<div id="readability-page-1" class="page"><div>(Alliance News) - GSK wins EU approval to expand use of its RSV vaccine Arexvy to all adults over 18, while Grainger unveils plans for a 195-home West London development, and Impax Environmental Markets outlines its tender offer plan amid continued pressure from activist investor Saba.Here is what you need to know before the London market open: ---------- MARKETS ---------- FTSE 100: called up 0.2% at 10,163.84 GBP: higher at USD1.3654 (USD1.3567 at previous London equities close) ---------- BROKER RATINGS ---------- Deutsche Bank Research raises Babcock International price target to 1,350 (1,145) pence - 'hold' ---------- HSBC cuts Glencore to 'hold' - price target 515 pence ---------- HSBC cuts Rio Tinto to 'hold' - price target 6,900 pence ---------- COMPANIES - FTSE 100 ---------- GSK says the European Commission approves an expanded indication for its respiratory syncytial virus [RSV] vaccine Arexvy, allowing use in all adults aged 18 and over. The London-based pharmaceuticals company says the shot was previously authorised only for adults over 60 and those at higher risk, but the updated decision enables rollout across the full adult population in the EU. GSK notes that around 158,000 adults are hospitalised each year in the bloc with RSV-related illness, with outcomes often more severe than in children due to under-diagnosis and higher complication rates. Sanjay Gurunathan, head of Vaccines &amp; Infectious Diseases R&amp;D, says the approval &#34;helps protect all adults aged 18 and older in Europe against RSV&#34;. Arexvy remains approved in more than 65 countries for adults over 60, and in over 60 countries – including the US and Japan – for adults aged 50 to 59 at increased risk. GSK adds it is seeking expanded indications in other geographies, including the US and Japan. ---------- COMPANIES - FTSE 250 ---------- Grainger says its Connected Living London joint venture with Places for London, the property arm of Transport for London, agrees to forward-fund and acquire a 195-home build-to-rent scheme in Chiswick, West London. The development – to be delivered by housebuilder Barratt Redrow – has detailed planning consent and regulatory approval to begin construction. It will provide 195 rental homes, including 95 discounted market rent units, alongside commercial space and resident amenities such as co-working facilities and a gym. The purchase price is GBP68.4 million, with Grainger funding 51% under the JV structure. Returns are expected to be in line with Grainger's targets for London schemes, and the company will also receive asset-management fees. Construction begins in Q1 2026, with practical completion due in late 2028 and leasing set to begin from late 2028 into early 2029. Chief Executive Helen Gordon says: &#34;This scheme further strengthens our London portfolio, complements our growing cluster in West London and demonstrates continued momentum in Connected Living London, our partnership with Places for London, delivering professionally managed, purpose-built rental homes across the capital.&#34; ---------- Impax Environmental Markets proposes a continuation tender offer, under which eligible shareholders may redeem up to 100% of their shares at close to NAV, while emphasising that the offer only proceeds if activist investor Saba Capital tenders all or &#34;materially all&#34; of its 20.7% stake. The investment trust calls a general meeting for February 23, where shareholders will vote on the special resolution required for the offer to go ahead. Chair Glen Suarez says today's published circular provides a &#34;clear and decisive choice&#34; between remaining invested in IEM's long-term environmental markets strategy or exiting at near NAV, adding that Saba's short-term agenda introduces &#34;ongoing uncertainty&#34; that threatens the mandate. All directors intend to vote for the resolution and do not plan to tender their shares. If Saba refuses to participate or blocks the vote, the board says it will proceed with a previously flagged 'exit tender offer', also for up to 100% of shares, requiring only ordinary shareholder approval and not contingent on Saba's involvement. Monday's update follows Friday's announcement, in which IEM outlined its two-stage tender plan and said it is offering Saba &#34;an exit&#34; for its GBP158 million investment to NAV. The board said on Friday the measure is necessary to prevent shareholders becoming &#34;trapped in a Saba-controlled vehicle&#34; should the activist seek greater influence. ---------- Spire Healthcare confirms that Bridgepoint Advisers Ltd and Triton Investment Advisers LLP are among potential suitors in preliminary stage discussions as part of its ongoing strategic review, following