Surface Transforms Share Price (SCE)

Not going to comment on the management as I've not read enough yet, but seems like pent up orders just need to be delivered - perhaps that capex facility from Liverpool City Region will unlock it? They just got £13m in December so there's no way that's been invested and delivering results yet surely? I'm concerned about the working capital position, but the last couple of statements suggested the cash burn had been arrested, and that once the last furnace is brought online (expected later this year) they will be at £50m T/O - a huge increase from 2023's £8.3m and surely if they even get half way there you'd have thought that would have them cash generative? What's the break even sales level needed - I can't see reference to it but I'd have thought for a business that's lost money every year they'd be acutely aware of what that level was?

Well something has to change because the level of management incompetence is truly shocking given this business has been listed for ages, it has on face of it is a heavyweight set of NEDs (ex Bundred), and we were assured countless times that all was on track even as recently as this month.

Its seems to me that they have simply tried to ramp up capacity too quickly, rather than doing gradually with step changes in revenues. The assumption that it would all be completed without a hitch was naive at best, and the lack of any kind of margin for financial pressures was poor planning and strategy. Not really sure what they can do from here other than raise the monies as at ridiculously low share price and push ahead. In which case changes at the top would just be disruptive for the time being. IMO

Kevin Johnson, CEO said: "We are providing this range of outcomes for the year, in response to shareholder request for "worst case scenarios"

says it all Fevertreeman

No money unless Johnson puts £50K in minimum

Shares also dumped as a raspberry,I suspect, to awarding Options in January ....soon made sure that price wont show up for a while !!!

( Not invested )

Not clear that having shattered investor confidence that Johnson & Maddocks can rely on investor support. The utter chaos of the last few months is directly due to dreadful, dreadful management. That is what needs to change, and fast! Why would anyone in their right mind give cash to Johnson who is clearly not up to the role? And therin lies the issue. A board reshuffle is desperately needed; Johnson needs to step down as CEO and be given another role; the CFO and COO need a proper plc experienced leader to restore their confidence and that of investors. The quickest and best solution has to be to sound out appointing a credible plc executive chair, rather than replace both Bundred and Johnson. The ship needs steadying and quickly.