SMALL-CAP WINNERS & LOSERS: GCP Student rallies on takeover interest

(Alliance News) - The following stocks are the leading risers and fallers among London Main ...

Alliance News 5 July, 2021 | 10:49AM
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(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Shefa Gems Ltd, up 14% at 0.999 pence, 12-month range 0.75p-3.9p. After consulting with Shany Group, decides share consolidation on 100-for-1 basis is "not appropriate" at current time. "The company is only proposing to increase the company's registered share capital to 1 trillion ordinary shares in the capital of the company and to cancel the par value of the ordinary shares," firm says.

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GCP Student Living PLC, up 9.9% at 186p, 12-month range 107.2p-186p. The student accommodation investor late Friday confirms it has received takeover interest from a consortium comprising Scape Living and iQSA Holdco, and is in talks with the duo. GCP Student has received a "series of non-binding proposals" for the firm, other than the shares held by funds managed by APG Asset Management, to be funded by the consortium's respective primary shareholders - being funds managed by APG and funds advised by Blackstone Group International Partners. APG currently holds just over an 11% stake in the student accommodation investor. "The company remains in discussions with the consortium. However, following discussions with the company's independent valuer, the board is anticipating a material increase in its property valuation for the period to 30 June 2021," it said.

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SMALL-CAP - LOSERS

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KKV Secured Loan Fund Ltd, down 5.1% at 32.50p, 12-month range 31.77p-57.55p. Portfolio manager, KKV Investment Management Ltd, notifies firm that Chief Investment Officer Dawn Kendall's leave of absence has been extended to mid-September 2021. Had previously been expected Kendall would be back mid-July. "The company will provide a further update in due course and looks forward to Dawn's return to the portfolio manager in the near future," KKV Secured Loan Fund says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
GCP Student Living Ord 212.00 GBX 0.24 -
Shefa Gems Ltd 0.90 GBX 0.00 -
KKV Secured Loan Fund Ord 15.23 GBX 3.22 -

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Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

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