24th Feb 2025 10:53
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Gore Street Energy Storage Fund PLC, up 3.9% at 48.1 pence, 12-month range 44.5p-70.2p. The London-based investor in utility-scale energy storage projects announces the energisation of its remaining in-construction assets, Dogfish in Texas and Enderby in Britain. Dogfish has 75 megawatt and megawatt hour capacity and Enderby has 57 MW and MWh capacity. This "marks a pivotal milestone in transitioning to a steady-state portfolio", bringing energised portfolio capacity to its 753.4 MW or 924.1 MWh target. Company says all assets are scheduled to be revenue-generating in the first quarter, or by the end of June. Non-GB assets represent 61% of Gore Street's total energised portfolio on a MW basis.
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 2.8% at 6.9475p, 12-month range 6.85p-33.32p. The energy services company updates on its financial restructuring plan announced on December 23. Says it has finalised agreements with key stakeholders to enable it to commence the court proceedings in relation to the restructuring. Also, it has secured agreements with financial investors to facilitate the release of US$80 million in collateral to secure a performance bond. Expects to upsize its equity raise by USD30 million, increasing the total to USD224 million and increasing total new funding raised as part of the restructuring to USD355 million. Expects the restructuring effective date to be on or around March 31.
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By Emma Curzon, Alliance News reporter
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Related Shares:
Gore Street En.Petrofac