UK small-cap RNS · 19 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.

Sort: Newest · Largest companies

17:52

KEFI Gold and Copper KEFI £91m
RetailBook Offer
Up to £1m retail offer at 1.2p lets retail holders join the Placing price, but adds more shares on top of heavy December and March dilution, and depends on the Placing and shareholder approval.

Project milestones £1.0m · 1% of mcap −21.8% on the day

Moved: Tulu Kapi project financing and construction: Equity fundraise launched to complete funding → Retail offer open; Placing and General Meeting pending
17:07

KEFI Gold and Copper KEFI £91m
Proposed Equity Fundraise Fundraise
Raises about £34m at 1.2p via accelerated bookbuild, c.28% of existing share capital, on top of heavy December dilution; it completes Tulu Kapi funding, replaces some higher-cost capital and funds exploration and a cost overrun reserve.

Project milestones £34.0m · 37% of mcapoutlook positive −21.8% on the day

Moved: Tulu Kapi project financing and construction: Construction formally started; groundbreaking held 18 Feb → Equity fundraise launched to complete funding
12:17

Mode Global Holdings MODE £0.5m
Unaudited Interim Results – Replacement Results
Replacement interims move the loan-note discharge credit out of administrative expenses into finance income, so admin costs are now £52k, not £1,851k. Revenue is restated to £133k and cash is £132k, down from £369k.

Legal & regulatory +0.0% on the day

Moved: Wind-down and search for acquisition: Winding down; actively considering acquisitions → Wind-down continues; acquisition search ongoing · FCA-supervised customer asset return: Ongoing wind-down; customer campaigns committed to May 2025 → Ongoing return of fiat and crypto deposits
07:00

Kavango Resources KAV £28m
Nara Completion Further Extended
Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa focused metals exploration and gold production company, announced on 1 July 2025 that the Company had exercised the option to acquire 100% of the Nara Gold Project, Zimbabwe, consisting of 45 …

Large acquisition / reverse takeover −3.1% on the day

Moved: Nara Gold Project acquisition: Seller default; funding earmarked for acquisition and litigation → Completion extended again; no new date
07:00

Capital Limited CAPD £265m
Final Results Results
Full-year results confirm the earlier trading update: flat revenue, Operational NPAT slightly lower, but headline NPAT lifted by a $66.0m investment gain. Net debt fell 58% and FY2026 revenue guidance of $410-440m (+23%) was given.

Project milestones outlook positivefirst since Oct 2023 −12.2% on the day

Moved: Reko Diq mining ramp-up: TSF fleet mobilised, commissioning underway → Civils at double shift; TSF fleet commissioning · Equity placing and growth capex: Placing proceeds starting to be deployed → Capex guidance set; net debt reduced · Multi-year contract wins and mobilisations: Awards announced, mobilisation pending → Contracts won; ramp-up underway in 2026
07:00

ECO Animal Health Group EAH £64m
Full Year Trading Update Trading update
Adjusted EBITDA is now 'materially ahead' of consensus (£7.6m), beyond December's 'in line' guidance, driven by better pricing and cost of goods; revenue is only slightly ahead.

Upgrade / downgrade cycle ahead of expectationsoutlook positive, raised +6.2% on the day
07:00

Tinybuild Inc. TBLD £42m
FY 2025 results ahead of expectations Results
Audited FY2025 results confirm the Feb trading update: revenue up 17% and adjusted EBITDA of $5.6m against a $6.1m loss. Guidance is only confirmed (at least in line), not raised.

Upgrade / downgrade cycle ahead of expectationsoutlook positivefirst in 6 months +8.0% on the day

Moved: 2026 game release pipeline: Pipeline building; releases weighted to H2 2026 → Pipeline strong; 7 titles in Steam Top200 wishlist
07:00

LSL Property Services LSL £249m
Final Results Results
Full-year profit of £32.6m (up 17%) lands in line with Board expectations already flagged in January, and the 2026 profit-growth expectation is unchanged rather than raised.

Capital return in lineoutlook positivefirst in 6 months −3.5% on the day

Moved: £12m share buyback programme: Commenced; Shore Capital executing, non-discretionary → Under way; £7m programme complete · AVM contract rollout with large UK bank: First AVM contract signed → First contract signed; partner interest
07:00

Energean ENOG £1,358m
2025 Full Year Results Results
Israel guidance is suspended while the FPSO stays shut, and the 2026 Group production guidance of 145-155 kboed is under review. No duration or financial impact is given, so the earlier outlook can no longer be relied on.

