3rd Sep 2024 10:51
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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RM Infrastructure Income PLC, up 6.2% at 77.18 pence, 12-month range 67.00p-80.20p. The Edinburgh-based investor, which is focused on secured debt instruments of UK small and medium-sized enterprises, announced plans for a tender offer of up to GBP20 million to be made to shareholders. The offer comes with a notice for a general meeting on September 25, and follows the start of a managed wind-down process, which began in December. Accordingly, RM Infrastructure will undertake the offer for a minimum of GBP16 million, in order to return capital to shareholders from the proceeds of the loans that have been repaid to the firm.
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SMALL-CAP - LOSERS
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Vp PLC, down 1.3% at 681.29p, 12-month range 460.00p-745.00p. The equipment rental company sees shares fall, after a good start to 2024. In the year-to-date, the stock is up 9.4%. The slight slip comes ahead of Vp's first quarter results, which are expected to be published on Wednesday. In June, the firm posted annual pretax profit of GBP2.8 million, down from GBP30.7 million a year prior, while revenue edged down by 0.8% to GBP368.7 million from GBP371.5 million. At the time, Vp noted a "solid" start to the new financial year, which it expected to be in line with expectations. However, it did note that there were still headwinds in the housebuilding market, thanks to a slight drop in activity levels.
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By Holly Beveridge, Alliance News senior reporter
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