(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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abrdn Property Income Trust Ltd, up 1.9% at 54.40 pence, 12-month range 44.15p-58.14p. Urban Logistics REIT urges abrdn Property Income shareholders to vote against the Custodian Property Income REIT PLC offer. Urban Logistics REIT says its alternative proposal for abrdn Property Income is superior. "A productive dialogue between the Boards of Urban Logistics and API and their respective advisers has been underway since the original indicative offer was announced. Urban Logistics and its advisers have carried out significant legal, property, financial and tax due diligence, as well as a comprehensive inspection of the API properties. In turn, API has been carrying out its own due diligence on Urban Logistics," it says. On Thurday, abrdn reaffirmed its recommendation to shareholders to vote in favour of the Custodian merger as it represents the "best outcome." In January, the two real estate investment trusts agreed to the terms of an all-share merger, which would create a trust with combined assets totalling GBP1.0 billion.
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SMALL-CAP - LOSERS
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Hipgnosis Songs Fund Ltd, down 2.6% at 60.57p, 12-month range 52.90p-99.00p. The music investment and song management company continues to fall, after a slow start to the year. In the year-to-date, the stock is down 18%.
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By Sophie Rose, Alliance News senior reporter
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Abrdn Property (API)
Hipgnosis Song. (SONG)