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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Tullow Oil PLC, up 8.9% at 33 pence, 12-month range 21.82p-49.26p. The oil and gas explorer and producer enters into a USD400 million five-year notes facility agreement with Glencore Energy UK Ltd, part of Glencore PLC. Says facility is available for drawing upon, and it will use proceeds to manage the liability of its senior notes maturing in March 2025. Also enters into oil marketing and offtake contracts with Glencore Energy for its crude oil entitlements from Jubilee and TEN fields in Ghana and the Rabi Light entitlements in Gabon. "Today's announcement demonstrates our ability to access long-term capital from a variety of sources and this facility is a material step in our refinancing strategy, following the successful and equity accretive tender offer in June," says Tullow CEO Rahul Dhir.
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Harworth Group PLC, up 2.5% at 102.5p, 12-month range 95.4p-128.5p. The land regenerator secures planning approval from Leeds City Council to develop 800,000 square feet of industrial and logistics space at its Skelton Grange site. It was formerly the location of the Skelton Grange Power Station, and Harworth acquired it in 2014. The approved plans will see the development of the space across five units, each between 126,000 and 202,000 square feet in size. "Skelton Grange demonstrates Harworth's unique skillset in identifying and acquiring complex brownfield sites, devising a masterplan that realises their potential and then progressing this through the planning system to unlock value," says Chief Executive Lynda Shillaw.
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SMALL-CAP - LOSERS
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Asos PLC, down 1.0% at 385.3p, 12-month range 320.33p-1,015p. The online fashion and cosmetic retailer's shares fall as Barclays cuts its price target to 350p from 445p. The bank maintains its 'equal weight' rating, however.
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By Elizabeth Winter, Alliance News senior markets reporter
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