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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Golden Rock Global PLC, up 22% at 3.49 pence, 12-month range 1.75-11.60p. Company notes the volatility and recent rise in its share price and says it is not aware of any reason for the rise. However, confirms it is in "early stage discussions" regarding potential acquisitions. Notes that any acquisition, if completed, would constitute a reverse takeover. "We feel that the company's current share price is undervalued and would be looking to conclude any acquisition at a valuation that would represent fairer value to shareholders," the company says. Golden Rock is a Jersey-based firm seeking acquisition opportunities in the fintech sector.
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Pod Point Group Holdings PLC, up 6.0% at 72.10p, 12-month range 46.00-173.00p. The electric vehicle charging infrastructure provider enters partnership agreement with housebuilder Barratt Developments PLC. The two-year agreement will see Pod Point become a key supplier for Barratt, ensuring its new homes have charge points. The deal covers 19 of Barratt's 29 operating divisions in the UK. The partnership follows legislation from the UK government, in force since June 2022, which mandates that all new residential developments in England must have one 7-kilowatt charge point for every residence with a parking space.
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SMALL-CAP - LOSERS
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ProCook Group PLC, down 10% at 23.55p, 12-month range 23.43-48.90p. The direct-to-consumer specialist kitchenware brand swings sharply to an annual loss in the year ended April 2 and reports a decline in revenue. ProCook swings to a loss of GBP6.5 million from a profit of GBP94,000 the year prior. Revenue falls 9.9% to GBP62.3 million from GBP69.2 million. ProCook says the revenue decline is, in part, due to its decision to exit the Amazon Marketplace channels. Swing to loss reflects lower sales, gross margin declines, inflationary cost pressures and investment in capability, the company says. Notes that trading conditions in the first quarter of its new financial year have remained "challenging" with revenue 6.7% lower year-on-year.
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Schroder European Real Estate Investment Trust PLC, down 5.1% at 85.00p, 12-month range 73.20-108.50p. The property investor reports a total net asset value return of minus 4.7% in the half-year ended March 31. Says this was due to a fall in valuations. "All sectors are seeing re-pricing, driven largely by higher discount rates, partially as a result of the change in availability and cost of financing," it explains. Net asset value per share falls to 132.4 euro cents from 148.8 cents at the same time a year prior.
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By Heather Rydings, Alliance News senior economics reporter
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