EARNZ – this is my 2026 ‘doubler’ which could well multiply thereafter, shares now just 3.9p

Mark Watson-Mitchell – 12.12.2025

For ‘penny share punters’ prepared to take an early view on the development of an interesting little group with proven management – just take a look at Bob Holt’s new vehicle, EARNZ (LON:EARN).

Actually, it is not so new because he acquired control of the old Verditek operation early in 2024.

And Just Who Is Bob Holt?

Bob Holt is a highly accomplished executive with over 37 years' experience in senior leadership roles across various sectors,

He is perhaps most widely known for his role in the rise of Mears Group, which he built from a company with 83 employees and a turnover of £12m.

From 1996, he guided the company through its successful IPO on AIM and played a pivotal role in building its order book value to £3bn and revenues approaching £1bn, establishing Mears as a market leader in its sector, with a market capitalisation of £450m and a workforce of 15,000.

Subsequently, from 2016 to 2021, he led the Sureserve Group as Chairman, overseeing its successful turnaround that resulted in over a five-fold increase in the company's share price.

By the way, Bob was awarded the OBE for his services to philanthropic causes.

So, What Is He Doing With EARNZ?

Without showing any signs of haste, Holt has been gradually putting together a very interesting business based in Cheltenham.

The AIM-quoted company focussing upon ‘Energy Advisory Regeneration Net Zero’, is an energy services group operating at the heart of the UK’s green agenda delivering vital services across residential and commercial properties including heating maintenance, new energy services, and boiler refits.

Its strategy is to buy and build leading businesses with a focus on decarbonisation and net zero, focusing on whole building fabric approach, working with public and private sectors utilising government incentives such as ECO4.

At the heart of its operations there is a commitment to driving innovation and sustainability in the energy services sector, with the objective to capitalise on the drive for global decarbonisation.

To date, EARNZ has acquired five businesses: Cosgrove & Drew, South West Heating Services, A&D Carbon Solutions, Warm Low Living and National Retrofit Solutions.

Developments To Date

It is still very, very early days in the development of Holt’s new group.

However, it is beginning to see its various subsidiaries winning new business.

Just like the build-up of Mears and then Sureserve, his group strives to win contracts with local councils, initially on one-year terms but capable of being extended upon satisfactory performance.

Early in October this year, the company announced that it had secured a one-year £1.2m contract with the sustainable regeneration specialist Equans, to supply and install insulation, ventilation upgrades, and renewable energy solutions to 92 privately owned homes in Bradford, West Yorkshire.

The contract has been awarded on the back of a £7.1m Warm Homes: Local Authority Grant from Bradford City Council to increase the energy efficiency of privately owned homes in the city.

Further phases of the initial one-year contract are expected to follow over the next 2 years, with a maximum value of £7.1m.

Management Comment

Former Sureserve boss and recently appointed as CEO of EARNZ, Peter Smith, stated that:

"We are delighted to have secured such a significant contract.

Working for Equans and Bradford City Council, we will be helping residents make their homes cheaper to heat, healthier to live in and lower in carbon emissions.

We will also be supporting the local community with employment opportunities."

The Equity

There are some 102.2m shares in issue.

The larger holders include Gresham House Asset Management (13.69%), Bob Holt, Chairman (9.26%), UBS Group (7.25%), Gresham House Asset Management (Investment Management) (5.84%), Pentwater Capital Management (5.19%), Philip J Milton & Co (3.63%), Elizabeth Lake, CFO (2.85%), Oakglen Wealth (2.74%), Canaccord Genuity Wealth (2.69%) and First Equity (1.49%).

My View

It is still far too early in the growth of this business to assess its financials.

Instead, I take the view that Holt, Smith and Lake have the declared aim to build up an energy services company whose objective is to capitalise on the drive for global decarbonisation.

As such the upside potential for its shares, now just 3.9p, is massive if the massed experience of its executives is allowed to develop further.

This stock is now my outright speculation nap for 2026, with an easy 5p Target Price which I confidently feel will be upped several times in the next year or so.

(Profile 12.12.25 @ 3.9p set a Target Price of 5p)

Energising?