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Started: Ricardo2019, 6 Jun 2024 21:06
Last post: Ricardo2019, 6 Jun 2024 21:06
I kept my shares when the delisting happened. I've been waiting to see what the company does and what I hadn't noticed was a 29p (2 d.p.) per share dividend paid in April. A very nice 16% return (based on my original purchase price). There's nothing about this online so I guess I need to contact the company to receive the announcements.
Anyone else heard anything from the company?
Started: Ricardo2019, 31 May 2023 12:33
Last post: Ricardo2019, 31 May 2023 13:16
And indeed, it is now available:
https://sourcebiointernational.com/wp-content/uploads/2023/05/SourceBio-International-Limited-Annual-Report-2022.pdf
If anyone is still here... I was wondering where the latest Annual Report was, as it is later than the date it was released last year so I contacted the company. This morning I received a reply from the CFO saying that the report was signed off last Thursday and is currently being upload onto the website and filed with Companies House.
Started: Ricardo2019, 9 Nov 2022 08:30
Last post: Ricardo2019, 12 Jan 2023 15:46
It is already private. The delisting RNS came out 30th Dec.
A take it or leave it price has been offered already at 115p. As you didn't take it, like myself, you are now a shareholder in a private company.
I'm not quite sure how corporate comms works from here - i.e. how we receive notices of AGMs etc.
I'm not experienced in this kind of thing, I don't have much invested - but what happens now, do I get a take it or leave it price when it goes private?
Voted against every proposition. Losing battle.
Money launderers this lot. AIM to blame.
Not invested but the volume here both retail and institutional was always rubbish even for small caps to be fair.For some reason nobody much seemed interested in buying and/or trading.
I'm wondering just out of curiousity right now whether anyone can clear up if they get the financing (probably from private equity in this macro market?), whether they can compulsorily buy the shares that aren't tendered if enough people tender % wise.Similarly to other takeovers pretty much.
There are some large sells at around 105p, you think they’d wait for the tender offer and get 115p. I’ll see who sells up and make a decision in the next 2 weeks or so.
Started: chromeinvestor, 5 Apr 2022 09:45
Last post: Assword, 21 Oct 2022 13:05
The SP and lack of communication is a big worry.
Large director buy confirmed by RNS
Director /PDMR share buying today ?
Wakey, This company is just under the radar-It will get noticed once the sp starts rising which will then be too late for most
Thanks Regulator-I did miss that, but very pleased they're considering it.
Started: Troajan, 5 Apr 2022 09:56
Last post: Troajan, 5 Apr 2022 09:56
Nothing exciting for shareholders. No dividend after months of stagnation and dropping SP yet profits are very tidy. What do I get in return?
Started: GW2014, 18 Jan 2022 07:21
Last post: unhooked, 25 Mar 2022 18:57
Quite right, thanks. Overcomplicating things.
"So, when making the 2020 comparison, are they including the 9 months when it was still private?"
Why wouldn't they? Whether the company was private or public makes no material difference to the revenue figures.
Could somebody help me out please? In the update they highlight an 82% increase in revenues and 70% increase in adjusted EBITDA on 2020 numbers.... but the company only floated in October 2020. So, when making the 2020 comparison, are they including the 9 months when it was still private?
Great underlying business ex covid.It was never really a Covid share bar one month.
Great revenue from Covid testing but I was expecting higher profits, perhaps that’s why investors are dumping stock, worrying about future profits without the revenue from Covid testing
Started: Dad413252, 18 Jan 2022 12:51
Last post: Dad413252, 18 Jan 2022 12:51
£2.05
Started: Applepiemightyhi, 7 Jan 2022 15:30
Last post: Applepiemightyhi, 7 Jan 2022 15:30
This is definitely being held back by these shorters
The removal of the confirmatory PCR testing by gov appears to be a similar play as seen in Jan 21, whereby infections are so high the need for the accuracy that a PCR provides is redundant. However, as seen in March 2021, once infection rates had settled, mandatory PCRs were reintroduced in order to detect new variants (SourceBio are 1 of 8 labs in UK able to do this – genome sequencing) and provide higher accuracy.
It also seems counter intuitive that pre-entry travel testing won’t be back again as cases drop in order to identify new variants.
All of which bodes well for Source, especially given NHS contracts mentioned by Jay in H1 result. Interestingly, looking at Source’s test statistics, they were still at approx. 4k tests per day during Jan-Mar21 as they were ramping up.
Majority of countries are still requiring either PCR or fit to fly (non-NHS LFTs) prior to entry so testing should continue, albeit at lower levels.
San Diego test facility was expected to be launched Q4 of 2021 at 2k/day. News articles from San Diego suggest lots of testing in general. In additions, looks as though US have much higher selling price of PCR tests – unsure how this will play out.
