The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Upland Resources Ltd, up 22% at 1.25 pence, 12-month range 0.66p-8.98p. It confirms it has been in talks with the Sarawak state government in Malaysia as it bids to get an interest in a production sharing contract for Block SK334. Earlier this week, Upland noted Petroleum Sarawak Bhd, or Petros, is planning technical work on the onshore exploration block to enable Petros to offer the asset for competitive bidding to all interested investors. ‘In the terms and conditions of the signed joint technical study agreement between Upland and Petros, and as a medium-term strategy, Upland has certain unique advantages over other potential bidders in a competitive bidding process,’ Upland says on Thursday.
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SMALL-CAP - LOSERS
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CAB Payments Holdings PLC, down 13% at 88.26 pence, 12-month range 46.10p-307.50p. The London-based payment processing and foreign exchange company expects to report a 22% decline in gross income over the first half. Excluding dislocations in Nigerian naira and central bank interventions in the Central African and West African francs, however, it will rise 11%. ‘The business is now on a more balanced trajectory with 2023 proving to be an exceptional year. The group also believes that in 2024 there are no significant tailwinds in its major corridors. As a result, the group expects total gross income for 2024 to be marginally down compared to last year,’ CAB predicts. The firm listed in July of last year and shares sit 74% off the £3.35 initial public offering price.
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Bloomsbury Publishing PLC, down 2.3% at 684.00 pence, 12-month range 365.00p-726.00p. Shares in the publishing company fall as it goes ex-dividend, meaning new buyers do not qualify for the latest payout.
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