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UK small-cap RNS · 30 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.

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  1. 15:41
    Holding(s) in Company Holding
  2. 14:08
    Unaudited Condensed Consolidated Interim Accounts
    Interim NAV slipped 2% to €108.8m and the loss narrowed to €2.5m from €15.5m, but the prior-period loss included an €11.6m impairment. Asset sales and cash receipts are still waiting on Cyprus tax clearances.
    Disposal of a part (break-up) outlook mixedfirst since Oct 2023 +5.8% on the day
    Moved: new: Asset sales and capital return – Sales agreed; awaiting Cyprus tax clearances · new: Kilada sale and development – Formal marketing since November 2025 · new: Iran war slowing Cyprus sales – Sales processes slowed
  3. 11:38
    Proposed Transaction
    In-principle deal with over 50% of SSN and SUN holders extends the June 2026 maturities to Dec 2030, easing the near-term wall. But it needs further licences, interest stays unpaid until then, and it is not yet binding.
    Moved: Delayed SSN and SUN coupon payment: Debt restructuring targeted; no terms given → In-principle agreement with Ad Hoc Group; licences pending
  4. 07:00
    CEO retirement Board change
    CEO Richard Fairman, in post since 2019, retires for personal reasons and stays until a successor is found. This adds succession uncertainty just as the CMA process ends and Australian acquisitions continue.
    New CEO / reset outlook positive −1.6% on the day
    Moved: new: CEO succession – Search to be initiated; Fairman stays until successor
  5. 07:00
    Board and Management Changes
    The CFO retires and leaves the Board with immediate effect, three years into the role and just after an operating loss and no final dividend. This is a mid-turnaround finance change.
    Turnaround plan with targets first since Oct 2023 −0.5% on the day
    Moved: Cost savings and portfolio management: Savings target raised to at least £12m → Interim CFO with transformation brief appointed
  6. 07:00
    Touchstone Exploration Operational Update
    CR-3 is onstream and the compressor is on course for May, but Jan-Feb output of 4,778 boe/d is below the 2025 average and CR-3 is still cleaning up with no stabilised rate.
    Project milestones outlook mixedfirst since Oct 2023 −2.2% on the day
    Moved: Carapal Ridge-3 completion and tie-in: Completed and perforated; shut-in awaiting tie-in → Onstream 28 March; cleaning up · Cascadura development and compression: Block B reserves cut; compressor due Q2 2026 → Compressor in transit; commissioning May · new: WD-8/WD-4 oil drilling campaign – Well 1 drilled, well 2 drilling
  7. 07:00
    Final Results Results
    FY2026 revenue growth guided to low single digits and Adjusted EBITDA margin to high single digits (FY2025: 11.3%), as Arizona Medicaid enrolment stops and market access costs rise; 2026 is called transitional.
    Project milestones outlook mixed, loweredfirst in 6 months −13.6% on the day
    Moved: new: Arizona Medicaid reimbursement dispute – Talks ongoing; new patient enrolment stops 1 April · new: CMS local coverage determination – Board expects positive decision near term
  8. 07:00
    Block 3/05 Drilling Update
    Afentra plc ("Afentra" or the "Company") (AIM: AET), the upstream oil and gas company focused on acquiring mature production and development assets in Africa, is pleased to provide an update on the planned Block 3/05 drilling programme, offshore Angola.
    Project milestones outlook positive +4.3% on the day
    Moved: Block 3/05 redevelopment and drilling: Preparing 2026-27 drilling; water injection ramping; FSO recertification pending → Drilling accelerated; spud expected in coming days · Funding for drilling programme: Folded into wider strategic review → Drilling funding eased by Sonangol deferred structure
  9. 07:00
    Audited results for year ended 31 December 2025 Results
    Sensor deliveries drove revenue up 30.7% and adjusted EBITDA up 82.9%, the highest profitability in the company's history. The dividend is raised to $0.136, but CSP profit fell and the Royal Mail contract is still unsigned.
    Turnaround plan with targets outlook positivefirst in 6 months +0.0% on the day
    Moved: HMRC vape duty stamps contract: Contract executed; Spectra's share raised to about 22% → Contract executed, groundwork credited in 2025 · New-generation sensor rollout and servicing: First tranche authorised; five-year service contract signed → First sensors delivered, $5.7M paid · new: Royal Mail contract renewal – Tender unsigned, orders continuing
  10. 07:00
    Trading Statement Trading update
    FY26 Adjusted EBITDA of £53m beats the £50m guided in January, which had itself been raised. The FY27 double-digit growth now applies to the higher base, and the headline calls FY27 guidance raised.
