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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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Kin & Carta PLC, up 8.3% at 112.00 pence, 12-month range 55.20p-243.50p. The London-based business software consultancy says Apax Partners upped its takeover offer to 120p per Kin & Carta share, valuing the firm at GBP220.3 million on fully diluted basis from a previous GBP203 million. Kin & Carta also notes it gives the company an enterprise value of GBP258 million. It now believes the new bid is fair and reasonable, unanimously recommending to shareholders that they vote in favour of the scheme at the court and general meetings. The meetings scheduled for Thursday have now been adjourned until December 21 to allow shareholders more time to consider the increased and final offer.
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Bloomsbury Publishing PLC, up 4.9% at 442.60p, 12-month range 365.00p-483.50p. The London-based publisher says it expects revenue for the financial year ending February 29 to be "comfortably ahead" of current market expectations, while pretax profit to be "materially ahead" of expectations. It says this follows "exceptionally strong" trading in the Consumer division for a number of titles. It also says the Non-Consumer division continues to trade in line with current expectations. Chief Executive Nigel Newton says: "I am delighted to report a strong period of trading which is principally driven by the continued phenomenal demand for fantasy fiction. Bloomsbury has consistently built its success on the immense talent of our authors and the exceptional hard work of our teams who support them."
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 5.0% at 19.12p, 12-month range 14.58p-91.00p. SocGen cuts the Middle East and North Africa-focused energy infrastructure company to 'hold' from 'buy', reducing its price target to 26p from a previous 103p. On Monday, Petrofac warned that it expects to miss its cash flow guidance amid delays in payments, and that it was in discussions to sell its non-core assets.
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By Greg Rosenvinge, Alliance News senior reporter
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