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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Superdry PLC, up 2.6% at 16.87 pence, 12-month range 14.26p-135.80p. The clothing retailer Superdry confirms it is working with advisors to consider ‘the feasibility of various material cost saving options’. Sky News on Saturday had reported that Superdry is working with PricewaterhouseCoopers on a restructuring plan that could involve store closures and job cuts. The plan could involve a company voluntary arrangement, an insolvency mechanism that enables businesses to reduce their liabilities to creditors, Sky said without citing sources. This would allow Superdry to close underperforming shops and force through rent cuts, it said. Superdry on Monday says the new cost review builds on the cost saving initiatives it has already carried out as part of its turnaround strategy.
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Digital 9 Infrastructure PLC, up 18% at 29.00p, 12-month range 23.98p-89.00p. Shares in the investor jump, as it concludes its strategic review. Digital 9 says it plans to put forward a proposal for a managed wind-down of the company. It notes that the decision was carefully considered. The board intends to immediately commence sale preparations for its wholly-owned assets ahead of launching competitive processes later this year. ‘Throughout the strategic review process, the board’s primary objective has always been to maximise shareholder value going forward. Having carefully considered a number of options, we have ultimately concluded that a managed wind-down of the company is likely the best route to achieve this objective and seek to address the discount to NAV that impacts our shareholders,’ Charlotte Valeur, interim independent chair of D9, says.
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GB Group PLC, up 0.9% at 274.60p, 12-month range 202.80p-380.60p. The software company sees its stock rise. Peel Hunt raised its rating to ’add’ from ’hold.’
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SMALL-CAP - LOSERS
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On the Beach Group PLC, down 5.2% at 152.11p, 12-month range 81.24p-184.20p. Shares in the online beach holidays retailer fall, after a slow start to 2024. Over the year-to-date, the stock is down 9.7%
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