Heiq Share Chat (HEIQ)

The recent example of DEST (Destiny Pharma) shows the risks with HEIQ, as there are some parallels:-

"British pharma group enters administration after London delisting

Ben Clarke

26 August 2024

Biotechnology group Destiny Pharma has appointed administrators in England, less than two weeks after delisting from the London Stock Exchange in the hopes of securing more capital as a private company. ..."

https://globalrestructuringreview.com/article/british-pharma-group-enters-administration-after-london-delisting

14th Nov 2024 7:00 am RNS Update on Delisting and Potential Capital Raise

Further to the announcement on 22 October 2024 regarding HeiQ Plc's delisting from the London Stock Exchange ("LSE"), the Company wishes to update shareholders on the next steps following its scheduled delisting on 19th November 2024.

Last trading day at LSE

As it is anticipated that the delisting will become effective at 08:00 a.m. (GMT) on 19 November, 2024, the last effective trading day of HeiQ Plc shares ('Ordinary Shares') on the LSE will be Monday 18 November 2024.

Strengthening of financial foundation by means of a capital raise

In alignment with our strategic restructuring and ongoing efforts to reposition the Company for long-term growth, HeiQ is currently preparing for a capital raise in the coming weeks via an open offer to all current shareholders. This anticipated capital raise is designed to strengthen HeiQ's financial foundation and support our ambitious venture scale-up plans to deliver value to all stakeholders.

Therefore, HeiQ has initiated discussions with selected independent investors who have expressed interest in supporting the Company during this transition and beyond. It is anticipated that a number of investors will formally underwrite the capital raise, providing assurance and confidence in our strategy.

Further details regarding the capital raise and open offer terms will be provided to shareholders in due course as we progress toward finalizing these arrangements. The Board remains committed to ensuring that all shareholders are afforded an opportunity to participate in the Company's future.

Secondary trading post-delisting

The Company has now appointed Asset Match (www.assetmatch.com) to facilitate trading in the Ordinary Shares following delisting. Asset Match, a firm authorized and regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility for the Ordinary Shares. This facility will allow existing holders of Ordinary Shares in the Company ("Shareholders") and new investors to trade Ordinary Shares by matching buyers and sellers through periodic auctions. ..."

https://www.lse.co.uk/rns/HEIQ/update-on-delisting-and-potential-capital-raise-s4uenrqhl5q8u5k.html

Note that as at 30.6.24, HEIQ had net debt of US$13.5M., which will now be significantly higher:-

31st Oct 2024 7:00 am RNS Results for 18-month period ended 30 June 2024

" ... Cash at 30 June 2024 of US$5.0 million with net debt (including lease liabilities) of US$13.4 million ..."

https://www.lse.co.uk/rns/HEIQ/results-for-18-month-period-ended-30-june-2024-b2dz9n5ztaf5sg7.html

This needs to be added to HEIQ's market cap. of £6.74M. at 4p/share, to give the enterprise value: probably somewhere in the region of c. £20M.

And if that e.v. is reduced by c. a quarter, it could reduce the market cap. by c. three quarters, to c. a penny per share.

But thre delistin is tomorrow - surely it is late but my question is- is it better to move the shsres from my isa to my nominee or simply sell?

Potential FULL takeover could happen before delisting, hence the SP increase.

Look at these buys last week:

22-Oct-24 08:28:50 1.50 2,160,097 Buy* 1.50 1.40 32.40k O

22-Oct-24 08:28:28 1.50 2,160,097 Buy* 1.50 1.40 32.40k O

Someone knows something...

Investor snapped up around 8% of the stock…now 22% holding!

I feel your pain!

Held this for about 4 years. so that's a few grand down the swanny!

22nd Oct 2024 7:00 am RNS Restructuring and Delisting

"As detailed in the Company's trading update on 12 September 2024, with the exception of the Life Sciences business unit, the Company continues to face significant challenges in its core business units in Textiles, Flooring, and Antimicrobials due to ongoing curtailed demand. The industry wide consensus is that market conditions are only expected to recover towards the second half of 2025 and accordingly, the Company does not expect to see a significant improvement in performance of these core business units before then. In response, the Company has initiated a second restructuring plan aimed at reducing its costs by up to an additional 20% by the end of 2025. Key elements of this restructuring include: ...

