The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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Motorpoint Group PLC, up 5.4% at 264.50 pence, 12-month range 249.25p-401.00p. The vehicle retailer completes sale and leaseback of its freehold branch in Stockton-on-Tees. Sale proceeds total £5 million, and it has simultaneously entered into a 25-year lease at an initial rent of £350,000 per year. Adds it has reached agreement with its lenders to further increase its available stocking facility by £30 million to a total of £195 million. ‘Both transactions provide further firepower for us to invest in future growth strategies across multiple initiatives in line with our strategy,’ says Chief Executive Mark Carpenter.
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Severfield PLC, up 3.9% at 66.60p, 12-month range 60.05p-84.84p. Expects to deliver results for year ended March 31 in line with management’s previous expectations. UK & Europe order book hits record £479 million at April 1, while Indian joint venture has performed profitably and in line with expectations in the second half of the year. ‘The outlook for the group remains positive, although we remain mindful of the ongoing effects of Russia’s invasion of Ukraine,’ it says.
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SMALL-CAP - LOSERS
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JPMorgan Russian Securities PLC, down 12% at 102.95p, 12-month range 76.00p-894.00p. The Russia-focused investor has struggled since Russia’s invasion of Ukraine in late February. The stock has fallen 86% since the start of 2022. Net asset value as at April 19 was 48.5p per share, down sharply from 781.6p at the start of February.
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Petropavlovsk PLC, down 9.9% at 1.91p, 12-month range 0.78p-29.35p. The gold miner says Russian lender Gazprombank, which is on the UK sanctions list, has sent a notice demanding the repayment of loans. Gazprombank wants immediate repayment of $201.0 million due under Petropavlovsk’s committed term facility agreement with the bank and repayment by Tuesday next week of UD87.1 million due under the company’s Russian subsidiaries’ revolving credit facilities. ‘The company is considering the implications of these notices with its advisers,’ says Petropavlovsk.
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