(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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Hyve Group PLC, up 4.2% at 112.30 pence, 12-month range 83.05p-158.2p. The events business agrees to buy 121 Group (HK) Ltd and 121 Partners Ltd for initial consideration of GBP21 million, with estimated total consideration after earn-out to be between GBP42 million and GBP50 million. Places 13.8 million shares to raise GBP14.8 million and also announces direct subscription by investment funds managed by Strategic Value Partners LLC to raise further GBP14.3 million. Proceeds to be used to fund acquisition consideration. Adds that it has secured waivers to its leverage and interest cover covenants up to and including March 2023.
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SMALL-CAP - LOSERS
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MetalNRG PLC, down 28% at 0.2915p, 12-month range 0.28p-1.25p. The natural resources and energy investment company says dispute has arisen with former director, Pierpaolo Rocco. Says concerns had come to attention to MetalNRG board around the time of Rocco's departure announcement that his interests in BritEnergy Holdings LLP, partner in BritNRG joint venture with MetalNRG, had potentially been, or had become, significant.
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Metro Bank PLC, down 19% at 106.73p, 12-month range 87.95p-163p. Shares in the retail bank slump after agreeing to end talks over a possible takeover offer by private equity firm Carlyle Group. Both parties announced the decision but neither gave a reason. "The board continues to strongly believe in the standalone strategy and future prospects of Metro Bank," the lender says.
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EnQuest PLC, down 15% at 19.1p, 12-month range 10.68p-27.45p. Says 2021 average net group production, including Golden Eagle, to be around 45,000 barrels of oil equivalent per day. This would be below the bottom end of the 46,000 to 52,000 barrels range reaffirmed in September. "Group production has been challenging, largely driven by performance at Magnus and a recent unplanned shutdown at Kraken, combined with a supplier driven delay in the pipeline replacement in Malaysia," says Chief Executive Amjad Bseisu.
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By Lucy Heming;Â lucyheming@alliancenews.com
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Metalnrg Plc (MNRG)
Enquest (ENQ)
Metro Bank (MTRO)