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I can't find any information about this reported rejection, and the link in agexperts note doesn't work. Even the Lord God Google can find no other reference to EPO rejecting a patent claim by PIM. Important development if true. Can anyone else find anything to corroborate the story?
Plant Impact announces that on 11 January 2013 it received notice that RisingStars Growth Fund LLP is interested in a total of 5,473,131 ordinary shares in the capital of the Company representing 8.93% of the total voting rights in the issued share capital of the Company.
Let's not get ahead of ourselves. The announcement says simply that PIM had received notice that he "is interested in" the shares, not that he had bought them. If he had bought them, they would have issued the usual notice of major interest in shares - TR 1. I emailed PIM for more information about this but have not had a reply.
Plant Impact plc ("Plant Impact" or the "Company") Notice of Interest Plant Impact announces that on 4 September 2012 it received notice that Mr Hubert Stuart Bottomley is interested in a total of 1,703,000 ordinary shares in the capital of the Company representing 3.38% of the total voting rights in the issued share capital of the Company. These shares are held as to 1,530,000 in Mr Bottomley's SIPP, 28,000 in his own name and 145,000 by his wife, Hannah Bottomley.
Yes, indeed. Rather like waiting for a bus. Clearly, if you bought at 10.5 there's a lot of misreporting of transactions; share trade reports unreliable. Regardless, let\s hope we've reached bottom and will see some recovery soon
Is anyone here old enough to remember the last time anyone bought any of this stock? Am starting to get really grumpy about this company.
do you have a date for the release of year end figures?
LKI haven't said when they are to deliver the contracted rapeseed. As I understand it, they have 4 contracts - 2 for 5k tonnes each and 2 for 10k tonnes each. So there may be more than one delivery date. Regardless, as you say, rapeseed prices have fallen so they could buy the shortfall when the price is below the $575 ex works contracted price and hold it until it is due for delivery.
Good summary. I agree with you but the sp is where it is. It doesn't make sense to me that the market reacted so badly. The only thing I can think of is that the market expected a rapeseed harvest of about 43,000 tonnes and it was only 26,000 tonnes. That shortfall of 16,000 tonnes was worth about $8million in revenue, and then they need to pay for some extra to make up the contracted 30,000 tonnes forward sold. All together that means they will have about $10 million less cash than the market expected. That's a setback, but the positive direction of change in the company remains. Provided they don't face any cash flow constraints, I remain optimistic that the company will soon be profitable and the sp will rise strongly.
It's interesting to note that they announced that they were on course for a pretax profit of $1.11 million this year. I expect that the problem with the rapeseed harvest will cost them about $1.5 million (shortage of 2250 tonnes @ $650 per tonne). That leaves a loss of about $400,000. With that in prospect, a sp of under 4p seems far too low compared with this time last year when they were heading for a loss of over $4.3 million and had a sp of over 8p.
Very disappointing development, but it does look like an over-reaction. Remember how much improvement there has been over the past year: production costs down, acreage expanded, other crops doing well, better prices, and removal of export restrictions. Profitability may be missed, but losses will be much less than they have been. IMHO there is no reason why the sp should not recover toward 10p when full year results are released.
CEO replaced with immediate effect by fellow from Arysta. Anyone know what brought that about? Doesn't sound like a freindly parting. 9 August 2011 Plant Impact plc. ("Plant Impact" or the "Company") Plant Impact names John Brubaker as Chief Executive Officer Plant Impact [London AIM: PIM] announces that John Brubaker is to be appointed Chief Executive Officer with effect from 1 September 2011. Brubaker succeeds Peter Blezard, who has resigned his position with immediate effect. David Jones, Chairman of Plant Impact, commented, "On behalf of the Board of Directors, I am delighted that the Company has secured the commitment of such a high calibre individual to lead it as the CEO. Plant Impact is expanding its customer base internationally while continuing to invest in innovative new technologies, and further developing its relationships with strategic partners. For this new and exciting phase of the Company's growth, the Board is confident that John will bring the right blend of skill and experience to Plant Impact." Until recently, Brubaker served as the global head of business development for Tokyo-based Arysta LifeScience Corporation ("Arysta"), a 9.1% shareholder in Plant Impact and a key commercial partner for the future . Having worked at Arysta since 2005, he was responsible for all aspects of global acquisitions, divestures and various other strategic initiatives. He was a member of Arysta's global executive staff and operating committee. Prior to Arysta, Brubaker was the director, business development at R4 Global Solutions, a San Francisco based technology start-up since acquired by Verisign. He has also worked as an investment banker and as a product and accounts manager at an early-stage software and telecoms company. Brubaker holds a bachelor's degree from Yale University and master's degree from the Johns Hopkins School of Advanced International Studies. "Plant Impact has developed a platform of high-potential crop enhancement and anti-stress technologies, and I believe the Company is well-positioned to emerge as a leader in the sector," explained Brubaker. "I am eager to start work with the Company's commercial team, its scientists and its customers to achieve Plant Impact's aspirations for the immediate future and over the coming years." David Jones, Chairman of Plant Impact, added:"The Plant Impact Board pays tribute to the outgoing CEO Peter Blezard. We recognise and appreciate the energy and tenacity he has applied to build the business to its current level. Since the founding of the Company, Peter has overseen the launch of the Plant Impact's product lines, the listing of the Company's shares on the AIM market in 2006 and the recent strategic investment by Arysta LifeScience. We wish him well in his future endeavours."
