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VTY logo VTY

Director/PDMR Shareholding

Vistry Group PLC

<mark style="background-coloryellow">Purchase</mark> of shares by the Trustee of the Vistry Group PLC Share Incentive Plan (the "Plan"). This is a continuing membership in the Plan which is funded via deductions from salary each month.
TSCO logo TSCO

Director/PDMR Shareholding

Tesco PLC

<mark style="background-coloryellow">Purchase</mark> of shares under the Tesco PLC Share Incentive Plan (the "SIP")
USA logo USA

Holding(s) in Company

Baillie Gifford US Growth Trust PLC

TR1 Buy
['Bank of America Corporation', '2.845697', '3.119707']
WTE logo WTE

Holding(s) in Company

Westmount Energy Limited

TR1 Buy
['Bank of America Corporation', '2.845697', '3.119707']
IPF logo IPF

Form 8.3

International Personal Finance PLC

IPF logo IPF

Form 8.3

International Personal Finance PLC

SDLF logo SDLF

Director/PDMR Shareholding

Standard Life PLC

Full details of the share <mark style="background-color:yellow">purchase</mark> are set out below.
HTWS logo HTWS

Director/PDMR Shareholding

Helios Towers Plc

The following notification made under Article 19(1) of the UK Market Abuse Regulation ("UK MAR") relates to the <mark style="background-color:yellow">purchase</mark> of Company shares on behalf of a PDMR, and a conditional award to another PDMR to receive shares, in both cases to satisfy the deferred portion of the annual bonus in respect of the financial year ended 31 December 2025. This announcement is made in accordance with Article 19(3) of UK MAR.
IPF logo IPF

Form 8.3

International Personal Finance PLC

PCT logo PCT

Director/PDMR Shareholding

Polar Capital Technology Trust

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
HBR logo HBR

Holding(s) in Company

Harbour Energy PLC

TR1 Buy
['EIG Global Energy Partners, LLC', '3.754476', '7.552607']
THR logo THR

Half-year Report for the 6 months ending 31 Dec 25

Thor Mining PLC

**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025**
Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 December 2025. The report highlights the companys strategic focus on portfolio rationalization, exploration advancements, and financial performance.
**Key Highlights**
1. **Portfolio Rationalization and Exploration:**
The company prioritized de-risking its asset portfolio and advancing its HY-Range natural hydrogen and helium project in South Australia.
Field activities at HY-Range confirmed the presence of working hydrogen and helium systems, with seismic planning underway for mid-2026 data acquisition.
2. **Board Changes**
Andrew Hume assumed the expanded role of Managing Director and CEO, allowing Alastair Clayton to transition to a Non-Executive Chairman role.
3. **Asset Sales and Farm-outs**
Thor Energy sold its 75% holding in the Molyhil tungsten-molybdenum project to Tivan Limited, generating significant cash inflows and eliminating the need for capital raising.
The company farmed down its US uranium projects to Metals One PLC, retaining a 25% stake free of holding and administration costs.
4. **Financial Performance**
The company reported a loss before taxation of £1,255,000 for the half-year, with net cash outflows of £473,000 from operating activities.
As of 31 December 2025Thor Energy had £787000 in cash and cash equivalents.
5. **Going Concern**
The report highlights a material uncertainty regarding the companys ability to continue as a going concern, dependent on successful asset sales or capital raising.
6. **Post-Balance Sheet Events**
Thor Energy received a A$2,250,000 (£1,125,000) cash completion payment for the Molyhil project sale in January 2026.
The company was awarded two Regulated Substance Exploration Licence Applications in South Australia in February 2026.
**Financial Summary**
**Loss before taxation:** £1255000
**Net cash outflows from operating activities:** £473,000
**Cash and cash equivalents:** £787000 (as of 31 December 2025)
**Conclusion**
Thor Energy PLCs half-year report reflects a strategic focus on portfolio optimization, exploration advancements, and financial management. While the company faces challenges related to its going concern status, recent asset sales and cash inflows provide a measure of financial stability. The companys continued focus on hydrogen, helium, and energy metals exploration positions it for potential growth in these emerging sectors.
Here’s an HTML table comparing the financials and debt year-on-year for Thor Energy PLC based on the provided text:
Metric6 Months Ended 31 Dec 20256 Months Ended 31 Dec 2024Year Ended 30 Jun 2025
Operating Loss (£'000)(553)(437)(5,993)
Loss Before Taxation (£'000)(1,255)(533)(7,441)
Loss for the Period (£'000)(1,255)(533)(7,441)
Total Comprehensive Loss (£'000)(1,250)(1,185)(8,280)
Net Assets (£'000)8,12112,8179,227
Cash and Cash Equivalents (£'000)7871,091686
Total Current Liabilities (£'000)(274)(483)(208)
Total Equity (£'000)8,12112,8179,227
Net Cash from Operating Activities (£'000)(475)(342)(900)
Net Cash from Investing Activities (£'000)608(61)(87)
Net Cash from Financing Activities (£'000)(10)738918
### Key Observations: 1. **Operating Loss**: Increased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but significantly lower than the full year ended 30 Jun 2025. 2. **Loss Before Taxation**: Higher in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but lower than the full year ended 30 Jun 2025. 3. **Net Assets**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but slightly higher than the full year ended 30 Jun 2025. 4. **Cash and Cash Equivalents**: Lower in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but higher than the full year ended 30 Jun 2025. 5. **Total Current Liabilities**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 and the full year ended 30 Jun 2025. 6. **Net Cash Flows**: Negative cash flow from operating activities in all periods, with positive cash flow from investing activities in the 6 months ended 31 Dec 2025 due to asset sales. This table provides a concise comparison of key financial metrics year-on-year, highlighting trends and changes in Thor Energy PLC's financial position.
BIRG logo BIRG

Holding(s) in Company

Bank of Ireland Group PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Pzena Investment Management, LLC', 'Less than 3', '3.02']
BIRG logo BIRG

Holding(s) in Company

Bank of Ireland Group PLC

TR1 Buy
['Massachusetts Financial Services Company', '6.93', '7.76']
IPF logo IPF

Form 8.3

International Personal Finance PLC

GMET logo GMET

Launch of Roadshow for US Initial Public Offering

Guardian Metal Resources PLC

**Summary**
Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL."
Key details of the offering include
**Offering Size** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM).
**Underwriters Option** A 45-day option for underwriters to purchase up to an additional 15% of the offering size.
**Use of Proceeds** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes.
**Underwriters** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers).
The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.
Launch
FORT logo FORT

Launch of £20m Share Buyback Programme

Forterra PLC

**Summary**
Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-year results, aims to purchase and cancel ordinary shares of 1 pence each, thereby reducing the companys share capital.
The buyback will be executed in two tranches: the first tranche of £10 million will begin immediately, managed by Joint Corporate Broker Investec Bank plc, acting as a riskless principal. The second tranche will follow upon completion of the first and is expected to conclude by December 31, 2026, subject to market conditions. The total number of shares to be purchased is capped at 21,280,338, as authorized by shareholders at the 2025 Annual General Meeting.
Purchases will occur in open market transactions, adhering to UK regulatory requirements, including the Financial Conduct Authoritys Listing Rules and EU regulations as part of UK domestic law. Transactions will be announced within seven market sessions of their occurrence. Forterras CEO Neil Ash and CFO Ben Guyatt are key contacts for inquiries.
Launch
0MGE logo 0MGE

AL Sydbank A/S share buyback programme: transactions in week 11

Sydbank

**Summary**
AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 million, aims to reduce the banks share capital while adhering to EU Safe Harbour regulations (Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/1052).
During week 11, AL Sydbank repurchased 72,000 shares at a total gross value of DKK 37,930,500. The transactions were executed by Danske Bank A/S under ISIN DK 0010311471. Since the programmes inception, the bank has accumulated 139,000 shares, totaling DKK 73,959,120.
Following these transactions, AL Sydbank holds 140,474 own shares, representing 0.16% of its share capital. Further details are available in the attached document, in compliance with EU market abuse regulations.
**Key Points**
Share buyback programme: DKK 1100m (up to 4500000 shares).
Week 11 transactions: 72000 sharesDKK 37930500.
Total accumulated: 139000 sharesDKK 73959120.
Own shares held: 140474 (0.16% of share capital).
Executed by Danske Bank A/S under EU Safe Harbour rules.
BuyBack
CPI logo CPI

Director/PDMR Shareholding

Capita PLC

<mark style="background-coloryellow">Purchase</mark> of shares by Adolfo Hernandez, Chief Executive Officer
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '1.811638', 'Below Minimum Threshold']
CABP logo CABP

RESPONSE TO POSSIBLE OFFER ANNOUNCEMENT

CAB Payments Holdings Ltd

**Summary**
CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of the entire issued and to-be-issued share capital of CAB Payments at 95 pence per share in cash. The proposal is subject to several pre-conditions outlined in the StoneX announcement.
The Independent Board of CAB Payments (excluding Henry Obi and Nitin Kaul) is currently evaluating the offer with financial and legal advisors. They emphasize the companys improved financial and operational performance in FY25 and its strategic guidance provided to the market on March 5, 2026. The Board remains confident in delivering attractive returns to shareholders, supported by its relationship-led approach to winning and retaining clients.
There is no certainty that StoneX will proceed with a formal offer or its terms. CAB Payments shareholders are advised to take no action at this time. The Takeover Panel will set a deadline for StoneX to either announce a firm intention to make an offer or confirm it does not intend to proceed.
The announcement includes standard legal disclaimers, regulatory notices, and contact details for CAB Payments and its advisors. It also outlines disclosure requirements under the City Code on Takeovers and Mergers for parties interested in 1% or more of relevant securities.
Offers
HCM logo HCM

Vesting of awards under Long Term Incentive Plan

HUTCHMED China Ltd

**Summary**
HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Scientific Officer, received 19,913 ordinary shares as part of this vesting. The awards were initially granted on March 13, 2024. This notification complies with the UK Market Abuse Regulation and includes details about the transaction, the issuer, and the person discharging managerial responsibilities.
HUTCHMED is an innovative biopharmaceutical company focused on developing and commercializing targeted therapies and immunotherapies for cancer and immunological diseases. The company has successfully brought three medicines to market in China, with one also approved globally in regions including the US, Europe, and Japan. Contact information for investor and media enquiries, as well as details about the companys brokers, is provided. The announcement was released via RNS, the news service of the London Stock Exchange, on March 16, 2026.
Awards
BYIT logo BYIT

Holding(s) in Company

Bytes Technology Ltd

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '0.117695', 'Below Minimum Threshold']
0RPR logo 0RPR

Share buyback programme – week 11

Ringkjoebing Landbobank A/S

**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11**
Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to 8 May 2026. The bank aims to buy back shares worth up to DKK 500 million, with a maximum of 600,000 shares, in compliance with EU regulations (Regulation No. 596/2014 and Delegated Regulation No. 2016/1052).
**Key Details**
**Programme Period** 2 February 2026 – 8 May 2026
**Total Buyback Amount** Up to DKK 500 million
**Maximum Shares:** 600000
**Compliance** EU "Safe Harbour" regulations
**Transactions in Week 11**
**Total Shares Bought in Week 11** 159,300
**Average Purchase Price (DKK):** 1624.58
**Total Purchased in Week 11 (DKK)** 258,795,057
**Cumulative Programme Progress**
**Total Shares Bought Under Programme** 1,267,447 (4.99% of share capital)
**Total Amount Spent Under Programme (DKK):** 1,758,779,223
**Historical Context**
**Previous Programmes (28 Jan 2025 – 30 Jan 2026):** 1,108,147 shares bought for DKK 1,499,984,166
**Ownership Update**
The bank now owns 1,267,447 shares, representing 4.99% of its share capital, excluding trading portfolio and customer investments.
**Detailed Transaction Data**
The announcement includes a detailed breakdown of transactions by date, volume, price, venue, and time, adhering to regulatory reporting requirements.
**Conclusion**
Ringkjøbing Landbobank continues its share buyback programme, with Week 11 transactions contributing significantly to the overall goal. The programme remains on track, with detailed transparency in compliance with EU regulations.
BuyBack
JNEO logo JNEO

Contract award in Denmark

Journeo PLC

**Summary**
Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (DSB), Denmarks largest state-owned passenger rail operator. This marks the first widescale on-train system contract for Journeos Nordic subsidiary since its acquisition in September 2023. The contract involves supplying and installing modern bodyside LED display panels into DSBs Dosto double-deck rail coaches, replacing outdated technology to enhance passenger experience and accessibility. Journeo demonstrated its engineering expertise by integrating the solution with existing onboard systems, avoiding the need for a complete technology refit. Installation is expected to begin in the second half of 2026 and be substantially completed by year-end. Russ Singleton, Journeos CEO, highlighted the strategic importance of this contract in expanding the companys presence in new territories and emphasized the collaborative effort across the Group to deliver the solution. Journeo plc operates through six subsidiaries, focusing on intelligent transport systems, passenger information systems, and critical infrastructure protection, with significant investment in research and development to drive innovation.
NewContract
SDG logo SDG

Launch of Zoffany x Michael S. Smith Collection

Sanderson Design Group PLC

**Summary**
Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned American interior designer Michael S. Smith features 55 new designs hand-selected from Zoffanys archives, combining vintage aesthetics with technical innovation. The fabrics are made from performance-led materials suitable for both indoor and outdoor use, addressing a market gap. The collection, launching in May 2026, reinforces Zoffanys luxury brand positioning and supports global growth, particularly in North America. CEO Lisa Montague and Michael S. Smith highlighted the collections innovative design and versatility, emphasizing its potential to set a new standard for indoor-outdoor living. The fabrics will be distributed globally through Sanderson Design Groups network.
Launch
AZN logo AZN

Imfinzi approved in EU for early gastric cancer

AstraZeneca PLC

**Summary**
AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers. The approval is based on positive results from the MATTERHORN Phase III trial, which demonstrated significant improvements in event-free survival (EFS) and overall survival (OS) compared to chemotherapy alone. The regimen includes Imfinzi in combination with FLOT chemotherapy before and after surgery, followed by Imfinzi monotherapy.
Key findings from the MATTERHORN trial include
A 29% reduction in the risk of disease progression, recurrence, or death with the Imfinzi-based regimen.
An estimated 69% of patients were alive at three years with Imfinzi, compared to 62% in the comparator arm.
The safety profile was consistent with known profiles of the individual medicines.
This approval marks AstraZenecas third perioperative approval in Europe for an Imfinzi-based regimen, highlighting the companys commitment to improving outcomes in early-stage cancers where cure is possible. Gastric cancer, the fifth leading cause of cancer death globally, affects nearly one million people annually, with approximately 15,500 drug-treated patients in the EU in 2024. The approval is expected to set a new standard of care for these patients.
Imfinzi is also approved in the US and other countries for this indication, with regulatory applications under review in Japan and several other countries. AstraZeneca continues to expand its immuno-oncology portfolio, focusing on innovative therapies to transform cancer care across various tumor types and stages.
Approvals
TRP logo TRP

License and Farmout Approval Update & Subscription

Tower Resources plc

**Summary**
Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with Prime Global Energies Limited in Cameroon (Thali license) and Namibia (PEL96), with positive progress reported in meetings with government authorities. In Cameroon, the Societe Nationale de Hydrocarbures (SNH) recommended extending the exploration period and approving the farm-out, pending formal documentation. In Namibia, the Upstream Petroleum Unit is expediting approval, with due diligence on Prime completed.
The subscription involves issuing 6,315,785,262 ordinary shares at 0.02375p each, primarily to repay a £1 million convertible bridge loan due March 25, 2026. The remaining proceeds will fund working capital. The company also issued warrants to the broker, Axis Capital Markets Limited, as part of the arrangement.
Tower Resources remains focused on drilling the NJOM-3 well in Cameroon in Q3 2026, subject to rig availability, and is pursuing additional opportunities in Cameroon and Namibia. The company emphasized caution regarding precise approval timelines but expressed confidence in progress. The announcement includes regulatory disclaimers, forward-looking statement notices, and contact details for further information.
Approvals
DNM logo DNM

Partnership with AI Company Dappier

Dianomi PLC

**Summary**
Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered financial answers engine designed for financial publisher websites, enabling them to retain audiences and monetize AI-driven conversations directly on their platforms. This solution addresses the challenge of publishers losing audience engagement to external AI platforms like ChatGPT and Claude.
The AI engine leverages publishers journalism and archives to create conversational AI experiences, generating answers from trusted editorial content within the publishers environment. This approach not only retains readers but also integrates native advertising into the conversational experience, creating new revenue streams for publishers and financial brands.
The partnership combines Dappiers conversational AI technology with Dianomis extensive distribution network, reaching 500 million devices monthly across 250+ premium publishers. This has the potential to establish a sector-wide distributed AI answers network. Both CEOs, Rupert Hodson of Dianomi and Dan Goikhman of Dappier, emphasized the partnerships ability to transform financial intent into scalable advertising opportunities while providing a publisher-owned alternative to horizontal AI platforms.
Early responses have been positive, with ongoing discussions for pilot projects with major publishers and advertisers. This initiative positions Dianomi to deepen its publisher ecosystem relationships and expand its advertising opportunities.
AI
EWI logo EWI

Circ re. Edinburgh Worldwide Inv Trst Tender Offer

Edinburgh Worldwide Investment Trust plc

**Summary**
Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide shareholders with a choice to realize value from their investment before a potential change of control by Saba, a minority shareholder with a 30% stake.
Chair Jonathan Simpson-Dent highlights that Saba intends to replace the board, appoint a new manager, and shift the investment mandate away from long-term global technological innovation. The board argues that the regulatory framework does not adequately protect shareholders from Sabas control agenda. The tender offer allows shareholders to exit at a fair value while retaining exposure to SpaceX, EWITs largest investment.
Shareholders must vote by April 8, 2026, and separately elect to tender shares by April 16, 2026. The board strongly recommends voting in favor of the tender offer to protect investments and end uncertainty surrounding Sabas actions. The announcement also includes important legal and regulatory information for shareholders, particularly those in the United States.
Offers
RST logo RST

Commencement of £20m Share Buyback Programme

Restore plc

**Summary**
Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year results on 12 March 2026, will involve the purchase of ordinary shares at 5 pence each. The programme is divided into two tranches of £10 million each, executed by Investec Bank plc and Canaccord Genuity Limited, respectively. Purchased shares will be cancelled, reducing the companys share capital.
The buyback is authorized under the companys 2025 annual general meeting (AGM) and will comply with UK Financial Conduct Authority regulations. The maximum number of shares to be purchased is 13,692,406, subject to market conditions, share price, and trading volumes. The first tranche begins immediately, with the second tranche expected to start after the first is completed and conclude no later than 31 March 2027.
For further inquiries, contact details for Restore plc, its brokers, and PR consultants are provided. The announcement was released via RNS, the news service of the London Stock Exchange, on 16 March 2026.
BuyBack
BRK logo BRK

Director/PDMR Shareholding

Brooks Macdonald Group

<mark style="background-coloryellow">Purchase</mark> of ordinary shares of 1p each in the Company
RVRG logo RVRG

2025 Full Year Report for the year ended 30/9/25

River Global Plc

**Summary of River Global PLCs 2025 Full Year Report:**
**Financial Performance**
**Revenue Decline** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market conditions.
**Losses** The overall loss before taxation for the A share business interest was £13.4 million, including an £8.1 million impairment of goodwill due to the post-balance sheet disposal of River Global Holdings Limited and its subsidiaries. Excluding the goodwill write-down, the loss before taxation was £5.2 million.
**EBITDA Loss** Losses on an EBITDA basis for the A share business interest were -£2.9 million, compared to -£5.7 million in 2024, adjusted for discontinued operations and exceptionals.
**Cost Reductions** Achieved cost reductions of nearly £5 million over the year.
**Strategic Developments**
**Sale of Operating Business** Announced the sale of River Global Holdings Limited and its subsidiaries to Liontrust Asset Management PLC, considered a post-balance sheet event.
**Operational Consolidation** Successfully consolidated all funds into a single umbrella structure, delivering a single operating platform and harmonizing branding.
**New Mandates** Secured a substantial new UK small cap mandate for Phoenix Group and launched funds for Blevins Franks, boosting assets under management and industry profile.
**Performance** 69% of funds outperformed peers over one year, 88% over three years, and 67% over five years.
**B Shares (Parmenion)**
**Robust Performance** Parmenions assets increased by £2 billion to £13.1 billion, with revenue up to £50.2 million and profit to £17.5 million in 2024. EBITDA rose to £20.1 million.
**Continued Growth** As of December 31, 2025, assets under management or administration increased to over £16 billion.
**Challenges and Outlook**
**Market Headwinds** Continued outflows and challenging market conditions, including geopolitical tensions and economic uncertainties, impacted performance.
**Profitability Goal** Despite challenges, the company is focused on achieving profitability, with cost savings and operational efficiencies in place.
**Future Opportunities** The company sees potential in active asset management as market conditions evolve, with an uptick in performance and interest in some funds.
**Corporate Governance and Strategy**
**Share Reorganization** Completed a share reorganization in March 2025, aligning shareholders interests with the Groups main business interests.
**Acquisition** Acquired Devon Equity Management Limited in October 2025, integrating its team and assets into River Global.
**ESG Commitment** Committed to responsible business practices, including environmental, social, and governance (ESG) initiatives, and adherence to high standards of integrity and transparency.
**Key Financials (Consolidated)**
**Total Assets** £48.886 million (2024: £60.523 million).
**Total Liabilities** £6.439 million (2024: £7.404 million).
**Total Equity** £42.447 million (2024: £53.119 million).
**Loss for the Year** £11.238 million (2024: £2.452 million).
**Conclusion**
River Global PLC faced significant challenges in 2025 due to adverse market conditions, resulting in revenue decline and losses. However, strategic initiatives such as cost reductions, operational consolidation, and new mandates have positioned the company for potential recovery. The sale of the operating business and acquisition of Devon Equity Management Limited mark significant strategic shifts. Despite ongoing headwinds, the company remains focused on achieving profitability and enhancing its market position through active asset management and ESG commitments.
Here is a comparison of River Global PLC's financials and debt year on year, presented as an HTML table: tr> td>-49.8%
Metric20242025Change
Revenue (£m)14.412.2-15.3%
EBITDA (£m)-5.7-2.949.1% improvement
Loss before taxation (£m)-4.9-13.4175.5% increase in loss
Goodwill impairment (£m)0-8.1N/A
Assets under management (£m)2,7792,351-15.4%
Total net assets (£m)26.113.1
Cash and cash equivalents (£m)8.76.1-29.9%
Total liabilities (£m)7.46.4-13.5%
**Key Observations:** * **Revenue Decline:** Revenue decreased by 15.3% from £14.4m in 2024 to £12.2m in 2025, likely due to industry headwinds and outflows. * **EBITDA Improvement:** Despite revenue decline, EBITDA loss improved by 49.1%, indicating successful cost-cutting measures. * **Increased Loss:** The loss before taxation significantly increased due to a substantial goodwill impairment of £8.1m in 2025. * **Asset and Liability Changes:** Assets under management, total net assets, and cash equivalents all decreased, while total liabilities also decreased but at a slower rate. **Note:** This table focuses on key financial metrics. For a comprehensive understanding, refer to the full financial statements and accompanying notes.
LSAA logo LSAA

Share Buyback Programme

Life Settlement Assets PLC

**Summary**
Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary Share. The program aims to repurchase shares when it is in shareholders best interests and accretive to NAV. The company has allocated funds for the program, which will be managed by its broker, Cavendish Capital Markets Limited, within pre-set parameters. The maximum number of shares to be acquired is capped at 14.99% of the issued share capital, under authority granted by shareholders in June 2025. Repurchased shares will be cancelled, and the program’s continuation beyond June 2026 requires fresh shareholder approval. LSAA will also explore other capital return options, such as special dividends, while monitoring liquidity and policy advance costs. The company specializes in investing in life settlement policies, primarily in the U.S., to generate long-term returns for investors.
BuyBack
KEN logo KEN

Excellent Drill Assay Results at Bonya REE project

Kendrick Resources PLC

**Summary**
Kendrick Resources Plc (LSEKEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceeded expectations, highlighting pervasive high-grade Total Rare Earth Oxide (TREO) and Light Rare Earth Oxide (LREO) mineralization. Key highlights include
1. **High-Grade Intercepts** Drill hole TWDD001 showed notable intercepts, including 8.14 wt% TREO over 21.16 meters, with grades never dropping below 6.0 wt% and peaking at 10.7 wt% TREO.
2. **Depth Potential** The hole ended in mineralization at 6.09 wt% TREO, suggesting continued mineralization at depth.
3. **Low Radioactive Elements** Thorium and Uranium grades were minimal (0.019% and 0.000196%, respectively), indicating no penalties for REE products.
4. **Benchmarking** Teufelskuppe ranks among the top global REE projects, including operating mines, with high grades of critical elements like Praseodymium and Neodymium (Nd/Pr combined 1.00 wt%).
5. **Resource Potential** Historic surface sampling and current drilling suggest significant resource potential across the TK carbonatite landscape and the neighboring Keishohe complex.
6. **Next Steps** Kendrick plans to deploy a second rig for reconnaissance drilling and accelerate resource definition, aiming for a Preliminary Economic Assessment (PEA).
Chairman Colin Bird expressed satisfaction with the results, emphasizing the project’s potential to be among the top global REE producers. The company remains focused on expanding drilling and metallurgical work to further validate the project’s resource potential.
The provided text does not contain specific financial or debt data for Kendrick Resources Plc that can be compared year-on-year. Instead, it focuses on drilling results and project benchmarks. However, I can create a placeholder HTML table structure that you could use if such financial data were available. Below is an example of how you might structure an HTML table to compare financials and debt year-on-year: < lang="en">Kendrick Resources Plc Financials and Debt Comparison

Kendrick Resources Plc Financials and Debt Comparison

Metric202420252026Change 2025-2026
Revenue (€)10,000,00012,000,00015,000,000+25%
Net Income (€)1,000,0001,500,0002,000,000+33.33%
Total Debt (€)5,000,0004,500,0004,000,000-11.11%
Debt-to-Equity Ratio0.50.450.4-11.11%
### Explanation: - **Table Structure**: The table is structured with columns for the metric being compared (e.g., Revenue, Net Income, Total Debt, Debt-to-Equity Ratio) and rows for the years (2024, 2025, 2026). - **Placeholder Data**: Since the provided text does not contain actual financial data, placeholder values are used. In a real-world scenario, you would replace these with actual figures. - **Change Column**: The last column calculates the percentage change between 2025 and 2026 for each metric. If you have specific financial data from the text or another source, you can update the table accordingly.
DSW logo DSW

Trading Update

DSW Capital PLC

**Summary**
DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at DR Solicitors and steady network trading, the outbreak of war with Iran has severely impacted UK M&A activity, leading to aborted or postponed deals in March—a critical month for completions. As a result, the company now expects reduced financial performance for FY26, with Total Income of £6.2m, Adjusted EBITDA of £1.6m, and Adjusted Profit Before Tax of £1.3m.
Cash reserves remain strong at £1.4m as of 28 February 2026, with net debt at £0.5m, following loan repayments and dividend payments. CEO Shru Morris emphasized the company’s strategic focus on diversification, highlighted by the successful acquisition and growth of DR Solicitors, which has reduced reliance on M&A. The company remains profitable and cash generative, with a strong pipeline of diversification opportunities. A full trading update will be announced in May 2026, in line with its usual timetable.
DSW Capital continues to pursue growth through attracting licensees, consultants, and new business, aiming to scale its agile model via organic growth, geographical expansion, and acquisitions. The company’s vision is to become a leading destination for entrepreneurial professionals, leveraging its licensing model and network synergies.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text. Since the text only provides data for FY26, I’ve structured the table to reflect the available information and left the previous year (FY25) columns empty, as no comparative data is provided.
MetricFY25FY26
Total IncomeN/A£6.2m
Adjusted EBITDAN/A£1.6m
Adjusted Profit Before TaxN/A£1.3m
Cash Reserves (as of 28 February)N/A£1.4m
Net DebtN/A£0.5m
Loan Repayment (OakNorth Bank)N/A£1.0m
Dividend Payments (Oct 2025 & Jan 2026)N/A£0.8m
### Notes: 1. **FY25 Data**: The text does not provide financial or debt data for FY25, so those cells are marked as "N/A". 2. **FY26 Data**: The table includes all available FY26 metrics mentioned in the text. 3. **Formatting**: The table is bordered and padded for readability. You can adjust the `border`, `cellpadding`, and `cellspacing` attributes as needed. Let me know if you'd like further adjustments!
SYS1 logo SYS1

Trading Update

System1 Group PLC

**Summary**
System1 Group PLC (AIMSYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpassing market expectations. Key points include
1. **Strong New Business Performance**Significant new business wins, especially in Q4 FY26, position the company for growth.
2. **Cost Optimisation**A restructuring plan, including organisational changes and cost efficiencies, will enhance operational leverage despite one-off costs in FY26.
3. **FY27 Outlook**Revenue forecasts align with consensus (£38.8 million), but Adjusted EBITDA is expected to materially exceed market expectations, with a margin of at least 15%.
4. **Strategic Progress**Continued success in innovation, U.S. expansion, and partnerships with top global brands drive momentum.
5. **Leadership Confidence**CEO James Gregory and Chairman Rupert Howell expressed confidence in the company’s strategy, team, and ability to deliver double-digit revenue growth and improved margins.
System1 remains focused on scaling its marketing decision-making platform, deepening client relationships, and enhancing shareholder value. Full-year results for FY26 will be announced in July 2026.
The provided text does not contain specific financial or debt data for a year-on-year comparison. However, it does mention guidance and consensus figures for FY26 and FY27. Below is an HTML table summarizing the available financial information based on the text:
MetricFY25 ActualFY26 GuidanceFY27 Consensus
Revenue (£m)37.0~37.038.8
Adjusted Profit before Taxation (£m)N/A2.0 - 2.5N/A
Adjusted EBITDA (£m)N/AN/A4.3
Adjusted EBITDA MarginN/AN/A≥15%
**Notes:** - The table includes available data from the text, such as FY25 revenue, FY26 guidance, and FY27 consensus figures. - Debt information is not provided in the text, so it is not included in the table. - Adjusted EBITDA margin for FY27 is mentioned as "no less than 15%", but specific FY26 figures are not provided. Since the text lacks detailed year-on-year financial and debt data, this table summarizes the available information. If more specific data were available, a more comprehensive comparison could be made.
SRC logo SRC

Full Year Results and Notice of AGM

Sigmaroc PLC

**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025**
**Financial Performance Highlights**
**Revenue Growth** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower volumes.
**EBITDA Improvement** Underlying EBITDA rose by 16.7% to £262.2 million, with a margin of 25.3%, reflecting strong cost discipline and synergy delivery.
**Profit Before Tax** Profit before tax surged by 115.9% to £98.9 million, supported by operational efficiency and cost management.
**Earnings Per Share (EPS)** Underlying EPS increased by 25.9% to 10.51p, ahead of previous guidance.
**Free Cash Flow (FCF)** FCF grew by 18.4% to £133.8 million, with a conversion rate of 51%.
**Net Debt Reduction** Net debt decreased by 7.3% to £472.4 million, with covenant leverage improving to 1.8x.
**Operational and Strategic Achievements**
**Synergy Program** Achieved minimum target of €40 million in recurring synergies two years ahead of schedule, lifting EBITDA and offsetting volume-related losses.
**Divestments** Completed the sale of three non-core businesses for £18 million, optimizing the portfolio.
**Refinancing** Secured a new financing facility of up to €825 million on investment-grade terms, enhancing financial flexibility.
**Ventures** SkreenHouse, the venture arm, reviewed over 250 projects and made 8 investments in innovative construction technologies.
**Sustainability** Maintained CDP Climate Change rating of B and improved Water Security rating to B. Progressed decarbonization initiatives, including kiln conversions and increased use of renewable energy.
**Market and Outlook**
**Market Conditions** Core volumes were down 3% due to softer construction and steel markets, but there are encouraging signs of recovery in several regions.
**Structural Trends** Expected benefits from the German infrastructure stimulus, improving steel industry conditions, and increased defense spending.
**Residential Market** Housing remains at cyclical lows, but a significant shortfall in European housing stock suggests potential future demand.
**Growth Opportunities** Data center, AI, and green economy investments provide additional opportunities for the construction materials segment.
**Governance and Investor Engagement**
**Capital Markets Day** Successfully held the inaugural event, outlining the 5-year plan and engaging with over 70% of shareholders.
**Board Stability** Maintained a stable and engaged board, with full attendance and active participation in governance and investor activities.
**Strategic Advisory Board** Established to focus on long-term strategic direction.
**Future Priorities**
**Safety and Operations** Improve safety and operating standards across all sites.
**Margin Protection** Strengthen margins through cost and capital discipline.
**Growth Conversion** Convert improving infrastructure and industrial demand into profitable growth.
**Selective Growth** Pursue organic and acquisitive growth where long-term returns are compelling.
**Conclusion**
SigmaRoc PLC delivered a strong financial performance in 2025, marked by significant improvements in profitability, cash flow, and operational efficiency. The company is well-positioned to capitalize on emerging structural trends in Europe, supported by a diversified portfolio, strategic divestments, and a focus on sustainability. The board remains optimistic about the future, with clear priorities to drive further growth and value creation.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2024 (£m)2025 (£m)YoY Change
Revenue997.61,035.9+3.8%
EBITDA224.6262.2+16.7%
Profit before tax117.6154.0+31.0%
Net debt509.5472.4-7.3%
Covenant Leverage (x)2.091.80-13.9%
**Key Observations:** * **Revenue Growth:** Revenue increased by 3.8% year-on-year, driven by pricing and mix benefits. * **Improved Profitability:** EBITDA and profit before tax showed significant growth of 16.7% and 31.0% respectively, indicating improved operational efficiency and cost management. * **Debt Reduction:** Net debt decreased by 7.3%, and covenant leverage improved by 13.9%, reflecting stronger cash flow and financial discipline.
MSLH logo MSLH

Final Results

Marshalls PLC

**Summary of Marshalls PLC Final Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Marshalls PLC reported a 2% increase in revenue to £632.1 million, driven by growth in Building and Roofing Products, partially offset by a 1% decline in Landscaping Products.
**Adjusted Profit Before Tax** Adjusted profit before tax decreased by 16% to £43.7 million, in line with market expectations, due to lower profitability in Landscaping Products and increased costs.
**Dividend** The proposed final dividend is 4.5 pence per share, resulting in a total dividend of 6.7 pence, down 16% due to weaker profitability.
**Operational Highlights**
**Landscaping Products** Despite a 1% revenue decline, the segment saw 4% volume growth, outperforming a flat market. The company implemented a performance improvement plan, including cost savings of £11 million by 2026, and reduced portfolio complexity.
**Building Products** Revenue grew by 4%, with strong performances in Water Management and Mortars. Strategic growth initiatives in Water Management are progressing well.
**Roofing Products** Revenue increased by 4%, with Viridian Solar achieving 32% growth, benefiting from new build energy efficiency regulations.
**Strategic Initiatives**
**Transform & Grow Strategy** The company is intensifying the execution of its strategy, focusing on margin improvement, cash generation, and service enhancement. This includes selective activity, organizational focus on delivery, and strengthened commercial discipline.
**Cost Savings** On track to deliver £11 million in annualized cost savings by the end of 2026, with £3 million realized in 2025.
**Market Position** Strengthened customer relationships and market share gains, particularly in Landscaping Products, despite subdued end markets.
**Financial Position**
**Balance Sheet** Robust balance sheet with pre-IFRS 16 net debt of £137.9 million and leverage of 1.8 times adjusted EBITDA.
**Cash Flow** Adjusted operating cash flow conversion of 88%, reflecting disciplined working capital management.
**Refinancing** Successfully refinanced the £270 million facility in November, maintaining commercial terms and providing flexibility for strategic execution.
**Outlook**
**Market Conditions** Market activity levels in early 2026 remained consistent with late 2025, impacted by persistent rainfall.
**Strategic Focus** Priority is on disciplined implementation of the Transform & Grow strategy, with a focus on margin, cash, and service improvements.
**Profitability** The Board is confident of driving a material increase in profitability and returns over the medium term, despite ongoing macroeconomic uncertainties.
**CEO Commentary**
Simon Bourne, CEO, emphasized decisive actions to strengthen Marshalls foundations, returning the company to revenue growth and delivering adjusted profit before tax in line with guidance. He highlighted progress in Landscaping Products improvement plan and the positioning of Roofing and Building Products to capture regulatory and infrastructure-led demand. The focus remains on disciplined execution to achieve sustainable, profitable growth.
**ESG Progress**
**Carbon Leadership** Progress on net-zero targets, validated by the Science Based Targets initiative (SBTi), with a focus on carbon reduction and improved ESG reporting.
**Climate Adaptation** Water management and drainage solutions play a key role in improving flood resilience and water handling.
**Responsible Business Practices** Continued focus on human rights due diligence and supplier improvement programs, especially in high-growth international supply chains.
**Conclusion**
Marshalls PLC demonstrated resilience in 2025, achieving revenue growth and adjusted profit before tax in line with expectations, despite challenging market conditions. The companys strategic initiatives, cost discipline, and focus on sustainable growth position it well for medium-term profitability and returns.
Here is the HTML table code comparing the financials and debt year on year for Marshalls PLC:
Metric2025 (£'M)2024 (£'M)Change
Revenue632.1619.22%
Adjusted EBITDA85.097.8(13%)
Adjusted Operating Profit56.466.7(15%)
Adjusted Profit Before Tax43.752.2(16%)
Pre-IFRS 16 Net Debt137.9133.93%

Key Observations:

  • Revenue increased by 2% year on year, from £619.2M in 2024 to £632.1M in 2025.
  • Adjusted EBITDA decreased by 13%, from £97.8M in 2024 to £85.0M in 2025.
  • Adjusted Operating Profit decreased by 15%, from £66.7M in 2024 to £56.4M in 2025.
  • Adjusted Profit Before Tax decreased by 16%, from £52.2M in 2024 to £43.7M in 2025.
  • Pre-IFRS 16 Net Debt increased by 3%, from £133.9M in 2024 to £137.9M in 2025.
This table provides a clear comparison of the key financial metrics and debt levels for Marshalls PLC between 2024 and 2025. The observations highlight the changes in each metric, showing a mixed performance with revenue growth but declines in profitability and an increase in net debt.
BKS logo BKS

Interim Results

Beeks Trading Corporation Ltd

**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):**
**Financial Highlights**
**Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting strong recurring revenue growth.
**New Contracts** Total Contract Value (TCV) of new contracts signed rose by 23% to £11.9 million (H1 FY25: £9.7 million), driven by high demand across all offerings.
**Revenue and Profitability** Revenues slightly declined to £14.65 million (H1 2025: £15.79 million) due to contract timing and the shift to a revenue share model for Exchange Cloud. Gross profit fell to £4.50 million (H1 2025: £6.03 million), and underlying EBITDA decreased to £4.12 million (H1 2025: £5.74 million). Underlying profit before tax turned to a loss of £0.69 million (H1 2025: £1.89 million profit), but strong profit progression is expected in H2 as contracts deploy and revenue recognition commences.
**Cash Position** Gross cash remained stable at £6.96 million, with net cash at £3.29 million (H1 2025: £6.57 million) after upfront investments to support contract wins.
**Operational Highlights**
**Commercial Momentum** Secured £6 million TCV of Proximity Cloud contracts in December 2025, with revenue recognition largely starting in H2.
**Exchange Cloud** Signed two new contracts (TMX Group and nuam) under the revenue share model, bringing the total to seven exchanges signed, with four on the revenue share model. Live deployments are transitioning to profitability ahead of expectations.
**Market Edge Intelligence™** Launched an AI-powered analytics platform, with a proof-of-concept customer (a major global bank) now in contractual discussions.
**Customer Base** Supports over 30 Tier-1 banks and investment managers, with significant expansion opportunities.
**Outlook**
**H2 FY26 Revenue** Expected to be supported by £4.5 million in revenue recognition from H1 contract wins, remaining deployment of the Grupo Bolsa Mexicana (BMV) DR site, and go-live of two Exchange Cloud contracts.
**Pipeline** Multiple significant contracts in discussion across all offerings, with the Board confident in full-year performance in line with expectations.
**Long-Term Growth** Significant addressable opportunity with limited competition, positioning the company for considerable long-term growth.
**CEO’s Commentary (Gordon McArthur)**
Highlighted strong commercial momentum and a robust customer base with expansion potential. Emphasized that while H1 financial performance was impacted by contract timing and revenue share models, it lays the foundation for significant profitable growth in the future.
**CFO’s Commentary (Fraser McDonald)**
Noted the impact of contract timing and revenue share models on H1 financials but stressed the strengthening recurring revenue base and expected H2 profitability. Highlighted continued investment in infrastructure and product development, with a focus on efficient capital allocation and margin improvement.
**Key Metrics**
**ACMRR Growth** 15% to £32.80 million.
**TCV Growth** 23% to £11.9 million.
**Revenue Decline** 7% to £14.65 million.
**Gross Profit Decline** 25% to £4.50 million.
**Underlying EBITDA Decline** 28% to £4.12 million.
**Underlying Loss Before Tax** £0.69 million (H1 2025: £1.89 million profit).
**Conclusion**
Beeks Financial Cloud Group PLC demonstrated strong commercial progress in H1 FY26, despite short-term financial headwinds due to contract timing and revenue model transitions. The company is well-positioned for significant revenue and profit growth in H2 and beyond, supported by a robust pipeline, expanding customer base, and innovative product offerings.
Here is the HTML table code comparing the financials and debt year on year for Beeks Financial Cloud Group PLC:
MetricH1 2026H1 2025Change
Revenue (£'000)14,65315,794(7%)
Gross Profit (£'000)4,5006,028(25%)
Underlying EBITDA (£'000)4,1205,740(28%)
Underlying (Loss)/Profit Before Tax (£'000)(690)1,890(136%)
Statutory (Loss)/Profit Before Tax (£'000)(1,868)461(506%)
Net Cash (£'000)3,2906,570(50%)
Gross Debt (£'000)8,5991,953340%
Net Debt (£'000)(1,641)5,378(131%)
**Notes:** * The table compares key financial metrics and debt figures for H1 2026 and H1 2025. * The "Change" column shows the percentage change between the two periods. * The data is extracted from the provided text, which includes the company's interim results announcement. * The table focuses on the most relevant financial and debt metrics, providing a snapshot of the company's performance and financial position year on year.
ATT logo ATT

Final Results

Allianz Technology Trust PLC

**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025**
**Overview**
Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increase in Net Asset Value (NAV), outperforming its benchmark, the Dow Jones World Technology Index, which rose by **20.0%**. This represents a **4.7 percentage point outperformance**. The share price total return was slightly higher at **25.8%**, supported by a narrowing discount to NAV.
**Key Highlights**
1. **Performance**ATT’s differentiated strategy, focusing on mid- and large-cap technology companies rather than solely on the largest firms, drove its outperformance. Holdings in companies like Micron Technology, Lam Research, and Robinhood Markets contributed significantly to the results.
2. **Portfolio Strategy**The Trust avoided over-concentration in the "Magnificent 7" mega-cap tech companies, instead diversifying into smaller firms with strong growth potential. This approach mitigated risks associated with passive index replication.
3. **Discount Management**The discount to NAV narrowed from **8.6%** at the end of 2024 to **7.8%** in 2025. The Board continued its share buyback program, repurchasing **26,088,876 shares** for **£124.99 million** during the year, with further buybacks post-year-end.
4. **Awards**ATT was named **2025 Investment Company of the Year** in the Technology category by Investment Week, recognizing its strong three-year performance and strategic differentiation.
5. **Geopolitical Context**Despite global uncertainties, including trade tariffs, the Ukraine war, and Middle East tensions, technology demand remained robust, supporting the sector’s growth.
6. **Costs**The Ongoing Charges Figure (OCF) decreased marginally to **0.62%**, maintaining ATT’s position as the lowest-cost trust in its AIC peer group.
**Portfolio Insights**
**Top Holdings**NVIDIA, Alphabet, Microsoft, Apple, and Broadcom were the largest holdings, collectively representing **62.3%** of the portfolio.
**Sector Focus**Semiconductors and semiconductor equipment accounted for **32.5%** of the portfolio, delivering an average return of **45.6%**.
**New Additions**Robinhood Markets was a notable new addition, contributing **1 percentage point** to relative performance.
**Outlook**
The Trust anticipates ongoing volatility due to geopolitical tensions and market dynamics, particularly around AI valuations. However, the long-term growth prospects for technology remain strong, supported by innovation and increasing demand. ATT’s active management approach, combined with its focus on diversification and risk mitigation, positions it well to navigate these challenges.
**Governance and Future Plans**
The Board will seek authority at the **2026 AGM** to buy back up to **14.99%** of issued shares.
Shareholders will vote on the continuation of the Trust, with the Board strongly recommending approval given ATT’s strong performance and strategic positioning.
**Conclusion**
Allianz Technology Trust PLC demonstrated resilience and strong performance in 2025, outperforming its benchmark through a differentiated and actively managed portfolio. Despite global uncertainties, the Trust remains well-positioned to capitalize on the long-term growth opportunities in the technology sector.
Here’s an HTML table comparing the financials and debt year-on-year for Allianz Technology Trust PLC based on the provided text:
Metric20242025Change
Net Asset Value (NAV) Return+35.6%+24.7%-10.9%
Share Price Total ReturnN/A+25.8%N/A
Benchmark (Dow Jones World Technology Index) ReturnN/A+20.0%N/A
Outperformance vs. BenchmarkN/A+4.7%N/A
Discount to NAV8.6%7.8%-0.8%
Shares Repurchased (Number)26,088,87626,088,8760
Shares Repurchased (Value)£124,993,000£124,993,0000
Ongoing Charges Figure (OCF)0.64%0.62%-0.02%
Profit (Loss) on Ordinary Activities (£'000s)460,066406,981-53,085
Net Assets (£'000s)1,746,8672,028,855+281,988
Net Asset Value per Ordinary Share (pence)458.6p571.7p+113.1p
### Notes: 1. **Net Asset Value (NAV) Return**: The return on NAV decreased from +35.6% in 2024 to +24.7% in 2025. 2. **Share Price Total Return**: Only available for 2025, showing a +25.8% return. 3. **Benchmark Return**: The benchmark return for 2025 was +20.0%. 4. **Outperformance vs. Benchmark**: The trust outperformed the benchmark by +4.7% in 2025. 5. **Discount to NAV**: The discount narrowed from 8.6% in 2024 to 7.8% in 2025. 6. **Shares Repurchased**: The number and value of shares repurchased remained the same in both years. 7. **Ongoing Charges Figure (OCF)**: The OCF decreased slightly from 0.64% to 0.62%. 8. **Profit (Loss) on Ordinary Activities**: Profit decreased by £53,085,000 from 2024 to 2025. 9. **Net Assets**: Net assets increased by £281,988,000 from 2024 to 2025. 10. **Net Asset Value per Ordinary Share**: NAV per share increased by 113.1p from 2024 to 2025. This table provides a clear comparison of key financial metrics between 2024 and 2025 for Allianz Technology Trust PLC.
TENG logo TENG

H1 2026 Trading Update

Ten Lifestyle Group PLC

**SummaryTen Lifestyle Group PLC H1 2026 Trading Update**
Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include
**Financial Growth**Net Revenue increased by 6% year-on-year (YoY) to £33.7m (9% at constant currency), while Adjusted EBITDA rose by 16% YoY to £7.0m (28% at constant currency). Adjusted EBITDA margin improved to 20.7% from 18.9% in H1 2025.
**Membership Growth**Active Members grew by 23% YoY to 436,000, driven by higher engagement with the digital platform.
**Cash Position**Net cash increased to £9.3m, supported by a new £5.0m revolving credit facility with NatWest, replacing higher-cost loan notes.
**Strategic Wins**Launched the Ten Digital Platform with a leading UK bank and secured a digitally enabled concierge contract with a global technology company, expanding into a new customer segment. Additional contracts were won in Europe and AMEA, set to launch in H2 2026.
**Technology Investment**Continued investment in the digital platform to enhance customer experience, efficiency, scalability, and service quality.
**Outlook**The Group remains on track to meet full-year market expectations, with new contracts supporting growth into FY 2027.
CEO Alex Cheatle emphasized the Group’s strengthened market position and commitment to delivering "better than the internet" customer experiences, driving contract wins and operational improvements. Ten Lifestyle Group remains focused on its mission to become the most trusted service platform globally, underpinned by its B Corp certification and sustainable business practices.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricH1 2026H1 2025Change (%)Change at Constant Currency (%)
Net Revenue (£m)33.731.8+6%+9%
Adjusted EBITDA (£m)7.06.0+16%+28%
Adjusted EBITDA Margin (%)20.718.9+1.8pps-
Active Members (k)436354+23%-
Net Cash (£m)9.36.8+37%-
Debt (Loan Notes Repaid) (£m)00.8-100%-
Revolving Credit Facility (£m)5.00New Facility-
### Key Notes: 1. **Net Revenue** and **Adjusted EBITDA** are compared year-on-year, including both reported and constant currency figures. 2. **Adjusted EBITDA Margin** is presented as a percentage point change (pps). 3. **Active Members** and **Net Cash** are compared directly year-on-year. 4. **Debt** includes the repayment of loan notes and the new revolving credit facility secured in H1 2026. 5. The table is structured for clarity, with metrics, values, and changes presented in a clean format.
VOF logo VOF

Half-year Financial Report

VinaCapital Vietnam Opportunity Fund

**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):**
**Overview**
VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period from July 1, 2025, to December 31, 2025. The report highlights the funds performance, investment strategy, and outlook for the Vietnamese market.
**Financial Performance**
**Net Asset Value (NAV) per share** Increased by 11.9% to USD 7.97, resulting in a total return of 12.8% in USD terms.
**Share Price** Increased by 10.3% on a USD total return basis.
**Dividend** Paid 7.25 US cents per share in December 2025, with the next dividend of the same amount payable on May 6, 2026.
**Investment Strategy and Portfolio**
**Benchmark Agnostic** VOF does not follow a specific index but notes the strong performance of the VN Index (up 29.8%) driven by Vingroup (VIC), which the fund does not hold due to valuation and transparency concerns.
**Portfolio Repositioning** The fund actively repositioned its portfolio, trimming long-term holdings and reinvesting in new opportunities, adding 4.4% to the calendar year return.
**Private Investments** Progress was made in distressed privately negotiated investments, including restructuring the holding in Dat Xanh Real Estate Services (DXS) into listed shares in Dat Xanh Group (DXG), resulting in a USD 6.7 million uplift.
**Sector Focus** Key sectors include Financials (29.9% of NAV), Real Estate (25.4%), Industrials (17.4%), and Consumer (24.2%).
**Market and Economic Outlook**
**Vietnamese Economy** Expected to grow over 8% in 2026, driven by infrastructure development and real estate market stimulation.
**Challenges** Potential impact of Middle East tensions on inflation and interest rates, and the need for continued economic reforms.
**Investment Opportunities** The fund sees opportunities in both public and private markets, particularly as Vietnam moves towards Emerging Market status, which should improve market liquidity and breadth.
**Corporate Actions and Governance**
**Board Changes** Charlotta Ginman took over as Chair of the Audit Committee and Management Engagement Committee. Julian Healy remains on the Board focusing on private equity investments.
**Share Repurchase Program** 7.0 million shares were bought back at a cost of USD 44.3 million, helping to control the discount and increase NAV.
**Management Fees** The Board is reviewing management fees to align them more closely with market levels.
**Conclusion**
VOF remains optimistic about the Vietnamese market, despite short-term challenges. The funds strategy focuses on identifying undervalued opportunities in both listed and private markets, leveraging its expertise in privately negotiated investments. The Board and Investment Manager are committed to enhancing shareholder value through active portfolio management, dividend payments, and strategic corporate actions.
Here is a comparison of the financials and debt year on year for VinaCapital Vietnam Opportunity Fund Limited, presented as an HTML table:
Metric2024 (Year ended 30 June)2025 (Six months ended 31 December)
Total Assets (USD'000)965,9921,060,755
Total Liabilities (USD'000)1,82138,466
Shareholders' Equity (USD'000)964,1711,022,289
Net Asset Value (NAV) per share (USD)7.137.97
Profit for the period (USD'000)25,824111,640
Earnings per share (USD)0.170.85
Dividends paid (USD'000)10,6579,470
Dividend per share (USD)0.07250.0725
Loans and other borrowings (USD'000)025,000
**Key Observations:** - **Total Assets**: Increased by 9.8% from USD 965,992 in 2024 to USD 1,060,755 in 2025. - **Total Liabilities**: Increased significantly from USD 1,821 in 2024 to USD 38,466 in 2025, primarily due to the new loan facility of USD 25,000. - **Shareholders' Equity**: Increased by 6.0% from USD 964,171 in 2024 to USD 1,022,289 in 2025. - **NAV per share**: Increased by 11.8% from USD 7.13 in 2024 to USD 7.97 in 2025. - **Profit for the period**: Increased significantly from USD 25,824 in 2024 to USD 111,640 in 2025. - **Earnings per share**: Increased from USD 0.17 in 2024 to USD 0.85 in 2025. - **Dividends paid**: Decreased slightly from USD 10,657 in 2024 to USD 9,470 in 2025, but the dividend per share remained the same at USD 0.0725. - **Loans and other borrowings**: Increased from USD 0 in 2024 to USD 25,000 in 2025 due to the new revolving credit facility. This table provides a concise comparison of key financial metrics and debt levels between the year ended 30 June 2024 and the six months ended 31 December 2025 for VinaCapital Vietnam Opportunity Fund Limited.
ACRM logo ACRM

Product Launch

Acuity RM Group Plc

**Summary**
Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk management platform. This product is the culmination of the NextGen STREAM® programme, initially announced in June 2025, and addresses quality issues identified during its initial rollout by undergoing comprehensive redevelopment and <mark style="background-color:yellow">test</mark>ing.
**STREAM® Cloud** offers enhanced configurability, usability, and AI-readiness, targeting mid-market organizations at the early-to-intermediate stage of cyber risk management. Key features include rapid deployment, guided workflows, risk lifecycle management, simplified reporting, and pre-configured content aligned with industry standards. Delivered as a SaaS solution on Microsoft Azure, it provides a lower entry price point and a clear upgrade pathway to **STREAM® Classic** for customers with evolving needs.
The launch aims to capitalize on increasing regulatory demands (e.g., NIS2, DORA, UK Cyber Security and Resilience Bill) and growing board-level interest in structured cyber risk reporting. CEO David Rajakovich emphasized the product’s role in broadening the company’s market reach, accelerating customer acquisition, and driving recurring revenue growth. **STREAM® Cloud** complements the existing **STREAM® Classic** platform, which serves enterprise-level clients with complex GRC needs.
This launch aligns with Acuity RM Group’s strategy to deliver sustainable growth through organic expansion and acquisitions, positioning the company to address a wider market while maintaining its focus on high-demand sectors like government, defense, and regulated industries.
Launch
AI 1 news title 1
DNM logo DNM

Partnership with AI Company Dappier

Dianomi PLC

**Summary**
Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered financial answers engine designed for financial publisher websites, enabling them to retain audiences and monetize AI-driven conversations directly on their platforms. This solution addresses the challenge of publishers losing audience engagement to external AI platforms like ChatGPT and Claude.
The AI engine leverages publishers journalism and archives to create conversational AI experiences, generating answers from trusted editorial content within the publishers environment. This approach not only retains readers but also integrates native advertising into the conversational experience, creating new revenue streams for publishers and financial brands.
The partnership combines Dappiers conversational AI technology with Dianomis extensive distribution network, reaching 500 million devices monthly across 250+ premium publishers. This has the potential to establish a sector-wide distributed AI answers network. Both CEOs, Rupert Hodson of Dianomi and Dan Goikhman of Dappier, emphasized the partnerships ability to transform financial intent into scalable advertising opportunities while providing a publisher-owned alternative to horizontal AI platforms.
Early responses have been positive, with ongoing discussions for pilot projects with major publishers and advertisers. This initiative positions Dianomi to deepen its publisher ecosystem relationships and expand its advertising opportunities.
AI
Acquisitions 4 news titles 4
Agreement 1 news title 1
Approvals 3 news titles 3
AZN logo AZN

Imfinzi approved in EU for early gastric cancer

AstraZeneca PLC

**Summary**
AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers. The approval is based on positive results from the MATTERHORN Phase III trial, which demonstrated significant improvements in event-free survival (EFS) and overall survival (OS) compared to chemotherapy alone. The regimen includes Imfinzi in combination with FLOT chemotherapy before and after surgery, followed by Imfinzi monotherapy.
Key findings from the MATTERHORN trial include
A 29% reduction in the risk of disease progression, recurrence, or death with the Imfinzi-based regimen.
An estimated 69% of patients were alive at three years with Imfinzi, compared to 62% in the comparator arm.
The safety profile was consistent with known profiles of the individual medicines.
This approval marks AstraZenecas third perioperative approval in Europe for an Imfinzi-based regimen, highlighting the companys commitment to improving outcomes in early-stage cancers where cure is possible. Gastric cancer, the fifth leading cause of cancer death globally, affects nearly one million people annually, with approximately 15,500 drug-treated patients in the EU in 2024. The approval is expected to set a new standard of care for these patients.
Imfinzi is also approved in the US and other countries for this indication, with regulatory applications under review in Japan and several other countries. AstraZeneca continues to expand its immuno-oncology portfolio, focusing on innovative therapies to transform cancer care across various tumor types and stages.
Approvals
TRP logo TRP

License and Farmout Approval Update & Subscription

Tower Resources plc

**Summary**
Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with Prime Global Energies Limited in Cameroon (Thali license) and Namibia (PEL96), with positive progress reported in meetings with government authorities. In Cameroon, the Societe Nationale de Hydrocarbures (SNH) recommended extending the exploration period and approving the farm-out, pending formal documentation. In Namibia, the Upstream Petroleum Unit is expediting approval, with due diligence on Prime completed.
The subscription involves issuing 6,315,785,262 ordinary shares at 0.02375p each, primarily to repay a £1 million convertible bridge loan due March 25, 2026. The remaining proceeds will fund working capital. The company also issued warrants to the broker, Axis Capital Markets Limited, as part of the arrangement.
Tower Resources remains focused on drilling the NJOM-3 well in Cameroon in Q3 2026, subject to rig availability, and is pursuing additional opportunities in Cameroon and Namibia. The company emphasized caution regarding precise approval timelines but expressed confidence in progress. The announcement includes regulatory disclaimers, forward-looking statement notices, and contact details for further information.
Approvals
Authorisation 0 news titles 0

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Awards 1 news title 1
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Vesting of awards under Long Term Incentive Plan

HUTCHMED China Ltd

**Summary**
HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Scientific Officer, received 19,913 ordinary shares as part of this vesting. The awards were initially granted on March 13, 2024. This notification complies with the UK Market Abuse Regulation and includes details about the transaction, the issuer, and the person discharging managerial responsibilities.
HUTCHMED is an innovative biopharmaceutical company focused on developing and commercializing targeted therapies and immunotherapies for cancer and immunological diseases. The company has successfully brought three medicines to market in China, with one also approved globally in regions including the US, Europe, and Japan. Contact information for investor and media enquiries, as well as details about the companys brokers, is provided. The announcement was released via RNS, the news service of the London Stock Exchange, on March 16, 2026.
Awards
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BuyBack 5 news titles 5
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AL Sydbank A/S share buyback programme: transactions in week 11

Sydbank

**Summary**
AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 million, aims to reduce the banks share capital while adhering to EU Safe Harbour regulations (Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/1052).
During week 11, AL Sydbank repurchased 72,000 shares at a total gross value of DKK 37,930,500. The transactions were executed by Danske Bank A/S under ISIN DK 0010311471. Since the programmes inception, the bank has accumulated 139,000 shares, totaling DKK 73,959,120.
Following these transactions, AL Sydbank holds 140,474 own shares, representing 0.16% of its share capital. Further details are available in the attached document, in compliance with EU market abuse regulations.
**Key Points**
Share buyback programme: DKK 1100m (up to 4500000 shares).
Week 11 transactions: 72000 sharesDKK 37930500.
Total accumulated: 139000 sharesDKK 73959120.
Own shares held: 140474 (0.16% of share capital).
Executed by Danske Bank A/S under EU Safe Harbour rules.
BuyBack
0RPR logo 0RPR

Share buyback programme – week 11

Ringkjoebing Landbobank A/S

**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11**
Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to 8 May 2026. The bank aims to buy back shares worth up to DKK 500 million, with a maximum of 600,000 shares, in compliance with EU regulations (Regulation No. 596/2014 and Delegated Regulation No. 2016/1052).
**Key Details**
**Programme Period** 2 February 2026 – 8 May 2026
**Total Buyback Amount** Up to DKK 500 million
**Maximum Shares:** 600000
**Compliance** EU "Safe Harbour" regulations
**Transactions in Week 11**
**Total Shares Bought in Week 11** 159,300
**Average Purchase Price (DKK):** 1624.58
**Total Purchased in Week 11 (DKK)** 258,795,057
**Cumulative Programme Progress**
**Total Shares Bought Under Programme** 1,267,447 (4.99% of share capital)
**Total Amount Spent Under Programme (DKK):** 1,758,779,223
**Historical Context**
**Previous Programmes (28 Jan 2025 – 30 Jan 2026):** 1,108,147 shares bought for DKK 1,499,984,166
**Ownership Update**
The bank now owns 1,267,447 shares, representing 4.99% of its share capital, excluding trading portfolio and customer investments.
**Detailed Transaction Data**
The announcement includes a detailed breakdown of transactions by date, volume, price, venue, and time, adhering to regulatory reporting requirements.
**Conclusion**
Ringkjøbing Landbobank continues its share buyback programme, with Week 11 transactions contributing significantly to the overall goal. The programme remains on track, with detailed transparency in compliance with EU regulations.
BuyBack
RST logo RST

Commencement of £20m Share Buyback Programme

Restore plc

**Summary**
Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year results on 12 March 2026, will involve the purchase of ordinary shares at 5 pence each. The programme is divided into two tranches of £10 million each, executed by Investec Bank plc and Canaccord Genuity Limited, respectively. Purchased shares will be cancelled, reducing the companys share capital.
The buyback is authorized under the companys 2025 annual general meeting (AGM) and will comply with UK Financial Conduct Authority regulations. The maximum number of shares to be purchased is 13,692,406, subject to market conditions, share price, and trading volumes. The first tranche begins immediately, with the second tranche expected to start after the first is completed and conclude no later than 31 March 2027.
For further inquiries, contact details for Restore plc, its brokers, and PR consultants are provided. The announcement was released via RNS, the news service of the London Stock Exchange, on 16 March 2026.
BuyBack
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Share Buyback Programme

Life Settlement Assets PLC

**Summary**
Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary Share. The program aims to repurchase shares when it is in shareholders best interests and accretive to NAV. The company has allocated funds for the program, which will be managed by its broker, Cavendish Capital Markets Limited, within pre-set parameters. The maximum number of shares to be acquired is capped at 14.99% of the issued share capital, under authority granted by shareholders in June 2025. Repurchased shares will be cancelled, and the program’s continuation beyond June 2026 requires fresh shareholder approval. LSAA will also explore other capital return options, such as special dividends, while monitoring liquidity and policy advance costs. The company specializes in investing in life settlement policies, primarily in the U.S., to generate long-term returns for investors.
BuyBack
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DirectorDealing 41 news titles 41
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Director/PDMR Shareholding

Vistry Group PLC

<mark style="background-coloryellow">Purchase</mark> of shares by the Trustee of the Vistry Group PLC Share Incentive Plan (the "Plan"). This is a continuing membership in the Plan which is funded via deductions from salary each month.
TSCO logo TSCO

Director/PDMR Shareholding

Tesco PLC

<mark style="background-coloryellow">Purchase</mark> of shares under the Tesco PLC Share Incentive Plan (the "SIP")
SDLF logo SDLF

Director/PDMR Shareholding

Standard Life PLC

Full details of the share <mark style="background-color:yellow">purchase</mark> are set out below.
HTWS logo HTWS

Director/PDMR Shareholding

Helios Towers Plc

The following notification made under Article 19(1) of the UK Market Abuse Regulation ("UK MAR") relates to the <mark style="background-color:yellow">purchase</mark> of Company shares on behalf of a PDMR, and a conditional award to another PDMR to receive shares, in both cases to satisfy the deferred portion of the annual bonus in respect of the financial year ended 31 December 2025. This announcement is made in accordance with Article 19(3) of UK MAR.
PCT logo PCT

Director/PDMR Shareholding

Polar Capital Technology Trust

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
CPI logo CPI

Director/PDMR Shareholding

Capita PLC

<mark style="background-coloryellow">Purchase</mark> of shares by Adolfo Hernandez, Chief Executive Officer
BRK logo BRK

Director/PDMR Shareholding

Brooks Macdonald Group

<mark style="background-coloryellow">Purchase</mark> of ordinary shares of 1p each in the Company
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JV 1 news title 1
Launch 4 news titles 4
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Launch of Roadshow for US Initial Public Offering

Guardian Metal Resources PLC

**Summary**
Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL."
Key details of the offering include
**Offering Size** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM).
**Underwriters Option** A 45-day option for underwriters to purchase up to an additional 15% of the offering size.
**Use of Proceeds** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes.
**Underwriters** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers).
The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.
Launch
FORT logo FORT

Launch of £20m Share Buyback Programme

Forterra PLC

**Summary**
Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-year results, aims to purchase and cancel ordinary shares of 1 pence each, thereby reducing the companys share capital.
The buyback will be executed in two tranches: the first tranche of £10 million will begin immediately, managed by Joint Corporate Broker Investec Bank plc, acting as a riskless principal. The second tranche will follow upon completion of the first and is expected to conclude by December 31, 2026, subject to market conditions. The total number of shares to be purchased is capped at 21,280,338, as authorized by shareholders at the 2025 Annual General Meeting.
Purchases will occur in open market transactions, adhering to UK regulatory requirements, including the Financial Conduct Authoritys Listing Rules and EU regulations as part of UK domestic law. Transactions will be announced within seven market sessions of their occurrence. Forterras CEO Neil Ash and CFO Ben Guyatt are key contacts for inquiries.
Launch
SDG logo SDG

Launch of Zoffany x Michael S. Smith Collection

Sanderson Design Group PLC

**Summary**
Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned American interior designer Michael S. Smith features 55 new designs hand-selected from Zoffanys archives, combining vintage aesthetics with technical innovation. The fabrics are made from performance-led materials suitable for both indoor and outdoor use, addressing a market gap. The collection, launching in May 2026, reinforces Zoffanys luxury brand positioning and supports global growth, particularly in North America. CEO Lisa Montague and Michael S. Smith highlighted the collections innovative design and versatility, emphasizing its potential to set a new standard for indoor-outdoor living. The fabrics will be distributed globally through Sanderson Design Groups network.
Launch
ACRM logo ACRM

Product Launch

Acuity RM Group Plc

**Summary**
Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk management platform. This product is the culmination of the NextGen STREAM® programme, initially announced in June 2025, and addresses quality issues identified during its initial rollout by undergoing comprehensive redevelopment and <mark style="background-color:yellow">test</mark>ing.
**STREAM® Cloud** offers enhanced configurability, usability, and AI-readiness, targeting mid-market organizations at the early-to-intermediate stage of cyber risk management. Key features include rapid deployment, guided workflows, risk lifecycle management, simplified reporting, and pre-configured content aligned with industry standards. Delivered as a SaaS solution on Microsoft Azure, it provides a lower entry price point and a clear upgrade pathway to **STREAM® Classic** for customers with evolving needs.
The launch aims to capitalize on increasing regulatory demands (e.g., NIS2, DORA, UK Cyber Security and Resilience Bill) and growing board-level interest in structured cyber risk reporting. CEO David Rajakovich emphasized the product’s role in broadening the company’s market reach, accelerating customer acquisition, and driving recurring revenue growth. **STREAM® Cloud** complements the existing **STREAM® Classic** platform, which serves enterprise-level clients with complex GRC needs.
This launch aligns with Acuity RM Group’s strategy to deliver sustainable growth through organic expansion and acquisitions, positioning the company to address a wider market while maintaining its focus on high-demand sectors like government, defense, and regulated industries.
Launch
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NewContract 1 news title 1
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Contract award in Denmark

Journeo PLC

**Summary**
Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (DSB), Denmarks largest state-owned passenger rail operator. This marks the first widescale on-train system contract for Journeos Nordic subsidiary since its acquisition in September 2023. The contract involves supplying and installing modern bodyside LED display panels into DSBs Dosto double-deck rail coaches, replacing outdated technology to enhance passenger experience and accessibility. Journeo demonstrated its engineering expertise by integrating the solution with existing onboard systems, avoiding the need for a complete technology refit. Installation is expected to begin in the second half of 2026 and be substantially completed by year-end. Russ Singleton, Journeos CEO, highlighted the strategic importance of this contract in expanding the companys presence in new territories and emphasized the collaborative effort across the Group to deliver the solution. Journeo plc operates through six subsidiaries, focusing on intelligent transport systems, passenger information systems, and critical infrastructure protection, with significant investment in research and development to drive innovation.
NewContract
Offers 5 news titles 5
CABP logo CABP

RESPONSE TO POSSIBLE OFFER ANNOUNCEMENT

CAB Payments Holdings Ltd

**Summary**
CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of the entire issued and to-be-issued share capital of CAB Payments at 95 pence per share in cash. The proposal is subject to several pre-conditions outlined in the StoneX announcement.
The Independent Board of CAB Payments (excluding Henry Obi and Nitin Kaul) is currently evaluating the offer with financial and legal advisors. They emphasize the companys improved financial and operational performance in FY25 and its strategic guidance provided to the market on March 5, 2026. The Board remains confident in delivering attractive returns to shareholders, supported by its relationship-led approach to winning and retaining clients.
There is no certainty that StoneX will proceed with a formal offer or its terms. CAB Payments shareholders are advised to take no action at this time. The Takeover Panel will set a deadline for StoneX to either announce a firm intention to make an offer or confirm it does not intend to proceed.
The announcement includes standard legal disclaimers, regulatory notices, and contact details for CAB Payments and its advisors. It also outlines disclosure requirements under the City Code on Takeovers and Mergers for parties interested in 1% or more of relevant securities.
Offers
EWI logo EWI

Circ re. Edinburgh Worldwide Inv Trst Tender Offer

Edinburgh Worldwide Investment Trust plc

**Summary**
Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide shareholders with a choice to realize value from their investment before a potential change of control by Saba, a minority shareholder with a 30% stake.
Chair Jonathan Simpson-Dent highlights that Saba intends to replace the board, appoint a new manager, and shift the investment mandate away from long-term global technological innovation. The board argues that the regulatory framework does not adequately protect shareholders from Sabas control agenda. The tender offer allows shareholders to exit at a fair value while retaining exposure to SpaceX, EWITs largest investment.
Shareholders must vote by April 8, 2026, and separately elect to tender shares by April 16, 2026. The board strongly recommends voting in favor of the tender offer to protect investments and end uncertainty surrounding Sabas actions. The announcement also includes important legal and regulatory information for shareholders, particularly those in the United States.
Offers
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Reports 19 news titles 19
THR logo THR

Half-year Report for the 6 months ending 31 Dec 25

Thor Mining PLC

**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025**
Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 December 2025. The report highlights the companys strategic focus on portfolio rationalization, exploration advancements, and financial performance.
**Key Highlights**
1. **Portfolio Rationalization and Exploration:**
The company prioritized de-risking its asset portfolio and advancing its HY-Range natural hydrogen and helium project in South Australia.
Field activities at HY-Range confirmed the presence of working hydrogen and helium systems, with seismic planning underway for mid-2026 data acquisition.
2. **Board Changes**
Andrew Hume assumed the expanded role of Managing Director and CEO, allowing Alastair Clayton to transition to a Non-Executive Chairman role.
3. **Asset Sales and Farm-outs**
Thor Energy sold its 75% holding in the Molyhil tungsten-molybdenum project to Tivan Limited, generating significant cash inflows and eliminating the need for capital raising.
The company farmed down its US uranium projects to Metals One PLC, retaining a 25% stake free of holding and administration costs.
4. **Financial Performance**
The company reported a loss before taxation of £1,255,000 for the half-year, with net cash outflows of £473,000 from operating activities.
As of 31 December 2025Thor Energy had £787000 in cash and cash equivalents.
5. **Going Concern**
The report highlights a material uncertainty regarding the companys ability to continue as a going concern, dependent on successful asset sales or capital raising.
6. **Post-Balance Sheet Events**
Thor Energy received a A$2,250,000 (£1,125,000) cash completion payment for the Molyhil project sale in January 2026.
The company was awarded two Regulated Substance Exploration Licence Applications in South Australia in February 2026.
**Financial Summary**
**Loss before taxation:** £1255000
**Net cash outflows from operating activities:** £473,000
**Cash and cash equivalents:** £787000 (as of 31 December 2025)
**Conclusion**
Thor Energy PLCs half-year report reflects a strategic focus on portfolio optimization, exploration advancements, and financial management. While the company faces challenges related to its going concern status, recent asset sales and cash inflows provide a measure of financial stability. The companys continued focus on hydrogen, helium, and energy metals exploration positions it for potential growth in these emerging sectors.
Here’s an HTML table comparing the financials and debt year-on-year for Thor Energy PLC based on the provided text:
Metric6 Months Ended 31 Dec 20256 Months Ended 31 Dec 2024Year Ended 30 Jun 2025
Operating Loss (£'000)(553)(437)(5,993)
Loss Before Taxation (£'000)(1,255)(533)(7,441)
Loss for the Period (£'000)(1,255)(533)(7,441)
Total Comprehensive Loss (£'000)(1,250)(1,185)(8,280)
Net Assets (£'000)8,12112,8179,227
Cash and Cash Equivalents (£'000)7871,091686
Total Current Liabilities (£'000)(274)(483)(208)
Total Equity (£'000)8,12112,8179,227
Net Cash from Operating Activities (£'000)(475)(342)(900)
Net Cash from Investing Activities (£'000)608(61)(87)
Net Cash from Financing Activities (£'000)(10)738918
### Key Observations: 1. **Operating Loss**: Increased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but significantly lower than the full year ended 30 Jun 2025. 2. **Loss Before Taxation**: Higher in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but lower than the full year ended 30 Jun 2025. 3. **Net Assets**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but slightly higher than the full year ended 30 Jun 2025. 4. **Cash and Cash Equivalents**: Lower in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but higher than the full year ended 30 Jun 2025. 5. **Total Current Liabilities**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 and the full year ended 30 Jun 2025. 6. **Net Cash Flows**: Negative cash flow from operating activities in all periods, with positive cash flow from investing activities in the 6 months ended 31 Dec 2025 due to asset sales. This table provides a concise comparison of key financial metrics year-on-year, highlighting trends and changes in Thor Energy PLC's financial position.
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2025 Full Year Report for the year ended 30/9/25

River Global Plc

**Summary of River Global PLCs 2025 Full Year Report:**
**Financial Performance**
**Revenue Decline** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market conditions.
**Losses** The overall loss before taxation for the A share business interest was £13.4 million, including an £8.1 million impairment of goodwill due to the post-balance sheet disposal of River Global Holdings Limited and its subsidiaries. Excluding the goodwill write-down, the loss before taxation was £5.2 million.
**EBITDA Loss** Losses on an EBITDA basis for the A share business interest were -£2.9 million, compared to -£5.7 million in 2024, adjusted for discontinued operations and exceptionals.
**Cost Reductions** Achieved cost reductions of nearly £5 million over the year.
**Strategic Developments**
**Sale of Operating Business** Announced the sale of River Global Holdings Limited and its subsidiaries to Liontrust Asset Management PLC, considered a post-balance sheet event.
**Operational Consolidation** Successfully consolidated all funds into a single umbrella structure, delivering a single operating platform and harmonizing branding.
**New Mandates** Secured a substantial new UK small cap mandate for Phoenix Group and launched funds for Blevins Franks, boosting assets under management and industry profile.
**Performance** 69% of funds outperformed peers over one year, 88% over three years, and 67% over five years.
**B Shares (Parmenion)**
**Robust Performance** Parmenions assets increased by £2 billion to £13.1 billion, with revenue up to £50.2 million and profit to £17.5 million in 2024. EBITDA rose to £20.1 million.
**Continued Growth** As of December 31, 2025, assets under management or administration increased to over £16 billion.
**Challenges and Outlook**
**Market Headwinds** Continued outflows and challenging market conditions, including geopolitical tensions and economic uncertainties, impacted performance.
**Profitability Goal** Despite challenges, the company is focused on achieving profitability, with cost savings and operational efficiencies in place.
**Future Opportunities** The company sees potential in active asset management as market conditions evolve, with an uptick in performance and interest in some funds.
**Corporate Governance and Strategy**
**Share Reorganization** Completed a share reorganization in March 2025, aligning shareholders interests with the Groups main business interests.
**Acquisition** Acquired Devon Equity Management Limited in October 2025, integrating its team and assets into River Global.
**ESG Commitment** Committed to responsible business practices, including environmental, social, and governance (ESG) initiatives, and adherence to high standards of integrity and transparency.
**Key Financials (Consolidated)**
**Total Assets** £48.886 million (2024: £60.523 million).
**Total Liabilities** £6.439 million (2024: £7.404 million).
**Total Equity** £42.447 million (2024: £53.119 million).
**Loss for the Year** £11.238 million (2024: £2.452 million).
**Conclusion**
River Global PLC faced significant challenges in 2025 due to adverse market conditions, resulting in revenue decline and losses. However, strategic initiatives such as cost reductions, operational consolidation, and new mandates have positioned the company for potential recovery. The sale of the operating business and acquisition of Devon Equity Management Limited mark significant strategic shifts. Despite ongoing headwinds, the company remains focused on achieving profitability and enhancing its market position through active asset management and ESG commitments.
Here is a comparison of River Global PLC's financials and debt year on year, presented as an HTML table: tr> td>-49.8%
Metric20242025Change
Revenue (£m)14.412.2-15.3%
EBITDA (£m)-5.7-2.949.1% improvement
Loss before taxation (£m)-4.9-13.4175.5% increase in loss
Goodwill impairment (£m)0-8.1N/A
Assets under management (£m)2,7792,351-15.4%
Total net assets (£m)26.113.1
Cash and cash equivalents (£m)8.76.1-29.9%
Total liabilities (£m)7.46.4-13.5%
**Key Observations:** * **Revenue Decline:** Revenue decreased by 15.3% from £14.4m in 2024 to £12.2m in 2025, likely due to industry headwinds and outflows. * **EBITDA Improvement:** Despite revenue decline, EBITDA loss improved by 49.1%, indicating successful cost-cutting measures. * **Increased Loss:** The loss before taxation significantly increased due to a substantial goodwill impairment of £8.1m in 2025. * **Asset and Liability Changes:** Assets under management, total net assets, and cash equivalents all decreased, while total liabilities also decreased but at a slower rate. **Note:** This table focuses on key financial metrics. For a comprehensive understanding, refer to the full financial statements and accompanying notes.
VOF logo VOF

Half-year Financial Report

VinaCapital Vietnam Opportunity Fund

**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):**
**Overview**
VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period from July 1, 2025, to December 31, 2025. The report highlights the funds performance, investment strategy, and outlook for the Vietnamese market.
**Financial Performance**
**Net Asset Value (NAV) per share** Increased by 11.9% to USD 7.97, resulting in a total return of 12.8% in USD terms.
**Share Price** Increased by 10.3% on a USD total return basis.
**Dividend** Paid 7.25 US cents per share in December 2025, with the next dividend of the same amount payable on May 6, 2026.
**Investment Strategy and Portfolio**
**Benchmark Agnostic** VOF does not follow a specific index but notes the strong performance of the VN Index (up 29.8%) driven by Vingroup (VIC), which the fund does not hold due to valuation and transparency concerns.
**Portfolio Repositioning** The fund actively repositioned its portfolio, trimming long-term holdings and reinvesting in new opportunities, adding 4.4% to the calendar year return.
**Private Investments** Progress was made in distressed privately negotiated investments, including restructuring the holding in Dat Xanh Real Estate Services (DXS) into listed shares in Dat Xanh Group (DXG), resulting in a USD 6.7 million uplift.
**Sector Focus** Key sectors include Financials (29.9% of NAV), Real Estate (25.4%), Industrials (17.4%), and Consumer (24.2%).
**Market and Economic Outlook**
**Vietnamese Economy** Expected to grow over 8% in 2026, driven by infrastructure development and real estate market stimulation.
**Challenges** Potential impact of Middle East tensions on inflation and interest rates, and the need for continued economic reforms.
**Investment Opportunities** The fund sees opportunities in both public and private markets, particularly as Vietnam moves towards Emerging Market status, which should improve market liquidity and breadth.
**Corporate Actions and Governance**
**Board Changes** Charlotta Ginman took over as Chair of the Audit Committee and Management Engagement Committee. Julian Healy remains on the Board focusing on private equity investments.
**Share Repurchase Program** 7.0 million shares were bought back at a cost of USD 44.3 million, helping to control the discount and increase NAV.
**Management Fees** The Board is reviewing management fees to align them more closely with market levels.
**Conclusion**
VOF remains optimistic about the Vietnamese market, despite short-term challenges. The funds strategy focuses on identifying undervalued opportunities in both listed and private markets, leveraging its expertise in privately negotiated investments. The Board and Investment Manager are committed to enhancing shareholder value through active portfolio management, dividend payments, and strategic corporate actions.
Here is a comparison of the financials and debt year on year for VinaCapital Vietnam Opportunity Fund Limited, presented as an HTML table:
Metric2024 (Year ended 30 June)2025 (Six months ended 31 December)
Total Assets (USD'000)965,9921,060,755
Total Liabilities (USD'000)1,82138,466
Shareholders' Equity (USD'000)964,1711,022,289
Net Asset Value (NAV) per share (USD)7.137.97
Profit for the period (USD'000)25,824111,640
Earnings per share (USD)0.170.85
Dividends paid (USD'000)10,6579,470
Dividend per share (USD)0.07250.0725
Loans and other borrowings (USD'000)025,000
**Key Observations:** - **Total Assets**: Increased by 9.8% from USD 965,992 in 2024 to USD 1,060,755 in 2025. - **Total Liabilities**: Increased significantly from USD 1,821 in 2024 to USD 38,466 in 2025, primarily due to the new loan facility of USD 25,000. - **Shareholders' Equity**: Increased by 6.0% from USD 964,171 in 2024 to USD 1,022,289 in 2025. - **NAV per share**: Increased by 11.8% from USD 7.13 in 2024 to USD 7.97 in 2025. - **Profit for the period**: Increased significantly from USD 25,824 in 2024 to USD 111,640 in 2025. - **Earnings per share**: Increased from USD 0.17 in 2024 to USD 0.85 in 2025. - **Dividends paid**: Decreased slightly from USD 10,657 in 2024 to USD 9,470 in 2025, but the dividend per share remained the same at USD 0.0725. - **Loans and other borrowings**: Increased from USD 0 in 2024 to USD 25,000 in 2025 due to the new revolving credit facility. This table provides a concise comparison of key financial metrics and debt levels between the year ended 30 June 2024 and the six months ended 31 December 2025 for VinaCapital Vietnam Opportunity Fund Limited.
Results 15 news titles 15
KEN logo KEN

Excellent Drill Assay Results at Bonya REE project

Kendrick Resources PLC

**Summary**
Kendrick Resources Plc (LSEKEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceeded expectations, highlighting pervasive high-grade Total Rare Earth Oxide (TREO) and Light Rare Earth Oxide (LREO) mineralization. Key highlights include
1. **High-Grade Intercepts** Drill hole TWDD001 showed notable intercepts, including 8.14 wt% TREO over 21.16 meters, with grades never dropping below 6.0 wt% and peaking at 10.7 wt% TREO.
2. **Depth Potential** The hole ended in mineralization at 6.09 wt% TREO, suggesting continued mineralization at depth.
3. **Low Radioactive Elements** Thorium and Uranium grades were minimal (0.019% and 0.000196%, respectively), indicating no penalties for REE products.
4. **Benchmarking** Teufelskuppe ranks among the top global REE projects, including operating mines, with high grades of critical elements like Praseodymium and Neodymium (Nd/Pr combined 1.00 wt%).
5. **Resource Potential** Historic surface sampling and current drilling suggest significant resource potential across the TK carbonatite landscape and the neighboring Keishohe complex.
6. **Next Steps** Kendrick plans to deploy a second rig for reconnaissance drilling and accelerate resource definition, aiming for a Preliminary Economic Assessment (PEA).
Chairman Colin Bird expressed satisfaction with the results, emphasizing the project’s potential to be among the top global REE producers. The company remains focused on expanding drilling and metallurgical work to further validate the project’s resource potential.
The provided text does not contain specific financial or debt data for Kendrick Resources Plc that can be compared year-on-year. Instead, it focuses on drilling results and project benchmarks. However, I can create a placeholder HTML table structure that you could use if such financial data were available. Below is an example of how you might structure an HTML table to compare financials and debt year-on-year: < lang="en">Kendrick Resources Plc Financials and Debt Comparison

Kendrick Resources Plc Financials and Debt Comparison

Metric202420252026Change 2025-2026
Revenue (€)10,000,00012,000,00015,000,000+25%
Net Income (€)1,000,0001,500,0002,000,000+33.33%
Total Debt (€)5,000,0004,500,0004,000,000-11.11%
Debt-to-Equity Ratio0.50.450.4-11.11%
### Explanation: - **Table Structure**: The table is structured with columns for the metric being compared (e.g., Revenue, Net Income, Total Debt, Debt-to-Equity Ratio) and rows for the years (2024, 2025, 2026). - **Placeholder Data**: Since the provided text does not contain actual financial data, placeholder values are used. In a real-world scenario, you would replace these with actual figures. - **Change Column**: The last column calculates the percentage change between 2025 and 2026 for each metric. If you have specific financial data from the text or another source, you can update the table accordingly.
SRC logo SRC

Full Year Results and Notice of AGM

Sigmaroc PLC

**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025**
**Financial Performance Highlights**
**Revenue Growth** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower volumes.
**EBITDA Improvement** Underlying EBITDA rose by 16.7% to £262.2 million, with a margin of 25.3%, reflecting strong cost discipline and synergy delivery.
**Profit Before Tax** Profit before tax surged by 115.9% to £98.9 million, supported by operational efficiency and cost management.
**Earnings Per Share (EPS)** Underlying EPS increased by 25.9% to 10.51p, ahead of previous guidance.
**Free Cash Flow (FCF)** FCF grew by 18.4% to £133.8 million, with a conversion rate of 51%.
**Net Debt Reduction** Net debt decreased by 7.3% to £472.4 million, with covenant leverage improving to 1.8x.
**Operational and Strategic Achievements**
**Synergy Program** Achieved minimum target of €40 million in recurring synergies two years ahead of schedule, lifting EBITDA and offsetting volume-related losses.
**Divestments** Completed the sale of three non-core businesses for £18 million, optimizing the portfolio.
**Refinancing** Secured a new financing facility of up to €825 million on investment-grade terms, enhancing financial flexibility.
**Ventures** SkreenHouse, the venture arm, reviewed over 250 projects and made 8 investments in innovative construction technologies.
**Sustainability** Maintained CDP Climate Change rating of B and improved Water Security rating to B. Progressed decarbonization initiatives, including kiln conversions and increased use of renewable energy.
**Market and Outlook**
**Market Conditions** Core volumes were down 3% due to softer construction and steel markets, but there are encouraging signs of recovery in several regions.
**Structural Trends** Expected benefits from the German infrastructure stimulus, improving steel industry conditions, and increased defense spending.
**Residential Market** Housing remains at cyclical lows, but a significant shortfall in European housing stock suggests potential future demand.
**Growth Opportunities** Data center, AI, and green economy investments provide additional opportunities for the construction materials segment.
**Governance and Investor Engagement**
**Capital Markets Day** Successfully held the inaugural event, outlining the 5-year plan and engaging with over 70% of shareholders.
**Board Stability** Maintained a stable and engaged board, with full attendance and active participation in governance and investor activities.
**Strategic Advisory Board** Established to focus on long-term strategic direction.
**Future Priorities**
**Safety and Operations** Improve safety and operating standards across all sites.
**Margin Protection** Strengthen margins through cost and capital discipline.
**Growth Conversion** Convert improving infrastructure and industrial demand into profitable growth.
**Selective Growth** Pursue organic and acquisitive growth where long-term returns are compelling.
**Conclusion**
SigmaRoc PLC delivered a strong financial performance in 2025, marked by significant improvements in profitability, cash flow, and operational efficiency. The company is well-positioned to capitalize on emerging structural trends in Europe, supported by a diversified portfolio, strategic divestments, and a focus on sustainability. The board remains optimistic about the future, with clear priorities to drive further growth and value creation.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2024 (£m)2025 (£m)YoY Change
Revenue997.61,035.9+3.8%
EBITDA224.6262.2+16.7%
Profit before tax117.6154.0+31.0%
Net debt509.5472.4-7.3%
Covenant Leverage (x)2.091.80-13.9%
**Key Observations:** * **Revenue Growth:** Revenue increased by 3.8% year-on-year, driven by pricing and mix benefits. * **Improved Profitability:** EBITDA and profit before tax showed significant growth of 16.7% and 31.0% respectively, indicating improved operational efficiency and cost management. * **Debt Reduction:** Net debt decreased by 7.3%, and covenant leverage improved by 13.9%, reflecting stronger cash flow and financial discipline.
MSLH logo MSLH

Final Results

Marshalls PLC

**Summary of Marshalls PLC Final Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Marshalls PLC reported a 2% increase in revenue to £632.1 million, driven by growth in Building and Roofing Products, partially offset by a 1% decline in Landscaping Products.
**Adjusted Profit Before Tax** Adjusted profit before tax decreased by 16% to £43.7 million, in line with market expectations, due to lower profitability in Landscaping Products and increased costs.
**Dividend** The proposed final dividend is 4.5 pence per share, resulting in a total dividend of 6.7 pence, down 16% due to weaker profitability.
**Operational Highlights**
**Landscaping Products** Despite a 1% revenue decline, the segment saw 4% volume growth, outperforming a flat market. The company implemented a performance improvement plan, including cost savings of £11 million by 2026, and reduced portfolio complexity.
**Building Products** Revenue grew by 4%, with strong performances in Water Management and Mortars. Strategic growth initiatives in Water Management are progressing well.
**Roofing Products** Revenue increased by 4%, with Viridian Solar achieving 32% growth, benefiting from new build energy efficiency regulations.
**Strategic Initiatives**
**Transform & Grow Strategy** The company is intensifying the execution of its strategy, focusing on margin improvement, cash generation, and service enhancement. This includes selective activity, organizational focus on delivery, and strengthened commercial discipline.
**Cost Savings** On track to deliver £11 million in annualized cost savings by the end of 2026, with £3 million realized in 2025.
**Market Position** Strengthened customer relationships and market share gains, particularly in Landscaping Products, despite subdued end markets.
**Financial Position**
**Balance Sheet** Robust balance sheet with pre-IFRS 16 net debt of £137.9 million and leverage of 1.8 times adjusted EBITDA.
**Cash Flow** Adjusted operating cash flow conversion of 88%, reflecting disciplined working capital management.
**Refinancing** Successfully refinanced the £270 million facility in November, maintaining commercial terms and providing flexibility for strategic execution.
**Outlook**
**Market Conditions** Market activity levels in early 2026 remained consistent with late 2025, impacted by persistent rainfall.
**Strategic Focus** Priority is on disciplined implementation of the Transform & Grow strategy, with a focus on margin, cash, and service improvements.
**Profitability** The Board is confident of driving a material increase in profitability and returns over the medium term, despite ongoing macroeconomic uncertainties.
**CEO Commentary**
Simon Bourne, CEO, emphasized decisive actions to strengthen Marshalls foundations, returning the company to revenue growth and delivering adjusted profit before tax in line with guidance. He highlighted progress in Landscaping Products improvement plan and the positioning of Roofing and Building Products to capture regulatory and infrastructure-led demand. The focus remains on disciplined execution to achieve sustainable, profitable growth.
**ESG Progress**
**Carbon Leadership** Progress on net-zero targets, validated by the Science Based Targets initiative (SBTi), with a focus on carbon reduction and improved ESG reporting.
**Climate Adaptation** Water management and drainage solutions play a key role in improving flood resilience and water handling.
**Responsible Business Practices** Continued focus on human rights due diligence and supplier improvement programs, especially in high-growth international supply chains.
**Conclusion**
Marshalls PLC demonstrated resilience in 2025, achieving revenue growth and adjusted profit before tax in line with expectations, despite challenging market conditions. The companys strategic initiatives, cost discipline, and focus on sustainable growth position it well for medium-term profitability and returns.
Here is the HTML table code comparing the financials and debt year on year for Marshalls PLC:
Metric2025 (£'M)2024 (£'M)Change
Revenue632.1619.22%
Adjusted EBITDA85.097.8(13%)
Adjusted Operating Profit56.466.7(15%)
Adjusted Profit Before Tax43.752.2(16%)
Pre-IFRS 16 Net Debt137.9133.93%

Key Observations:

  • Revenue increased by 2% year on year, from £619.2M in 2024 to £632.1M in 2025.
  • Adjusted EBITDA decreased by 13%, from £97.8M in 2024 to £85.0M in 2025.
  • Adjusted Operating Profit decreased by 15%, from £66.7M in 2024 to £56.4M in 2025.
  • Adjusted Profit Before Tax decreased by 16%, from £52.2M in 2024 to £43.7M in 2025.
  • Pre-IFRS 16 Net Debt increased by 3%, from £133.9M in 2024 to £137.9M in 2025.
This table provides a clear comparison of the key financial metrics and debt levels for Marshalls PLC between 2024 and 2025. The observations highlight the changes in each metric, showing a mixed performance with revenue growth but declines in profitability and an increase in net debt.
BKS logo BKS

Interim Results

Beeks Trading Corporation Ltd

**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):**
**Financial Highlights**
**Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting strong recurring revenue growth.
**New Contracts** Total Contract Value (TCV) of new contracts signed rose by 23% to £11.9 million (H1 FY25: £9.7 million), driven by high demand across all offerings.
**Revenue and Profitability** Revenues slightly declined to £14.65 million (H1 2025: £15.79 million) due to contract timing and the shift to a revenue share model for Exchange Cloud. Gross profit fell to £4.50 million (H1 2025: £6.03 million), and underlying EBITDA decreased to £4.12 million (H1 2025: £5.74 million). Underlying profit before tax turned to a loss of £0.69 million (H1 2025: £1.89 million profit), but strong profit progression is expected in H2 as contracts deploy and revenue recognition commences.
**Cash Position** Gross cash remained stable at £6.96 million, with net cash at £3.29 million (H1 2025: £6.57 million) after upfront investments to support contract wins.
**Operational Highlights**
**Commercial Momentum** Secured £6 million TCV of Proximity Cloud contracts in December 2025, with revenue recognition largely starting in H2.
**Exchange Cloud** Signed two new contracts (TMX Group and nuam) under the revenue share model, bringing the total to seven exchanges signed, with four on the revenue share model. Live deployments are transitioning to profitability ahead of expectations.
**Market Edge Intelligence™** Launched an AI-powered analytics platform, with a proof-of-concept customer (a major global bank) now in contractual discussions.
**Customer Base** Supports over 30 Tier-1 banks and investment managers, with significant expansion opportunities.
**Outlook**
**H2 FY26 Revenue** Expected to be supported by £4.5 million in revenue recognition from H1 contract wins, remaining deployment of the Grupo Bolsa Mexicana (BMV) DR site, and go-live of two Exchange Cloud contracts.
**Pipeline** Multiple significant contracts in discussion across all offerings, with the Board confident in full-year performance in line with expectations.
**Long-Term Growth** Significant addressable opportunity with limited competition, positioning the company for considerable long-term growth.
**CEO’s Commentary (Gordon McArthur)**
Highlighted strong commercial momentum and a robust customer base with expansion potential. Emphasized that while H1 financial performance was impacted by contract timing and revenue share models, it lays the foundation for significant profitable growth in the future.
**CFO’s Commentary (Fraser McDonald)**
Noted the impact of contract timing and revenue share models on H1 financials but stressed the strengthening recurring revenue base and expected H2 profitability. Highlighted continued investment in infrastructure and product development, with a focus on efficient capital allocation and margin improvement.
**Key Metrics**
**ACMRR Growth** 15% to £32.80 million.
**TCV Growth** 23% to £11.9 million.
**Revenue Decline** 7% to £14.65 million.
**Gross Profit Decline** 25% to £4.50 million.
**Underlying EBITDA Decline** 28% to £4.12 million.
**Underlying Loss Before Tax** £0.69 million (H1 2025: £1.89 million profit).
**Conclusion**
Beeks Financial Cloud Group PLC demonstrated strong commercial progress in H1 FY26, despite short-term financial headwinds due to contract timing and revenue model transitions. The company is well-positioned for significant revenue and profit growth in H2 and beyond, supported by a robust pipeline, expanding customer base, and innovative product offerings.
Here is the HTML table code comparing the financials and debt year on year for Beeks Financial Cloud Group PLC:
MetricH1 2026H1 2025Change
Revenue (£'000)14,65315,794(7%)
Gross Profit (£'000)4,5006,028(25%)
Underlying EBITDA (£'000)4,1205,740(28%)
Underlying (Loss)/Profit Before Tax (£'000)(690)1,890(136%)
Statutory (Loss)/Profit Before Tax (£'000)(1,868)461(506%)
Net Cash (£'000)3,2906,570(50%)
Gross Debt (£'000)8,5991,953340%
Net Debt (£'000)(1,641)5,378(131%)
**Notes:** * The table compares key financial metrics and debt figures for H1 2026 and H1 2025. * The "Change" column shows the percentage change between the two periods. * The data is extracted from the provided text, which includes the company's interim results announcement. * The table focuses on the most relevant financial and debt metrics, providing a snapshot of the company's performance and financial position year on year.
ATT logo ATT

Final Results

Allianz Technology Trust PLC

**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025**
**Overview**
Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increase in Net Asset Value (NAV), outperforming its benchmark, the Dow Jones World Technology Index, which rose by **20.0%**. This represents a **4.7 percentage point outperformance**. The share price total return was slightly higher at **25.8%**, supported by a narrowing discount to NAV.
**Key Highlights**
1. **Performance**ATT’s differentiated strategy, focusing on mid- and large-cap technology companies rather than solely on the largest firms, drove its outperformance. Holdings in companies like Micron Technology, Lam Research, and Robinhood Markets contributed significantly to the results.
2. **Portfolio Strategy**The Trust avoided over-concentration in the "Magnificent 7" mega-cap tech companies, instead diversifying into smaller firms with strong growth potential. This approach mitigated risks associated with passive index replication.
3. **Discount Management**The discount to NAV narrowed from **8.6%** at the end of 2024 to **7.8%** in 2025. The Board continued its share buyback program, repurchasing **26,088,876 shares** for **£124.99 million** during the year, with further buybacks post-year-end.
4. **Awards**ATT was named **2025 Investment Company of the Year** in the Technology category by Investment Week, recognizing its strong three-year performance and strategic differentiation.
5. **Geopolitical Context**Despite global uncertainties, including trade tariffs, the Ukraine war, and Middle East tensions, technology demand remained robust, supporting the sector’s growth.
6. **Costs**The Ongoing Charges Figure (OCF) decreased marginally to **0.62%**, maintaining ATT’s position as the lowest-cost trust in its AIC peer group.
**Portfolio Insights**
**Top Holdings**NVIDIA, Alphabet, Microsoft, Apple, and Broadcom were the largest holdings, collectively representing **62.3%** of the portfolio.
**Sector Focus**Semiconductors and semiconductor equipment accounted for **32.5%** of the portfolio, delivering an average return of **45.6%**.
**New Additions**Robinhood Markets was a notable new addition, contributing **1 percentage point** to relative performance.
**Outlook**
The Trust anticipates ongoing volatility due to geopolitical tensions and market dynamics, particularly around AI valuations. However, the long-term growth prospects for technology remain strong, supported by innovation and increasing demand. ATT’s active management approach, combined with its focus on diversification and risk mitigation, positions it well to navigate these challenges.
**Governance and Future Plans**
The Board will seek authority at the **2026 AGM** to buy back up to **14.99%** of issued shares.
Shareholders will vote on the continuation of the Trust, with the Board strongly recommending approval given ATT’s strong performance and strategic positioning.
**Conclusion**
Allianz Technology Trust PLC demonstrated resilience and strong performance in 2025, outperforming its benchmark through a differentiated and actively managed portfolio. Despite global uncertainties, the Trust remains well-positioned to capitalize on the long-term growth opportunities in the technology sector.
Here’s an HTML table comparing the financials and debt year-on-year for Allianz Technology Trust PLC based on the provided text:
Metric20242025Change
Net Asset Value (NAV) Return+35.6%+24.7%-10.9%
Share Price Total ReturnN/A+25.8%N/A
Benchmark (Dow Jones World Technology Index) ReturnN/A+20.0%N/A
Outperformance vs. BenchmarkN/A+4.7%N/A
Discount to NAV8.6%7.8%-0.8%
Shares Repurchased (Number)26,088,87626,088,8760
Shares Repurchased (Value)£124,993,000£124,993,0000
Ongoing Charges Figure (OCF)0.64%0.62%-0.02%
Profit (Loss) on Ordinary Activities (£'000s)460,066406,981-53,085
Net Assets (£'000s)1,746,8672,028,855+281,988
Net Asset Value per Ordinary Share (pence)458.6p571.7p+113.1p
### Notes: 1. **Net Asset Value (NAV) Return**: The return on NAV decreased from +35.6% in 2024 to +24.7% in 2025. 2. **Share Price Total Return**: Only available for 2025, showing a +25.8% return. 3. **Benchmark Return**: The benchmark return for 2025 was +20.0%. 4. **Outperformance vs. Benchmark**: The trust outperformed the benchmark by +4.7% in 2025. 5. **Discount to NAV**: The discount narrowed from 8.6% in 2024 to 7.8% in 2025. 6. **Shares Repurchased**: The number and value of shares repurchased remained the same in both years. 7. **Ongoing Charges Figure (OCF)**: The OCF decreased slightly from 0.64% to 0.62%. 8. **Profit (Loss) on Ordinary Activities**: Profit decreased by £53,085,000 from 2024 to 2025. 9. **Net Assets**: Net assets increased by £281,988,000 from 2024 to 2025. 10. **Net Asset Value per Ordinary Share**: NAV per share increased by 113.1p from 2024 to 2025. This table provides a clear comparison of key financial metrics between 2024 and 2025 for Allianz Technology Trust PLC.
Significant 0 news titles 0

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TR1 41 news titles 41
USA logo USA

Holding(s) in Company

Baillie Gifford US Growth Trust PLC

TR1 Buy
['Bank of America Corporation', '2.845697', '3.119707']
WTE logo WTE

Holding(s) in Company

Westmount Energy Limited

TR1 Buy
['Bank of America Corporation', '2.845697', '3.119707']
BIRG logo BIRG

Holding(s) in Company

Bank of Ireland Group PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Pzena Investment Management, LLC', 'Less than 3', '3.02']
BIRG logo BIRG

Holding(s) in Company

Bank of Ireland Group PLC

TR1 Buy
['Massachusetts Financial Services Company', '6.93', '7.76']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '1.811638', 'Below Minimum Threshold']
BYIT logo BYIT

Holding(s) in Company

Bytes Technology Ltd

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '0.117695', 'Below Minimum Threshold']
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Updates 20 news titles 20
DSW logo DSW

Trading Update

DSW Capital PLC

**Summary**
DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at DR Solicitors and steady network trading, the outbreak of war with Iran has severely impacted UK M&A activity, leading to aborted or postponed deals in March—a critical month for completions. As a result, the company now expects reduced financial performance for FY26, with Total Income of £6.2m, Adjusted EBITDA of £1.6m, and Adjusted Profit Before Tax of £1.3m.
Cash reserves remain strong at £1.4m as of 28 February 2026, with net debt at £0.5m, following loan repayments and dividend payments. CEO Shru Morris emphasized the company’s strategic focus on diversification, highlighted by the successful acquisition and growth of DR Solicitors, which has reduced reliance on M&A. The company remains profitable and cash generative, with a strong pipeline of diversification opportunities. A full trading update will be announced in May 2026, in line with its usual timetable.
DSW Capital continues to pursue growth through attracting licensees, consultants, and new business, aiming to scale its agile model via organic growth, geographical expansion, and acquisitions. The company’s vision is to become a leading destination for entrepreneurial professionals, leveraging its licensing model and network synergies.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text. Since the text only provides data for FY26, I’ve structured the table to reflect the available information and left the previous year (FY25) columns empty, as no comparative data is provided.
MetricFY25FY26
Total IncomeN/A£6.2m
Adjusted EBITDAN/A£1.6m
Adjusted Profit Before TaxN/A£1.3m
Cash Reserves (as of 28 February)N/A£1.4m
Net DebtN/A£0.5m
Loan Repayment (OakNorth Bank)N/A£1.0m
Dividend Payments (Oct 2025 & Jan 2026)N/A£0.8m
### Notes: 1. **FY25 Data**: The text does not provide financial or debt data for FY25, so those cells are marked as "N/A". 2. **FY26 Data**: The table includes all available FY26 metrics mentioned in the text. 3. **Formatting**: The table is bordered and padded for readability. You can adjust the `border`, `cellpadding`, and `cellspacing` attributes as needed. Let me know if you'd like further adjustments!
SYS1 logo SYS1

Trading Update

System1 Group PLC

**Summary**
System1 Group PLC (AIMSYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpassing market expectations. Key points include
1. **Strong New Business Performance**Significant new business wins, especially in Q4 FY26, position the company for growth.
2. **Cost Optimisation**A restructuring plan, including organisational changes and cost efficiencies, will enhance operational leverage despite one-off costs in FY26.
3. **FY27 Outlook**Revenue forecasts align with consensus (£38.8 million), but Adjusted EBITDA is expected to materially exceed market expectations, with a margin of at least 15%.
4. **Strategic Progress**Continued success in innovation, U.S. expansion, and partnerships with top global brands drive momentum.
5. **Leadership Confidence**CEO James Gregory and Chairman Rupert Howell expressed confidence in the company’s strategy, team, and ability to deliver double-digit revenue growth and improved margins.
System1 remains focused on scaling its marketing decision-making platform, deepening client relationships, and enhancing shareholder value. Full-year results for FY26 will be announced in July 2026.
The provided text does not contain specific financial or debt data for a year-on-year comparison. However, it does mention guidance and consensus figures for FY26 and FY27. Below is an HTML table summarizing the available financial information based on the text:
MetricFY25 ActualFY26 GuidanceFY27 Consensus
Revenue (£m)37.0~37.038.8
Adjusted Profit before Taxation (£m)N/A2.0 - 2.5N/A
Adjusted EBITDA (£m)N/AN/A4.3
Adjusted EBITDA MarginN/AN/A≥15%
**Notes:** - The table includes available data from the text, such as FY25 revenue, FY26 guidance, and FY27 consensus figures. - Debt information is not provided in the text, so it is not included in the table. - Adjusted EBITDA margin for FY27 is mentioned as "no less than 15%", but specific FY26 figures are not provided. Since the text lacks detailed year-on-year financial and debt data, this table summarizes the available information. If more specific data were available, a more comprehensive comparison could be made.
TENG logo TENG

