The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
----------
SMALL-CAP - WINNERS
----------
PRS REIT PLC, up 6.8% at 95.60 pence, 12-month range 65.50p-96.81p. The Manchester, England-based real estate investment trust’s shares rose, after Harwood Capital Management Ltd announced that a group of leading investors have served a requisition for an extraordinary general meeting on the company. The investors, who hold just over 17% of PRS REIT, have stipulated the requisition requires the removal of Non-Executive Chair Stephen Smith, Non-Executive Director Steffan Francis, and the appointment of Harwood’s Robert Naylor and Christopher Mills in their respective places. If appointed, the requisitioning investors want the new directors to work with the remaining board members, in order to undertake a review of options to return value to shareholders.
----------
SMALL-CAP - LOSERS
----------
Odyssean Investment Trust PLC, down 1.1% at 173.15p, 12-month range 133.00p-181.50p. The London-based investment trust’s shares slipped slightly ahead of the publication of its first-quarter results on Friday. The firm published a disheartening update in June, with net asset value per share at March 31 falling 3.7% to 154.4 pence from 160.4p 12 months earlier. NAV total return per share worsened to negative 3.7% from negative 2.2%. At the time, Odyssean said: ‘The company’s performance reflected markets and volatility driven by stock-specific issues, but was below the broader market return of [around] 3%. Unlike in previous years, none of the portfolio companies benefited from takeover activity, which in a concentrated portfolio can make a significant difference to returns.’
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
