Member Info for Hedgehog100

Worrying and sad times globally, with the Russian invasion of Ukraine four days ago.

The cost in human life and suffering, and the destruction, puts other issues into perspective.

That said, the financial sanctions against Russia could potentially impact upon all companies doing significant business in that country.

OTAQ has sold some Sealfence systems in Russia, however this is a small minority of its business, so should not be a major issue.

From the Hertsford Capital plc (then to be renamed OTAQ plc) prospectus (dated 24 March 2020):

"Aquaculture

The first aquaculture product which the Existing OTAQ Group has marketed is Sealfence which was launched in 2013.

Sealfence is an ultrasonic deterrent system designed to deter seals and sea lions from marine fish farming sites. Since the first sale of a Sealfence system in 2013, the number of systems in operation has grown rapidly and at 31 December 2019, the Existing OTAQ Group had a base of 1,164 systems on long-term rental contracts (12 at 31 March 2015) and a further 72 systems have been sold in Russia and Finland. ..."

https://www.otaq-ir.com/investors/corporate-documents

https://www.otaq-ir.com/docs/librariesprovider59/default-document-library/final-hertsford-prospectus-24-march-2020.pdf

"Fundsmith is warned after being stripped of ethical rating

David Brenchley Money Reporter

Saturday February 19 2022, 12.01am, The Times

Terry Smith’s fund has been stripped of an influential ethical rating amid accusations it had overstated its credentials.

The £26 billion Fundsmith Equity fund had been classified as having met European Union rules on environmental, social and governance (ESG) standards.

But this week the fund rating agency Morningstar stripped Fundsmith — as well as 1,600 other funds, valued in total at about £885 billion — of their ethical status and warned them that they were misleading investors. ..."

https://www.thetimes.co.uk/article/fundsmith-is-warned-after-being-stripped-of-ethical-rating-dwdwskk7q

Interesting news that 1,600 funds have just been stripped of their ESG rating.

Perhaps some (& hopefully a lot!) of ESG-seeking investors will switch to PODP instead.

And it certainly sounds like PODP are very much on the ball in this respect, with today's ESG RNS from the company.

21st Feb 2022 9:00 am RNS Establishment of new ESG Committee

The Board of Pod Point Group Holdings plc (the "Board") is pleased to announce that it has established a new Environmental, Social and Governance ("ESG") Committee (the "Committee").

Although Pod Point's entire mission is focused on the E and S of ESG and as a result of its IPO it is well-placed to deliver that mission, the Board recognises that there's significant work required in order to make sure the appropriate governance structure in place. Consequently, the aim of the ESG Committee is to provide oversight, on behalf of the Board, in relation to the Group's ESG strategy and activities. This will include, but is not limited to, ensuring the Company maintains appropriate policies and processes to effectively support its ESG framework, agreeing the ESG targets the Company should set, and overseeing the Company's ESG reporting and disclosures.

The Committee is chaired by Dr Margaret Amos (Independent Non-executive Director) and Karen Myers Independent Non-executive Director and Erik Fairbairn (Chief Executive Officer) will be members. The Committee will be supported by an ESG Working Group consisting of Margaret Amos, Erik Fairbairn and members of the executive team including among others General Counsel, Head of Policy & Public Affairs, Company Secretary and, once appointed, the new VP of Human Resources.

Gareth Davis, Chair, commented: "As we enter our first full year as a listed company, one of the Board's top priorities has been to establish appropriate and effective structures to govern how we manage ESG and our climate-related risk. Establishing the ESG Committee is an important step towards achieving this objective."

https://www.lse.co.uk/rns/PODP/establishment-of-new-esg-committee-k4hstyoh7c16myr.html

21st Feb 2022 1:17 pm RNS Confirmation of board appointment

Oxford, UK. GENinCode Plc (AIM: GENI), the predictive genetics company focused on the prevention of cardiovascular disease, announces that, following the announcement on 21 January 2022, Professor Huon Gray CBE has been appointed to the Board as an independent non-executive director with immediate effect.

Regulatory disclosures

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Huon Hamilton Gray, aged 67:

Current Directorships

Previous Directorships

None

Wessex Cardiology LLP



As of the date of this announcement, Professor Gray holds 200,000 ordinary shares under option, representing approximately 0.19% of the issued ordinary share capital of the Company. Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.



