Whole company · 16
a review of the company itself: takeover-relevant
Schroder BSC Social Impact Trust£61m
SBSI · live from 29 Oct 25 · last mention 29 Oct 26
the whole company
ongoing
“The report comes as the Board is carrying out a strategic review into the future of the Company and actively consulting with shareholders, as announced on 2 July 2025 and updated on 4 September 2025.”
Timetable: with full details of the proposal expected in the first quarter of 2027
Proceeds: non-participating shareholders would be provided with a near-term cash exit
3 tagged announcement(s)
29 Oct 26 Annual Results · new or live reviewHeaded 'Update on the strategic review' and reports it continuing: 'the Board, alongside its advisers, has continued exploring ways to provide a cash exit for shareholders'.
29 Oct 25 Annual Results · new or live reviewReported as continuing: "the Board is carrying out a strategic review into the future of the Company" and "currently evaluating potential fund structures and alternatives"
Mind Gym£6m
MIND · live from 19 Oct 26 · last mention 28 Oct 26
the whole company
ongoing
“As announced on 27 January 2026, the Board confirmed that it is in discussions with selected third parties as part of a private strategic review (the ‘Strategic Review’) that may, among other outcomes, result in an offer for the Company.”
3 tagged announcement(s)
28 Oct 26 Director Appointment · new or live reviewReported as continuing: "under the ongoing strategic review" inside a director-appointment announcement. Scope, subject, adviser, timetable and outcome are not stated. The 55.48% holders (Joanne Cash and Octavius Black jointly, not Joanne alone) are named as the majority shareholder; Joanne rejoins the Board under a Relationship Agreement right. Panmure Liberum is named only as Nominated Adviser and Broker, not as running the review.
19 Oct 26 Half Year Trading Update · new or live reviewreported as continuing: "The Strategic Review remains ongoing, and we will update shareholders through further announcements as appropriate"; scope is the Company since it "may, among other outcomes, result in an offer for the Company"
Petra Diamonds Ltd.(DI)£20m
PDL · live from 05 Oct 26 · last mention 05 Oct 26
not named (unclear)
ongoing
“Petra has now appointed Questco Corporate Advisory ("Questco") to manage the Strategic Review on its behalf.”
Adviser: Questco Corporate Advisory (Questco), appointed to manage the Strategic Review
1 tagged announcement(s)
05 Oct 26 Appointment of Financial Advisor · new or live reviewAdviser appointed and interested parties invited to contact it: "All parties interested in participating or expressing any interest in this process are encouraged to contact Questco" - review is live and being run as a process
Impax Environmental Markets£175m
IEM · live from 30 Sep 26 · last mention 30 Sep 26
the whole company
ongoing
“As announced at the time, the Management and Engagement Committee commenced a process to identify and appoint an alternative investment manager or identify a strategic alternative which best suits shareholder interests going forward.”
Adviser: Hudnall Capital LLP
1 tagged announcement(s)
30 Sep 26 Half-year Financial Report · new or live reviewreported as continuing: "Hudnall Capital LLP has been appointed as the Company's financial adviser in relation to that process, and the Board looks forward to providing shareholders with further updates" and "As part of the strategic review process the Board will continue to engage"
Baker Steel Resources Trust Ltd.£148m
BSRT · live from 24 Sep 26 · last mention 24 Sep 26
the whole company
commenced
“Futura’s board have therefore engaged Clarkson Securities AS, who arranged the Nordic Bond financing, to undertake a strategic review to consider whether Futura would be better placed as part of a larger group which could provide the additional financing needed to expand the current targeted 4 million tonnes per annum of run-of-mine material up to 10 million tonnes per annum.”
Adviser: Clarkson Securities AS
1 tagged announcement(s)
24 Sep 26 Half-year Report · new or live reviewdisclosed here as a present-tense engagement ('have therefore engaged ... to undertake a strategic review') with no conclusion reported, not a mere accounting line or historic recap.
Mothercare£1m
MTC · live from 18 Sep 26 · last mention 18 Sep 26
the whole company
commenced
“Mothercare has sufficient resources to trade for a number of months and has immediately commenced a strategic review of its business model and cost base with a view to preserving value for stakeholders.”
