29th May 2025 10:06
(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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Digital 9 Infrastructure PLC, up 3.2% at 8.27 pence, 12-month range 7.52p-23.62p. The London-based investor in internet infrastructure such as data centres and subsea fibre says it has now completed the divestment of its entire stake in the EMIC-1 project for a final consideration of USD43 million, net of the USD2.6 million previous announced transaction costs. These proceeds, plus the release of around USD10 million of additional construction commitments on the project, will allow Digital 9 to "significantly" deleverage its balance sheet and repay GBP40 million towards its revolving credit facility "imminently". The remaining balance on the facility is GBP13 million, which the company expects to repay from further divestment proceeds and working capital surpluses "in due course".
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Shires Income PLC, up 3.1% at 265.00p, 12-month range 210.00p-268.00p. The London-based investment trust says its net asset value total return for its financial year that ended March 31 was 9.4%, against a 10.5% return on its benchmark, the FTSE All-Share index, and compared to a 5.1% return the year before. Shires Income declares a total dividend of 14.80 pence per share, up 2.8% from 14.40p a year prior. "We cannot predict how global markets will fare over the coming 12 months. However, with the volatility we have seen, particularly in the US market, the UK may be seen as a more attractive market to invest in than previously. With a high level of income compared to other markets, our UK focus can offer resilient income for investors," says Chair Robin Archibald. "This is one of the attractions of investing in a closed-ended company, with modest equity gearing, which can provide above average income for shareholders from a well-diversified portfolio of quality investments."
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SMALL-CAP - LOSERS
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Odyssean Investment Trust PLC, down 0.3% at 150.00p, 12-month range 110.00p-181.50p. The Exeter, England-based investor in small-cap companies says its net asset value per share at March 31 is 137.9 pence, down 11% from 154.4p a year before. NAV total return for the year that ended March 31 was negative 10.7%, against a negative 0.4% return on the DNSC ex IT plus AIM index and compared to 3.7% a year prior. "Although the uncertainties driven by the tariff announcements have created market volatility, at the time of writing, it feels like markets are past the point of peak panic," says Chair Linda Wilding. The company remains confident in the portfolio's underlying value and is focused on driving long-term NAV per share growth. Odyssean anticipates "a comfortable recovery and potential medium-term gains without additional share issuance".
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By Emily Parsons, Alliance News reporter
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Related Shares:
Digital 9Shires Inc.Odyssean Inves.