Member Info for flundra

200,000+ shares reported bought today, which is about 0.5% of the company. Oryx buying again perhaps? If so, they must be approaching 15% now.

http://www.proactiveinvestors.co.uk/companies/news/108277/update-hayward-tyler-posts-best-set-of-results-as-a-public-company-108277.html

Yes that cluster round lunchtime looks like an ii. All buys this pm by the looks of it. Ask looking more sensible now.

V good results. The only disappointment for me was the gross profit margins of the aftermarket business (down to 47% from 50% in 2014). I know this was expected and can be explained, but with increasing volumes of original equipment being delivered to the market, and given the importance and lucrative nature of AM contracts, I feel this figure needs to improve. Shareminator - you highlight the interesting comment from EL-B about the future, suggesting HAYT are on the acquisition trail. It's been more about strategic partnership/collaboration recently. Could be exciting. Also interesting to see Finncap are staying with a price target of 113p. And no mention Oryx. I'm still wondering what they're up to.

Does anyone have any ideas as to what Oryx's agenda for HAYT might be? They might take an activist approach where are factors constraining performance, they say. Have they intervened in other companies, and in what way? I did an internet search on this a couple of months ago but didn't find anything. The BoD seem to be doing just fine to me. One fear is that Oryx might push for a dividend increase before it's wise. Anyone worried, or excited by Oryx's involvement?

Oryx clearly have plans, but I wonder what. Let's hope it's constructive. They are now by far the largest shareholder and have come from nowhere to 11.54% in just a couple of months. And it's perhaps odd that the SP hasn't budged in a month despite Oryx's stakebuilding and some whopping deals (particularly on 9 June). Something's going to happen soon...

I've pretty much given up on this "investment", but am nonetheless interested in the letter bigboffer. I couldn't see anything on the website just now, but wonder what the letter says about "where it's heading". Is anything mentioned about re-listing? I hold my TXO shares on the HL platform, and got a message from HL today but that was only about bidding for the fractional shares from the subscription - I presume these are the shares from people who got wiped out in the subscription consolidation (lucky them ironically). I will absolutely not be bidding, but would like to know more about what's going on.

Today's RNS discloses that Oryx's interest in HAYT is now over 9%. Oryx International Growth Fund Ltd is a Guernsey-based closed-ended investment company. Listed on LSE. £76m market cap. From their website: "The investment objective of Oryx is to seek consistently high absolute returns while maintaining a low level of risk, principally through investment in medium and small sized quoted and unquoted companies in the United Kingdom and United States. Target companies typically have strong business models but individually may have factors constraining their performance, which may be addressed through Oryx taking an activist approach as a shareholder." This may explain the chunky on market buys over the last few days. Are Oryx stake-building perhaps, and to what end? I also wonder if they are going to take an activist approach, and if so, how. And would HAYT want this? The BoD seem to be doing a good job.

Interesting interview with Finncap this morning. They emphasise the importance of the FMC collaboration (although they feel the benefits of this will likely only be seen down the line), the importance of the India and China markets, and the shares being good value atm partly because of the p/e ratio lag (citing the larger Weir and Rotork on nearly double HAYT's).

http://www.proactiveinvestors.co.uk/companies/news/80140/big-picture-hayward-tyler-gets-its-motor-running-80140.html

http://www.proactiveinvestors.co.uk/companies/news/80320/hayward-tyler-wins-after-market-order-in-india-80320.html The RNS does say this contract’s new, but is it in fact the same order as reported in the 30 March RNS? That said “In India, an aftermarket order due for delivery before the end of December and valued at over £0.5 million, further supports the Company's conventional power generation installed base in Chhattisgarh state.” Whether it’s new or not, this was perhaps a contract not to lose, but a win is a win. Looking back at this year’s RNSs, HAYT’s is a compelling and dynamic story. Funding for expansion now seems secure and well managed and supported, with the secured loan note programme (£3m), Regional Growth Fund award (£3.5m), and commitment from FMC (initially $2m). Management have committed to keeping net debt to EBITDA within a 2:1 ratio, which strikes the balance between ambitious but prudent growth. Reported contract wins this year are 9 pumps for Astute and Vanguard class RN subs (>£1m), Shanghai Boiler Works pumps (>£0.6m), Eureka oil/gas ($1.25m) and India thermal power after-market contract (>£0.5m, maybe x2). There are also more general statements indicating advancements and a pro-active approach across the market sectors and locations. Note the geographical and sector diversity – that usually helps spreads risk. And the Duke of Kent visited Luton too!! It’s still only a £35m market cap company, but has recently started paying a dividend, so growth and income potential is on offer. I suspect we’ll see the pundits tip this share again shortly. I see from Rivaldo’s post today that Finncap are sticking with a target of 113p. It’s certainly an attractive company from an armchair investor’s perspective.

Presumably an improving oil price will lead to more expensive o and g projects (like existing and new offshore) becoming more attractive to develop, leading to greater demand for submersible pumps, and at better profit and margin levels for the market leaders, thereby benefitting FMC/HAYT. HAYT v well placed for this now following today's news.

Yes all looking very promising. Time will tell, but this could be a very good time to have entered the production alliance agreement with FMC. Costs of extracting oil and gas offshore have fallen with the oil price, which hasn’t helped the submersible pumps side of HAYT’s business, but there are signs now the oil price is improving or at least stabilising. That may mean HAYT’s profits and margins in this sector may well start to improve now (and at a time debt is falling and margins are generally improving for the company too). And of course it doesn’t get better than a deal with “the global market leader” in subsea systems, with a hefty “initial” $2m investment in Luton. Assuming the terms of the agreement are otherwise reasonable, this lends ever more credibility to HAYT as a company and investment proposition, and indicates a genuine long term strategic partnership approach by FMC. I’m sure we’ll see HAYT re-rate soon. Finncap the house broker have stuck with a target of 113p for a while now, but I suspect that’ll rise. The forward p/e ratio remains well below sector peers, with less and less reason.

Interesting to see a mixed bag of views. On balance I think it's good news today. At least something's now going to happen. I'm particularly pleased to see Noble (as a US company) taking a material interest in Argos' NFB acreage. That should reduce some of the geopolitical risk in all the FI oil shares. It would be very silly for the Argentinians to now start threatening US company directors, like they've done with the British ones. Whilst I wouldn't put it past them, if I were them I'd stop cage rattling now. They've got a lot to lose if their relationship with USA sours. Being broke, and pariahs in both American continents would not be an enviable position.