SMALL-CAP WINNERS & LOSERS: EnQuest in talks for merger with Serica

(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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EnQuest PLC, up 12% at 12.26 pence, 12-month range 10.34p-17.02p. North Sea-focused oil and gas producer Serica Energy PLC, up 6.5%, confirms that it is in talks for a possible merger with EnQuest, an oil and gas company with operations in the UK and Malaysia. Says an offer by EnQuest for Serica is planned via a reverse takeover. EnQuest has until April 4 to announce its intention to make an offer, or to announce it does not intend an offer for Serica.

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Eurocell PLC, up 1.4% at 149.00p, 12-month range 111.5p-189p. The manufacturer, distributor and recycler of window, door and roofline products has completed the acquisition of Alunet for GBP29 million in total. Consideration comprises an initial payment of GBP22 million and deferred consideration of approximately GBP7 million payable in four annual instalments beginning in 2026, Eurocell says. Adds there is potential for further performance-related payments of up to GBP6 million. Says the acquisition advances its strategy by "significantly strengthening the group's position in residential aluminium systems and composite doors, and [adding] garage doors to our product portfolio". Alunet "includes a stable of innovative fast growing home improvement brands", with its four businesses including aluminium systems house Alunet Systems.

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SMALL-CAP - LOSERS

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Life Science REIT PLC, down 2.5% at 33.65p, 12-month range 31.5p-44.3p. The real estate investment trust has agreed a five-year lease extension with Carl Zeiss Ltd at Cambourne Park Science & Technology Campus from 2028 to 2033. Says the rent will remain unchanged but subject to review in 2028, and that Carl Zeiss will undertake a programme of works including replacing gas boilers and installing photovoltaic panels.

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By Emma Curzon, Alliance News reporter

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Enquest

Eurocell