SMALL-CAP WINNERS & LOSERS: Focus Xplore down after raising GBP75,000

Mon, 09th Mar 2026 11:11

(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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Zegona Communications PLC, up 0.9% at 1,720.00 pence, 12-month range 510.00p-1,880.55p. Berenberg raises its price target on Zegona to 2,300 pence from 1,600 pence and reiterates a 'buy' rating following completion of AXA's acquisition of a 40% stake in FiberPass. Zegona notes Vodafone Spain generates EUR400 million in upfront proceeds, of which EUR200 million is to fund the share buyback announced in November. FiberPass is now owned 55% by Telefonica, 40% by AXA and 5% by Vodafone Spain.

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SMALL-CAP - LOSERS

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Focus Xplore PLC, down 17% at 0.025p, 12-month range 0.025p-0.060p. The exploration company raises GBP75,000 through the issue of convertible loan notes maturing on December 31, 2027. Focus Xplore also proposes the appointment of David Russell as executive director and Antony Legge as non-executive chair, succeeding Sean Wade.

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Ferrexpo PLC, down 2.8% at 48.89p, 12-month range 41.30p-87.23. The iron ore producer restarts production at its Ferrexpo Poltava Mining subsidiary, with one pellet line now in operation and exports resuming to eastern and central Europe. Ferrexpo warns, however, of potential "material negative consequences" following the collapse of Swiss lender MBaer Merchant Bank, where it holds around USD3 million of its approximately USD30 million net cash. While the company expects to recover the funds in full, the timing remains uncertain, and it says alternative banking arrangements may be required to continue making commercial payments outside Ukraine.

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By Eva Castanedo, Alliance News reporter

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