A little weekend reading: http://www.edisoninvestmentresearch.co.uk/research/company/landkom-international There's a lot of upside in this puppy...
Southern harvest completed with dramatically improved yields Landkom International PLC (AIM: LKI, "Landkom" or "the Group"), the Ukrainian producer of agricultural commodities, has completed the harvest in the Group's southern operations with dramatically improved yields. The winter barley yield for the south was up 110% to 4.03 tonnes per hectare (ha) (2010: 1.9 tonnes per ha), with the winter wheat yield up 50% to 3.23 tonnes per ha (2010: 2.2 tonnes per ha). The Group's southern operations harvested 4,382 ha of winter wheat (2010: 1,654 ha) and 535 ha of winter barley (2010: 588 ha). The substantially improved yields were obtained due to more efficient harvesting equipment completing the harvest within the optimum time period. The Group also has 1,648 ha of mixed crops, including sunflower and soya, in its southern operations which are scheduled to be harvested over the next few weeks. An additional crop of sunflower is planned on some irrigated fields. The harvest in the west, Landkom's largest region, and the central region is now well underway. The winter rapeseed and wheat harvests started on 8 July and are progressing well. Around 65% of winter rapeseed and 15% of winter wheat are already harvested. The Group has finished the harvest of its first crop of winter barley in the west, harvesting 1,352 ha with a yield of 3.93 tonnes per ha. Weather conditions in the West are currently good, following some poor weather last week, which caused a limited amount of damage to approximately 7% of the rapeseed crop. Vitaliy Skotsyk, Landkom CEO, commented: "Our main harvest in the south has been completed on schedule, with a notable improvement in yields. This has been achieved with our newly purchased combine harvesters delivering a high performance, supported by contracted harvesters. "We are on schedule and pleased with the progress so far in our west and central operations."
As of July 19, the yield of grain crops in Ukraine makes up about 15 million tons, Agrarian Policy and Food Minister Mykola Prysiazhniuk said during a working visit to Odesa region (Ukraine's south) on Tuesday. "Weather conditions made a number of corrections to the harvesting campaign. Nevertheless, the yield is 17% up against the previous year," the minister said. Prysiazhniuk said that the government allocated UAH 5 billion (USD 1/UAH 7.97) for the Agrarian Fund. Those measures will allow minimizing state influence on the price policy for grain and trade in grain crops. Earlier, the minister said that a forecast of the regions for production of grain crops and leguminous cultures this year remains at 45 million tons, which is 5.8 million up against the previous year.
Thanks, I thought they were due about now. They announced 2 months ago that they would have a larger loss than anticipated for the year to end March due to not getting the 500k Bugoil payment. That should already have been factored into the sp. Are you suggesting additional losses?
Any ideas why the sp has been falling? I think I read somewhere recently that they have results due shortly.
You are right to be cautious, but the political difficulties of doing business in the Ukraine are nothing new, and progress does seem to have been made with both the agronomic and financial aspects of the business. Again from Edison: "Landkom will remain sensitive to factors outside its control and the recent weakness and the recent weakness in the share price probably reflects this. However, confidence in the earnings will build in 2011, as forward sales are locked-in at the current high levels and positive news emerges of both the impact of the winter on crops in the ground and of the spring planting programme. These events will ensure the move into profit and point to the potential. A P/E valuation of only 6x, for 2011, will look excessively low.."
Edison Research have published their latest view on Landkom. They say they "have now significantly improved our 2011 outlook. We expect the cost control to be sustained and that yields will recover. These combine, with the substantial uplift in potential crop prices and the increase in planted land, to result in Landkom moving into profitability at the pre-tax level for the first time." http://www.edisoninvestmentresearch.co.uk/research/company/landkom-international
5000 tonnes at £600 per tonne gives £3 million. Appears to leave a good profit margin, if only on a small volume. A bit of good news, for a change, but I suspect that most of the crop was not sold at such good margin. Next weeks results for 2010 should make for interesting reading.