2nd May 2025 13:20
(Correcting that Amigo Holdings PLC made a narrowed loss of GBP200,000 against the prior year's GBP12.7 million loss, as opposed to swinging to loss from profit.)
(Alliance News) - 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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Atalaya Mining Copper SA, up 14% at 401.25 pence, 12-month range 302p-485.5p. The producer of copper from the Proyecto Riotinto complex in south-west Spain will, with effect from Wednesday, May 7, be added to the FTSE 250 index, as announced by FTSE Russell on Thursday. "We are honoured to be joining the FTSE 250 Index," comments Chief Executive Officer Alberto Lavandeira. "This represents an important milestone for Atalaya, which restarted the Riotinto copper mine in 2015 and has since grown into one of the leading pure-play copper producers on the London Stock Exchange. We are excited about the years ahead and plan to grow our company further."
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Middlefield Canadian Income PCC, up 3.4% at 120.25p, 12-month range 101.5p-131.25p. The investment trust has proposed a rollover whereby shareholders would have the option to receive shares in a newly established and London Stock Exchange-traded fund or ETF, in the form of an authorised UCITS (or 'undertakings for collective investment in transferable securities'), in exchange for their holdings in the fund. Expects this transaction to involve the voluntary winding up of the company and the fund. Says the ETF would be managed by its investment manager, Middlefield Ltd, and would offer continued exposure to its existing investment objective and policy. Shareholders who do not want this exposure would be able to participate in an uncapped cash exit at close to the company's net asset value per share, Middlefield Canadian says, or to receive a combination of both ETF shares and cash. "The board continues to have strong conviction in the company's investment proposition and its ability to deliver a high level of income and long-term capital growth," Chair Michael Phair says. "However, the board has listened to feedback from shareholders and recognises that the constrained liquidity and persistent discount to NAV remain impediments to new and further investment."
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SMALL-CAP - LOSERS
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Amigo Holdings PLC, down 7.7% at 0.3p, 12-month range 0.185p-0.75p. The former mid-cost credit provider, which is now in run-off, reports a pretax loss of GBP200,000 for the year ended March 31, narrowed from the prior year's GBP12.7 million loss. Revenue has fallen to GBP100,000 from GBP3.5 million. (These are interim results as Amigo has extended its reporting period by six months to September 30 to preserve cash for creditors.) "The wind down of our legacy businesses is almost complete, having delivered [GBP194 million] in cash redress and refunds to scheme creditors," says CEO & Chief Financial Officer Kerry Penfold. "Mistakes of the past have cost Amigo and its shareholders dearly, but this chapter is now drawing to a close. We continue our search for a reverse takeover partner to enable the company to continue in the longer term and bring some value to shareholders that would otherwise not be possible."
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By Emma Curzon, Alliance News reporter
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Related Shares:
Atalaya MiningMiddlefield PrfAmigo