Member Info for Adastra

From the sidelines it looks like Dowgate is loading up from Dan Holidays sales as he readjust his p/f (looking at his buying into CapXX - good luck with that one!!!...sales/debt)

This will bounce when he's hit his target level imo as Dowgate and Evans plus strong BoD holding sits happily.

Outlook on all 3 businesses here looks excellent awaiting further RNS newsflow. Regular positive RNS flow here is key.

Agree. There is at least one buyer picking up packages under 3p as the seller drips them on to the market. This could well be a prelude to an outright bid for the company or sustained accumulation by someone/fund who sees the same value being sewn together here. One way or another this should se a decent gap jump when the seller reaches their desired exposure level. Looks solid now for a rerate in September into Autumn.

Once the persistent seller is out this will rebalance higher. Looks like a p/f balancing exercise by a fund manager. With current contracts alone this is worth 6p a share. Having signed up £1m of new contracts in the last month it's shareprice should be motoring. Next few RNS should provide the kick as the seller exits at desired holding level.

Happy with that....didn't expect to pick up more at this price. Next few RNS should properly ignite this gem.

The huge upside here is in the interims:

PFP has the capability to quickly and cost effectively ramp up its capacity to meet this expected demand.

Definite multi bag possibility. This £10m MCap has just secured almost £1m contracts....in past 2 weeks! Wakey wakes investors. This company is booming on all fronts.

;)

Something's definitely on the cards here....

LOOK at the company, look at it's components, look at it's credentials and look at the inroads it is making into sustainability and safety. This is the kind of British entrepreneurial business I want to herald to my children and grandchildren. A company that is making positive moves on a better future. It has the support and backing of visionaries like Dyson Farming, University research projects and Fire Protection officers and architects. It manufactures onshore here in the UK and flies the flag whilst annually increasing revenue and profits. The shareprice is being traded around with a total disconnect from the fundamentals here. Management are seasoned, competent and trailblazers with plenty of shares reflecting their confidence here. Regardless of all the groundless negativity being posted, this is a little gem of a share at a basket-case price. Yes, I'm loading up as it ticks my morality boxes and sits in my comfort zone. The huge swings will subside as common sense prevails. Cheap as chips.

Wonder if Deacon and Cooley went after Dowgates 10%? or Guinness Assets 7% as MCap is derisory given outlook. Action stations if that reversed Dowgates decision to rebalance. Clearly, clearly too cheap here.

I'm wondering if Dowgate were readjusting their exposure down and have now re-evaluated on the back of the last RNS, this week's company meet investment managers or perhaps a sniff of predatory intent. The 3 arenas in which LST has a footing are all environmentally positive AND highly absorbable by a bigger operator. The current NCap of £9m is a joke given order pipeline. Something MUST be afoot here.

What a bizarre 7 days. Solid interims indicating traction on all 3 legs of the business, Dowgate drops below 10% thus forcing down price......now their holding has jumped to nearly 12%. Could be an interesting 48hrs here.

Predator could throw in an £18m bid here and pick up 3 good recession-proof businesses with healthy order books. Mad!

This must be Dowgate reducing their holding down as a rebalancing of funds. Given the good chance that the business (as opposed to the shareprice at present) is at a positive inflection point I'm just surprised they didn't tout their 10% to a predator. Lots of short-sighted non-joined-up thinking going on here. This MCap for sound business with full good order book is absurd.

I said it was volatile.....works both ways and I'm a buyer. I'm loaded up and now happy to sit tight till it reverses and climbs. It's a good little share. Done my research and can wait till the fickle market rates it accordingly. My exit strategy is at least 4x current MCap.....and I certainly see that before end next year period.

First of many announcements as I expected.

Increased margins and capex light leverage are key drivers here. This is a boom stock in the making with very focussed and seasoned management with lots of skin in their game. Totally aligned with us shareholders. More please for PFP and AgTech.

I disagree with the comment on results as I've outlined below. The 2 drivers here are margins and leverage. It's NOT a share for widows and orphans as it's small and volatile but for visible potential in its fields of operation it's got growth written all over it. I knew I'd be cited for ramping, hence my opener, but leverage here in the Fire Protection arena could transform the outlook. Add that to the fact that AgTech is now in association with US giant owner of MiracleGro and you start to see the evolution. I've conservatively based my research predictions and hope that these are clearly put across in next week's Company/Analyst meetings. If you want a comfy existence with no exposure to risk or decent multiples of outlay then get out the cotton wool.

The growth in margins and quoted sales pipelines signals huge value here as PFP and AgTech push forward. Management or PE should throw a £20-25m offer in here and run with it imo. Super little UK companies are just not being recognised by investors like the US. This has hockeystick growth written all over it for the next 12 -18 months.

Much as I do the research for you and then get accused of ramping here is my research take:

Gross margin jumped from 26.6% → 36.3%, a 36.5% improvement. That’s significant — it means they’re making more profit on each £ of sales even though total revenue was essentially flat (£5.1m vs £5.2m).

The shift away from low-margin CEM (Contract Electronics Manufacturing) toward higher-margin Passive Fire Protection (PFP) and AgTech (AGT) is already showing up in the numbers.

PFP’s leap from 5.7% to 18.8% is notable — especially since PFP products like Injectaclad now have proof of a 50-year lifespan (triple industry standard). That’s a big marketing point and could drive sticky, repeat contracts in fire safety retrofits.

AGT’s global reach is expanding with first European orders and a patent win — patents can be valuable if the tech is genuinely differentiated.

Quoted sales pipeline up from £51m to £58m - not secured sales but very encouraging.

A modest 10% pipeline conversion could take them from break-even to £3.8–£4.6m operating profit if margins hold. At 20–30% conversion, they’d be firmly in strong-profit territory — but that assumes no big increase in costs. The combination of margin improvement + pipeline execution has a powerful leverage effect on profits.

10% pipeline conversion + holding margins could imply 15–33p/share depending on P/E multiple.

At 20–30% conversion, the valuation could rise significantly — but that’s a big ask for a £12m MCap.

The upside here is mostly driven by operational leverage: once fixed costs are covered, extra sales drop heavily to the bottom line.

Give it a week and watch the reversal.

The Company will be in London for meetings/calls during the week commencing Monday 18 August. If you would like to meet or have a call with the management team, please contact your usual sales contact at Shore Capital or Maisie Rose Brown

The PFP division has continued to grow its quoted sales pipeline both during and post-Period end, which is currently worth approximately £24m, a significant increase from the approximate £7m value at the same time in 2024.

There are recent signs of projects being given the green light and the Board expects the backlog to be unblocked over the short to medium-term, with the Group well-placed to convert its very healthy PFP quoted sales pipeline over the next 18 months and beyond. The Board's confidence is further underpinned by a positive industry backdrop with the Government's plans to accelerate remediation of social housing.

PFP has the capability to quickly and cost effectively ramp up its capacity to meet demand.