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UK small-cap RNS · 30 Jul 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.

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  1. 16:18
    Clarification Statement
    Brave Bison has this morning announced (the "Announcement") a firm offer to acquire all of the issued and to be issued System1 Shares not already owned by Brave Bison (the "Offer").
    Takeover target next step −3.3% on the day
  2. 14:00
    Director/PDMR Shareholding Director dealing
  3. 13:26
    Directorate Change Board change
    Directorate Change - Appointment of new Independent Non-Executive Director
    Legal & regulatory first in 11 months −0.5% on the day
    Moved: FCA Consumer Duty remediation: Remediation under way; costs rising → Remediation under way; Risk Committee chair succession set
  4. 11:15
    Director/PDMR Shareholding Director dealing
  5. 10:30
    Company Update & AGM
    Confirms Monchetundra production target of end 2026-early 2027 and a design and mining plan this quarter, but West Kytlim sale approval has no deadline and the Chairman says strategy would be reassessed if peace comes first.
    Project milestones outlook mixed −2.9% on the day
    Moved: West Kytlim disposal: Shareholders approved; state approvals awaited → Approvals awaited; production continues to preserve asset · NKT feasibility study and mining licence: Feasibility Study work continuing; licence extended → Monchetundra design and mining plan expected this quarter · Arctic financing: KK sale or equity: Board keeping equity raise option open → Equity raise ruled out before peace; sale-funded plan
  6. 07:05
    First Tranche Institutional Fundraise for US$28.5m Fundraise
    Funds the relaunch, taking cash from about US$8m to about US$36.5m, but the shares are issued at a stated 20% discount and make up about 57% of the enlarged share capital.
    Dilutive fundraise £21.3m · 66% of mcapoutlook positive −10.0% on the day
    Moved: First Phase Fundraising $100-150m: Preparations well advanced; placing and retail offer planned → First institutional tranche closed; second due August
  7. 07:00
    Update, drill results and outlook Results
    Drilling fell to about 800m a month after a consumables shortage, from 1,200m, grades are lower and the JORC slips from September to October. Offsets are the 10m+ intercept, 6% drilled and metallurgy progress.
    Project milestones outlook mixed, lowered −10.8% on the day
    Moved: Agadir Melloul resource and mine development: First assays reported; JORC due Sept 2026 → JORC slipped to Oct 2026; drilling slowed
  8. 07:00
    Half-year Results Results
    Guidance is cut, not raised: 2026 ROTE falls from low double digit to low single digit, with low double digit now pushed to 2027 and mid-teens to 2028, on lower Credit Card yields.
    Upgrade / downgrade cycle below expectationsoutlook mixed, loweredfirst in 8 months −26.0% on the day
    Moved: Tier 2 notes refinancing: Tender launched; maximum acceptance £100m → Completed; £100m Tier 2 tendered and refinanced (closed) · Gateway technology programme: On course; over 800k customers on new app → All Credit Card customers migrated to new app · new: Returns guidance reset – ROTE guidance cut; recovery pushed to 2027-28
  9. 07:00
    Fiinu BANK £9.9m
    Receipt of Requisition Notice
    Granicus, the Everfex seller and a 10.7% holder, is escalating its pre-AGM criticism into a requisition to remove CEO and founder Sjoblom. This adds leadership distraction while the company pursues £16m+ claims against Granicus.
    Legal & regulatory +0.0% on the day
    Moved: Granicus shareholder letter before AGM: Board rebutting seller's pre-AGM letter → Requisition received, validity under review · Everfex SPA non-compete dispute: Arbitration plus warranty claims, over £16m → Claims over £16m ongoing; Board links requisition to them
  10. 07:00
    June 2026 Quarterly Report
    Quarterly report with no new financials. It recaps the completed DFS, the heavy rare earth monazite results and the 8 July shift to a US-focused strategy after Rio Tinto's exit as operator, so the story is unchanged.