Delisting

The Directors have concluded that the administrative, regulatory and cost burden associated with maintaining the Company's listing is, in their opinion, disproportionate to the benefits. In order to implement the restructuring programme detailed above, as well as to assist in the Company's financing efforts for its ventures, the Board has therefore concluded that it is necessary to cancel the listing of the Company's ordinary shares (the "Shares") on the Official List (equity shares (transition) category) of the Financial Conduct Authority ("FCA") and to cancel the admission to trading of the Shares on the Main Market for listed securities of the London Stock Exchange ("LSE") (the "Delisting"). The Directors believe that the Delisting would facilitate its restructuring programme, through a major reduction in annualized costs associated with being a listed company. Furthermore, the Directors believe that the Delisting would greatly assist the Company to raise financing in the private markets for its venture platforms at higher valuations and enable their growth and value creation for Company's shareholders.

As a company listed on the equity shares (transition) category, the Company is not required to obtain the approval of shareholders for the Delisting but is required under UK Listing Rule 21.2.17 to give at least 20 business days' notice of the intended cancellation.

Accordingly, HeiQ has requested that (i) the FCA cancel the listing of the Shares on the Official List of the FCA, and that (ii) the LSE cancels the admission to trading of the Shares on the Main Market for listed securities of the LSE. It is anticipated that the Delisting will become effective from 08:00 a.m. (London time) on 19 November 2024. Investors holding Shares following the Delisting will remain a shareholder of HeiQ plc and continue to be entitled to exercise all of the rights attaching to the Shares and their attention is drawn to the paragraph below entitled "Dealing Arrangements", ..."

https://www.lse.co.uk/rns/HEIQ/restructuring-and-delisting-u9u7hzjofqorrbn.html

I can sell over 1.25m shares in one chunk so, unsurprisingly, someone wants them at this ridiculously low SP…

Definitely need a strong stomach for this over the last week but good to see the CEO buying another 1m shares at 5p today taking him up to just over 10m shares and 6% I think…

Ouch!!!! after this mornings update and new underwear might be the call of the day. How low does this one go for they just don't seem to be doing enough, and quickly enough to stem the losses.

Seeing the prices are within the regular range, not at an enormous premium is uplifting. Is Sloggi underwear popular or are they pants?

Https://technewsinsight.com/sloggi-launches-the-collection-with-heiq-technology/

Https://ww.fashionnetwork.com/news/Boss-launches-the-change-sneakers-using-revolutionary-fibre,1653206.html

Https://footwearnews.com/shoes/sneaker-news/boss-launches-change-sneaker-release-info-1203668353/

It doesn’t help us that the MMs have this with a 25% spread atm! Puts you off buying when you’re immediately 25% in the hole!

Partly answers the question with the latest RNS.Doesn't seem much appetite for Aeoniq though and could do with a trading update.

We seem to be in another comms blackout! I would like to know how this mega factory in Portugal is going to be funded.

Can sell 1.6m in one chunk right now… 🤷‍♂️

SP seems to have settled here for a while now but can sell 1.25m shares in one transaction this morning so somebody is happy to Hoover them up at this level… 🤔

They should have another day in the Sun at some point even with only Aeoniq.

So long as it stays on target then appears they're looking at $130M revenues/yr from their Portuguese factory alone from early '26?

I.m taking it we're waiting on them being able to convince a market that's been bitten once to believe its actually going to happen which seems fair enough.

Early production is nothing to be sniffed at in relation to their marketcap and that's getting closer or should be..

https://www.fmp-tv.co.uk/2023/07/06/heiq-mas-holdings-invests-in-heiq-aeoniq/

It’ll be interesting to see when this ticks up again… Somebody is happy to hoover up the shares down here as I can sell over 800k shares in one lump today… I think we’ll get some additional positive news soon and this should tick up again nicely imo…

It has only an £19M market cap now, so relatively small volumes will cause a decent price movement (both directions). I bought more recently as a punt; if they survive there is no reason I can see to prevent them recovering to trading on a level at least as good as it was prior to the pandemic.

