WINNERS & LOSERS: Time Finance backs buyout; Nostrum sells assets

(Alliance News) – The following are the leading risers and fallers among London Main Market small-cap and AIM stocks on Monday.

———-

Main Market small-cap winners

———-

Zenith Energy Ltd, up 20% at 4.9 pence

BSF Enterprise PLC, up 15% at 1.325p, executes terms for partnership with Schakau, aimed at expanding lab-grown leather portfolio

InvestAcc Group Ltd, up 11% at 186.5p, says to beat earnings expectations

Kendrick Resources PLC, up 10% at 8p

Robert Walters PLC, up 7.8% at 158.5p, up almost 40% so far in August

———-

Main Market small-cap losers

———-

Nostrum Oil & Gas PLC, down 31% at 2.75p, sells Kazakh operations but warns of little to no proceeds to shareholders

Defence Holdings PLC, down 17% at 0.85p

Headlam Group PLC, down 11% at 8.7p

British & American Investment Trust PLC, down 8.6% at 9p

London BTC Co Ltd, down 7.6% at 1.525p

———-

AIM winners

———-

GCM Resources PLC, up more than double at 8.25p, welcomes Bangladesh government statement on energy policy

Oracle Power PLC, up 22% at 0.0475p

Mothercare PLC, up 21% at 0.85p, fell 18% on Friday

European Metals Holdings Ltd, up 16% at 13.5p

Cadence Minerals PLC, up 13% at 5.25p

———-

AIM losers

———-

ImmuPharma PLC, down 14% at 3.7575p

Eden Research PLC, down 11% at 2.05p

Buccaneer Energy PLC, down 10% at 0.0095p

Zanaga Iron Ore Co Ltd, down 9.2% at 3.35p

Forgent PLC, down 9.1% at 0.01p

———-

Small-cap and AIM movers in focus:

———-

GCM Resources, up more than double at 8.25 pence, 12-month range 2.86p-12.50p. The Bangladesh government is “finalising the country’s national energy mix, with renewable energy, gas and coal-based power generation all under active consideration”, GCM reports, noting a statement from Minister of Finance Khasru Mahmud Chowdhury. “New gas exploration initiatives, alongside further work on solar and coal-based power generation, are already underway,” the firm, focused on the Phulbari coal and power project in Bangladesh, says. GCM adds: “The board notes that these reported statements are consistent with the government of Bangladesh’s stated commitment to diversifying the country’s energy generation mix to include coal-based power. The board will continue to monitor developments in this regard as they relate to the Phulbari coal and power project in north-west Bangladesh.”

———-

Nostrum Oil & Gas PLC, down 31% at 2.75p, 12-month range 1.00p-4.50p. The oil and gas exploration and production company says it has struck a deal to sell its Kazakhstan operations for USD304.6 million to Altaris Holding Ltd. “The company expects to begin an orderly wind-down process of the group as soon as reasonably practicable after completion of the sale,” Nostrum says. It expects to repay outstanding amounts of senior secured notes in full from the proceeds of the deal. “The board of the company therefore considers that, in light of the recent maturity of the notes on 30 June 2026 and the group being unable to repay the amounts due under the notes at that time, the overall transaction described in this announcement will result in the best outcome for the group and its stakeholders.” It warns that it does not expect that “residual proceeds available for distribution to ordinary shareholders of the company will be material, if any”.

———-

Tertiary Minerals PLC, up 12% at 0.0725p, 12-month range 0.032p-0.070p. The mineral development firm, with projects in Zambia, the US state of Nevada, and Sweden, reports a new shallow zone of copper mineralisation has been spotted. The find is in an area it labels the Western Zone at Target A1 of the Mushima North project in Zambia.

———-

Investacc Group Ltd, up 11% at 186.5p, 12-month range 163.00p-192.45p. The pension administrator says it has seen a “positive performance” since its annual results in March. It now expects revenue and earnings before interest, tax, depreciation and amortisation for 2026 to be ahead of market expectations. It puts the market view at GBP25.7 million for revenue and GBP9.1 million for Ebitda.

———-

Time Finance PLC, up 8.9% at 57.16p, 12-month range 40.11p-60.00p. Time Finance has agreed to a GBP55.1 million takeover from Bentley Park, the parent of asset-based lender Ultimate Finance. Bentley Park will pay 59.1 pence in cash per share in Time Finance, an asset, loan and invoice finance provider for small and medium enterprises. The price is a 13% premium to Time Finance’s 52.50p closing price on Friday. “Bentley Park’s interest in the acquisition is driven by the opportunity to create a further scaled, multi-product UK SME lending platform combining two businesses with complementary capabilities and geographic footprints,” according to a statement. “Bentley Park believes that the combined Ultimate Finance and Time Finance business would be well-positioned as a significant independent alternative lender with a combined net loan book size of nearly GBP650 million.” Bentley Park has received the backing from shareholders holding roughly 47% of Time Finance. Time Finance CEO Ed Rimmer says: “The Time Finance board has spent a great deal of time considering the offer from Ultimate Finance. Over the course of our discussions with the Ultimate Finance team, it became clear very early on that they genuinely respect what the Time Finance teams have built and that we share a lot of mutual ambitions for the continued growth of the business going forward.”

———-

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Risers and Fallers Market News Zenith Energy Bio-Sustainable Future Enterprises Investacc Group Kendrick Resources Robert Walters Defence Holdings Nostrum Oil&gas Headlam Br.amer.inv.tst London Btc GCM Resources Oracle Power Mothercare European Metals Holdings Cadence Mineral Immupharma Eden Research Buccaneer Ergy Zanaga Iron Ore Company Limited Forgent Time Finance Tertiary Minerals