SMALL-CAP WINNERS & LOSERS: Seraphim’s top four up by £69 million

The following stocks are leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Seraphim Space Investment Trust PLC, up 4.1% at 147.31 pence, 12-month range 48p-151.5p. The London-based investor in space technology reports a combined fair value uplift of £69 million or 36% from each of its top four holdings, to £261 million at December 30 from £192 million at September. Says this is equivalent to a 24% increase to the £284 million net asset value as of September 30. ICEYE’s valuation increases 34% to £132 million, ALL.SPACE’s by 80% to £54 million, D-Orbit’s by 23% to £42 million, and HawkEye 360’s by 15% to £34 million. Notes that ICEYE recently won an €1.7 billion multi-year contract from the German government through its joint venture with Rheinmetall.

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SMALL-CAP - LOSERS

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LMS Capital PLC, down 4.8% at 15.62p, 12-month range 15.1p-23p. The investment firm, which has assets in the retirement living and energy sectors, estimates NAV at £29.0 million or 36.0p per share as of December 31, a decline of about £700,000 against £29.7 million or 36.8p per share as of September 30. Also represents a decrease of £5.6 million from £36.2 million at the same time one year prior, after adjusting for the first return of capital in July. Company notes net decreases of around £400,000 in the underlying portfolio valuations since September 30. Cash balance is £6.8 million as of December 31, down on-year from £13.5 million, after £1.6 million was distributed to shareholders in July.

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