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SMALL-CAP WINNERS & LOSERS: Zotefoams rises on ReZorce progress

15th May 2024 09:40

(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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Zotefoams PLC, up 10% at 477.00 pence, 12-month range 258.55p-482.28p. The cellular material technology provider reports "good progress" towards commercialisation of ReZorce beverage cartons. Functional cartons are now being produced at one of Refresco's facilities in Europe. It adds that Zotefoams and Refresco are now initiating quality and compliance testing procedures required for commercial production of beverage carton applications aiming for a trial market launch with a European retailer. Chief Executive David Stirling comments: "The announcements we are making today are indicative of the gathering momentum on this project. We are proud that Refresco, a world leader in its field, has recognised the potential of ReZorce and has chosen to partner with us to accelerate its commercial launch."

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SMALL-CAP - LOSERS

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Vanquis Banking Group PLC, down 1.0% at 56.03p, 12-month range 43.15p-234.00p. The lender, formerly called Provident Financial PLC, publishes first quarter trading statement for the three months of 2024. Gross customer interest earning balances fall to GBP2.22 billion from GBP2.35 billion. It explains that the fall is "due to the action taken at the end of 2023 to moderate unprofitable lending growth, as well as customers spending less in the current economic environment and paying down more debt than forecast."

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By Sophie Rose, Alliance News senior reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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