1 tagged announcement(s)
18 Sep 26 Financial outlook update · new or live reviewannounced here as newly begun: 'has immediately commenced a strategic review'
NYCE International PLCcap n/a
NYCE · live from 09 Sep 26 · last mention 09 Sep 26
the whole company
ongoing
“On cessation of discussions, the Board initiated a review of strategic and financing alternatives aimed at strengthening the Company's financial position and supporting its future development.”
1 tagged announcement(s)
FIH Group£19m
FIH · live from 28 Aug 26 · last mention 28 Aug 26
the whole company
ongoing
“The sale of Portsmouth Harbour Ferry Company and the sale and leaseback of the warehouse facilities of Momart, which were both completed during the year, were significant elements of the ongoing strategic options review the Group is pursuing to maximise shareholder value.”
2 tagged announcement(s)
28 Aug 26 Final Results · new or live reviewdescribed as "the ongoing strategic options review" with the CEO adding "the Group continues to evaluate further opportunities to maximise shareholder value" -- explicitly live, not concluded
Hydrogenpro ASAcap n/a
0ACL · live from 21 Aug 26 · last mention 21 Aug 26
not named (unclear)
ongoing
“We completed a capital raise, and we continue the strategic review to unlock further shareholder value.”
1 tagged announcement(s)
Riverstone Energy Limited£28m
RSE · live from 19 Aug 26 · last mention 19 Aug 26
the whole company
expected: return of capitalongoing
“During the first half of 2026, the Company continued to make tangible progress in executing the Managed Wind-Down approved by Shareholders on 22 August 2025.”
Proceeds: to realise the remaining assets in an orderly manner and return capital to our Shareholders
1 tagged announcement(s)
19 Aug 26 Interim Report for the six months to 30 June 2026 · new or live reviewreported as continuing -- "continued to make tangible progress in executing the Managed Wind-Down", the report's central operational theme, not a passing background note
Amigo Holdings£35m
AMGO · live from 31 Jul 26 · last mention 31 Jul 26
not named (unclear)
commenced
“Accordingly, the Board is considering a number of options any of which could amount to a reverse takeover under the UK Listing Rules (an "RTO").”
1 tagged announcement(s)
31 Jul 26 Shareholder Update from Executive Chair · new or live reviewHeaded "Strategic Review: Considering Options for RTO"; the Board is "actively undertaking initial due diligence on a number of targets" — an acquirer-side RTO search, not a sale of Amigo or a division.
Nostrum Oil & Gas£1m
NOG · live from 20 Jul 26 · last mention 24 Jul 26
the whole company
expected: sale of the Group's businesses (an asset/business sale to a third-party purchaser, not necessarily a share sale of the listed Parent — the announcement states shareholders are not expected to receive material payments)ongoing
“These results are an important step, which is intended to provide the Group a stable platform while it contests the ongoing withholding tax cases in Kazakhstan and while the related Applicable Kazakh Restrictions subsist, and, as previously announced, will allow the Group to assess broader strategic alternatives, including potential monetisation initiatives, refinancing options and the longer-term value of the Group's asset base.”
Proceeds: the Group currently expects that any such transaction, if agreed and completed, may enable repayment of the Notes in full and repayment of the Senior Unsecured Notes in part. The Group does not currently expect that there would be any material payments to ordinary shareholders of the Parent as part of any such transaction.
2 tagged announcement(s)
20 Jul 26 CONSENT SOLICITATION · new or live review"will allow the Group to assess broader strategic alternatives, including potential monetisation initiatives, refinancing options and the longer-term value of the Group's asset base" describes an emerging, ongoing strategic-alternatives assessment tied to this debt restructuring, not merely a date-stamp for unrelated news.
Scancell Holdings£116m
SCLP · live from 23 Jul 26 · last mention 24 Jul 26
not named (unclear)
ongoing
“Following the announcement from the AFFIRM-1 Phase 3 clinical trial on October 20, 2025, in which Neuphoria announced that the trial missed its primary and secondary endpoints, Neuphoria has halted development of BNC210 in social anxiety disorder and is conducting a strategic review.”
2 tagged announcement(s)
24 Jul 26 Correction: Merger and Financing · new or live reviewpresent tense 'is conducting a strategic review', with no outcome or conclusion stated anywhere in this announcement
23 Jul 26 Merger and Financing · new or live reviewpresent tense 'is conducting a strategic review' with no stated conclusion, so treated as live/ongoing rather than historic, even though it appears only in the 'About Neuphoria' background section.
Total Graphite Plc£7m
TGR · live from 17 Jul 26 · last mention 17 Jul 26
the whole company
ongoing
“Total Graphite plc, the specialist graphite company developing an integrated mine-to-materials supply chain for the global energy transition, is pleased to provide an update on operations in Madagascar and Mozambique following the Board's graphite Strategic Portfolio Optimisation Programme ("Optimisation Programme") of the Group's operations and development priorities initiated in June 2026.”
Adviser: AlbR Capital Limited
1 tagged announcement(s)
17 Jul 26 Operational Update · new or live reviewprogramme was 'initiated in June 2026' and this announcement reports it is still active -- 'Since launching the Optimisation Programme, the Board has engaged with strategic industry participants...These discussions are ongoing'
Schroder European Real Estate Investment Trust£78m
SERE · live from 13 Jul 26 · last mention 13 Jul 26
the whole company
ongoing
“As announced on 24 June 2026, the Board intends to present formal proposals to shareholders for a managed wind-down of the Company.”
Timetable: The managed wind-down process is expected to take approximately two to three years to complete.
3 tagged announcement(s)
13 Jul 26 Property Portfolio Valuation · new or live reviewrestates the wind-down as an active, continuing process with its own timetable ('expected to take approximately two to three years to complete'), not merely used to date unrelated news.
Oryx International Growth Fund Ltd.£184m
OIG · live from 07 Jul 26 · last mention 07 Jul 26
Spire Healthcare Group
expected: sale of the companyongoing
“the Spire sale process remains ongoing”
1 tagged announcement(s)
07 Jul 26 Annual Financial Report · new or live reviewdescribed as 'remains ongoing' -- reported as a continuing process, not a new announcement or a concluded outcome
Stale · 1 — no mention for 6+ months
Comptoir Group plc£5m
COM · live from 20 May 25 · last mention 20 May 25
the whole company
ongoing
“With a new Board of Directors in place, a comprehensive strategic review is currently underway, focusing on growth priorities, operational performance, and long-term value creation.”
Timetable: The outcome of this review will inform a refreshed strategic direction, which the Board intends to communicate to shareholders and stakeholders later in the year.
1 tagged announcement(s)
20 May 25 FY 2024 Results · new or live reviewReported as continuing in the FY2024 results: "a comprehensive strategic review is currently underway"; it covers growth, operations and value creation, not a sale or disposal, so it is a live review of strategy rather than a takeover signal.
Division / asset · 23
a review of part of the business: a disposal in the making
Morgan Advanced Materials£708m
MGAM · live from 05 Nov 26 · last mention 05 Nov 26
Thermal Products
expected: disposal of the reviewed businessongoing
“The Group has commenced formal engagement with potential buyers as part of a strategic review of its Thermal Products division, with a potential disposal under consideration; full-year results are scheduled for 11 March 2027.”
4 tagged announcement(s)
05 Nov 26 Directorate change · new or live reviewthe retiring CFO 'will continue to lead the Strategic Review of Thermal Products', so the review is reported as still under way inside a directorate-change notice; the 31 March 2027 date is tied to the CFO's transition support and is not clearly a review timetable, so it is left null.
05 Nov 26 Q3 Trading Update · new or live reviewReported in a trading update as under way: "has commenced formal engagement with potential buyers as part of a strategic review of its Thermal Products division". The scope is a division, and the text does not call it a formal sale process under the Takeover Code. The 11 March 2027 date is the results date, not a review timetable.
IMI£7.4bn
IMI · live from 29 Oct 26 · last mention 29 Oct 26
Transport
ongoing
“The strategic review of Transport is ongoing.”
3 tagged announcement(s)
29 Oct 26 Trading Update · new or live reviewreported as continuing inside a trading update: "The strategic review of Transport is ongoing."
HSBC Holdings£257.3bn
HSBA · live from 27 Oct 26 · last mention 27 Oct 26
retail business and domestic-focused small and mid-sized corporate banking operations in Türkiye
commenced
“We have commenced a strategic review of our retail business and domestic-focused small and mid-sized corporate banking operations in Türkiye.”
