27th Jan 2022 11:05
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.
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SMALL-CAP - WINNERS
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Air Partner PLC, up 52% at 123.30 pence, 12-month range 62.62p-124.34p. Shares hit 12-month high with board of aviation services firm to recommend unanimously that shareholders vote in favour of takeover offer from US-based Wheels Up Experience Inc. Under the terms of the acquisition, expected to close in the first quarter, Wheels Up will pay 125.00p per share in cash, valuing Air Partner at GBP84.8 million. The offer is a 54% premium to Wednesday's closing price of 81.00p.
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Saga PLC, up 5.1% at 296.00p, 12-month range 228.34p-464.60p. The over-50s travel and retirement products company says it will combine its two tour operating businesses - Saga Holidays and Titan Travel to maximise efficiency in touring. For financial year to January 31, expects a small underlying pretax loss, but expects to return to profit in financial 2023. Says it is well-positioned as customer confidence rebuilds.
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Ricardo PLC, up 2.5%, 12-month range 352.68p-510.00p. The environmental and strategic consultancy business says trading in six months to December 31 was in line with expectations and saw a good level of new orders and a strong cash performance. "Our half-year results are in line with our expectations, and although we are seeing continued momentum in the second half, we remain cautiously optimistic as economic uncertainties remain," says Chief Executive Officer Graham Ritchie.
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SMALL-CAP - LOSERS
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AO World PLC, down 1.2% at 105.60p, 12-month range 86.00p-347.00p. The online electronics and appliance retailer launches a strategic review of its business in Germany, citing tough market conditions that saw third-quarter revenue fall by 24% on a year before there. The review will evaluate a "range of options". In the three months that ended December 31, group revenue is down 14% on a year before, but up 45% on two years before. For the UK, those comparisons are down 12% and up 47%; in Germany, they are down 24% and up 35%. Jefferies cuts stock to Hold from Buy.
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By Arvind Bhunjun; [email protected]
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