(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
----------
SMALL-CAP - WINNERS
----------
Wildcat Petroleum PLC, up 22% at 0.49 pence, 12-month range 0.35p-2.00p. The company signs a memorandum of understanding with an unnamed third party that has expressed interest in carrying out due diligence on deals that Wildcat can source from Sudan. The potential partner then will decide whether to invest directly into a deal for up to USD25 million. The third party also is prepared to invest in other petroleum projects in Africa sourced by Wildcat, following due diligence. Wildcat is a London-based investor in the upstream sector of the petroleum industry. The agreement is not legally binding.
----------
SMALL-CAP - LOSERS
----------
Cineworld Group PLC, down 19% at 0.59 pence, 12-month range 0.46p-24.45p. The cinema chain operator says that it has filed an updated supplement to its Chapter 11 bankruptcy filing. Plans to apply to the English Court for an administration order. The order will apply only to itself as the listed parent and not its operating companies or subsidiaries. These operating companies and subsidiaries will continue to operate as usual without interruption, it adds. Once administrators have been appointed, Cineworld will take steps to transfer its assets to its wholly-owned subsidiary Crown UK Holdco Ltd and a newly incorporated company. Consequently, Cineworld expects its shares to be suspended from trading in July.
----------
Braemar PLC, down 19% at 225.00 pence, 12-month range 221.00p-350.00p. The company says that it will not meet the UK Financial Conduct Authority's deadline for the publication of its full-year results. This confirms a report from Sky News on Sunday that shipbroker was likely to tell investors within the coming days that it will be unable to meet the publication deadline. As a result, the company's shares will be suspended from trading next Monday. Braemar also reports that it still expects to report record revenue and profitability in the financial year that ended February 28. Expects revenue of no less than GBP150 million, up from GBP101.3 million the year prior, and an underlying operating profit of no less than GBP20 million, nearly double the GBP10.1 million achieved last year.
----------
By Heather Rydings, Alliance News senior economics reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Braemar Shipping (BMS)
Wildcat Petrol. (WCAT)