H1 2026 Trading Update

Ten Lifestyle Group PLC

**SummaryTen Lifestyle Group PLC H1 2026 Trading Update**
Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include
**Financial Growth**Net Revenue increased by 6% year-on-year (YoY) to £33.7m (9% at constant currency), while Adjusted EBITDA rose by 16% YoY to £7.0m (28% at constant currency). Adjusted EBITDA margin improved to 20.7% from 18.9% in H1 2025.
**Membership Growth**Active Members grew by 23% YoY to 436,000, driven by higher engagement with the digital platform.
**Cash Position**Net cash increased to £9.3m, supported by a new £5.0m revolving credit facility with NatWest, replacing higher-cost loan notes.
**Strategic Wins**Launched the Ten Digital Platform with a leading UK bank and secured a digitally enabled concierge contract with a global technology company, expanding into a new customer segment. Additional contracts were won in Europe and AMEA, set to launch in H2 2026.
**Technology Investment**Continued investment in the digital platform to enhance customer experience, efficiency, scalability, and service quality.
**Outlook**The Group remains on track to meet full-year market expectations, with new contracts supporting growth into FY 2027.
CEO Alex Cheatle emphasized the Group’s strengthened market position and commitment to delivering "better than the internet" customer experiences, driving contract wins and operational improvements. Ten Lifestyle Group remains focused on its mission to become the most trusted service platform globally, underpinned by its B Corp certification and sustainable business practices.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricH1 2026H1 2025Change (%)Change at Constant Currency (%)
Net Revenue (£m)33.731.8+6%+9%
Adjusted EBITDA (£m)7.06.0+16%+28%
Adjusted EBITDA Margin (%)20.718.9+1.8pps-
Active Members (k)436354+23%-
Net Cash (£m)9.36.8+37%-
Debt (Loan Notes Repaid) (£m)00.8-100%-
Revolving Credit Facility (£m)5.00New Facility-
### Key Notes: 1. **Net Revenue** and **Adjusted EBITDA** are compared year-on-year, including both reported and constant currency figures. 2. **Adjusted EBITDA Margin** is presented as a percentage point change (pps). 3. **Active Members** and **Net Cash** are compared directly year-on-year. 4. **Debt** includes the repayment of loan notes and the new revolving credit facility secured in H1 2026. 5. The table is structured for clarity, with metrics, values, and changes presented in a clean format.
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Trading Floor
2026-03-16
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2026-03-16 34 picks
84 Broker Upgrade
THR
Thor Mining PLC
Positive
**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025** Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 December 2025. The report highlights the companys strategic focus on portfolio rationalization, exploration advancements, and financial performance. **Key Highlights:** 1. **Portfolio Rationalization and Exploration:** - The company prioritized de-risking its asset portfolio and advancing its HY-Range natural hydrogen and helium project in South Australia. - Field activities at HY-Range confirmed the presence of working hydrogen and helium systems, with seismic planning underway for mid-2026 data acquisition. 2. **Board Changes:** - Andrew Hume assumed the expanded role of Managing Director and CEO, allowing Alastair Clayton to transition to a Non-Executive Chairman role. 3. **Asset Sales and Farm-outs:** - Thor Energy sold its 75% holding in the Molyhil tungsten-molybdenum project to Tivan Limited, generating significant cash inflows and eliminating the need for capital raising. - The company farmed down its US uranium projects to Metals One PLC, retaining a 25% stake free of holding and administration costs. 4. **Financial Performance:** - The company reported a loss before taxation of £1,255,000 for the half-year, with net cash outflows of £473,000 from operating activities. - As of 31 December 2025, Thor Energy had £787,000 in cash and cash equivalents. 5. **Going Concern:** - The report highlights a material uncertainty regarding the companys ability to continue as a going concern, dependent on successful asset sales or capital raising. 6. **Post-Balance Sheet Events:** - Thor Energy received a A$2,250,000 (£1,125,000) cash completion payment for the Molyhil project sale in January 2026. - The company was awarded two Regulated Substance Exploration Licence Applications in South Australia in February 2026. **Financial Summary:** - **Loss before taxation:** £1,255,000 - **Net cash outflows from operating activities:** £473,000 - **Cash and cash equivalents:** £787,000 (as of 31 December 2025) **Conclusion:** Thor Energy PLCs half-year report reflects a strategic focus on portfolio optimization, exploration advancements, and financial management. While the company faces challenges related to its going concern status, recent asset sales and cash inflows provide a measure of financial stability. The companys continued focus on hydrogen, helium, and energy metals exploration positions it for potential growth in these emerging sectors.
**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025**
Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 December 2025. The report highlights the companys strategic focus on portfolio rationalization, exploration advancements, and financial performance.
**Key Highlights**
1. **Portfolio Rationalization and Exploration:**
The company prioritized de-risking its asset portfolio and advancing its HY-Range natural hydrogen and helium project in South Australia.
Field activities at HY-Range confirmed the presence of working hydrogen and helium systems, with seismic planning underway for mid-2026 data acquisition.
2. **Board Changes**
Andrew Hume assumed the expanded role of Managing Director and CEO, allowing Alastair Clayton to transition to a Non-Executive Chairman role.
3. **Asset Sales and Farm-outs**
Thor Energy sold its 75% holding in the Molyhil tungsten-molybdenum project to Tivan Limited, generating significant cash inflows and eliminating the need for capital raising.
The company farmed down its US uranium projects to Metals One PLC, retaining a 25% stake free of holding and administration costs.
4. **Financial Performance**
The company reported a loss before taxation of £1,255,000 for the half-year, with net cash outflows of £473,000 from operating activities.
As of 31 December 2025Thor Energy had £787000 in cash and cash equivalents.
5. **Going Concern**
The report highlights a material uncertainty regarding the companys ability to continue as a going concern, dependent on successful asset sales or capital raising.
6. **Post-Balance Sheet Events**
Thor Energy received a A$2,250,000 (£1,125,000) cash completion payment for the Molyhil project sale in January 2026.
The company was awarded two Regulated Substance Exploration Licence Applications in South Australia in February 2026.
**Financial Summary**
**Loss before taxation:** £1255000
**Net cash outflows from operating activities:** £473,000
**Cash and cash equivalents:** £787000 (as of 31 December 2025)
**Conclusion**
Thor Energy PLCs half-year report reflects a strategic focus on portfolio optimization, exploration advancements, and financial management. While the company faces challenges related to its going concern status, recent asset sales and cash inflows provide a measure of financial stability. The companys continued focus on hydrogen, helium, and energy metals exploration positions it for potential growth in these emerging sectors.
Here’s an HTML table comparing the financials and debt year-on-year for Thor Energy PLC based on the provided text:
Metric6 Months Ended 31 Dec 20256 Months Ended 31 Dec 2024Year Ended 30 Jun 2025
Operating Loss (£'000)(553)(437)(5,993)
Loss Before Taxation (£'000)(1,255)(533)(7,441)
Loss for the Period (£'000)(1,255)(533)(7,441)
Total Comprehensive Loss (£'000)(1,250)(1,185)(8,280)
Net Assets (£'000)8,12112,8179,227
Cash and Cash Equivalents (£'000)7871,091686
Total Current Liabilities (£'000)(274)(483)(208)
Total Equity (£'000)8,12112,8179,227
Net Cash from Operating Activities (£'000)(475)(342)(900)
Net Cash from Investing Activities (£'000)608(61)(87)
Net Cash from Financing Activities (£'000)(10)738918
### Key Observations: 1. **Operating Loss**: Increased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but significantly lower than the full year ended 30 Jun 2025. 2. **Loss Before Taxation**: Higher in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but lower than the full year ended 30 Jun 2025. 3. **Net Assets**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but slightly higher than the full year ended 30 Jun 2025. 4. **Cash and Cash Equivalents**: Lower in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but higher than the full year ended 30 Jun 2025. 5. **Total Current Liabilities**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 and the full year ended 30 Jun 2025. 6. **Net Cash Flows**: Negative cash flow from operating activities in all periods, with positive cash flow from investing activities in the 6 months ended 31 Dec 2025 due to asset sales. This table provides a concise comparison of key financial metrics year-on-year, highlighting trends and changes in Thor Energy PLC's financial position.
10:31
80 Positive
GMET
Guardian Metal Resources PLC
Positive
**Summary:** Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL." Key details of the offering include: - **Offering Size:** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM). - **Underwriters Option:** A 45-day option for underwriters to purchase up to an additional 15% of the offering size. - **Use of Proceeds:** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes. - **Underwriters:** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers). The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.
**Summary**
Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL."
Key details of the offering include
**Offering Size** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM).
**Underwriters Option** A 45-day option for underwriters to purchase up to an additional 15% of the offering size.
**Use of Proceeds** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes.
**Underwriters** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers).
The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.
Launch
09:51
80 Positive
FORT
Forterra PLC
Positive
**Summary:** Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-year results, aims to purchase and cancel ordinary shares of 1 pence each, thereby reducing the companys share capital. The buyback will be executed in two tranches: the first tranche of £10 million will begin immediately, managed by Joint Corporate Broker Investec Bank plc, acting as a riskless principal. The second tranche will follow upon completion of the first and is expected to conclude by December 31, 2026, subject to market conditions. The total number of shares to be purchased is capped at 21,280,338, as authorized by shareholders at the 2025 Annual General Meeting. Purchases will occur in open market transactions, adhering to UK regulatory requirements, including the Financial Conduct Authoritys Listing Rules and EU regulations as part of UK domestic law. Transactions will be announced within seven market sessions of their occurrence. Forterras CEO Neil Ash and CFO Ben Guyatt are key contacts for inquiries.
**Summary**
Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-year results, aims to purchase and cancel ordinary shares of 1 pence each, thereby reducing the companys share capital.
The buyback will be executed in two tranches: the first tranche of £10 million will begin immediately, managed by Joint Corporate Broker Investec Bank plc, acting as a riskless principal. The second tranche will follow upon completion of the first and is expected to conclude by December 31, 2026, subject to market conditions. The total number of shares to be purchased is capped at 21,280,338, as authorized by shareholders at the 2025 Annual General Meeting.
Purchases will occur in open market transactions, adhering to UK regulatory requirements, including the Financial Conduct Authoritys Listing Rules and EU regulations as part of UK domestic law. Transactions will be announced within seven market sessions of their occurrence. Forterras CEO Neil Ash and CFO Ben Guyatt are key contacts for inquiries.
Launch
09:33
80 Positive
0MGE
Sydbank
Positive
**Summary:** AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 million, aims to reduce the banks share capital while adhering to EU Safe Harbour regulations (Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/1052). During week 11, AL Sydbank repurchased 72,000 shares at a total gross value of DKK 37,930,500. The transactions were executed by Danske Bank A/S under ISIN DK 0010311471. Since the programmes inception, the bank has accumulated 139,000 shares, totaling DKK 73,959,120. Following these transactions, AL Sydbank holds 140,474 own shares, representing 0.16% of its share capital. Further details are available in the attached document, in compliance with EU market abuse regulations. **Key Points:** - Share buyback programme: DKK 1,100m (up to 4,500,000 shares). - Week 11 transactions: 72,000 shares, DKK 37,930,500. - Total accumulated: 139,000 shares, DKK 73,959,120. - Own shares held: 140,474 (0.16% of share capital). - Executed by Danske Bank A/S under EU Safe Harbour rules.
**Summary**
AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 million, aims to reduce the banks share capital while adhering to EU Safe Harbour regulations (Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/1052).
During week 11, AL Sydbank repurchased 72,000 shares at a total gross value of DKK 37,930,500. The transactions were executed by Danske Bank A/S under ISIN DK 0010311471. Since the programmes inception, the bank has accumulated 139,000 shares, totaling DKK 73,959,120.
Following these transactions, AL Sydbank holds 140,474 own shares, representing 0.16% of its share capital. Further details are available in the attached document, in compliance with EU market abuse regulations.
**Key Points**
Share buyback programme: DKK 1100m (up to 4500000 shares).
Week 11 transactions: 72000 sharesDKK 37930500.
Total accumulated: 139000 sharesDKK 73959120.
Own shares held: 140474 (0.16% of share capital).
Executed by Danske Bank A/S under EU Safe Harbour rules.
BuyBack
09:03
80 Positive
CABP
CAB Payments Holdings Ltd
Positive
**Summary:** CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of the entire issued and to-be-issued share capital of CAB Payments at 95 pence per share in cash. The proposal is subject to several pre-conditions outlined in the StoneX announcement. The Independent Board of CAB Payments (excluding Henry Obi and Nitin Kaul) is currently evaluating the offer with financial and legal advisors. They emphasize the companys improved financial and operational performance in FY25 and its strategic guidance provided to the market on March 5, 2026. The Board remains confident in delivering attractive returns to shareholders, supported by its relationship-led approach to winning and retaining clients. There is no certainty that StoneX will proceed with a formal offer or its terms. CAB Payments shareholders are advised to take no action at this time. The Takeover Panel will set a deadline for StoneX to either announce a firm intention to make an offer or confirm it does not intend to proceed. The announcement includes standard legal disclaimers, regulatory notices, and contact details for CAB Payments and its advisors. It also outlines disclosure requirements under the City Code on Takeovers and Mergers for parties interested in 1% or more of relevant securities.
**Summary**
CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of the entire issued and to-be-issued share capital of CAB Payments at 95 pence per share in cash. The proposal is subject to several pre-conditions outlined in the StoneX announcement.
The Independent Board of CAB Payments (excluding Henry Obi and Nitin Kaul) is currently evaluating the offer with financial and legal advisors. They emphasize the companys improved financial and operational performance in FY25 and its strategic guidance provided to the market on March 5, 2026. The Board remains confident in delivering attractive returns to shareholders, supported by its relationship-led approach to winning and retaining clients.
There is no certainty that StoneX will proceed with a formal offer or its terms. CAB Payments shareholders are advised to take no action at this time. The Takeover Panel will set a deadline for StoneX to either announce a firm intention to make an offer or confirm it does not intend to proceed.
The announcement includes standard legal disclaimers, regulatory notices, and contact details for CAB Payments and its advisors. It also outlines disclosure requirements under the City Code on Takeovers and Mergers for parties interested in 1% or more of relevant securities.
Offers
07:56
80 Positive
HCM
HUTCHMED China Ltd
Positive
**Summary:** HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Scientific Officer, received 19,913 ordinary shares as part of this vesting. The awards were initially granted on March 13, 2024. This notification complies with the UK Market Abuse Regulation and includes details about the transaction, the issuer, and the person discharging managerial responsibilities. HUTCHMED is an innovative biopharmaceutical company focused on developing and commercializing targeted therapies and immunotherapies for cancer and immunological diseases. The company has successfully brought three medicines to market in China, with one also approved globally in regions including the US, Europe, and Japan. Contact information for investor and media enquiries, as well as details about the companys brokers, is provided. The announcement was released via RNS, the news service of the London Stock Exchange, on March 16, 2026.
**Summary**
HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Scientific Officer, received 19,913 ordinary shares as part of this vesting. The awards were initially granted on March 13, 2024. This notification complies with the UK Market Abuse Regulation and includes details about the transaction, the issuer, and the person discharging managerial responsibilities.
HUTCHMED is an innovative biopharmaceutical company focused on developing and commercializing targeted therapies and immunotherapies for cancer and immunological diseases. The company has successfully brought three medicines to market in China, with one also approved globally in regions including the US, Europe, and Japan. Contact information for investor and media enquiries, as well as details about the companys brokers, is provided. The announcement was released via RNS, the news service of the London Stock Exchange, on March 16, 2026.
Awards
07:31
80 Positive
0RPR
Ringkjoebing Landbobank A/S
Positive
**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11** Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to 8 May 2026. The bank aims to buy back shares worth up to DKK 500 million, with a maximum of 600,000 shares, in compliance with EU regulations (Regulation No. 596/2014 and Delegated Regulation No. 2016/1052). **Key Details:** - **Programme Period:** 2 February 2026 – 8 May 2026 - **Total Buyback Amount:** Up to DKK 500 million - **Maximum Shares:** 600,000 - **Compliance:** EU "Safe Harbour" regulations **Transactions in Week 11:** - **Total Shares Bought in Week 11:** 159,300 - **Average Purchase Price (DKK):** 1,624.58 - **Total Purchased in Week 11 (DKK):** 258,795,057 **Cumulative Programme Progress:** - **Total Shares Bought Under Programme:** 1,267,447 (4.99% of share capital) - **Total Amount Spent Under Programme (DKK):** 1,758,779,223 **Historical Context:** - **Previous Programmes (28 Jan 2025 – 30 Jan 2026):** 1,108,147 shares bought for DKK 1,499,984,166 **Ownership Update:** - The bank now owns 1,267,447 shares, representing 4.99% of its share capital, excluding trading portfolio and customer investments. **Detailed Transaction Data:** The announcement includes a detailed breakdown of transactions by date, volume, price, venue, and time, adhering to regulatory reporting requirements. **Conclusion:** Ringkjøbing Landbobank continues its share buyback programme, with Week 11 transactions contributing significantly to the overall goal. The programme remains on track, with detailed transparency in compliance with EU regulations.
**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11**
Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to 8 May 2026. The bank aims to buy back shares worth up to DKK 500 million, with a maximum of 600,000 shares, in compliance with EU regulations (Regulation No. 596/2014 and Delegated Regulation No. 2016/1052).
**Key Details**
**Programme Period** 2 February 2026 – 8 May 2026
**Total Buyback Amount** Up to DKK 500 million
**Maximum Shares:** 600000
**Compliance** EU "Safe Harbour" regulations
**Transactions in Week 11**
**Total Shares Bought in Week 11** 159,300
**Average Purchase Price (DKK):** 1624.58
**Total Purchased in Week 11 (DKK)** 258,795,057
**Cumulative Programme Progress**
**Total Shares Bought Under Programme** 1,267,447 (4.99% of share capital)
**Total Amount Spent Under Programme (DKK):** 1,758,779,223
**Historical Context**
**Previous Programmes (28 Jan 2025 – 30 Jan 2026):** 1,108,147 shares bought for DKK 1,499,984,166
**Ownership Update**
The bank now owns 1,267,447 shares, representing 4.99% of its share capital, excluding trading portfolio and customer investments.
**Detailed Transaction Data**
The announcement includes a detailed breakdown of transactions by date, volume, price, venue, and time, adhering to regulatory reporting requirements.
**Conclusion**
Ringkjøbing Landbobank continues its share buyback programme, with Week 11 transactions contributing significantly to the overall goal. The programme remains on track, with detailed transparency in compliance with EU regulations.
BuyBack
06:56
80 Positive
JNEO
Journeo PLC
Positive
**Summary:** Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (DSB), Denmarks largest state-owned passenger rail operator. This marks the first widescale on-train system contract for Journeos Nordic subsidiary since its acquisition in September 2023. The contract involves supplying and installing modern bodyside LED display panels into DSBs Dosto double-deck rail coaches, replacing outdated technology to enhance passenger experience and accessibility. Journeo demonstrated its engineering expertise by integrating the solution with existing onboard systems, avoiding the need for a complete technology refit. Installation is expected to begin in the second half of 2026 and be substantially completed by year-end. Russ Singleton, Journeos CEO, highlighted the strategic importance of this contract in expanding the companys presence in new territories and emphasized the collaborative effort across the Group to deliver the solution. Journeo plc operates through six subsidiaries, focusing on intelligent transport systems, passenger information systems, and critical infrastructure protection, with significant investment in research and development to drive innovation.
**Summary**
Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (DSB), Denmarks largest state-owned passenger rail operator. This marks the first widescale on-train system contract for Journeos Nordic subsidiary since its acquisition in September 2023. The contract involves supplying and installing modern bodyside LED display panels into DSBs Dosto double-deck rail coaches, replacing outdated technology to enhance passenger experience and accessibility. Journeo demonstrated its engineering expertise by integrating the solution with existing onboard systems, avoiding the need for a complete technology refit. Installation is expected to begin in the second half of 2026 and be substantially completed by year-end. Russ Singleton, Journeos CEO, highlighted the strategic importance of this contract in expanding the companys presence in new territories and emphasized the collaborative effort across the Group to deliver the solution. Journeo plc operates through six subsidiaries, focusing on intelligent transport systems, passenger information systems, and critical infrastructure protection, with significant investment in research and development to drive innovation.
NewContract
06:01
80 Positive
SDG
Sanderson Design Group PLC
Positive
**Summary:** Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned American interior designer Michael S. Smith features 55 new designs hand-selected from Zoffanys archives, combining vintage aesthetics with technical innovation. The fabrics are made from performance-led materials suitable for both indoor and outdoor use, addressing a market gap. The collection, launching in May 2026, reinforces Zoffanys luxury brand positioning and supports global growth, particularly in North America. CEO Lisa Montague and Michael S. Smith highlighted the collections innovative design and versatility, emphasizing its potential to set a new standard for indoor-outdoor living. The fabrics will be distributed globally through Sanderson Design Groups network.
**Summary**
Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned American interior designer Michael S. Smith features 55 new designs hand-selected from Zoffanys archives, combining vintage aesthetics with technical innovation. The fabrics are made from performance-led materials suitable for both indoor and outdoor use, addressing a market gap. The collection, launching in May 2026, reinforces Zoffanys luxury brand positioning and supports global growth, particularly in North America. CEO Lisa Montague and Michael S. Smith highlighted the collections innovative design and versatility, emphasizing its potential to set a new standard for indoor-outdoor living. The fabrics will be distributed globally through Sanderson Design Groups network.
Launch
06:01
80 Positive
AZN
AstraZeneca PLC
Positive
**Summary:** AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers. The approval is based on positive results from the MATTERHORN Phase III trial, which demonstrated significant improvements in event-free survival (EFS) and overall survival (OS) compared to chemotherapy alone. The regimen includes Imfinzi in combination with FLOT chemotherapy before and after surgery, followed by Imfinzi monotherapy. Key findings from the MATTERHORN trial include: - A 29% reduction in the risk of disease progression, recurrence, or death with the Imfinzi-based regimen. - An estimated 69% of patients were alive at three years with Imfinzi, compared to 62% in the comparator arm. - The safety profile was consistent with known profiles of the individual medicines. This approval marks AstraZenecas third perioperative approval in Europe for an Imfinzi-based regimen, highlighting the companys commitment to improving outcomes in early-stage cancers where cure is possible. Gastric cancer, the fifth leading cause of cancer death globally, affects nearly one million people annually, with approximately 15,500 drug-treated patients in the EU in 2024. The approval is expected to set a new standard of care for these patients. Imfinzi is also approved in the US and other countries for this indication, with regulatory applications under review in Japan and several other countries. AstraZeneca continues to expand its immuno-oncology portfolio, focusing on innovative therapies to transform cancer care across various tumor types and stages.
**Summary**
AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers. The approval is based on positive results from the MATTERHORN Phase III trial, which demonstrated significant improvements in event-free survival (EFS) and overall survival (OS) compared to chemotherapy alone. The regimen includes Imfinzi in combination with FLOT chemotherapy before and after surgery, followed by Imfinzi monotherapy.
Key findings from the MATTERHORN trial include
A 29% reduction in the risk of disease progression, recurrence, or death with the Imfinzi-based regimen.
An estimated 69% of patients were alive at three years with Imfinzi, compared to 62% in the comparator arm.
The safety profile was consistent with known profiles of the individual medicines.
This approval marks AstraZenecas third perioperative approval in Europe for an Imfinzi-based regimen, highlighting the companys commitment to improving outcomes in early-stage cancers where cure is possible. Gastric cancer, the fifth leading cause of cancer death globally, affects nearly one million people annually, with approximately 15,500 drug-treated patients in the EU in 2024. The approval is expected to set a new standard of care for these patients.
Imfinzi is also approved in the US and other countries for this indication, with regulatory applications under review in Japan and several other countries. AstraZeneca continues to expand its immuno-oncology portfolio, focusing on innovative therapies to transform cancer care across various tumor types and stages.
Approvals
06:01
80 Positive
TRP
Tower Resources plc
Positive
**Summary:** Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with Prime Global Energies Limited in Cameroon (Thali license) and Namibia (PEL96), with positive progress reported in meetings with government authorities. In Cameroon, the Societe Nationale de Hydrocarbures (SNH) recommended extending the exploration period and approving the farm-out, pending formal documentation. In Namibia, the Upstream Petroleum Unit is expediting approval, with due diligence on Prime completed. The subscription involves issuing 6,315,785,262 ordinary shares at 0.02375p each, primarily to repay a £1 million convertible bridge loan due March 25, 2026. The remaining proceeds will fund working capital. The company also issued warrants to the broker, Axis Capital Markets Limited, as part of the arrangement. Tower Resources remains focused on drilling the NJOM-3 well in Cameroon in Q3 2026, subject to rig availability, and is pursuing additional opportunities in Cameroon and Namibia. The company emphasized caution regarding precise approval timelines but expressed confidence in progress. The announcement includes regulatory disclaimers, forward-looking statement notices, and contact details for further information.
**Summary**
Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with Prime Global Energies Limited in Cameroon (Thali license) and Namibia (PEL96), with positive progress reported in meetings with government authorities. In Cameroon, the Societe Nationale de Hydrocarbures (SNH) recommended extending the exploration period and approving the farm-out, pending formal documentation. In Namibia, the Upstream Petroleum Unit is expediting approval, with due diligence on Prime completed.
The subscription involves issuing 6,315,785,262 ordinary shares at 0.02375p each, primarily to repay a £1 million convertible bridge loan due March 25, 2026. The remaining proceeds will fund working capital. The company also issued warrants to the broker, Axis Capital Markets Limited, as part of the arrangement.
Tower Resources remains focused on drilling the NJOM-3 well in Cameroon in Q3 2026, subject to rig availability, and is pursuing additional opportunities in Cameroon and Namibia. The company emphasized caution regarding precise approval timelines but expressed confidence in progress. The announcement includes regulatory disclaimers, forward-looking statement notices, and contact details for further information.
Approvals
06:01
98 Exceptional
DNM
Dianomi PLC
Positive
**Summary:** Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered financial answers engine designed for financial publisher websites, enabling them to retain audiences and monetize AI-driven conversations directly on their platforms. This solution addresses the challenge of publishers losing audience engagement to external AI platforms like ChatGPT and Claude. The AI engine leverages publishers journalism and archives to create conversational AI experiences, generating answers from trusted editorial content within the publishers environment. This approach not only retains readers but also integrates native advertising into the conversational experience, creating new revenue streams for publishers and financial brands. The partnership combines Dappiers conversational AI technology with Dianomis extensive distribution network, reaching 500 million devices monthly across 250+ premium publishers. This has the potential to establish a sector-wide distributed AI answers network. Both CEOs, Rupert Hodson of Dianomi and Dan Goikhman of Dappier, emphasized the partnerships ability to transform financial intent into scalable advertising opportunities while providing a publisher-owned alternative to horizontal AI platforms. Early responses have been positive, with ongoing discussions for pilot projects with major publishers and advertisers. This initiative positions Dianomi to deepen its publisher ecosystem relationships and expand its advertising opportunities.
**Summary**
Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered financial answers engine designed for financial publisher websites, enabling them to retain audiences and monetize AI-driven conversations directly on their platforms. This solution addresses the challenge of publishers losing audience engagement to external AI platforms like ChatGPT and Claude.
The AI engine leverages publishers journalism and archives to create conversational AI experiences, generating answers from trusted editorial content within the publishers environment. This approach not only retains readers but also integrates native advertising into the conversational experience, creating new revenue streams for publishers and financial brands.
The partnership combines Dappiers conversational AI technology with Dianomis extensive distribution network, reaching 500 million devices monthly across 250+ premium publishers. This has the potential to establish a sector-wide distributed AI answers network. Both CEOs, Rupert Hodson of Dianomi and Dan Goikhman of Dappier, emphasized the partnerships ability to transform financial intent into scalable advertising opportunities while providing a publisher-owned alternative to horizontal AI platforms.
Early responses have been positive, with ongoing discussions for pilot projects with major publishers and advertisers. This initiative positions Dianomi to deepen its publisher ecosystem relationships and expand its advertising opportunities.
AI
06:01
80 Positive
EWI
Edinburgh Worldwide Investment Trust plc
Positive
**Summary:** Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide shareholders with a choice to realize value from their investment before a potential change of control by Saba, a minority shareholder with a 30% stake. Chair Jonathan Simpson-Dent highlights that Saba intends to replace the board, appoint a new manager, and shift the investment mandate away from long-term global technological innovation. The board argues that the regulatory framework does not adequately protect shareholders from Sabas control agenda. The tender offer allows shareholders to exit at a fair value while retaining exposure to SpaceX, EWITs largest investment. Shareholders must vote by April 8, 2026, and separately elect to tender shares by April 16, 2026. The board strongly recommends voting in favor of the tender offer to protect investments and end uncertainty surrounding Sabas actions. The announcement also includes important legal and regulatory information for shareholders, particularly those in the United States.
**Summary**
Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide shareholders with a choice to realize value from their investment before a potential change of control by Saba, a minority shareholder with a 30% stake.
Chair Jonathan Simpson-Dent highlights that Saba intends to replace the board, appoint a new manager, and shift the investment mandate away from long-term global technological innovation. The board argues that the regulatory framework does not adequately protect shareholders from Sabas control agenda. The tender offer allows shareholders to exit at a fair value while retaining exposure to SpaceX, EWITs largest investment.
Shareholders must vote by April 8, 2026, and separately elect to tender shares by April 16, 2026. The board strongly recommends voting in favor of the tender offer to protect investments and end uncertainty surrounding Sabas actions. The announcement also includes important legal and regulatory information for shareholders, particularly those in the United States.
Offers
06:01
80 Positive
RST
Restore plc
Positive
**Summary:** Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year results on 12 March 2026, will involve the purchase of ordinary shares at 5 pence each. The programme is divided into two tranches of £10 million each, executed by Investec Bank plc and Canaccord Genuity Limited, respectively. Purchased shares will be cancelled, reducing the companys share capital. The buyback is authorized under the companys 2025 annual general meeting (AGM) and will comply with UK Financial Conduct Authority regulations. The maximum number of shares to be purchased is 13,692,406, subject to market conditions, share price, and trading volumes. The first tranche begins immediately, with the second tranche expected to start after the first is completed and conclude no later than 31 March 2027. For further inquiries, contact details for Restore plc, its brokers, and PR consultants are provided. The announcement was released via RNS, the news service of the London Stock Exchange, on 16 March 2026.
**Summary**
Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year results on 12 March 2026, will involve the purchase of ordinary shares at 5 pence each. The programme is divided into two tranches of £10 million each, executed by Investec Bank plc and Canaccord Genuity Limited, respectively. Purchased shares will be cancelled, reducing the companys share capital.
The buyback is authorized under the companys 2025 annual general meeting (AGM) and will comply with UK Financial Conduct Authority regulations. The maximum number of shares to be purchased is 13,692,406, subject to market conditions, share price, and trading volumes. The first tranche begins immediately, with the second tranche expected to start after the first is completed and conclude no later than 31 March 2027.
For further inquiries, contact details for Restore plc, its brokers, and PR consultants are provided. The announcement was released via RNS, the news service of the London Stock Exchange, on 16 March 2026.
BuyBack
06:01
84 Broker Upgrade
RVRG
River Global Plc
Positive
**Summary of River Global PLCs 2025 Full Year Report:** **Financial Performance:** - **Revenue Decline:** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market conditions. - **Losses:** The overall loss before taxation for the A share business interest was £13.4 million, including an £8.1 million impairment of goodwill due to the post-balance sheet disposal of River Global Holdings Limited and its subsidiaries. Excluding the goodwill write-down, the loss before taxation was £5.2 million. - **EBITDA Loss:** Losses on an EBITDA basis for the A share business interest were -£2.9 million, compared to -£5.7 million in 2024, adjusted for discontinued operations and exceptionals. - **Cost Reductions:** Achieved cost reductions of nearly £5 million over the year. **Strategic Developments:** - **Sale of Operating Business:** Announced the sale of River Global Holdings Limited and its subsidiaries to Liontrust Asset Management PLC, considered a post-balance sheet event. - **Operational Consolidation:** Successfully consolidated all funds into a single umbrella structure, delivering a single operating platform and harmonizing branding. - **New Mandates:** Secured a substantial new UK small cap mandate for Phoenix Group and launched funds for Blevins Franks, boosting assets under management and industry profile. - **Performance:** 69% of funds outperformed peers over one year, 88% over three years, and 67% over five years. **B Shares (Parmenion):** - **Robust Performance:** Parmenions assets increased by £2 billion to £13.1 billion, with revenue up to £50.2 million and profit to £17.5 million in 2024. EBITDA rose to £20.1 million. - **Continued Growth:** As of December 31, 2025, assets under management or administration increased to over £16 billion. **Challenges and Outlook:** - **Market Headwinds:** Continued outflows and challenging market conditions, including geopolitical tensions and economic uncertainties, impacted performance. - **Profitability Goal:** Despite challenges, the company is focused on achieving profitability, with cost savings and operational efficiencies in place. - **Future Opportunities:** The company sees potential in active asset management as market conditions evolve, with an uptick in performance and interest in some funds. **Corporate Governance and Strategy:** - **Share Reorganization:** Completed a share reorganization in March 2025, aligning shareholders interests with the Groups main business interests. - **Acquisition:** Acquired Devon Equity Management Limited in October 2025, integrating its team and assets into River Global. - **ESG Commitment:** Committed to responsible business practices, including environmental, social, and governance (ESG) initiatives, and adherence to high standards of integrity and transparency. **Key Financials (Consolidated):** - **Total Assets:** £48.886 million (2024: £60.523 million). - **Total Liabilities:** £6.439 million (2024: £7.404 million). - **Total Equity:** £42.447 million (2024: £53.119 million). - **Loss for the Year:** £11.238 million (2024: £2.452 million). **Conclusion:** River Global PLC faced significant challenges in 2025 due to adverse market conditions, resulting in revenue decline and losses. However, strategic initiatives such as cost reductions, operational consolidation, and new mandates have positioned the company for potential recovery. The sale of the operating business and acquisition of Devon Equity Management Limited mark significant strategic shifts. Despite ongoing headwinds, the company remains focused on achieving profitability and enhancing its market position through active asset management and ESG commitments.
**Summary of River Global PLCs 2025 Full Year Report:**
**Financial Performance**
**Revenue Decline** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market conditions.
**Losses** The overall loss before taxation for the A share business interest was £13.4 million, including an £8.1 million impairment of goodwill due to the post-balance sheet disposal of River Global Holdings Limited and its subsidiaries. Excluding the goodwill write-down, the loss before taxation was £5.2 million.
**EBITDA Loss** Losses on an EBITDA basis for the A share business interest were -£2.9 million, compared to -£5.7 million in 2024, adjusted for discontinued operations and exceptionals.
**Cost Reductions** Achieved cost reductions of nearly £5 million over the year.
**Strategic Developments**
**Sale of Operating Business** Announced the sale of River Global Holdings Limited and its subsidiaries to Liontrust Asset Management PLC, considered a post-balance sheet event.
**Operational Consolidation** Successfully consolidated all funds into a single umbrella structure, delivering a single operating platform and harmonizing branding.
**New Mandates** Secured a substantial new UK small cap mandate for Phoenix Group and launched funds for Blevins Franks, boosting assets under management and industry profile.
**Performance** 69% of funds outperformed peers over one year, 88% over three years, and 67% over five years.
**B Shares (Parmenion)**
**Robust Performance** Parmenions assets increased by £2 billion to £13.1 billion, with revenue up to £50.2 million and profit to £17.5 million in 2024. EBITDA rose to £20.1 million.
**Continued Growth** As of December 31, 2025, assets under management or administration increased to over £16 billion.
**Challenges and Outlook**
**Market Headwinds** Continued outflows and challenging market conditions, including geopolitical tensions and economic uncertainties, impacted performance.
**Profitability Goal** Despite challenges, the company is focused on achieving profitability, with cost savings and operational efficiencies in place.
**Future Opportunities** The company sees potential in active asset management as market conditions evolve, with an uptick in performance and interest in some funds.
**Corporate Governance and Strategy**
**Share Reorganization** Completed a share reorganization in March 2025, aligning shareholders interests with the Groups main business interests.
**Acquisition** Acquired Devon Equity Management Limited in October 2025, integrating its team and assets into River Global.
**ESG Commitment** Committed to responsible business practices, including environmental, social, and governance (ESG) initiatives, and adherence to high standards of integrity and transparency.
**Key Financials (Consolidated)**
**Total Assets** £48.886 million (2024: £60.523 million).
**Total Liabilities** £6.439 million (2024: £7.404 million).
**Total Equity** £42.447 million (2024: £53.119 million).
**Loss for the Year** £11.238 million (2024: £2.452 million).
**Conclusion**
River Global PLC faced significant challenges in 2025 due to adverse market conditions, resulting in revenue decline and losses. However, strategic initiatives such as cost reductions, operational consolidation, and new mandates have positioned the company for potential recovery. The sale of the operating business and acquisition of Devon Equity Management Limited mark significant strategic shifts. Despite ongoing headwinds, the company remains focused on achieving profitability and enhancing its market position through active asset management and ESG commitments.
Here is a comparison of River Global PLC's financials and debt year on year, presented as an HTML table: tr> td>-49.8%
Metric20242025Change
Revenue (£m)14.412.2-15.3%
EBITDA (£m)-5.7-2.949.1% improvement
Loss before taxation (£m)-4.9-13.4175.5% increase in loss
Goodwill impairment (£m)0-8.1N/A
Assets under management (£m)2,7792,351-15.4%
Total net assets (£m)26.113.1
Cash and cash equivalents (£m)8.76.1-29.9%
Total liabilities (£m)7.46.4-13.5%
**Key Observations:** * **Revenue Decline:** Revenue decreased by 15.3% from £14.4m in 2024 to £12.2m in 2025, likely due to industry headwinds and outflows. * **EBITDA Improvement:** Despite revenue decline, EBITDA loss improved by 49.1%, indicating successful cost-cutting measures. * **Increased Loss:** The loss before taxation significantly increased due to a substantial goodwill impairment of £8.1m in 2025. * **Asset and Liability Changes:** Assets under management, total net assets, and cash equivalents all decreased, while total liabilities also decreased but at a slower rate. **Note:** This table focuses on key financial metrics. For a comprehensive understanding, refer to the full financial statements and accompanying notes.
06:01
80 Positive
LSAA
Life Settlement Assets PLC
Positive
**Summary:** Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary Share. The program aims to repurchase shares when it is in shareholders best interests and accretive to NAV. The company has allocated funds for the program, which will be managed by its broker, Cavendish Capital Markets Limited, within pre-set parameters. The maximum number of shares to be acquired is capped at 14.99% of the issued share capital, under authority granted by shareholders in June 2025. Repurchased shares will be cancelled, and the program’s continuation beyond June 2026 requires fresh shareholder approval. LSAA will also explore other capital return options, such as special dividends, while monitoring liquidity and policy advance costs. The company specializes in investing in life settlement policies, primarily in the U.S., to generate long-term returns for investors.
**Summary**
Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary Share. The program aims to repurchase shares when it is in shareholders best interests and accretive to NAV. The company has allocated funds for the program, which will be managed by its broker, Cavendish Capital Markets Limited, within pre-set parameters. The maximum number of shares to be acquired is capped at 14.99% of the issued share capital, under authority granted by shareholders in June 2025. Repurchased shares will be cancelled, and the program’s continuation beyond June 2026 requires fresh shareholder approval. LSAA will also explore other capital return options, such as special dividends, while monitoring liquidity and policy advance costs. The company specializes in investing in life settlement policies, primarily in the U.S., to generate long-term returns for investors.
BuyBack
06:01
93 Strong Beat
KEN
Kendrick Resources PLC
Positive
**Summary:** Kendrick Resources Plc (LSE: KEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceeded expectations, highlighting pervasive high-grade Total Rare Earth Oxide (TREO) and Light Rare Earth Oxide (LREO) mineralization. Key highlights include: 1. **High-Grade Intercepts:** Drill hole TWDD001 showed notable intercepts, including 8.14 wt% TREO over 21.16 meters, with grades never dropping below 6.0 wt% and peaking at 10.7 wt% TREO. 2. **Depth Potential:** The hole ended in mineralization at 6.09 wt% TREO, suggesting continued mineralization at depth. 3. **Low Radioactive Elements:** Thorium and Uranium grades were minimal (0.019% and 0.000196%, respectively), indicating no penalties for REE products. 4. **Benchmarking:** Teufelskuppe ranks among the top global REE projects, including operating mines, with high grades of critical elements like Praseodymium and Neodymium (Nd/Pr combined 1.00 wt%). 5. **Resource Potential:** Historic surface sampling and current drilling suggest significant resource potential across the TK carbonatite landscape and the neighboring Keishohe complex. 6. **Next Steps:** Kendrick plans to deploy a second rig for reconnaissance drilling and accelerate resource definition, aiming for a Preliminary Economic Assessment (PEA). Chairman Colin Bird expressed satisfaction with the results, emphasizing the project’s potential to be among the top global REE producers. The company remains focused on expanding drilling and metallurgical work to further validate the project’s resource potential.
**Summary**
Kendrick Resources Plc (LSEKEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceeded expectations, highlighting pervasive high-grade Total Rare Earth Oxide (TREO) and Light Rare Earth Oxide (LREO) mineralization. Key highlights include
1. **High-Grade Intercepts** Drill hole TWDD001 showed notable intercepts, including 8.14 wt% TREO over 21.16 meters, with grades never dropping below 6.0 wt% and peaking at 10.7 wt% TREO.
2. **Depth Potential** The hole ended in mineralization at 6.09 wt% TREO, suggesting continued mineralization at depth.
3. **Low Radioactive Elements** Thorium and Uranium grades were minimal (0.019% and 0.000196%, respectively), indicating no penalties for REE products.
4. **Benchmarking** Teufelskuppe ranks among the top global REE projects, including operating mines, with high grades of critical elements like Praseodymium and Neodymium (Nd/Pr combined 1.00 wt%).
5. **Resource Potential** Historic surface sampling and current drilling suggest significant resource potential across the TK carbonatite landscape and the neighboring Keishohe complex.
6. **Next Steps** Kendrick plans to deploy a second rig for reconnaissance drilling and accelerate resource definition, aiming for a Preliminary Economic Assessment (PEA).
Chairman Colin Bird expressed satisfaction with the results, emphasizing the project’s potential to be among the top global REE producers. The company remains focused on expanding drilling and metallurgical work to further validate the project’s resource potential.
The provided text does not contain specific financial or debt data for Kendrick Resources Plc that can be compared year-on-year. Instead, it focuses on drilling results and project benchmarks. However, I can create a placeholder HTML table structure that you could use if such financial data were available. Below is an example of how you might structure an HTML table to compare financials and debt year-on-year: < lang="en">Kendrick Resources Plc Financials and Debt Comparison

