UK small-cap RNS · 15 Apr 2026

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. 07:30
   Litigation Capital Management Limited LIT £0.4m

   Covenant Waiver Extension

   The Strategic Review is said to 'continue to progress' with no outcome yet, and the waiver extension is tied to it. This is the fourth waiver extension since December, so the update adds timing but no resolution.

   Sale process / strategic review +1.2% on the day

   Moved: Strategic review: Review approaching conclusion; no outcome yet → Review continuing; waiver extended to 30 May
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2. 07:00
   Brooks Macdonald Group BRK £234m

   Third Quarter FY26 FUMA Update

   Board says full-year 2026 performance remains in line with its previous expectations. This only confirms the February position, with no raise, and flags macro and geopolitical uncertainty.

   Segment turn in line3 business updates in 3 months – usually about 1 −2.8% on the day

   Moved: Reignite Growth strategy: Half-year net inflows; investing ahead of growth → Second straight quarter of net inflows
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3. 07:00
   Windar Photonics WPHO £8.5m

   Trading Update & £20m Share Subscription Facility Trading update

   This is the first quantified FY2026 guidance (at least €7.8m revenue), not an upgrade. FY2025 revenue of €6.4m also landed below the €6.5m-€6.8m range given in December.

   Project milestones £20.0m · 235% of mcapoutlook mixedfirst since Oct 2023 +13.1% on the day

   Moved: CEO succession: Search underway, interim executive chair in place → Final stages with preferred candidate · new: GEM share subscription facility – Agreed; fee shares admitted 16 April 2026 · new: Test order conversion programme – Ten tests running or about to start
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4. 07:00
   Robert Walters RWA £87m

   Q1 2026 Trading Update Trading update

   Q1 matches Board expectations and the 2026 net fee guidance is unchanged. After three years of decline, fees are only down 2% and March was up 5%, so the recovery looks to be continuing.

   Upgrade / downgrade cycle in lineoutlook mixed +7.6% on the day

   Moved: Market recovery and 2026 NFI: 2026 NFI still slightly below 2025 → Q1 in line; guidance unchanged, March fees up · Cost savings and portfolio management: Interim CFO with transformation brief appointed → Cost run rate cut further; headcount flat
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5. 07:00
   Made Tech Group MTEC £72m

   Made Tech awarded £19m contract with the GDS

   £19m three-year GDS contract helps rebuild the Contracted Backlog after weak H1 bookings, adds FY27+ revenue visibility and deepens a long-standing central government client relationship.

   Segment turn £19.0m · 26% of mcapoutlook positivefirst in 1 year +3.1% on the day

   Moved: Contracted Backlog rebuild: Backlog £74.4m; post-period conversions, awards expected → H2 bookings converting; £54m year-to-date · FY26 guidance ahead of consensus: EBITDA now guided materially above consensus → Bookings support current FY26 expectations
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6. 07:00
   Hunting HTG £585m

   AGM and Q1 2026 Trading Update Trading update

   The $145-$155m EBITDA guidance is only retained, not raised, so the rule's 'upgrade' reading is wrong. Q1 is in line with expectations, with earnings weighted to H2 on a 40:60 split.

   Turnaround plan with targets in lineoutlook positive −5.5% on the day

   Moved: EMEA restructuring: Savings of c.$11m annualised; Fordoun closure due June 2026 → On track; cost programme accelerating, segments to merge · Middle East conflict exposure: Possible order slippage; company sees minimal 2026 exposure → Tender slippage; minimal profit impact expected · Share buyback programme: $60m buyback near completion; second $40m proposed → Ongoing; second $40m proposed
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