3 tagged announcement(s)
27 Oct 26 HSBC Holdings plc Earnings Release 3Q26 · new or live reviewReported as a live review: "We have commenced a strategic review". It covers only the Türkiye retail and SME banking operations, and the announcement says the "international wholesale client business in Türkiye is unaffected". The $0.10 in the prior is HSBC's own dividend, not an offer price.
31 Jul 26 HSBC to sell AUS Home and Personal Loan Portfolio · outcome reported hereDisposal agreed 'Following a strategic review' of HSBC Australia's retail business; this announcement is where the review's conclusion (sale of the loan portfolio to Blackstone's Virgo BidCo) is first given.
24 Jul 26 HSBC TO SELL SGP H&L INSURANCE BUSINESS TO ALLIANZ · outcome reported herethe sentence states the strategic review 'concluded that a sale would be the best outcome for all parties'; the announcement does not say whether this conclusion was disclosed earlier or is being disclosed for the first time here
Mila Resources£10m
MILA · live from 26 Aug 26 · last mention 21 Oct 26
Kathleen Valley project (KV)
expected: disposal of the reviewed businessongoing
“The upgraded MRE strengthens the Company's position as it completes a strategic review regarding the future development of Kathleen Valley.”
2 tagged announcement(s)
21 Oct 26 Final Results · new or live reviewFinal results report a live disposal process for the asset: "the Board has resolved to realise value from its interest in the KV project through a disposal process".
26 Aug 26 Upgraded JORC Resource at Kathleen Valley · new or live reviewquoted director says "The board is now reviewing the best route to realise value from Kathleen Valley" -- an active, ongoing process, not a cost line or historic recap
Travis Perkins£1.2bn
TPK · live from 15 Oct 26 · last mention 15 Oct 26
Toolstation Benelux
ongoing
“Toolstation Benelux performance remains challenging and the Group continues to explore opportunities arising from its current strategic review to address this.”
3 tagged announcement(s)
15 Oct 26 Travis Perkins: third quarter trading update · new or live reviewreported as continuing: "the Group continues to explore opportunities arising from its current strategic review", and the scope is Toolstation Benelux, not the whole group
Newmark Security PLC£10m
NWT · live from 29 Jul 26 · last mention 15 Oct 26
Access Control
expected: disposal of the reviewed businesscommenced
“Following thorough strategic reviews of both Safetell and Access Control, the Board has reached unanimous conclusions that the sale of these businesses is the best path forward and the Safetell disposal was completed on 30 September 2026.”
4 tagged announcement(s)
15 Oct 26 Final Results · new or live reviewReports a live disposal process for Access Control: 'A disposal of the business would therefore be the disciplined and logical decision in the best interests of shareholders, and this process has now commenced'. The Safetell review has already ended in a completed disposal, so it is not the live item.
Rio Tinto£121.6bn
RIO · live from 15 Jul 26 · last mention 14 Oct 26
Borates business and Rio Tinto Iron & Titanium
ongoing
“We are advancing our strategic reviews and are actively testing the market for our Borates business and evaluating options for Rio Tinto Iron & Titanium.”
4 tagged announcement(s)
14 Oct 26 Third quarter production results · new or live reviewreported as continuing in a production update: "We are advancing our strategic reviews and are actively testing the market for our Borates business"
15 Jul 26 Second quarter production results · new or live reviewdescribed as 'advancing' and 'actively testing the market' — an in-progress process reported as continuing, not a historic recital or cost line
Mutares Se & Co Kgaacap n/a
0UTK · live from 14 Oct 26 · last mention 14 Oct 26
Nord Gas Solutions
ongoing
“Mutares is evaluating potential strategic exit alternatives for NGS, including a potential public listing in the Nordics in the coming months.”
Timetable: including a potential public listing in the Nordics in the coming months
1 tagged announcement(s)
14 Oct 26 EQS-News: Mutares portfolio company Nord Gas ... · new or live reviewannounced here as 'Strategic exit alternatives under evaluation'; the reviewing company (Mutares, a Frankfurt-listed PE holding) is not UK-listed and the subject is its portfolio company NGS, so this is a disposal/IPO review of a portfolio asset, not a possible takeover of a UK-listed company
YouGov£306m
YOU · live from 06 Aug 26 · last mention 13 Oct 26
Shopper
ongoing
“The extension provides the Company with flexibility as it conducts the strategic review of the Shopper business while continuing to invest in our products, panel and platform.”
