SMALL-CAP WINNERS & LOSERS: Alkemy Capital unit teams with Veolia

Fri, 31st Jan 2025 10:07

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

----------

SMALL-CAP - WINNERS

----------

Alkemy Capital Investments PLC, up 29% at 177.00 pence, 12-month range 33.50p-185.00p. The firm's Tees Valley Lithium unit is to team with Veolia Water Technologies. "This collaboration aims to support the development of TVL's first lithium hydroxide refinery train," Alkemy Capital adds. "Veolia's proven experience in lithium processing, highlighted by their role in various lithium hydroxide production facilities, brings unparalleled expertise to TVL's mission to deliver battery-grade lithium hydroxide." Alkemy said TVL is "well-positioned" to seal a front end engineering design study with Veolia's support. Veolia Water Technologies is a unit of Paris-listed Veolia Environnement SA.

----------

Ground Rents Income Fund PLC, up 4.4% at 32.35p, 12-month range 19.40p-35.00p. Ground Rents has rejected another takeover approach from Victoria Property. The London-based property investor said the proposal "remains unattractive and materially undervalues the company". Ground Rents said the latest proposal is worth 37.5 pence per Ground Rents share, a 10% increase from the prior tilt of 34p. "The board has concluded that the latest proposal remains unattractive and materially undervalues the company and that it cannot recommend the latest proposal to GRIO shareholders. Accordingly, the board is unanimously rejecting the latest proposal," Ground Rents said. The latest proposal values Ground Rents at around GBP35.9 million. Ground Rents has a market capitalisation of GBP31.0 million.

----------

SMALL-CAP - LOSERS

----------

Rank Group PLC, down 2.6% at 87.49p, 12-month range 63.60p-99.80p. Shares in the gambling firm continue to return some gains Friday, despite powering higher early Thursday after half-year results. The Mecca bingo and Grosvenor Casinos owner said Thursday pretax profit more than tripled to GBP34.7 million in its first half, which ended on December 31, from GBP10.4 million the year before. Shares had traded more than 5% higher on Thursday, before facing late afternoon selling pressure to close 0.2% lower. It continues to decline on Friday. Going into the results, shares had risen for four days in succession.

----------

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com