    Project milestones outlook positive −2.5% on the day
    Moved: US-focused critical minerals strategy: Announced 8 Jul 2026 after Rio exit → Strategy restated in June 2026 quarterly · Kasiya heavy rare earth by-product: Preliminary; US offtake engagement → Evaluation underway; excluded from DFS · Kasiya project financing with IFC: Financing pursued directly; no terms yet → IFC collaboration; no terms yet
  11. 07:00
    Elementis ELM £1,023m
    Half-year Results Results
    Guidance is only confirmed as in line with consensus (2026 adjusted operating profit mean $132.5m), not raised. Strong H1 profit growth supports it, but the outlook is held.
    Capital return £25.0m · 2% of mcapin lineoutlook positivefirst since Oct 2023 +1.5% on the day
    Moved: Elevate Elementis cost savings programme: $18m delivered in 2025; $4m remaining → $6.5m of net $10m target delivered · new: Pharma proceeds share buyback – New c£25m buyback launched
  12. 07:00
    Final Results Results
    Delivers the cost-cut turnaround as flagged on 29 April: revenue $42.3m, Adjusted EBITDA $4.0m against the 'at least $3.8m' guide. Strong Q1 FY27 trading adds confidence in a return to growth.
    Turnaround plan with targets in lineoutlook positivefirst in 8 months +10.3% on the day
    Moved: Post-restructuring turnaround: Chair handover done; board rebuilding → Restructuring complete; board refresh continuing · Fast Track and AI workflows: Early stage; growing quarterly demand, incl. sports → Premium live-event service launched; early delivery · Two major studio RFP wins: On-boarding; volumes too early to determine → Framework agreements in place; volumes still unquantified
  13. 07:00
    Results for the Year Ended 31 March 2026 Results
    Revenue rose 20% to £4.6m, the bottom of the guided range, with a recurring mix of 83%. The operating loss widened to £6.4m and US order deferrals forced the July refinancing.
    Transformational contract / build-out £4.6m · 27% of mcapoutlook positivefirst since Oct 2023 −4.3% on the day
    Moved: Fundraise for US expansion: Retail offer open; GM 9 Jul 2026 → Completed in July 2026 (closed) · Short-term funding requirement: Refinancing package agreed; shareholder vote pending → Refinancing completed July 2026 (closed) · Nationwide LeakBot rollout: Further 35,000-unit order intended → Further order intended, not yet firm
  14. 07:00
    Trading Statement Trading update
    Wilmington plc, (LSE: WIL, 'Wilmington', 'the Group') the GRC RegTech services group, today provides a trading update for the year ended 30 June 2026.
    Upgrade / downgrade cycle ahead of expectationsfirst in 1 year +3.2% on the day
  15. 07:00
    Half-year Results Results
    The H1 results confirm the 16 July warning: adjusted operating profit fell 29% to £8.9m, with £3.0m of RRA revenue reversals and weak Sales. FY guidance of £17m-£19m is only reiterated, not cut again.
    Turnaround plan with targets outlook mixed −0.3% on the day
    Moved: 2026 Sales recovery: Sales downturn prolonged; no recovery expected → Sales downturn continues; no recovery expected · Renters' Rights Act impact: Implemented May 2026; short-term volatility → Volatility moderating since May; H2 stabilisation expected · Sales repositioning and cost programme: £3.0m savings delivered; more under consideration → £4.5m annualised savings implemented; benefit H2-weighted
  16. 07:00
    Vesuvius VSVS £1,093m
    Half-year Results Results
    The profit warning was issued on 27 July. These results land on that cut guidance: H1 profit is flat at constant currency, Steel issues cost c.£8m, and FY guidance is unchanged.
    Turnaround plan with targets in lineoutlook mixed +0.2% on the day
    Moved: FY26 guidance downgrade: Warning issued; Steel issues due fixed by year-end → Cut guidance confirmed at half-year results · Structural cost reduction programme: on track; £55m cumulative by 2028 → On track; £7.4m delivered in H1 · MMS and PiroMET acquisition integration: integrating; synergies delivered as planned → Integrated; Foundry benefiting
  17. 07:00
    2026 Half-Year Results Results
    H1 matches Board expectations, with net fees down 3% (cc) against 2025's -14% and the operating loss narrowing to £4.5m. Net cash fell to £17.2m from £30.1m and no interim dividend is paid.
