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UK small-cap RNS · 5 Mar 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.

  1. 16:57
    Elementis ELM £1,023m
    Preliminary Results - Correction Results
    Adjusted operating profit of $126.7m and a 21.2% margin land marginally above the $125m consensus guided in January, so profit grew on slightly lower revenue through cost savings and pricing.
    Turnaround plan with targets in lineoutlook positivefirst in 7 months −5.3% on the day
    Moved: Elevate Elementis cost savings programme: $18m delivered in 2025; $4m remaining → $18m delivered in 2025; $4m remaining · Pharmaceutical business sale to ABF: agreed; completion expected Q2 2026 → Agreed; completion expected Q2 2026
  2. 15:30
    Director/PDMR Shareholding Director dealing
  3. 13:00
    Update on Loan Agreement
    AdvEn missed the extended 28 February 2026 repayment date on SPDI's loan, now €275,000. The RTO counterparty cannot repay, so the deal is under strain and the heads of terms will likely be amended.
    Large acquisition / reverse takeover first since Oct 2023 +0.0% on the day
    Moved: AdvEn reverse takeover: Non-binding heads of terms; shares suspended → Loan unpaid after 28 Feb; terms being renegotiated
  4. 09:00
  5. 07:32
    Sagebrush Operatorship to be finalised
    BIA's formal approval of the Sagebrush lease assignment clears the main regulatory hurdle, leaving only the operatorship formality before the Sagebrush-1 extended production test can start.
    Project milestones outlook positive +8.6% on the day
    Moved: Sagebrush-1 extended flow test: BIA lease assignment approved; operatorship pending → Lease assignment approved; operatorship pending
  6. 07:05
    OSB Group OSB £1,615m
    OSB GROUP PLC - Share Repurchase Programme
    Starts the new £100m buyback on 6 March 2026, returning excess capital after the earlier £100m programme; CET1 of 15.8% leaves headroom against the 13-13.5% target.
    Capital return £100.0m · 6% of mcapfirst since Oct 2023 +1.2% on the day
    Moved: £100m share repurchase programme: New £100m programme announced → New £100m programme starting 6 March 2026
  7. 07:02
    Sagebrush operatorship finalised. Test to commence
    Extended Production Test at Sagebrush-1 to commence as soon as operatorship is finalised
    Project milestones outlook positive +8.6% on the day
    Moved: Sagebrush-1 extended flow test: Documents in good standing; BIA approval pending → BIA lease assignment approved; operatorship pending
  8. 07:00
    Elementis ELM £1,023m
    Final Results Results
    Adjusted operating profit of $126.7m and a 21.2% margin land marginally above the $125m consensus guided in January, with profit growing on flat-to-lower revenue through cost savings and pricing.
    Turnaround plan with targets in lineoutlook positive −0.5% on the day
    Moved: Elevate Elementis cost savings programme: Margin gains and bolt-on cited as delivery → $18m delivered in 2025; $4m remaining · new: Pharmaceutical business sale to ABF – agreed; completion expected Q2 2026
  9. 07:00
  10. 07:00
    Solar Acquisition and Gas Supply Growth
    Adds a 10 MWp Puglia PV project with 4 MW BESS land, taking the pipeline to about 135.5 MWp toward the 200 MWp target. The EUR 1.05m is paid only at Ready-to-Build, so little cash goes out now.
    Disposal of a part (break-up) outlook positive +8.6% on the day
    Moved: Italian solar development pipeline: Pipeline 120.5 MWp; target 200 MWp → Pipeline 135.5 MWp; target 200 MWp · Partial sale of solar portfolio: Selective monetisation planned; no buyer or terms → Selective monetisation intended; no buyer
  11. 07:00
    Final Results Announcement Results
    NAV per share fell to 99.0c from 110.5c and cash generation dropped to €114.6m, though dividend cover stayed 1.5x and the 2026 dividend target is held at 6.81c.