4 tagged announcement(s)
13 Oct 26 Results for the year ended 31 July 2026 · new or live reviewReported as continuing: "The Shopper strategic review is ongoing"; no adviser, FSP status, outcome or proceeds stated in the text provided (the prior's £10.8m figure is a FY25 dividend, not an offer price).
06 Aug 26 FY update, banking facility, CEO appointment · new or live reviewReported as continuing inside a trading update: "as it conducts the strategic review of the Shopper business" — a live review of a division, not the whole company; no adviser, timetable or FSP status stated here.
Alien Metals Limited NPV (DI)£9m
UFO · live from 03 Aug 26 · last mention 08 Oct 26
the complete iron ore portfolio
expected: potential sale or other transactioncommenced
“Following the leadership transition completed on 16 July 2026, the Board and management team have commenced a portfolio-wide review.”
3 tagged announcement(s)
08 Oct 26 Loan Facility Extension & Corporate Update · new or live review"The Company is reviewing the optimal commercial pathway for the complete iron ore portfolio" and "undertaking a strategic assessment" describe a live review of an asset portfolio (options include JV, partnership or sale), not the whole company; Strand Hanson is the Nomad, not named as running the review.
30 Sep 26 Results for the Six Months Ended 30 June 2026 · new or live reviewreported as continuing: "progressing its strategic review of the Pilbara Iron Ore Portfolio" with an "indicative, non-binding offer" under negotiation
03 Aug 26 Corporate and Strategic Update · new or live review"have commenced a portfolio-wide review" and "supporting a review of strategic alternatives across Alien's Pilbara iron ore portfolio" - announced here as a live review
Aterian£5m
ATN · live from 07 Oct 26 · last mention 07 Oct 26
Eastinco Limited (Rwanda-based mineral trading subsidiary)
ongoing
“The Board continues to review the optimal long-term structure for the trading business to maximise shareholder value. As Eastinco establishes a consistent record of gross profit and builds its capacity to grow, the Company is evaluating strategic alternatives that could accelerate expansion, enhance flexibility, and help ensure the value of the trading platform is fully recognised. No decisions have been made.”
1 tagged announcement(s)
07 Oct 26 Q3 2026 Rwanda Trading Update · new or live reviewLive review of the Eastinco trading subsidiary only, not the whole company; the text names no disposal, sale process, adviser, timetable or proceeds, so the 'disposal likelier than takeover' reading is inference and should not be relied on.
Metlen Energy & Metals PLC£5.9bn
MTLN · live from 07 Oct 26 · last mention 07 Oct 26
METKA Group (METLEN's construction, concessions and PPP investments, and facility management businesses: METKA ATE, M Concessions S.A. and Unison S.A.)
commenced
“In this context, METLEN is reviewing strategic options, which include a potential listing of METKA on Euronext Athens.”
Proceeds: The strategic review is being undertaken with a view to providing METKA with additional capital to support its growth and expansion, thus further enhancing its self-funding capacity and financial autonomy.
1 tagged announcement(s)
07 Oct 26 Announcement · new or live reviewannounced here as live: "METLEN is reviewing strategic options, which include a potential listing of METKA on Euronext Athens"; a partial IPO with METLEN retaining majority control, not a sale of the company
Informa£11.0bn
INF · live from 06 Oct 26 · last mention 06 Oct 26
Academic business, Taylor & Francis
commenced
“We have therefore formally launched a separation process to review all options that will best support the business going forward.”
Timetable: The outcomes of this review will be reported alongside the Group’s 2026 Full Year Results in March 2027
1 tagged announcement(s)
06 Oct 26 Growth, Focus & International Expansion · new or live reviewannounced here: "we have launched a separation process, reviewing all options" for Taylor & Francis, a division, so a disposal/separation rather than a takeover of Informa
Emv Capital£13m
EMVC · live from 24 Sep 26 · last mention 24 Sep 26
the technology
status unclear
“EMV Capital was engaged during the period to conduct a strategic review identifying the most effective route to commercialising the technology at scale.”
