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https://www.londonstockexchange.com/news-article/TSTL/tristel-wins-aim-growth-business-of-the-year-award/14777598
Very well deserved IMO
Thanks Lew, I took it from some rns I think. You are quite correct. I am shocked by the fall today but it is a buying opportunity no doubt.
Investec buy initiation gave it the kiss of death...I guess it sells off like all the other growth / quality names but with a lag
20 Dec is a Sunday. Payment date is actually 18 Dec.
7% drop in two days seems strange for this share, it’s usually solid
I feel that Trist is now in a bit of a sweet spot for sales, they must still be selling lots of surface cleaning products but routine work is now also going on in hospitals.
The expansion into India must also offer a huge potential market.
This is one that I am happy to sit on for quite a few more years...
Not sure what has caused the drop but sub 500p is buying territory for me. Probably some profit taking and perhaps a little fear of the rating. Still good value in my book. And what's better for me is the near 4p divi on 20 Dec can be recycled back in buying cheaper shares.
Looks like I’m eating my words!
Yes Mr B. Passed my expectations already. I think there is good momentum here so won't be selling any yet.
Creeping up slowly. 544p to buy now. Looks great on the chart
I am waiting for 528p or 530p on the ask again as the buying pressure is huge here. The MM's maybe have to move to 515 or 520p to garner shares.
Full ask of 520p being paid. 510P on the bid coming? New ATH's looking more likely.
Back over 500p. From the Q and A America is progressing and they are devoting more resources to it. India is a start from scratch but a big market. Lots to like to justify the lofty rating. Will be putting my divi back in to buy more when it drops.
so I expect 490p to return on the bid in short order. We may even go over 500p as a lot of sellers on the news are already out. Held on myself so will shed some only at over 500p. Useful divi for me in two and a half weeks which I will be investing back in when it is paid out.
Ex-Dividend date: 19 November 2020
Record date: 20 November 2020
Payment date: 18 December 2020
Twas the week before xmas and poor Bob Cratchett had just received his Tristel divi in 2020....
Good afternoon Tiptree. I don't think too much should be read into the sales. I think they are monetising the options while they can and want to enjoy the fruits of their labour. It might be unfair that they issue more but they set stringent targets of growing revenue and the dividend and have successfully done so. The price has to date always gone up some time afterwards so it is not like they are dumping shares which go down. I am afraid it is the culture of the management at TSTL so you either suck it up or spit it out. It is not likely to change.
Thanks for the posts today. I'm invested and see TSTL as a solid business with great prospects. Yet those with the most information keep on selling shares (and issuing more!) and that makes me too nervous - maybe I've misread this one.
At first I thought it was down to low salaries for directors but highest paid director's salary increased from £222k to £307k, 2018-2019: not huge, but certainly generous when one takes into account the HPD's Gain on Exercise of Options of £1.3m (2018: £340k).
It would be great to hear any counter-views on this point please.
Hi Longview, Yes I thought the same thing honestly. I think there was controversy in 2016ish about the amount of shares they awarded themselves and the reputation of the company in investor circles took a knock. I think they are upfront about selling and for balance they have grown the company SP x 12.5 since my initial investment so they are worth every penny honestly. I am still a buyer in fact at under 500p. I would not be surprised if they sold again today. I think the cash pile is odd too. They are not acquisitive. In fact they have a small stake in a very interesting Israeli company which I think will do well but they have no plans to buy more of it. A special divi for a few years would boost the SP I think.
Hi Fallingknife1,
Thanks for your reply.
I bought the shares in March when the SARS-COV-2 virus first arrived on this shore.
Yes, the public evidence you provided speaks loudly of their intention, but because you mentioned that "... been to their presentations and met Liz and Paul too", you might had gleaned private or personal information about the couples that informed your impression.
Another odd thing is in that in their account presentation, they are emphasising each item "... before share-based payments...", which is only typical of start-up technology companies pending listing or newly listed, thus giving a more upbeat picture than a traditional presentation.
I'll continue to keep a close watch of the RNS from this company.
You've a good day.