Nm.

https://www.knittingindustry.com/julien-born-to-lead-global-scale-up-of-heiq-aeoniq/

Wrong board

Did anyone look into the tip i posted last week. if so hope ya doing well.

come on enet

Re the partnership with Culp they're reporting the new heiq lines went down well at the Interwoven show with prospective buyers in what is apparently still a tough market.

"“They need something new on the floor when business does come back,” said Tammy Buckner, senior vice president of design and marketing, noting that the line offers a good-better-best pricing story along with high levels of style and comfort in each segment. “We have given it an equal focus to provide value in each area.”

Culp said it received positive response to its new fabrics as well as its new partnership with HeiQ that offers the company’s Allergen Tech enhanced interior upholstery fabrics, with Culp as the exclusive supplier. The company said that Allergen Tech addresses problems ranging from dust mite matter to pet allergens in textiles “with the help of active probiotics, making it ideal for applications in upholstered furniture, such as sofas, armchairs, and other upholstered furniture products, which are among the household items that are rarely or never washed.”

“We introduced this new option at Interwoven to all of our customers and had HeiQ on site for demonstrations and questions,” Buckner told Home News Now. “It is a finish that we can apply to any fabric in our line and it works with our LiveSmart or Washables line if the customer wanted to offer it as a part of their performance line. It doesn’t wash away or wear off so it does last for the lifetime of the fabric. This has been perfect timing for introduction with it being in the middle of North Carolina allergy season.”

“We’ve been really excited about the reception it has gotten at Interwoven and think it’s a great addition to our Health and Wellness fabric offerings,” Buckner added."

https://homenewsnow.com/blog/2024/05/10/interwoven-offers-aggressive-product-launches/

Reads well and from the news article Culp appears to be large.

HEIQ EXPANDS APPLICATION OF HEIQ ALLERGEN TECH TO UPHOLSTERY FABRIC THROUGH COLLABORATION WITH CULP

May 7, 2024

HeiQ partners with Culp to apply HeiQ Allergen Tech, a 100% biobased* solution that reduces allergens on textiles, onto interior upholstery fabric.

HeiQ, a leader in textile innovation, announces the extended application of HeiQ Allergen Tech to bring the benefits of this biobased textile technology to the interior upholstered furniture market, marking a unique launch into this segment...

https://www.heiq.com/news/heiq-expands-application-of-heiq-allergen-tech-to-upholstery-fabric-through-collaboration-with-culp/

£15k buy 🤔

Pop into have a look every now and then here due to the promise AeoniQ seems to hold but good to see them win a major contract with synbio too.

It was about time they had some positive news imo.

And now Darren Morcombe has increased his holding from 10.45% to 11.55%… 🤔

So someone invested £250k to buy 2% of the company yesterday afternoon… 🤔

Dave

blimey,200p down to 9p,that's one long downtrend.

anyway,its all about timing and it looks like you got this top up,spot on.

once those placings have been offloaded.

since covid and high inflation,there's a lot of 5 year charts,mirroring heiq's.

bad news if you bought before 2020,good news,if your buying in,around now,just before central banks,start lowering interest rates.

soon be SUMMER.LOL.

I don’t disagree with you Troajan. I’ve been topping up down here over the past week or so and managed to get my average down to 15p (now got over 1.7m shares 😳) as think this will get back up to 50p+ over the next couple of years so good to see some buying today!

I'm in the same boat. significantly under water. On paper the products and the collaborations look good, but have we all been used to finance someone's personal play thing?

I didn't take part in the retail offer because I think it will keep dropping below the offer price. Thankfully i only speculated a little in this company.

The lack of updates frustrates me. This seems to do nothing.

I only speculated a grand on this a few years back, but at £1.31 a share.

I wish I'd sold out as soon as the shares resumed trading a few months back. Instead there is this daily dribbling away of value. A very frustrating share to hold.

Spread over 14 offices in about 8 time zones in 5 continents they would appear to be an overly complex business.

