The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Videndum PLC, up 3.0% at 257.5 pence, 12-month range 225p-355.5p. Reports that The Wellcome Trust Ltd on Thursday increased its voting rights to 6.07% (all attached to shares), from 5.25%. Says Wellcome Trust now has a notifiable interest in the voting rights of 5.7 million ordinary shares of 20 pence each in Videndum, representing 6.07% of Videndum’s issued ordinary share capital. Late on Thursday, broker Jefferies cut its price target for Videndum to 425p per share from 450p, but maintained its ’buy’ recommendation.
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Capricorn Energy PLC, up 2.2% at 214 pence, 12-month range 142.454p-342.885p. Says it has been notified by Woodside Energy Group Ltd that the production condition under the sale and purchase agreement, related to the disposal of its production sharing contract interests in Senegal, has now been met as there has been at least 30 days of continuous production on the asset. Reiterates that it may be entitled to an additional contingent payment of either $25 million or $50 million if the average Brent oil price during the first six months of production exceeds the $55 per barrel or $60 per barrel thresholds. Production commenced in June with Brent oil price averaging around $80/bbl to date, and Capricorn expects the contingent payment in early 2025. Further reminds investors that Woodside, as recipient of the tax assessment related to Capricorn’s disposal of the assets in 2020, has commenced an action in the High Court of Dakar disputing this assessment in Q3 2024. Says it remains committed to returning any available proceeds of the contingent payment to its shareholders.
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SMALL-CAP - LOSERS
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Triple Point Energy Transition PLC, down 1.6% at 46.25p, 12-month range 46.15p-71.9p. Says it is in active discussions regarding a payment plan with P3P Partners regarding deferred consideration for the sale of its CHP Portfolio. Portfolio comprises loans to Harvest, Glasshouse and Spark Steam, and the disposal was facilitated through a refinancing by P3P Partners LLP amounting to £17.5 million in total. Disposal comprised an immediate payment of £14.5 million received in June 2024, together with three subsequent payments of £1 million. These were due to be received on September 30 2024, June 30 2025 and September 30 2026, under a promissory note agreement. However the first £1 million instalment ‘was only partially paid’. Says that ‘Accordingly, the group has reserved all its rights under the promissory note agreement.’
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