Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 2 corroborating channels. Tone trajectory is improving ( → ahead → → materially_ahead); last update 2026-04-16. Macro backdrop: recovery.
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Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 2 corroborating channels. Tone trajectory is improving ( → ahead → → materially_ahead); last update 2026-04-16. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in AIM. 2 of 2 channels in agreement | tone 100.0 · broker 0.0 · director — · sector 34.8 |
| Tone trajectory | improving | Tone has been improving. most recent 2026-04-16 · 5 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.8 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. hype density 0.8/1k words (6 hits in 86 scannable docs)13.7 RNS/month2025-12-02: "…d largest asset manager in the world behind the US which…2026-03-31: "…gement. It's 600 million it was at September. So we have… | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Broker actions — last 90 days (2) | |||
| 2026-04-16 | reiteration | Canaccord Genuitybuy | GBX 67 |
| 2026-04-16 | reiteration | Canaccord GenuityBuy | 67p |
| Director deals — last 90 days | |||
| — | None | No director deals in the last 90 days. | |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (76% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in AIM.
2 of 2 channels in agreement
Tone has been improving.
most recent 2026-04-16 · 5 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.8 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative consistent with historical baseline.
Canaccord Genuitybuy
Canaccord GenuityBuy
No director deals in the last 90 days.
Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 2 corroborating channels. Tone trajectory is improving ( → ahead → → materially_ahead); last update 2026-04-16. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in AIM. 2 of 2 channels in agreement | tone 100.0 · broker 0.0 · director — · sector 34.8 |
| Tone trajectory | improving | Tone has been improving. most recent 2026-04-16 · 5 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.8 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. hype density 0.8/1k words (6 hits in 86 scannable docs)13.7 RNS/month2025-12-02: "…d largest asset manager in the world behind the US which…2026-03-31: "…gement. It's 600 million it was at September. So we have… | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Broker actions — last 90 days (2) | |||
| 2026-04-16 | reiteration | Canaccord Genuitybuy | GBX 67 |
| 2026-04-16 | reiteration | Canaccord GenuityBuy | 67p |
| Director deals — last 90 days | |||
| — | None | No director deals in the last 90 days. | |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (76% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in AIM.
2 of 2 channels in agreement
Tone has been improving.
most recent 2026-04-16 · 5 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.8 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative consistent with historical baseline.
Canaccord Genuitybuy
Canaccord GenuityBuy
No director deals in the last 90 days.