Morning Longview. Have you held for long? i should say I am big fans of Paul and Liz actually. But here is the evidence. In the last two years alone:
22-Jul-20 Sell David Orr 404.20 GBX 15,000 43,191
22-Jul-20 Exercise of option David Orr 1.00 GBX 30,000 43,191
22-Jul-20 Exercise of option Paul Martin Barnes 1.00 GBX 30,000 30,000
22-Jul-20 Sell Paul Martin Barnes 404.20 GBX 351,095 30,000
22-Jul-20 Sell Elizabeth Dixon 404.20 GBX 198,198 178,334
22-Jul-20 Exercise of option Elizabeth Dixon 1.00 GBX 331,532 178,334
22-Jul-20 Sell Paul Christopher Swinney 404.20 GBX 320,431 643,095
22-Jul-20 Exercise of option Paul Christopher Swinney 1.00 GBX 487,097 643,095
02-Mar-20 Sell Elizabeth Dixon 431.00 GBX 157,523 45,000
02-Mar-20 Buy Elizabeth Dixon 1.00 GBX 157,523 45,000
24-Feb-20 Sell Paul Martin Barnes 422.25 GBX 15,000 351,095
09-Sep-19 Notification of Holding Francisco Angel Soler 0.00 0 3,147,834
09-May-19 Notification of Holding Francisco Angel Soler 0.00 0 6,221,334
22-Mar-19 Notification of Holding Francisco Angel Soler 0.00 0 6,533,334
04-Mar-19 Placing Bart Leemans 242.70 GBX 121,591 364,773
28-Feb-19 Sell Bart Leemans 299.00 GBX 280,000 0
12-Feb-19 Notification of Holding Francisco Angel Soler 0.00 0 2,497,834
11-Jan-19 Buy David Orr 276.00 GBX 380 28,191
19-Nov-18 Buy David Orr 236.00 GBX 8,300 27,811
19-Nov-18 Buy Paul Christopher Swinney 235.00 GBX 8,300 476,429
16-Jul-18 Sell Paul Martin Barnes 285.00 GBX 209,085 366,095
16-Jul-18 Sell Paul Christopher Swinney 285.00 GBX 502,915 468,129
16-Jul-18 Exercise of option Paul Christopher Swinney 53.75 GBX 502,915 468,129
16-Jul-18 Sell Francisco Angel Soler 285.00 GBX 1,750,000 6,673,834
Hello Fallingknife1,
I share your sentiment and others too that the persistent insider selling at the first opportunity is a red flag to investors, notwithstanding regular pronouncement of positive outlook by the company.
I find that a really odd state of affairs.
Can I ask Fallingkhnife1: do you have any specific information that make you formed the impression that
“… no matter how TSTL will perform afterwards Paul and Liz are wedded to selling options on the first possible occasion.”?
Thanks.
Morning Rudolph. Well today's results have confounded me. The international growth is strong. The 12% rise in the divi is healthy in a low rate environment. Very strong cashflow as well. No debt and a £6.2m cash pile. The company have been promising for ages a return of cash if they can't find anything better to do with it. So I now think it has further to go. However I do think there will be a dip of sorts. I expect big options sales today from the usual suspects and some profit taking among investors. I will be adding on dips and think TSTL can go to 600p in the course of the next six months.
Hi Fallingknife, I completely agree on your "I think a few things weigh on TSTL" comments. I loaded up big after doing a lot of research back in 2016, encouraged by Soler's heavy buying. My first sale was when Liz Dixon sold some, but I continued to hold a lot. As time went on my holding had doubled in value and being discouraged by more director sales I sold half. The price continued to rise and I completely sold out after share-based payments or director-sales became a feature of nearly every announcement. I fully expected to buy back on clarity over US FDA and EPA applications, but checking on patent expiry got me thinking that the US were stalling for time. They don't like foreign competition, I fear, on mass-market goods. Alright on luxury items to import fancy foreign stuff but maybe not disinfectant so I'm unlikely to revisit Tristel. Good luck all, I do hope I my fears are groundless.
Amazing results + great future prospects and news to come : "All our twelve overseas subsidiaries had record years. Together with the contribution of our 35 international distributors, 60% of global revenue was generated outside of the United Kingdom - the highest level ever. Our Malaysian subsidiary started trading in July and we will commence sales in India this year. We have made our first submission for regulatory approval to Health Canada, and we are progressing well with our FDA submission. International expansion will continue to be a key growth driver for the Group".
Financial Highlights
• Turnover up 21% to £31.7m (2019: £26.2m)
• Overseas sales up 32% to £19m (2019: £14.4m), representing 60% of total sales (2019: 55%)
• Gross margin increased to 80% from 79% in 2019
• Pre-tax profit before share-based payments up 27% to £7.1m (2019: £5.6m). Unadjusted £6.6m (2019: £4.7m)
• Pre-tax margin before share-based payments increased to 22% (2019: 21%). Unadjusted 21% (2019: 18%)
• EPS before share-based payments up 11% to 12.35p (2019: 11.08p). Unadjusted up 25% to 11.38p (2019: 9.14p)
• Dividend per share for the full year increased by 12% to 6.18p (2019: 5.54p)
• Strong operating cashflow of £7m (2019: £5.5m)
• Net cash of £6.2m (2019: £4.2m)