For more information visit www.genincode.com

https://www.lse.co.uk/rns/GENI/confirmation-of-board-appointment-i9ywkmy5ydisvdf.html

"Very strong performance with 86% year on year revenue growth to £61.4m"

Pod Point revenue growth -
2018: £11.866M.
2019: £17.295M. = 45.75% growth.
2020: £33.082M. = 91.28% growth.
2021: £61.415M. = 85.64% growth.

= Average annual revenue growth rate over the last two years of 88.46%.

A nice fat increase ... or should I say a 'two fat ladies' increase!

And projecting revenue growth forward at 88% p.a. would give -

2022: £115.46M.
2023: £217.065M.
2024: £408.08M.
2025: £767.195M.

I.e. taking off like a jumbo jet ...

PODP's cash outflow from operating activities more than halved to just £2,216K., which relatively speaking looks very small for a company growing so rapidly.

18th Feb 2022 7:00 am RNS Preliminary Unaudited Results for FY2021

" ... One off large corporate transaction and restructuring costs, relating primarily to the Listing were £5,739k which compared to £8,042k for the full year 2020 (2020 11 months: £7,916k) when the business incurred costs primarily relating to the purchase of the Pod Point business.

Net finance costs, primarily related to borrowing from Pod Point's pre-listing shareholders increased to £1,290k in 2021 compared to £638k in 2020 (2020 11 months: £608k), as a result of additional funds being loaned to the business to support its growth. All shareholder loans were repaid upon listing in November 2021 and finance costs in 2022 are expected to be limited.

Most key balance sheet accounts increased year on year due to the increase in the size of the business, this included trade and other receivables, inventory and trade and other payables.

Closing cash and short term investments were £96,112k (2020: £2,943k). At 31 December 2021 £50,000k of cash had been placed on a six month bank deposit and so has been classified as a short term investment. Closing net assets were £199,835k (2020: £98,773k)

Cash outflow from operating activities decreased by £3,661k to £2,216k in the full year 2021 from £5,877 in the full year 2020 (2020 11 months: £6,509k). This was primarily due to a smaller operating loss, once the non-cash impact of share based payments had been taken into account ..."

https://www.lse.co.uk/rns/PODP/preliminary-unaudited-results-for-fy2021-y5a1nyadqt2wwnt.html

18th Feb 2022 7:00 am RNS Preliminary Unaudited Results for FY2021

Preliminary unaudited results for the period ended 31 December 2021

"Strong financial and strategic performance with excellent momentum"

Pod Point Group Holdings plc (the "Company") and its subsidiaries (the "Group"), one of the UK's market leading providers of Electric Vehicle ("EV") charging solutions is pleased to announce its preliminary unaudited results for the year ended 31 December 2021. ...

Group Highlights

· Very strong performance with 86% year on year revenue growth to £61.4m

· 99% year on year growth in gross profit with margin increasing to 27% from 25%

· Strong expansion of the customer base across both Home and Commercial segments

· Increase in headcount from 247 to 447 including 73 inhouse installers supported by network of over 221 third party installers

· Adjusted EBITDA of £58k was a result of increase in revenues and gross margin with the loss for the full year 2021 of £14m including one-off costs of IPO and share-based payment costs

Strategic and Operational Highlights

· Raised £120m in a successful listing on the London Stock Exchange and received the Green Economy Mark at Admission, demonstrating the key role the company is playing in the transition to a sustainable economy

· 12.2m charging sessions delivered, enabling 955m km of low carbon travel and helping to avoid 127,267 tonnes of CO2e

· Over 66,000 charge points installed and shipped (2020 full year: 35,763) while maintaining outstanding levels of customer service with a 4.3 out of 5 rating on Trust Pilot and a 4.65 out of 5 rating on review.io with a 91% recommendation rate

· Market share in home charging increased to 18% (2020: 16%) driven by new commercial deals with car manufacturers and operators of business car fleets

· Total number of units installed and able to communicate at the year end increased to 137,420 (2020: 77,498) providing an excellent base to expand recurring revenue products

· Key OEM contracts won or renewed include Fiat, Jaguar Land Rover, Mercedes and Nissan

· Pod Point now has over 130 active fleet business accounts with businesses including Coca-Cola, DHL and Royal Mail

· In the Commerical segment key customer contracts won during the year included CBRE, Hermes and Serco, and we renewed our contract with LIDL

· Owned asset sites increased to 453 with 984 charging points including 73 DC rapid units ...

https://www.lse.co.uk/rns/PODP/preliminary-unaudited-results-for-fy2021-y5a1nyadqt2wwnt.html

A new IPO today - Strip Tinning (STG) - highlights just how cheap NWT is.

