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SMALL-CAP WINNERS & LOSERS: Photo-Me mulls CEO bid; EnQuest falls

Fri, 21st Jan 2022 10:14

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

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SMALL-CAP - WINNERS

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TheWorks.co.uk PLC, up 12% at 63.04p, 12-month range 30.23p-75.00p. Expects an "improved" annual outturn after strong Christmas trading. For the six months to October 31, the Birmingham-based stationery retailer reports a pretax loss of GBP1.0 million, narrowed from GBP4.3 million a year prior. Revenue rises 31% to GBP116.1 million from GBP88.9 million. In addition, the company says it delivered a "record Christmas".

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Photo-Me International PLC, up 1.0% at 76.32p, 12-month range 41.65p-79.70p. The Surrey-based firm, which provides instant-service equipment such as photo-booths, notes a mandatory offer by a vehicle owned by the Photo-Me's own Chief Executive Serge Crasnianski. Tibergest PTE Ltd on Friday agreed to buy 29.1 million Photo-Me shares from the Dan David Foundation, taking its and its associates' total holding to 138.0 million shares, or a 37% stake, triggering a mandatory offer under UK takeover rules. The mandatory offer is worth 75 pence per share, valuing Photo-Me's total issued share capital at GBP284.5 million. The price per share is a discount of 0.8% from Thursday's closing price. Photo-Me currently has a market capitalisation of GBP291 million. Photo-Me tells shareholders to take no action while an independent committee considers the offer.

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SMALL-CAP - LOSERS

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EnQuest PLC, down 4.8% at 20.65p, 12-month range 12.00p-27.40p. The oil and gas production firm, which operates in UK North Sea and Malaysia, falls as oil prices weaken after a notable rally this week. Brent prices hit fresh multi-year highs this week and edged dangerously close to USD90 a barrel.

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John Menzies PLC, down 2.5% at 313.00p, 12-month range 194.00p-365.65p. The Edinburgh-based aviation services and cargo handling falls, along with the wider travel sector. British Airways parent International Consolidated Airlines Group SA was 2.3% lower, while easyJet PLC was down 1.7%.

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Allianz Technology Trust PLC, down 3.7% at 282.05p, 12-month range 240.00p-373.50p. The trust's exposure to US tech equities has hurt shares on Friday. The investment firm has stakes in US tech companies such as Microsoft Corp, Apple Inc and electric car maker Tesla Inc. The tech-heavy Nasdaq Composite dropped 1.3% in New York on Thursday. It is called down 0.5% on Friday.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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