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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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John Menzies PLC, up 25% at 586.00 pence, 12-month range 202.50p-599.00p. Spurned suitor National Aviation Services announces it has entered into contracts to buy 12.1 million shares in the aviation services firm at 605 pence each, GBP73.4 million in total. The shares represent a 13% stake. The deal means that any takeover of John Menzies by NAS will not be made at a price lower than 605p. That sum is more than double the company's closing share price on February 2, the day NAS made its second proposal to the John Menzies board. Menzies currently has a market capitalisation of around GBP540 million. A 605p offer would value it at GBP556.0 million.
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BATM Advanced Communications Ltd, up 7.1% at 52.79 pence, 12-month range 0.45p-53.50p. The networking technology and medical lab systems firm expects 2021 revenue and earnings before interest, tax, depreciation and amortisation to be "slightly ahead of market expectations". "Looking ahead, the group entered the new year with a substantially higher backlog from ongoing operations than at the same point of the prior year and the strong momentum of 2021 has continued. Accordingly, the group remains on track to deliver significant growth for full year 2022 in line with market expectations," BATM says.
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SMALL-CAP - LOSERS
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Tullow Oil PLC, down 3.3% at 50.54p, 12-month range 33.26p-66.22p. Shares weaken after a 6.3% advance on Wednesday. The West Africa-focused oil and gas producer on Wednesday said it has received USD75 million in contingent consideration after a final investment decision was taken for the Tilenga project in Uganda and the East African Crude Oil Pipeline.
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By Eric Cunha; ericcunha@alliancenews.com
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