At 182.5p, STG has a market cap. £27.6M.
Its 2020 revenues were £8.83M., down from £9.92M. in 2019, a price-to-sales sales ratio of over three.

In comparison, NWT has a current market capitalisation of £2.86 million at 30.5p.
Its first half revenue rose by 23% to £9.7m (H1 FY21: £7.9m), giving it an annualised price-to-sales sales ratio of under 0.15: i.e. under a twentieth of STG's.

Thanks Boogester, and to MrNumpty on ADVFN who also flagged this up:

"Electric car makers demand regulator boosts charger coverage

Manufacturers fear a lack of charging points will put buyers off

By Howard Mustoe
16 February 2022 • 6:00am

Car makers and dealers have demanded an independent regulator to ensure patchy coverage of charging stations does not put the brakes on sales of electric models.

Motorists are snapping up electric cars, taking advantage of cheap charging and tax incentives as petrol prices soar, but the rollout of public charging points is not keeping pace, according to the Society of Motor Manufacturers and Traders (SMMT).

The trade body wants a new regulator to oversee fees for charging and boost investment in regions such as the North of England, where the rollout has been slipping.

The number of electric cars on UK roads has almost quadrupled since 2019. However, the number of charge points grew by only 70pc over the same period, the SMMT said. ...

A government spokesman said: "We want as many people across the country to have the opportunity to make the switch to electric vehicles. This Government is providing over £1.3bn to support the continued roll-out of chargepoints at homes, businesses and on residential streets across the UK, levelling up our chargepoint provision while supporting the deployment of rapid chargepoints on motorways and major A roads in England.""

https://www.telegraph.co.uk/business/2022/02/16/electric-car-makers-demand-regulator-boost-charger-coverage/

PeersCarter,

Even if what you say were true, everything has a price, and NWT is now valued at below £3M.: current market capitalisation £2.86 million at 30.5p.

That's not bad value for a tech company with first half revenue up by 23% to £9.7m (H1 FY21: £7.9m), that should move back into profit as we emerge from the pandemic.

Also note that Maurice and Marie-Claire Dwek between them own under 21% of NWT shares, so could be outvoted by nearly 4 to one.

Perhaps other major shareholders are satisfied that the company is doing the right things: investing in product development, for the future benefit of the company.

Can anyone suggest a better strategy?

"Maurice Dwek – 20.22%
Marie-Claire Dwek – 0.53%"
https://newmarksecurity.com/investor-relations/shareholder-information/

6th Jan 2022 7:00 am RNS Trading Update and Notice of Results
"... Pod Point will announce Final Results for the year ended 31 December 2021 on 18 February 2022 and there will be a presentation for analysts at 09:30 on the day. Please contact podpoint@tulchangroup.com if you would like to register to receive details. ..."
https://www.lse.co.uk/rns/PODP/trading-update-and-notice-of-results-a3hmitlvlxsopip.html

Well as 'spikings' go it would be relatively benign - just a few per cent - and probably very temporary.

And I'm hoping for a much bigger rise this Friday with the final results and analysts presentation, which could be prefect timing for some positive weekend press coverage.

And if markets continue to recover, there could be some sustained momentum upwards.

2020 revenue was £33.082M., but I would expect it to have reached £60M. last year, which will highlight the company's exponential growth.

And this year revenue could exceed £100M., and could be up about ten-fold in just a few years.

Pod Point revenue growth -

Year end 31 December
(£000)
2018 2019 2020
11,866 17,295 33,082

This sort of explosive growth is very rare, and investors will pay highly for it.

"Thanks to Waldron on LSE for flagging up this Mail on Sunday tip today."

Amendment: Waldron posted it on ADVFN, not here.

John,

I would agree that the Ukraine situation may well mean that the rise here tomorrow is less than otherwise.

But whatever happens there, I think that markets here are primed for a good period.

A lot of fear about a Ukraine-Russia war is already priced into the markets.

And I recall that with the Iraq invasion in 2003, markets bottomed when the war started, having fallen in the run-up to it, and then recovered during the invasion itself and afterwards.