Large acquisition / reverse takeover outlook mixedfirst in 6 months +2.0% on the day

Moved: Angola Block 14 acquisition: Agreement signed; awaiting approvals → Signed; awaiting approvals; closing by end-2026 · Israel production disruptions: New FPSO suspension ordered 28 February 2026 → Production still suspended at 19 March 2026 · Katlan and Irena developments: Pivotal 2026 build year; first gas H1 2027 → Timetable unchanged; suspension impact being assessed
07:00

Afentra AET £196m
Update on Etu Acquisition
A new, smaller SPA replaces the original Etu deal because Sonangol exercised pre-emption. Afentra gets 3.33% in 3/05 and 3.66% in 3/05A for $15.2m net upfront, but completion slips to Q2 2026.

Large acquisition / reverse takeover outlook positivefirst in 9 months +8.9% on the day

Moved: Etu Energias acquisition: Approval ongoing; completion expected Q1 2026 → Restructured with Sonangol; completion expected Q2 2026
07:00

Synthomer SYNT £185m
Trading and refinancing update
FY2025 revenue and EBITDA expectations are reconfirmed unchanged from January and 2026 has started as expected, so the earnings story of resilience without growth continues.

Disposal of a part (break-up) in lineoutlook mixed +44.4% on the day

Moved: Debt refinancing and possible capital raise: Talks with lenders; options under consideration → Constructive lender talks; no equity planned currently · Broadened divestment programme: Pipeline progressing; no new deal announced → Progressing constructively; no deal announced · Cost savings programme: Expanded programmes delivering; 2026 full-year benefit → Self-help actions driving 2026 progress
07:00

Titon Holdings TON £9.3m
AGM Trading Update Trading update
Full-year revenue and profit are still expected in line, but H1 was softer than expected and Hardware sales are now guided down for FY26. The outcome rests on a stronger second half.

Turnaround plan with targets in lineoutlook mixed −2.9% on the day

Moved: Return window and door hardware to growth in FY26: on_track → changed – The company now expects FY26 Hardware sales to fall year on year, against the target of returning Hardware to growth in FY26. · Turnaround and 2028 targets: FY25 margins and EBITDA improved; hardware still not growing → Ventilation growing; Hardware set to decline in FY26
07:00

Angus Energy ANGS £15m
Company Update
Agreement on key terms with Trafigura, the ORRI holders and Forum removes the main going-concern risk flagged since November, but terms are not binding and shares stay suspended until documents are signed.

Balance-sheet stress / refinancing outlook positive +0.0% on the day

Moved: Debt restructuring and going concern: Positive talks ongoing; shares suspended → Key terms agreed; documentation under way
07:00

Sancus Lending Group Limited LEND £9.3m
Final Results Results
New facilities nearly doubled and the loan book grew 29%, driving 32% revenue growth. This is a scaled-up book, led by UK and Irish development and bridging loans. Early 2026 is still growing, but at a slower pace.

Balance-sheet stress / refinancing £22.1m · 238% of mcapoutlook positivefirst in 6 months +37.5% on the day

Moved: Funding facility capacity and maturity: Facility upsized to £300m, extended to 2031 → Pollen Street £300m to 2031; £150m drawn · ZDP tender offer and amendments: Circular published; shareholder approval pending → 2.9m ZDP Shares repurchased; terms adjusted
07:00

Robinson RBN £19m
Surplus Property Update
Completes sale of c.1.3 acres of surplus Walton Works land, with £616,665 net cash going to cut bank debt; proceeds exceed the £540,000 book value, and the sale removes only £7,000 of 2025 rent.

Disposal of a part (break-up) £0.6m · 3% of mcapnext step −2.2% on the day

Moved: Surplus property disposals: £1.0m completed in 2025; remaining sales progressing → Walton Works part completed; other sales progressing
07:00

Focusrite TUNE £134m
Trading Update: Trading in-line with expectations Trading update
Confirms 12-month adjusted EBITDA in line with market expectations, but six-month revenue of about £76m falls below the £77.0-80.1m forecast range. No upgrade; the miss is attributed to the US channel unwind and a strong comparator.

Segment turn in lineoutlook mixedfirst in 6 months +0.0% on the day

Moved: US channel inventory unwind: Moderately elevated stock; unwind expected over 12-18 months → Unwind continuing; Audio Reproduction back to growth · US tariff exposure: Mitigating via pricing and relocation; uncertainty remains → Margins held despite tariffs