Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Way overdone, sensible deal imo with the cash injection, lots to go for here this will be one of the stocks of the year
The sp currently.
I hope the press release is suitably imminent!
I emailed Graham Stevens yesterday to ask for clarification and he is working on a future press release/RNS. An unpleasant shock yesterday which cost me a few quid!
Hopefully Ben Van will do a Proactive investor Interview !!! and to explain how yesterday s RNS will benefit Plexus going forward! Do they still own IP on Pos Grip ?
Hopefully Ben Van will do a Proactive investor Interview !!! and to explain how yesterday s RNS will benefit Plexus going forward! Do they still own IP on Pos Grip ?
Paul Scott reporting that he's spoken to management :Yes it means forgoing a future royalty stream, but to date there has been nothing received in royalties, and it could have potentially taken SLB years to switch over from selling 33k pa existing tech wellheads, to the new ones with Plexus IP in them. A bird in the hand, I guess.Q1. I asked if the upside case had been diminished by this deal. A1. Upside has not been diminished at all.Q2. i asked why the RNS today gave a negative impression to investors? A2. Because confidentiality agreements meant that a lot of the original announcement, which explained the deal fully, had to be cut. They're thinking of ways to clarify things to the market.
Does any one know if Paul Scott from Stockopedia has made any comment regarding the RNS and is he still holding or scaling back Thanks.
Looks to me like they have sold the family jewels.
*Top quality company.
*News is good chas levels beefed up key product retained.
* Classic retrace sfter recent rise from 17p to 20p +
* Oil companies in uk and on a re bound due to Rishsi sunaks new plans
The link didn;t seem to work on my last post. Try again https://www.offshore-mag.com/subsea/article/14290517/subsea-systems-market-witnessing-steady-growth
POS seem to have sold the rights to surface wellhead production to SLB but have retained rights to sub-sea welded markets. The latter is projected to be worth over $15bn by 2030 (https://www.offshore-mag.com/s...).
Paul Scott will be speaking to management later.
BTW I'm not affiliated with Stocko but would recommend getting a subscription. There are a lot of expert posters on the forum there on top of the generally excellent content from Stocko itself. Saved me from a lot of mistakes and following their advice paid back the subscription in the first week.
Checking the view on Stocko this morning:
On the plus side this $5.2m replacement licence deal with SLB solves the tight cash position but in return POS seems to have given up a potential future royalty stream for at least some products so how does this affect POS's future?
Cavendish has put out an update note, where it raises adj PBT for FY to June 2024 from just above breakeven to £3.5m although it notes this is a one-off deal.
The situation looks a bit complex and needs unravelling. Paul Scott on Stocko, who owns nearly 3% of POS is aiming to set up a Q&A with POS management to see what it all means.
Why the drop in SP with the latest news?
I am a LTH, but this seems more like a cash raising exercise to avoid dilution and the directors lending more money to the business. We need to widen our sales beyond SLB. My view is we will continue to trend sideways until more contracts with new partners are won.
I have not read the fine print so unsure of the precise benefits but.....
Newsflow is essential imo to boosting the share price. Plenty of small orders over 2024 will quickly raise the sp because POS is a small company, somewhat illiquid shares, hence once buyers arrive on the news the price has to go up quickly to release sellers.
The Agreement also includes a non-exclusive licence to SLB for Adjustable Surface Production Wellheads, and HG Trees with the potential to generate royalties for Plexus from such special applications of the POS-GRIP technology.
What part of the IP is Plexus retaining? Very unclear from the RNS
Happy New Year POS holders!
As discussed in Q4 of 2023 we expected more contract news and here it is.
New $5mln contract
Fast forward 45 minutes
Https://x.com/rckhlld/status/1738577261068972490?s=61&t=NLG8GlLfvfmvXPP4BlgPCg
Https://finance.yahoo.com/news/diversified-energy-responds-market-reaction-144500270.html
https://www.ehn.org/abandoned-oil-and-gas-wells-2659296731.html
Https://x.com/rckhlld/status/1617219450222026761?s=46&t=WZzoFQM8kpCT88d1sI2kew