(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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Keller Group PLC, up 1.9% at 921.48 pence, 12-month range 623.87p-1,043.60p. London-based geotechnical contractor Keller Group has won a USD160 million deal connected to the development of an energy site in the Gulf Coast region of the US. "The contract is expected to mobilise in 2022 and conclude in 2023 and comprises ground preparation, primarily through soil stabilisation, for the construction of an energy facility," Keller says. The pact was won by its Recon Services subsidiary. Keller bought Recon back in July for an initial USD23 million in cash from Oaktree Capital Management. Once the Gulf Coast project mobilises, Keller will pay an additional earn-out for the Recon acquisition. In July, the company said the acquisition consideration could rise to up to USD38 million.
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SMALL-CAP - LOSERS
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Costain Group PLC, down 5.2% at 49.00p, 12-month range 46.00p-75.40p. The infrastructure construction company says it is to make a GBP53.5 million payment in relation to a cancelled contract with National Grid PLC. In June 2020, the duo agreed to exit a contract to upgrade National Grid's Peterborough and Huntingdon compressor stations. The payment is expected to be made in January. Costain adds: "As not all compensation events have been decided in our favour, we now expect there to be an overall cash outflow in respect of the contract." The stock hit its 12-month low on Monday. National Grid shares were down 0.4%.
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Gym Group PLC, down 5.5% at 246.74p, 12-month range 190.00p-317.50p. Leisure stocks struggled on Monday after UK Prime Minister Boris Johnson over the weekend warned on the Omicron variant of Covid-19 could cause "very many deaths".
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By Eric Cunha; ericcunha@alliancenews.com
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National Grid (NG.)
Keller (KLR)
Costain (COST)
Gym Grp (GYM)