Kendrick Resources Plc Financials and Debt Comparison

Metric202420252026Change 2025-2026
Revenue (€)10,000,00012,000,00015,000,000+25%
Net Income (€)1,000,0001,500,0002,000,000+33.33%
Total Debt (€)5,000,0004,500,0004,000,000-11.11%
Debt-to-Equity Ratio0.50.450.4-11.11%
### Explanation: - **Table Structure**: The table is structured with columns for the metric being compared (e.g., Revenue, Net Income, Total Debt, Debt-to-Equity Ratio) and rows for the years (2024, 2025, 2026). - **Placeholder Data**: Since the provided text does not contain actual financial data, placeholder values are used. In a real-world scenario, you would replace these with actual figures. - **Change Column**: The last column calculates the percentage change between 2025 and 2026 for each metric. If you have specific financial data from the text or another source, you can update the table accordingly.
06:01
88 Trading Edge
DSW
DSW Capital PLC
Positive
**Summary:** DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at DR Solicitors and steady network trading, the outbreak of war with Iran has severely impacted UK M&A activity, leading to aborted or postponed deals in March—a critical month for completions. As a result, the company now expects reduced financial performance for FY26, with Total Income of £6.2m, Adjusted EBITDA of £1.6m, and Adjusted Profit Before Tax of £1.3m. Cash reserves remain strong at £1.4m as of 28 February 2026, with net debt at £0.5m, following loan repayments and dividend payments. CEO Shru Morris emphasized the company’s strategic focus on diversification, highlighted by the successful acquisition and growth of DR Solicitors, which has reduced reliance on M&A. The company remains profitable and cash generative, with a strong pipeline of diversification opportunities. A full trading update will be announced in May 2026, in line with its usual timetable. DSW Capital continues to pursue growth through attracting licensees, consultants, and new business, aiming to scale its agile model via organic growth, geographical expansion, and acquisitions. The company’s vision is to become a leading destination for entrepreneurial professionals, leveraging its licensing model and network synergies.
**Summary**
DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at DR Solicitors and steady network trading, the outbreak of war with Iran has severely impacted UK M&A activity, leading to aborted or postponed deals in March—a critical month for completions. As a result, the company now expects reduced financial performance for FY26, with Total Income of £6.2m, Adjusted EBITDA of £1.6m, and Adjusted Profit Before Tax of £1.3m.
Cash reserves remain strong at £1.4m as of 28 February 2026, with net debt at £0.5m, following loan repayments and dividend payments. CEO Shru Morris emphasized the company’s strategic focus on diversification, highlighted by the successful acquisition and growth of DR Solicitors, which has reduced reliance on M&A. The company remains profitable and cash generative, with a strong pipeline of diversification opportunities. A full trading update will be announced in May 2026, in line with its usual timetable.
DSW Capital continues to pursue growth through attracting licensees, consultants, and new business, aiming to scale its agile model via organic growth, geographical expansion, and acquisitions. The company’s vision is to become a leading destination for entrepreneurial professionals, leveraging its licensing model and network synergies.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text. Since the text only provides data for FY26, I’ve structured the table to reflect the available information and left the previous year (FY25) columns empty, as no comparative data is provided.
MetricFY25FY26
Total IncomeN/A£6.2m
Adjusted EBITDAN/A£1.6m
Adjusted Profit Before TaxN/A£1.3m
Cash Reserves (as of 28 February)N/A£1.4m
Net DebtN/A£0.5m
Loan Repayment (OakNorth Bank)N/A£1.0m
Dividend Payments (Oct 2025 & Jan 2026)N/A£0.8m
### Notes: 1. **FY25 Data**: The text does not provide financial or debt data for FY25, so those cells are marked as "N/A". 2. **FY26 Data**: The table includes all available FY26 metrics mentioned in the text. 3. **Formatting**: The table is bordered and padded for readability. You can adjust the `border`, `cellpadding`, and `cellspacing` attributes as needed. Let me know if you'd like further adjustments!
06:01
88 Trading Edge
SYS1
System1 Group PLC
Positive
**Summary:** System1 Group PLC (AIM: SYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpassing market expectations. Key points include: 1. **Strong New Business Performance**: Significant new business wins, especially in Q4 FY26, position the company for growth. 2. **Cost Optimisation**: A restructuring plan, including organisational changes and cost efficiencies, will enhance operational leverage despite one-off costs in FY26. 3. **FY27 Outlook**: Revenue forecasts align with consensus (£38.8 million), but Adjusted EBITDA is expected to materially exceed market expectations, with a margin of at least 15%. 4. **Strategic Progress**: Continued success in innovation, U.S. expansion, and partnerships with top global brands drive momentum. 5. **Leadership Confidence**: CEO James Gregory and Chairman Rupert Howell expressed confidence in the company’s strategy, team, and ability to deliver double-digit revenue growth and improved margins. System1 remains focused on scaling its marketing decision-making platform, deepening client relationships, and enhancing shareholder value. Full-year results for FY26 will be announced in July 2026.
**Summary**
System1 Group PLC (AIMSYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpassing market expectations. Key points include
1. **Strong New Business Performance**Significant new business wins, especially in Q4 FY26, position the company for growth.
2. **Cost Optimisation**A restructuring plan, including organisational changes and cost efficiencies, will enhance operational leverage despite one-off costs in FY26.
3. **FY27 Outlook**Revenue forecasts align with consensus (£38.8 million), but Adjusted EBITDA is expected to materially exceed market expectations, with a margin of at least 15%.
4. **Strategic Progress**Continued success in innovation, U.S. expansion, and partnerships with top global brands drive momentum.
5. **Leadership Confidence**CEO James Gregory and Chairman Rupert Howell expressed confidence in the company’s strategy, team, and ability to deliver double-digit revenue growth and improved margins.
System1 remains focused on scaling its marketing decision-making platform, deepening client relationships, and enhancing shareholder value. Full-year results for FY26 will be announced in July 2026.
The provided text does not contain specific financial or debt data for a year-on-year comparison. However, it does mention guidance and consensus figures for FY26 and FY27. Below is an HTML table summarizing the available financial information based on the text:
MetricFY25 ActualFY26 GuidanceFY27 Consensus
Revenue (£m)37.0~37.038.8
Adjusted Profit before Taxation (£m)N/A2.0 - 2.5N/A
Adjusted EBITDA (£m)N/AN/A4.3
Adjusted EBITDA MarginN/AN/A≥15%
**Notes:** - The table includes available data from the text, such as FY25 revenue, FY26 guidance, and FY27 consensus figures. - Debt information is not provided in the text, so it is not included in the table. - Adjusted EBITDA margin for FY27 is mentioned as "no less than 15%", but specific FY26 figures are not provided. Since the text lacks detailed year-on-year financial and debt data, this table summarizes the available information. If more specific data were available, a more comprehensive comparison could be made.
06:01
93 Strong Beat
SRC
Sigmaroc PLC
Positive
**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025** **Financial Performance Highlights:** - **Revenue Growth:** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower volumes. - **EBITDA Improvement:** Underlying EBITDA rose by 16.7% to £262.2 million, with a margin of 25.3%, reflecting strong cost discipline and synergy delivery. - **Profit Before Tax:** Profit before tax surged by 115.9% to £98.9 million, supported by operational efficiency and cost management. - **Earnings Per Share (EPS):** Underlying EPS increased by 25.9% to 10.51p, ahead of previous guidance. - **Free Cash Flow (FCF):** FCF grew by 18.4% to £133.8 million, with a conversion rate of 51%. - **Net Debt Reduction:** Net debt decreased by 7.3% to £472.4 million, with covenant leverage improving to 1.8x. **Operational and Strategic Achievements:** - **Synergy Program:** Achieved minimum target of €40 million in recurring synergies two years ahead of schedule, lifting EBITDA and offsetting volume-related losses. - **Divestments:** Completed the sale of three non-core businesses for £18 million, optimizing the portfolio. - **Refinancing:** Secured a new financing facility of up to €825 million on investment-grade terms, enhancing financial flexibility. - **Ventures:** SkreenHouse, the venture arm, reviewed over 250 projects and made 8 investments in innovative construction technologies. - **Sustainability:** Maintained CDP Climate Change rating of B and improved Water Security rating to B. Progressed decarbonization initiatives, including kiln conversions and increased use of renewable energy. **Market and Outlook:** - **Market Conditions:** Core volumes were down 3% due to softer construction and steel markets, but there are encouraging signs of recovery in several regions. - **Structural Trends:** Expected benefits from the German infrastructure stimulus, improving steel industry conditions, and increased defense spending. - **Residential Market:** Housing remains at cyclical lows, but a significant shortfall in European housing stock suggests potential future demand. - **Growth Opportunities:** Data center, AI, and green economy investments provide additional opportunities for the construction materials segment. **Governance and Investor Engagement:** - **Capital Markets Day:** Successfully held the inaugural event, outlining the 5-year plan and engaging with over 70% of shareholders. - **Board Stability:** Maintained a stable and engaged board, with full attendance and active participation in governance and investor activities. - **Strategic Advisory Board:** Established to focus on long-term strategic direction. **Future Priorities:** - **Safety and Operations:** Improve safety and operating standards across all sites. - **Margin Protection:** Strengthen margins through cost and capital discipline. - **Growth Conversion:** Convert improving infrastructure and industrial demand into profitable growth. - **Selective Growth:** Pursue organic and acquisitive growth where long-term returns are compelling. **Conclusion:** SigmaRoc PLC delivered a strong financial performance in 2025, marked by significant improvements in profitability, cash flow, and operational efficiency. The company is well-positioned to capitalize on emerging structural trends in Europe, supported by a diversified portfolio, strategic divestments, and a focus on sustainability. The board remains optimistic about the future, with clear priorities to drive further growth and value creation.
**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025**
**Financial Performance Highlights**
**Revenue Growth** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower volumes.
**EBITDA Improvement** Underlying EBITDA rose by 16.7% to £262.2 million, with a margin of 25.3%, reflecting strong cost discipline and synergy delivery.
**Profit Before Tax** Profit before tax surged by 115.9% to £98.9 million, supported by operational efficiency and cost management.
**Earnings Per Share (EPS)** Underlying EPS increased by 25.9% to 10.51p, ahead of previous guidance.
**Free Cash Flow (FCF)** FCF grew by 18.4% to £133.8 million, with a conversion rate of 51%.
**Net Debt Reduction** Net debt decreased by 7.3% to £472.4 million, with covenant leverage improving to 1.8x.
**Operational and Strategic Achievements**
**Synergy Program** Achieved minimum target of €40 million in recurring synergies two years ahead of schedule, lifting EBITDA and offsetting volume-related losses.
**Divestments** Completed the sale of three non-core businesses for £18 million, optimizing the portfolio.
**Refinancing** Secured a new financing facility of up to €825 million on investment-grade terms, enhancing financial flexibility.
**Ventures** SkreenHouse, the venture arm, reviewed over 250 projects and made 8 investments in innovative construction technologies.
**Sustainability** Maintained CDP Climate Change rating of B and improved Water Security rating to B. Progressed decarbonization initiatives, including kiln conversions and increased use of renewable energy.
**Market and Outlook**
**Market Conditions** Core volumes were down 3% due to softer construction and steel markets, but there are encouraging signs of recovery in several regions.
**Structural Trends** Expected benefits from the German infrastructure stimulus, improving steel industry conditions, and increased defense spending.
**Residential Market** Housing remains at cyclical lows, but a significant shortfall in European housing stock suggests potential future demand.
**Growth Opportunities** Data center, AI, and green economy investments provide additional opportunities for the construction materials segment.
**Governance and Investor Engagement**
**Capital Markets Day** Successfully held the inaugural event, outlining the 5-year plan and engaging with over 70% of shareholders.
**Board Stability** Maintained a stable and engaged board, with full attendance and active participation in governance and investor activities.
**Strategic Advisory Board** Established to focus on long-term strategic direction.
**Future Priorities**
**Safety and Operations** Improve safety and operating standards across all sites.
**Margin Protection** Strengthen margins through cost and capital discipline.
**Growth Conversion** Convert improving infrastructure and industrial demand into profitable growth.
**Selective Growth** Pursue organic and acquisitive growth where long-term returns are compelling.
**Conclusion**
SigmaRoc PLC delivered a strong financial performance in 2025, marked by significant improvements in profitability, cash flow, and operational efficiency. The company is well-positioned to capitalize on emerging structural trends in Europe, supported by a diversified portfolio, strategic divestments, and a focus on sustainability. The board remains optimistic about the future, with clear priorities to drive further growth and value creation.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2024 (£m)2025 (£m)YoY Change
Revenue997.61,035.9+3.8%
EBITDA224.6262.2+16.7%
Profit before tax117.6154.0+31.0%
Net debt509.5472.4-7.3%
Covenant Leverage (x)2.091.80-13.9%
**Key Observations:** * **Revenue Growth:** Revenue increased by 3.8% year-on-year, driven by pricing and mix benefits. * **Improved Profitability:** EBITDA and profit before tax showed significant growth of 16.7% and 31.0% respectively, indicating improved operational efficiency and cost management. * **Debt Reduction:** Net debt decreased by 7.3%, and covenant leverage improved by 13.9%, reflecting stronger cash flow and financial discipline.
06:01
93 Strong Beat
BKS
Beeks Trading Corporation Ltd
Positive
**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):** **Financial Highlights:** - **Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting strong recurring revenue growth. - **New Contracts:** Total Contract Value (TCV) of new contracts signed rose by 23% to £11.9 million (H1 FY25: £9.7 million), driven by high demand across all offerings. - **Revenue and Profitability:** Revenues slightly declined to £14.65 million (H1 2025: £15.79 million) due to contract timing and the shift to a revenue share model for Exchange Cloud. Gross profit fell to £4.50 million (H1 2025: £6.03 million), and underlying EBITDA decreased to £4.12 million (H1 2025: £5.74 million). Underlying profit before tax turned to a loss of £0.69 million (H1 2025: £1.89 million profit), but strong profit progression is expected in H2 as contracts deploy and revenue recognition commences. - **Cash Position:** Gross cash remained stable at £6.96 million, with net cash at £3.29 million (H1 2025: £6.57 million) after upfront investments to support contract wins. **Operational Highlights:** - **Commercial Momentum:** Secured £6 million TCV of Proximity Cloud contracts in December 2025, with revenue recognition largely starting in H2. - **Exchange Cloud:** Signed two new contracts (TMX Group and nuam) under the revenue share model, bringing the total to seven exchanges signed, with four on the revenue share model. Live deployments are transitioning to profitability ahead of expectations. - **Market Edge Intelligence™:** Launched an AI-powered analytics platform, with a proof-of-concept customer (a major global bank) now in contractual discussions. - **Customer Base:** Supports over 30 Tier-1 banks and investment managers, with significant expansion opportunities. **Outlook:** - **H2 FY26 Revenue:** Expected to be supported by £4.5 million in revenue recognition from H1 contract wins, remaining deployment of the Grupo Bolsa Mexicana (BMV) DR site, and go-live of two Exchange Cloud contracts. - **Pipeline:** Multiple significant contracts in discussion across all offerings, with the Board confident in full-year performance in line with expectations. - **Long-Term Growth:** Significant addressable opportunity with limited competition, positioning the company for considerable long-term growth. **CEO’s Commentary (Gordon McArthur):** Highlighted strong commercial momentum and a robust customer base with expansion potential. Emphasized that while H1 financial performance was impacted by contract timing and revenue share models, it lays the foundation for significant profitable growth in the future. **CFO’s Commentary (Fraser McDonald):** Noted the impact of contract timing and revenue share models on H1 financials but stressed the strengthening recurring revenue base and expected H2 profitability. Highlighted continued investment in infrastructure and product development, with a focus on efficient capital allocation and margin improvement. **Key Metrics:** - **ACMRR Growth:** 15% to £32.80 million. - **TCV Growth:** 23% to £11.9 million. - **Revenue Decline:** 7% to £14.65 million. - **Gross Profit Decline:** 25% to £4.50 million. - **Underlying EBITDA Decline:** 28% to £4.12 million. - **Underlying Loss Before Tax:** £0.69 million (H1 2025: £1.89 million profit). **Conclusion:** Beeks Financial Cloud Group PLC demonstrated strong commercial progress in H1 FY26, despite short-term financial headwinds due to contract timing and revenue model transitions. The company is well-positioned for significant revenue and profit growth in H2 and beyond, supported by a robust pipeline, expanding customer base, and innovative product offerings.
**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):**
**Financial Highlights**
**Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting strong recurring revenue growth.
**New Contracts** Total Contract Value (TCV) of new contracts signed rose by 23% to £11.9 million (H1 FY25: £9.7 million), driven by high demand across all offerings.
**Revenue and Profitability** Revenues slightly declined to £14.65 million (H1 2025: £15.79 million) due to contract timing and the shift to a revenue share model for Exchange Cloud. Gross profit fell to £4.50 million (H1 2025: £6.03 million), and underlying EBITDA decreased to £4.12 million (H1 2025: £5.74 million). Underlying profit before tax turned to a loss of £0.69 million (H1 2025: £1.89 million profit), but strong profit progression is expected in H2 as contracts deploy and revenue recognition commences.
**Cash Position** Gross cash remained stable at £6.96 million, with net cash at £3.29 million (H1 2025: £6.57 million) after upfront investments to support contract wins.
**Operational Highlights**
**Commercial Momentum** Secured £6 million TCV of Proximity Cloud contracts in December 2025, with revenue recognition largely starting in H2.
**Exchange Cloud** Signed two new contracts (TMX Group and nuam) under the revenue share model, bringing the total to seven exchanges signed, with four on the revenue share model. Live deployments are transitioning to profitability ahead of expectations.
**Market Edge Intelligence™** Launched an AI-powered analytics platform, with a proof-of-concept customer (a major global bank) now in contractual discussions.
**Customer Base** Supports over 30 Tier-1 banks and investment managers, with significant expansion opportunities.
**Outlook**
**H2 FY26 Revenue** Expected to be supported by £4.5 million in revenue recognition from H1 contract wins, remaining deployment of the Grupo Bolsa Mexicana (BMV) DR site, and go-live of two Exchange Cloud contracts.
**Pipeline** Multiple significant contracts in discussion across all offerings, with the Board confident in full-year performance in line with expectations.
**Long-Term Growth** Significant addressable opportunity with limited competition, positioning the company for considerable long-term growth.
**CEO’s Commentary (Gordon McArthur)**
Highlighted strong commercial momentum and a robust customer base with expansion potential. Emphasized that while H1 financial performance was impacted by contract timing and revenue share models, it lays the foundation for significant profitable growth in the future.
**CFO’s Commentary (Fraser McDonald)**
Noted the impact of contract timing and revenue share models on H1 financials but stressed the strengthening recurring revenue base and expected H2 profitability. Highlighted continued investment in infrastructure and product development, with a focus on efficient capital allocation and margin improvement.
**Key Metrics**
**ACMRR Growth** 15% to £32.80 million.
**TCV Growth** 23% to £11.9 million.
**Revenue Decline** 7% to £14.65 million.
**Gross Profit Decline** 25% to £4.50 million.
**Underlying EBITDA Decline** 28% to £4.12 million.
**Underlying Loss Before Tax** £0.69 million (H1 2025: £1.89 million profit).
**Conclusion**
Beeks Financial Cloud Group PLC demonstrated strong commercial progress in H1 FY26, despite short-term financial headwinds due to contract timing and revenue model transitions. The company is well-positioned for significant revenue and profit growth in H2 and beyond, supported by a robust pipeline, expanding customer base, and innovative product offerings.
Here is the HTML table code comparing the financials and debt year on year for Beeks Financial Cloud Group PLC:
MetricH1 2026H1 2025Change
Revenue (£'000)14,65315,794(7%)
Gross Profit (£'000)4,5006,028(25%)
Underlying EBITDA (£'000)4,1205,740(28%)
Underlying (Loss)/Profit Before Tax (£'000)(690)1,890(136%)
Statutory (Loss)/Profit Before Tax (£'000)(1,868)461(506%)
Net Cash (£'000)3,2906,570(50%)
Gross Debt (£'000)8,5991,953340%
Net Debt (£'000)(1,641)5,378(131%)
**Notes:** * The table compares key financial metrics and debt figures for H1 2026 and H1 2025. * The "Change" column shows the percentage change between the two periods. * The data is extracted from the provided text, which includes the company's interim results announcement. * The table focuses on the most relevant financial and debt metrics, providing a snapshot of the company's performance and financial position year on year.
06:01
93 Strong Beat
ATT
Allianz Technology Trust PLC
Positive
**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025** **Overview** Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increase in Net Asset Value (NAV), outperforming its benchmark, the Dow Jones World Technology Index, which rose by **20.0%**. This represents a **4.7 percentage point outperformance**. The share price total return was slightly higher at **25.8%**, supported by a narrowing discount to NAV. **Key Highlights** 1. **Performance**: ATT’s differentiated strategy, focusing on mid- and large-cap technology companies rather than solely on the largest firms, drove its outperformance. Holdings in companies like Micron Technology, Lam Research, and Robinhood Markets contributed significantly to the results. 2. **Portfolio Strategy**: The Trust avoided over-concentration in the "Magnificent 7" mega-cap tech companies, instead diversifying into smaller firms with strong growth potential. This approach mitigated risks associated with passive index replication. 3. **Discount Management**: The discount to NAV narrowed from **8.6%** at the end of 2024 to **7.8%** in 2025. The Board continued its share buyback program, repurchasing **26,088,876 shares** for **£124.99 million** during the year, with further buybacks post-year-end. 4. **Awards**: ATT was named **2025 Investment Company of the Year** in the Technology category by Investment Week, recognizing its strong three-year performance and strategic differentiation. 5. **Geopolitical Context**: Despite global uncertainties, including trade tariffs, the Ukraine war, and Middle East tensions, technology demand remained robust, supporting the sector’s growth. 6. **Costs**: The Ongoing Charges Figure (OCF) decreased marginally to **0.62%**, maintaining ATT’s position as the lowest-cost trust in its AIC peer group. **Portfolio Insights** - **Top Holdings**: NVIDIA, Alphabet, Microsoft, Apple, and Broadcom were the largest holdings, collectively representing **62.3%** of the portfolio. - **Sector Focus**: Semiconductors and semiconductor equipment accounted for **32.5%** of the portfolio, delivering an average return of **45.6%**. - **New Additions**: Robinhood Markets was a notable new addition, contributing **1 percentage point** to relative performance. **Outlook** The Trust anticipates ongoing volatility due to geopolitical tensions and market dynamics, particularly around AI valuations. However, the long-term growth prospects for technology remain strong, supported by innovation and increasing demand. ATT’s active management approach, combined with its focus on diversification and risk mitigation, positions it well to navigate these challenges. **Governance and Future Plans** - The Board will seek authority at the **2026 AGM** to buy back up to **14.99%** of issued shares. - Shareholders will vote on the continuation of the Trust, with the Board strongly recommending approval given ATT’s strong performance and strategic positioning. **Conclusion** Allianz Technology Trust PLC demonstrated resilience and strong performance in 2025, outperforming its benchmark through a differentiated and actively managed portfolio. Despite global uncertainties, the Trust remains well-positioned to capitalize on the long-term growth opportunities in the technology sector.
**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025**
**Overview**
Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increase in Net Asset Value (NAV), outperforming its benchmark, the Dow Jones World Technology Index, which rose by **20.0%**. This represents a **4.7 percentage point outperformance**. The share price total return was slightly higher at **25.8%**, supported by a narrowing discount to NAV.
**Key Highlights**
1. **Performance**ATT’s differentiated strategy, focusing on mid- and large-cap technology companies rather than solely on the largest firms, drove its outperformance. Holdings in companies like Micron Technology, Lam Research, and Robinhood Markets contributed significantly to the results.
2. **Portfolio Strategy**The Trust avoided over-concentration in the "Magnificent 7" mega-cap tech companies, instead diversifying into smaller firms with strong growth potential. This approach mitigated risks associated with passive index replication.
3. **Discount Management**The discount to NAV narrowed from **8.6%** at the end of 2024 to **7.8%** in 2025. The Board continued its share buyback program, repurchasing **26,088,876 shares** for **£124.99 million** during the year, with further buybacks post-year-end.
4. **Awards**ATT was named **2025 Investment Company of the Year** in the Technology category by Investment Week, recognizing its strong three-year performance and strategic differentiation.
5. **Geopolitical Context**Despite global uncertainties, including trade tariffs, the Ukraine war, and Middle East tensions, technology demand remained robust, supporting the sector’s growth.
6. **Costs**The Ongoing Charges Figure (OCF) decreased marginally to **0.62%**, maintaining ATT’s position as the lowest-cost trust in its AIC peer group.
**Portfolio Insights**
**Top Holdings**NVIDIA, Alphabet, Microsoft, Apple, and Broadcom were the largest holdings, collectively representing **62.3%** of the portfolio.
**Sector Focus**Semiconductors and semiconductor equipment accounted for **32.5%** of the portfolio, delivering an average return of **45.6%**.
**New Additions**Robinhood Markets was a notable new addition, contributing **1 percentage point** to relative performance.
**Outlook**
The Trust anticipates ongoing volatility due to geopolitical tensions and market dynamics, particularly around AI valuations. However, the long-term growth prospects for technology remain strong, supported by innovation and increasing demand. ATT’s active management approach, combined with its focus on diversification and risk mitigation, positions it well to navigate these challenges.
**Governance and Future Plans**
The Board will seek authority at the **2026 AGM** to buy back up to **14.99%** of issued shares.
Shareholders will vote on the continuation of the Trust, with the Board strongly recommending approval given ATT’s strong performance and strategic positioning.
**Conclusion**
Allianz Technology Trust PLC demonstrated resilience and strong performance in 2025, outperforming its benchmark through a differentiated and actively managed portfolio. Despite global uncertainties, the Trust remains well-positioned to capitalize on the long-term growth opportunities in the technology sector.
Here’s an HTML table comparing the financials and debt year-on-year for Allianz Technology Trust PLC based on the provided text:
Metric20242025Change
Net Asset Value (NAV) Return+35.6%+24.7%-10.9%
Share Price Total ReturnN/A+25.8%N/A
Benchmark (Dow Jones World Technology Index) ReturnN/A+20.0%N/A
Outperformance vs. BenchmarkN/A+4.7%N/A
Discount to NAV8.6%7.8%-0.8%
Shares Repurchased (Number)26,088,87626,088,8760
Shares Repurchased (Value)£124,993,000£124,993,0000
Ongoing Charges Figure (OCF)0.64%0.62%-0.02%
Profit (Loss) on Ordinary Activities (£'000s)460,066406,981-53,085
Net Assets (£'000s)1,746,8672,028,855+281,988
Net Asset Value per Ordinary Share (pence)458.6p571.7p+113.1p
### Notes: 1. **Net Asset Value (NAV) Return**: The return on NAV decreased from +35.6% in 2024 to +24.7% in 2025. 2. **Share Price Total Return**: Only available for 2025, showing a +25.8% return. 3. **Benchmark Return**: The benchmark return for 2025 was +20.0%. 4. **Outperformance vs. Benchmark**: The trust outperformed the benchmark by +4.7% in 2025. 5. **Discount to NAV**: The discount narrowed from 8.6% in 2024 to 7.8% in 2025. 6. **Shares Repurchased**: The number and value of shares repurchased remained the same in both years. 7. **Ongoing Charges Figure (OCF)**: The OCF decreased slightly from 0.64% to 0.62%. 8. **Profit (Loss) on Ordinary Activities**: Profit decreased by £53,085,000 from 2024 to 2025. 9. **Net Assets**: Net assets increased by £281,988,000 from 2024 to 2025. 10. **Net Asset Value per Ordinary Share**: NAV per share increased by 113.1p from 2024 to 2025. This table provides a clear comparison of key financial metrics between 2024 and 2025 for Allianz Technology Trust PLC.
06:01
88 Trading Edge
TENG
Ten Lifestyle Group PLC
Positive
**Summary: Ten Lifestyle Group PLC H1 2026 Trading Update** Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include: - **Financial Growth**: Net Revenue increased by 6% year-on-year (YoY) to £33.7m (9% at constant currency), while Adjusted EBITDA rose by 16% YoY to £7.0m (28% at constant currency). Adjusted EBITDA margin improved to 20.7% from 18.9% in H1 2025. - **Membership Growth**: Active Members grew by 23% YoY to 436,000, driven by higher engagement with the digital platform. - **Cash Position**: Net cash increased to £9.3m, supported by a new £5.0m revolving credit facility with NatWest, replacing higher-cost loan notes. - **Strategic Wins**: Launched the Ten Digital Platform with a leading UK bank and secured a digitally enabled concierge contract with a global technology company, expanding into a new customer segment. Additional contracts were won in Europe and AMEA, set to launch in H2 2026. - **Technology Investment**: Continued investment in the digital platform to enhance customer experience, efficiency, scalability, and service quality. - **Outlook**: The Group remains on track to meet full-year market expectations, with new contracts supporting growth into FY 2027. CEO Alex Cheatle emphasized the Group’s strengthened market position and commitment to delivering "better than the internet" customer experiences, driving contract wins and operational improvements. Ten Lifestyle Group remains focused on its mission to become the most trusted service platform globally, underpinned by its B Corp certification and sustainable business practices.
**SummaryTen Lifestyle Group PLC H1 2026 Trading Update**
Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include
**Financial Growth**Net Revenue increased by 6% year-on-year (YoY) to £33.7m (9% at constant currency), while Adjusted EBITDA rose by 16% YoY to £7.0m (28% at constant currency). Adjusted EBITDA margin improved to 20.7% from 18.9% in H1 2025.
**Membership Growth**Active Members grew by 23% YoY to 436,000, driven by higher engagement with the digital platform.
**Cash Position**Net cash increased to £9.3m, supported by a new £5.0m revolving credit facility with NatWest, replacing higher-cost loan notes.
**Strategic Wins**Launched the Ten Digital Platform with a leading UK bank and secured a digitally enabled concierge contract with a global technology company, expanding into a new customer segment. Additional contracts were won in Europe and AMEA, set to launch in H2 2026.
**Technology Investment**Continued investment in the digital platform to enhance customer experience, efficiency, scalability, and service quality.
**Outlook**The Group remains on track to meet full-year market expectations, with new contracts supporting growth into FY 2027.
CEO Alex Cheatle emphasized the Group’s strengthened market position and commitment to delivering "better than the internet" customer experiences, driving contract wins and operational improvements. Ten Lifestyle Group remains focused on its mission to become the most trusted service platform globally, underpinned by its B Corp certification and sustainable business practices.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricH1 2026H1 2025Change (%)Change at Constant Currency (%)
Net Revenue (£m)33.731.8+6%+9%
Adjusted EBITDA (£m)7.06.0+16%+28%
Adjusted EBITDA Margin (%)20.718.9+1.8pps-
Active Members (k)436354+23%-
Net Cash (£m)9.36.8+37%-
Debt (Loan Notes Repaid) (£m)00.8-100%-
Revolving Credit Facility (£m)5.00New Facility-
### Key Notes: 1. **Net Revenue** and **Adjusted EBITDA** are compared year-on-year, including both reported and constant currency figures. 2. **Adjusted EBITDA Margin** is presented as a percentage point change (pps). 3. **Active Members** and **Net Cash** are compared directly year-on-year. 4. **Debt** includes the repayment of loan notes and the new revolving credit facility secured in H1 2026. 5. The table is structured for clarity, with metrics, values, and changes presented in a clean format.
06:01
84 Broker Upgrade
VOF
VinaCapital Vietnam Opportunity Fund
Positive
**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):** **Overview:** VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period from July 1, 2025, to December 31, 2025. The report highlights the funds performance, investment strategy, and outlook for the Vietnamese market. **Financial Performance:** - **Net Asset Value (NAV) per share:** Increased by 11.9% to USD 7.97, resulting in a total return of 12.8% in USD terms. - **Share Price:** Increased by 10.3% on a USD total return basis. - **Dividend:** Paid 7.25 US cents per share in December 2025, with the next dividend of the same amount payable on May 6, 2026. **Investment Strategy and Portfolio:** - **Benchmark Agnostic:** VOF does not follow a specific index but notes the strong performance of the VN Index (up 29.8%) driven by Vingroup (VIC), which the fund does not hold due to valuation and transparency concerns. - **Portfolio Repositioning:** The fund actively repositioned its portfolio, trimming long-term holdings and reinvesting in new opportunities, adding 4.4% to the calendar year return. - **Private Investments:** Progress was made in distressed privately negotiated investments, including restructuring the holding in Dat Xanh Real Estate Services (DXS) into listed shares in Dat Xanh Group (DXG), resulting in a USD 6.7 million uplift. - **Sector Focus:** Key sectors include Financials (29.9% of NAV), Real Estate (25.4%), Industrials (17.4%), and Consumer (24.2%). **Market and Economic Outlook:** - **Vietnamese Economy:** Expected to grow over 8% in 2026, driven by infrastructure development and real estate market stimulation. - **Challenges:** Potential impact of Middle East tensions on inflation and interest rates, and the need for continued economic reforms. - **Investment Opportunities:** The fund sees opportunities in both public and private markets, particularly as Vietnam moves towards Emerging Market status, which should improve market liquidity and breadth. **Corporate Actions and Governance:** - **Board Changes:** Charlotta Ginman took over as Chair of the Audit Committee and Management Engagement Committee. Julian Healy remains on the Board focusing on private equity investments. - **Share Repurchase Program:** 7.0 million shares were bought back at a cost of USD 44.3 million, helping to control the discount and increase NAV. - **Management Fees:** The Board is reviewing management fees to align them more closely with market levels. **Conclusion:** VOF remains optimistic about the Vietnamese market, despite short-term challenges. The funds strategy focuses on identifying undervalued opportunities in both listed and private markets, leveraging its expertise in privately negotiated investments. The Board and Investment Manager are committed to enhancing shareholder value through active portfolio management, dividend payments, and strategic corporate actions.
**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):**
**Overview**
VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period from July 1, 2025, to December 31, 2025. The report highlights the funds performance, investment strategy, and outlook for the Vietnamese market.
**Financial Performance**
**Net Asset Value (NAV) per share** Increased by 11.9% to USD 7.97, resulting in a total return of 12.8% in USD terms.
**Share Price** Increased by 10.3% on a USD total return basis.
**Dividend** Paid 7.25 US cents per share in December 2025, with the next dividend of the same amount payable on May 6, 2026.
**Investment Strategy and Portfolio**
**Benchmark Agnostic** VOF does not follow a specific index but notes the strong performance of the VN Index (up 29.8%) driven by Vingroup (VIC), which the fund does not hold due to valuation and transparency concerns.
**Portfolio Repositioning** The fund actively repositioned its portfolio, trimming long-term holdings and reinvesting in new opportunities, adding 4.4% to the calendar year return.
**Private Investments** Progress was made in distressed privately negotiated investments, including restructuring the holding in Dat Xanh Real Estate Services (DXS) into listed shares in Dat Xanh Group (DXG), resulting in a USD 6.7 million uplift.
**Sector Focus** Key sectors include Financials (29.9% of NAV), Real Estate (25.4%), Industrials (17.4%), and Consumer (24.2%).
**Market and Economic Outlook**
**Vietnamese Economy** Expected to grow over 8% in 2026, driven by infrastructure development and real estate market stimulation.
**Challenges** Potential impact of Middle East tensions on inflation and interest rates, and the need for continued economic reforms.
**Investment Opportunities** The fund sees opportunities in both public and private markets, particularly as Vietnam moves towards Emerging Market status, which should improve market liquidity and breadth.
**Corporate Actions and Governance**
**Board Changes** Charlotta Ginman took over as Chair of the Audit Committee and Management Engagement Committee. Julian Healy remains on the Board focusing on private equity investments.
**Share Repurchase Program** 7.0 million shares were bought back at a cost of USD 44.3 million, helping to control the discount and increase NAV.
**Management Fees** The Board is reviewing management fees to align them more closely with market levels.
**Conclusion**
VOF remains optimistic about the Vietnamese market, despite short-term challenges. The funds strategy focuses on identifying undervalued opportunities in both listed and private markets, leveraging its expertise in privately negotiated investments. The Board and Investment Manager are committed to enhancing shareholder value through active portfolio management, dividend payments, and strategic corporate actions.
Here is a comparison of the financials and debt year on year for VinaCapital Vietnam Opportunity Fund Limited, presented as an HTML table:
Metric2024 (Year ended 30 June)2025 (Six months ended 31 December)
Total Assets (USD'000)965,9921,060,755
Total Liabilities (USD'000)1,82138,466
Shareholders' Equity (USD'000)964,1711,022,289
Net Asset Value (NAV) per share (USD)7.137.97
Profit for the period (USD'000)25,824111,640
Earnings per share (USD)0.170.85
Dividends paid (USD'000)10,6579,470
Dividend per share (USD)0.07250.0725
Loans and other borrowings (USD'000)025,000
**Key Observations:** - **Total Assets**: Increased by 9.8% from USD 965,992 in 2024 to USD 1,060,755 in 2025. - **Total Liabilities**: Increased significantly from USD 1,821 in 2024 to USD 38,466 in 2025, primarily due to the new loan facility of USD 25,000. - **Shareholders' Equity**: Increased by 6.0% from USD 964,171 in 2024 to USD 1,022,289 in 2025. - **NAV per share**: Increased by 11.8% from USD 7.13 in 2024 to USD 7.97 in 2025. - **Profit for the period**: Increased significantly from USD 25,824 in 2024 to USD 111,640 in 2025. - **Earnings per share**: Increased from USD 0.17 in 2024 to USD 0.85 in 2025. - **Dividends paid**: Decreased slightly from USD 10,657 in 2024 to USD 9,470 in 2025, but the dividend per share remained the same at USD 0.0725. - **Loans and other borrowings**: Increased from USD 0 in 2024 to USD 25,000 in 2025 due to the new revolving credit facility. This table provides a concise comparison of key financial metrics and debt levels between the year ended 30 June 2024 and the six months ended 31 December 2025 for VinaCapital Vietnam Opportunity Fund Limited.
06:01
80 Positive
ACRM
Acuity RM Group Plc
Positive
**Summary:** Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk management platform. This product is the culmination of the NextGen STREAM® programme, initially announced in June 2025, and addresses quality issues identified during its initial rollout by undergoing comprehensive redevelopment and <mark style="background-color:yellow">test</mark>ing. **STREAM® Cloud** offers enhanced configurability, usability, and AI-readiness, targeting mid-market organizations at the early-to-intermediate stage of cyber risk management. Key features include rapid deployment, guided workflows, risk lifecycle management, simplified reporting, and pre-configured content aligned with industry standards. Delivered as a SaaS solution on Microsoft Azure, it provides a lower entry price point and a clear upgrade pathway to **STREAM® Classic** for customers with evolving needs. The launch aims to capitalize on increasing regulatory demands (e.g., NIS2, DORA, UK Cyber Security and Resilience Bill) and growing board-level interest in structured cyber risk reporting. CEO David Rajakovich emphasized the product’s role in broadening the company’s market reach, accelerating customer acquisition, and driving recurring revenue growth. **STREAM® Cloud** complements the existing **STREAM® Classic** platform, which serves enterprise-level clients with complex GRC needs. This launch aligns with Acuity RM Group’s strategy to deliver sustainable growth through organic expansion and acquisitions, positioning the company to address a wider market while maintaining its focus on high-demand sectors like government, defense, and regulated industries.
**Summary**
Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk management platform. This product is the culmination of the NextGen STREAM® programme, initially announced in June 2025, and addresses quality issues identified during its initial rollout by undergoing comprehensive redevelopment and <mark style="background-color:yellow">test</mark>ing.
**STREAM® Cloud** offers enhanced configurability, usability, and AI-readiness, targeting mid-market organizations at the early-to-intermediate stage of cyber risk management. Key features include rapid deployment, guided workflows, risk lifecycle management, simplified reporting, and pre-configured content aligned with industry standards. Delivered as a SaaS solution on Microsoft Azure, it provides a lower entry price point and a clear upgrade pathway to **STREAM® Classic** for customers with evolving needs.
The launch aims to capitalize on increasing regulatory demands (e.g., NIS2, DORA, UK Cyber Security and Resilience Bill) and growing board-level interest in structured cyber risk reporting. CEO David Rajakovich emphasized the product’s role in broadening the company’s market reach, accelerating customer acquisition, and driving recurring revenue growth. **STREAM® Cloud** complements the existing **STREAM® Classic** platform, which serves enterprise-level clients with complex GRC needs.
This launch aligns with Acuity RM Group’s strategy to deliver sustainable growth through organic expansion and acquisitions, positioning the company to address a wider market while maintaining its focus on high-demand sectors like government, defense, and regulated industries.
Launch
06:01
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Full details of the share <mark style="background-color:yellow">purchase</mark> are set out below.

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Directorate change

AMG
AMG Atlas Metals Group plc
12:18
Market

PDMR Dealings

NCC
NCC NCC Group plc
12:08
Market

Form 8.3

MOON
MOON Moonpig Group PLC
12:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Baillie Gifford & Co', '9.971000', '10.002000']
PHP
PHP Primary Health Properties
12:01
Market

Director/PDMR Shareholding

ITRK
ITRK Intertek Group PLC
12:01
Market

Director/PDMR Shareholding

GLDA
GLDA Amundi Physical Gold ETC C
11:57
Market

Amundi Physical Metals plc: UK Final Terms

GLDA
GLDA Amundi Physical Gold ETC C
11:56
Market

Amundi Physical Metals plc: Final Terms

RAT
RAT Rathbone Brothers PLC
11:46
Market

Form 8.3 - LondonMetric Property Plc

LWI
LWI Lowland Investment Co
11:40
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of ordinary shares

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
SNR
SNR Senior PLC
11:37
Market

Form 8.3

SNR
SNR Senior PLC
11:36
Market

Form 8.3

YW57
YW57 YW57
11:30
Market

Acquisition

0UKI
0UKI Bank of Nova Scotia
11:28
Market

Form 8.3 British Land Company plc

JUST
JUST Just Group plc
11:16
Market

Form 8.3

JTC
JTC JTC PLC
11:15
Market

Form 8.3

GBG
GBG GB Group plc
11:14
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
IPF
IPF International Personal Fina…
11:13
Market

Form 8.3

PCT
PCT Polar Capital Technology Tr…
11:12
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of Ordinary Shares

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
CRWN
CRWN Crown Place VCT PLC
11:12
Market

Offer Update

BARC
BARC Barclays PLC
11:08
Market

Form 8.3 NCC GROUP PLC

HBR
HBR Harbour Energy PLC
11:03
Market

Director/PDMR Shareholding

DIG
DIG Dunedin Income Growth Inves…
11:02
Market

Director/PDMR Shareholding

THRL
THRL Target Healthcare REIT Ltd
11:01
Market

Investor Presentation via Investor Meet Company

HBR
HBR Harbour Energy PLC
11:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['EIG Global Energy Partners, LLC', '3.754476', '7.552607']
FCIT
FCIT F&C Investment Trust PLC
11:01
Market

Annual Financial Report

HHPD
HHPD Hon Hai Precision Industry …
10:55
Market

The change of chief internal auditor

HHPD
HHPD Hon Hai Precision Industry …
10:52
Market

Dividend Declaration

HHPD
HHPD Hon Hai Precision Industry …
10:50
Market

2025 Financial report has been approved by the BOD

BARC
BARC Barclays PLC
10:47
Market

Form 8.3 JTC PLC

BARC
BARC Barclays PLC
10:46
Market

Form 8.3 IQE PLC

BREE
BREE Breedon Group PLC
10:44
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['BlackRock, Inc.', '4.970000', '6.650000']
JEDT
JEDT JPMorgan Euro Small Compani…
10:36
Market

Director/PDMR Shareholding

JCGI
JCGI JPMorgan China Growth & Inc…
10:35
Market

Gearing Announcement

JMGI
JMGI JPMorgan Emerging Markets I…
10:35
Market

Gearing Announcement

JFJ
JFJ JPMorgan Japanese Investmen…
10:35
Market

Gearing Announcement

JEMI
JEMI JPMorgan Global Emerging Ma…
10:35
Market

Gearing Announcement

JIGI
JIGI JPMorgan India Growth & Inc…
10:35
Market

Gearing Announcement

JAGI
JAGI JPMorgan Asia Growth & Inco…
10:35
Market

Gearing Announcement

JEDT
JEDT JPMorgan Euro Small Compani…
10:35
Market

Gearing Announcement

JUGI
JUGI JPMorgan UK Small Cap Growt…
10:35
Market

Gearing Announcement

JEGI
JEGI JPMorgan European Growth & …
10:35
Market

Gearing Announcement

MRC
MRC The Mercantile Investment T…
10:35
Market

Gearing Announcement

JGGI
JGGI JP Morgan Global Growth & I…
10:35
Market

Gearing Announcement

JUSC
JUSC JPmorgan US Smaller Compani…
10:35
Market

Gearing Announcement

JAM
JAM JPMorgan American Investmen…
10:35
Market

Gearing Announcement

JCH
JCH JPMorgan Claverhouse Invest…
10:35
Market

Gearing Announcement

PAGE
PAGE Pagegroup PLC
10:35
Market

Director/PDMR Shareholding

BPT
BPT Bridgepoint Group Plc
10:31
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of ordinary shares

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
BPT
BPT Bridgepoint Group Plc
10:31
Market

Director/PDMR Shareholding

THR
THR Thor Mining PLC
10:31
Market

Half-year Report for the 6 months ending 31 Dec 25

**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025** Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 Decemb…

**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025**
Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 December 2025. The report highlights the companys strategic focus on portfolio rationalization, exploration advancements, and financial performance.
**Key Highlights**
1. **Portfolio Rationalization and Exploration:**
The company prioritized de-risking its asset portfolio and advancing its HY-Range natural hydrogen and helium project in South Australia.
Field activities at HY-Range confirmed the presence of working hydrogen and helium systems, with seismic planning underway for mid-2026 data acquisition.
2. **Board Changes**
Andrew Hume assumed the expanded role of Managing Director and CEO, allowing Alastair Clayton to transition to a Non-Executive Chairman role.
3. **Asset Sales and Farm-outs**
Thor Energy sold its 75% holding in the Molyhil tungsten-molybdenum project to Tivan Limited, generating significant cash inflows and eliminating the need for capital raising.
The company farmed down its US uranium projects to Metals One PLC, retaining a 25% stake free of holding and administration costs.
4. **Financial Performance**
The company reported a loss before taxation of £1,255,000 for the half-year, with net cash outflows of £473,000 from operating activities.
As of 31 December 2025Thor Energy had £787000 in cash and cash equivalents.
5. **Going Concern**
The report highlights a material uncertainty regarding the companys ability to continue as a going concern, dependent on successful asset sales or capital raising.
6. **Post-Balance Sheet Events**
Thor Energy received a A$2,250,000 (£1,125,000) cash completion payment for the Molyhil project sale in January 2026.
The company was awarded two Regulated Substance Exploration Licence Applications in South Australia in February 2026.
**Financial Summary**
**Loss before taxation:** £1255000
**Net cash outflows from operating activities:** £473,000
**Cash and cash equivalents:** £787000 (as of 31 December 2025)
**Conclusion**
Thor Energy PLCs half-year report reflects a strategic focus on portfolio optimization, exploration advancements, and financial management. While the company faces challenges related to its going concern status, recent asset sales and cash inflows provide a measure of financial stability. The companys continued focus on hydrogen, helium, and energy metals exploration positions it for potential growth in these emerging sectors.
Here’s an HTML table comparing the financials and debt year-on-year for Thor Energy PLC based on the provided text:
Metric6 Months Ended 31 Dec 20256 Months Ended 31 Dec 2024Year Ended 30 Jun 2025
Operating Loss (£'000)(553)(437)(5,993)
Loss Before Taxation (£'000)(1,255)(533)(7,441)
Loss for the Period (£'000)(1,255)(533)(7,441)
Total Comprehensive Loss (£'000)(1,250)(1,185)(8,280)
Net Assets (£'000)8,12112,8179,227
Cash and Cash Equivalents (£'000)7871,091686
Total Current Liabilities (£'000)(274)(483)(208)
Total Equity (£'000)8,12112,8179,227
Net Cash from Operating Activities (£'000)(475)(342)(900)
Net Cash from Investing Activities (£'000)608(61)(87)
Net Cash from Financing Activities (£'000)(10)738918
### Key Observations: 1. **Operating Loss**: Increased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but significantly lower than the full year ended 30 Jun 2025. 2. **Loss Before Taxation**: Higher in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but lower than the full year ended 30 Jun 2025. 3. **Net Assets**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but slightly higher than the full year ended 30 Jun 2025. 4. **Cash and Cash Equivalents**: Lower in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but higher than the full year ended 30 Jun 2025. 5. **Total Current Liabilities**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 and the full year ended 30 Jun 2025. 6. **Net Cash Flows**: Negative cash flow from operating activities in all periods, with positive cash flow from investing activities in the 6 months ended 31 Dec 2025 due to asset sales. This table provides a concise comparison of key financial metrics year-on-year, highlighting trends and changes in Thor Energy PLC's financial position.
BOWL
BOWL Hollywood Bowl Group PLC
10:27
Market

Change of Auditor

BIRG
BIRG Bank of Ireland Group PLC
10:27
Market

Holding(s) in Company

<mark style="background-color:yellow">TR1</mark> Buy

<mark style="background-coloryellow">TR1</mark> Buy
['Pzena Investment Management, LLC', 'Less than 3', '3.02']
BRK
BRK Brooks Macdonald Group
10:20
Market

Form 8.3 - LondonMetric Property plc

0RLW
0RLW Commerzbank AG
10:19
Market

Commerzbank takes note of UniCredit’s unsolicited takeover attempt

Please provide the text you would like me to summarize. Im ready when you are!

