Residential Secure Income PLC (RESI)

(Alliance News) - 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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Petra Diamonds Ltd, up 15% at 30 pence, 12-month range 25.2p-58p. The South Africa and Tanzania-focused diamond mining group has agreed to sell its interest in Williamson Diamonds Ltd to Pink Diamonds Investments Ltd for headline consideration of up to USD16 million. Pink Diamonds will pay the consideration out of WDL's distributable cash as generated annually, 20% of which will be payable to Petra until the consideration is fully paid. Pending approval from the Tanzanian mining and competition regulators, Petra expects to complete the deal during the first three months of 2025. Says it will use any net proceeds for general corporate purposes. Notes that "WDL continues to encounter short-term liquidity challenges and going forward, the Williamson Mine will continue to require further capital investment", making it "preferable" for WDL to enter consolidated ownership.

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Residential Secure Income PLC, up 3.3% at 55.8 pence, 12-month range 45p-61p. The retirement living and shared ownership-focused investor reports results for the year ended September 30. Declares unchanged interim dividend of 1.03p per share. Reports net rental income of GBP18.9 million, up 4.4% on-year from GBP18.1 million, while gross rental income rises 7.2% to GBP29.9 million from GBP27.9 million. EPRA adjusted earnings rise 9.2% to GBP9.5 million from GBP8.7 million. Total dividend for the year however is 4.12p, down 20% from 5.16p. Chair Robert Whiteman says RSI "continues to deliver strong operational performance, with high levels of rent collection, occupancy, rent growth and stabilisation of operating costs". However, its "modest market capitalisation...and persistent discount to NAV undermines the company's ability to raise more capital and reach a sufficient scale to efficiently manage the portfolio in the medium-term and provide sufficient liquidity to our investors". Hence, RSI finds it in shareholders' best interests "to move towards an orderly realisation of assets" as agreed by shareholders at the general meeting in December.

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SMALL-CAP - LOSERS

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Triple Point Energy Transition PLC, down 3.0% at 44.85p, 12-month range 43.2p-71.9p. The investment trust announces the "successful sale" of its last remaining investments for GBP44.1 million in total, to a company owned by Dalmore Capital Ltd. These comprised its hydroelectric portfolio and remaining LED receivables finance agreements. GBP43.1 million will be due on completion with the rest due by the end of May. Company completes its wind-down with the sale of these investments, which delivers 89% of their portfolio carrying value. Chair Rosemary Boot says this "is a strong outcome for shareholders".

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By Emma Curzon, Alliance News reporter

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