UK small-cap RNS · 11 Feb 2026

Moved: Oryx requisition to replace chair: Requisition notice received; no meeting date set → Requisition withdrawn; new requisition signalled

Moved: EQT possible cash offer: Preliminary talks after earlier proposals rejected → Preliminary talks ongoing; PUSU deadline extended

Moved: Reorganisation under RMD Group: Management reshuffled; return to trading pending → Audit due; RTO may delay return · Suspension, going concern and pledged shares: Shares suspended since 1 August 2024 → Shares suspended; FCA preliminary enquiry open · new: Impaired Texas assets review – Site visit done; management report pending

Moved: new: Debt refinancing and possible capital raise – Talks with lenders; options under consideration

Moved: Africa growth plan and guardrails: Review concluded; Capital Markets Event held today → Capital Markets Event held; new targets set

Moved: Ukraine gas-to-power project: First 4.6 MW live; remainder in coming weeks → 4.6 MW live; 7.7 MW in final completion · new: Associated gas-to-power project (0.85 MW) – Fully built; awaiting regulatory approval

Moved: Strategic review and transformation: Modular Solutions discontinued; wider strategy update due 2026 → Permanent CFO appointed; wider strategy pending

Moved: Brandon Hire Station repositioning: Announced; execution under way → Good progress; branches cut to 41, c.400 headcount reduction

Moved: Tender offer: Intention announced; details to follow → Terms set; circular posted; awaiting shareholder approval

Moved: Strategic partnerships and EMR rollout: Tempus AI and MVP agreements signed; more expected → Rollout slower than expected; three integrations live

Moved: Deliver £5-10m cost savings in FY26: pending → on_track – Gross cost savings of c.£5-10m expected in FY26, unchanged, with the majority reinvested in marketing, brand-building and people. · Significantly reduce net debt from £112.0m in FY26: pending → on_track – Net debt fell £27.7m since May 2025. The group expects to end FY26 at about 1.0x net debt/EBITDA, excluding Nigeria cash. · Sell the St. Tropez brand: pending → changed – St Tropez was retained rather than sold in June 2025, with a new strategy and a US partnership with Emerson. US revenue grew 12% while the rest fell over 30%.

Moved: Tulu Kapi project financing and construction: Loan signed; equity documents in final stage → Funding effectively covered; construction mobilising

Moved: Gleeson Land large site sale: Awaiting technical solution; two small sites sold → Three sales done; five H2 promotion agreements expected · FY26 guidance and Budget risk: In line with market expectations → Expectations achievable but dependent on Spring

Moved: Maintain cash in excess of $40m in FY2026.: delayed → changed – Cash now expected at c.$55-60m, well above the previous $40-45m guidance, so the earlier 'delayed' status no longer holds. · Beyond FY2026: 0-5% annual revenue growth, 4-5% adjusted operating margin and ab: pending → on_track – Beyond-FY2026 outlook is unchanged: 0-5% revenue growth and 4-5% margin. Cash generation is now given as $6-8m a year. · CEO recruitment: Recruitment underway → Recruitment still underway

Moved: Three-year turnaround plan: Nearing completion; profitability up, debt down → Management says turnaround executed; now focusing on growth

Moved: new: Ganymede rail and energy contracts – SRE 8-year award; E.ON extended 12 months

Moved: new: Indonesia subsidiary and production line – Binding MOU signed; subsidiary being set up