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UK small-cap RNS · 21 Oct 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. 15:51
    Extension of PUSU Deadline
    On 9 September 2026, the Board of SThree announced it had received an approach from Circle8 Group Inc.
    Takeover target +4.2% on the day
  2. 15:00
    Result of Retail Offer Fundraise
    Confirms the Placing, Subscription and Retail Offer have conditionally raised about £15m. The new shares dilute holders, and the money depends on General Meeting approval and Admission.
    Dilutive fundraise £15.0m · 18% of mcap +0.0% on the day
    Moved: Leadership transition and commercial push: Funding the commercial push; runway extended to H2 2028 → Retail offer closed; raise awaiting shareholder approval
  3. 13:55
    Directorate Change Board change
    CEO Simon Deacon steps down with immediate effect three weeks after the FY2026 guidance cut on PFP delays. No reason is given, which adds uncertainty to a turnaround already under strain.
    New CEO / reset first since Oct 2023 −7.3% on the day
    Moved: new: CEO succession – Interim CEO in place from 21 Oct 2026
  4. 11:56
    Director/PDMR Shareholding Director dealing
    (“Gulf Keystone”, “GKP”, “the Group” or “the Company”)
    Insider conviction 3 director buys in 3 months – usually less than 1 +2.7% on the day
  5. 09:47
    Statement re Possible Offer Offer
    Independent directors are minded to recommend a 46p cash proposal from AdL, backed by 26% holder CMC and Asterion, and will allow due diligence. It is non-binding, and no firm offer is certain.
    Takeover target first since Oct 2023 +32.5% on the day
    Moved: Offer for the company: offer → Possible offer at 46p; due diligence granted
  6. 07:59
    Director/PDMR Shareholding Director dealing
  7. 07:30
    Unaudited Interim Results Results
    Interim loss widened to £83,800 from £46,492 as the new board rebuilt controls; cash rose to £300,014 on the loan notes, but the company remains a revenue-less shell with net liabilities of £511,465.
    Cash shell / net cash above market value £0.3m · 6% of mcapoutlook mixedfirst since Oct 2023 +0.0% on the day
    Moved: Reverse takeover search: Screening RTO candidates; suspension talks with FCA → Seeking suspension lift, then RTO target · Going concern and funding: Material uncertainty; funded by £318k loan notes → Loan notes funding creditors; more equity needed
  8. 07:22
    Final Results Results
    Loss widened to £6.6m from £0.8m on a £5.36m non-cash Kathleen Valley impairment, and net assets fell to £2.1m from £6.4m, though cash rose to £489k and operating progress at Yarrol continues.
    Project milestones £0.5m · 5% of mcapoutlook positivefirst in 7 months −2.3% on the day
    Moved: new: Sale of Kathleen Valley interest – Disposal process under way, no buyer named · new: Yarrol initial resource estimate – Resource drilling under way, MRE targeted
  9. 07:00
    Services Contract Award
    A services contract of over £90,000 for implementation, workshops and training on the defence programme lifts its total value to Acuity over the next year to above £480,000, large against c.£2.1m revenue. It is one-off services revenue, not recurring.
    Turnaround plan with targets £0.1m · 2% of mcapoutlook positive7 new orders in 3 months – usually about 2 +0.0% on the day
    Moved: Cost-led turnaround to profit: Near breakeven; defence programme orders widening → Defence programme adds services revenue
  10. 07:00
    GPE commits to redevelopment of Soho Square Estate
    Great Portland Estates plc (GPE) today announces that it has committed to the redevelopment of its Soho Square Estate, W1, which is set to deliver a best-in-class HQ building into a West End market increasingly starved of high-quality supply.
    Project milestones outlook positive +1.9% on the day
    Moved: new: Soho Square Estate redevelopment – Committed; demolition expected shortly
  11. 07:00
    Final Results Results
    Year to June 2026 shows technical progress and cash up to US$12.9m after the £11.1m placing. But the Phalaborwa DFS has slipped to H1 2027, with a Q4 2026 PFS added to bridge the gap.
    Project milestones outlook positivefirst in 6 months −4.9% on the day
    Moved: Phalaborwa DFS and financing: Neo MoU signed; PFS added; DFS now H1 2027 → Neo SX test work underway; PFS due Q4 2026 · Uberaba Economic Assessment: EA published; PFS funded → PFS commenced September 2026 · new: US listing evaluation – Under evaluation
  12. 07:00
    Director/PDMR Shareholding Director dealing
  13. 07:00
    PCA / PDMR Dealing Director dealing
    Following this transaction, the Malaccan Holdings Ltd Concert Party holds in aggregate 281,257,376 Ordinary Shares, representing 29.79% of the issued share capital.
