23rd Sep 2024 11:02
(Alliance News) - The following stocks are leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Petrofac Ltd, up 3.0% at 17.78 pence, 12-month range 10.5p-81p. Confirms extended forbearance deal, regarding the non-payment of an interest coupon on its senior secured notes, from the original deadline of Friday last week to October 18. Deal is entered into by a noteholder group primarily representing approximately 47% of the outstanding senior secured notes. Petrofac says the extension allows extra time to make progress on its financial restructuring.
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Galliford Try Holdings PLC, up 2.8% at 298p, 12-month range 212p-314p. Says its Environment business has been appointed to two lots on the new Wessex Water Capital Delivery Framework as part of Wessex Water's AMP8 delivery period. Framework is valued at GBP3.7 billion and Galliford expects the contract to be worth over GBP400 million over its initial six-year period.
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SMALL-CAP - LOSERS
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DFS Furnitures PLC, down 2.8% at 114.5p, 12-month range 99.5p-128.4p. Firm is scheduled to release its full-year results on Wednesday. UBS on Friday raised its price target to 130p from 115p, maintaining its 'neutral' rating.
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Porvair PLC, down 1.8% at 670p, 12-month range 524p-730p. Announces appointment of Hooman Caman Javvi as chief executive officer designate. Expects Javvi to join the company on January 6 next year, before assuming the CEO role when outgoing CEO Ben Stocks retires following the annual general meeting on April 15. Javvi was most recently chief operating officer at FTSE 250-listed infrastructure firm Hill & Smith PLC. Porvair also says it continues to trade in line with management expectations in the third quarter. Its order book "remains healthy" and full-year earnings "are likely to be above" those for 2023.
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By Emma Curzon, Alliance News reporter
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