Small-cap round-up: Appscatter shares tumble on German M&A deal, Minoan Group sells travel business
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Here the Evening Standard business team brings investors all the major small cap news this morning:
Top story is Appscatter, which has made its boldest move since coming to market last September.
The app monitoring service is buying German firm Priori Data for £13.5 million but will have to raise £15 million through a placing at 70p to pay for it.
Appscatter shareholders haven't liked the structure of the deal and shares lost 5.5p at 76p.
Meanwhile Motorpoint, the used car dealer, was shooting ahead after stating it expects profits at ‘upper end of market expectations’.
This comes despite franchised motor dealers suffering as new car sales decline.
Analysts at Numis retained a buy rating on the stock and said a target price of 250p. Shares moved 18.2p higher at 235.2p.
Equipment hire business Vp was also making gains - adding 60.4p at 880.4p - as it promised it will post annual results in line with market expectations after making “strong progress” over the winter period.
But Gooch & Housego was losing ground despite the AIM-listed specialist manufacturer of photonic components and systems saying full-year trading is expected to be in line with expectations.
Shares were off 10p at 1310p.
Finally Minoan Group said it would sell its travel business after revealing losses for the year through October, 2017 had deepened.
Net losses amounted to £2.5 million, compared to £2.3 million of red ink a year earlier. Proceeds from the travel division sale would be used to reduce debt, the company said.
Shares were off 0.4p at 6p.
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