(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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TT Electronics PLC, up 10% at 159.80 pence, 12-month range 123.40p-265.20p. The Woking, England-headquartered manufacturer of electronic components strikes a pension scheme deal, removing it of any "investment, longevity, interest rate or inflation risk". It has completed the buy-in of all its UK defined benefit pension liabilities, offering it an "immediate GBP6 million cash flow benefit". In addition to the "immediate" GBP6 million cash flow injection, it will also see an equivalent annual free cash flow improvement in future years.
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Pendragon PLC, up 6.7% at 28.80 pence, 12-month range 18.00p-29.00p. The 'put up or shut up' deadline for Hedin Mobility Group AB has been extended to December 9. The PUSU deadline is when the Hedin must announce a firm intention to make an offer or that it does not intend to make an offer. Hedin in September confirmed that it approached Pendragon with a 29p per share offer.
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SMALL-CAP - LOSERS
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MJ Gleeson PLC, down 2.4% at 346.38p, 12-month range 334.62p-808.00p. The stock extends losses after a 5.1% slump on Friday. The housebuilder on Friday warned of rising cancellations, prompted by lower demand.
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Pod Point Holdings PLC, down 6.3% at 71.40p, 12-month range 46.00p-288.75p. The electric vehicle charging services firm says growth in the plug-in vehicle market "has slowed markedly" in the second half of 2022, owing to supply chain problems. For 2022, it expects revenue of GBP70 million, up 14% from GBP61.4 million. However, it expects an adjusted loss before interest, tax, depreciation and amortisation of GBP7 million, swinging from adjusted Ebitda of GBP58,000. "Whilst it is today difficult to predict the outcome for 2023, we are prudently assuming that these supply chain and macroeconomic issues extend into 2023, and thus the group expects full year revenues for 2023 to be in the region of GBP85 to GBP90 million," Pod Point says.
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By Eric Cunha; ericcunha@alliancenews.com
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Tt Electronics (TTG)
MJGleeson (GLE)
Pod Point (PODP)