(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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888 Holdings PLC, up 4.8% at 111.80 pence, 12-month range 50.50p-190.30p. The William Hill owner completes the sale of its Latvian business to Finnish gaming operator Paf Consulting Abp. The EUR28.3 million sale was originally announced in May. Chair Jonathan Mendelsohn comments: "The sale of the Latvian business marks another positive step in the execution of our integration programme. This sale generates cash proceeds from a non-core market to support our deleveraging plans, as well as enabling reinvestment into our core and growth markets."
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Pharos Energy PLC, up 1.4% at 22.31 pence, 12-month range 17.74p-28.70p. The South East Asia and Middle East-focused oil and gas company wins approval from the Vietnamese government for a two-year extension of the exploration period of Block 125 and 126. Chief Executive Jann Brown says: "We are pleased to have received approval from the Vietnamese government for the two-year extension of the Block 125 & 126 exploration period. This approval shows the encouraging level of support from the government while we progress our discussions with a number of interested parties to secure a farm-in partner before drilling the commitment well on Block 125."
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SMALL-CAP - LOSERS
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Lindsell Train Investment Trust PLC, down 1.7% at 1,005.00 pence, 12-month range 944.00p-1,305.00p. The investment company reports a net asset value per share of GBP1,056.95 at March 31, down 5.1% from GBP1,113.81 at the same time a year prior. Total NAV return in the financial year that ended March 31 is negative 0.4% compared to negative 2.3% the year prior. This compares to a total NAV return of negative 1.0% for the company bench market index, the MSCI World Index in sterling, over the same period of time. The company's holding in Lindsell Train Ltd represents 40% of its NAV at March 31. Says LTL has "held back" its overall performance in recent years. Proposes a total dividend for the year of GBP51.50, up slightly from GBP51.12 the year prior.
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By Heather Rydings, Alliance News senior economics reporter
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