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One things for sure.....
They haven't sold 13 million since the 8th
Insert puzzled face here.
Agree with you, but Krusty seemed to be suggesting DSM where building a stake with a view to a bid on the company.
I don't think today's RNS supports anything like that.
The point I was trying to make was that this represents an historically high level of stock/inventory to carry. PXS wouldn;t have bought this level of stock unless they were confident of selling it within a fairly short time frame (because, I am assuming that this stock has a fairly short shelf life )
I agree that the RNS is good news - for all sorts of reasons and this "read between the lines" adds the icing on the cake.
Not sure what that has to do with the point Slam.
I already said it looks like good news, and have topped up today...
Kristy, they already held that so what's it to do with "stake build and possible takeover" nonsense?
Alf
Re evidence of drip feeding shares ... 2 points
1. I said "if they're so inclined", so was stating it as a possibility, not a fact, but ...
2. Yes, there is evidence of it. Take a look at the major shareholders part of provexis.org which currently, based on info from the 8th March states DSM Venturing hold 143,769,230 shares. Today's RNS has them, pre the issue of new shares at 130,923,358. So, since they last declared they've sold just under 13 million shares.
And the other 5.9%? Ignore it if you wish, I actually think this is good news for PXS going forward.
Barbershop,
Whilst DSM may have needed to dispose of current stock (with upcoming "Use by" dates), I guess that if you look at it the other way around and also say that PXS were also confident that they could sell the stock on within the given timeframes.
If you consider that we have just bought £350K's worth of stock for fairly imminent sale and despatch, I guess that we are looking at a very healthy order book. Based on my earlier estimates this could net PXS approx £900K in sales.
Am I looking at this with my rose tinted specs on????
Is there any evidence of DSMV "drip feeding shares " ?
Aren't they more of a long term position type of fund?
After all, their trading company are embarking on a whole new journey with Fruitflow as a gut biome enhancer, a a sector of vast potential.
As I said, they agreed to be paid in shares as they need to dispose of the stock...
"On 27 March 2024 the Company learned that DSM Venturing BV's current shareholding is 130,923,358 shares, being 5.90% of the Company's existing issued share capital, and after the issue of the 45,123,732 New Provexis Shares DSM Venturing BV will hold 176,047,090 shares, which will be 7.78% of the Company's enlarged issued share capital.".
How else would you interpret that?
They have stock they need to be rid of, and have agreed to take shares instead of cash.
I don't think you could reasonable interpret that as building a stake...
DSM are building a position here. Could be the precursor to a full-blown bid? Certainly one to keep an eye on.
Their ffs
*hangs head in shame
Also, if they're so inclined, DSM can instruct someone to drip feed there shares into to the market as and when they think the price is right, so they're happy too ( and Kev can buy them, which'll make him happy too ! ).
Credit ( pun intended ) where it's due, that's a decent way of solving the cash flow issue and doesn't fundamentally change the value of the company because we've directly swapped equity for stock of the same value.
With Lucas having been a whisker under 10% I wonder if he passed on the opportunity to increase because, under the AIM rules, going over 10% would see him treated as a related party ?
BB
Doesn't seem like this news will drop the SP anyway, so time for a small top-up.
Well done IF. Lets wait for the doom and gloom posts to arrive from the ones hoping to buy on a very low fund raise placing or are just not invested anymore in the company. Roll on the new 2024-2025 Isa allowance
Hmm, wasn't there an outstanding question about the shelf-life of the DSM stock, and does this indicate that it has been confirmed it can be safely extended?
Seems very positive news and hopeful in the near future sales can start to cover costs.
I don’t think it entirely solves the funding issue but this is a huge vote of confidence in PXS. DSM know the company better than anyone and whilst I’m sure PXS leveraged the fact that the stock was of little value to DSM, it’s still a great result for shareholders.
Also very good news that the Irish setup is complete
On the whole, I can't help thinking that this is good news as it saves a messy fund raise that would have almost certainly been done at a lower share price.
It resolves the issue of the fund raiser that has been hanging over our heads for the last 12-15 months and, at the same time, it identifies the further commitment to, and confidence in, the product by DSM
Rns
Very positive runs , Dsm are happy to invest more in the company and it seems sales are booming !
Well I guess DSM are confident in a return.
I think of it as joint IP and share of final product, not just supplying FF. PXS will want to retain control.
I’d take 50% of that huge market, of course we will supply ff to by-health, all other ingredients will be sourced by By health from others .