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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TheWorks.co.uk PLC, up 13% at 44.00 pence, 12-month range 26.10p-69.30p. Shares in the arts and crafts-focused retailer surge in a positive read-across after unlisted peer Hobbycraft reported improved sales. Hobbycraft said revenue in the seven weeks to Boxing Day climbed 7.2% annually. ‘Once again, this year was all about people handmaking for Christmas. Many customers were looking for ways to add that extra sparkle to their festivities, from custom-made gifts to DIY home decor such as wreaths, brush-lettered baubles, and crackers,’ Hobbycraft said. Hobbycraft is owned by London-listed investment firm Bridgepoint Group PLC. Bridgepoint shares were up 1.6%.
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SMALL-CAP - LOSERS
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Topps Tiles PLC, down 6.3% at 47.90p, 12-month range 37.00p-67.60p. The stock falls after a see-saw session on Friday eventually saw the tiler seller close flat. The company on Friday urged investors to vote down measures that major shareholder MS Galleon requisitioned at its annual general meeting. Topps Tiles explained it had become aware that MS Galleon has been contacting some of its shareholders individually with information which contradicts previous statements made to Topps Tiles about the link between sourcing and MS Galleon’s interest in the firm. Topps Tiles also said it believes MS Galleon may be preparing to launch its Nexterio tile retail brand in the UK, establishing a competitor to Topps Tiles and thus creating a ‘further material conflict of interest’ around sourcing. MS Galleon requisitions include a proposal to remove Topps Tiles Chair Darren Sharpland.
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Nanoco Group PLC, down 27% at 41.00 pence, 12-month range 16.05p-72.60p. The stock surrenders some of Friday’s hefty gain, which was prompted by the latest twist in its patent dispute with Samsung Electronics Co. The quantum dot developer on Monday said a judge has granted a 30-day stay to allow Nanoco and Samsung to agree terms to a legal settlement.
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