    Disposal of a part (break-up) £87.0m · 12% of mcapoutlook positive +7.5% on the day
    Moved: new: Asset disposal programme – Programme launched after completed 116MW sale · new: Share buyback and deleveraging – Buyback commencing immediately
  12. 07:00
    Final Results Results
    Underlying operating profit rose to £3.6m from £3.2m on higher gross margin and the dividend is held at 6.0p. Revenue was flat, Denmark made a loss, and 2026 profit is still guided slightly lower.
    Disposal of a part (break-up) outlook mixedfirst in 6 months −2.1% on the day
    Moved: 2026 profit guidance: 2026 underlying operating profit guided slightly lower → Slightly lower profit reaffirmed; in line with market expectations · Surplus property disposals: Hipper House due January; two others agreed subject to contract → £1.0m completed in 2025; remaining sales progressing · new: Refreshed Group strategy and reorganisation – Strategy refreshed; plastics reorganisation in 2026
  13. 07:00
    Results for the year ended 31 December 2025 Results
    The $145-155m 2026 EBITDA range raised in January is only retained, not raised again. It still implies growth on the $135.7m 2025 outturn, with the Middle East flagged as a timing risk.
    Turnaround plan with targets outlook positive −3.1% on the day
    Moved: EMEA restructuring: Losses narrowing; break-even in December 2025 → Savings of c.$11m annualised; Fordoun closure due June 2026 · Share buyback programme: $33.5m of $60m completed → $60m buyback near completion; second $40m proposed · OOR Brazil sampling contract: Strong interest; contribution to subsea targets → OOR integrated into Subsea; strong interest in Americas, Middle East, Africa
  14. 07:00
    Final Results Results
    Revenues up 87% to £2.39 million (FY2024: £1.27 million), with the number of tenant contracts rising 85%, assisted by the continued positive impact of the Company's three-year guarantee product.
    Segment turn £2.4m · 1% of mcapoutlook positive −1.7% on the day
    Moved: Winkworth preferred supplier rollout: Winkworth partnership agreement cited among Q4 partner additions → Agreement signed with Winkworth branches; no volumes stated · new: Renters' Rights Act opportunity – Marketing spend brought forward; partnerships being built
  15. 07:00
    Trading Update Trading update
    FY26 adjusted PBT is guided in line with consensus (£21.6m), so no change to expectations; a challenged new car market and £4-4.5m exceptional costs are offset by aftersales and cost control.
    Disposal of a part (break-up) £12.0m · 5% of mcapin lineoutlook mixedfirst in 6 months +0.5% on the day
    Moved: Complete the £12m buyback programme by 28 February 2026.: pending → delivered – The £12m programme is nearly used (£11.3m spent) and the company launched a further £12m programme. · FY26 results in line with market expectations.: pending → on_track – FY26 adjusted PBT is expected in line with consensus of £21.6m. · Open three new BYD sales outlets by 1 November 2025.: pending → delivered – Three BYD outlets were opened in the Period (Hartlepool, Macclesfield, Morpeth).
  16. 07:00
    Trading update Trading update
    Confirms FY26 guidance of £100m-£115m PBT is on track after the North America accounting scandal, but adds a Middle East passenger-number warning and a stronger cost and cash focus.
    Disposal of a part (break-up) in lineoutlook mixedfirst in 9 months −0.5% on the day
    Moved: Pure-play travel portfolio reset: Exits and reviews announced → Under way: first stores closed
  17. 07:00
    OSB Group OSB £1,615m
    OSB GROUP PLC Preliminary Results Results
    Full-year results met 2025 guidance, but PBT fell to £382.5m from £418.1m and RoTE to 13.7% on an impairment charge, higher costs and lower NII; NIM was 228bps and 2026 RoTE is guided to low teens.
    Capital return £100.0m · 6% of mcapin lineoutlook mixedfirst since Oct 2023 +1.2% on the day
    Moved: £100m share repurchase programme: £67.7m repurchased by 4 November 2025 → New £100m programme announced · MREL requirements clarification: Transfer firm strategy confirmed; MREL equals minimum capital → Transfer strategy confirmed; benefits later · Platform transformation programme: First savings migration begun; Rely launch due November → Rely launched; first savers migrated

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