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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Atlas Metals Group PLC, up more than four-fold at 41.40 pence, 12-month range 6.60p-56.90p. It enters a conditional agreement to buy Universal Pozzolanic Silica Alumina Ltd, or UPSA, for £1 billion via a reverse takeover. Atlas Metals, a natural resources and energy investor formerly known as MetalNRG, says the £1 billion consideration will be settled via a share-for-share exchange by the issue of new shares in the capital of Atlas. The price is yet to be determined. UPSA has the commercialisation rights to a substantial pozzolanic silica alumina reserve in Australia, the Warialda Quarry, with 99 years of extraction rights for 250 million tonnes. Shares hit this 12-month high on Wednesday.
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Gym Group PLC, up 8.9% at 148.80p, 12-month range 119.00p-174.21p. It expects to deliver full year results at the top end of market expectations after a strong first half. Pretax profit balloons to £3.3 million in the six months to June 30 from £200,000 the year prior. Revenue rises 7.9% to £121.0 million from £112.1 million, with like-for-like growth of 3%. The firm expects full-year adjusted earnings before interest, tax, depreciation and amortisation, less normalised rent, to be at the top end of analysts’ forecast range of £50.6 million to £52.8 million, up from £47.7 million in 2024.
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SMALL-CAP - LOSERS
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Avation PLC, down 2.1% at 162.00p, 12-month range 126.50p-192.00p. Shares surrender some ground after a 4.1% advance on Tuesday.
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