1 tagged announcement(s)
24 Sep 26 Interim Results · new or live reviewreported as work done 'during the period' with a pipeline still building post-period, so treated as live/ongoing — but flagged: this is a strategic review of portfolio company DeepTech Recycling's reactor technology, conducted BY EMV Capital as adviser, not a review of EMV Capital plc itself or of any of EMVC's own divisions/assets, so it carries no takeover or disposal signal for the listed company
Sancus Lending Group Limited NPV£9m
LEND · live from 15 Sep 26 · last mention 15 Sep 26
Channel Islands lending activities, including the Hawk JV
commenced
“We have consequently commenced a strategic review of our Channel Islands lending activities, including the Hawk JV, and have recognised a £14.0m non-cash impairment charge to adjust the carrying value of the Hawk JV in these results (2025 H1: £nil).”
Timetable: I intend to provide a full strategic update by the time of the release of our results for the year ending 31 December 2026.
1 tagged announcement(s)
15 Sep 26 Interim Results, Share Issue and TVR · new or live reviewCEO states 'We have consequently commenced a strategic review of our Channel Islands lending activities' -- explicitly announced as starting now, not a cost line or background reference.
Jubilee Metals Group£73m
JLP · live from 14 Sep 26 · last mention 14 Sep 26
Tjate platinum group metals project
ongoing
“The Company has received expressions of interest from various companies and is reviewing these interests as part of its strategic review of the asset.”
1 tagged announcement(s)
14 Sep 26 FY2026 Production and Operational Update · new or live reviewpresent-tense 'is reviewing these interests as part of its strategic review of the asset' describes an active, ongoing process, not a concluded or background one
Goodwin Plc£1.1bn
GDWN · live from 28 Aug 26 · last mention 09 Sep 26
Mechanical Engineering Division
expected: disposal of the reviewed businessongoing
“During the year, and as announced post period-end on 7th August, 2026, the Board committed to pursuing a potential disposal of a substantial part of the Mechanical Engineering Division and appointed Rothschild & Co as its financial adviser to initiate an active sale process of its constituent business units, to maximise value for shareholders whilst ensuring continuity for all stakeholders, including customers, and the long-term prospects of the business.”
Adviser: Rothschild & Co
Timetable: The disposal process is being actively pursued in accordance with the Board's approved plan, which targets completion within the next twelve months, and shareholders will be kept informed of material developments as appropriate.
Proceeds: The Board currently expects that a substantial part of the cash proceeds from any disposal resulting from its strategic review of the Mechanical Engineering division will be paid to shareholders.
3 tagged announcement(s)
28 Aug 26 Preliminary results for the year ended 30 Apr 2026 · new or live reviewdescribed as continuing since the 7 Aug 2026 announcement: 'The sale process is progressing well, and the Group has been in discussions with a number of potentially interested parties' -- an active, unconcluded process, not a first announcement or a reported outcome.
Team Internet Group plc£97m
TIG · live from 24 Jul 26 · last mention 07 Sep 26
Domains, Identity & Software business
ongoing
“Further to the Company's announcement on 15 June 2026, the strategic review of the Group's Domains, Identity & Software business continues to progress, with discussions advancing with selected parties.”
Timetable: any agreed transaction is expected to complete around the year end
3 tagged announcement(s)
07 Sep 26 Unaudited Interim Results · new or live reviewreported as ongoing this period -- 'at an advanced stage, with discussions ongoing with a view to reaching a transaction in the near term' -- not a conclusion or mere background reference
TT Electronics£322m
TTG · live from 02 Sep 26 · last mention 02 Sep 26
Components
expected: disposal of the reviewed businessongoing
“Following the completion of the Components strategic review the Board is evaluating a potential divestment and has received encouraging indications of interest.”
2 tagged announcement(s)
02 Sep 26 Half-year Report · new or live reviewreview is described as complete but the resulting process is active and current: "the Board is evaluating a potential divestment and has received encouraging indications of interest", with outcome still "subject to value"
Michelmersh Brick Holdings PLC£68m
MBH · live from 01 Sep 26 · last mention 01 Sep 26
the freehold buildings on the site
ongoing
“Charnwood closed all operations at the end of June and the freehold buildings on the site are currently under strategic review.”
