£350k Contract Win and Funding Update
Summary by AI BETAClose X
24th September 2026
RC FORNAX PLC
(“RC Fornax” or the “Company”)
£350k Contract Win
and
Funding and Capital Allocation Update
RC Fornax (AIM:RCFX), the UK-based consultancy delivering outcome-based engineering solutions to the defence sector's most critical platforms, is pleased to announce that it has secured a second contract through the Public Sector Resourcing framework (the “PSR Framework”) with a total value of approximately £350,000.
The formal purchase order has been received and will see RC Fornax provide Project Management Office support to a UK Government client for an initial period of six months. Furthermore, the Board currently expects, subject to RC Fornax performance under the contract and PSR budget allocation, that the contract will be extended for an additional six months. Should such an extension be granted, the contract would generate the Company, in aggregate, revenue of between £650k - £700k.
This contract follows the Company’s recently announced £4.0 million selection through the PSR Framework, which remains on track for delivery as planned. The traction with the PSR Framework with such a short space of time demonstrates its effectiveness as a route to accessing new government business, and further evidences the increasing levels of demand for RC Fornax’s specialist capabilities.
The Company now has revenue visibility over £9.1 million of secured, anticipated and selected revenue for FY27, and continues to develop a strong pipeline of opportunities with a focus on delivering sustainable, profitable growth.
Funding and Capital Allocation Update
As announced on 18 September 2026, the Board has commenced a process of evaluating the optimal funding structures for different parts of the Group.
Although this assessment remains ongoing, the Board can confirm that:
- it is not assessing an equity fundraising for RC Fornax plc as part of this solution, in line with its focus on minimising dilution for existing shareholders;
- it does not currently expect there to be a need for additional funding for the core business (being the Output-based Engineering Services and People divisions) as the Company progresses towards cash generation on a monthly basis, although a working capital debt facility remains in consideration given the pace of growth; and
- any future funding for SME Procure, to be determined alongside evidence of commercial transaction, will be undertaken directly through SME Procure Ltd, a wholly owned subsidiary of RC Fornax plc.
The Company will provide further updates in due course as appropriate.
Paul Reeves, Chief Executive Officer of RC Fornax, commented:
“We are very pleased to have secured this contract through the PSR framework so soon after announcing our £4.0 million selection.
“This latest award demonstrates the effectiveness of PSR as a route for RC Fornax to access and win new government business, and provides further evidence of the opportunities available to the Group through this framework.
“Importantly, we are seeing this translate into contracted revenue, with this latest award providing a further £350,000 of revenue visibility and now giving us approximately £9.1 million of secured, anticipated and selected revenue entering FY27.
“We continue to see a meaningful pipeline of opportunities through PSR and are focused on converting that demand into sustainable, profitable growth.
“We do not expect additional funding to be required for the core business as we progress towards cash generation, while any investment in SME Procure will remain linked to evidence of commercial traction and will be undertaken directly through SME Procure Limited rather than the plc.”
For more information, please visit www.rcfornax.co.uk or contact:
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RC Fornax PLC Paul Reeves, CEO
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+44 (0)161 823 7137 info@rcfornax.co.uk |
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Strand Hanson Limited (Nominated Adviser) Christopher Raggett Rob Patrick Harry Marshall
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+44 (0) 20 7409 3494 |
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Cavendish Capital Markets Limited (Broker) Stephen Keys / George Lawson – Corporate Finance Dale Bellis / Harriet Ward – Sales and ECM (Corporate Sales)
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+44 (0) 20 7220 0500 |
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BlytheRay (Financial PR & IR) Megan Ray Said Izagaren |
+44 (0) 20 7138 3204 |
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 2021 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.
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MAR
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