    Insider conviction 6 director buys in 3 months – usually less than 1 +1.0% on the day
  14. 07:00
    Drill Results: New Copper Discoveries - Manna Hill Results
    32m at 0.7% copper from 52m in strong porphyry-style alteration
    Project milestones outlook positive +11.1% on the day
    Moved: Manna Hill Blue Rose drilling: RC drilling ongoing; 23 of up to 58 holes done → First RC assays in; programme extended to 64 holes
  15. 07:00
    Recommended Offer for Ashtead Technology Holdings Offer
    Board now recommends Ember's 615p cash offer (about £505m), an 80.9% premium to the undisturbed price. It gives shareholders an exit after two guidance cuts and Middle East headwinds, subject to 75% votes and court sanction.
    Takeover target £505.0m · 103% of mcapnext step +14.7% on the day
    Moved: Offer for the company: offer → Recommended cash offer agreed; scheme to be published
  16. 07:00
    Half-year Results Results
    Interim results show a first Group interim profit, with revenue up 80% on higher tin output and price, a gross margin of 40.3% and cash of £15.6m, after the FY2026 loss.
    Disposal of a part (break-up) £20.6m · 14% of mcapoutlook positive +4.1% on the day
    Moved: Uis Ore Sorter project: Funded; long-lead crushing equipment ordered → Funded; equipment en route, on schedule · Lithium Ridge exploration with SQM: Drilling complete; fifth batch of assays reported → Drilling complete; remaining assays due this quarter · Brandberg West earn-in partnership: Workplan under way; ore sorting results positive → NaCC approved; evaluation work under way
  17. 07:00
    Unaudited Interim Results Results
    Interim loss widened to US$1.19m from US$0.73m, but cash rose to US$2.57m from US$0.87m and the first company-led Whistlejacket drilling is under way.
    Dilutive fundraise £2.4m · 32% of mcapoutlook positive +0.0% on the day
    Moved: new: Whistlejacket drilling and JV option – Phase 3 drilling under way, funded · new: Tanzania uranium licences acquisition – Conditional agreement signed, post period end · new: Basin East lease renewal – Renewal process initiated, lease expires 2026
  18. 07:00
    Response re. Share Price: Operational Update
    Quarterly cash revenue of £7.0m is flat on the prior quarter and the interim dividend was covered, but the company flags lower UK recurring revenue in H2, offset by possible exit upside.
    Turnaround plan with targets £7.0m · 6% of mcapin lineoutlook mixedfirst in 6 months +4.7% on the day
    Moved: new: Capital partner exits – Two exits in late-stage processes · new: UK portfolio reorganisation – Substantial progress; two loss-making divisions exited
  19. 07:00
    Final Results Results
    FY26 income, adjusted EBITDA loss and pro forma cash all beat analyst consensus, and the nil-debt balance sheet funds the commercial scale-up. Income and EBITDA loss are still slightly worse than FY25.
    Project milestones ahead of expectationsoutlook positivefirst in 7 months +31.2% on the day
    Moved: Mitsui Kinzoku sulfur battery JDA: JDA signed; staged payments tied to milestones → JDA signed; reported as post-period event in FY26 results · Top-5 OEM co-funded proof of concept: PoC agreement signed 13 Oct 2026 → Agreement signed 13 Oct 2026; OEM funding amount undisclosed
  20. 07:00
    Market Update
    Agrees to sell the King Financial Planning business and assets for £3m cash, funding the refocus away from higher net worth wealth management. Not yet completed, so 'agreed' rather than 'completed'.
    Disposal of a part (break-up) £3.0m · 41% of mcapfirst in 1 year +0.0% on the day
    Moved: new: Sale of Tavistock Private Client – Exclusivity agreed; due diligence complete · new: Sale of King Financial Planning – Sale agreement entered into · new: Strategic refocus on low-cost advice – Refocus announced, financed by disposals
  21. 07:00
    Trading update Trading update
    Pathways 2026/27 student numbers are now guided to 775-900, below 2025/26's 966 and the earlier plan of growth, and FY27 is no longer expected to return to profit, pushing recovery out again.
