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UK small-cap RNS · 16 Jun 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. 16:33
    Fundraise of approximately £400,000 Fundraise
    Raises about £350,000 at 0.75p, an 18.9% discount to the 0.925p close, adding 46.8m shares to 244.5m. Mostly funds sales, marketing and Risk OS rather than a stated need; dilutive despite warrants.
    Turnaround plan with targets £0.4m · 8% of mcapoutlook mixedfirst in 2 year −18.9% on the day
    Moved: new: Discounted fundraise with warrants – Placing agreed; shareholder approval pending · Cost-led turnaround to profit: Profitable trading sustained; new contract adds recurring revenue → Profitable subsidiary; funding top-up for growth
  2. 09:15
    Regulatory Update
    A Skilled Person Review after FCA engagement found Consumer Duty and compliance gaps in UK Wealth Management. This brings a two-year remediation programme, a client outcomes review, paused EDD inflows and £60m of net costs, putting the 30% margin path at risk.
    Legal & regulatory £60.0m · 3% of mcapfirst since Oct 2023 −17.0% on the day
    Moved: FCA Consumer Duty remediation: Skilled Person Review done; two-year programme starting → Skilled Person Review done; two-year programme starting · Growth strategy and 30% margin target: Strategy unchanged but new headwinds from FCA actions → Strategy unchanged; new headwinds from FCA actions
  3. 07:01
    Share Buyback Programme
    Starts a buyback of up to 9,830,814 shares, which the dossier puts at up to 10% of capital, returning surplus capital now that the capital reduction has created distributable reserves. It follows two guidance raises and net cash of £54.6m.
    Capital return −9.7% on the day
    Moved: Distributable reserves and dividend: Dividend reinstated and buyback announced → Buyback launched via Canaccord on 16 June 2026
  4. 07:00
    Conditional Sale of 2 Copper Belt Licences for $3m
    Sells the Botswana licence subsidiary Virgo to a Sandfire unit for US$3m cash plus a possible US$20-80m success payment, funding Zambia and Zimbabwe projects; completion still needs Botswana approvals.
    Moved: new: Sale of Botswana Virgo licences – Conditional agreement signed; awaiting approvals
  5. 07:00
    Unaudited preliminary results Results
    FY26 adjusted EBITDA of £8.6m beat the 'not less than £7m' guidance. Margin and cash improved, and FY27 guidance is set at not less than £12m. This is a results release with new FY27 guidance, not a raise of the old guidance.
    Turnaround plan with targets outlook positive +4.1% on the day
    Moved: Next three-year growth plan: FY27 budget being finalised → Turnaround complete; growth phase FY27 starting
  6. 07:00
    Final Results Results
    FY26 Adjusted EBITDA of £53.3m (+35%) confirms the £53m flagged in March, with every brand profitable and PLT back in profit. Statutory loss remains £108.3m and net debt rose to £93.2m.
    Disposal of a part (break-up) £53.3m · 13% of mcapoutlook positivefirst in 6 months −2.0% on the day
    Moved: Marketplace turnaround: Back to growth; cost-out ahead of plan → FY26 audited; growth and cost-out continuing · Equity fundraise and lender covenants: Deleveraging to below 1x on track → Net debt £93.2m, 1.75x; target below 1x · Disposals and warehouse exits: US warehouse subleased; Burnley pending → US sublease completed; Burnley pending
  7. 07:00
    Final Results Results
    The rule read an upgrade, but these are final results confirming the April trading update: adjusted EBITDA of €21.2m (vs €21.0m consensus) and FY27 trading in line, with no guidance raise.
    Turnaround plan with targets in lineoutlook positivefirst in 6 months +2.6% on the day
    Moved: Accoya USA joint venture ramp-up: First full year: JV volumes 16,853m³, up 149% → First full year: EBITDA profit, volumes +149% · FOCUS growth strategy Phase 1: On track; EBITDA in line with consensus → On track; margin 11.6% vs 12% target
  8. 07:00
    Final Results Results
    Full-year revenue, margin and cash beat the market after two guidance raises (Feb, Apr), and a dividend and buyback are added. Profit is still well down on FY2025 (adjusted operating profit £9.6m vs £16.0m).
    Capital return ahead of expectationsoutlook mixedfirst in 2 year −9.7% on the day
    Moved: Distributable reserves and dividend: Court approved 3 March 2026; registration pending → Dividend reinstated and buyback announced · DG Americas wind-down: Sold 30 May 2025; Hilco realising; proceeds valued at nil → Hilco realising; proceeds still valued at nil
  9. 07:00
    Corporate and trading update Trading update
    Directors holding 45.6% back a cancellation of AIM trading, and the Board says a proposal is likely. Minority holders would lose AIM liquidity and protections, though the vote still needs shareholder approval.
    Delisting / take-private outlook mixedfirst since Oct 2023 +0.0% on the day
    Moved: new: AIM delisting proposal – Board likely to propose; directors supportive · FY25 guidance reset: FY25 results out; Q1 2026 trading started well → Strong YTD trading; FY26 guided marginally ahead
  10. 07:00
    Full Year Trading Update Trading update
    Confirms revenue in line and the c.10% EBITDA beat flagged in April, but Optima-only new business wins fell to £10.8m from £27.2m, and £4.7m of other income supports the result.
    Large acquisition / reverse takeover £121.0m · 46% of mcapin lineoutlook positivefirst in 6 months −0.8% on the day
    Moved: PAM Healthcare acquisition: Completed 26 March; open offer pending → Completed and funded; integration under way
  11. 07:00
    Final Results Results
    Audited FY2025 results confirm a full impairment of gasification assets bar the patents and a 53% cost cut. The February 2026 reset removed refinancing risk, but the extract gives no financial figures.
    Project milestones outlook positivefirst in 8 months +11.8% on the day
    Moved: Green Rock exploration programme: 51% Peak Hills interest acquired; 48% under option → 51% Peak Hills held; drilling imminent · Mount Sholl nickel-copper option: Option signed; five-month due diligence → Option signed; due diligence, CPR commissioned · Cost reset and leadership overhaul: Board reshaped; chair succession under way → Cost cut about 53%; strategy shift to AGM
  12. 07:00
    Regulatory Update
    Dropping fees on cash balances from 1 July cuts 2026 underlying PBT by about £9m, and the pause on EDD client inflows puts at risk roughly £900m of gross inflows a year. This undermines the 30% margin path.
    Legal & regulatory £60.0m · 3% of mcapfirst since Oct 2023 −17.0% on the day
    Moved: Growth strategy and 30% margin target: Execution continuing; flows stabilising in wealth → Strategy unchanged but new headwinds from FCA actions · new: FCA Consumer Duty remediation – Skilled Person Review done; two-year programme starting
  13. 07:00
    Final Results Results
    Final results for the year ended 31 January 2026
    Upgrade / downgrade cycle ahead of expectationsfirst in 8 months +1.9% on the day

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