Hardide (HDD)

Sector:

Industrial Chemicals

Index:

FTSE AIM All-Share

 27.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 40.20p
  • 52 Week Low: 27.30p
  • Currency: UK Pounds
  • Shares Issued: 55.88m
  • Volume: 3,644
  • Market Cap: £15.37m
  • RiskGrade: 249

Hardide raises £2.54m to invest in new reactors, strengthen balance sheet

By Michele Maatouk

Date: Friday 27 Oct 2017

LONDON (ShareCast) - (ShareCast News) - AIM-listed Hardide has raised £2.54m in an oversubscribed fundraising at 1.7p per share, to invest in new reactors and strengthen the company's balance sheet .
The company, which provides advanced surface coating technology, said the net proceeds will be used to fund two additional reactors at its US facility, enhance existing equipment at UK and US sites, increase sales and marketing and strengthen the balance sheet.

Hardide also said on Friday that results for the year to 30 September are expected to be in line with the board's expectations, with a cash balance of £1.21m at that date.

Chief executive officer Philip Kirkham said: "We are delighted to have received such strong support from investors for this fundraising. The new funding will principally allow us to invest in up to two new reactors in the US which will, when deployed, create the capacity required at the company's existing facilities to accommodate projected new business.

"We are excited by the recent progress made regarding two new commercial agreements, one being a signed framework agreement with a major international operator in the oil and gas sector. The company is also in the final stages of discussion with a well-known manufacturer of drilling and production tools. These agreements underpin existing market forecasts and the board's belief in the company's further growth."

At 1011 BST, the shares were up 3.5% to 1.84p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Hardide Market Data

Currency UK Pounds
Share Price 27.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 40.20p
52 Week Low 27.30p
Volume 3,644
Shares Issued 55.88m
Market Cap £15.37m
RiskGrade 249

Hardide Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.25% above the market average6.25% above the market average6.25% above the market average6.25% above the market average6.25% above the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
64.15% below the market average64.15% below the market average64.15% below the market average64.15% below the market average64.15% below the market average
47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average
Income Not Available
Growth
45.97% below the market average45.97% below the market average45.97% below the market average45.97% below the market average45.97% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

Hardide Dividends

No dividends found

Trades for 20-May-2022

Time Volume / Share Price
09:14 3,644 @ 27.30p

Hardide Key Personnel

Chair Robert Goddard
CEO Philip Kirkham
Finance Director Simon Hallam

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