The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
----------
SMALL-CAP - WINNERS
----------
Artemis Alpha Trust PLC, up 5.2% at 390.30 pence, 12-month range 260.00-393.39. The London-based investment trust, which is focused on the UK, said that heads of terms have been agreed for a proposed combination of its assets with those of Aurora Investment Trust. Artemis Alpha’s assets will be rolled into Aurora in exchange for the issue of new ordinary shares in Aurora, with a cash exit option for up to 25% of Artemis Alpha’s existing issued capital also available. The scheme is expected to become effective in the fourth quarter of this year, after which Aurora Investment will change its name to Aurora Alpha. Chair Duncan Budge said: ‘After consulting our major shareholders, the board is pleased to propose the combination of Artemis Alpha and Aurora, which will bring together two investment companies that have long shared a high-conviction investment approach to create a larger, more attractive proposition for investors with enhanced secondary market liquidity and a lower cost ratio.’
----------
SMALL-CAP - LOSERS
----------
Downing Renewables & Infrastructure Trust PLC, down 1.9% at 76.72p, 12-month range 73.00p-95.84. The investor in solar parks, wind farms and hydroelectric assets has committed to buy three Swedish hydropower plants and their associated storage reservoirs for a total investment of around £5 million. The combined expected annual average production of the plants is around 7 gigawatt hours, with a potential increase of 0.5 gigawatt hours after further upgrades have taken place. All three hydro plants are located on the Norasjon River in the Orebro County in Sweden.
----------
Copyright 2024 Alliance News Ltd. All Rights Reserved.