So no pcr test needed for travel back to the £1-20s we will go.
Possibly back to November travel testing as you say ,travel testing will be on & off with low or high
testing requirements depending on the circumstances of various countries but the underlying need for testing at home or travel will remain for sometime yet I would think.
The figures/update should give a clearer picture of the future…..
Everyone rushing for the exits as testing for travel looks to be on the way out shortly.
Cant wait for results in next few days. Should be top of forecasts with added bonus of possible aquisisions.
Started: GW2014, 29 Dec 2021 20:05
Last post: GW2014, 29 Dec 2021 20:05
We pretty much know for certain that SBI will post full year revenues of £85-£90m - and with ebitda 30% it likely gives them £45-£50m in cash in bank after tax. We also know that opening of the California lab is imminent which would add 2000 pcr tests per day. it’s how you value that on the presumption that the pandemic goes away in 2022. Market cap is currently £120m and I can see why Liberum’s PT is 190p but seems conservative.
Last post: Dad413252, 29 Dec 2021 10:37
Massive demand for testing at the moment all bodes well for the trading update!
Started: donmac101, 29 Dec 2021 07:48
Last post: donmac101, 29 Dec 2021 07:48
Tipped in a few places over the holidays so share price should get back to a sensible level.Update due early in the new year, will add to my holding in the next few days.
Started: rivaldo, 23 Dec 2021 08:37
Last post: rivaldo, 23 Dec 2021 08:37
Christopher Mills talks positively about Sourcebio (03:00) here:
www.youtube.com/watch?v=cG7_82WZdmc&t=2135s
Further coverage here not posted before:
Https://www.proactiveinvestors.co.uk/companies/news/969017/sourcebio-will-get-boost-from-pcr-testing-upsurge-as-omicron-spreads-predicts-broker-969017.html
"SourceBio will get boost from PCR testing upsurge as Omicron spreads, predicts broker
The rolling average weekly PCR tests conducted is the 2nd highest since the pandemic began
Mon 13 Dec 2021
SourceBio International is well placed to benefit from the latest surge in PCR tests for Covid sparked by the Omicron variant, according to analysts at Liberum.
PCR testing volume in the UK has steadily grown in recent months with the rolling average weekly PCR tests conducted of 454,000 now the second-highest since the pandemic began, said the broker.
UK travel requirements mean that all arrivals must complete a Day 2 PCR test through an approved provider, a list that includes SourceBio.
In October, SourceBio’s PCR test was endorsed by Which? as the best provider of affordable Day 2 testing and ‘the most reliable choice for consumers.
The reintroduction of a mandatory Day 8 PCR test for UK arrival is also said to be under consideration by the government.
With the base business also now trading at pre-pandemic levels, Lberum believes SourceBio should meet forecasts for revenues this year of £86.5mln and underlying profits [EBITDA] of £21mln with potential to do even better in 2022 if more testing becomes the norm.
An update on trading is expected in early 2022 and Liberum sees potential for forecasts to be raised and has a buy rating and target price of 190p."
Other shares in the Covid testing sector had excellent days today & we are therefore lagging,which will hopefully change for the better once we publish a year end trading update .
Consequently I increased my holding today
Can see a slow climb upwards into january ,results due around mid jan ,then whoosh as it hits home that sbi are in a sweet spot in current epidemic.
The way it’s going testing is going to be a permanent feature in our lives for years & years to come,
Sourcebio seems very well placed to be a major player in this market, surely it’s only a matter of time before the share price reflects this?
Started: rivaldo, 16 Dec 2021 14:04
Last post: rivaldo, 16 Dec 2021 14:04
Https://twitter.com/SourceBio/status/1471096433654829059
"We are experiencing extremely high levels of inquiries and demand for our COVID-19 Testing Services"
Started: HideInPlainSight, 14 Dec 2021 16:21
Last post: donmac101, 16 Dec 2021 10:03
Cmon Jay a wee trading update would send a rocket under the share price.
Sourcebio on twitter
"We are getting overwhelming demand for our covid tests please bear with us" results in a couple of weeks could be mega.
LO adding to their substantial holding tells us clearly what they think if our prospects
Well it wings for the sleepiest c-19 stock on AIM... How long will it rest before it wakes up with a bang? Surely positive drivers here... I'll hold, top up and wait.
Started: Dad413252, 13 Dec 2021 16:32
Last post: rivaldo, 14 Dec 2021 13:27
Here's the narrative from Liberum's new research - they say buy and have a 190p target:
Https://www.sharecast.com/news/broker-recommendations/liberum-stays-at-buy-following-emergence-of-omicron--8858910.html
"Liberum stays at 'buy' on SourceBio following emergence of Omicron
Analysts at Liberum reiterated their 'buy' recommendation and 190.0p target price on shares of SourceBio International, telling clients that there was room for the company to beat its estimates for 2022 following the appearance of Omicron.
