(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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Esken Ltd, up 3.8% at 25.95 pence, 12-month range 17.03p-39.50p. The aviation and energy infrastructure company says it expects to seek final approvals for a GBP120 million cash injection into Southend Airport by private equity firm Carlyle Global. This would release GBP100 million of liquidity into the rest of the company. For 12 months to February 28, pretax loss widens to GBP150.3 million from GBP139.4 million last year on revenue of GBP110.7 million, down from GBP142.0 million.
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Pendragon PLC, up 2.1% at 18.82p, 12-month range 7.00p-21.50p. The car dealer says it continued to make strong progress during the second quarter. Expects to report underlying pretax profit of GBP30 million for the first half of financial 2021, swinging from an underlying pretax loss of GBP31.0 million last year. Looking ahead, underlying pretax profit for financial 2021 is now expected to be in a range of GBP45 million to GBP50 million, having posted GBP8.2 million last year.
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SMALL-CAP - LOSERS
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Non-Standard Finance PLC, down 13% at 4.36p, 12-month range 2.69p-8.96p. The subprime lender posts widened pretax loss for 2020 after booking significant exceptional charges. For 2020, pretax loss widens to GBP136,000 from GBP76,000 in 2019, on revenue of GBP163,000, down from GBP181,000. It booked total exceptional charges of GBP97.8 million. NSF warns its "ability to remain a going concern is subject to a material uncertainty and is dependent upon the completion of a substantial capital raise." Says it is planning an equity raise in the region of GBP80 million to strengthen its balance sheet.
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EnQuest PLC, down 3.1% at 20.15p, 12-month range 8.67p-25.20p. The oil and gas company is to raise GBP36.1 million from offer of 190.1 million shares at 19p for Golden Eagle oil field purchase. The issue price is an 8.7% discount to the closing price of 20.80p on Tuesday. EnQuest is buying 26.7% stake in non-operated interest in Golden Eagle area from Suncor for USD325 million. EnQuest is to raise GBP18.0 million from firm placing of 94.9 million shares, plus GBP18.1 million from open offer. EnQuest says shareholders who take up full entitlement to have 5% dilution, or 10% if none as a result of the placing.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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