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UK small-cap RNS · 18 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.

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  1. 18:29
    Holding(s) in Company Holding
  2. 16:42
    Proposed Fundraise to raise approximately £35m Fundraise
    Raises about £35m at 18p, below the 20p indicated a day earlier, to create liquidity and unlock lender covenant amendments; it is dilutive (up to c.14% new shares) and not underwritten.
    Disposal of a part (break-up) £35.0m · 9% of mcap +7.1% on the day
    Moved: Equity fundraise and lender covenants: Indicative support above £24m at 20p → Fundraise launched at 18p; bookbuild under way
  3. 13:13
    Extension to deadline under Rule 2.6(c)
    On 24 January 2026, the Company announced that each of Bridgepoint Advisers Limited ("Bridgepoint") and Triton Investment Advisers LLP ("Triton") are amongst the parties in discussions with the Company in the context of the strategic review announced on 18 …
    Takeover target next step +0.0% on the day
    Moved: Strategic review and possible sale: Bridgepoint and Triton named; preliminary talks → Talks ongoing; PUSU deadline extended a month
  4. 12:17
    Tulu Kapi Groundbreaking Ceremony
    The ceremony, formally marking the start of construction, was attended by His Excellency Abiy Ahmed Ali (PhD) Prime Minister of the Federal Democratic Republic of Ethiopia and His Excellency Shimelis Abdisa, President (Chief Administrator) of the Oromia …
    Project milestones +6.2% on the day
    Moved: Tulu Kapi project financing and construction: Funding effectively covered; construction mobilising → Construction formally started; groundbreaking held 18 Feb
  5. 12:00
    Holding(s) in Company Holding
  6. 07:05
    Contract Extension with Johnson & Johnson
    J&J extends the IBD programme six months to mid-2026 on the same terms after engagement and satisfaction metrics were met, and widens patient enrolment channels, giving small but recurring fixed-fee revenue.
    Balance-sheet stress / refinancing outlook mixed +111.1% on the day
    Moved: Cash runway and fundraising: Convertible approved 20 Jan; runway to late Q1 → Notes approved; runway to late Q1 2026 · New CRO collaborations: ICON launching into sites; PSI implementing → ICON deploying; PSI implementing
  7. 07:00
    Renewal of Contract
    36-month renewal by a long-standing, deeply integrated customer adds recurring revenue visibility after the loss of ~12% of ARR to a break clause; no contract value is given, so the scale is unclear.
    Turnaround plan with targets +8.8% on the day
    Moved: Turnaround and churn reduction: Turnaround hit by loss of 12% of ARR → Renewal adds retention, but 12% ARR loss remains
  8. 07:00
    Contract
    Building wins places on the DfE's £15.4bn CF25 framework: high value lots across England plus low value lots in London, South East and South West. This gives access to education work over six years, though volume is not guaranteed.
    Transformational contract / build-out £15,400.0m · 2281% of mcap +1.1% on the day
    Moved: new: DfE CF25 education framework – Appointed to high and low value lots

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