(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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Amigo Holdings PLC, up 22% at 12.90 pence, 12-month range 5.26p-30.30p. The guarantor loans provider reports "robust" trading in its financial year-to-date. Amigo says collections have remained robust since the end of the financial year on March 31. Combined with effective cost management, this has given the company a current unrestricted cash position of GBP229 million. "Overall collections have been robust since the end of the year and remain encouraging," the company says. Meanwhile, work to progress a new scheme of arrangement continues, Amigo says, with ongoing engagement with both the Independent Customers' Committee and the UK Financial Conduct Authority.
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Provident Financial PLC, up 1.4% at 338.60 pence, 12-month range 175.09p-368.60p. The subprime lender intends to return up to GBP250.0 million to shareholders by way of a tender offer at a price of 105.5% of the face value of notes held by shareholders. The tender offer applies to holders of its outstanding USD250.0 million 7.0% notes due in 2023. The outstanding principal amount of the offer is GBP175 million. Proceeds from the notes offering will go towards the repayment of debt and strengthening the capital base of the company.
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SMALL-CAP - LOSERS
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Go-Ahead Group PLC, down 6.3% at 720.00p, 12-month range 533.70p-1,463.00p. Shares in the transport operator are continuing to decline after the UK government seized control of Go-Ahead's Southeastern rail franchise on Tuesday. The stock ended 25% lower on Tuesday. Peers Stagecoach Group PLC and FirstGroup PLC were down 2.1% and 1.3% respectively in a negative read-across, having closed down 3.6% and 4.8%.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Firstgroup (FGP)
Amigo (AMGO)