A busy morning of corporate news spans index promotion, a senior executive suspension, M&A, and operational updates across the small-cap universe. Seraphim Space Investment Trust (LSE: SSIT) heads the agenda with a confirmed FTSE 250 entry date, while Neo Energy Metals (LSE: NEO) disclosed the suspension of its chief financial officer pending investigation, a governance development that will command attention at the open.
Seraphim Space confirmed for FTSE 250 entry on 19 June
Seraphim Space Investment Trust (LSE: SSIT), the world's first listed SpaceTech investment company, will join the FTSE 250 from the start of trading on 19 June. The promotion follows a recent £137m C share raise that lifted the trust's market profile sufficiently to qualify for inclusion in the mid-cap index.
Neo Energy Metals suspends CFO pending investigation
Neo Energy Metals (LSE: NEO) has suspended chief financial officer De Wet Schutte pending an investigation, with Martin Westerman stepping in to oversee the company's financial function with immediate effect. The company provided no further detail on the nature of the investigation, leaving the announcement as a significant governance flag ahead of Monday's session.
BRCK Group acquires H.S. Jackson & Son for up to £30.9m
Brickability Group has agreed to acquire H.S. Jackson & Son for a total consideration of up to £30.9m, comprising an upfront payment of £19.9m and a contingent earnout of up to £11m. The buyer described the deal as earnings enhancing in year one, signalling confidence in the target's near-term contribution to the enlarged group.
Pensana secures US$165m Cascade investment for Longonjo rare earths project
Pensana has secured a US$165m cornerstone investment from Cascade to anchor the development of its Longonjo mine-to-magnet project in Angola. The capital will be deployed into the US$250m Longonjo project, which is designed to produce rare earth materials along an integrated supply chain from mine through to finished magnets.
Mpac Group issues profit warning and agrees Lambert disposal
Mpac Group (LSE: MPAC) warned that full-year profit will be substantially below market expectations and simultaneously announced the sale of its Mpac (AIM:MPAC) Lambert division for an initial £16m, with up to a further £4m in earnouts. The combination of a guidance cut and a disposal makes this one of the more consequential pre-open announcements of the morning.
Forgent takes exclusive option to acquire 80% of Mount Sholl nickel-copper-PGE project
Forgent (LSE: FORG) has entered into a binding exclusive option agreement with Raiden Resources and Pilbara Gold Corporate to acquire an 80% interest in the Mount Sholl nickel-copper-PGE project in Western Australia for A$2.7m. The option is exercisable over a five-month window, giving Forgent a defined period to complete due diligence and advance the acquisition.
Tertiary Minerals launches 4,000m drill programme at Mushima North
Tertiary Minerals (LSE: TYM) has commenced a 4,000-metre drilling programme at its Mushima North project in Zambia, targeting the A1 deposit with the aim of generating a maiden JORC mineral resource estimate. The programme is designed to gather sufficient data on the A1 Target to underpin a formal resource classification.
RC365 soft-launches upgraded RC3.0 app ahead of June commercial roll-out
RC365 Holding has soft-launched its RC3.0 mobile application, an upgraded version of its flagship platform that introduces Banking Virtual Accounts and a Merchant Owned Ecosystem point-of-sale system. The company is targeting a full commercial launch before the end of June 2026, with the soft-launch phase intended to stress-test the new functionality ahead of wider deployment.
Quantum Blockchain targets first Method C AI Oracle by end of June
Quantum Blockchain Technologies (LSE: QBT) said its partner's Mining Development Kit is now producing training-quality SHA-256 data, and the company expects to generate its first Method C AI Oracle as early as the end of June. The milestone would represent a significant step in the company's programme to apply artificial intelligence to bitcoin mining optimisation.
IXICO recruits three key opinion leaders to bolster Parkinson's research
IXICO (LSE: IXI) has added three senior scientists as key opinion leaders to support the expansion of its Parkinson's disease research capabilities. The recruits are described as heavyweight figures in their field, and their appointment is intended to strengthen IXICO's scientific advisory base as the company deepens its focus on neurodegenerative disease imaging.
Oriole Resources reports 27.20m at 1.69g/t from MB01-S step-out drilling
Oriole Resources (LSE: ORR) completed a 10-hole, 2,476.80-metre step-out diamond drilling programme at the MB01-S deposit in Cameroon, returning a best intersection of 27.20 metres at 1.69 grams per tonne gold. An updated JORC mineral resource estimate for MB01-S is expected in early Q3 2026, with the new drilling results set to inform that revised estimate.
Debenhams Group signs royalty-based beauty licence with Revolution Beauty
Debenhams Group has agreed a royalty-based licensing deal with Revolution Beauty covering the manufacture and distribution of fragrance and gifting collections across multiple Debenhams brands. First product ranges under the agreement are due to reach market ahead of Christmas, positioning the partnership to capture the peak gifting season.
Avation delivers ATR 72-600 to Cambodia Airways on twelve-year lease
Avation (LSE: AVAP) has delivered an ATR 72-600 turboprop aircraft to Cambodia Airways under a twelve-year lease agreement. The delivery takes Avation's total of new ATR aircraft received since the commencement of its purchase agreement with the manufacturer to more than forty.
Pharos Energy clears Egyptian receivables and spuds first well of six-well programme
Pharos Energy (LSE: PHAR) has collected $12.6m in Egyptian receivables year-to-date, including $3.8m in the most recent week, and has settled contingent farm-out payments. The company has also spudded the first well of a six-well drilling programme, committing $11m of capital expenditure as it moves to an active operational phase in Egypt.
Audioboom forecasts record first-half earnings and ends strategic review
Audioboom (LSE: BOOM) expects to report US$45m of revenue and US$3m of adjusted EBITDA for the six months to 30 June, which the company described as a record first-half performance. Alongside the trading update, Audioboom confirmed it has terminated sale discussions and concluded its strategic review, signalling that management intends to pursue growth as an independent business.
Henry Boot sells 416-home Biggleswade site to Persimmon
Henry Boot (LSE: BOOT) has sold a 416-home residential development site in Biggleswade to Persimmon through its Hallam Land Management operation. The 105-acre site was brought forward with planning consent secured by Hallam Land before the disposal to the housebuilder.
Georgia Capital divests m2 housing developer to repay US$25m bond
Georgia Capital (LSE: CGEO) has agreed to sell its m2 housing development business to local investors, with the proceeds earmarked to repay an outstanding US$25m bond maturing in August. The disposal removes a near-term refinancing obligation and simplifies the group's portfolio ahead of the bond's due date.
IAG to redeem 1.125% convertible bonds on 21 July
International Consolidated Airlines Group (LSE: IAG) has announced it will redeem its 1.125% convertible bonds on 21 July. Bondholders retain the right to convert their holdings into equity up to 14 July, after which the instruments will be redeemed for cash.
Balfour Beatty exits US Department of Justice monitorship of military housing arm
Balfour Beatty (LSE: BBY) confirmed that the Department of Justice monitorship of its US military housing business formally concluded on 6 June. The end of the monitorship removes a long-standing regulatory oversight obligation from the group's US operations.