2 tagged announcement(s)
01 Sep 26 Half Year Results · new or live reviewdescribed with present-tense 'are currently under strategic review', reporting an active process, not a concluded one or mere background
Wellnex Life Ltd£4m
WNX · live from 01 Sep 26 · last mention 01 Sep 26
brand portfolio
expected: rationalisation of the brand portfolio, not disposal of the whole reviewed business — non-core brands are being divested (Mr Bright IP process commenced, Wakey Wakey/Nighty Night sold for $50,000, Pain Away binding sale agreement subject to shareholder approval) while core brands, IP licensing and contract manufacturing are retained and invested inongoing
“A key component of the FY26 strategic review was a more disciplined assessment of the Company's brand portfolio and the capital allocated to individual brands.”
Proceeds: This marks a defining step in the Company's transformation by converting a flagship asset into capital which will be redeployed to repay debt, strengthen the Company's balance sheet, and support the Company's focus on its retained consumer healthcare and contract manufacturing operations as well as future growth opportunities.
1 tagged announcement(s)
01 Sep 26 Annual Report for Year Ended 30 June 2026 · new or live reviewreview is still producing staged outcomes as at this report — Pain Away sale only 'binding agreement...subject to shareholder approval', and the Company 'commenced a process to divest' the Mr Bright IP — so the review reads as continuing, not concluded.
Forgent PLC£4m
FORG · live from 10 Jul 26 · last mention 28 Aug 26
legacy gasification activities
ongoing
“The Board is therefore proposing to focus primarily on its mining strategy with the gasification business kept under strategic review and tight cost management.”
3 tagged announcement(s)
28 Aug 26 Interim Results · new or live reviewdescribed as continuing ('continue under strategic review'), i.e. an ongoing live process, not a historic recital or mere cost line
10 Jul 26 Publication of Circular and Notice of AGM · new or live reviewdescribed as presently 'kept under strategic review and tight cost management', an active ongoing state, not a concluded or merely historical reference
Drax Group PLC£2.7bn
DRX · live from 26 Feb 26 · last mention 30 Jul 26
Canadian operations
commenced
“Canadian operations - constrained Canadian fibre market, lower margins - commencing strategic review of options”
2 tagged announcement(s)
26 Feb 26 Annual Financial Report · new or live reviewAnnounced in this results release: "commencing strategic review of options" for the Canadian pellet operations (also "reviewing strategic options to maximise value"), so it is a live review of a business unit, not the whole company.
Concluded · 7
an outcome reported since the last live mention
IG Group Holdings£4.4bn
IGG · live from 08 Jul 26 · last mention 22 Oct 26
the whole company
outcome reported
“Alongside the new holding company and organisational model, the strategic review is evaluating other routes to maximise shareholder value, including acquisitions to accelerate growth, the Group's listing venues, and potential combinations of parts of the Group with other industry participants.”
Timetable: its outcomes will be set out at a Strategy Update in autumn 2026
Outcome 22 Oct 26: The event will set out the priorities arising from the strategic review announced on 19 March 2026, alongside its maintained medium-term guidance and an updated capital allocation framework.
5 tagged announcement(s)
22 Oct 26 Capital Markets Event · outcome reported hereUnder the heading "Outcomes of the strategic review" the announcement reports the review's results (Jersey redomicile, three-division model, Underdog acquisition), with no sale of the company indicated.
08 Jul 26 New holding company proposal and trading update · new or live reviewannouncement is explicitly 'an update on the strategic review announced on 19 March 2026', with fresh outputs (new HoldCo, org model) disclosed here and further outcomes still pending for 'a Strategy Update in autumn 2026' -- the review is ongoing, not concluded or merely historic.
Brown Advisory US Smaller Companies£174m
BASC · live from 23 Sep 26 · last mention 07 Oct 26
the whole company
outcome reported
“On 8 July 2026, the Board announced it was conducting a Strategic Review of the future of the Company.”
Outcome 07 Oct 26: Further to the Company’s announcement on 8 July 2026, the BASC Board has completed a comprehensive strategic review of the future of the Company.
2 tagged announcement(s)
07 Oct 26 Proposed Scheme of Reconstruction · outcome reported here"the BASC Board has completed a comprehensive strategic review" and the conclusion (a section 110 reconstruction into JUSC with a cash exit option) is first given in this announcement; the Takeover Code is stated not to apply.
