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.
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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 cashFacility agreed 22 Oct 2026 and drawn in fullNext First £400,000 repayment; ATM facility to be set up within 15 business days 15 Jan · in 82 days -
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 offerApproachNext AdL firm offer or walk-away decision by Rule 2.6 deadline 18 Nov · in 24 days -
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 1H27Strategic options under assessmentNext Outcome of the strategic options assessment -
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 caseBond released; company still defending caseNext further updates as appropriate -
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 launchedNext Placing results, retail offer result, then shareholder vote at General Meeting 11 Nov · in 17 days -
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 LSEDelisting announced 19 Oct 2026; FCA cancellation requestedNext Last day of LSE trading, then cancellation of LSE listing 27 Nov · in 33 days
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.