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SmallCap Round Up: Active Energy, Hardide, Harland & Wolff


There’s still a shortage of love to be found in London’s junior market with another day of modest losses accruing and a notable underperformance compared to the main board. At 4pm, the AIM All Share was off around three points at 734.48.

  • Active Energy +254%
  • Hardide +23%
  • Harland & Wolff +16%
  • Kefi Gold -24%
  • Mercantile Ports -11%

Active Energy [LON:AEG], the biomass business, saw its shares post an eye-catching 254% uptick heading towards Tuesday’s close after it reached a settlement with Player Holdings. The deal sees Player paying $1.65m to Active and whilst the uptick on the shares today seems impressive, this needs to be put in the context of the losses accrued as this relationship has panned out in recent months.

Hardide [LON:HDD] was in second place, up 23% at 4pm. The company announced the planned departure of the CEO today but also notified the market of two 3% stakes which had been picked up in the business by notable investors. The stock was sitting on a 12% spread heading into the close, but perhaps today’s buys underline the idea that the recent sell off has been overdone.

A notable mention for Harland & Wolff [LON:HARL] which added 16% today. The company advised this morning that it had been awarded preferred bidder status on the Falkland Islands Port Replacement Project, in a deal that could be worth £100-£120m over two years.

Kefi Gold [LON:KEFI] was the laggard at 4pm, down 24% off the back of a capital raise. The company tapped investors for £5m and the sell off takes the stock down to the placing price of 0.6p per share. Funds will be used to complete project financing, remove specific liabilities and for general working capital purposes.

Mercantile Ports [LON:MPL] was also towards the foot of the board, sitting some 11% lower. There is however little in the way of news here and volumes are far from abnormal with trade being thin, too. The spread accounts for around half of the loss.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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