    Upgrade / downgrade cycle below expectationsoutlook negative, loweredfirst in 1 year −19.5% on the day
    Moved: London Met University partnership: Signed; recruiting staff ahead of September intake → First intake delivered, strong; launched autumn 2026 · new: Pathways recruitment shortfall and reset – 2026/27 numbers guided down; FY27 profit hope withdrawn
  22. 07:00
    Full Year Trading Update Trading update
    Revenue of £17.1m matches the roughly £17m guided in August, but gross margin fell to 28.5% from 32.9% and cash dropped to £1.4m. Margin recovery is again pushed to FY27.
    Turnaround plan with targets in lineoutlook positivefirst in 7 months +0.0% on the day
    Moved: Turnaround and 2028 targets: FY26 guidance cut; recovery pushed to FY27 → FY26 revenue as guided; margin recovery expected in FY27
  23. 07:00
    Q3 Trading Update and FY 2026 Outlook Trading update
    FY2026 revenue guidance is cut to about £1.8m from at least £2.1m, which was only reaffirmed on 15 July. The company blames the operational realignment for slower revenue timing.
    Balance-sheet stress / refinancing below expectationsoutlook mixed, lowered −12.9% on the day
    Moved: Restructuring and turnaround: Costs cut; CEO search under way → Guidance cut; cash runway shortened; CEO search continues · new: Cash runway and funding – Cash £1.4m; runway to Q1 2027
  24. 07:00
    Trading Update Trading update
    Expects FY26 revenue, underlying EBITDA and statutory PBT all above market expectations after a weak H1 and a dropped interim dividend, though the market's own expectation was a statutory PBT loss of £1.6m.
    Upgrade / downgrade cycle £130.0m · 430% of mcapahead of expectationsoutlook positive, raisedfirst since Oct 2023 +8.8% on the day
    Moved: Power and energy sector expansion: Dedicated division launched 3 Aug 2026 → Division growing; revenue up 11% in FY26 · UK water sector contract wins: Further c.£5m Thames Water-region awards in Q4 FY2026 → Record year expected; revenue up 25%
  25. 07:00
    Results for the year ended 31 December 2025 Results
    Loss narrowed to £214,713 from £356,589 and cash burn fell, but the company is a non-trading shell with no revenue and net liabilities, so the improvement is cost-driven only.
    Cash shell / net cash above market value £0.3m · 6% of mcapoutlook mixedfirst since Oct 2023 +0.0% on the day
    Moved: new: Reverse takeover search – Screening RTO candidates; suspension talks with FCA · new: Going concern and funding – Material uncertainty; funded by £318k loan notes
  26. 07:00
    Year End Trading Update Trading update
    FY26 revenue of £13.5m is in line with market revenue expectations, but EBITDA of £5.8m and PBT of £4.9m beat consensus (£5.5m, £4.6m) on cost management. The £13.5m revenue does, however, only just clear the £13.4m the Board set in July.
    Upgrade / downgrade cycle £13.5m · 14% of mcapahead of expectationsoutlook positivefirst since Oct 2023 +7.2% on the day
    Moved: Medium-term revenue doubling target: Doubling now due in FY26; new ambition set → FY26 revenue doubled; FY27 growth targeted · Three new coating reactors: Board approved £4.5m investment on 22 July 2026 → Deposit paid; on stream in H2 FY27 · New North American energy customer: Fourth order covers rest of FY26 → Fifth order; new part generation shipped
  27. 07:00
    Trading Statement Trading update
    Net outflows of £459m were well below last year's £1.2bn and AuMA edged up to £24.1bn. But UK retail still lost £666m, and AuMA had slipped to £24.0bn by 16 October.
    Upgrade / downgrade cycle outlook positive −3.4% on the day
    Moved: Net outflows and return to inflows: Outflows narrowing; retail outflows persist → Outflows narrowing; retail outflows persist
  28. 06:00
    Reports Q3-2026 Production & Operational Highlights
    FY2026 output guidance is cut from over 53,000 oz to roughly FY2025's 44,169 oz because Coringa permits (LO, GUIA extension) have not arrived, so extra Coringa ore cannot reach the expanded Palito plant in Q4.
    Upgrade / downgrade cycle below expectationsoutlook mixed, loweredfirst since Oct 2023 −11.1% on the day
    Moved: new: Coringa operating licence and GUIA – Approvals pending; GUIA expires 29 Jan 2027

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