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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Capital Ltd, up 4.7% at 89.63 pence, 12-month range 74.00p-105.61p. The firm, which provides full-service mining, drilling, maintenance and geochemical analysis solutions, sell its entire shareholding in Predictive Discovery Ltd to Perseus Mining Ltd for cash of A$47.3 million, or $31.2 million. The agreement with Perseus includes a profit share arrangement whereby Capital and Perseus have agreed to share the profit 50-50 from a subsequent sale by Perseus of the sale shares. Chief Executive Officer Peter Stokes says: ‘Predictive Discovery has been an excellent investment for Capital, as well as an excellent client for Capital’s drilling business. As Predictive moves towards permitting and then construction, we see this as the right time to recycle this investment back into the broader business, particularly to lower the group’s debt levels.’
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SMALL-CAP - LOSERS
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Secure Trust Bank PLC, down 2.3% at 834.00p, 12-month range 572.00p-950.00p. The London-based savings accounts and lending services provider reports interim pretax profit of £17.1 million, up 14% from £15.0 million a year prior. Net interest income rises 8.9% to £88.2 million from £81.0 million, however, the firm cuts its interim dividend to 11.3 pence per share from 16.0p. The firm explains that while it expects ‘significant’ year-on-year profit growth, this is likely to be below previous estimates. In the near term, it expects further loan book growth in the second half, towards Secure Trust’s £4 billion target.
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