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SmallCap Round Up: VAST Resources, Molecular Energies, Renalytix


The AIM All Share is offering little in the way of inspiration as the new trading week gets underway. Investors may have one eye on Wednesday’s budget statement but there’s a general lethargy hanging over sentiment with the index sitting a little over two points down heading into the close.

  • VAST Resources +43%
  • Molecular Energies +32%
  • Renalytix +30%
  • Rosslyn Data -23%
  • Smartspace -13%

Vast Resources [LON:VAST] topped the board on Monday, advancing 43% heading into the close. Shares appeared to jump ahead of the weekend break but this was driven by the consolidation off the back of the cap re-org. Does the extension of gains into today’s session suggests a degree of investor confidence emerging from the new cap structure – or is it simply a carry over of that momentum from last week?

Molecular Energies [LON:MEN] added 32% following an update on Green House Capital (GHC) of which the group owns a 75% stake. GHC has received an advance assurance from HMRC that prospective investment will sit under EIS, something that serves to bolster the underlying valuation of the company and assist with future funding plans.

Renalytix [LON:RENX] gets the notable mention. The kidney diagnostics company had seen its shares leap as much as 70% in early trade off the back of news that an undisclosed suitor had made an approach to the company, but with no names and no detail regarding the size of any potential deal, enthusiasm has been somewhat lacking.

Rosslyn Data [LON:RDT] was at the foot of the board, down some 23% after a trading update. The red flag here seems to be that a number of contracts the board had hoped would be signed before the end of the financial year in April are taking longer to get over the line. That’s going to hit revenues and with cash headroom limited, some challenges do lie ahead.

Smartspace [LON:SMRT] was another laggard on the day, off 13% heading towards the bell. The company had been in the crosshairs of a bidding war and two weeks ago had successfully extended the PUSU deadline that had been applied to a private equity suitor. There’s still a couple of weeks remaining here but does today’s move suggest that they’re walking away, too?

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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