Lunchtime small cap wrap: who’s kicking goals so far today
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Here are the key ASX small cap gainers and losers at 1pm AEST Wednesday.
The ASX Small Ords index was down 12 points at 2641 despite gains overseas last night.
In the green
Eastern Field cemented itself as the biggest shareholder of Finders Resources (ASX:FND), which spurred its share price by 47 per cent to 22c by 1pm AEST.
FND announced the appointment of four directors after the last of its former board members resigned.
The takeover isn’t yet final. Coporate watchdog ASIC yesterday sent the case back to the Takeovers Panel to consider the validity of acceptances.
“The outcome of the Takeovers Panel hearing will not have a bearing on Eastern Field’s status as Finders’ majority shareholder though it will determine the final level of Eastern Field’s shareholding,” the new major shareholder said.
Labour hire and recruiter Ashley Services (ASX:ASH) was trading up 24 per cent to 21c at 1pm AEST on no news.
The company’s half-year statements showed a profit of $2.2 million on the back of strong performance from its labour hire division.
Yowie chocolates will soon be seen at 7-Eleven and CVS health stores across the US — news that boosted Yowie (ASX:YOW) shares by 20 per cent to 12.5c, before they fell slightly to 11c by 1pm AEST.
The stock is well down on its 52-week high of 54.5c following a series of mis-steps.
The chocolates and animal figurines would be available at up to 8500 7-Eleven stores and 6000 CVS Health pharmacies in 49 US states by the end of next month.
That’s on top of news it will release a series of short animations made in partnership with Mel Gibson’s Icon Animation house around the story of each of its 6 characters.
Winmar Resources (ASX:WFE) shares jumped 19 per cent to trade at 1.9c by 1pm AEST today as the market reacted to last week’s execution of $1 million in placement agreements.
The company was last week in the Congo reviewing potential acquisition opportunities in the cobalt-rich country.
Bid Energy (ASX:BID) reached highs of 3c this morning, before settling up 9 per cent to 2.4c at 1pm AEST following the company’s deal with Singtel Optus announced last week.
New clients would add a 20 per cent increase in annualised subscription revenue for the quarter, the company said.
In the red
Wi-Fi provider Tomizone (ASX:TOM) fell 20 per cent to 1.2c after it issued shares in a recent placement.
The company issued shares at 1.5c — raising $480,000 — to take its total to $1.48 million for the year so far. The cash would help implement a growth strategy and allow for further acquisitions.
Release of a shareholder newsletter did little to excite investors in Alexium International (ASX:AJX) — the stock falling 19 per cent to 21c today.
Chief Dirk Van Hyning told shareholders it had been a frustrating time in recent months while confidentiality considerations restricted the news he could make public.
Shares in HR tech GooRoo (ASX:GOO) took a 15 per cent dive to 7c after a strong performance last week.
In a commercial update to market released last Thursday, the company said sales revenue was set to lift by a minimum of 75 per cent in the next quarter after a series of contract signings.
The shares recovered slightly to 7.8c by 1pm AEST.