    Upgrade / downgrade cycle in lineoutlook positive, raisedfirst since Oct 2023 −1.2% on the day
    Moved: Cost savings and portfolio management: Run rate c.£23m; headcount down 3% in Q2 → £7m of £12m savings still to deliver in 2026 · Market recovery and 2026 NFI: H1 in line; Q2 slipped to -4% → H1 in line; profit now seen at upper end
  18. 07:00
    Trading Update Trading update
    FY2026 expectations of $11.0m are reaffirmed, but H1 revenue of c.$2.1m leaves delivery dependent on the second half, chiefly the $3.9m Permian REGEN project in Q3. Cash fell to c.$500k.
    Transformational contract / build-out in lineoutlook positivefirst in 1 year −3.6% on the day
    Moved: Permian Basin REGEN project: Awarded; Permian sales lead hired, delivery pending → Delivery expected; revenue due Q3 2026 · Gulf of Mexico offshore lease contracts: Third lease commenced; recurring rental under way → Third system delivered; more platforms scheduled · Middle East conflict exposure: Impact not yet assessable → Timelines dependent on ongoing conflict
  19. 07:00
    Q1 FY27 Trading Statement Trading update
    Q1 FY27 trading is in line and guidance is unchanged. Retail consumer revenue grew 4.9% with volumes ahead of sales, a clear step up from FY26's Retail decline, so the turnaround is gaining traction.
    Turnaround plan with targets in lineoutlook positivefirst in 6 months +2.4% on the day
    Moved: Retail turnaround plan: Progressing; sales and volumes improving, not complete → Gaining traction; Q1 FY27 Retail sales up · Dividend rebase and buyback: £50m buyback started; first tranche underway → First £25m tranche progressing
  20. 07:00
    Operational update to 30 June 2026
    H1 auction revenue of USD 102.9m is well up on USD 60m a year earlier and Kagem production is healthy, but premium ruby grade is still weak at 0.025 carats per tonne, net debt rose to USD 44.2m and costs are under pressure.
    Project milestones outlook mixed +0.0% on the day
    Moved: MRM second processing plant: Final commissioning slipped to Q3 2026 → Contributing to volumes; sign-off still pending
  21. 07:00
    New Casino Contract
    US$2.4m Synergy win at a new West Coast casino adds a leading operator and helps replace the one-off gaming revenue in the reset FY26 year. Most delivery falls in 2027, with recurring support revenue.
    Upgrade / downgrade cycle 6% of mcap +0.0% on the day
    Moved: New business contract momentum: Wins broadening; Stagecoach orders added → Wins broadening; US casino win added
  22. 07:00
    H1 2026 Trading Update Trading update
    H1 revenue fell about 17% to $17.7m and adjusted EBITDA fell to $3.8m, but this was flagged as launch timing and H2 weighting. Gross margin recovered to 50.4% after FY25's fall, so the picture is mixed.
    Project milestones in lineoutlook positive +0.0% on the day
    Moved: New US manufacturing facility opening: Charlotte investment under way, not yet producing → Investment progressing, not yet producing
  23. 07:00
    June 2026 Quarterly Activities Report
    Q2 is stated as meeting the 5 June reset expectations, but that reset already cut Syama Q2 output and put group guidance at the lower end of 250-275 koz; confirms a weaker plan, not a recovery.
    Project milestones in lineoutlook mixed −7.2% on the day
    Moved: Doropo project development: Under construction, on schedule → Construction on track, partly financed · Syama Sulphide Conversion Project: Commissioning; shutdown deferred to mid-June → Stage 1 commissioning started · Mali supply chain and operating risk: Security disruption hits Syama Q2 output → Q2 hit as flagged; improving late quarter

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