(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
----------
SMALL-CAP - WINNERS
----------
Petropavlovsk PLC, up 58% at 2.41 pence, 12-month range 1.30p-29.35p. Receives waiver from Gazprombank to sell gold to third parties and has found new gold buyers. The waiver of Gazprombank's offtaker rights relates to USD87.1 million owed to the bank that was originally due April 26 under Petropavlovsk's Russian subsidiaries' revolving credit facilities. In addition, the gold miner announces its four main operating companies applied to the Russian government for a waiver of the country's current moratorium on bankruptcy filings. The companies are Pokrovskiy Rudnik JSC, Albynskiy Rudnik LLC, Malomirskiy Rudnik LLC and TEMI LLC. However, Gazprombank "may revoke such waivers at any time and may elect not to issue further waivers," Petropavlovsk explains. On April 20, the Russian bank demanded the immediate repayment of USD201.0 million under a committed term facility and repayment of UD87.1 million due under Petropavlovsk's Russian subsidiaries' revolving credit facilities by April 26.
----------
SMALL-CAP - LOSERS
----------
Chill Brands Group PLC, down 14% at 2.50 pence, 12-month range 2.50p-69.00p. Chief Executive Callum Sommerton says past year has been "exceptionally challenging". Packaged goods firm notes it is yet to make a significant financial investment in its online activities. Awaiting shareholder approval on GBP3.5 million fundraising, which will be partly used to settle the USD800,000 outstanding balance for the purchase of the Chill.com domain. Adds: "Company intends to engage with brokers and other industry professionals to fully and thoroughly appraise the value of the Chill.com domain. This exercise will be complex due to the intangible nature of the domain, however the company intends to provide an update as soon as it is practicable to do so." Will look to "simplify" model going forward. "Company will concentrate on building closer ties with retail partners by equipping them with the marketing collateral, product knowledge, and on-demand sales support needed to establish the Chill brand as a leader within targeted areas and demographics," it says.
----------
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
