2012 Winners & Losers: King Coal scuttled
If you held shares in coal producer ATH Resources (LON:ATH) throughout 2012 you are probably the sort of person unlucky enough to find nothing but a lump of coal in your Christmas stocking,
The stock was the worst performing UK stock in 2012, starting the year at 42p and ending it suspended at 0.33p.
The writing was on the wall for the company when the company's lenders, HSBC and Clydesdale Bank sold some of ATH's banking facilities and related rights to BECAP Fund. BECAP tipped the company into administration in December when it demanded the repayment of the group's loan facilities in full.
Runner-up for the wooden spoon was Kennedy Ventures (LON:KENV), the company formerly known as Managed Support Services.
The share price fell off a cliff in late March when the company revealed that the £6.5mln it expected to receive from Rentokil Initial (LON:RTO) for the sale of its building services division would only be £4.1mln, primarily as a result of the unforeseen cancellation of one of the division`s largest maintenance contracts.
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