(Correcting 2020 revenue figure for Foxtons.)
(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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Amala Foods PLC, up 53% at 0.65 pence, 12-month range 0.33p-2.14p. The food technology company says discussions with Terra Rara UK Ltd continue and it has executed an updated term sheet upon which a definitive agreement will be based. Amala Foods terms with Terra Rara will provide shareholders 30% of enlarged company.
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McKay Securities PLC, up 29% at 287.00 pence, 12-month range 193.00p-299.00p. FTSE 250 member Workspace Group PLC has agreed to buy McKay in a cash and shares deal that values its fellow London property listing at GBP272 million. Workspace offered 209 pence in cash, plus 0.115 of a new Workspace share, for each McKay share, valuing McKay shares at 297p, based on Workspace's closing price on Tuesday of 769.50p. McKay's board unanimously recommended the offer to shareholders. Acceptances have been received for the offer representing 37% of McKay shares.
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Raven Property Group Ltd, up 15% at 11.50p, 12-month range 9.50p-36.90p. The Russia-focused property company says it is working to do all it can to protect the interests of all stakeholders in light of Russia's invasion of Ukraine. However, says it does not expect to pay ordinary shareholder distributions for 2021 or the preference share coupon for the first quarter of 2022 as a result of sanctions against Russia.
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SMALL-CAP - LOSERS
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Foxtons Group PLC, down 0.2% at 34.60p, 12-month range 33.45p-70.00p. The estate agent says 2021 was a year of progress and is confident of delivering further growth in 2022. For 2021, Foxtons swings to pretax profit of GBP5.6 million from loss of GBP1.4 million in 2020, on revenue of GBP126.5 million, up from GBP93.5 million. Foxtons declares a final dividend of 0.27p for the first time since 2017, taking full-year payout to 0.45p.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Workspace (WKP)
Foxtons (FOXT)
Amala Foods Plc (DISH)