28th May 2025 10:18
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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CQS Natural Resources Growth & Income PLC, up 2.9% at 201.10 pence, 12-month range 160.01p-207.00p. The London-based investor, which provides exposure to mining and resource-focused equities, enters a standstill agreement with Saba Capital Management LP. Under the terms of the deal, CQS will conduct a tender offer for up to 100% of its issued share capital. Following the offer, CQS will adopt an enhanced annual dividend of around 8% and reduce its investment management fee by 20 basis points. Saba has committed to vote in favour of the resolutions, and to tender all the shares it owns. Saba Founder & Chief Investment Officer says: "This outcome gives [CQS] shareholders a clear choice: full liquidity at NAV or the opportunity to stay invested in a trust with a higher dividend and a reduced management fee. It's a true win-win."
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SMALL-CAP - LOSERS
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Ricardo PLC, down 2.1% at 284.00p, 12-month range 206.00p-536.22p. Science Group PLC increases its stake in the Shoreham-by-Sea, England-based environmental and engineering consultancy to around 21.8%, at an average price of 239 pence per share, and "may or may not" increase its interest further. Science Group at the end of April asked for the requisition of a general meeting to remove Mark Clare as a Ricardo director and chair. Science Group says this follows "poor operating performance and ineffective governance at Ricardo, resulting in a significant destruction of shareholder value". The meeting date has been set for June 18, and Science Group encourages Ricardo shareholders to vote for the resolution.
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LSL Property Services PLC, down 0.7% at 293.00p, 12-month range 246.06p-355.00p. The Newcastle Upon Tyne, England-based provider of services to mortgage intermediaries and franchised estate agencies expects to deliver further profit growth in 2025 in line with current market consensus. In a statement ahead of its annual general meeting on Wednesday, the firm says it is focused on delivering "clear, earnings accretive and operational improvements by driving growth in each of our three divisions". In particular, the firm says it has delivered "material" on-year revenue growth within its Surveying arm, during the four months that ended April 30. LSL Property Services will release its interim results in September.
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By Emily Parsons, Alliance News reporter
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Related Shares:
CQS Natural Resources Growth & IncomeRicardoScience GroupLsl Prop