23 Sep 26 Annual Financial Report · new or live reviewreported as continuing, per 'The Strategic Review remains ongoing and there can be no certainty as to its outcome'
Sabien Technology Group£1m
SNT · live from 13 Jul 26 · last mention 05 Oct 26
the whole company
suspended
“As announced on 21 May 2026, the Board commenced a review of strategic initiatives intended to accelerate long-term shareholder value.”
Outcome 05 Oct 26: Following encouraging commercial engagement in the development of potential opportunities for COF’s Regenerated Green Oil (“RGO”) technology in Canada and the north-eastern United States, the Board has concluded to suspend the previously announced strategic review of the Company’s interests in COF and b.grn.
2 tagged announcement(s)
05 Oct 26 Strategic Update · outcome reported herereview is suspended in this announcement: "the Board has concluded to suspend the previously announced strategic review of the Company’s interests in COF and b.grn"
13 Jul 26 Year End Trading Update · new or live reviewdescribed in its own section with detail on process and current state, and "Those discussions remain ongoing" reports it as a live, continuing process rather than background or an accounting line.
Litigation Capital Management Limited (DI)£2m
LIT · live from 31 Jul 26 · last mention 30 Sep 26
not named (unclear)
concluded - no action
“The Strategic Review that was first announced on 15 September 2025 continues to progress and the waiver extension is reflective of Northleaf's ongoing support while LCM works towards a long-term resolution of its capital position.”
Outcome 30 Sep 26: The agreement on the terms of a long-term amendment with Northleaf to the debt facility marks the end of the Strategic Review, which was launched during the financial year.
5 tagged announcement(s)
30 Sep 26 Full year results for the year ended June 2026 · outcome reported hereresults announcement is where the conclusion is first given: "Strategic Review concluded with no resulting transaction", followed by an orderly run-off
01 Sep 26 Covenant Waiver Extension · new or live reviewreview is invoked only as context for why Northleaf continues to grant covenant relief; the announcement's actual subject is the waiver extension, and no new scope/timetable/outcome detail about the review itself is given beyond a formulaic 'continues to progress' and a promise to update 'in due course'
31 Jul 26 Covenant Waiver Extension · new or live reviewreported as continuing: "continues to progress" and "Management will provide an update on the progress of the Strategic Review in due course"
Fevara plc£73m
FVA · live from 11 Aug 26 · last mention 30 Sep 26
not named (unclear)
outcome reported
Outcome 30 Sep 26: This concluded the strategic review to refocus and streamline the organisation.
2 tagged announcement(s)
30 Sep 26 Trading Update · outcome reported here"This concluded the strategic review to refocus and streamline the organisation" reports the review's conclusion, the Chirton disposal being the 'final milestone', in this announcement; it is a refocusing review, not a sale process.
Nacon SAScap n/a
0A9N · live from 20 Jul 26 · last mention 20 Jul 26
the whole company
completed
“In this context, the Company has carried out an in-depth strategic review of its activities in order to focus its investments on the lowest-risk projects and to build a solid and sustainable operating model.”
Timetable: The transformation plan, which will be presented shortly, is based primarily on four priority areas
1 tagged announcement(s)
20 Jul 26 PRESS RELEASE: NACON: ANNUAL RESULTS 2025-202... · new or live reviewthe review itself is described in the past tense as already carried out ('has carried out an in-depth strategic review'), not as underway; only the resulting transformation plan remains to be presented shortly
Pacsco Ltd£0m
PACS · live from 02 Feb 26 · last mention 02 Feb 26
Mozambique Agricultural Businesses
expected: disposal of the reviewed businessdisposal agreed
“Consequently, the Directors consider that the interests of Shareholders and other stakeholders will be best served by undertaking the Disposal.”
Timetable: the long stop date for completion of the Disposal has been extended by agreement with Chepstow to 31 March 2026
1 tagged announcement(s)
02 Feb 26 FY 2025 Results · new or live reviewthe earlier strategic review is recited as past action; the live matter is the shareholder-approved Disposal of the Mozambique Agricultural Businesses to Chepstow, still awaiting Bank of Mozambique approval before the 31 March 2026 long stop date