And without being cash generating I would say they were fighting on too many speculative fronts.

It is no wonder that they have struggled to keep up with reporting since listing. Further pains ahead me thinks until they can simplify and focus.

Restructuring/refinancing still to come.

What happened to the Jan trading update?

Looks like we are stuck waiting until the publish final results in April.......assuming they can now get their accounts done in time.

One frustrating share to have been holding the last year this is

See more directors buying this in 2024 ...very cheap now

Primed for a bounce up

I wonder how their plans to raise $20M series A for the 3000 tons manufacturing plant in Portugal are progressing.

I see these multi-bagging and a great time to pick these up today

Money to come in ...news expected

Have written these off now. Expecting a lowball offer, probably from management, to take them private again.

I can’t see them going to the wall! The business has been around for almost 20 years. I bought and sold back in 2021 but bought a few more just before they were suspended but have been hoovering up shares down here since they started trading again. I feel confident that they are a good investment, even at double the current SP but I guess only time will tell whether I’m right or wrong…

Management seem to be the epitome of the statement 'power is nothing without control'. They seem extremely innovative and entrepreneurial but without the ability or class to manage it properly over a long period. I am a small investor here and I would like to have the confidence to add more as there are some aspects of their business that I like - but they scare me a bit.

Unpredictable: as likely to go to the wall from their exploits as much as be the next big thing.

I think the risk here at the current SP is minimal. Yes, they’ve made some mistakes (delayed audit) but they will have thrown the kitchen sink of bad news at this at the end of last year. The bottom line here is that this is a good business that’s gone through a poor trading period, having got ahead of themselves but the MCap is currently at about 10% of what it IPO’d at so I for one think it’s a pretty sure thing to at least treble my money over the next 6-12 months and multi bag over the next 1-3 years! The team running this business have lots of skin in the game and Darren Morcombe, who helped IPO it, has recently increased his shares from 3.99% to over 10%! DYOR

Expecting to hear news of a refinancing deal and/or equity raise before the end of the quarter. Also an update on their cash burn. For me this is a company of extremes eg. Raising equity in a sub at $100m+ valuation from blue chips but only valued at a fraction of that overall; complex international footprint but unable to do the basics right (delayed audit). Plenty of risk here still from where I sit.

“Doesn’t mean they will of course”

But if they weren’t thinking about buying more why bother going to the effort of splitting up the party… ?

Let’s hope they all do at this market cap!

* 26.01%

Darren Morecombe is now outside of the Concert Party. Per the 2020 prospectus he had 3.99% of the Company.

So DM can buy up to a further 26.1% before he hits the 30% threshold, and the others now have an additional 3.99% headroom on top of what they had previously to make purchases before they hit the 30% limit.

Doesn't mean they will of course.

So does that pave the way for the members listed in the Concert Party to now buy more shares at this bargain basement price as long as they don't buy more than another 11.16% of the total shares?

Positive

Does anyone know if the US$2.75M settlement with ICP Industrial Inc. announced in the RNS today is good news, bad news, or as expected?

Nice close in the afternoon and looking very goo finish

On the leaderboard.....moving up nicely and up 11 percent .....should see a strong close to finish

Risers on the leaderboard.....buys outstripping sells and buyers coming in strong

Now 14.00 has been taken and mms ticking this up .....we should see a very interesting and strong last hour and momentum is now in full force

Risers on the leaderboard now ....some good and chunky buy kicking in and buyers flooding in now as they are seeing this is very cheap by the looks of it

Nice swing back up now taking place and very strong buying momentum coming in now

Nice blue start this morning, lets see how much of bounce up we can get today and see this being a volatile share with big swing up and and downs.....maybe a traders paradise share....but lets see how it gets on today

Quarter of the value dips with no news! I get the risk but what is the reward? Another good kicking in the gonads.

Wow very cheap now.....anyone else buying at these bottom prices?

I could have swore it was but you are correct it is main i just checked.

Either way lets hope for progress in the Jan update (assuming they still do one)

Strange there wasn't any director buys when the stock dropped to 9p considering CEO topped up at 3x that value previously