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Biotalys NV (BTLS.BR) are listed in Brussels and enjoy a much (much) higher valuation with no real income as yet, if PHC were going to re-list somewhere else this would be a good place imo.
PHC have a good product line up now which has gone from just one (Harpin) to say five if you include variants, geographical locations have increased too with new registrations and/or partners, the problem is one of scale and reaching that elusive tipping point.
Griffiths, I would have thought he would have sold by now, his recent purchase of XSG is somewhat perplexing.
OAPK20: From what I understand of the minimum requirements for listing on NASDAQ (in terms of financial assets, liquidity etc.) Plant Healthcare might qualify to list there in a decade when they have achieved their long-term goals. In the short term, there is absolutely no point in spending thousands of pounds listing a UK company on minor US exchanges. It simply never trades there, for good reason. There isn't a single UK company listed on a US exchange (which isn't an ADR, which is a very different animal to listing the local share in USD).
I am disappointed that the sales of the product launches come, but there's no profit for the owners (shareholders). Being a bigger company, selling more, but not making any money is pointless. 2 years ago (when funding good ideas with free money) ended, the only companies any investors beyond VC were interested in were those who could make a profit. Love the products, but I don't understand the point if there is no profit.
Occam - I used to hold here but no longer following the current board announcing on 2nd May 2023 - "Therefore, the Board has decided to evaluate over the coming weeks a range of financing options for the Company, including how Plant Health Care might access non-dilutive and strategic capital to support its growth ambitions. As part of this process, the Board intends to consult with shareholders as to whether AIM remains the right capital market for Plant Health Care to achieve its ambitions"
That destroyed any trust in what could have been a superb company. The dual listing, in my view, remains indicative of this Boards ambitions to delist from AIM and gain a full listing in the US. "
18/05/23 - This didnt inspire much confidence "Whilst there are various perspectives within the shareholder base with regards to the listing on AIM and there is a broad acceptance that the Company is currently under-valued, there is clearly a prevailing view that the Company should remain listed. Having considered the feedback in full, the Board is pleased to confirm, therefore, that the Company remains committed to its listing on AIM, including for any potential funding needs."
Also Scobie Ward has increased their holding (and influence) to 13.1% whilst Richard Griffiths has reduced their holding to 5.54%.
The current SP suggests I made the correct choice for me. Until there is a new board in place who are committed to growing this company as a UK listing its not for me. Still love the products and what the company as a whole are trying to achieve but my view is the current board care little for PI's and would think nothing of delisting from aim with zero thought or notice to PI's.
Be interesting to see if Richard Griffiths remains a seller and clears out fully from PHC.
Until there is a Board change or PHC's future listing is confirmed whether AIM or NASDAQ ill keep watching from the side.
During the last IMC presentation one question/answer related to a wind down of R & D following current product launches.
Without going back the answer was something like, 'heavy lifting is done, time to reap rewards' or words to that effect.
This has to be the core objective for 24/5 to get those costs down whilst showing modest growth, 10% announced so far but it needs to halve at least for this year imo.
Agree, TAKE-oh has some great attributes for soy, Brazil partner announcement would be good, or can they not use existing partners ?
Yes, you beat me to it posting this. It's quite upbeat and the market for Nemacides in soy is huge.
Seems to me we're in the middle of a lost year (23-24) - all doom and gloom in the Ag sector generally.
PHC still working hard...
Looking forward to some new distribution deals and positivity in the market.
NC ag tech pioneer launching eco-friendly 'plant vaccine' into Brazil soybean market
https://www.ncbiotech.org/news/nc-ag-tech-pioneer-launching-eco-friendly-plant-vaccine-brazil-soybean-market?utm_content=281189432&utm_medium=social&utm_source=linkedin&hss_channel=lcp-28700
Newlands entry appears to be on the low side, last notification on 28 November 2023
4.582%
15,649,310
Add the major holdings up and we get 67.5%. The directors hold 2-3% and I know of at least two PIs with 1%.
That’s 72% of shares accounted for so I reckon the float is quite small.
Just add good news really.
Investor web page updated as of end Dec 23, two largest holders now have 30% between them.
https://www.planthealthcare.com/investors/shareholder-information/major-shareholders
3.5m reported after the bell.
Occam, you lost me a little bit there with your reply, I think the listing was more aimed at US investors buying rather than UK investors buying in US market, that requires WBEN form.
I wondered being alongside peers in the bio stimulant industry might help, Biotalys for example is listed in Brussels enjoying a much more favourable valuation.
Biotalys NV (BTLS.BR) Brussels
@1Pencil - UK stocks simply cannot be traded on a US exchange. The flat fee for settlement of a foreign share is $50. That's not a huge amount, but it is 15% premium if you were to buy all the shares on offer. Also, 15% to sell, meaning the break-even (if the exchange rate stayed the same) is about 40%, before tax on gains! No surprise to me that no US investors can buy the US listed stock. The company have a great future, in my opinion, and are very cheap vs competitors in the same field (pun intended) on an EV to Sales Y5 basis. They would be better served either being a full US company (with US accounting in $), or being a pure UK company. trying to be half pregnant with a US listing is a drain on resources which brings no benefits (that I can see).
Check, but pretty sure the US listing was closed down due to lack of interest, PHC also do their own PR too.
No TR1 holdings notifications, surprised we haven't seen one from RG
Hopefully news not too far away on Brazil distributor for MOSHY (PHC25279) and TEIKKO
Because they wanted to grow their US investor base. It’s not really worked as they planned though
In the last press release, the management deferred their compensation to preserve capital and took options, to show their commitment to the company. I'm a bit cynical about taking options with an exercise price of 1p... I would sell my shares to have such a deep-in-the-money option to buy at 1p over the next 5 years! Skepticism aside on that front, I do not understand why the company has a listing in the USA. There is absolutely no benefit that I can see from paying tens of thousands of dollars to have a listing.
