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SMALL-CAP WINNERS & LOSERS: Riverstone starts wind-down process

ALN

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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Riverstone Energy Ltd, up 0.1% at 888 pence, 12-month range 680p-888p. The energy industry-focused investor’s net asset value per share is $15.11 as of June 30, up from $14.83 at December 31 but down from $16.91 at the same time one year prior. Swings to total comprehensive gain of $3.0 million for the six months ended June 30, from the previous year’s $15.89 million loss. Basic & diluted earnings per share total 12.16 US cents, from LPS of 46.22 cents. Company says it is now starting a managed wind-down process to realise ‘all the existing assets in an orderly manner’, stopping new investments and returning capital to shareholders through compulsory redemptions. Says this will not result in liquidation ‘in the immediate future’. ‘There can be no doubt that the macroeconomic outlook entering 2025 has worsened and geopolitical uncertainty remains elevated across the globe,’ Riverstone comments, saying this ‘has been compounded by policy volatility, persistent inflation, and shifting expectations around interest rates’. Notes the US government’s ‘strongly pro-conventional energy supply agenda, with a stated aim of returning oil prices to $50 per barrel’ and that it has ‘introduced growing uncertainty into the renewables and EV sectors’.

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SMALL-CAP - LOSERS

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International Personal Finance PLC, down 3.1% at 204.5p, 12-month range 121.5p-215p. The credit products and insurance services provider extends the possible put-up-or-shut-up deadline for BasePoint Capital LLC regarding a potential cash offer. IPF announced on July 30 that the companies were in talks about a potential deal. Gives new PUSU deadline as 1700 London time on September 24.

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