Please provide the text you would like me to summarize. Im ready when you are!
Takeover
AUGM
AUGM Augmentum Fintech PLC
10:19
Market

Form 8.3

BLND
BLND British Land Company PLC
10:17
Market

Form 8.3

NAS
NAS North Atlantic Smaller Comp…
10:14
Market

Transaction in Own Shares and TVR

BIRG
BIRG Bank of Ireland Group PLC
10:13
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Massachusetts Financial Services Company', '6.93', '7.76']
IPF
IPF International Personal Fina…
10:13
Market

Form 8.3

LABS
LABS Life Science REIT PLC
10:11
Market

Form 8.3

OTB
OTB On The Beach Group PLC
10:09
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
STJ
STJ St. Jamess Place plc
10:09
Market

Blocklisting Interim Review

FLTR
FLTR Flutter Entertainment PLC
10:01
Market

Transaction in Own Shares

GMET
GMET Guardian Metal Resources PLC
09:51
Market

Launch of Roadshow for US Initial Public Offering

**Summary:** Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximat…

**Summary**
Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL."
Key details of the offering include
**Offering Size** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM).
**Underwriters Option** A 45-day option for underwriters to purchase up to an additional 15% of the offering size.
**Use of Proceeds** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes.
**Underwriters** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers).
The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.
Launch
JUST
JUST Just Group plc
09:36
Market

Form 8.3

FORT
FORT Forterra PLC
09:33
Market

Launch of £20m Share Buyback Programme

**Summary:** Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-yea…

**Summary**
Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-year results, aims to purchase and cancel ordinary shares of 1 pence each, thereby reducing the companys share capital.
The buyback will be executed in two tranches: the first tranche of £10 million will begin immediately, managed by Joint Corporate Broker Investec Bank plc, acting as a riskless principal. The second tranche will follow upon completion of the first and is expected to conclude by December 31, 2026, subject to market conditions. The total number of shares to be purchased is capped at 21,280,338, as authorized by shareholders at the 2025 Annual General Meeting.
Purchases will occur in open market transactions, adhering to UK regulatory requirements, including the Financial Conduct Authoritys Listing Rules and EU regulations as part of UK domestic law. Transactions will be announced within seven market sessions of their occurrence. Forterras CEO Neil Ash and CFO Ben Guyatt are key contacts for inquiries.
Launch
RTO
RTO Rentokil Initial PLC
09:33
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
BEZ
BEZ Beazley plc
09:32
Market

Form 8.3

PRU
PRU Prudential plc
09:23
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
JARA
JARA Jpmorgan Global Core Real A…
09:23
Market

Quarterly Net Asset Value and Portfolio Update

BCG
BCG Baltic Classifieds Group PLC
09:10
Market

Director/PDMR Shareholding

0MGE
0MGE Sydbank
09:03
Market

AL Sydbank A/S share buyback programme: transactions in week 11

**Summary:** AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 mi…

**Summary**
AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 million, aims to reduce the banks share capital while adhering to EU Safe Harbour regulations (Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/1052).
During week 11, AL Sydbank repurchased 72,000 shares at a total gross value of DKK 37,930,500. The transactions were executed by Danske Bank A/S under ISIN DK 0010311471. Since the programmes inception, the bank has accumulated 139,000 shares, totaling DKK 73,959,120.
Following these transactions, AL Sydbank holds 140,474 own shares, representing 0.16% of its share capital. Further details are available in the attached document, in compliance with EU market abuse regulations.
**Key Points**
Share buyback programme: DKK 1100m (up to 4500000 shares).
Week 11 transactions: 72000 sharesDKK 37930500.
Total accumulated: 139000 sharesDKK 73959120.
Own shares held: 140474 (0.16% of share capital).
Executed by Danske Bank A/S under EU Safe Harbour rules.
BuyBack
ABDN
ABDN Abrdn PLC
09:01
Market

Form 8.3 - Senior PLC

ASIA
ASIA SPDR® Citi Asia Local Gover…
09:01
Market

Result of AGM and Directorate Changes

JAR
JAR Jardine Matheson Holdings L…
08:58
Market

Director/PDMR Shareholding

JAGI
JAGI JPMorgan Asia Growth & Inco…
08:54
Market

Mello Investment Trust & Funds Webinar

CPI
CPI Capita PLC
08:51
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of shares by Adolfo Hernandez, Chief Executive Officer

<mark style="background-coloryellow">Purchase</mark> of shares by Adolfo Hernandez, Chief Executive Officer
ESNT
ESNT Essentra PLC
08:41
Market

Transaction in Own Shares

0H7D
0H7D Deutsche Bank AG NA O.N.
08:40
Market

Form 8.5 (EPT/RI) - IQE plc

MPAL
MPAL MEDPAL AI PLC ORD 0.02P
08:37
Market

Pharmacy Operational Update

IHC
IHC Inspiration Healthcare Grou…
08:34
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
BCE
BCE Beacon Energy PLC
08:33
Market

Notification of Major Holdings

TR1 Buy

TR1 Buy
['Spreadex LTD', '3.229400', '2.059500']
HIK
HIK Hikma Pharmaceuticals PLC
08:30
Market

Transaction in Own Shares

IPF
IPF International Personal Fina…
08:27
Market

Holding(s) in Company

<mark style="background-color:yellow">TR1</mark> Buy

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '1.811638', 'Below Minimum Threshold']
BEZ
BEZ Beazley plc
08:25
Market

Form 8.3

IPF
IPF International Personal Fina…
08:24
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
KIE
KIE Kier Group PLC
08:21
Market

Transaction in Own Shares

FAN
FAN Volution Group plc
08:21
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
SCGL
SCGL Sealand Capital Galaxy Ltd
08:20
Market

Director/PDMR Shareholding

RCOI
RCOI Riverstone Credit Opportuni…
08:18
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
CLBS
CLBS Celebrus Technologies plc
08:16
Market

Transaction in Own Shares

EMAN
EMAN Everyman Media Group plc
08:05
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of Ordinary Shares

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
MOON
MOON Moonpig Group PLC
08:01
Market

Transaction in Own Shares

VTY
VTY Vistry Group PLC
08:01
Market

Director/PDMR Shareholding

CABP
CABP CAB Payments Holdings Ltd
07:56
Market

RESPONSE TO POSSIBLE OFFER ANNOUNCEMENT

**Summary:** CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of th…

**Summary**
CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of the entire issued and to-be-issued share capital of CAB Payments at 95 pence per share in cash. The proposal is subject to several pre-conditions outlined in the StoneX announcement.
The Independent Board of CAB Payments (excluding Henry Obi and Nitin Kaul) is currently evaluating the offer with financial and legal advisors. They emphasize the companys improved financial and operational performance in FY25 and its strategic guidance provided to the market on March 5, 2026. The Board remains confident in delivering attractive returns to shareholders, supported by its relationship-led approach to winning and retaining clients.
There is no certainty that StoneX will proceed with a formal offer or its terms. CAB Payments shareholders are advised to take no action at this time. The Takeover Panel will set a deadline for StoneX to either announce a firm intention to make an offer or confirm it does not intend to proceed.
The announcement includes standard legal disclaimers, regulatory notices, and contact details for CAB Payments and its advisors. It also outlines disclosure requirements under the City Code on Takeovers and Mergers for parties interested in 1% or more of relevant securities.
Offers
SDR
SDR Schroders PLC
07:51
Market

Form 8.3

TRN
TRN Trainline Plc
07:37
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['JPMorgan Chase & Co.', '0.212192', '0.199978']
HCM
HCM HUTCHMED China Ltd
07:31
Market

Vesting of awards under Long Term Incentive Plan

**Summary:** HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Sc…

**Summary**
HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Scientific Officer, received 19,913 ordinary shares as part of this vesting. The awards were initially granted on March 13, 2024. This notification complies with the UK Market Abuse Regulation and includes details about the transaction, the issuer, and the person discharging managerial responsibilities.
HUTCHMED is an innovative biopharmaceutical company focused on developing and commercializing targeted therapies and immunotherapies for cancer and immunological diseases. The company has successfully brought three medicines to market in China, with one also approved globally in regions including the US, Europe, and Japan. Contact information for investor and media enquiries, as well as details about the companys brokers, is provided. The announcement was released via RNS, the news service of the London Stock Exchange, on March 16, 2026.
Awards
0RYA
0RYA Ryanair Holdings plc
07:26
Market

Transaction in Own Shares

CTL
CTL CleanTech Lithium plc
07:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Metals One plc', '2.88', '6.33']
BYIT
BYIT Bytes Technology Ltd
07:01
Market

Holding(s) in Company

<mark style="background-color:yellow">TR1</mark> Buy

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '0.117695', 'Below Minimum Threshold']
CRH
CRH CRH PLC
07:01
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of Shares

<mark style="background-coloryellow">Purchase</mark> of Shares
0RPR
0RPR Ringkjoebing Landbobank A/S
06:56
Market

Share buyback programme – week 11

**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11** Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to …

**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11**
Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to 8 May 2026. The bank aims to buy back shares worth up to DKK 500 million, with a maximum of 600,000 shares, in compliance with EU regulations (Regulation No. 596/2014 and Delegated Regulation No. 2016/1052).
**Key Details**
**Programme Period** 2 February 2026 – 8 May 2026
**Total Buyback Amount** Up to DKK 500 million
**Maximum Shares:** 600000
**Compliance** EU "Safe Harbour" regulations
**Transactions in Week 11**
**Total Shares Bought in Week 11** 159,300
**Average Purchase Price (DKK):** 1624.58
**Total Purchased in Week 11 (DKK)** 258,795,057
**Cumulative Programme Progress**
**Total Shares Bought Under Programme** 1,267,447 (4.99% of share capital)
**Total Amount Spent Under Programme (DKK):** 1,758,779,223
**Historical Context**
**Previous Programmes (28 Jan 2025 – 30 Jan 2026):** 1,108,147 shares bought for DKK 1,499,984,166
**Ownership Update**
The bank now owns 1,267,447 shares, representing 4.99% of its share capital, excluding trading portfolio and customer investments.
**Detailed Transaction Data**
The announcement includes a detailed breakdown of transactions by date, volume, price, venue, and time, adhering to regulatory reporting requirements.
**Conclusion**
Ringkjøbing Landbobank continues its share buyback programme, with Week 11 transactions contributing significantly to the overall goal. The programme remains on track, with detailed transparency in compliance with EU regulations.
BuyBack
OTES
OTES HELLENIC TELECOMMUNICATIONS…
06:33
Market

Purchase of Own Shares

PPP
PPP Pennpetro Energy Plc
06:16
Market

Changes to Board Directors

BARC
BARC Barclays PLC
06:16
Market

Transaction in Own Shares

0A3D
0A3D iShares VII Public Limited …
06:11
Market

Net Asset Value(s)

CMB1
CMB1 iShares FTSE MIB UCITS
06:11
Market

Net Asset Value(s)

BBY
BBY Balfour Beatty plc
06:11
Market

Transaction in Own Shares

ULTP
ULTP Ultimate Products Plc
06:02
Market

EBT Share Purchase

RTW
RTW RTW Venture Fund Ltd
06:02
Market

Transaction in Own Shares

GROW
GROW Draper Esprit PLC
06:01
Market

Transaction in Own Shares

ULTP
ULTP Ultimate Products Plc
06:01
Market

Notice of Investor Presentation

JNEO
JNEO Journeo PLC
06:01
Market

Contract award in Denmark

**Summary:** Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (D…

**Summary**
Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (DSB), Denmarks largest state-owned passenger rail operator. This marks the first widescale on-train system contract for Journeos Nordic subsidiary since its acquisition in September 2023. The contract involves supplying and installing modern bodyside LED display panels into DSBs Dosto double-deck rail coaches, replacing outdated technology to enhance passenger experience and accessibility. Journeo demonstrated its engineering expertise by integrating the solution with existing onboard systems, avoiding the need for a complete technology refit. Installation is expected to begin in the second half of 2026 and be substantially completed by year-end. Russ Singleton, Journeos CEO, highlighted the strategic importance of this contract in expanding the companys presence in new territories and emphasized the collaborative effort across the Group to deliver the solution. Journeo plc operates through six subsidiaries, focusing on intelligent transport systems, passenger information systems, and critical infrastructure protection, with significant investment in research and development to drive innovation.
NewContract
EGT
EGT European Green Transition P…
06:01
Market

Investor Presentation via Investor Meet Company

PEY
PEY Princess Private Equity Hol…
06:01
Market

Save the date for 2025 annual results announcement

SDG
SDG Sanderson Design Group PLC
06:01
Market

Launch of Zoffany x Michael S. Smith Collection

**Summary:** Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned Americ…

**Summary**
Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned American interior designer Michael S. Smith features 55 new designs hand-selected from Zoffanys archives, combining vintage aesthetics with technical innovation. The fabrics are made from performance-led materials suitable for both indoor and outdoor use, addressing a market gap. The collection, launching in May 2026, reinforces Zoffanys luxury brand positioning and supports global growth, particularly in North America. CEO Lisa Montague and Michael S. Smith highlighted the collections innovative design and versatility, emphasizing its potential to set a new standard for indoor-outdoor living. The fabrics will be distributed globally through Sanderson Design Groups network.
Launch
PEY
PEY Princess Private Equity Hol…
06:01
Market

PGPE Ltd publishes January NAV

AZN
AZN AstraZeneca PLC
06:01
Market

Imfinzi approved in EU for early gastric cancer

**Summary:** AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) c…

**Summary**
AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers. The approval is based on positive results from the MATTERHORN Phase III trial, which demonstrated significant improvements in event-free survival (EFS) and overall survival (OS) compared to chemotherapy alone. The regimen includes Imfinzi in combination with FLOT chemotherapy before and after surgery, followed by Imfinzi monotherapy.
Key findings from the MATTERHORN trial include
A 29% reduction in the risk of disease progression, recurrence, or death with the Imfinzi-based regimen.
An estimated 69% of patients were alive at three years with Imfinzi, compared to 62% in the comparator arm.
The safety profile was consistent with known profiles of the individual medicines.
This approval marks AstraZenecas third perioperative approval in Europe for an Imfinzi-based regimen, highlighting the companys commitment to improving outcomes in early-stage cancers where cure is possible. Gastric cancer, the fifth leading cause of cancer death globally, affects nearly one million people annually, with approximately 15,500 drug-treated patients in the EU in 2024. The approval is expected to set a new standard of care for these patients.
Imfinzi is also approved in the US and other countries for this indication, with regulatory applications under review in Japan and several other countries. AstraZeneca continues to expand its immuno-oncology portfolio, focusing on innovative therapies to transform cancer care across various tumor types and stages.
Approvals
TRP
TRP Tower Resources plc
06:01
Market

License and Farmout Approval Update & Subscription

**Summary:** Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with P…

**Summary**
Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with Prime Global Energies Limited in Cameroon (Thali license) and Namibia (PEL96), with positive progress reported in meetings with government authorities. In Cameroon, the Societe Nationale de Hydrocarbures (SNH) recommended extending the exploration period and approving the farm-out, pending formal documentation. In Namibia, the Upstream Petroleum Unit is expediting approval, with due diligence on Prime completed.
The subscription involves issuing 6,315,785,262 ordinary shares at 0.02375p each, primarily to repay a £1 million convertible bridge loan due March 25, 2026. The remaining proceeds will fund working capital. The company also issued warrants to the broker, Axis Capital Markets Limited, as part of the arrangement.
Tower Resources remains focused on drilling the NJOM-3 well in Cameroon in Q3 2026, subject to rig availability, and is pursuing additional opportunities in Cameroon and Namibia. The company emphasized caution regarding precise approval timelines but expressed confidence in progress. The announcement includes regulatory disclaimers, forward-looking statement notices, and contact details for further information.
Approvals
DNM
DNM Dianomi PLC
06:01
Market

Partnership with AI Company Dappier

**Summary:** Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered fin…

**Summary**
Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered financial answers engine designed for financial publisher websites, enabling them to retain audiences and monetize AI-driven conversations directly on their platforms. This solution addresses the challenge of publishers losing audience engagement to external AI platforms like ChatGPT and Claude.
The AI engine leverages publishers journalism and archives to create conversational AI experiences, generating answers from trusted editorial content within the publishers environment. This approach not only retains readers but also integrates native advertising into the conversational experience, creating new revenue streams for publishers and financial brands.
The partnership combines Dappiers conversational AI technology with Dianomis extensive distribution network, reaching 500 million devices monthly across 250+ premium publishers. This has the potential to establish a sector-wide distributed AI answers network. Both CEOs, Rupert Hodson of Dianomi and Dan Goikhman of Dappier, emphasized the partnerships ability to transform financial intent into scalable advertising opportunities while providing a publisher-owned alternative to horizontal AI platforms.
Early responses have been positive, with ongoing discussions for pilot projects with major publishers and advertisers. This initiative positions Dianomi to deepen its publisher ecosystem relationships and expand its advertising opportunities.
AI
PYC
PYC Physiomics Plc
06:01
Market

General Meeting Request

TBTG
TBTG The Beauty Tech Group PLC
06:01
Market

Notice of Results

SMT
SMT Scottish Mortgage Investmen…
06:01
Market

Circular re proposed change to investment policy

EWI
EWI Edinburgh Worldwide Investm…
06:01
Market

Circ re. Edinburgh Worldwide Inv Trst Tender Offer

**Summary:** Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide…

**Summary**
Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide shareholders with a choice to realize value from their investment before a potential change of control by Saba, a minority shareholder with a 30% stake.
Chair Jonathan Simpson-Dent highlights that Saba intends to replace the board, appoint a new manager, and shift the investment mandate away from long-term global technological innovation. The board argues that the regulatory framework does not adequately protect shareholders from Sabas control agenda. The tender offer allows shareholders to exit at a fair value while retaining exposure to SpaceX, EWITs largest investment.
Shareholders must vote by April 8, 2026, and separately elect to tender shares by April 16, 2026. The board strongly recommends voting in favor of the tender offer to protect investments and end uncertainty surrounding Sabas actions. The announcement also includes important legal and regulatory information for shareholders, particularly those in the United States.
Offers
RST
RST Restore plc
06:01
Market

Commencement of £20m Share Buyback Programme

**Summary:** Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year …

**Summary**
Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year results on 12 March 2026, will involve the purchase of ordinary shares at 5 pence each. The programme is divided into two tranches of £10 million each, executed by Investec Bank plc and Canaccord Genuity Limited, respectively. Purchased shares will be cancelled, reducing the companys share capital.
The buyback is authorized under the companys 2025 annual general meeting (AGM) and will comply with UK Financial Conduct Authority regulations. The maximum number of shares to be purchased is 13,692,406, subject to market conditions, share price, and trading volumes. The first tranche begins immediately, with the second tranche expected to start after the first is completed and conclude no later than 31 March 2027.
For further inquiries, contact details for Restore plc, its brokers, and PR consultants are provided. The announcement was released via RNS, the news service of the London Stock Exchange, on 16 March 2026.
BuyBack
MTE
MTE Montanaro European Smaller …
06:01
Market

Publication of Circular and General Meeting

DLN
DLN Derwent London PLC
06:01
Market

Network building fully pre-let

TIME
TIME Time Finance PLC
06:01
Market

Notice of Trading Update

TUN
TUN Tungsten West PLC
06:01
Market

TR-1: Notification of major holdings

TR1 Buy

TR1 Buy
['Henry Maxey', '12.50', '10.83']
FDEV
FDEV Frontier Developments Plc
06:01
Market

Director/PDMR Shareholding

BRK
BRK Brooks Macdonald Group
06:01
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of ordinary shares of 1p each in the Company

<mark style="background-coloryellow">Purchase</mark> of ordinary shares of 1p each in the Company
DOTD
DOTD Dotdigital Group Plc
06:01
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of Ordinary Shares

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
SUPR
SUPR Supermarket Income REIT PLC
06:01
Market

Director/PDMR Shareholding

RVRG
RVRG River Global Plc
06:01
Market

2025 Full Year Report for the year ended 30/9/25

**Summary of River Global PLCs 2025 Full Year Report:** **Financial Performance:** - **Revenue Decline:** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market con…

**Summary of River Global PLCs 2025 Full Year Report:**
**Financial Performance**
**Revenue Decline** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market conditions.
**Losses** The overall loss before taxation for the A share business interest was £13.4 million, including an £8.1 million impairment of goodwill due to the post-balance sheet disposal of River Global Holdings Limited and its subsidiaries. Excluding the goodwill write-down, the loss before taxation was £5.2 million.
**EBITDA Loss** Losses on an EBITDA basis for the A share business interest were -£2.9 million, compared to -£5.7 million in 2024, adjusted for discontinued operations and exceptionals.
**Cost Reductions** Achieved cost reductions of nearly £5 million over the year.
**Strategic Developments**
**Sale of Operating Business** Announced the sale of River Global Holdings Limited and its subsidiaries to Liontrust Asset Management PLC, considered a post-balance sheet event.
**Operational Consolidation** Successfully consolidated all funds into a single umbrella structure, delivering a single operating platform and harmonizing branding.
**New Mandates** Secured a substantial new UK small cap mandate for Phoenix Group and launched funds for Blevins Franks, boosting assets under management and industry profile.
**Performance** 69% of funds outperformed peers over one year, 88% over three years, and 67% over five years.
**B Shares (Parmenion)**
**Robust Performance** Parmenions assets increased by £2 billion to £13.1 billion, with revenue up to £50.2 million and profit to £17.5 million in 2024. EBITDA rose to £20.1 million.
**Continued Growth** As of December 31, 2025, assets under management or administration increased to over £16 billion.
**Challenges and Outlook**
**Market Headwinds** Continued outflows and challenging market conditions, including geopolitical tensions and economic uncertainties, impacted performance.
**Profitability Goal** Despite challenges, the company is focused on achieving profitability, with cost savings and operational efficiencies in place.
**Future Opportunities** The company sees potential in active asset management as market conditions evolve, with an uptick in performance and interest in some funds.
**Corporate Governance and Strategy**
**Share Reorganization** Completed a share reorganization in March 2025, aligning shareholders interests with the Groups main business interests.
**Acquisition** Acquired Devon Equity Management Limited in October 2025, integrating its team and assets into River Global.
**ESG Commitment** Committed to responsible business practices, including environmental, social, and governance (ESG) initiatives, and adherence to high standards of integrity and transparency.
**Key Financials (Consolidated)**
**Total Assets** £48.886 million (2024: £60.523 million).
**Total Liabilities** £6.439 million (2024: £7.404 million).
**Total Equity** £42.447 million (2024: £53.119 million).
**Loss for the Year** £11.238 million (2024: £2.452 million).
**Conclusion**
River Global PLC faced significant challenges in 2025 due to adverse market conditions, resulting in revenue decline and losses. However, strategic initiatives such as cost reductions, operational consolidation, and new mandates have positioned the company for potential recovery. The sale of the operating business and acquisition of Devon Equity Management Limited mark significant strategic shifts. Despite ongoing headwinds, the company remains focused on achieving profitability and enhancing its market position through active asset management and ESG commitments.
Here is a comparison of River Global PLC's financials and debt year on year, presented as an HTML table: tr> td>-49.8%
Metric20242025Change
Revenue (£m)14.412.2-15.3%
EBITDA (£m)-5.7-2.949.1% improvement
Loss before taxation (£m)-4.9-13.4175.5% increase in loss
Goodwill impairment (£m)0-8.1N/A
Assets under management (£m)2,7792,351-15.4%
Total net assets (£m)26.113.1
Cash and cash equivalents (£m)8.76.1-29.9%
Total liabilities (£m)7.46.4-13.5%
**Key Observations:** * **Revenue Decline:** Revenue decreased by 15.3% from £14.4m in 2024 to £12.2m in 2025, likely due to industry headwinds and outflows. * **EBITDA Improvement:** Despite revenue decline, EBITDA loss improved by 49.1%, indicating successful cost-cutting measures. * **Increased Loss:** The loss before taxation significantly increased due to a substantial goodwill impairment of £8.1m in 2025. * **Asset and Liability Changes:** Assets under management, total net assets, and cash equivalents all decreased, while total liabilities also decreased but at a slower rate. **Note:** This table focuses on key financial metrics. For a comprehensive understanding, refer to the full financial statements and accompanying notes.
STAN
STAN Standard Chartered PLC
06:01
Market

Transaction in Own Shares

GRX
GRX GreenX Metals Ltd.
06:01
Market

Issue of Shares

ZEG
ZEG Zegona Communications Plc
06:01
Market

Transaction in Own Shares

SDLF
SDLF Standard Life PLC
06:01
Market

2025 Annual Financial Report

FRAS
FRAS Frasers Group PLC
06:01
Market

Transaction in Own Shares

SGRO
SGRO Segro Plc
06:01
Market

DATA CENTRE UPDATE

LSAA
LSAA Life Settlement Assets PLC
06:01
Market

Share Buyback Programme

**Summary:** Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary …

**Summary**
Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary Share. The program aims to repurchase shares when it is in shareholders best interests and accretive to NAV. The company has allocated funds for the program, which will be managed by its broker, Cavendish Capital Markets Limited, within pre-set parameters. The maximum number of shares to be acquired is capped at 14.99% of the issued share capital, under authority granted by shareholders in June 2025. Repurchased shares will be cancelled, and the program’s continuation beyond June 2026 requires fresh shareholder approval. LSAA will also explore other capital return options, such as special dividends, while monitoring liquidity and policy advance costs. The company specializes in investing in life settlement policies, primarily in the U.S., to generate long-term returns for investors.
BuyBack
BUCE
BUCE Buccaneer Energy plc.
06:01
Market

Completion of Carlisle-1 Acquisition

CPP
CPP CPPGroup Plc
06:01
Market

Company Update

KEN
KEN Kendrick Resources PLC
06:01
Market

Excellent Drill Assay Results at Bonya REE project

**Summary:** Kendrick Resources Plc (LSE: KEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceed…

**Summary**
Kendrick Resources Plc (LSEKEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceeded expectations, highlighting pervasive high-grade Total Rare Earth Oxide (TREO) and Light Rare Earth Oxide (LREO) mineralization. Key highlights include
1. **High-Grade Intercepts** Drill hole TWDD001 showed notable intercepts, including 8.14 wt% TREO over 21.16 meters, with grades never dropping below 6.0 wt% and peaking at 10.7 wt% TREO.
2. **Depth Potential** The hole ended in mineralization at 6.09 wt% TREO, suggesting continued mineralization at depth.
3. **Low Radioactive Elements** Thorium and Uranium grades were minimal (0.019% and 0.000196%, respectively), indicating no penalties for REE products.
4. **Benchmarking** Teufelskuppe ranks among the top global REE projects, including operating mines, with high grades of critical elements like Praseodymium and Neodymium (Nd/Pr combined 1.00 wt%).
5. **Resource Potential** Historic surface sampling and current drilling suggest significant resource potential across the TK carbonatite landscape and the neighboring Keishohe complex.
6. **Next Steps** Kendrick plans to deploy a second rig for reconnaissance drilling and accelerate resource definition, aiming for a Preliminary Economic Assessment (PEA).
Chairman Colin Bird expressed satisfaction with the results, emphasizing the project’s potential to be among the top global REE producers. The company remains focused on expanding drilling and metallurgical work to further validate the project’s resource potential.
The provided text does not contain specific financial or debt data for Kendrick Resources Plc that can be compared year-on-year. Instead, it focuses on drilling results and project benchmarks. However, I can create a placeholder HTML table structure that you could use if such financial data were available. Below is an example of how you might structure an HTML table to compare financials and debt year-on-year: < lang="en">Kendrick Resources Plc Financials and Debt Comparison

Kendrick Resources Plc Financials and Debt Comparison

Metric202420252026Change 2025-2026
Revenue (€)10,000,00012,000,00015,000,000+25%
Net Income (€)1,000,0001,500,0002,000,000+33.33%
Total Debt (€)5,000,0004,500,0004,000,000-11.11%
Debt-to-Equity Ratio0.50.450.4-11.11%
### Explanation: - **Table Structure**: The table is structured with columns for the metric being compared (e.g., Revenue, Net Income, Total Debt, Debt-to-Equity Ratio) and rows for the years (2024, 2025, 2026). - **Placeholder Data**: Since the provided text does not contain actual financial data, placeholder values are used. In a real-world scenario, you would replace these with actual figures. - **Change Column**: The last column calculates the percentage change between 2025 and 2026 for each metric. If you have specific financial data from the text or another source, you can update the table accordingly.
HILS
HILS Hill & Smith Holdings PLC
06:01
Market

Transaction in Own Shares

DSW
DSW DSW Capital PLC
06:01
Market

Trading Update

**Summary:** DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at D…

**Summary**
DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at DR Solicitors and steady network trading, the outbreak of war with Iran has severely impacted UK M&A activity, leading to aborted or postponed deals in March—a critical month for completions. As a result, the company now expects reduced financial performance for FY26, with Total Income of £6.2m, Adjusted EBITDA of £1.6m, and Adjusted Profit Before Tax of £1.3m.
Cash reserves remain strong at £1.4m as of 28 February 2026, with net debt at £0.5m, following loan repayments and dividend payments. CEO Shru Morris emphasized the company’s strategic focus on diversification, highlighted by the successful acquisition and growth of DR Solicitors, which has reduced reliance on M&A. The company remains profitable and cash generative, with a strong pipeline of diversification opportunities. A full trading update will be announced in May 2026, in line with its usual timetable.
DSW Capital continues to pursue growth through attracting licensees, consultants, and new business, aiming to scale its agile model via organic growth, geographical expansion, and acquisitions. The company’s vision is to become a leading destination for entrepreneurial professionals, leveraging its licensing model and network synergies.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text. Since the text only provides data for FY26, I’ve structured the table to reflect the available information and left the previous year (FY25) columns empty, as no comparative data is provided.
MetricFY25FY26
Total IncomeN/A£6.2m
Adjusted EBITDAN/A£1.6m
Adjusted Profit Before TaxN/A£1.3m
Cash Reserves (as of 28 February)N/A£1.4m
Net DebtN/A£0.5m
Loan Repayment (OakNorth Bank)N/A£1.0m
Dividend Payments (Oct 2025 & Jan 2026)N/A£0.8m
### Notes: 1. **FY25 Data**: The text does not provide financial or debt data for FY25, so those cells are marked as "N/A". 2. **FY26 Data**: The table includes all available FY26 metrics mentioned in the text. 3. **Formatting**: The table is bordered and padded for readability. You can adjust the `border`, `cellpadding`, and `cellspacing` attributes as needed. Let me know if you'd like further adjustments!
TCAP
TCAP TP ICAP Group PLC
06:01
Market

Transaction in Own Shares

SYS1
SYS1 System1 Group PLC
06:01
Market

Trading Update

**Summary:** System1 Group PLC (AIM: SYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpass…

**Summary**
System1 Group PLC (AIMSYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpassing market expectations. Key points include
1. **Strong New Business Performance**Significant new business wins, especially in Q4 FY26, position the company for growth.
2. **Cost Optimisation**A restructuring plan, including organisational changes and cost efficiencies, will enhance operational leverage despite one-off costs in FY26.
3. **FY27 Outlook**Revenue forecasts align with consensus (£38.8 million), but Adjusted EBITDA is expected to materially exceed market expectations, with a margin of at least 15%.
4. **Strategic Progress**Continued success in innovation, U.S. expansion, and partnerships with top global brands drive momentum.
5. **Leadership Confidence**CEO James Gregory and Chairman Rupert Howell expressed confidence in the company’s strategy, team, and ability to deliver double-digit revenue growth and improved margins.
System1 remains focused on scaling its marketing decision-making platform, deepening client relationships, and enhancing shareholder value. Full-year results for FY26 will be announced in July 2026.
The provided text does not contain specific financial or debt data for a year-on-year comparison. However, it does mention guidance and consensus figures for FY26 and FY27. Below is an HTML table summarizing the available financial information based on the text:
MetricFY25 ActualFY26 GuidanceFY27 Consensus
Revenue (£m)37.0~37.038.8
Adjusted Profit before Taxation (£m)N/A2.0 - 2.5N/A
Adjusted EBITDA (£m)N/AN/A4.3
Adjusted EBITDA MarginN/AN/A≥15%
**Notes:** - The table includes available data from the text, such as FY25 revenue, FY26 guidance, and FY27 consensus figures. - Debt information is not provided in the text, so it is not included in the table. - Adjusted EBITDA margin for FY27 is mentioned as "no less than 15%", but specific FY26 figures are not provided. Since the text lacks detailed year-on-year financial and debt data, this table summarizes the available information. If more specific data were available, a more comprehensive comparison could be made.
GPE
GPE GREAT PORTLAND ESTATES PLC
06:01
Market

GPE sells wells&more, W1 for £172m

MPO
MPO Macau Property Opportunitie…
06:01
Market

Interim Results for period ended 31 December 2025

VLG
VLG Venture Life Group PLC
06:01
Market

Transaction in Own Shares

CCEP
CCEP Coca-Cola Europacific Partn…
06:01
Market

Transactions in Own Shares

OCI
OCI Oakley Capital Investments …
06:01
Market

Transaction in Own Shares

SRC
SRC Sigmaroc PLC
06:01
Market

Full Year Results and Notice of AGM

**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025** **Financial Performance Highlights:** - **Revenue Growth:** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower vol…

**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025**
**Financial Performance Highlights**
**Revenue Growth** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower volumes.
**EBITDA Improvement** Underlying EBITDA rose by 16.7% to £262.2 million, with a margin of 25.3%, reflecting strong cost discipline and synergy delivery.
**Profit Before Tax** Profit before tax surged by 115.9% to £98.9 million, supported by operational efficiency and cost management.
**Earnings Per Share (EPS)** Underlying EPS increased by 25.9% to 10.51p, ahead of previous guidance.
**Free Cash Flow (FCF)** FCF grew by 18.4% to £133.8 million, with a conversion rate of 51%.
**Net Debt Reduction** Net debt decreased by 7.3% to £472.4 million, with covenant leverage improving to 1.8x.
**Operational and Strategic Achievements**
**Synergy Program** Achieved minimum target of €40 million in recurring synergies two years ahead of schedule, lifting EBITDA and offsetting volume-related losses.
**Divestments** Completed the sale of three non-core businesses for £18 million, optimizing the portfolio.
**Refinancing** Secured a new financing facility of up to €825 million on investment-grade terms, enhancing financial flexibility.
**Ventures** SkreenHouse, the venture arm, reviewed over 250 projects and made 8 investments in innovative construction technologies.
**Sustainability** Maintained CDP Climate Change rating of B and improved Water Security rating to B. Progressed decarbonization initiatives, including kiln conversions and increased use of renewable energy.
**Market and Outlook**
**Market Conditions** Core volumes were down 3% due to softer construction and steel markets, but there are encouraging signs of recovery in several regions.
**Structural Trends** Expected benefits from the German infrastructure stimulus, improving steel industry conditions, and increased defense spending.
**Residential Market** Housing remains at cyclical lows, but a significant shortfall in European housing stock suggests potential future demand.
**Growth Opportunities** Data center, AI, and green economy investments provide additional opportunities for the construction materials segment.
**Governance and Investor Engagement**
**Capital Markets Day** Successfully held the inaugural event, outlining the 5-year plan and engaging with over 70% of shareholders.
**Board Stability** Maintained a stable and engaged board, with full attendance and active participation in governance and investor activities.
**Strategic Advisory Board** Established to focus on long-term strategic direction.
**Future Priorities**
**Safety and Operations** Improve safety and operating standards across all sites.
**Margin Protection** Strengthen margins through cost and capital discipline.
**Growth Conversion** Convert improving infrastructure and industrial demand into profitable growth.
**Selective Growth** Pursue organic and acquisitive growth where long-term returns are compelling.
**Conclusion**
SigmaRoc PLC delivered a strong financial performance in 2025, marked by significant improvements in profitability, cash flow, and operational efficiency. The company is well-positioned to capitalize on emerging structural trends in Europe, supported by a diversified portfolio, strategic divestments, and a focus on sustainability. The board remains optimistic about the future, with clear priorities to drive further growth and value creation.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2024 (£m)2025 (£m)YoY Change
Revenue997.61,035.9+3.8%
EBITDA224.6262.2+16.7%
Profit before tax117.6154.0+31.0%
Net debt509.5472.4-7.3%
Covenant Leverage (x)2.091.80-13.9%
**Key Observations:** * **Revenue Growth:** Revenue increased by 3.8% year-on-year, driven by pricing and mix benefits. * **Improved Profitability:** EBITDA and profit before tax showed significant growth of 16.7% and 31.0% respectively, indicating improved operational efficiency and cost management. * **Debt Reduction:** Net debt decreased by 7.3%, and covenant leverage improved by 13.9%, reflecting stronger cash flow and financial discipline.
ORR
ORR Oriole Resources PLC
06:01
Market

Final drilling results from MB01-N

PLUS
PLUS Plus500 Ltd
06:01
Market

Transaction in Own Shares

MSLH
MSLH Marshalls PLC
06:01
Market

Final Results

**Summary of Marshalls PLC Final Results for the Year Ended 31 December 2025** **Financial Performance:** - **Revenue Growth:** Marshalls PLC reported a 2% increase in revenue to £632.1 million, driven by growth in Building and Roofing Pr…

**Summary of Marshalls PLC Final Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Marshalls PLC reported a 2% increase in revenue to £632.1 million, driven by growth in Building and Roofing Products, partially offset by a 1% decline in Landscaping Products.
**Adjusted Profit Before Tax** Adjusted profit before tax decreased by 16% to £43.7 million, in line with market expectations, due to lower profitability in Landscaping Products and increased costs.
**Dividend** The proposed final dividend is 4.5 pence per share, resulting in a total dividend of 6.7 pence, down 16% due to weaker profitability.
**Operational Highlights**
**Landscaping Products** Despite a 1% revenue decline, the segment saw 4% volume growth, outperforming a flat market. The company implemented a performance improvement plan, including cost savings of £11 million by 2026, and reduced portfolio complexity.
**Building Products** Revenue grew by 4%, with strong performances in Water Management and Mortars. Strategic growth initiatives in Water Management are progressing well.
**Roofing Products** Revenue increased by 4%, with Viridian Solar achieving 32% growth, benefiting from new build energy efficiency regulations.
**Strategic Initiatives**
**Transform & Grow Strategy** The company is intensifying the execution of its strategy, focusing on margin improvement, cash generation, and service enhancement. This includes selective activity, organizational focus on delivery, and strengthened commercial discipline.
**Cost Savings** On track to deliver £11 million in annualized cost savings by the end of 2026, with £3 million realized in 2025.
**Market Position** Strengthened customer relationships and market share gains, particularly in Landscaping Products, despite subdued end markets.
**Financial Position**
**Balance Sheet** Robust balance sheet with pre-IFRS 16 net debt of £137.9 million and leverage of 1.8 times adjusted EBITDA.
**Cash Flow** Adjusted operating cash flow conversion of 88%, reflecting disciplined working capital management.
**Refinancing** Successfully refinanced the £270 million facility in November, maintaining commercial terms and providing flexibility for strategic execution.
**Outlook**
**Market Conditions** Market activity levels in early 2026 remained consistent with late 2025, impacted by persistent rainfall.
**Strategic Focus** Priority is on disciplined implementation of the Transform & Grow strategy, with a focus on margin, cash, and service improvements.
**Profitability** The Board is confident of driving a material increase in profitability and returns over the medium term, despite ongoing macroeconomic uncertainties.
**CEO Commentary**
Simon Bourne, CEO, emphasized decisive actions to strengthen Marshalls foundations, returning the company to revenue growth and delivering adjusted profit before tax in line with guidance. He highlighted progress in Landscaping Products improvement plan and the positioning of Roofing and Building Products to capture regulatory and infrastructure-led demand. The focus remains on disciplined execution to achieve sustainable, profitable growth.
**ESG Progress**
**Carbon Leadership** Progress on net-zero targets, validated by the Science Based Targets initiative (SBTi), with a focus on carbon reduction and improved ESG reporting.
**Climate Adaptation** Water management and drainage solutions play a key role in improving flood resilience and water handling.
**Responsible Business Practices** Continued focus on human rights due diligence and supplier improvement programs, especially in high-growth international supply chains.
**Conclusion**
Marshalls PLC demonstrated resilience in 2025, achieving revenue growth and adjusted profit before tax in line with expectations, despite challenging market conditions. The companys strategic initiatives, cost discipline, and focus on sustainable growth position it well for medium-term profitability and returns.
Here is the HTML table code comparing the financials and debt year on year for Marshalls PLC:
Metric2025 (£'M)2024 (£'M)Change
Revenue632.1619.22%
Adjusted EBITDA85.097.8(13%)
Adjusted Operating Profit56.466.7(15%)
Adjusted Profit Before Tax43.752.2(16%)
Pre-IFRS 16 Net Debt137.9133.93%

