18th Jun 2024 10:42
(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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Residential Secure Income PLC, up 2.0% at 46.00 pence, 12-month range 45.00p-67.80. The investor in retirement living and shared ownership hails a "strong operational performance" in the first half to March 31. Rent collection rate for the period unmoved on-year at 99%. Net rental income rises 6.8% to GBP9.4 million from GBP8.8 million. Pretax loss narrows to GBP10.4 million from GBP30.0 million. IFRS net asset value per share falls 8.4% to 83.4p at the end of March, from 91.1p at the end of September.
Half-year dividend per share reduced to 2.06p from 2.58p.
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SMALL-CAP - LOSERS
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XP Power Ltd, down 17% at 1,294.00p, 12-month range 682.40p-2,489.20p. The power controllers maker says its full-year trading expectations remain unchanged, and it notes that suitor Advanced Energy Industries Inc will not make a takeover bid for the company. Advanced Energy notes a "lack of any progress" when it sought to engage with the XP Power board. It explains this meant it did not have access to the "due diligence necessary to make a firm offer". Advanced Energy Industries is a maker of precision power conversion, measurement, and control solutions. In May, it said it made three all-cash takeover approaches, each slightly higher than the last. The first offer in October valued XP Power's equity at GBP339 million, a second roughly two weeks later in November valued it at GBP369 million and the most recent, in May, valued it at GBP468 million. Including debt, the latest proposal had a total value of GBP571 million. XP Power says it has had no contact from Advanced Energy since rejecting the indicative proposal in May.
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By Eric Cunha, Alliance News news editor
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