    Upgrade / downgrade cycle £53.0m · 13% of mcapahead of expectationsoutlook positive, raised +2.4% on the day
    Moved: Equity fundraise and lender covenants: Bookbuild closed, upsized to about £40m → Raise done; net debt £90m, under 2x · Marketplace turnaround: All brands profitable; cost out ahead → Ahead of plan; focus shifting to growth · Disposals and warehouse exits: PLT retained; Burnley sale and US lease exit pending → Warehouse consolidation completed; US exit pending
  11. 07:00
    Operations & Trading Update Trading update
    Level 2 FAT signed off by Lagan and ARUP and the unit is at the test site, so the first 1MW unit is on schedule towards Q3 2026 site acceptance and first revenues.
    Project milestones outlook positivefirst since Oct 2023 +8.3% on the day
    Moved: MFE220 1MW testing and on-site operation: Level 1 FAT passed; unit in transit to test site → FAT level 2 signed off; at test site · 5MW unit FEED: FEED instructed by the Board → Concept design stage; FEED to follow in 2027 · new: MFE220 Mark II 1MW development – FEED under way; final design 2027
  12. 07:00
    Trading Update Trading update
    The hoped-for February-March sales uptick did not happen because the Iran conflict hit sales, undercutting the January 'cautiously optimistic' stance and raising doubts about the 2026 recovery.
    Delisting / take-private below expectationsoutlook negative, loweredfirst in 9 months −66.7% on the day
    Moved: Cash runway and funding: Cash £1.2m vs £220k monthly costs → Cash c. £675k; funding required · new: UK media conglomerate services agreement – Agreement signed; client in market to brands
  13. 07:00
    Half-year Results Results
    Interim revenue excluding exceptionals is down 74.6% and the pre-tax loss is far wider as the business winds down. Headline EPS of 12.27p reflects the sale proceeds booked, not trading.
    Moved: Group wind-down and AIM cancellation: Wind-down under S&W oversight; asset review under way → Wind-down continuing; property sale sought; options open
  14. 07:00
    Final Results Results
    Revenue of $155.1m is up 1.8% with statutory PBT up 37.7%, but cash EBITDA is flat and 2026 market expectations of about $146m revenue and $20.0m cash EBITDA imply a step down.
    New CEO / reset outlook mixedfirst in 6 months +4.6% on the day
    Moved: Tender offer: Terms set; circular posted; awaiting shareholder approval → Completed after year end (closed) · Major customer contract renewals: One customer leaving; other terms in final stages → One customer left; another extended on revised terms · new: Middle East milestone revenue – Part delivered, part awaiting acceptance
  15. 07:00
    Half-year Results Results
    Revenue and other income rose to £0.57m from £0.35m, but the operating loss stayed at £2.6m and cash fell to £0.4m by 31 December. The post-period raise fixes funding, while NHS funding is still tight.
    Project milestones £4.9m · 28% of mcapoutlook mixedfirst since Oct 2023 −2.6% on the day
    Moved: Shareholder loan funding: Loan to convert to equity on completion → Loan converted to equity; company debt free (closed) · Equity raise up to £6m: Terms set at 1.0p; general meeting needed → Completed March 2026 (closed) · new: FDA 510(k) for CYP2C19 – Pre-submission; studies being completed
  16. 07:00
    La India Development Update
    Metals Exploration plc (AIM: MTL) ("Metals Exploration", the "Company" or the "Group"), a gold production, development and exploration company with assets in the Philippines and Nicaragua, is pleased to provide an update on development and construction …
    Project milestones ahead of expectationsoutlook positive +1.6% on the day
    Moved: La India construction: 33% complete, ahead of schedule, within revised budget → 40% complete, ahead of schedule, budget raised
  17. 07:00
    Audited Results for the year to 31 December 2025 Results
    The Buddi Litigation settled after the year end, removing the main uncertainty and cutting legal spend. Litigation with the Founder is still unresolved, and 2025 carried heavy legal costs and a statutory loss.
    Legal & regulatory £49.7m · 19% of mcapoutlook positivefirst in 6 months −0.2% on the day
    Moved: New contract wins and ARR ramp: Two more wins; contracts start in 2026 → 16 US wins; Chile award, incumbent appealing · new: Founder litigation – Buddi Litigation settled; Founder litigation continuing
  18. 07:00
    Notification of Contract Wins
    Ganymede extends Network Rail to Oct 2029 (over £50m expected) and wins three Network Rail isolation contracts plus Amey and OVO deals, lengthening earnings visibility, though all are frameworks with no guaranteed revenue.
    Upgrade / downgrade cycle £50.0m · 431% of mcap +0.0% on the day
    Moved: Ganymede rail and energy contracts: Order book described as strong and growing → Network Rail, OVO and Amey contracts won or extended
  19. 07:00
    FY26 Update, Business Reorganisation and FY27 Outlook
    Confirms a record FY26 broadly in line with expectations, matching January's 'on track' message; no upgrade, and the £100m EBITDA target remains delayed.
    Turnaround plan with targets in lineoutlook mixedfirst in 11 months +0.7% on the day
    Moved: new: Four-unit reorganisation and cost review – Reorganisation announced; cost base review underway · Capital Markets Day strategy update: Planned, intention announced → Planned for September 2026, after June results

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