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thanks SQ
Interesting, so they have to increase revenue from £63.5m to £74m or by ~16% to break even.
I believe the debt facilities are due to be renewed this month - probably at worse terms than previous, given interest rate movements I wonder whether this will impact the assumptions made by the company.
I notice a new fixed charge registered in Jan 23 for Lombard North Central - presumably for factory kit, who knows?
There are lots of unknowns here to ponder.
Cash:
Taken from end of Sept 2022 raise:
The Company believes that following the actions taken by management this year and the commissioning of Blackburn, circa £6.2 million of monthly revenue will deliver a breakeven cash position, expected in 2023
Taken from Feb 2023 RNS:
Against the tough economic and supply chain environment throughout the year, the Group performed broadly in-line with expectations. Group revenue growth of 1.5% to £63.5m (FY2021: £62.7m) was achieved.
So yes, very likely to be a gap / cash drain and I’d hope that the Sept raise covered this until expected profit in 2023 (assuming sales growth).
Also, still worth noting that now results have been published yet - historically out in March….. must be coming to the end of the ‘strategic review’ soon.
Thank you Mr M. I’ve dipped back in here at 7.45p on the fall but not a huge amount, I’m nervous about cash position, further dilution and the culture at the business. Frustrating because they have great product and should be doing better
In my view, if an institution dumps at such a price, it's usually one of two things. Either the investee no longer meets the specific investment criteria, which therefore forces the institution to divest at a specific threshold. Alternatively, they are privy to something the market hasn't yet factored in and in their view it doesn't reflect well for the future of the business.
Me that’s why I asked the question….?
Any number of reasons and who cares with a background buyer(s)
Whilst the seller has cleared it begs the question- Why would they ditch this at 5p?
With Sarasin & Partners LLP also adding the sell by Ballie Gifford has all be bought up. Any more buying should take this up very fast. Any interest announced and this could rocket. Easy double bagger.
SARASIN LLP added 1.37m on April 6th
If Mr Granite picks up more that will show intent. How many more shares will he buy? Will have to see if he adds to his holding. Certainly better to buy the shares. Not sure if that would bar him from making an offer. Something must be afoot. They cannot keep this offer period open for every. If interest has been made this could take off. Seller is certainly out.
Not seen any news of offers yet. But we also don’t know who’s picked up the 6m ish shares off loaded on Friday.
If Stephen Granite has picked up the majority, it’s going to show a clear intention.
Has the company received any offers of interest to bid for the company or buy an asset which can only really be PHD. Perhaps it was SIS and leave PHD.
Offer period must be coming to a conclusion soon. Will Applied nutrition be interested and at what price? Cheaper to buy the shares.
More likely to see Supreme add SiS to their portfolio of assets
in the top 20 risers on the leaderboard now
share price can go up 100% and the market price will only cover PHD purchase 3 years back. This is a good buy for applied nutrition. Buy the shares first then make an offer to take out PHD. Getting back someone of the money you pay making the shares you bought cheap. Clever purchase to me. Got to go a lot higher. Now Ballie Gifford is gone, this is going much higher imho
many people will be buying as this very cheap....expect institutions, investors and directors to buy at this price.....this could double even multibag...can even see 20-30p.....
I wonder whether the stake builder will add more this week
I read somewhere that the assets here could be worth 30-40p
With revenues of £60mln and a market cap of only £14mln with £5mln raised at 15p
PHD and Applied Nutrition could be a very good fit. Could they pay £30. Million for PHD. Would that mean up to 16 pence value?
Shareholder should demand a return of Capital on any sale.
Any competing purchaser?
in the top 25 risers now on the leaderboard
possible to bounce back over 10p today quite easily this morning ....good buying this morning
hope you had a good bank holiday weekend...good start today..
With a new buyer and seller out, this is a good buy. Will applied nutrition take us out? Are they strong enough?
Going up now..with a buyer around it is all upside
Now we see the reason for price drop. Good buy now..
The exact shares match the trade on Thursday
On the website they had 3.4%