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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.

  1. Debt & refinancing Bezant Resources BZT£25m new

    Yorkville loan facility

    On 22 October 2026 Bezant completed a £4M gross unsecured, non-convertible loan with Yorkville's YA II PN Ltd, drawn in full, as an alternative to an immediate £4M equity placing.

    Size £4 million gross, drawn in full; 6% upfront fee and £20,000 …Interest 5% p.a., unsecured, non-convertible, repayable in cash
    Facility agreed 22 Oct 2026 and drawn in full
    Next First £400,000 repayment; ATM facility to be set up within 15 business days 15 Jan · in 82 days
    −12% since 23 Oct · moved 23 Oct
  2. Takeover Mobico Group MCG£246m new

    Possible offer from a private equity bidder

    On 21 Oct 2026 Mobico confirmed an approach from AdL, held by CMC Group and Asterion Industrial Partners Fund III, for a possible cash offer. After negotiation AdL made a non-binding proposal of 46p per share in cash.

    Offer 46p in cashPremium +55% on 29.7pSpread now +13.9% to the offer
    Approach
    Next AdL firm offer or walk-away decision by Rule 2.6 deadline 18 Nov · in 24 days
    +36% since 21 Oct · moved 21 Oct
  3. Sale process GB Group GBG£354m new

    Strategic options for Global Fraud Solutions

    On 20 October 2026 GBG said the non-core Global Fraud Solutions business, about 5% of revenue, declined more than expected on licence renewal timing, churn and fewer new wins. It is still assessing strategic options;

    Business Global Fraud Solutions, non-core, c.5% of total revenueTrading declined more significantly than expected in 1H27
    Strategic options under assessment
    Next Outcome of the strategic options assessment
    −2% since 20 Oct · moved 20 Oct
  4. Debt & refinancing XP Power Ltd. XPP£478m new

    Comet litigation

    The Comet litigation is ongoing. In Q3 2026 the litigation bond was released, bringing in £50.2m of cash, which cut net debt to £4.5m at 30 September 2026.

    Bond released £50.2m cash received in Q3 2026 on release of the Comet …Company stance Will continue to defend its position in the case
    Bond released; company still defending case
    Next further updates as appropriate
    −4% since 20 Oct · moved 20 Oct
  5. Big fundraise Invinity Energy Systems IES£66m new

    Equity fundraise at 10p

    On 19 Oct 2026 Invinity announced a proposed fundraise of at least £20m at 10p per share, with shares suspended.

    Conditions Shareholder resolutions at the General Meeting; NWF needs …Trading status Shares suspended from 7.30am on 19 Oct 2026 until the raise …
    Terms set; placing bookbuild launched
    Next Placing results, retail offer result, then shareholder vote at General Meeting 11 Nov · in 17 days
    −35% since 19 Oct · moved 20 Oct
  6. Delisting Glenveagh Properties (CDI) GLV£978m new

    Delisting from London Stock Exchange

    Glenveagh announced on 19 Oct 2026 its intention to delist from the LSE after a review of its listing structures, citing low LSE trading activity and the extra cost and regulatory burden.

    Reason Review of listing structures: level of LSE trading …Last trading day Friday 27 November 2026 on the LSE
    Delisting announced 19 Oct 2026; FCA cancellation requested
    Next Last day of LSE trading, then cancellation of LSE listing 27 Nov · in 33 days
    −1% since 19 Oct · moved 19 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.

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