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What a mug
Its the MMs playing again. The AIM MMs have created huge distrust in their dealings and have turned AIM into a rubbish gambling den. We are not Private Investors, just gamblers thanks to the mischievous and amateur MMs.
Symph has a mcap of 20 million. Why we so behind them now
These guys wont be affected by the virus
Thanks for that, Draft. Good info and hopefully will affect our SP.
should help Biom.
Plastic Packaging Tax to hit supply chain from 2022
Published Wednesday 11 March 2020 2:08 pm
Christopher Walton
The government has opened a ten-week consultation on a Plastic Packaging Tax which, from April 2022, will apply to plastic packaging manufactured in or imported into the UK containing less than 30% recycled plastic.
As part of chancellor’s Budget, revealed today, Rishi Sunak said the Plastic Packaging Tax will be charged at a rate of £200 per tonne where less than 30% recycled plastic is used in packaging.
Sunak said: “The government is committed to improving waste management, boosting recycling and reducing plastic pollution. Following consultation in spring 2019, the government will introduce a new Plastic Packaging Tax from April 2022 to incentivise the use of recycled plastic in packaging and help tackle the scourge of plastic in the natural environment.”
Wrapping Robot
The government will also look to exempt businesses that manufacture or import less than 10 tonnes of plastic packaging in a 12-month period from the requirement to pay the tax. This, the consultation says, will ensure the administrative burden and cost of collecting the tax are not disproportionate to the environmental harms the tax seeks to address.
Packaging such as pallet wrap will not fall under the scope of the regulations if it is used to transport imported goods – however where transport packaging is itself the good which is being imported, this will be subject to the tax just like any other unfilled packaging.
For exports the government does not propose allowing relief for transport packaging used on exports but welcomes views on a different approach where exported transport packaging could be offered relief, particularly where it is used on direct exports.
In regards to imported packaging the consultation says that this presents additional complexity compared to UK manufactured packaging due to the nature of the supply chains and the role of customs intermediaries such as agents, brokers, hauliers and freight-forwarders.
The consultation says that to provide clarity and certainty to businesses, the government proposes to tax imported plastic packaging when it is first commercially exploited in the UK. This means the first point in time chargeable plastic packaging is controlled, moved, stored, is subject to an agreement to sell, or otherwise used in the UK in the course or furtherance of business.
The consultation closes on 20 May.
James Nierinck, of the environment and safety practice at law firm Ashurst, said: “Today’s Budget announcement on the plastic packaging tax is a big step forward in the circular economy for plastic. As an innovative tax it should encourage the use of recycled plastics within plastic packaging. However, this is in effect ‘recycled’ news as it formed part of the 2018 Budget and as such is not a new announcement.”
A tie up with SYM would send this soaring
Share price from 675p down to 270p and the CEO pays himself a bonus!
The SP is down solely to a couple of poorly drafted RNS s. The company is slow in selling anything and needs someone with a bit of get up and go. BIOM should be surfing by now, but the CEO is only interested in getting rid of the shareholders by dropping the SP. Well done, Paul.
Yes, Allenby Capital has a more interesting description of BIOM.
Bioplastics revenues reached a record £3.4m for the year - Sales in the Bioplastics division
accelerated through the year peaking at £1.2m in Q4, an increase of 175% on the quarter
and 79% for the year. This continued to be generated by strong underlying demand for
established products as well as others in the earlier stages of market deployment such as
single use biodegradable cutlery and nutrition pods. Management anticipates that
Bioplastics revenues will grow substantially in FY2020 as a number of these new
applications come on stream.
Biome’s year end trading update revealed that revenues generated from the Bioplastics
division reached a record £3.4m (2018: £1.9m). Stanelco RF Technologies (RF) on the
other hand evidenced a decline in revenues of 43% as the division (as forecast by
management) reverted to a more normalised level of activity following an exceptional
FY2018. The outlook for FY2020 remains encouraging for Bioplastics but RF is
experiencing weaker demand in the fibre optic furnace market which is expected to
result in lower sales in FY2020 leading to an overall reduction in our EBITDA forecasts
for the Group. However net cash at the year-end was higher than anticipated at £2.1m
and our cash forecast for the end of FY2020 is unchanged at £0.6m.
Source: Allenby Capital.
Please ignore my question. I see there is a new Allenby Capital note today forecasting 0.6M at end of FY20.
Does anyone have a sense of what the market expectations are for the cash position at year end 2020? Thanks
Anything into fd leaving. Accountants always move on.
So the BOD thinks that there will not be any significant sales to make a profit in 2020. This RNS will reduce the SP considerably. I believe that the BOD is trying to reduce the value of the company for some strange reason. There should be positive news. Change the CEO and get rid of the RF division. What happened to the plastic pipe welding project? What happened to the 3D filament?
The Finance Director has either been sacked or has left because of the boredom and lack of vitality in this company.
The CEO is not a sales person. that was proved in the MELO presentation.
Get some good sales people and sell something!
Only 3mill shares in issue. Clearly bioplastics will overtake all other biom business. Yes they probably will ditch the RF stuff. unnecessarily dragging this down.
Time to divest the RF division, the future for this company is clearly all about the plastics. Good trading update update
Looking good but still loss making in 2020.
The Bioplastics division is anticipated to become the dominant division of the Group in 2020 and beyond. However, the lowering of the Board's expectations for revenues in the RF division referred to above will have a consequential impact on Group EBITDA in the year to 31 December 2020. As a result, the Board now anticipates that the Group will continue to be loss making at the EBITDA level in the 2020 financial year. Cash is anticipated to remain in line with the current market expectations for the 2020 year end, as working capital requirements are reduced in RF and working capital levels in Bioplastics are expected to benefit from the efficiencies of new product synergies.
The division's revenues for the full year to 31 December 2019 were £3.4m, which were ahead of market expectations and 79% higher than full year 2018 revenues of £1.9m. Revenues in Q4 were £1.1m, representing the fourth consecutive quarter of growth and were 175% ahead of the prior year comparative (Q4 2018: £0.4m).
In bioplastics division.
Another rubbish RNS designed to lower the share price.
It looks as though the Trading Update will be the 30th January as stated on BIOM website under the heading "Provisional Financial Calendar 2019.
There is no financial info on the website. Last year, the pre-close statement arrived on the 24th January 2019.
I think this is the good entry point, last year it rose 3 weeks prior to result.