Situations

Where money or control changes hands at a UK small cap – takeovers, disposals, capital returns, activists, stake building, refinancings. Each one followed from the first announcement to the outcome.

Investors pushing the board – what they want and when shareholders vote.

Activist Sanderson Design Group SDG£53m

LBV ASSET MANAGEMENT LLP campaign

LBV ASSET MANAGEMENT LLP holds 14.065% of Sanderson Design Group and wants: remove the chair, board seat(s).

Activist LBV ASSET MANAGEMENT LLPStake 14.065%Wants remove the chair, board seat(s)Board opposes

Next general meeting 29 Oct · in 2 days +60% since 22 Jan · moved 12 Oct
Activist Auction Technology Group ATG£580m moved

FitzWalter Capital Limited campaign

FitzWalter's campaign dates from 13 Dec 2024. Its possible offers lapsed on 2 Feb 2026 when it said it would not bid.

Activist FitzWalter Capital LimitedStake 27.4533%Wants board seat(s), sale of the company, return of capital

Next Board to call general meeting; further update in due course; FY26 results 24 Nov · in 28 days −19% since 13 Dec · moved 26 Oct

A row opens the situation with its chart and every step. Company pages also show the smaller matters – a new CEO, a plan, a contract, director buying.

LBV ASSET MANAGEMENT LLP campaign

FitzWalter Capital Limited campaign