REG - RC Fornax plc - AGM Statement

RC FornaxAnnouncement

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RNS Number : 7683X  RC Fornax plc  24 March 2026

 

 

 

24 March 2026

RC FORNAX PLC

("RC Fornax" or the "Company")

AGM Statement

 

At the Company's Annual General Meeting later today, Paul Reeves, Chief
Executive Officer of RC Fornax, will make the following statement:

 

"We are very pleased to be hosting our first AGM as a public company and
looking forward to the next 12 months with confidence. The audited accounts
presented to this meeting relate to the year ended 31 August 2025 which is of
course now behind us. However, they serve as a reminder of the challenging
period we experienced post‑IPO, driven largely by external factors -
particularly the political uncertainty following the Strategic Defence Review
- but also by our own reaction to that uncertainty and shortcomings in our
sales processes.

 

"As set out in our published results, we have now addressed those internal
issues. We have a refreshed Board, including two new independent
non‑executive directors, and a strengthened executive management committee.
Together, these changes are driving a more resilient, better-aligned and
scalable business. Importantly, these changes are already beginning to be
reflected in improved commercial traction and pipeline visibility.

 

"Whilst political uncertainty continues, the need for our outcome‑driven
services is greater than it was twelve months ago. The external threats facing
the UK are increasingly real, and funding pressures across defence persist.
Our focus on delivering greater value for money within existing budgets is
resonating strongly, resulting in increased high‑quality engagement at
senior levels across government, the Armed Forces, and both current and
prospective clients. This applies not only to our core engineering consultancy
services but also to the AI‑driven procurement tools we are developing
through SME Procure.

 

"Although tangible, visible progress in our financial performance is taking
longer than I had hoped when we listed, there are many positive developments
across the business that I am confident have the potential to deliver material
shareholder value. In that regard, we are looking forward to sharing many
exciting developments in the weeks and months ahead.

 

"Finally, I would like to take this opportunity to thank our employees,
shareholders, clients and advisers for their continued support as we continue
this journey to deliver materially better services for my former colleagues in
the Armed Forces, who deserve the very best we can provide."

 

 

For additional information, please contact:

 

 RC Fornax plc                                              info@rcfornax.co.uk (mailto:info@rcfornax.co.uk)

 Paul Reeves - CEO

 Rob Shepherd - FD

 Strand Hanson Limited (Nominated & Financial Adviser)      +44 (0)20 7409 3494

 Christopher Raggett

 Rob Patrick

 Harry Marshall

 Cavendish Capital Markets Limited (Broker)                 +44 (0)20 7908 6000

 Stephen Keys / George Lawson - Corporate Finance

 Dale Bellis / Harriet Ward - Sales and ECM

 BlytheRay (Financial PR)                                   +44 (0)20 7138 3204

 Megan Ray                                                  rcfornax@blytheray.com

 Said Izagaren

 

Notes to Editors

RC Fornax PLC is an AIM-quoted company providing outcome-based engineering
solutions to the UK defence industry. It was founded in 2020 by RAF veterans
Paul Reeves and Daniel Clark who, having also worked for a number of years as
defence contractors, are passionate about improving project efficiencies and
driving value for money in the sector.

 Web:       https://www.rcfornax.co.uk/ (https://www.rcfornax.co.uk/)
 X:         @RFornax (https://x.com/RFornax)
 LinkedIn:  RC Fornax (https://www.linkedin.com/company/rc-fornax/)

 

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