The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Am I honestly supposed to believe that this moronic board, whilst in discussions with an investor, have stated publicly how weak their financial position is. This means that the share price almost halves handing the investor all the aces in the pack. I would pay good money to be in the room when they proudly announce that they are that good, the previous investor has lost over half their investment in a little over 2 months. I am sorry, but no one is that stupid. I have been played here.
https://*************.com/views/71548/tom-winnifrith-bearcast-is-verditek-going-bust-mr-market-thinks-so-and-so-do-i
I would think Tom Winnifrith is all over it already. He was raising question marks from maybe 3 or 4 years ago (I am not a subscriber to his site)
People appear to be willing to buy loads of shares so hopefully they know more than me. Without rising sales who is going to take a large stake in this company?. Both main customers cannot simply integrate some other type of solar technology into their product. I am really keen to know the sales figures so far in H2. A dilution of the current boards power would be welcomed by me. I do not know the Latin for " dilute and continue to get paid" but that seems to be the boards motto.
Ok looking at trades today this is looking more and more odd.
Sp dropped by 33% on a single trade of about £900. Then a three more and it drops to .15p. Since then, amazingly, rather a lot of buys and yet the sp doesn't budge back up. have the mms just arbitrarily decided they want this much lower?
How can this be reported to the FCA? Do I just email requesting they look into the last two years or do you have to put something of a case to highlight unusual activities?
A director buys £150k worth in 2022 and since then the company has done nothing but decline even with supposedly decent sales going on with Metrotile and Lindab. Are the RNSs painting a deliberately bleak picture to allow Rob Richard's other company FlySolartech to buy up VDTK as cheaply as possible?
I warned of this eventuality quite a few times. It certainly does need a proper investigation into the RNS output and trading history.
Directors hold a large number of shares here. Gavin Mayhew less than 2 years ago bought £150k worth at 1.5p.
Just doesn't add up.
Why on earth would anyone buy shares in this now?
What kind of money would be needed to buy it outright? mcap of less than £1m now.
SnipVW - I also had similar thoughts regarding actually 'owning' a manufacturing plant. they mentioned moving to another site in the Sept RNS:
"In May 2023, the Group's manufacturing operations were relocated from Lainate to Tolmezzo in Udine, Italy. This move was made to lower the cost base and take advantage of more flexible working arrangements. From Tolmezzo a core staff, together with a further flexible contract labour team, manufacture Verditek's flexible lightweight solar panels using the latest components sourced from around the world. The Tolmezzo facility is more automated and allows a higher quality product while simultaneously reducing costs."
Fly Solartech are based in Tolmezzo and also:
"Fly SolarTech Solutions SRL is a company of which a director of Verditek Solar SRL is also a director and shareholder. Transactions are conducted on an arms length basis and subject to authorisation by Rob Richards, CEO of Verditek plc."
could it be that the sales cost more to make than what they sell for? i also don't believe that they own any manufacturing sites, they don't have sales staff really, and the ceo is based in thailand, and is paid through shares.
i've been following this share for quite a long time now and have lost a fairly large percentage of my value when i sold up around 18 months ago. there is nothing ground breaking in their technology. they have entered 'partnerships' consistently and have all fallen through. who remembers the one in ****stan?
where is sophie, a friend of rr, when you need to hear her calming words?! another dog of an aim company imo. this ipo'd at a hell of a price, should be investigated.
Twink - I would assume that Metrotile won't be able to simply outsource another supplier to retrofit a different solar tile onto their Qube design roof tile without some considerable upset to production and assembly lines? Lindab panels being much bigger than tiles might be easier to find an alternative product so I would hazard an educated guess that Metrotile/IKO Metals would be the obvious JV/buyout/finance option. like you say though, HUGE dilution of an already shocking SP or...... could they simply delist?
