|
The following stocks are the leading risers and fallers among London Main Market small-caps on Friday. ---------- SMALL-CAP - WINNERS ---------- Pinewood Technologies Group PLC, up 13% at 452 pence, 12-month range 290p-452p. The Birmingham-based provider of software to the automotive retailing sector has gained full control of its joint venture, Pinewood North America LLC, by acquiring Lithia Motors Inc’s 51% stake for $76.5 million in shares. Pinewood says this will comprise 14.6 million new shares at 386.50 pence each. Says the acquisition values the joint venture at $150 million in total. Moreover, Pinewood says it will enter a five-year contract with Lithia to roll out its software to all Lithia’s current and future sites across the US and Canada by the end of 2028. Company believes the acquisition will ‘unlock broader adoption’ of its products by removing the perceived ‘competitor overhang’ from Lithia’s majority stake, and will position it to take a ‘significant share’ of the $6.5 billion North American automotive dealer software market. Moreover, Pinewood expects the acquisition to be a ‘key enabler’ of its medium-term ambition to scale in North America and deliver sustainable earnings before interest, tax, depreciation and amortisation growth. ---------- abrdn Diversified Income & Growth PLC, up 1.3% at 45.8p, 12-month range 41.1p-83p. Company is undergoing a managed wind-down, having previously looked to invest in a ‘globally diversified multi-asset portfolio’. Net asset value was 68.42p per share as of March 31, up 1.4% from 67.48p. NAV total return for the six months ended March 31 is positive 4.4%. Net return rises on-year to £8.7 million or 2.89p per share, from £253,000 or 0.08p. ---------- SMALL-CAP - LOSERS ---------- ASA International Group PLC, down 3.7% at 145p, 12-month range 55p-163.5p. The Weybridge, Surrey-based microfinance lender announces that Chris Low ‘has decided to step down’ as non-executive chair with immediate effect, after three years at the company. He will be replaced by Guy Dawson, who served in the non-executive chair role in the past. ‘With the new executive management team in place and the group performing well, now is the opportune time for me to step away, particularly as I am involved in a number of other business interests,’ Low explains. ---------- Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
