14th Oct 2025 10:23
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
----------
SMALL-CAP - WINNERS
----------
Cobra Resources PLC, up 15% at 4.58p, 12-month range 0.88p-6.20p. The mineral exploration and development company announces "highly favourable" metallurgical study results from a sample at the Boland ionic rare earth project in Australia. Cobra notes recoveries of 68% terbium, 63% dysprosium and 62% samarium. "Christmas has come early with these results," Managing Director Rupert Verco says.
----------
Robert Walters PLC, up 9.0% at 127.50 pence, 12-month range 116.50p-389.00p. The recruiter says market conditions "remain fragile", and it continues to expect that a recovery will only "develop very gradually". Net fee income in the third quarter of the year declines 13% annually to GBP69.6 million, it says. Year-to-date, it is down 15% to GBP209.6 million. "Our year-on-year fee income performance during the third quarter improved slightly compared to the second, albeit with some divergence across our geographic portfolio. Encouragingly, Asia Pacific, our largest segment by net fee income, saw broad-based improvement and UK specialist recruitment grew year-on-year. Europe, however, continued to be challenging. Whilst we are seeing signs of sustained improvement in a select number of hiring markets, overall conditions globally remain fragile. As such, our planning assumption continues to be that recovery in hiring markets will develop very gradually," Chief Executive Officer Toby Fowlston says.
----------
SMALL-CAP - LOSERS
----------
Imaging Biometrics Ltd, down 4.2% at 1.15p, 12-month range 0.52p-1.35p. The healthcare imaging software firm announces a deal to acquire an 86% stake in Kirkstall Ltd from investment firm Truetide PLC. The stake is Truetide's entire holding in Kirkstall, which has developed a technology that can provide life-like conditions for cell growth. "Its patented technology is used by researchers in academia and drug development and provides a way to model the behaviour of multiple human organs interconnected by a system that mimics the flow of blood in the body. It can significantly increase the physiological relevance of research," IB says. It expects to exercise an option that will see it take sole ownership of Kirkstall, as part of a "shareholder agreement". The consideration for 100% of Kirkstall will be GBP170,000. It notes GBP146,421 will be paid to Truetide in a consideration satisfied by the issue of an unsecured convertible loan note. The note has a 6% annual interest rate. Truetide holds a 29% stake in IB. Both firms note that Truetide cannot issue a conversion notice for the note if the result of doing so would mean Truetide's stake in IB tops 30%. Truetide shares were 9.1% lower on AIM. Truetide was formerly known as Braveheart Investment Group PLC.
----------
Reach PLC, down 3.5% at 62.17p, 12-month range 61.17p-99.80p. The newspaper publisher says revenue in the third quarter of 2025 declines 2.5% on-year. Print revenue alone falls 3.9%, including a 13% fall in advertising revenue. Digital revenue, however, rises 2.1%.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Robert WaltersReach PlcCobra ResourcesImaging Bio