PCR testing was now at its second-highest level since the pandemic began and the government had reintroduced Day 2 PCR testing for travellers returning to the UK, they pointed out.
There were also discussions to reintroduce mandatory Day 8 PCR testing for travellers.
All were positives for the provider of laboratory services.
Furthermore, it base business was trading at pre-pandemic levels, the analysts said.
All told, that left the company "well-positioned" to execute against their estimates for the 2021 financial year of £86.5m in sales and earnings before interest, taxes, depreciation and amortisation of £21.0m and to "potentially outperform in 2022."
"We have left estimates unchanged at this stage whilst the outlook for PCR testing volumes remains uncertain. We await an update in guidance from management in early 2022. Nevertheless, we believe there is upside potential to forecasts. We reiterate BUY and target price of 190p.
"[...] The 2022 testing outlook remains uncertain but if the demand for private PCR testing remains high and international travel continues, then Source is well-positioned to benefit and outperform on expectations."
Positive trading update should be soon announced as our C-19 testing division must be outperforming our strong trading from earlier in the year due to the substantial increase in testing,which is likely to increase substantially over the coming weeks,unfortunately, resulting in further substantial increases in our bank balance
At least another 21mill in the bank heading towards 50% cash in bank versus market cap a steal!
Heading to 200p in the next few weeks pre results.
Liberum 1.90 price target , forecast upgrades possible with increased PCR testing
Started: donmac101, 8 Dec 2021 08:10
Last post: donmac101, 11 Dec 2021 09:41
Remember only 15mill shares in public hands so any good news this will move fast.
Trading update due early mid Jan .
My wife ordered a test 2 weeks ago to travel to lisbon placed the order at 10pm and lo and behold it was through the letterbox 8am the next morning.
Google best travel covid test and who pops up SBI.
Which have updated blind testing on dec 3rd and we are top recommendation.
Started: MrBB, 5 Dec 2021 08:07
Last post: MrBB, 5 Dec 2021 08:07
Announced yesterday should provide a further boost to our C-19 testing division which we know was already having an exceptional year,despite the expected reduction in revenue in Q4 following the previously announced reduction in restrictions.The new rules may prove (hopefully in the wider sense)to be temporary , but will nevertheless provide an opportunity for us to generate more revenue & profits over the coming weeks ( & maybe months) ensuring our company is even more cash rich & able to expand its other divisions while also seeking new opportunities.The C-19 "boom" benefitting several companies benefitting from the awful pandemic has , so far,passed us by, but perhaps the Market will now recognise how well we have done & are likely to continue to do.
Started: chromeinvestor, 2 Dec 2021 09:40
Last post: donmac101, 4 Dec 2021 20:33
Cant understand this price totally undervalued .pcr now needed b4 arrival. Must rerate back to £2.
Yep just checked the half yearly report-£101m of debt repaid-that will save £11m in interest payments alone:
Cash balance of £17.2 million (31 December 2020: £8.4 million and 30 June 2020: £1.5 million) with no debt (30 June 2020: £101.3 million)
Am I right in thinking theyve also repaid all of their debt (may have been another company)?
Started: HideInPlainSight, 30 Nov 2021 10:42
Last post: chromeinvestor, 2 Dec 2021 09:27
I can't understand how this is staying under the radar, given the potential here and the genomic sequencing that must be in uber demand right now-Dont know a company who does just that in the uk, Europe and USA do you?
Agree patience is key and also that cash position should have risen substantially.
Cellular pathology and genetic sequencing a huge opportunities in the future and if the current COVID testing windfall allowed them to acquire business in those areas it paints a rosy picture both short and long-term.
Just registered for updates direct to my email & got a personal email from a director within 24hrs
Nice touch…..PS looking at the huge growth in PCR tests completed in the half year statement
that cash position of 17m should be significantly improved .
Nope thats all correct .All i can say is welcome to the AIM market.But remember cream always rises patience required.
PCR testing back for travel and we have the best value day 2 test on the market according to Which?
£110m MC, below IPO. But with sales growing to approx. £85m this year from £50m. With a growing cash war chest, last noted at £17m.
So..... Am I missing something obvious?
Why is this so under the radar/unloved?
From the boss in the interims:
"We expect the focus of acquisitions to be similar or complementary businesses most likely relevant to the Healthcare Diagnostics (with cellular pathology and precision medicine targets being of particular interest) and Genomics business units."
SBI will use the testing profits to push the business on.
Last post: Dad413252, 29 Nov 2021 13:51
Will we get an RNS we had one when the government dropped PCR tests now they are coming back
be good to get an update to know if the company has kept the capacity for testing at the previous high levels…