OHS
OHS
The below extract was only RNS'd in September! What has happened to the £500,000 they raised? Why have these sales not materialised? NZV JV? Something seems very off here:
The Group has highly promising partnerships with roofing providers. Verditek has signed a long-term supply agreement in the period with Lindab Profil AB, a Scandinavian supplier of roof systems, and they have placed multiple orders for installations in a number of countries.
Verditek is also collaborating with Metrotile, who are incorporating the Verditek solar panel into their roof tile products. Both these opportunities enhance the potential for commercial growth in the lucrative roofing sector. Verditek continue to work with two other large roofing companies elsewhere in the world as we develop a similar offering for their respective markets.
As a result of these collaborations, the value of order intake in the first half of 2023 is approx. £395,000 versus £232,000 in the first half of 2022. The majority of the order intake is expected to be recognized as revenue in the second half of 2023.
Roger , things do not add up. I know the company has always had champagne tastes and beer money but Unless sales are almost zero the money should not be that low. They had a 180K rollover from H1 and the cost base should have been lowered. Lindab or Rooftile Group could buy this company out of petty cash but if sales from both companies are very low then why buy the technology? I think I am being had here and hold my hands up. Boy was I wrong, This will be an expensive lesson.
Best likelycase is a buyout. Worst case is a JV with heavy dilution of an already depressed SP/MC. If they somehow strike a brilliant deal, they could JV and supply for an offtaker, but likely VDTK would be a feeder company and not the main business resulting in low profit as profits focus on offtaker.
J
I feel sick
Well that answers the question on how sales are going?. Need a bid from either Rooftile group or Lindab. A lot of buying though? As I have said before something does not smell right with this company.
Only chance holders have of getting out with any cash is if company come in to buy Vdtk mainly for their manufacturing plants. No one in their right mind would JV with Vdtk. Fwiw they might had well just buy the lot.
Sorry to the holders. Terribly ran.
J
Or there aren't any decent bids. Which explains why they are on the lows. Who would buy stock right now ? I would rather pay up on good news then take a punt now without knowing what's round the corner. As you say. need a an update from the company. Until then who knows.
Actually make that 89m shares. Unless of course they’d actually forward sold the lot but one assumes not.
The fact that Peel Hunt still haven’t sold any of the 70 odd million shares suggests the holder is happy to wait for something to come to fruition doesn’t it?
Hi Roger et al - has anyone actually got any info on Net Zero Valley??? I have found nothing in my searches; no web site, no BOD details, no planning applications for any manufacturing plants that I can link to them, very little on Serendipequity (bits but nothing worth writing about). Certainly doesn't instil any confidence in a JV at the moment. For anyone who wants to do a bit of sleuthing, their is a connection to Fly Solartech who are based in Tolmezzo (the location of Verditeks manufacturing operations......) but again, nothing that I can make any connections in relation to the JV though
I do wonder though, how does the subscriber who got the 40% discounted shares at 0.45p feel now, when the SP has dropped almost a 1/3 from their entry?? Shocking
OHS
And you've hit that rusty nail on the head twink99. 'Silence from the company'
jittery, nervous, worried, alarmed even. All things the BODs appear to be totally fine with. We have absolutely no clue what they're up to.
Hopefully hear something from them soon regarding the MOU with Net Zero Valley. Any confirmation on sales would also be rather helpful.
Roger, SolarRoof is a trade marked product belonging to Lindab. They do not have to mention Verditek at all. If I bought a branded hoover I do not know who made the wheels. Lindab put a lot of time and money bringing this product to market, hence the 3 year exclusive deal. People are getting jittery here, the silence from the company is adding to the nervousness.
Personally believe Lindab are still selling VDTK panels as there would have to have been an RNS if they'd stopped selling or the agreement was dead in the water.
Last time such an agreement went belly up ie with Bradclad it was RNSd. To pretty devastating effect it has to be said. Mind you, there have been several more bombs dropped on share holders here since.
Have VDTK got one last gasp in them...?