recent media speculation. The company stresses the talks are preliminary and that there is no certainty any offer will be made or what terms a potential bid might take. Under the Takeover Code, both Bridgepoint and Triton have until February 21 to announce a firm intention to make an offer or to walk away, unless the Takeover Panel grants an extension. The board says it will update the market &#34;as appropriate&#34;. ---------- Genus PLC after market close on Friday says government approves the use of its gene edit for pigs, which provides resistance to a global disease. Porcine reproductive and respiratory syndrome causes suffering and premature death to pigs, with Genus noting a study that estimated the cost of PRRS at USD1.2 billion per year in the US alone. The Basingstoke, England-based animal biotechnology and genetics says the approval of the PRRS resistant pig programme follows years of work with multiple Canadian regulators, and is an important step toward commercialisation in North America. Genus is seeking approval for the PRP gene edit in key North American export markets such as Mexico and Japan, as well as in China. ---------- OTHER COMPANIES ---------- Costain delivers &#34;another positive year&#34; in 2025, reporting higher profits. The construction and engineering group says adjusted operating profit is in line with market expectations of GBP46.4 million, while adjusted operating margin exceeds its 4.5% target. Revenue for the year is broadly stable, with second-half sales similar to the GBP525 million recorded in the first half, reflecting the rephasing of HS2 and the completion of road projects. Revenue consensus for the full year is GBP1.13 billion. Net cash closes the year at GBP190 million, ahead of the GBP171 million consensus, helped by working-capital timing benefits that will unwind in 2026. Costain also outlines plans for higher shareholder returns after reaching a new agreement with its defined benefit pension scheme, which removes the previous dividend-parity constraint. The board says it now intends to apply a 3.0x dividend cover policy from the financial 2025 final dividend, which would almost double dividend cash payments in 2026. It also signals plans for a GBP20 million share buyback programme during 2026. CEO Alex Vaughan says: &#34;It has been another positive year...securing high-quality work across our chosen growth markets. The removal of the dividend parity arrangement and current intention to both significantly increase dividend payments and undertake a new GBP20 million share buyback programme is supported by the strength of our balance sheet, substantial forward work position and confidence in our end markets.&#34; ---------- S4 Capital says full-year 2025 performance comes in ahead of its revised November guidance and above current market consensus. The advertising firm expects like-for-like net revenue to fall 8.5% from GBP754.6 million in 2024, delivering an operational Ebitda margin of around 12%. This compares with analyst expectations for GBP664 million in net revenue - a roughly 12% drop - and GBP75 million in operational Ebitda, versus GBP87.8 million achieved in 2024. Net debt is now set to be significantly below the GBP133 million consensus and beneath the previously guided GBP100 million to GBP140 million range. The company attributes this to tighter treasury discipline and stronger working-capital management. As a result, leverage is expected to fall to roughly 1.1 times operational Ebitda, better than the 1.8 times consensus and well below the company's 1.5 times target. S4 says it will recommend a final dividend of 1 pence, subject to board and shareholder approval. Executive Chair Martin Sorrell welcomes the stronger finish to the year but says &#34;much more&#34; needs to be done to return the business to net revenue and margin growth. The group will set out detailed 2026 targets alongside annual results on March 25. ---------- By Eva Castanedo, Alliance News reporterComments and questions to newsroom@alliancenews.comCopyright 2026 Alliance News Ltd. All Rights Reserved.</div></div>

GSK has received EU approval to expand its RSV vaccine Arexvy for all adults over 18, previously limited to those over 60 and at higher risk. This decision aims to protect the approximately 158,000 adults hospitalized annually in the EU due to RSV. Additionally, Grainger plans a 195-home development in West London, while Impax Environmental Markets proposes a tender offer contingent on activist investor Saba's participation. Spire Healthcare is in preliminary talks with Bridgepoint and Triton regarding potential offers amid a strategic review.

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GSK wins EU nod for RSV shot; Spire in early talks