(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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LSL Property Services PLC, up 9.6% at 400.00 pence, 12-month range 151p-439.45p. Hits this 12-month high earlier on Wednesday. The estate agent and financial services provider reports 31% growth in pretax profit for 2020 to GBP20.9 million from GBP16.0 million. Board is reassured by resilience and restarts guidance with "an improved growth profile with Financial Services at the forefront", at the same time resetting the dividend policy. No final dividend declared for 2020 but dividend payments expected to recommence in the second half of 2021 following the release of interim results.
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Equiniti Group PLC, up 8.3% at 175.95p, 12-month range 96p-176.6p. Hits this 12-month high earlier on Wednesday. Receives revised non-binding proposal from Siris Capital Group LLC to buy Equiniti at 180p per share. Equiniti confirms it would be minded to recommend a firm offer on these terms.
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SMALL-CAP - LOSERS
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Go-Ahead Group PLC, down 5.6% at 1,280.55p, 12-month range 533.7p-1,463p. HSBC downgrades the public transport operator to Hold from Buy.
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Stagecoach Group PLC, down 5.7% at 94.05p, 12-month range 32.28p-110.9p. The fellow public transport firm says founders sell down stake, and plan to cut this even further over next decade. Connected parties of Brian Souter and sister Ann Gloag sell 11.6 million shares to institutional shareholders. Souter is non-executive director on Stagecoach board. Stagecoach was founded by Souter and Gloag over 40 years ago. Shares sold represented 2.1% stake in Stagecoach and reduced the overall interest of Souter, Gloag and parties connected with them to 25.0% from 27.1%. "Sir Brian Souter and Dame Ann Gloag are now aged 66 and 78 respectively and their families' financial plans are evolving. Sir Brian Souter has indicated to the company that he remains happy to continue as a non-executive director. No other members of the family are involved in the management of the company. Taking account of those factors, the family shareholders now have a ten-year plan to reduce their shareholdings in the company from the approximately 27% holding immediately prior to the disposal, to approximately 5%.
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By Lucy Heming; lucyheming@alliancenews.com
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