Key Observations:

  • Revenue increased by 2% year on year, from £619.2M in 2024 to £632.1M in 2025.
  • Adjusted EBITDA decreased by 13%, from £97.8M in 2024 to £85.0M in 2025.
  • Adjusted Operating Profit decreased by 15%, from £66.7M in 2024 to £56.4M in 2025.
  • Adjusted Profit Before Tax decreased by 16%, from £52.2M in 2024 to £43.7M in 2025.
  • Pre-IFRS 16 Net Debt increased by 3%, from £133.9M in 2024 to £137.9M in 2025.
This table provides a clear comparison of the key financial metrics and debt levels for Marshalls PLC between 2024 and 2025. The observations highlight the changes in each metric, showing a mixed performance with revenue growth but declines in profitability and an increase in net debt.
AVCT
AVCT Avacta Group PLC
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Market

Phase 1 study opening for AVA6103

FCIT
FCIT F&C Investment Trust PLC
06:01
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Annual Financial Report

BKS
BKS Beeks Trading Corporation L…
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Market

Interim Results

**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):** **Financial Highlights:** - **Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting str…

**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):**
**Financial Highlights**
**Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting strong recurring revenue growth.
**New Contracts** Total Contract Value (TCV) of new contracts signed rose by 23% to £11.9 million (H1 FY25: £9.7 million), driven by high demand across all offerings.
**Revenue and Profitability** Revenues slightly declined to £14.65 million (H1 2025: £15.79 million) due to contract timing and the shift to a revenue share model for Exchange Cloud. Gross profit fell to £4.50 million (H1 2025: £6.03 million), and underlying EBITDA decreased to £4.12 million (H1 2025: £5.74 million). Underlying profit before tax turned to a loss of £0.69 million (H1 2025: £1.89 million profit), but strong profit progression is expected in H2 as contracts deploy and revenue recognition commences.
**Cash Position** Gross cash remained stable at £6.96 million, with net cash at £3.29 million (H1 2025: £6.57 million) after upfront investments to support contract wins.
**Operational Highlights**
**Commercial Momentum** Secured £6 million TCV of Proximity Cloud contracts in December 2025, with revenue recognition largely starting in H2.
**Exchange Cloud** Signed two new contracts (TMX Group and nuam) under the revenue share model, bringing the total to seven exchanges signed, with four on the revenue share model. Live deployments are transitioning to profitability ahead of expectations.
**Market Edge Intelligence™** Launched an AI-powered analytics platform, with a proof-of-concept customer (a major global bank) now in contractual discussions.
**Customer Base** Supports over 30 Tier-1 banks and investment managers, with significant expansion opportunities.
**Outlook**
**H2 FY26 Revenue** Expected to be supported by £4.5 million in revenue recognition from H1 contract wins, remaining deployment of the Grupo Bolsa Mexicana (BMV) DR site, and go-live of two Exchange Cloud contracts.
**Pipeline** Multiple significant contracts in discussion across all offerings, with the Board confident in full-year performance in line with expectations.
**Long-Term Growth** Significant addressable opportunity with limited competition, positioning the company for considerable long-term growth.
**CEO’s Commentary (Gordon McArthur)**
Highlighted strong commercial momentum and a robust customer base with expansion potential. Emphasized that while H1 financial performance was impacted by contract timing and revenue share models, it lays the foundation for significant profitable growth in the future.
**CFO’s Commentary (Fraser McDonald)**
Noted the impact of contract timing and revenue share models on H1 financials but stressed the strengthening recurring revenue base and expected H2 profitability. Highlighted continued investment in infrastructure and product development, with a focus on efficient capital allocation and margin improvement.
**Key Metrics**
**ACMRR Growth** 15% to £32.80 million.
**TCV Growth** 23% to £11.9 million.
**Revenue Decline** 7% to £14.65 million.
**Gross Profit Decline** 25% to £4.50 million.
**Underlying EBITDA Decline** 28% to £4.12 million.
**Underlying Loss Before Tax** £0.69 million (H1 2025: £1.89 million profit).
**Conclusion**
Beeks Financial Cloud Group PLC demonstrated strong commercial progress in H1 FY26, despite short-term financial headwinds due to contract timing and revenue model transitions. The company is well-positioned for significant revenue and profit growth in H2 and beyond, supported by a robust pipeline, expanding customer base, and innovative product offerings.
Here is the HTML table code comparing the financials and debt year on year for Beeks Financial Cloud Group PLC:
MetricH1 2026H1 2025Change
Revenue (£'000)14,65315,794(7%)
Gross Profit (£'000)4,5006,028(25%)
Underlying EBITDA (£'000)4,1205,740(28%)
Underlying (Loss)/Profit Before Tax (£'000)(690)1,890(136%)
Statutory (Loss)/Profit Before Tax (£'000)(1,868)461(506%)
Net Cash (£'000)3,2906,570(50%)
Gross Debt (£'000)8,5991,953340%
Net Debt (£'000)(1,641)5,378(131%)
**Notes:** * The table compares key financial metrics and debt figures for H1 2026 and H1 2025. * The "Change" column shows the percentage change between the two periods. * The data is extracted from the provided text, which includes the company's interim results announcement. * The table focuses on the most relevant financial and debt metrics, providing a snapshot of the company's performance and financial position year on year.
ATT
ATT Allianz Technology Trust PLC
06:01
Market

Final Results

**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025** **Overview** Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increa…

**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025**
**Overview**
Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increase in Net Asset Value (NAV), outperforming its benchmark, the Dow Jones World Technology Index, which rose by **20.0%**. This represents a **4.7 percentage point outperformance**. The share price total return was slightly higher at **25.8%**, supported by a narrowing discount to NAV.
**Key Highlights**
1. **Performance**ATT’s differentiated strategy, focusing on mid- and large-cap technology companies rather than solely on the largest firms, drove its outperformance. Holdings in companies like Micron Technology, Lam Research, and Robinhood Markets contributed significantly to the results.
2. **Portfolio Strategy**The Trust avoided over-concentration in the "Magnificent 7" mega-cap tech companies, instead diversifying into smaller firms with strong growth potential. This approach mitigated risks associated with passive index replication.
3. **Discount Management**The discount to NAV narrowed from **8.6%** at the end of 2024 to **7.8%** in 2025. The Board continued its share buyback program, repurchasing **26,088,876 shares** for **£124.99 million** during the year, with further buybacks post-year-end.
4. **Awards**ATT was named **2025 Investment Company of the Year** in the Technology category by Investment Week, recognizing its strong three-year performance and strategic differentiation.
5. **Geopolitical Context**Despite global uncertainties, including trade tariffs, the Ukraine war, and Middle East tensions, technology demand remained robust, supporting the sector’s growth.
6. **Costs**The Ongoing Charges Figure (OCF) decreased marginally to **0.62%**, maintaining ATT’s position as the lowest-cost trust in its AIC peer group.
**Portfolio Insights**
**Top Holdings**NVIDIA, Alphabet, Microsoft, Apple, and Broadcom were the largest holdings, collectively representing **62.3%** of the portfolio.
**Sector Focus**Semiconductors and semiconductor equipment accounted for **32.5%** of the portfolio, delivering an average return of **45.6%**.
**New Additions**Robinhood Markets was a notable new addition, contributing **1 percentage point** to relative performance.
**Outlook**
The Trust anticipates ongoing volatility due to geopolitical tensions and market dynamics, particularly around AI valuations. However, the long-term growth prospects for technology remain strong, supported by innovation and increasing demand. ATT’s active management approach, combined with its focus on diversification and risk mitigation, positions it well to navigate these challenges.
**Governance and Future Plans**
The Board will seek authority at the **2026 AGM** to buy back up to **14.99%** of issued shares.
Shareholders will vote on the continuation of the Trust, with the Board strongly recommending approval given ATT’s strong performance and strategic positioning.
**Conclusion**
Allianz Technology Trust PLC demonstrated resilience and strong performance in 2025, outperforming its benchmark through a differentiated and actively managed portfolio. Despite global uncertainties, the Trust remains well-positioned to capitalize on the long-term growth opportunities in the technology sector.
Here’s an HTML table comparing the financials and debt year-on-year for Allianz Technology Trust PLC based on the provided text:
Metric20242025Change
Net Asset Value (NAV) Return+35.6%+24.7%-10.9%
Share Price Total ReturnN/A+25.8%N/A
Benchmark (Dow Jones World Technology Index) ReturnN/A+20.0%N/A
Outperformance vs. BenchmarkN/A+4.7%N/A
Discount to NAV8.6%7.8%-0.8%
Shares Repurchased (Number)26,088,87626,088,8760
Shares Repurchased (Value)£124,993,000£124,993,0000
Ongoing Charges Figure (OCF)0.64%0.62%-0.02%
Profit (Loss) on Ordinary Activities (£'000s)460,066406,981-53,085
Net Assets (£'000s)1,746,8672,028,855+281,988
Net Asset Value per Ordinary Share (pence)458.6p571.7p+113.1p
### Notes: 1. **Net Asset Value (NAV) Return**: The return on NAV decreased from +35.6% in 2024 to +24.7% in 2025. 2. **Share Price Total Return**: Only available for 2025, showing a +25.8% return. 3. **Benchmark Return**: The benchmark return for 2025 was +20.0%. 4. **Outperformance vs. Benchmark**: The trust outperformed the benchmark by +4.7% in 2025. 5. **Discount to NAV**: The discount narrowed from 8.6% in 2024 to 7.8% in 2025. 6. **Shares Repurchased**: The number and value of shares repurchased remained the same in both years. 7. **Ongoing Charges Figure (OCF)**: The OCF decreased slightly from 0.64% to 0.62%. 8. **Profit (Loss) on Ordinary Activities**: Profit decreased by £53,085,000 from 2024 to 2025. 9. **Net Assets**: Net assets increased by £281,988,000 from 2024 to 2025. 10. **Net Asset Value per Ordinary Share**: NAV per share increased by 113.1p from 2024 to 2025. This table provides a clear comparison of key financial metrics between 2024 and 2025 for Allianz Technology Trust PLC.
TRST
TRST Trustpilot Group PLC
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Transaction in Own Shares

GFTU
GFTU Grafton Group plc
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CRE Conduit Holdings Ltd
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KETL
KETL Strix Group Plc
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VOD Vodafone Group PLC
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PSON
PSON Pearson PLC
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VNH VietNam Holding Limited
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TENG
TENG Ten Lifestyle Group PLC
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H1 2026 Trading Update

**Summary: Ten Lifestyle Group PLC H1 2026 Trading Update** Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include: …

**SummaryTen Lifestyle Group PLC H1 2026 Trading Update**
Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include
**Financial Growth**Net Revenue increased by 6% year-on-year (YoY) to £33.7m (9% at constant currency), while Adjusted EBITDA rose by 16% YoY to £7.0m (28% at constant currency). Adjusted EBITDA margin improved to 20.7% from 18.9% in H1 2025.
**Membership Growth**Active Members grew by 23% YoY to 436,000, driven by higher engagement with the digital platform.
**Cash Position**Net cash increased to £9.3m, supported by a new £5.0m revolving credit facility with NatWest, replacing higher-cost loan notes.
**Strategic Wins**Launched the Ten Digital Platform with a leading UK bank and secured a digitally enabled concierge contract with a global technology company, expanding into a new customer segment. Additional contracts were won in Europe and AMEA, set to launch in H2 2026.
**Technology Investment**Continued investment in the digital platform to enhance customer experience, efficiency, scalability, and service quality.
**Outlook**The Group remains on track to meet full-year market expectations, with new contracts supporting growth into FY 2027.
CEO Alex Cheatle emphasized the Group’s strengthened market position and commitment to delivering "better than the internet" customer experiences, driving contract wins and operational improvements. Ten Lifestyle Group remains focused on its mission to become the most trusted service platform globally, underpinned by its B Corp certification and sustainable business practices.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricH1 2026H1 2025Change (%)Change at Constant Currency (%)
Net Revenue (£m)33.731.8+6%+9%
Adjusted EBITDA (£m)7.06.0+16%+28%
Adjusted EBITDA Margin (%)20.718.9+1.8pps-
Active Members (k)436354+23%-
Net Cash (£m)9.36.8+37%-
Debt (Loan Notes Repaid) (£m)00.8-100%-
Revolving Credit Facility (£m)5.00New Facility-
### Key Notes: 1. **Net Revenue** and **Adjusted EBITDA** are compared year-on-year, including both reported and constant currency figures. 2. **Adjusted EBITDA Margin** is presented as a percentage point change (pps). 3. **Active Members** and **Net Cash** are compared directly year-on-year. 4. **Debt** includes the repayment of loan notes and the new revolving credit facility secured in H1 2026. 5. The table is structured for clarity, with metrics, values, and changes presented in a clean format.
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PRU Prudential plc
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BATS British American Tobacco PLC
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NCC NCC Group plc
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KYGA Kerry Group
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KLR Keller Group PLC
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VINO Virgin Wines UK PLC
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SAG Science Group plc
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HSW Hostelworld Group PLC
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**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):** **Overview:** VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period fr…

**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):**
**Overview**
VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period from July 1, 2025, to December 31, 2025. The report highlights the funds performance, investment strategy, and outlook for the Vietnamese market.
**Financial Performance**
**Net Asset Value (NAV) per share** Increased by 11.9% to USD 7.97, resulting in a total return of 12.8% in USD terms.
**Share Price** Increased by 10.3% on a USD total return basis.
**Dividend** Paid 7.25 US cents per share in December 2025, with the next dividend of the same amount payable on May 6, 2026.
**Investment Strategy and Portfolio**
**Benchmark Agnostic** VOF does not follow a specific index but notes the strong performance of the VN Index (up 29.8%) driven by Vingroup (VIC), which the fund does not hold due to valuation and transparency concerns.
**Portfolio Repositioning** The fund actively repositioned its portfolio, trimming long-term holdings and reinvesting in new opportunities, adding 4.4% to the calendar year return.
**Private Investments** Progress was made in distressed privately negotiated investments, including restructuring the holding in Dat Xanh Real Estate Services (DXS) into listed shares in Dat Xanh Group (DXG), resulting in a USD 6.7 million uplift.
**Sector Focus** Key sectors include Financials (29.9% of NAV), Real Estate (25.4%), Industrials (17.4%), and Consumer (24.2%).
**Market and Economic Outlook**
**Vietnamese Economy** Expected to grow over 8% in 2026, driven by infrastructure development and real estate market stimulation.
**Challenges** Potential impact of Middle East tensions on inflation and interest rates, and the need for continued economic reforms.
**Investment Opportunities** The fund sees opportunities in both public and private markets, particularly as Vietnam moves towards Emerging Market status, which should improve market liquidity and breadth.
**Corporate Actions and Governance**
**Board Changes** Charlotta Ginman took over as Chair of the Audit Committee and Management Engagement Committee. Julian Healy remains on the Board focusing on private equity investments.
**Share Repurchase Program** 7.0 million shares were bought back at a cost of USD 44.3 million, helping to control the discount and increase NAV.
**Management Fees** The Board is reviewing management fees to align them more closely with market levels.
**Conclusion**
VOF remains optimistic about the Vietnamese market, despite short-term challenges. The funds strategy focuses on identifying undervalued opportunities in both listed and private markets, leveraging its expertise in privately negotiated investments. The Board and Investment Manager are committed to enhancing shareholder value through active portfolio management, dividend payments, and strategic corporate actions.
Here is a comparison of the financials and debt year on year for VinaCapital Vietnam Opportunity Fund Limited, presented as an HTML table:
Metric2024 (Year ended 30 June)2025 (Six months ended 31 December)
Total Assets (USD'000)965,9921,060,755
Total Liabilities (USD'000)1,82138,466
Shareholders' Equity (USD'000)964,1711,022,289
Net Asset Value (NAV) per share (USD)7.137.97
Profit for the period (USD'000)25,824111,640
Earnings per share (USD)0.170.85
Dividends paid (USD'000)10,6579,470
Dividend per share (USD)0.07250.0725
Loans and other borrowings (USD'000)025,000
**Key Observations:** - **Total Assets**: Increased by 9.8% from USD 965,992 in 2024 to USD 1,060,755 in 2025. - **Total Liabilities**: Increased significantly from USD 1,821 in 2024 to USD 38,466 in 2025, primarily due to the new loan facility of USD 25,000. - **Shareholders' Equity**: Increased by 6.0% from USD 964,171 in 2024 to USD 1,022,289 in 2025. - **NAV per share**: Increased by 11.8% from USD 7.13 in 2024 to USD 7.97 in 2025. - **Profit for the period**: Increased significantly from USD 25,824 in 2024 to USD 111,640 in 2025. - **Earnings per share**: Increased from USD 0.17 in 2024 to USD 0.85 in 2025. - **Dividends paid**: Decreased slightly from USD 10,657 in 2024 to USD 9,470 in 2025, but the dividend per share remained the same at USD 0.0725. - **Loans and other borrowings**: Increased from USD 0 in 2024 to USD 25,000 in 2025 due to the new revolving credit facility. This table provides a concise comparison of key financial metrics and debt levels between the year ended 30 June 2024 and the six months ended 31 December 2025 for VinaCapital Vietnam Opportunity Fund Limited.
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GYM The GYM Group PLC
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RSG Resolute Mining Limited
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ACRM Acuity RM Group Plc
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Product Launch

**Summary:** Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk man…

**Summary**
Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk management platform. This product is the culmination of the NextGen STREAM® programme, initially announced in June 2025, and addresses quality issues identified during its initial rollout by undergoing comprehensive redevelopment and <mark style="background-color:yellow">test</mark>ing.
**STREAM® Cloud** offers enhanced configurability, usability, and AI-readiness, targeting mid-market organizations at the early-to-intermediate stage of cyber risk management. Key features include rapid deployment, guided workflows, risk lifecycle management, simplified reporting, and pre-configured content aligned with industry standards. Delivered as a SaaS solution on Microsoft Azure, it provides a lower entry price point and a clear upgrade pathway to **STREAM® Classic** for customers with evolving needs.
The launch aims to capitalize on increasing regulatory demands (e.g., NIS2, DORA, UK Cyber Security and Resilience Bill) and growing board-level interest in structured cyber risk reporting. CEO David Rajakovich emphasized the product’s role in broadening the company’s market reach, accelerating customer acquisition, and driving recurring revenue growth. **STREAM® Cloud** complements the existing **STREAM® Classic** platform, which serves enterprise-level clients with complex GRC needs.
This launch aligns with Acuity RM Group’s strategy to deliver sustainable growth through organic expansion and acquisitions, positioning the company to address a wider market while maintaining its focus on high-demand sectors like government, defense, and regulated industries.
Launch
PSH
PSH Pershing Square Holdings Ltd
06:01
Market

Transaction in Own Shares

EDV
EDV Endeavour Mining Corp
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['BlackRock, Inc.', '13.040000', '13.010000']
NBPE
NBPE NB Private Equity Partners …
06:01
Market

NBPE Announces Transaction in Own Shares

EDV
EDV Endeavour Mining Corp
05:31
Market

Transaction in Own Shares

Digested News

The ticker catalyst tape is rendered as native mobile cards. Articles and ticker links stay clickable.

VTY logo VTY

Director/PDMR Shareholding

Vistry Group PLC

<mark style="background-coloryellow">Purchase</mark> of shares by the Trustee of the Vistry Group PLC Share Incentive Plan (the "Plan"). This is a continuing membership in the Plan which is funded via deductions from salary each month.
TSCO logo TSCO

Director/PDMR Shareholding

Tesco PLC

<mark style="background-coloryellow">Purchase</mark> of shares under the Tesco PLC Share Incentive Plan (the "SIP")
USA logo USA

Holding(s) in Company

Baillie Gifford US Growth Trust PLC

TR1 Buy
['Bank of America Corporation', '2.845697', '3.119707']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['Glazer Capital, LLC', '0.591321', 0]
WTE logo WTE

Holding(s) in Company

Westmount Energy Limited

TR1 Buy
['Bank of America Corporation', '2.845697', '3.119707']
IPF logo IPF

Form 8.3

International Personal Finance PLC

IPF logo IPF

Form 8.3

International Personal Finance PLC

SDLF logo SDLF

Director/PDMR Shareholding

Standard Life PLC

Full details of the share <mark style="background-color:yellow">purchase</mark> are set out below.
HTWS logo HTWS

Director/PDMR Shareholding

Helios Towers Plc

The following notification made under Article 19(1) of the UK Market Abuse Regulation ("UK MAR") relates to the <mark style="background-color:yellow">purchase</mark> of Company shares on behalf of a PDMR, and a conditional award to another PDMR to receive shares, in both cases to satisfy the deferred portion of the annual bonus in respect of the financial year ended 31 December 2025. This announcement is made in accordance with Article 19(3) of UK MAR.
AA4 logo AA4

Form 8.3

Amedeo Air Four Plus Limited

IPF logo IPF

Form 8.3

International Personal Finance PLC

PCT logo PCT

Director/PDMR Shareholding

Polar Capital Technology Trust

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
HBR logo HBR

Holding(s) in Company

Harbour Energy PLC

TR1 Buy
['EIG Global Energy Partners, LLC', '3.754476', '7.552607']
THR logo THR

Half-year Report for the 6 months ending 31 Dec 25

Thor Mining PLC

**Summary of Thor Energy PLCs Half-Year Report for the 6 Months Ending 31 December 2025**
Thor Energy PLC, a company focused on hydrogen, helium, and energy metals exploration, released its half-year report for the period ending 31 December 2025. The report highlights the companys strategic focus on portfolio rationalization, exploration advancements, and financial performance.
**Key Highlights**
1. **Portfolio Rationalization and Exploration:**
The company prioritized de-risking its asset portfolio and advancing its HY-Range natural hydrogen and helium project in South Australia.
Field activities at HY-Range confirmed the presence of working hydrogen and helium systems, with seismic planning underway for mid-2026 data acquisition.
2. **Board Changes**
Andrew Hume assumed the expanded role of Managing Director and CEO, allowing Alastair Clayton to transition to a Non-Executive Chairman role.
3. **Asset Sales and Farm-outs**
Thor Energy sold its 75% holding in the Molyhil tungsten-molybdenum project to Tivan Limited, generating significant cash inflows and eliminating the need for capital raising.
The company farmed down its US uranium projects to Metals One PLC, retaining a 25% stake free of holding and administration costs.
4. **Financial Performance**
The company reported a loss before taxation of £1,255,000 for the half-year, with net cash outflows of £473,000 from operating activities.
As of 31 December 2025Thor Energy had £787000 in cash and cash equivalents.
5. **Going Concern**
The report highlights a material uncertainty regarding the companys ability to continue as a going concern, dependent on successful asset sales or capital raising.
6. **Post-Balance Sheet Events**
Thor Energy received a A$2,250,000 (£1,125,000) cash completion payment for the Molyhil project sale in January 2026.
The company was awarded two Regulated Substance Exploration Licence Applications in South Australia in February 2026.
**Financial Summary**
**Loss before taxation:** £1255000
**Net cash outflows from operating activities:** £473,000
**Cash and cash equivalents:** £787000 (as of 31 December 2025)
**Conclusion**
Thor Energy PLCs half-year report reflects a strategic focus on portfolio optimization, exploration advancements, and financial management. While the company faces challenges related to its going concern status, recent asset sales and cash inflows provide a measure of financial stability. The companys continued focus on hydrogen, helium, and energy metals exploration positions it for potential growth in these emerging sectors.
Here’s an HTML table comparing the financials and debt year-on-year for Thor Energy PLC based on the provided text:
Metric6 Months Ended 31 Dec 20256 Months Ended 31 Dec 2024Year Ended 30 Jun 2025
Operating Loss (£'000)(553)(437)(5,993)
Loss Before Taxation (£'000)(1,255)(533)(7,441)
Loss for the Period (£'000)(1,255)(533)(7,441)
Total Comprehensive Loss (£'000)(1,250)(1,185)(8,280)
Net Assets (£'000)8,12112,8179,227
Cash and Cash Equivalents (£'000)7871,091686
Total Current Liabilities (£'000)(274)(483)(208)
Total Equity (£'000)8,12112,8179,227
Net Cash from Operating Activities (£'000)(475)(342)(900)
Net Cash from Investing Activities (£'000)608(61)(87)
Net Cash from Financing Activities (£'000)(10)738918
### Key Observations: 1. **Operating Loss**: Increased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but significantly lower than the full year ended 30 Jun 2025. 2. **Loss Before Taxation**: Higher in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but lower than the full year ended 30 Jun 2025. 3. **Net Assets**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but slightly higher than the full year ended 30 Jun 2025. 4. **Cash and Cash Equivalents**: Lower in the 6 months ended 31 Dec 2025 compared to the same period in 2024 but higher than the full year ended 30 Jun 2025. 5. **Total Current Liabilities**: Decreased in the 6 months ended 31 Dec 2025 compared to the same period in 2024 and the full year ended 30 Jun 2025. 6. **Net Cash Flows**: Negative cash flow from operating activities in all periods, with positive cash flow from investing activities in the 6 months ended 31 Dec 2025 due to asset sales. This table provides a concise comparison of key financial metrics year-on-year, highlighting trends and changes in Thor Energy PLC's financial position.
BIRG logo BIRG

Holding(s) in Company

Bank of Ireland Group PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Pzena Investment Management, LLC', 'Less than 3', '3.02']
BIRG logo BIRG

Holding(s) in Company

Bank of Ireland Group PLC

TR1 Buy
['Massachusetts Financial Services Company', '6.93', '7.76']
IPF logo IPF

Form 8.3

International Personal Finance PLC

GMET logo GMET

Launch of Roadshow for US Initial Public Offering

Guardian Metal Resources PLC

**Summary**
Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL."
Key details of the offering include
**Offering Size** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM).
**Underwriters Option** A 45-day option for underwriters to purchase up to an additional 15% of the offering size.
**Use of Proceeds** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes.
**Underwriters** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers).
The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.
Launch
FORT logo FORT

Launch of £20m Share Buyback Programme

Forterra PLC

**Summary**
Forterra plc, a leading UK manufacturer of clay and concrete building products, announced the launch of a £20 million share buyback programme on March 16, 2026. The programme, initially disclosed in the companys 2025 full-year results, aims to purchase and cancel ordinary shares of 1 pence each, thereby reducing the companys share capital.
The buyback will be executed in two tranches: the first tranche of £10 million will begin immediately, managed by Joint Corporate Broker Investec Bank plc, acting as a riskless principal. The second tranche will follow upon completion of the first and is expected to conclude by December 31, 2026, subject to market conditions. The total number of shares to be purchased is capped at 21,280,338, as authorized by shareholders at the 2025 Annual General Meeting.
Purchases will occur in open market transactions, adhering to UK regulatory requirements, including the Financial Conduct Authoritys Listing Rules and EU regulations as part of UK domestic law. Transactions will be announced within seven market sessions of their occurrence. Forterras CEO Neil Ash and CFO Ben Guyatt are key contacts for inquiries.
Launch
0MGE logo 0MGE

AL Sydbank A/S share buyback programme: transactions in week 11

Sydbank

**Summary**
AL Sydbank A/S announced the transactions for week 11 (March 10–13, 2026) of its ongoing share buyback programme, which began on March 2, 2026, and is set to conclude by January 31, 2027. The programme, valued at DKK 1,100 million, aims to reduce the banks share capital while adhering to EU Safe Harbour regulations (Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/1052).
During week 11, AL Sydbank repurchased 72,000 shares at a total gross value of DKK 37,930,500. The transactions were executed by Danske Bank A/S under ISIN DK 0010311471. Since the programmes inception, the bank has accumulated 139,000 shares, totaling DKK 73,959,120.
Following these transactions, AL Sydbank holds 140,474 own shares, representing 0.16% of its share capital. Further details are available in the attached document, in compliance with EU market abuse regulations.
**Key Points**
Share buyback programme: DKK 1100m (up to 4500000 shares).
Week 11 transactions: 72000 sharesDKK 37930500.
Total accumulated: 139000 sharesDKK 73959120.
Own shares held: 140474 (0.16% of share capital).
Executed by Danske Bank A/S under EU Safe Harbour rules.
BuyBack
CPI logo CPI

Director/PDMR Shareholding

Capita PLC

<mark style="background-coloryellow">Purchase</mark> of shares by Adolfo Hernandez, Chief Executive Officer
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '1.811638', 'Below Minimum Threshold']
CABP logo CABP

RESPONSE TO POSSIBLE OFFER ANNOUNCEMENT

CAB Payments Holdings Ltd

**Summary**
CAB Payments Holdings PLC has issued a response to a possible offer announcement by StoneX Group Inc. On March 15, 2026, CAB Payments received an unsolicited, non-binding proposal from StoneX for a potential acquisition of the entire issued and to-be-issued share capital of CAB Payments at 95 pence per share in cash. The proposal is subject to several pre-conditions outlined in the StoneX announcement.
The Independent Board of CAB Payments (excluding Henry Obi and Nitin Kaul) is currently evaluating the offer with financial and legal advisors. They emphasize the companys improved financial and operational performance in FY25 and its strategic guidance provided to the market on March 5, 2026. The Board remains confident in delivering attractive returns to shareholders, supported by its relationship-led approach to winning and retaining clients.
There is no certainty that StoneX will proceed with a formal offer or its terms. CAB Payments shareholders are advised to take no action at this time. The Takeover Panel will set a deadline for StoneX to either announce a firm intention to make an offer or confirm it does not intend to proceed.
The announcement includes standard legal disclaimers, regulatory notices, and contact details for CAB Payments and its advisors. It also outlines disclosure requirements under the City Code on Takeovers and Mergers for parties interested in 1% or more of relevant securities.
Offers
HCM logo HCM

Vesting of awards under Long Term Incentive Plan

HUTCHMED China Ltd

**Summary**
HUTCHMED (China) Limited announced the vesting of non-performance-based awards under its Long Term Incentive Plan (LTIP) on March 13, 2026. Dr. Weiguo Su, the companys Executive Director, Chief Executive Officer, and Chief Scientific Officer, received 19,913 ordinary shares as part of this vesting. The awards were initially granted on March 13, 2024. This notification complies with the UK Market Abuse Regulation and includes details about the transaction, the issuer, and the person discharging managerial responsibilities.
HUTCHMED is an innovative biopharmaceutical company focused on developing and commercializing targeted therapies and immunotherapies for cancer and immunological diseases. The company has successfully brought three medicines to market in China, with one also approved globally in regions including the US, Europe, and Japan. Contact information for investor and media enquiries, as well as details about the companys brokers, is provided. The announcement was released via RNS, the news service of the London Stock Exchange, on March 16, 2026.
Awards
BYIT logo BYIT

Holding(s) in Company

Bytes Technology Ltd

<mark style="background-coloryellow">TR1</mark> Buy
['JPMorgan Chase & Co.', '0.117695', 'Below Minimum Threshold']
0RPR logo 0RPR

Share buyback programme – week 11

Ringkjoebing Landbobank A/S

**Summary of Ringkjøbing Landbobank A/S Share Buyback Programme – Week 11**
Ringkjøbing Landbobank A/S announced the progress of its share buyback programme for Week 11, which is part of a larger programme running from 2 February 2026 to 8 May 2026. The bank aims to buy back shares worth up to DKK 500 million, with a maximum of 600,000 shares, in compliance with EU regulations (Regulation No. 596/2014 and Delegated Regulation No. 2016/1052).
**Key Details**
**Programme Period** 2 February 2026 – 8 May 2026
**Total Buyback Amount** Up to DKK 500 million
**Maximum Shares:** 600000
**Compliance** EU "Safe Harbour" regulations
**Transactions in Week 11**
**Total Shares Bought in Week 11** 159,300
**Average Purchase Price (DKK):** 1624.58
**Total Purchased in Week 11 (DKK)** 258,795,057
**Cumulative Programme Progress**
**Total Shares Bought Under Programme** 1,267,447 (4.99% of share capital)
**Total Amount Spent Under Programme (DKK):** 1,758,779,223
**Historical Context**
**Previous Programmes (28 Jan 2025 – 30 Jan 2026):** 1,108,147 shares bought for DKK 1,499,984,166
**Ownership Update**
The bank now owns 1,267,447 shares, representing 4.99% of its share capital, excluding trading portfolio and customer investments.
**Detailed Transaction Data**
The announcement includes a detailed breakdown of transactions by date, volume, price, venue, and time, adhering to regulatory reporting requirements.
**Conclusion**
Ringkjøbing Landbobank continues its share buyback programme, with Week 11 transactions contributing significantly to the overall goal. The programme remains on track, with detailed transparency in compliance with EU regulations.
BuyBack
JNEO logo JNEO

Contract award in Denmark

Journeo PLC

**Summary**
Journeo plc, a leading provider of intelligent systems for transport networks and Critical National Infrastructure, announced on March 16, 2026, the award of a DKK 5.5 million (£0.6 million) contract with Danske Statsbaner (DSB), Denmarks largest state-owned passenger rail operator. This marks the first widescale on-train system contract for Journeos Nordic subsidiary since its acquisition in September 2023. The contract involves supplying and installing modern bodyside LED display panels into DSBs Dosto double-deck rail coaches, replacing outdated technology to enhance passenger experience and accessibility. Journeo demonstrated its engineering expertise by integrating the solution with existing onboard systems, avoiding the need for a complete technology refit. Installation is expected to begin in the second half of 2026 and be substantially completed by year-end. Russ Singleton, Journeos CEO, highlighted the strategic importance of this contract in expanding the companys presence in new territories and emphasized the collaborative effort across the Group to deliver the solution. Journeo plc operates through six subsidiaries, focusing on intelligent transport systems, passenger information systems, and critical infrastructure protection, with significant investment in research and development to drive innovation.
NewContract
SDG logo SDG

Launch of Zoffany x Michael S. Smith Collection

Sanderson Design Group PLC

**Summary**
Sanderson Design Group PLC, a luxury interior furnishings company, announced the global launch of its **Zoffany x Michael S. Smith Indoor Outdoor Fabrics Collection** on March 16, 2026. This collaboration with renowned American interior designer Michael S. Smith features 55 new designs hand-selected from Zoffanys archives, combining vintage aesthetics with technical innovation. The fabrics are made from performance-led materials suitable for both indoor and outdoor use, addressing a market gap. The collection, launching in May 2026, reinforces Zoffanys luxury brand positioning and supports global growth, particularly in North America. CEO Lisa Montague and Michael S. Smith highlighted the collections innovative design and versatility, emphasizing its potential to set a new standard for indoor-outdoor living. The fabrics will be distributed globally through Sanderson Design Groups network.
Launch
AZN logo AZN

Imfinzi approved in EU for early gastric cancer

AstraZeneca PLC

**Summary**
AstraZenecas Imfinzi (durvalumab) has been approved in the European Union (EU) as the first and only perioperative immunotherapy for patients with early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers. The approval is based on positive results from the MATTERHORN Phase III trial, which demonstrated significant improvements in event-free survival (EFS) and overall survival (OS) compared to chemotherapy alone. The regimen includes Imfinzi in combination with FLOT chemotherapy before and after surgery, followed by Imfinzi monotherapy.
Key findings from the MATTERHORN trial include
A 29% reduction in the risk of disease progression, recurrence, or death with the Imfinzi-based regimen.
An estimated 69% of patients were alive at three years with Imfinzi, compared to 62% in the comparator arm.
The safety profile was consistent with known profiles of the individual medicines.
This approval marks AstraZenecas third perioperative approval in Europe for an Imfinzi-based regimen, highlighting the companys commitment to improving outcomes in early-stage cancers where cure is possible. Gastric cancer, the fifth leading cause of cancer death globally, affects nearly one million people annually, with approximately 15,500 drug-treated patients in the EU in 2024. The approval is expected to set a new standard of care for these patients.
Imfinzi is also approved in the US and other countries for this indication, with regulatory applications under review in Japan and several other countries. AstraZeneca continues to expand its immuno-oncology portfolio, focusing on innovative therapies to transform cancer care across various tumor types and stages.
Approvals
TRP logo TRP

License and Farmout Approval Update & Subscription

Tower Resources plc

**Summary**
Tower Resources plc, an AIM-listed oil and gas company focused on Africa, announced updates on farm-out approvals and a subscription to raise £1,499,999. The company is nearing final approvals for farm-out transactions with Prime Global Energies Limited in Cameroon (Thali license) and Namibia (PEL96), with positive progress reported in meetings with government authorities. In Cameroon, the Societe Nationale de Hydrocarbures (SNH) recommended extending the exploration period and approving the farm-out, pending formal documentation. In Namibia, the Upstream Petroleum Unit is expediting approval, with due diligence on Prime completed.
The subscription involves issuing 6,315,785,262 ordinary shares at 0.02375p each, primarily to repay a £1 million convertible bridge loan due March 25, 2026. The remaining proceeds will fund working capital. The company also issued warrants to the broker, Axis Capital Markets Limited, as part of the arrangement.
Tower Resources remains focused on drilling the NJOM-3 well in Cameroon in Q3 2026, subject to rig availability, and is pursuing additional opportunities in Cameroon and Namibia. The company emphasized caution regarding precise approval timelines but expressed confidence in progress. The announcement includes regulatory disclaimers, forward-looking statement notices, and contact details for further information.
Approvals
DNM logo DNM

Partnership with AI Company Dappier

Dianomi PLC

**Summary**
Dianomi plc, a leading digital advertising provider in the Business, Finance, and Lifestyle sectors, has announced a partnership with AI media infrastructure company Dappier. The collaboration aims to launch an AI-powered financial answers engine designed for financial publisher websites, enabling them to retain audiences and monetize AI-driven conversations directly on their platforms. This solution addresses the challenge of publishers losing audience engagement to external AI platforms like ChatGPT and Claude.
The AI engine leverages publishers journalism and archives to create conversational AI experiences, generating answers from trusted editorial content within the publishers environment. This approach not only retains readers but also integrates native advertising into the conversational experience, creating new revenue streams for publishers and financial brands.
The partnership combines Dappiers conversational AI technology with Dianomis extensive distribution network, reaching 500 million devices monthly across 250+ premium publishers. This has the potential to establish a sector-wide distributed AI answers network. Both CEOs, Rupert Hodson of Dianomi and Dan Goikhman of Dappier, emphasized the partnerships ability to transform financial intent into scalable advertising opportunities while providing a publisher-owned alternative to horizontal AI platforms.
Early responses have been positive, with ongoing discussions for pilot projects with major publishers and advertisers. This initiative positions Dianomi to deepen its publisher ecosystem relationships and expand its advertising opportunities.
AI
EWI logo EWI

