(Alliance News) – The following stocks rose and fell the most among small caps on the London Main Market on Monday.
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SMALL CAP – WINNERS
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Triple Point Energy Transition PLC, up 13% to 68.80p, 12-month range 51.00p-75.00p. The company publishes its annual results and also announces that it has sold three loans for combined heat and power production. The company, which is currently in the process of realizing its assets, indicates that P3P Partners has offered to refinance the cogeneration loan portfolio. This portfolio consists of loans made to Harvest Generation Services Ltd, Glasshouse Generation Services Ltd and Spark Steam Ltd. These companies provide heat, electricity and carbon dioxide to a tomato grower on site. P3P’s refinancing offer provides for the repayment of a total amount of GBP 17.5 million. John Roberts, chairman of TPET, said: “Following shareholder approval of a managed liquidation, we are pleased to make rapid progress in realizing shareholder value in the group’s portfolio, with this refinancing reducing the number of investments within the group’s portfolio so far we have made £61.6 million, representing 92% of the value of these investments. We will continue to update the market as the implementation progresses. implementation of our plans to return value to shareholders. Its annual results show its net asset value per share at the end of the year to March 31 stood at 86.66p, down 13% from 99.44p.
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Warehouse REIT PLC, up 2.0% to 80.40p, 12 month range 68.00p-93.00p. Warehouse investor completes sale of £57.5m single-let assets in three separate transactions. The sale price is consistent with the March 31 valuations. “This brings total sales to £165.2 million since announcing our debt reduction plan in November 2022,” the statement added.
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SMALL CAP – LOSERS
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SIG PLC, down 11% to 24.45 pence, 12-month range 20.65 pence-39.36 pence. The company is reducing its outlook as the supplier of insulation, roofing and construction products reports that “market conditions have remained challenging.” It now expects underlying operating profit for 2024 to be between £20m and £30m, which is below analysts’ current range of £36.7m to £43.0m sterling. “Moderate demand continued to be a factor in the majority of the group’s markets, reflecting continued weakness in the building and construction sector. This impact was most notable in the French and German markets, as well as in end markets for our UK Interiors business Although we continue to see more robust demand in our Poland, Ireland and UK businesses, group sales were overall weaker than expected in May and in. June so far,” says SIG.
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By Eric Cunha, Editor-in-Chief of Alliance News
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