Funnily enough, a year to the day ago exactly the same column tipped another green energy play, i.e. eEnergy (EAAS), at 14p:

"MIDAS SHARE TIPS: Need a lightbulb moment for your portfolio? Try eEnergy, the firm that's saving schools money
By JOANNE HART, FINANCIAL MAIL ON SUNDAY
PUBLISHED: 21:51, 13 February 2021 | UPDATED: 17:41, 15 February 2021
... Midas verdict: Companies, schools, hospitals and Government departments are increasingly keen to reduce their carbon emissions. eEnergy offers a simple way to get the job done and save money at the same time. At 14p, the shares are a buy.
Traded on: AIM Ticker: EAAS Contact: eenergyplc.com or 020 7078 9564"
https://www.thisismoney.co.uk/money/investing/article-9256855/MIDAS-SHARE-TIPS-eEnergy-saving-schools-money.html

The next trading day, i.e. Monday 15.2.22, EAAS closed at 18.9p, a rise of 35% from the tip price.

And within barely a month EAAS had nearly doubled from the tip price, closing at 27p on 22.3.22.

The Mail on Sunday has a readership of several million, so there's no better way of bringing an overlooked share onto many more radar screens:

"The Mail on Sunday is read by over six million a week."
https://en.wikipedia.org/wiki/The_Mail_on_Sunday

""MIDAS SHARE TIPS: Pod Point is motoring after installing more than 90,000 electric vehicle chargers across UK

By JOANNE HART, FINANCIAL MAIL ON SUNDAY

PUBLISHED: 21:50, 12 February 2022 | UPDATED: 09:55, 13 February 2022

... Results this week should show that Pod Point is motoring. Today, fewer than 1 per cent of the cars on UK roads are electric, but 25 per cent of all vehicles sold in December were electric so momentum is building fast.

The trend is expected only to accelerate over the next decade, on both ecological and financial grounds.

Even after April's price hike, electric cars will still be at least 60 per cent cheaper to run than the petrol-fuelled equivalent.

Pod Point has some clever technology too which means that chargers can deliver more power when demand for electricity is low and prices fall – in the middle of the night – and rein in when there are power surges or even when individual homes are using lots of energy.

Midas verdict: Like all young businesses, Pod Point is not without risk, but the company is in the right place at the right time. Fairbairn is highly ambitious and, at £2.03, the shares are worth a punt, especially for the environmentally conscious investor.

Traded on: Main market Ticker: PODP Contact: pod-point.com or Equiniti on 0371 384 2030"

https://www.thisismoney.co.uk/money/investing/article-9256855/MIDAS-SHARE-TIPS-eEnergy-saving-schools-money.html

Thanks to Waldron on LSE for flagging up this Mail on Sunday tip today.

It was about time that PODP was fully tipped somewhere!

"MIDAS SHARE TIPS: Pod Point is motoring after installing more than 90,000 electric vehicle chargers across UK

By JOANNE HART, FINANCIAL MAIL ON SUNDAY

PUBLISHED: 21:50, 12 February 2022 | UPDATED: 09:55, 13 February 2022

BP and Shell are both investing heavily in electric vehicle chargers, but Pod Point is ahead of them both – at least in the UK.

The company has installed more than 90,000 chargers across the UK, far outstripping the oil and gas majors.

Most Pod Point chargers are set up in drivers' homes, but the kit is being rapidly installed in other convenient spots, such as car parks, shopping malls, petrol station forecourts and workplaces.

Pod Point listed on the stock market in November at £2.25 and the shares have since fallen back to £2.03.

The current price offers investors an attractive entry point to a business that is on the right side of the Government's green agenda and is helping motorists to save money at the same time.

Pod Point was founded in 2009 by Erik Fairbairn, a mechanical engineer turned entrepreneur, with a mission to make it simple for motorists to switch from traditional cars to electric ones.

Many motorists are put off electric vehicles for fear of running out of power in the middle of nowhere. Fairbairn strives to counter this by installing charging points in places where they tend to spend time, such as where they live, work and shop.

Pod Point also installs, manages and maintains its chargers, to facilitate the experience of going electric.

The company works with car makers including Tesla, Audi, Peugeot, Vauxhall, VW and Nissan.

It supplies chargers to property developers such as Barratt, Bellway, Berkeley Group and British Land.

Supermarket chains Tesco and Lidl have signed up with Pod Point too, alongside car park operators, transport firms such as DPD and Hermes, and manufacturers, including Nestle and PepsiCo. ..."

https://www.thisismoney.co.uk/money/investing/article-9256855/MIDAS-SHARE-TIPS-eEnergy-saving-schools-money.html

11th Feb 2022 10:30 am RNS Proposed Placing and Subscription and Notice of GM
"Proposed placing and subscription to raise £1 million and Notice of General Meeting
Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based cybersecurity software, is pleased to announce that it has conditionally raised £1 million before expenses by way of:
· a placing of 10,592,618 new ordinary shares of 1p each in the capital of the Company (the "Placing Shares"), at a price of 6 pence per share (the "Issue Price") to raise £635,557 (before expenses) (the "Placing"); and
· an issue of 6,074,049 new ordinary shares of 1p each in the capital of the Company (the "Subscription Shares") to certain individuals including a number of Directors of the Company (including their families) and a member of senior management at the Issue Price to raise £364,443 (the "Subscription"). ..."
https://www.lse.co.uk/rns/OSI/proposed-placing-and-subscription-and-notice-of-gm-zl2shfqb90emxpx.html

I would agree that the huge 40% discount is very disappointing for shareholders - I certainly wasn't expecting that.

Especially as Allenby had STAR as a client, and STAR arranged a placing at a huge premium last October.

Poor stock market conditions are the key difference. Look at the ODX fundraising at 5p today, a 31% discount, and an even bigger discount to the recent ODX price, as the fundraising was flagged up by the company in advance.

As I expected though, the directors etc. are subscribing, and in size too: £364,443 is a real vote of confidence.

And a smaller fundraising is also consistent with the possibility of a takeover in the nearer term, and a wish to minimise unnecessary dilution at this low price.

10/02/2022 12:05 Business Wire CyberArk Announces Record Fourth Quarter and Full Year 2021 Results NASDAQ:CYBR CyberArk Software Ltd
https://uk.advfn.com/stock-market/NASDAQ/CYBR/share-news/CyberArk-Announces-Record-Fourth-Quarter-and-Full/87242960

NASDAQ-listed CyberArk has announced encouraging results and outlook today for the PAM (Privileged Access Management) software sub-sector, and is up about 7% in early trading.

In addition, as DogTyred has suggested, volumes aren't high, which supports the view that the fall lacks substance.

It's gone down on relatively low volume, so it won't take much to move it up strongly.

PODP final results etc. next week, with all the publicity that comes with them, will I believe provide a major boost.

And I also wouldn't be surprised to see major shareholders and directors buying more after the results end the current closed period.

PODP's boss Erik Fairbairn for example bought about £4M. of PODP shares in its November IPO, at 225p, so the current s.p. looks a bargain.

From 14th.January 2022:

"France to force EDF to take €8.4bn hit with energy bill cap
... EDF has said the plan could hit its earnings before interest, tax, depreciation and amortisation by between €7.7bn and €8.4bn based on market prices in December and January. Barbara Pompili, France’s environment minister, said the government planned to help EDF withstand the blow but has offered no details on this. ..."
https://www.theguardian.com/business/2022/jan/14/france-edf-cap-household-energy-bills

Steve,

It's a big hit, but is still only about half of EDF's EBITDA.

And as EDF is largely (c. 84%) owned by the French state, it should provide it with any support it needs.

Furthermore, EDF's stake in PODP is a drop in the ocean in comparison.

And PODP itself is very well-funded after raising about £100M. gross from its November IPO for the company, and its losses aren't that big.

So I don't see why that news last month would have caused the drop.

I think it's largely due to the correction in tech etc. stocks.

But that seems to have stabilised now, with the NASDAQ recovering strongly recently.

Meanwhile, new regulation of ADDs (acoustic deterrent devices) will support the adoption of more modern ADDs such as OTAQ's Sealfence, which can operate at lower volumes and frequencies:

15th Dec 2021 7:00 am RNS Interim Results
" ... The Group also believes that Sealfence is compliant with the updated United States Marine Mammals Protection Act which will be fully enacted in January 2022. This will potentially open up the business development opportunities in North America and Norway as salmon exports to the USA are required to comply with the act which requires no marine animals to be harmed in the farming of salmon. ..."
https://www.lse.co.uk/rns/OTAQ/interim-results-pjcbcd45x2fm49r.html