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@AJP reckon so! I will keep topping up at under 12p. I have more than enough ITX shares in my portfolio now but in my view it’s such a safe bet now that we know the company had a high quality investor banging on its door to buy at 12.1p. When I first bought in at 9 pence I was worried I might have missed the best in terms of return on shares but after yesterday I realise it is still very early days because as they said consumer markets are still in the early stages of converting to more sustainable products. I genuinely believe if I hold this stock long enough one day it will be worth a pound a share.
Hi
I did read somewhere that they had up to 45 days to make a filing, but that may have been on the American markets, surely the transaction must show up somewhere on this II portfolio?
Day traders moving on, chance to buy the dip, think we will drift between 12p/14p till the half year results date is issued, then we will see a rise into the results and beyond.
ATB
AJP
https://uk.practicallaw.thomsonreuters.com/w-009-1710?transitionType=Default&contextData=(sc.Default)&firstPage=true
AIM rule 17
A holding of 3% or more in any class of AIM security (excluding treasury shares) and any increase or decrease in such holding through any single percentage point.
AIM company must notify via a Regulatory Information Service (RIS).
They haven't reached 3% so don't need an RNS.
Whether market or off market is immaterial.
I don't think that they have to disclose their holding because they didn't buy the shares in the open market.
Does anyone know whether the new II has to disclose their holding at any point ( is there a timescale within which this has to be reported?) or because it is under 3% then they does not have to disclose?
Unless of course they take a bigger slice in the coming months?
Must be significant? or is this common practice?
ATB
AJP
John was also very clear that he has no plans for licencing deals and no plans for extra manufacturing facilities in Europe or elsewhere and that this approach was normal in this industrial sector - this I think gives us great clarity - especially as we know that there is plenty of space for expansion at the factory and cash reserves are now adequate for a couple of years.
Another thing that I picked up on yesterday was when John said not to get too caught up on percentage rises, as we started from a very low base and the initial percentage increases were huge, the percentage increases we are at now may be slightly smaller, but the actual dollar value is much greater if that makes sense?
2019
1st half $0.45 mill approximation
2nd half $ 0.85 mill approximation
2020
1st half $1.1 mill
2nd half $2.2 mill
2021
1st half $1.5 mill plus (projected by me) 39% up over same period last year
2nd half $3.0 mill plus (projected by me) based on previous years
He mentioned $500,000 in the presentation was this a hint as to the increase in revenue on the first six months of this year, that increase is more that we turned over for the first six months of 2019
Think we are still in the early stages, but the potential for our ingredients spreads across a huge spectrum of products.
ATB
AJP
One thing that I did pick up on during the presentation was a new product area - polymers in fashion products.
Basically that means that Itaconic Acid can be used as a potential substitute for products like Polyester - containing plastics - for the manufacture of clothing.
The global apparel market is projected to grow in value from 1.5 trillion U.S. dollars in 2020 to about 2.25 trillion dollars by 2025.
I guess this is quite a big deal!
Thank you dougerboy and AJP. The great thing about getting a 5 month trading update followed by a H1 update is that we will see exactly how much revenue came in for the month of June. We can then compare that to the average revenue for the first 5 months to see how things are ‘starting’ to pick up.
Excellent summation Smartinvestment.
Another thing to add to the list, not too long till half year results and further updates.
ATB
AJP
Great summary SmartInvestment
I felt the presentation was very solid with clear reassuring answers given to all questions including my question on raw goods supply from China. There were also some golden nuggets in what they said (I took notes lol):
1. As others have commented it was an institutional investor who sought them out. They were “very attractive to us”.
2. Consumer markets are still in the early stages. Consumer markets are still in the early stages of converting to more sustainable products.
3. Formulation development in the last 6 - 8 weeks really picked up.
4. Second half aiming for 2 new major brands and 1 new major European brand. “We will keep you updated”.
5. Introducing one new product (I took this to mean a completely new formulation which would have multiple applications).
6. “Major revensue growth”.
7. “Very exciting stage of development”.
8. Lots of penetration with existing applications. Lots of opportunities for new applications and new products.
9. In answer to question 6 on Target revenue for second half of 2021. “Substantial growth year on year”.
10. “Vast range of chemistries we are sitting on”.
11. “Nice opportunities already emerging”.
12. When asked again on revenues
“Continue to expect healthy growth rates”
13. Slowdown every January / February as new products shelves changed. Really picks up in second quarter. Second half of year always much bigger. Just the ordering cycle.
Hi All
Should we have been expecting fireworks from this presentation? I think the answer is no.
This was the AGM and not a Trading update/ Half year results presentation.
I agree a lot of what was covered was the same as the last presentation and there was not much new to go on, but thing that we have plenty to look forward to, should only be a matter of 3/4 weeks till the half year results, possible RNS tomorrow?
We have plenty of cash in hand, we were approached by the highly regarded Institutional Investor, we did not go cap in hand, that must tell us something, that they wanted to be on board and at the price they paid ?
There was again confirmation of second half revenues being much stronger than first half.
Would be nice to get some meat on the bones as regards paints and plastics, but I guess that will be covered in the half year results update.
Strange that there is never any mention of Solvay, must remember to highlight this in the next Q&A
We have new products being launched in the second half of the year and new ingredients being developed as I type lol
I guess there is a fine line that needs to be taken when giving one of these presentations, possible this is why there was no mention of any developments that could influence the SP as these need to be advised via the correct channels?
There is huge potential here, which can be seen in the incremental increases in our revenues year on year.
Let's see what July and the half year results brings, we are moving in the right direction.
ATB
AJP
A trademark presentation by John - good to hear Laura saying a bit more too and their chemistry is good. Key points: they are making & selling out of NH for the foreseeable future & have capacity growth available/will not licence. New II cash being used on raw material working capital headroom. Tremendous opportunities from our chemistries “for years to come”.
I’m happy, and still hanging my hat on 20/25p by maybe late next year. If sentiment drives it on quicker, I’m ok with that too!
I was impressed, felt most questions were answered well and felt JS explained the share issue and fund raise well. I certainly have no lingering worries around how they are set financially going forward.
JS is always very reserved in how he comes across and today was no different.
Someone previously asked why H1 revenue always down on H2, well that was explained well i thought and i fully expect to see another massive jump up in revenue after H2 results next month.
Not a huge amount of new info, but consistent at least.
Still saying 2nd half will be higher, still saying significant growth. Confirmed no debt, plenty of manufacturing capacity, that money from the placing is being used to strengthen balance sheet and buy more raw materials to create a buffer.
Their discussion of the covid related problems of formulation seemed credible.
He did say they will set out plans on road to profitability in next few months. I guess we don't know if that was the plan all along, or a didge of your question.
It's a steady ship in a positive growing market.
Thoughts on the presentation?
I must admit, I was underwhelmed by it. Very little new and all signals were that growth is not at the levels that some were predicting on here. I was also very disappointed that John openly chose not to answer my question on when they would return a full year profit. That is a very valid question that shareholders would like to know the answer to and by being deliberately evasive, it doesn't build confidence
Thank you, all registered.. Dear Andrew,
ITACONIX PLC will be holding a Post AGM Shareholder Engagement on 24th Jun 2021 at 4:00pm BST.
Please click on the button below to accept the meeting invitation.
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Many thanks Douger.
Superb. Thank you, Douger
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Hi all. I have looked at the AGM press release but cannot see how to log on or register.
Does anyone have any idea how I join, and at what time?