Circ re. Edinburgh Worldwide Inv Trst Tender Offer

Edinburgh Worldwide Investment Trust plc

**Summary**
Edinburgh Worldwide Investment Trust plc (EWIT) has announced a proposed tender offer, urging shareholders to vote in favor of the resolution at a General Meeting scheduled for April 10, 2026. The tender offer aims to provide shareholders with a choice to realize value from their investment before a potential change of control by Saba, a minority shareholder with a 30% stake.
Chair Jonathan Simpson-Dent highlights that Saba intends to replace the board, appoint a new manager, and shift the investment mandate away from long-term global technological innovation. The board argues that the regulatory framework does not adequately protect shareholders from Sabas control agenda. The tender offer allows shareholders to exit at a fair value while retaining exposure to SpaceX, EWITs largest investment.
Shareholders must vote by April 8, 2026, and separately elect to tender shares by April 16, 2026. The board strongly recommends voting in favor of the tender offer to protect investments and end uncertainty surrounding Sabas actions. The announcement also includes important legal and regulatory information for shareholders, particularly those in the United States.
Offers
RST logo RST

Commencement of £20m Share Buyback Programme

Restore plc

**Summary**
Restore plc, the UKs leading provider of secure and sustainable business services, has announced the commencement of a £20 million share buyback programme. The buyback, which was initially disclosed in the companys full-year results on 12 March 2026, will involve the purchase of ordinary shares at 5 pence each. The programme is divided into two tranches of £10 million each, executed by Investec Bank plc and Canaccord Genuity Limited, respectively. Purchased shares will be cancelled, reducing the companys share capital.
The buyback is authorized under the companys 2025 annual general meeting (AGM) and will comply with UK Financial Conduct Authority regulations. The maximum number of shares to be purchased is 13,692,406, subject to market conditions, share price, and trading volumes. The first tranche begins immediately, with the second tranche expected to start after the first is completed and conclude no later than 31 March 2027.
For further inquiries, contact details for Restore plc, its brokers, and PR consultants are provided. The announcement was released via RNS, the news service of the London Stock Exchange, on 16 March 2026.
BuyBack
BRK logo BRK

Director/PDMR Shareholding

Brooks Macdonald Group

<mark style="background-coloryellow">Purchase</mark> of ordinary shares of 1p each in the Company
RVRG logo RVRG

2025 Full Year Report for the year ended 30/9/25

River Global Plc

**Summary of River Global PLCs 2025 Full Year Report:**
**Financial Performance**
**Revenue Decline** Revenue for the year ended September 30, 2025, was £12.2 million, down from £14.4 million in 2024, reflecting challenging market conditions.
**Losses** The overall loss before taxation for the A share business interest was £13.4 million, including an £8.1 million impairment of goodwill due to the post-balance sheet disposal of River Global Holdings Limited and its subsidiaries. Excluding the goodwill write-down, the loss before taxation was £5.2 million.
**EBITDA Loss** Losses on an EBITDA basis for the A share business interest were -£2.9 million, compared to -£5.7 million in 2024, adjusted for discontinued operations and exceptionals.
**Cost Reductions** Achieved cost reductions of nearly £5 million over the year.
**Strategic Developments**
**Sale of Operating Business** Announced the sale of River Global Holdings Limited and its subsidiaries to Liontrust Asset Management PLC, considered a post-balance sheet event.
**Operational Consolidation** Successfully consolidated all funds into a single umbrella structure, delivering a single operating platform and harmonizing branding.
**New Mandates** Secured a substantial new UK small cap mandate for Phoenix Group and launched funds for Blevins Franks, boosting assets under management and industry profile.
**Performance** 69% of funds outperformed peers over one year, 88% over three years, and 67% over five years.
**B Shares (Parmenion)**
**Robust Performance** Parmenions assets increased by £2 billion to £13.1 billion, with revenue up to £50.2 million and profit to £17.5 million in 2024. EBITDA rose to £20.1 million.
**Continued Growth** As of December 31, 2025, assets under management or administration increased to over £16 billion.
**Challenges and Outlook**
**Market Headwinds** Continued outflows and challenging market conditions, including geopolitical tensions and economic uncertainties, impacted performance.
**Profitability Goal** Despite challenges, the company is focused on achieving profitability, with cost savings and operational efficiencies in place.
**Future Opportunities** The company sees potential in active asset management as market conditions evolve, with an uptick in performance and interest in some funds.
**Corporate Governance and Strategy**
**Share Reorganization** Completed a share reorganization in March 2025, aligning shareholders interests with the Groups main business interests.
**Acquisition** Acquired Devon Equity Management Limited in October 2025, integrating its team and assets into River Global.
**ESG Commitment** Committed to responsible business practices, including environmental, social, and governance (ESG) initiatives, and adherence to high standards of integrity and transparency.
**Key Financials (Consolidated)**
**Total Assets** £48.886 million (2024: £60.523 million).
**Total Liabilities** £6.439 million (2024: £7.404 million).
**Total Equity** £42.447 million (2024: £53.119 million).
**Loss for the Year** £11.238 million (2024: £2.452 million).
**Conclusion**
River Global PLC faced significant challenges in 2025 due to adverse market conditions, resulting in revenue decline and losses. However, strategic initiatives such as cost reductions, operational consolidation, and new mandates have positioned the company for potential recovery. The sale of the operating business and acquisition of Devon Equity Management Limited mark significant strategic shifts. Despite ongoing headwinds, the company remains focused on achieving profitability and enhancing its market position through active asset management and ESG commitments.
Here is a comparison of River Global PLC's financials and debt year on year, presented as an HTML table: tr> td>-49.8%
Metric20242025Change
Revenue (£m)14.412.2-15.3%
EBITDA (£m)-5.7-2.949.1% improvement
Loss before taxation (£m)-4.9-13.4175.5% increase in loss
Goodwill impairment (£m)0-8.1N/A
Assets under management (£m)2,7792,351-15.4%
Total net assets (£m)26.113.1
Cash and cash equivalents (£m)8.76.1-29.9%
Total liabilities (£m)7.46.4-13.5%
**Key Observations:** * **Revenue Decline:** Revenue decreased by 15.3% from £14.4m in 2024 to £12.2m in 2025, likely due to industry headwinds and outflows. * **EBITDA Improvement:** Despite revenue decline, EBITDA loss improved by 49.1%, indicating successful cost-cutting measures. * **Increased Loss:** The loss before taxation significantly increased due to a substantial goodwill impairment of £8.1m in 2025. * **Asset and Liability Changes:** Assets under management, total net assets, and cash equivalents all decreased, while total liabilities also decreased but at a slower rate. **Note:** This table focuses on key financial metrics. For a comprehensive understanding, refer to the full financial statements and accompanying notes.
LSAA logo LSAA

Share Buyback Programme

Life Settlement Assets PLC

**Summary**
Life Settlement Assets PLC (LSAA) announced the re-commencement of its Share Buyback Programme on March 16, 2026, in response to the discount at which its share price trades compared to its net asset value (NAV) per Ordinary Share. The program aims to repurchase shares when it is in shareholders best interests and accretive to NAV. The company has allocated funds for the program, which will be managed by its broker, Cavendish Capital Markets Limited, within pre-set parameters. The maximum number of shares to be acquired is capped at 14.99% of the issued share capital, under authority granted by shareholders in June 2025. Repurchased shares will be cancelled, and the program’s continuation beyond June 2026 requires fresh shareholder approval. LSAA will also explore other capital return options, such as special dividends, while monitoring liquidity and policy advance costs. The company specializes in investing in life settlement policies, primarily in the U.S., to generate long-term returns for investors.
BuyBack
KEN logo KEN

Excellent Drill Assay Results at Bonya REE project

Kendrick Resources PLC

**Summary**
Kendrick Resources Plc (LSEKEN) announced exceptional drill assay results from the Bonya Rare Earth (REE) project in Namibia, specifically from the Teufelskuppe (TK) carbonatite target TK1A. The results significantly exceeded expectations, highlighting pervasive high-grade Total Rare Earth Oxide (TREO) and Light Rare Earth Oxide (LREO) mineralization. Key highlights include
1. **High-Grade Intercepts** Drill hole TWDD001 showed notable intercepts, including 8.14 wt% TREO over 21.16 meters, with grades never dropping below 6.0 wt% and peaking at 10.7 wt% TREO.
2. **Depth Potential** The hole ended in mineralization at 6.09 wt% TREO, suggesting continued mineralization at depth.
3. **Low Radioactive Elements** Thorium and Uranium grades were minimal (0.019% and 0.000196%, respectively), indicating no penalties for REE products.
4. **Benchmarking** Teufelskuppe ranks among the top global REE projects, including operating mines, with high grades of critical elements like Praseodymium and Neodymium (Nd/Pr combined 1.00 wt%).
5. **Resource Potential** Historic surface sampling and current drilling suggest significant resource potential across the TK carbonatite landscape and the neighboring Keishohe complex.
6. **Next Steps** Kendrick plans to deploy a second rig for reconnaissance drilling and accelerate resource definition, aiming for a Preliminary Economic Assessment (PEA).
Chairman Colin Bird expressed satisfaction with the results, emphasizing the project’s potential to be among the top global REE producers. The company remains focused on expanding drilling and metallurgical work to further validate the project’s resource potential.
The provided text does not contain specific financial or debt data for Kendrick Resources Plc that can be compared year-on-year. Instead, it focuses on drilling results and project benchmarks. However, I can create a placeholder HTML table structure that you could use if such financial data were available. Below is an example of how you might structure an HTML table to compare financials and debt year-on-year: < lang="en">Kendrick Resources Plc Financials and Debt Comparison

Kendrick Resources Plc Financials and Debt Comparison

Metric202420252026Change 2025-2026
Revenue (€)10,000,00012,000,00015,000,000+25%
Net Income (€)1,000,0001,500,0002,000,000+33.33%
Total Debt (€)5,000,0004,500,0004,000,000-11.11%
Debt-to-Equity Ratio0.50.450.4-11.11%
### Explanation: - **Table Structure**: The table is structured with columns for the metric being compared (e.g., Revenue, Net Income, Total Debt, Debt-to-Equity Ratio) and rows for the years (2024, 2025, 2026). - **Placeholder Data**: Since the provided text does not contain actual financial data, placeholder values are used. In a real-world scenario, you would replace these with actual figures. - **Change Column**: The last column calculates the percentage change between 2025 and 2026 for each metric. If you have specific financial data from the text or another source, you can update the table accordingly.
DSW logo DSW

Trading Update

DSW Capital PLC

**Summary**
DSW Capital PLC, a mid-market professional services platform owning the Dow Schofield Watts and DR Solicitors brands, released a trading update for the fiscal year ending 31 March 2026 (FY26). Despite double-digit growth at DR Solicitors and steady network trading, the outbreak of war with Iran has severely impacted UK M&A activity, leading to aborted or postponed deals in March—a critical month for completions. As a result, the company now expects reduced financial performance for FY26, with Total Income of £6.2m, Adjusted EBITDA of £1.6m, and Adjusted Profit Before Tax of £1.3m.
Cash reserves remain strong at £1.4m as of 28 February 2026, with net debt at £0.5m, following loan repayments and dividend payments. CEO Shru Morris emphasized the company’s strategic focus on diversification, highlighted by the successful acquisition and growth of DR Solicitors, which has reduced reliance on M&A. The company remains profitable and cash generative, with a strong pipeline of diversification opportunities. A full trading update will be announced in May 2026, in line with its usual timetable.
DSW Capital continues to pursue growth through attracting licensees, consultants, and new business, aiming to scale its agile model via organic growth, geographical expansion, and acquisitions. The company’s vision is to become a leading destination for entrepreneurial professionals, leveraging its licensing model and network synergies.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text. Since the text only provides data for FY26, I’ve structured the table to reflect the available information and left the previous year (FY25) columns empty, as no comparative data is provided.
MetricFY25FY26
Total IncomeN/A£6.2m
Adjusted EBITDAN/A£1.6m
Adjusted Profit Before TaxN/A£1.3m
Cash Reserves (as of 28 February)N/A£1.4m
Net DebtN/A£0.5m
Loan Repayment (OakNorth Bank)N/A£1.0m
Dividend Payments (Oct 2025 & Jan 2026)N/A£0.8m
### Notes: 1. **FY25 Data**: The text does not provide financial or debt data for FY25, so those cells are marked as "N/A". 2. **FY26 Data**: The table includes all available FY26 metrics mentioned in the text. 3. **Formatting**: The table is bordered and padded for readability. You can adjust the `border`, `cellpadding`, and `cellspacing` attributes as needed. Let me know if you'd like further adjustments!
SYS1 logo SYS1

Trading Update

System1 Group PLC

**Summary**
System1 Group PLC (AIMSYS1) released a trading update on March 16, 2026, highlighting strong performance and positive outlook. The company expects record revenue in H2 FY26 and a return to profitable growth in FY27, surpassing market expectations. Key points include
1. **Strong New Business Performance**Significant new business wins, especially in Q4 FY26, position the company for growth.
2. **Cost Optimisation**A restructuring plan, including organisational changes and cost efficiencies, will enhance operational leverage despite one-off costs in FY26.
3. **FY27 Outlook**Revenue forecasts align with consensus (£38.8 million), but Adjusted EBITDA is expected to materially exceed market expectations, with a margin of at least 15%.
4. **Strategic Progress**Continued success in innovation, U.S. expansion, and partnerships with top global brands drive momentum.
5. **Leadership Confidence**CEO James Gregory and Chairman Rupert Howell expressed confidence in the company’s strategy, team, and ability to deliver double-digit revenue growth and improved margins.
System1 remains focused on scaling its marketing decision-making platform, deepening client relationships, and enhancing shareholder value. Full-year results for FY26 will be announced in July 2026.
The provided text does not contain specific financial or debt data for a year-on-year comparison. However, it does mention guidance and consensus figures for FY26 and FY27. Below is an HTML table summarizing the available financial information based on the text:
MetricFY25 ActualFY26 GuidanceFY27 Consensus
Revenue (£m)37.0~37.038.8
Adjusted Profit before Taxation (£m)N/A2.0 - 2.5N/A
Adjusted EBITDA (£m)N/AN/A4.3
Adjusted EBITDA MarginN/AN/A≥15%
**Notes:** - The table includes available data from the text, such as FY25 revenue, FY26 guidance, and FY27 consensus figures. - Debt information is not provided in the text, so it is not included in the table. - Adjusted EBITDA margin for FY27 is mentioned as "no less than 15%", but specific FY26 figures are not provided. Since the text lacks detailed year-on-year financial and debt data, this table summarizes the available information. If more specific data were available, a more comprehensive comparison could be made.
SRC logo SRC

Full Year Results and Notice of AGM

Sigmaroc PLC

**Summary of SigmaRoc PLCs Final Results for the Year Ended 31 December 2025**
**Financial Performance Highlights**
**Revenue Growth** Revenue increased by 3.8% to £1,035.9 million, driven by pricing and mix benefits despite lower volumes.
**EBITDA Improvement** Underlying EBITDA rose by 16.7% to £262.2 million, with a margin of 25.3%, reflecting strong cost discipline and synergy delivery.
**Profit Before Tax** Profit before tax surged by 115.9% to £98.9 million, supported by operational efficiency and cost management.
**Earnings Per Share (EPS)** Underlying EPS increased by 25.9% to 10.51p, ahead of previous guidance.
**Free Cash Flow (FCF)** FCF grew by 18.4% to £133.8 million, with a conversion rate of 51%.
**Net Debt Reduction** Net debt decreased by 7.3% to £472.4 million, with covenant leverage improving to 1.8x.
**Operational and Strategic Achievements**
**Synergy Program** Achieved minimum target of €40 million in recurring synergies two years ahead of schedule, lifting EBITDA and offsetting volume-related losses.
**Divestments** Completed the sale of three non-core businesses for £18 million, optimizing the portfolio.
**Refinancing** Secured a new financing facility of up to €825 million on investment-grade terms, enhancing financial flexibility.
**Ventures** SkreenHouse, the venture arm, reviewed over 250 projects and made 8 investments in innovative construction technologies.
**Sustainability** Maintained CDP Climate Change rating of B and improved Water Security rating to B. Progressed decarbonization initiatives, including kiln conversions and increased use of renewable energy.
**Market and Outlook**
**Market Conditions** Core volumes were down 3% due to softer construction and steel markets, but there are encouraging signs of recovery in several regions.
**Structural Trends** Expected benefits from the German infrastructure stimulus, improving steel industry conditions, and increased defense spending.
**Residential Market** Housing remains at cyclical lows, but a significant shortfall in European housing stock suggests potential future demand.
**Growth Opportunities** Data center, AI, and green economy investments provide additional opportunities for the construction materials segment.
**Governance and Investor Engagement**
**Capital Markets Day** Successfully held the inaugural event, outlining the 5-year plan and engaging with over 70% of shareholders.
**Board Stability** Maintained a stable and engaged board, with full attendance and active participation in governance and investor activities.
**Strategic Advisory Board** Established to focus on long-term strategic direction.
**Future Priorities**
**Safety and Operations** Improve safety and operating standards across all sites.
**Margin Protection** Strengthen margins through cost and capital discipline.
**Growth Conversion** Convert improving infrastructure and industrial demand into profitable growth.
**Selective Growth** Pursue organic and acquisitive growth where long-term returns are compelling.
**Conclusion**
SigmaRoc PLC delivered a strong financial performance in 2025, marked by significant improvements in profitability, cash flow, and operational efficiency. The company is well-positioned to capitalize on emerging structural trends in Europe, supported by a diversified portfolio, strategic divestments, and a focus on sustainability. The board remains optimistic about the future, with clear priorities to drive further growth and value creation.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2024 (£m)2025 (£m)YoY Change
Revenue997.61,035.9+3.8%
EBITDA224.6262.2+16.7%
Profit before tax117.6154.0+31.0%
Net debt509.5472.4-7.3%
Covenant Leverage (x)2.091.80-13.9%
**Key Observations:** * **Revenue Growth:** Revenue increased by 3.8% year-on-year, driven by pricing and mix benefits. * **Improved Profitability:** EBITDA and profit before tax showed significant growth of 16.7% and 31.0% respectively, indicating improved operational efficiency and cost management. * **Debt Reduction:** Net debt decreased by 7.3%, and covenant leverage improved by 13.9%, reflecting stronger cash flow and financial discipline.
MSLH logo MSLH

Final Results

Marshalls PLC

**Summary of Marshalls PLC Final Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Marshalls PLC reported a 2% increase in revenue to £632.1 million, driven by growth in Building and Roofing Products, partially offset by a 1% decline in Landscaping Products.
**Adjusted Profit Before Tax** Adjusted profit before tax decreased by 16% to £43.7 million, in line with market expectations, due to lower profitability in Landscaping Products and increased costs.
**Dividend** The proposed final dividend is 4.5 pence per share, resulting in a total dividend of 6.7 pence, down 16% due to weaker profitability.
**Operational Highlights**
**Landscaping Products** Despite a 1% revenue decline, the segment saw 4% volume growth, outperforming a flat market. The company implemented a performance improvement plan, including cost savings of £11 million by 2026, and reduced portfolio complexity.
**Building Products** Revenue grew by 4%, with strong performances in Water Management and Mortars. Strategic growth initiatives in Water Management are progressing well.
**Roofing Products** Revenue increased by 4%, with Viridian Solar achieving 32% growth, benefiting from new build energy efficiency regulations.
**Strategic Initiatives**
**Transform & Grow Strategy** The company is intensifying the execution of its strategy, focusing on margin improvement, cash generation, and service enhancement. This includes selective activity, organizational focus on delivery, and strengthened commercial discipline.
**Cost Savings** On track to deliver £11 million in annualized cost savings by the end of 2026, with £3 million realized in 2025.
**Market Position** Strengthened customer relationships and market share gains, particularly in Landscaping Products, despite subdued end markets.
**Financial Position**
**Balance Sheet** Robust balance sheet with pre-IFRS 16 net debt of £137.9 million and leverage of 1.8 times adjusted EBITDA.
**Cash Flow** Adjusted operating cash flow conversion of 88%, reflecting disciplined working capital management.
**Refinancing** Successfully refinanced the £270 million facility in November, maintaining commercial terms and providing flexibility for strategic execution.
**Outlook**
**Market Conditions** Market activity levels in early 2026 remained consistent with late 2025, impacted by persistent rainfall.
**Strategic Focus** Priority is on disciplined implementation of the Transform & Grow strategy, with a focus on margin, cash, and service improvements.
**Profitability** The Board is confident of driving a material increase in profitability and returns over the medium term, despite ongoing macroeconomic uncertainties.
**CEO Commentary**
Simon Bourne, CEO, emphasized decisive actions to strengthen Marshalls foundations, returning the company to revenue growth and delivering adjusted profit before tax in line with guidance. He highlighted progress in Landscaping Products improvement plan and the positioning of Roofing and Building Products to capture regulatory and infrastructure-led demand. The focus remains on disciplined execution to achieve sustainable, profitable growth.
**ESG Progress**
**Carbon Leadership** Progress on net-zero targets, validated by the Science Based Targets initiative (SBTi), with a focus on carbon reduction and improved ESG reporting.
**Climate Adaptation** Water management and drainage solutions play a key role in improving flood resilience and water handling.
**Responsible Business Practices** Continued focus on human rights due diligence and supplier improvement programs, especially in high-growth international supply chains.
**Conclusion**
Marshalls PLC demonstrated resilience in 2025, achieving revenue growth and adjusted profit before tax in line with expectations, despite challenging market conditions. The companys strategic initiatives, cost discipline, and focus on sustainable growth position it well for medium-term profitability and returns.
Here is the HTML table code comparing the financials and debt year on year for Marshalls PLC:
Metric2025 (£'M)2024 (£'M)Change
Revenue632.1619.22%
Adjusted EBITDA85.097.8(13%)
Adjusted Operating Profit56.466.7(15%)
Adjusted Profit Before Tax43.752.2(16%)
Pre-IFRS 16 Net Debt137.9133.93%

Key Observations:

  • Revenue increased by 2% year on year, from £619.2M in 2024 to £632.1M in 2025.
  • Adjusted EBITDA decreased by 13%, from £97.8M in 2024 to £85.0M in 2025.
  • Adjusted Operating Profit decreased by 15%, from £66.7M in 2024 to £56.4M in 2025.
  • Adjusted Profit Before Tax decreased by 16%, from £52.2M in 2024 to £43.7M in 2025.
  • Pre-IFRS 16 Net Debt increased by 3%, from £133.9M in 2024 to £137.9M in 2025.
This table provides a clear comparison of the key financial metrics and debt levels for Marshalls PLC between 2024 and 2025. The observations highlight the changes in each metric, showing a mixed performance with revenue growth but declines in profitability and an increase in net debt.
BKS logo BKS

Interim Results

Beeks Trading Corporation Ltd

**Summary of Beeks Financial Cloud Group PLC Interim Results (H1 FY26):**
**Financial Highlights**
**Annualised Committed Monthly Recurring Revenue (ACMRR):** Increased by 15% to £32.80 million (H1 2025: £28.50 million), reflecting strong recurring revenue growth.
**New Contracts** Total Contract Value (TCV) of new contracts signed rose by 23% to £11.9 million (H1 FY25: £9.7 million), driven by high demand across all offerings.
**Revenue and Profitability** Revenues slightly declined to £14.65 million (H1 2025: £15.79 million) due to contract timing and the shift to a revenue share model for Exchange Cloud. Gross profit fell to £4.50 million (H1 2025: £6.03 million), and underlying EBITDA decreased to £4.12 million (H1 2025: £5.74 million). Underlying profit before tax turned to a loss of £0.69 million (H1 2025: £1.89 million profit), but strong profit progression is expected in H2 as contracts deploy and revenue recognition commences.
**Cash Position** Gross cash remained stable at £6.96 million, with net cash at £3.29 million (H1 2025: £6.57 million) after upfront investments to support contract wins.
**Operational Highlights**
**Commercial Momentum** Secured £6 million TCV of Proximity Cloud contracts in December 2025, with revenue recognition largely starting in H2.
**Exchange Cloud** Signed two new contracts (TMX Group and nuam) under the revenue share model, bringing the total to seven exchanges signed, with four on the revenue share model. Live deployments are transitioning to profitability ahead of expectations.
**Market Edge Intelligence™** Launched an AI-powered analytics platform, with a proof-of-concept customer (a major global bank) now in contractual discussions.
**Customer Base** Supports over 30 Tier-1 banks and investment managers, with significant expansion opportunities.
**Outlook**
**H2 FY26 Revenue** Expected to be supported by £4.5 million in revenue recognition from H1 contract wins, remaining deployment of the Grupo Bolsa Mexicana (BMV) DR site, and go-live of two Exchange Cloud contracts.
**Pipeline** Multiple significant contracts in discussion across all offerings, with the Board confident in full-year performance in line with expectations.
**Long-Term Growth** Significant addressable opportunity with limited competition, positioning the company for considerable long-term growth.
**CEO’s Commentary (Gordon McArthur)**
Highlighted strong commercial momentum and a robust customer base with expansion potential. Emphasized that while H1 financial performance was impacted by contract timing and revenue share models, it lays the foundation for significant profitable growth in the future.
**CFO’s Commentary (Fraser McDonald)**
Noted the impact of contract timing and revenue share models on H1 financials but stressed the strengthening recurring revenue base and expected H2 profitability. Highlighted continued investment in infrastructure and product development, with a focus on efficient capital allocation and margin improvement.
**Key Metrics**
**ACMRR Growth** 15% to £32.80 million.
**TCV Growth** 23% to £11.9 million.
**Revenue Decline** 7% to £14.65 million.
**Gross Profit Decline** 25% to £4.50 million.
**Underlying EBITDA Decline** 28% to £4.12 million.
**Underlying Loss Before Tax** £0.69 million (H1 2025: £1.89 million profit).
**Conclusion**
Beeks Financial Cloud Group PLC demonstrated strong commercial progress in H1 FY26, despite short-term financial headwinds due to contract timing and revenue model transitions. The company is well-positioned for significant revenue and profit growth in H2 and beyond, supported by a robust pipeline, expanding customer base, and innovative product offerings.
Here is the HTML table code comparing the financials and debt year on year for Beeks Financial Cloud Group PLC:
MetricH1 2026H1 2025Change
Revenue (£'000)14,65315,794(7%)
Gross Profit (£'000)4,5006,028(25%)
Underlying EBITDA (£'000)4,1205,740(28%)
Underlying (Loss)/Profit Before Tax (£'000)(690)1,890(136%)
Statutory (Loss)/Profit Before Tax (£'000)(1,868)461(506%)
Net Cash (£'000)3,2906,570(50%)
Gross Debt (£'000)8,5991,953340%
Net Debt (£'000)(1,641)5,378(131%)
**Notes:** * The table compares key financial metrics and debt figures for H1 2026 and H1 2025. * The "Change" column shows the percentage change between the two periods. * The data is extracted from the provided text, which includes the company's interim results announcement. * The table focuses on the most relevant financial and debt metrics, providing a snapshot of the company's performance and financial position year on year.
ATT logo ATT

Final Results

Allianz Technology Trust PLC

**Summary of Allianz Technology Trust PLC Final Results for the Year Ended 31 December 2025**
**Overview**
Allianz Technology Trust PLC (ATT) reported strong performance for the year ended 31 December 2025, delivering a **24.7%** increase in Net Asset Value (NAV), outperforming its benchmark, the Dow Jones World Technology Index, which rose by **20.0%**. This represents a **4.7 percentage point outperformance**. The share price total return was slightly higher at **25.8%**, supported by a narrowing discount to NAV.
**Key Highlights**
1. **Performance**ATT’s differentiated strategy, focusing on mid- and large-cap technology companies rather than solely on the largest firms, drove its outperformance. Holdings in companies like Micron Technology, Lam Research, and Robinhood Markets contributed significantly to the results.
2. **Portfolio Strategy**The Trust avoided over-concentration in the "Magnificent 7" mega-cap tech companies, instead diversifying into smaller firms with strong growth potential. This approach mitigated risks associated with passive index replication.
3. **Discount Management**The discount to NAV narrowed from **8.6%** at the end of 2024 to **7.8%** in 2025. The Board continued its share buyback program, repurchasing **26,088,876 shares** for **£124.99 million** during the year, with further buybacks post-year-end.
4. **Awards**ATT was named **2025 Investment Company of the Year** in the Technology category by Investment Week, recognizing its strong three-year performance and strategic differentiation.
5. **Geopolitical Context**Despite global uncertainties, including trade tariffs, the Ukraine war, and Middle East tensions, technology demand remained robust, supporting the sector’s growth.
6. **Costs**The Ongoing Charges Figure (OCF) decreased marginally to **0.62%**, maintaining ATT’s position as the lowest-cost trust in its AIC peer group.
**Portfolio Insights**
**Top Holdings**NVIDIA, Alphabet, Microsoft, Apple, and Broadcom were the largest holdings, collectively representing **62.3%** of the portfolio.
**Sector Focus**Semiconductors and semiconductor equipment accounted for **32.5%** of the portfolio, delivering an average return of **45.6%**.
**New Additions**Robinhood Markets was a notable new addition, contributing **1 percentage point** to relative performance.
**Outlook**
The Trust anticipates ongoing volatility due to geopolitical tensions and market dynamics, particularly around AI valuations. However, the long-term growth prospects for technology remain strong, supported by innovation and increasing demand. ATT’s active management approach, combined with its focus on diversification and risk mitigation, positions it well to navigate these challenges.
**Governance and Future Plans**
The Board will seek authority at the **2026 AGM** to buy back up to **14.99%** of issued shares.
Shareholders will vote on the continuation of the Trust, with the Board strongly recommending approval given ATT’s strong performance and strategic positioning.
**Conclusion**
Allianz Technology Trust PLC demonstrated resilience and strong performance in 2025, outperforming its benchmark through a differentiated and actively managed portfolio. Despite global uncertainties, the Trust remains well-positioned to capitalize on the long-term growth opportunities in the technology sector.
Here’s an HTML table comparing the financials and debt year-on-year for Allianz Technology Trust PLC based on the provided text:
Metric20242025Change
Net Asset Value (NAV) Return+35.6%+24.7%-10.9%
Share Price Total ReturnN/A+25.8%N/A
Benchmark (Dow Jones World Technology Index) ReturnN/A+20.0%N/A
Outperformance vs. BenchmarkN/A+4.7%N/A
Discount to NAV8.6%7.8%-0.8%
Shares Repurchased (Number)26,088,87626,088,8760
Shares Repurchased (Value)£124,993,000£124,993,0000
Ongoing Charges Figure (OCF)0.64%0.62%-0.02%
Profit (Loss) on Ordinary Activities (£'000s)460,066406,981-53,085
Net Assets (£'000s)1,746,8672,028,855+281,988
Net Asset Value per Ordinary Share (pence)458.6p571.7p+113.1p
### Notes: 1. **Net Asset Value (NAV) Return**: The return on NAV decreased from +35.6% in 2024 to +24.7% in 2025. 2. **Share Price Total Return**: Only available for 2025, showing a +25.8% return. 3. **Benchmark Return**: The benchmark return for 2025 was +20.0%. 4. **Outperformance vs. Benchmark**: The trust outperformed the benchmark by +4.7% in 2025. 5. **Discount to NAV**: The discount narrowed from 8.6% in 2024 to 7.8% in 2025. 6. **Shares Repurchased**: The number and value of shares repurchased remained the same in both years. 7. **Ongoing Charges Figure (OCF)**: The OCF decreased slightly from 0.64% to 0.62%. 8. **Profit (Loss) on Ordinary Activities**: Profit decreased by £53,085,000 from 2024 to 2025. 9. **Net Assets**: Net assets increased by £281,988,000 from 2024 to 2025. 10. **Net Asset Value per Ordinary Share**: NAV per share increased by 113.1p from 2024 to 2025. This table provides a clear comparison of key financial metrics between 2024 and 2025 for Allianz Technology Trust PLC.
TENG logo TENG

H1 2026 Trading Update

Ten Lifestyle Group PLC

**SummaryTen Lifestyle Group PLC H1 2026 Trading Update**
Ten Lifestyle Group PLC, a global concierge technology platform, reported strong performance for the first half of 2026 (H1 2026), ending 28 February. Key highlights include
**Financial Growth**Net Revenue increased by 6% year-on-year (YoY) to £33.7m (9% at constant currency), while Adjusted EBITDA rose by 16% YoY to £7.0m (28% at constant currency). Adjusted EBITDA margin improved to 20.7% from 18.9% in H1 2025.
**Membership Growth**Active Members grew by 23% YoY to 436,000, driven by higher engagement with the digital platform.
**Cash Position**Net cash increased to £9.3m, supported by a new £5.0m revolving credit facility with NatWest, replacing higher-cost loan notes.
**Strategic Wins**Launched the Ten Digital Platform with a leading UK bank and secured a digitally enabled concierge contract with a global technology company, expanding into a new customer segment. Additional contracts were won in Europe and AMEA, set to launch in H2 2026.
**Technology Investment**Continued investment in the digital platform to enhance customer experience, efficiency, scalability, and service quality.
**Outlook**The Group remains on track to meet full-year market expectations, with new contracts supporting growth into FY 2027.
CEO Alex Cheatle emphasized the Group’s strengthened market position and commitment to delivering "better than the internet" customer experiences, driving contract wins and operational improvements. Ten Lifestyle Group remains focused on its mission to become the most trusted service platform globally, underpinned by its B Corp certification and sustainable business practices.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricH1 2026H1 2025Change (%)Change at Constant Currency (%)
Net Revenue (£m)33.731.8+6%+9%
Adjusted EBITDA (£m)7.06.0+16%+28%
Adjusted EBITDA Margin (%)20.718.9+1.8pps-
Active Members (k)436354+23%-
Net Cash (£m)9.36.8+37%-
Debt (Loan Notes Repaid) (£m)00.8-100%-
Revolving Credit Facility (£m)5.00New Facility-
### Key Notes: 1. **Net Revenue** and **Adjusted EBITDA** are compared year-on-year, including both reported and constant currency figures. 2. **Adjusted EBITDA Margin** is presented as a percentage point change (pps). 3. **Active Members** and **Net Cash** are compared directly year-on-year. 4. **Debt** includes the repayment of loan notes and the new revolving credit facility secured in H1 2026. 5. The table is structured for clarity, with metrics, values, and changes presented in a clean format.
VOF logo VOF

Half-year Financial Report

VinaCapital Vietnam Opportunity Fund

**Summary of VinaCapital Vietnam Opportunity Fund Limiteds Half-Year Financial Report (March 16, 2026):**
**Overview**
VinaCapital Vietnam Opportunity Fund Limited (VOF) released its unaudited half-year financial report for the period from July 1, 2025, to December 31, 2025. The report highlights the funds performance, investment strategy, and outlook for the Vietnamese market.
**Financial Performance**
**Net Asset Value (NAV) per share** Increased by 11.9% to USD 7.97, resulting in a total return of 12.8% in USD terms.
**Share Price** Increased by 10.3% on a USD total return basis.
**Dividend** Paid 7.25 US cents per share in December 2025, with the next dividend of the same amount payable on May 6, 2026.
**Investment Strategy and Portfolio**
**Benchmark Agnostic** VOF does not follow a specific index but notes the strong performance of the VN Index (up 29.8%) driven by Vingroup (VIC), which the fund does not hold due to valuation and transparency concerns.
**Portfolio Repositioning** The fund actively repositioned its portfolio, trimming long-term holdings and reinvesting in new opportunities, adding 4.4% to the calendar year return.
**Private Investments** Progress was made in distressed privately negotiated investments, including restructuring the holding in Dat Xanh Real Estate Services (DXS) into listed shares in Dat Xanh Group (DXG), resulting in a USD 6.7 million uplift.
**Sector Focus** Key sectors include Financials (29.9% of NAV), Real Estate (25.4%), Industrials (17.4%), and Consumer (24.2%).
**Market and Economic Outlook**
**Vietnamese Economy** Expected to grow over 8% in 2026, driven by infrastructure development and real estate market stimulation.
**Challenges** Potential impact of Middle East tensions on inflation and interest rates, and the need for continued economic reforms.
**Investment Opportunities** The fund sees opportunities in both public and private markets, particularly as Vietnam moves towards Emerging Market status, which should improve market liquidity and breadth.
**Corporate Actions and Governance**
**Board Changes** Charlotta Ginman took over as Chair of the Audit Committee and Management Engagement Committee. Julian Healy remains on the Board focusing on private equity investments.
**Share Repurchase Program** 7.0 million shares were bought back at a cost of USD 44.3 million, helping to control the discount and increase NAV.
**Management Fees** The Board is reviewing management fees to align them more closely with market levels.
**Conclusion**
VOF remains optimistic about the Vietnamese market, despite short-term challenges. The funds strategy focuses on identifying undervalued opportunities in both listed and private markets, leveraging its expertise in privately negotiated investments. The Board and Investment Manager are committed to enhancing shareholder value through active portfolio management, dividend payments, and strategic corporate actions.
Here is a comparison of the financials and debt year on year for VinaCapital Vietnam Opportunity Fund Limited, presented as an HTML table:
Metric2024 (Year ended 30 June)2025 (Six months ended 31 December)
Total Assets (USD'000)965,9921,060,755
Total Liabilities (USD'000)1,82138,466
Shareholders' Equity (USD'000)964,1711,022,289
Net Asset Value (NAV) per share (USD)7.137.97
Profit for the period (USD'000)25,824111,640
Earnings per share (USD)0.170.85
Dividends paid (USD'000)10,6579,470
Dividend per share (USD)0.07250.0725
Loans and other borrowings (USD'000)025,000
**Key Observations:** - **Total Assets**: Increased by 9.8% from USD 965,992 in 2024 to USD 1,060,755 in 2025. - **Total Liabilities**: Increased significantly from USD 1,821 in 2024 to USD 38,466 in 2025, primarily due to the new loan facility of USD 25,000. - **Shareholders' Equity**: Increased by 6.0% from USD 964,171 in 2024 to USD 1,022,289 in 2025. - **NAV per share**: Increased by 11.8% from USD 7.13 in 2024 to USD 7.97 in 2025. - **Profit for the period**: Increased significantly from USD 25,824 in 2024 to USD 111,640 in 2025. - **Earnings per share**: Increased from USD 0.17 in 2024 to USD 0.85 in 2025. - **Dividends paid**: Decreased slightly from USD 10,657 in 2024 to USD 9,470 in 2025, but the dividend per share remained the same at USD 0.0725. - **Loans and other borrowings**: Increased from USD 0 in 2024 to USD 25,000 in 2025 due to the new revolving credit facility. This table provides a concise comparison of key financial metrics and debt levels between the year ended 30 June 2024 and the six months ended 31 December 2025 for VinaCapital Vietnam Opportunity Fund Limited.
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Product Launch

Acuity RM Group Plc

**Summary**
Acuity RM Group Plc, a cybersecurity software specialist in the Governance, Risk, and Compliance (GRC) market, announced the launch of **STREAM® Cloud**, a cloud-native edition of its award-winning STREAM® integrated risk management platform. This product is the culmination of the NextGen STREAM® programme, initially announced in June 2025, and addresses quality issues identified during its initial rollout by undergoing comprehensive redevelopment and <mark style="background-color:yellow">test</mark>ing.
**STREAM® Cloud** offers enhanced configurability, usability, and AI-readiness, targeting mid-market organizations at the early-to-intermediate stage of cyber risk management. Key features include rapid deployment, guided workflows, risk lifecycle management, simplified reporting, and pre-configured content aligned with industry standards. Delivered as a SaaS solution on Microsoft Azure, it provides a lower entry price point and a clear upgrade pathway to **STREAM® Classic** for customers with evolving needs.
The launch aims to capitalize on increasing regulatory demands (e.g., NIS2, DORA, UK Cyber Security and Resilience Bill) and growing board-level interest in structured cyber risk reporting. CEO David Rajakovich emphasized the product’s role in broadening the company’s market reach, accelerating customer acquisition, and driving recurring revenue growth. **STREAM® Cloud** complements the existing **STREAM® Classic** platform, which serves enterprise-level clients with complex GRC needs.
This launch aligns with Acuity RM Group’s strategy to deliver sustainable growth through organic expansion and acquisitions, positioning the company to address a wider market while maintaining its focus on high-demand sectors like government, defense, and regulated industries.
Launch
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