(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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Pantheon Infrastructure PLC, up 2.4% at 75.39 pence, 12-month range 73.20p-92.20p. The investment fund focused on infrastructure assets says net asset value at December 31 rose 7.8% to 106.6p from a year earlier. It declares an interim dividend of 2p per share, taking its total 2023 dividend to 4p, up from 2p a year earlier. It completes GBP5.8 million in share buybacks in 2023, with a GBP2.6 million after the year-end and planning a further programme of up to GBP10 million. Chair Vagn Sorenesen says: "We continue to believe that PINT's strategy means it is well positioned for when investors again start to recognise the importance of growth potential in a well-balanced investment strategy...The board is confident of the manager's ability to continue to source new assets and to manage the existing portfolio to deliver that growth. We also believe that infrastructure assets will provide much-needed resilience in the current uncertain world."

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SMALL-CAP - LOSERS

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Zotefoams PLC, down 6.1% at 367.00p, 12-month range 258.55p-415.00p. The cellular material technology provider falls having largely tread water in the prior four trading days. On Tuesday last week, it announced the appointment of Ronan Cox as its new chief executive officer. Cox joins the company today and will succeed David Stirling, who served as CEO since 200, following Zotefoam's annual general meeting on May 22.

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Topps Tiles PLC, down 1.5% at 43.36p, 12-month range 41.08p-57.80p. The tile retailer says first half sales fell as subdued retail demand offset a more resilient showing from trade customers. Total sales in the 26 weeks that ended March 30 falls 5.9% to GBP122.6 million from the year before. Like-for-like sales are 11% lower year-on-year in the second quarter, driven by lower footfall and volume. Topps Tiles says the weaker market, higher pay and seasonally higher energy usage weighed on first half profit, expecting annual profit to be weighted towards the second half. Topps Tiles says it is "well positioned" to benefit from a cyclical recovery in the RMI market and remains in a strong financial position, with a robust balance sheet.The company says it will discuss new goal and future profit growth opportunities alongside interim results in May.

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By Greg Rosenvinge, Alliance News senior reporter

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