RE: From the company3 Mar 2022 15:11
We are excited about these two developments, but inevitably there is a lead time for these initiatives to gain traction in terms of revenue generation, and in the interim period our lack of progress in the surface production wellhead sector has unfortunately severely impacted our share price, especially as unlike the larger service companies we do not have a spread of activities to fall back on.
Ironically our IP suite has never been stronger or indeed more relevant in relation to emissions/leak reductions, especially in relation to gas/methane where the Green lobby recognises the environmental damage that results from emissions which in turn undermine ESG goals and Net Zero aspirations. We still believe that our leak proof wellheads and associated applications have an important role to play, and we must assume that we are not alone otherwise Cameron would not have entered into a licencing agreement with Plexus to gain access to our POS-GRIP technology.
I hope this response goes some way to answering your questions, and please be assured that we totally respect all shareholders whether small or large. Although it does not help you or them, I am sure you are aware that our founder investors still own very large holdings in Plexus and they have been impacted more than anyone, and of course have the most incentive to build back share value for the benefit of all shareholders.