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in recent days and some decent buys. Wonder if something is about to happen here
looks pretty good this. the workforce got a pay rise last year,so someones optimistic on the board.
Surgical Innovations Group plc ("SI" or the "Group" or the "Company") Final Results Surgical Innovations Group plc (AIM: SUN) today announces its preliminary results for the financial year ended 31 December 2014. Summary · Revenue of £4.029 million (2013 restated: £7.478 million) · EBITDA loss, adjusted to exclude exceptional items, of £52,000 (2013 restated: profit of £1.681 million) · Exceptional items of £8.388 million, of which £7.797 million were non-cash impairment charges · Loss before tax of £9.829 million (2013 restated: £44,000) · Refinancing successfully completed during November 2014 comprising new investment of £1.5 million and refinancing of existing £3 million term loan · Cash balance of £678,000 at 31 December 2014, with subsequent cash generation during Q1 2015 Doug Liversidge, Non-executive Chairman, commented: "The financial performance for 2014 was extremely disappointing. However, the Board and staff of SI have worked tirelessly over the last six months with the key objective of restructuring the business to secure a sustainable future for the Group. "Following a turbulent 2014, the Group now has a stronger platform to support the business over the medium term. The Board remains committed to cash generation and the Directors are satisfied with the progress made since the refinancing was announced in November 2014."
will we have a rights issue?
My av is over4p. Held for a while. Only reason not sold is cos last two biomeds sold at a loss then subsequently soared. Xen and oxb
ive had em for over 15years i think in at 9p then 4 p now thats boring
nice little bounce jolly.
yep...and could be a long way off proper recovery (if that ever happens) ...the cryptic post ref to sub 1p
the time is soon?, had these for a few years now getting bored with them tbh
the time is soon
Agree!!! But how long can it continue to bleed? Does it have an infinite supply of blood?
better red than dead
Surgical Innovations Group plc (the "Company") Update The Company has previously announced that it would report a significant loss for the year ended 31 December 2014 due to a number of factors. In connection with the preparation and audit of the annual accounts, the Board is in the process of its annual impairment review of the Company's intangible assets, which are primarily the capitalised costs of product development. The review is not yet finalised and the results agreed with the auditors, however the Board expects that there will be an additional, substantial non-cash impairment of the intangible assets, which will impact on the results for the year. In addition, the Board expects that the results will include a significant, non-cash write down in the carrying value of inventory. Notwithstanding these issues, the Directors are satisfied with the progress made in restructuring the Company since the refinancing announced on 18 November 2014. In particular, the cash position is ahead of forecast. A further update will be provided in the announcement of the final results.
red again
most managers are clearly focused on one thing...and it ain't shareholder value creation
Jolly: DBL made it pretty clear at the only meeting I was able to attend that he had no time for PI's. He is one of those who gives capitalism a bad name. imo.
or · the closing mid-market price on the last trading day before the Company receives notice of the intended conversion of the Loan Notes. ...so running yield, seniority and attractive conversion terms ...doesn't look great for the humble PI imv
The Loan Notes are repayable at par on the third anniversary of their issue together with interest which accrues on the principal outstanding at 3% per annum in the first year rising to 7.5% per annum in the second and third year following their issue. The Loan Notes carry the right, subject to the Company's ordinary shareholders passing the relevant resolution at a general meeting, to be converted, at a future date, into such number of Ordinary Shares as is equal to the principal and interest outstanding on the Loan Notes to be converted divided by the lower of either: · 2.5p, representing a premium of 92% to the closing mid-market price of 1.3p on 17 November 2014; or · the closing mid-market price on the last trading day before the Company receives notice of the intended conversion of the Loan Notes.
so why rush to buy?
on the line
This has every prospect of becoming a great company but there seems something lacking in management.
Smith and Nephew were small fry once and look at their SP now
Happy with that. Anyone think a t/o may be on the way, or maybe sp just recovering some lost ground.
I should have had the guts to double up at 1.1p - Oh well, my 4p break even is on the horizon
They can hardly claim that any future losses are due to the hiigh value of the pound. Perhaps the Sun will now shine on us now.