Shares in Renewable Energy Holdings (REH) jumped after wave energy developer, Carnegie Wave Energy, in which REH holds a 9.7% stake, said the first government payment for its Australian Perth Wave Energy Project had been approved. The AUS$248,561 handout was for the completion of the Basis of Design for the Perth Wave Energy Project at Garden Island and completion of the community consultation and risk management plans for the project. REH shares were up 10.7% on Wednesday morning.
Agriterra, an AIM-listed pan-African agricultural company, plunged after it announced it had sold its 20% legacy interest in the South Omo Block in Ethiopia for at least $40m, but was still waiting for $11m owed to it for work undertaken and investments it made in the Block Ba oil concession area in South Sudan. The company's shares were down 19% on the news, despite the company's Chief Executive Andrew Groves saying £50m - the company's market capitalisation at the start of the day - did not fully reflect the "considerable value of Agriterra's growing agricultural businesses". Shares were down 19% following the news.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Review: Eden Roc Cap Cana – fun, sun and golf in the CaribbeanTravel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yetThe chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry
