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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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John Menzies PLC, up 31% at 441.13 pence, 12-month range 202.50p-475.00p. Shares hit 12-month high as aviation-services provider rejects a GBP468.7 million takeover approach from National Aviation Services Holding. John Menzies says the approach was for 510.00p in cash for each share held, up from a previous approach of 460.00p. The latest price was a 52% premium to the company's closing share price of 335.00p on Tuesday. The company says proposal is "entirely opportunistic, conditional and that the terms fundamentally undervalue Menzies and its future prospects."
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Galliford Try Holdings PLC, up 3.1% at 185.54p, 12-month range 118.30p-213.00p. The construction company says its Building and Highways units have been appointed to a "major new" public sector framework in the North West of England. "The GBP1.8 billion framework is the latest iteration of the Procure Partnerships North West Framework, which is open to public sector bodies across the region to bring construction projects to market," the company explains.
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Photo-Me International PLC, up 1.5% at 75.76p, 12-month range 5.05p-79.70p. The photo booth operator says recent trading has exceeded board expectations. Notes a recovery in its key markets has continued through the first quarter of its new financial year, meaning its performance has topped internal expectations. Photo-Me put the result down in part to a management reorganisation.
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SMALL-CAP - LOSERS
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Chesterfield Resources PLC, down 3.9% at 6.96p, 12-month range 6.32p-15.00p. The minerals company raises GBP700,000 via a placing and subscription of 10 million new shares at a price of 7.00p per share. Price is 3.4% discount to the 7.25p closing price on Tuesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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