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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GCP Asset Backed Income Fund Ltd, up 4.6% at 64.82 pence, 12-month range 51.2p-87p. The London-based investor, which backs medium to long-term fixed or floating rate loans secured against physical assets or cash flows, receives around £35 million in cash from the early prepayment of loans. The loans in question are secured against a portfolio of UK nurseries. GCP Asset Backed Income Fund will put the money towards its existing debt, or repurchase its shares should there be a material discount to net asset value per share. Expects to repay outstanding £24 million or so balance of revolving credit facility by the end of the year.
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SMALL-CAP - LOSERS
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Canadian Overseas Petroleum Ltd, down 28% at 1.10p, 12-month range 0.80p-19.80p. The Calgary-headquartered oil and gas firm says its non-binding Cole Creek joint venture letter of intent has been terminated, and it plans ‘no further discussions at this stage’. Back in July, COPL had announced the potential joint venture with ‘an established energy company’ to develop and exploit oil reserves at the Cole Creek in Converse and Natrona counties, Wyoming. ‘The company will provide a further update before year end regarding its strategy relating to the development of its Cole Creek and Barron Flats Shannon Units,’ COPL says on Monday.
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Superdry PLC, down 4.4% at 40.15p, 12-month range 33.40p-168.00p. Shares in the clothing retailer return most of last week’s gain. 2023 has proved to be a difficult year for the firm, with its shares down 71% in the year-to-date.
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