Plant Health Care Brasil
Encouraging to see actual results as drought is one of the major variables with climate change. The subject line is my own interpretation as the translation maybe a tad off.
"In this area, located in the city of Tupaciguara, MG, the H2COPLA was applied via micron. The video was taken on 12/21/2023, 15 days after planting. And the area was under a severe drought in the first few days after planting! Resisted! The area treated with H2COPLA presents better seedling development when compared to the STANDARD FARM AREA (Producer). The difference in these first days is striking. Check!"
Adding some context to below post, roughly 75% of PHC's revenue was derived from Harpin sales in H1 2023
Harpin revenue $2,810 - Saori revenue $1,050
Four of the five new approvals are from the PreTec platform with Poland approving Harpin. Its hard to forecast sales into 2024 but would have thought they stand a fair chance of scaling up and hitting numbers, especially at the beginning of 2024 growing season.
Two more approvals in Mexico waiting approval to add:
Submitted for approval
PHC25279
PHC68949
Not easy keeping tabs with different brand names, registration submissions and application approvals.
---------------------
On another note, market has traded around 5% in volume since RG's last TR1, looking a bit better for clearing the overhang.
List of new products approved and ready for sale in 2024, appreciate OBRONA launched in 2023 but more or less missed growing season hence inclusion now.
MOSHY (PHC25279) Brazil to control foliar diseases in coffee and sugar cane
TEIKKO (PHC68949) Brazil to Control Nematodes in Soybeans
OBRONA (PHC25279) USA fungal and bacterial plant pathogens within fruits, nuts, vegetables, and row crops.
Innocul8 (PreTec) UK promoting greater yields and higher quality of potatoes, berries, peas, beans and grapes.
HARPIN Poland, included as approved late Aug 2023
That's quite a step up from last years offering, still India with Novazymes/Harpin to come in along with OBRONA in California.
Let me know if I have missed anything.
Plant Health Care Brasil LinkedIn page
In this post we publish a small "spoiler" of the results of today's visit (01/04) to our first field, located in Bandeirantes, MS, in a soybean of the Olimpo variety, planted on 11/03/2023, in an area infested by Root Lesion Nematode (Pratylenchus brachyurus) and Coiled Nematode (Helicotylenchus dihysteraa).
This is the joint presentation from Jan 22 with Wilbur Ellis
From 20.00 minutes in talk is more Pretec focused although the whole video is good to look back on now registrations are coming through.
https://www.investormeetcompany.com/meetings/wilbur-ellis-and-plant-health-care-discuss-us-market-opportunities
Wilbur Ellis would probably market TEIKKO once US approval is granted, seem to remember during joint IMC presentation they were keen on nematicide technology as part of an overall solution, TEIKKO has good compatibility with most other products combined with long shelf life (no concerns about over stocking).
Fair credit as they have done a pretty good job at sowing the seeds (excise the pun) ahead of formal approval, coverage in the trade magazines has been good too.
Sounded confident on approving a distributor soon for this years growing season, that would be welcome given US overstocking issues.
Great news.
Approval of Teikko is a tonic for the company bringing an important and valuable PRETec product under the control of the company to commence sales; just in time for the Soy growing season.
Now to get after those 45 million hectares; but then I can’t think of a better field team to go at that than PHC (Brazil).
[From LinkedIn]
Despite all challenges that impacted Agribusiness in 2023, we are please to reach the end of the year having made significant achievements.
Harpin Protein business globally continued to provide consistent results for growers and we continue to add new partnerships. As part of our corporate strategy, Harpin αβ plays an important role, as it enables plants to fully develop their productive potential and delivering higher yields.
Following the initial regulatory approval in France in October 2022, Plant Health Care has pursued Mutual Recognition to expand the use of Harpin αβ across Europe and Poland is the first EU country to grant this status for Harpin αβ. Europe is the world's largest market for sustainable agriculture with annual sales of over $2 billion.
Following the successful launch of SAORI® in Brazil, technologies from our PREtec platforms continued to be launched across different regions and new registrations were granted: Obrona™ (USA), Moshy™ (Brazil), among others. These technologies protect crops against important diseases and improve yield.
Regarding our nematicide technology, TEIKKO™, we are already on the field preparing the commercial launch in Brazil for 2024/2025 soybean crop season. United States and Mexico registrations were already submitted.
All PHC Teams worked hard and together to increase the efficiency of our operation, always respecting diversity, the environment, and the transparency of our business.
The next generation of crop protection biological technologies that Companies are planning to launch in the future, PHC is already commercializing globally.
Our Peptides are differentiated and protect plants from inside out, with no harm to food, humans, and the environment. Peptides by PHC.
The year is ending, and it was a great journey.
I would like to thank everyone who walked with us during this year and helped us turn challenges into learning and achievements.
We will continue together helping farmers to sustainably grow more.
"And that reason is very simple to understand. Even though the Brazilian market has a 70% share of biological products in the management of nematodes, some precautions in their application in the field still need attention, such as storage and transport temperature, shelf life, compatibility with other products and influence of environmental conditions after their application.
PHC68949 (TEIKKO) is a peptide with a unique mode of action, based on PREtec – Plant Response Elicitor Technology and brings benefits in nematode management, such as ease of storage, three years of shelf life, compatibility with other products, including fungicides, ease of use in seed treatment and consistent efficiency in different environmental conditions."
https://www.linkedin.com/posts/plant-health-care-brasil_phc68949-the-only-bionematicide-that-protects-activity-7146490086690402304-9ZcE?utm_source=share&utm_medium=member_desktop
Volumes are seriously low across the board, not a great time to unload when many will be away from their desks.