UK small-cap RNS · 25 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.

Sort: Newest · Largest companies

11:33

City of London Investment Group CLIG £217m
Director/PDMR Shareholding Director dealing
07:04

Cobra Resources COBR £35m
Result of Fundraise Fundraise
Fundraise of £4.68m gross at 4.0p (placing £1.68m plus £3m subscription, directors included) funds faster Manna Hill drilling and Boland pre-feasibility; it dilutes holders by about 12.5%, but the announcement states no discount.

Project milestones £4.7m · 13% of mcapoutlook positivefirst since Oct 2023 −1.2% on the day

Moved: Manna Hill Blue Rose drilling: Initial assays from 4 of 18 holes reported → Funded; initial assays from 4 of 18 holes reported · Boland ISR development: Optimised MREC produced; offtake samples await radionuclide tests → Funded for pre-feasibility; resource drilling well advanced
07:00

Pharos Energy PHAR £121m
2025 Preliminary Results Results
Production met guidance and net cash doubled to $40.2m with the dividend up 10%, but revenue fell to $114.6m, cash costs rose and the group swung to a $6.6m loss.

Disposal of a part (break-up) in lineoutlook positivefirst in 6 months +1.9% on the day

Moved: Vietnam six-well drilling programme: Two TGT infills on production; three wells under way or pending → Three infills drilled; TGT-18X testing; CNV-5X drilling · Egypt concession and work programme: Rig secured; preparations under way → Concession approved; El Fayum rig secured; ratification pending · Blocks 125 & 126 farm-in: Advanced-stage discussions with potential partners → Formal farm-out process ongoing; discussions continue
07:00

W.A.G Payment Solutions EWG £729m
Final Results Results
FY2025 net revenue of €330.1m (+12.9%) matched guidance, adjusted cash EBITDA of €98.0m beat the ~€95m guided at the half-year, and leverage fell to 1.9x. The cash beat is the upside.

Transformational contract / build-out in lineoutlook positivefirst in 6 months +10.3% on the day

Moved: Eurowag Office customer migration: On track; 2026 is the migration year → 35% of customers active; migration year
07:00

TT Electronics TTG £331m
Final Results Results
The Components strategic review is complete and the Board is weighing options including a disposal, subject to market conditions. No sale is agreed, so this is a possible exit, not a deal.

Turnaround plan with targets in lineoutlook mixedfirst in 11 months +5.4% on the day

Moved: 2025 adjusted operating profit of £32m-£40m (consensus £33.7m).: on_track → delivered – FY2025 adjusted operating profit of £37.2m (organic basis) is within the £32m-£40m range and above the £33.7m consensus. · Close Plano, Texas site by end of 2025.: on_track → delivered – Plano production stopped at the end of 2025 as planned; equipment divested and final deliveries are being completed. · Deliver margin improvement in H2 2025.: pending → delivered – Management reports materially improved second-half performance after the actions taken.
07:00

Franchise Brands FRAN £289m
Final Results Results
FY2025 EBITDA of £35.2m landed within the £33.8m-£35.3m expectations, at the top end. Adjusted PBT rose 12% and leverage fell to 1.6x, but 2026 trading is varied and European volumes are subdued.

Disposal of a part (break-up) outlook mixedfirst in 7 months +5.8% on the day

Moved: One Franchise Brands IT rollout: Good progress reported; rollout continuing → Finance system and CRM live; Pirtek system in development · Share buy-back programme: Intention announced, subject to consents → Still intention; consents awaited, replaces £5m programme · new: Review of non-core business disposals – Board actively reviewing strategic fit
07:00

Luceco LUCE £300m
2025 Full Year Results Results
Continued momentum in Energy Transition drives 2025 profit growth and strong outlook 2026 earnings expected ahead of market consensus

Upgrade / downgrade cycle ahead of expectations +8.4% on the day
07:00

Kore Potash KP2 £186m
Financial Results for Year Ended 31 December 2025 Results
The headline profit comes from an unrealised FX gain on XAF-denominated assets, not trading. Cash outflows rose to USD13.2m, though year-end cash improved to USD10.6m after the placings.

Balance-sheet stress / refinancing outlook mixedfirst in 6 months +0.0% on the day

Moved: Formal sale process: One bidder in due diligence; minority clean-up → One bidder left, in due diligence · Kola Potash financing and early works: Early works progressing; financing unsigned; cash raised → Early works progressing; financing still unsigned · Kola ESIA update and new DUP: Paused; social baseline left incomplete → Slowed; design changes may affect relocation plan
07:00

Kenmare Resources (CDI) KMR £200m
2025 Preliminary Results Results
Full-year results confirm the earlier warnings: adjusted EBITDA down 63% to $58.0m, an adjusted loss after tax, a $301.3m impairment and a suspended final dividend, with net debt up to $158.8m.

Legal & regulatory outlook mixed −11.4% on the day

Moved: Moma Implementation Agreement extension: Tax Authority imposing terms; arbitration possible → Constructive negotiations; arbitration still possible · WCP A upgrade and Nataka transition: Final commissioning; extra bottlenecks being rectified → Construction complete; commissioning challenges remain · Value over volume, inventory drawdown: 2026 guidance set, production cut to run down stock → Drawdown under way in Q1 2026
07:00

Crism Therapeutics Corporation CRTX £7.0m
Phase 2 Clinical Trial Progress Update
First clinical batch of ChemoSeed is manufactured to cGMP, a real step towards dosing, but first patient dosing guidance is extended to H1 2026 because timing is hard to predict.

Project milestones outlook mixed, loweredfirst since Oct 2023 −11.8% on the day

Moved: Irinotecan-ChemoSeed glioblastoma Phase 2: Registration-grade Phase 2 under way; ODD granted → First batch made; dosing guided to H1 2026