(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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Amigo Holdings PLC, up 14% at 5.18 pence, 12-month range 2.00p-29.50p. The guaranteed loans provider notes it has made a "significant improvement" to its scheme redress proposals - after the UK regulator told the company it will not appear at the upcoming sanction hearings. The scheme is being proposed to settle claims following probes from UK regulators into mis-sold loans and the way that Amigo dealt with customer complaints. "The FCA has made clear that it will continue to engage closely with Amigo, taking into account the outcome of the sanction hearings," Amigo says on Monday. It notes, however, the FCA has told the company it does not consider it "necessary to appear at the sanction hearings either to oppose the schemes or to present any evidence of its own concerning the schemes unless the court requests or otherwise requires assistance from it." Chief Executive Gary Jennison says: "There remain significant obstacles to overcome, including the need for a significantly dilutive equity issue, to recapitalise the ongoing business given the requirements of the schemes for the transfer of virtually all existing assets to the redress creditors."
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Lamprell PLC, up 5.2% at 26.30 pence, 12-month range 25.20p-67.90p. Signs memorandum of understanding with New York-listed energy services firm NOV Inc to support its delivery of three 1 gigawatt offshore floating wind farms for Cerulean Winds, the UK-based floating offshore wind farm and green hydrogen infrastructure developer. "Under the terms of the MoU, NOV has stated its intent to use Lamprell as its provider for the fabrication, assembly and outfitting in relation to the construction of NOV designed tri-floaters to be used as floating foundations for the three wind farms," the company explains.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Amigo (AMGO)
Cloudbreak (CDL)