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UK small-cap RNS · 17 Feb 2026

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. 17:36
    Proposed Placing, Subscription & Acquisition Fundraise
    Funds completion of the binding Gardner Retail deal (six forecourts) and adds a second binding deal, DAR, with 98.3m litres of fuel sales. Both are stated to be immediately accretive to underlying earnings, accelerating the forecourt roll-up.
    Disposal of a part (break-up) £20.0m · 20% of mcapoutlook positive3 acquisitions in 3 months – usually less than 1 −7.1% on the day
    Moved: Gardner Retail acquisition: SPA signed; £2.25m deposit paid → Funding via £20m placing; completion pending · new: D.A. Roberts Fuels acquisition – Binding SPA signed; awaiting completion · Cambridge Sleep Sciences exit: Put option amended into three tranches → Put exercise intended March 2026
  2. 15:58
    Holding(s) in Company Holding
  3. 11:51
    Further update on Kazakhstan withholding tax
    The Appeal Board rejected ZKM's challenge to the 2018 and 2019 tax audit claims, so the liability of about US$71m stays alive while the company is restructuring debt due June 2026. Court appeals follow.
    Legal & regulatory +0.3% on the day
    Moved: Kazakhstan withholding tax disputes: Appeal hearing scheduled; claims about US$71m → Appeal Board rejected 2018-2019 appeal
  4. 08:02
    Further Investor Support for Planned Fundraise Fundraise
    Directors and institutions now indicate over £24m of support for the planned raise at 20p, backing the fundraise that unlocks lender covenant changes. It is still indicative, and the raise dilutes shareholders.
    Disposal of a part (break-up) £24.0m · 6% of mcap −16.0% on the day
    Moved: Equity fundraise and lender covenants: Planned, shareholder soundings, lender talks advanced → Indicative support above £24m at 20p
  5. 07:00
    Contract
    Adds a three-year British Government contract of £178,497 from a new user within an existing customer, building forward contracted revenue after the bank renewal; first-year value is only £70,499.
    Turnaround plan with targets £0.2m · 3% of mcapoutlook positive −5.4% on the day
    Moved: Cost-led turnaround to profit: Turnaround continuing; contracted revenue rebuilt above £2m → Turnaround continuing; contract wins adding to revenue
  6. 07:00
    Project Vault Participant Traxys Signs Offtake MOU
    A non-binding MOU with Traxys, a Project Vault procurement house, gives Kasiya graphite a potential marketing route to US strategic buyers. No binding agreement, price or firm order exists yet, and Rio Tinto's rights apply.
    Project milestones first since Oct 2023 +6.8% on the day
    Moved: new: Kasiya graphite marketing agreement – Non-binding MOU signed
  7. 07:00
    Response to Speculation and Planned Fundraise Fundraise
    Planned c.£35m equity raise at 20p to cut net debt/EBITDA to c.2x within FY27 and unlock revised lender covenants, but it dilutes shareholders and the discount to the market price is not stated.
    Disposal of a part (break-up) £35.0m · 9% of mcapoutlook positive −16.0% on the day
    Moved: new: Equity fundraise and lender covenants – Planned, shareholder soundings, lender talks advanced · Disposals and warehouse exits: Non-core sales advancing; PLT removed from sale → PLT retained; Burnley sale and US lease exit pending · Marketplace turnaround: Ahead of plan; all brands profitable; PLT turnaround → All brands profitable; cost out ahead
  8. 07:00
    Vessel Sales
    The Handysize sale agreed on 24 October 2025 has now completed, bringing in $15.3m of gross proceeds. A new Handysize sale has also been agreed, so the managed realisation continues.
    Disposal of a part (break-up) next step +2.9% on the day
    Moved: Managed realisation vessel sales: 50 disposals executed; one sale still to complete → Previous sale completed; new sale agreed · Partial compulsory redemption return: Terms set; record date 30 Jan, payment c.13 Feb → Completed 2 February 2026 (closed) · Strategic options review 2026: Pending the return of capital → Return completed; review continuing
  9. 07:00
    Results of Capital Raise Results
    Raise proceeds fund two German defence-related acquisitions (c. €130m, blended 7.6% EPRA NIY) now in exclusivity; not yet notarised, so the deal is not signed.
    Large acquisition / reverse takeover £77.0m · 5% of mcapin lineoutlook positive5 acquisitions in 3 months – usually about 2 +4.0% on the day
    Moved: Capital raise for acquisitions: Bookbuild running; retail offer launched → Priced and allocated; admission pending (closed) · German defence-related acquisitions: In exclusivity; funded by capital raise → In exclusivity; funding secured
  10. 07:00
    H1 FY26 Trading Update Trading update
    Applied Nutrition plc, a leading sports nutrition, health and wellness brand, today announces an update on trading for the six months ended 31 January 2026 ("H1 FY26").
    Upgrade / downgrade cycle ahead of expectations +6.2% on the day
  11. 07:00
    Acquisition
    Buys Luxembourg-based closed life book Scottish Widows Europe for €110m cash, at 0.64x its Own Funds, adding ~€250m lifetime cash generation and a European consolidation platform just after the HSBC Life deal.
    Large acquisition / reverse takeover outlook positive +5.2% on the day
    Moved: new: Scottish Widows Europe acquisition – Agreed; completion expected around end 2026
  12. 07:00
    Contract Uplift
    An £11m uplift from HM Land Registry, an existing customer, adds visible public-sector work. It follows the NHS England and DEFRA awards as the turnaround shifts to growth. Term and phasing are not stated.
    Turnaround plan with targets £11.0m · 12% of mcap +1.5% on the day
    Moved: Three-year turnaround plan: Turnaround executed; growth wins building (NHS England, DEFRA) → Growth wins building: NHS England, DEFRA, HMLR
  13. 07:00
    Half-year Results Results
    NAV per share rose 11.7% to 13.78p and profit swung to £10.0m, but gains are largely unrealised revaluations after the Meatable write-off, with shares at a 55% discount and cash only £2.2m.
    Project milestones outlook positivefirst since Oct 2023 +4.1% on the day
    Moved: BlueNalu cultivated bluefin tuna launch: CPN round at initial closing; regulatory engagement ongoing → CPN initial closing done; stake increased · BlueNalu lock-in on Agronomics shares: New shares admitted around 7 January 2026 → Shares issued; NAV uplift booked · Liberation Bioindustries fermentation plant build: Final stages of construction; Series A1 first close → Nearing completion; first tranche closed

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