Trading Statement Trading update
    2026 EBITDA guidance of $145-155m is above the 2025 outturn of c.$135m, and the Subsea 2030 revenue target is raised from $250m to $470m, though the raise leans on M&A and OOR.
    Turnaround plan with targets outlook positive, raisedfirst since Oct 2023 +1.0% on the day
    Moved: EMEA restructuring: Netherlands and Norway closed; Dubai facility opened → Losses narrowing; break-even in December 2025 · Share buyback programme: 3,510,198 shares bought for c.$15.6m to 21 October → $33.5m of $60m completed · Bolt-on acquisition search: Reviewing opportunities in subsea and well completions → M&A now built into raised subsea target
  14. 07:00
    1st Quarter Results Results
    Q1 net inflows of £1.0bn (+11%) and record FUD continue the FY25 momentum despite Budget-related pension switching, and the c.3% cost growth guidance is reiterated.
    Turnaround plan with targets outlook positive −3.0% on the day
    Moved: Group-wide cost review implementation: Review completed, implementation under way → Implementation under way; guidance reiterated
  15. 07:00
    Pilot Plant Commences Operations in Johannesburg
    Pilot Plant Commences Operations in Johannesburg for Final Phase of Process Test Work
    Project milestones outlook positive +2.2% on the day
    Moved: Phalaborwa DFS and financing: Flowsheet finalising; DFS pending, timetable maintained → Final pilot plant operating; DFS being finalised
  16. 07:00
    Year-end Trading Update Trading update
    Raspberry Pi, a leader in low-cost, high-performance computing, today provides an update on trading for the financial year ended December 2025 (FY2025) and the outlook for FY2026.
    Upgrade / downgrade cycle ahead of expectationsfirst since Oct 2023 −2.1% on the day
  17. 07:00
    Trading Update Trading update
    ("Brave Bison" or the "Company", together with its subsidiaries "the Group")
    Upgrade / downgrade cycle ahead of expectations +2.5% on the day
  18. 07:00
    Production Report Q1 FY2026
    Q1 volumes fell on weather and mine sequencing, but PGM prices and recoveries improved year on year. Net cash fell to US$47.0m as Tharisa funds Karo, so the update is mixed.
    Project milestones outlook positivefirst in 6 months +0.0% on the day
    Moved: Karo bond refinancing: Bondholders approved extension; effective 1 December 2025 → Extension effective; Tharisa funding Karo further

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