Member Info for Hedgehog100

And another new Safetell article on automatic doors, highlighting the regulatory and safety drivers fuelling this huge and exciting expansion opportunity for the company:-

"What are the current automatic door legislations that apply for powered pedestrian doors?

13 June, 2023

Automatic door Legislations, an overview

Meeting automatic door legislation and adhering to safety standards is crucial for any organisation where one is installed, and automatic door safety is of paramount importance to ensure the well-being and protection of anyone who uses it. Automatic doors provide convenience, accessibility, and efficiency, but they also pose potential risks if not properly maintained and operated. By complying with automatic door legislation, businesses can ensure that their doors meet the necessary automatic door standards, including the installation of appropriate sensors, safety features, and emergency systems.

Meeting automatic door standards and complying with automatic door legislation not only safeguards the welfare of users but also helps mitigate liability and legal risks. It demonstrates a commitment to creating a safe environment and enhances the reputation and trustworthiness of the organisation.

Compliance with automatic door legislation helps to foster a culture of safety, ensuring that all individuals, including those with disabilities or limited mobility, can access and navigate spaces with ease and confidence.

Which safety standard is commonly used for automatic doors?

In the UK, the automatic door standards and safety regulations for powered pedestrian doors are governed by various codes and guidelines, with the primary standard being BS EN 16005:2012.

The BS EN 16005:2012, officially titled “Power operated pedestrian door sets – Safety in use – Requirements and test methods,” sets out the automatic door standards and guidelines for the safe operation and installation of powered pedestrian doors. It specifically focuses on the automatic and power-assisted swing and sliding doors used for pedestrian access.

The standard encompasses a range of safety aspects to protect individuals using these doors. It addresses potential hazards and risks associated with the operation of powered pedestrian doors and provides guidelines to mitigate these risks. The standards cover the management of a number of key elements in powered pedestrian doors including sensor technology and safety features, activation devices, door opening and closing forces, safety measures for emergency situations, as well as door installation and maintenance. ... "

http://www.safetell.co.uk/insights/automatic-door-legislation/

And GT's groundbreaking new GT8 terminal, with its multiple new potential applications and possibilities, looks well aligned with the 'knowledge is power' principle:-

23rd Jan 2023 7:00 am RNS Final Results

" ... We have developed for Protime, our largest European partner, an additional functionality within our Android feature set that enables them to adopt the new GT8 time clock. ..."

https://www.lse.co.uk/rns/NWT/final-results-fjybevmguogyzsg.html

"GT8

Designed to excel in high-capacity environments

A high level of data and biometrics security

The GT8 offers a new approach to HCM with its high functionality and intuitive usability. Designed to control costs and enhance workforce productivity, this time clock will revolutionise internal working processes. Developed to deliver seamless and simple data security and safeguarding that provides assurance to managers and employees, the GT8 offers an intuitive experience for all users.

A high-capacity finger biometric and facial recognition solution for large workforces, the GT8 delivers high performance that will streamline your HCM processes. The touchless interface reduces the risk of contamination, keeping the environment safer and more hygienic.

The GT8 combines robust longevity with modern security practices, making it an effective investment in the protection and management of a workforce, no matter how large.

Utilising the AndroidTM 10 operating system, applications for the device are easily developed using familiar tools and frameworks for enhanced personalisation within an organisation."

http://www.grosvenortechnology.com/product/gt8/

A useful new article from the website of Protime, Grosvenor Technology's largest European partner:-

"Why it's a good idea to register all your company activities

8 June 2023

10 Timeregistration

Your company has different departments. Within those departments, your employees may perform different types of activities. You want to record effortlessly how long all those tasks and subtasks take. This allows you to know the cost of a finished product or service you deliver. Allow us to explain why a multilevel activity solution is an added value.

Your time and attendance registration is on point. You know which of your employees are present, who works for which department, what their timetables are, when leave was scheduled, and so on. But do you know how much time all tasks take up? Can you say with certainty how many people you need when you want to perform a certain activity in a predefined time frame? Can you record that somewhere?

Measurement is knowledge

First of all, you need to identify how much time your (sub)tasks take up. Here’s a list with several possible reasons why: ...

This means that thanks to activity logging, you can plan and distribute your employees' tasks within the company more efficiently. You know perfectly who you need for which task and when. Moreover, you can very easily determine the personnel cost of a finished product or service.

"But my employees themselves can specify how much time they need for an activity". Was this what you were thinking? Then we would like to refer you to the ‘planning error’. This refers to the common fact that people often misjudge their time needed for a task and there is nothing they can do about it. By actively recording, you can measure and therefore know with certainty. ..."

https://www.protime.eu/en-gb/news/why-its-good-idea-register-all-your-company-activities

Protime is a European market leader in time registration and personnel planning, and GT is one of its most important partners:-

"Grosvenor Technology

Protime works in partnership with Grosvenor Technology for hardware solutions in the fields of access control and workforce management solutions."

https://www.protime.eu/en-gb/about-us/partners

Yet more good news for the UK battery sector:-

"Rishi Sunak and Joe Biden announce green funding agreement

11 hours ago

By Sam Francis

Political reporter, BBC News

UK firms could gain access to US green funding as part of plans to boost UK and US ties announced by Rishi Sunak and Joe Biden.

The pair unveiled the Atlantic Declaration, to strengthen economic ties between the two countries, at a White House press conference.

The PM said the agreement, which falls short of a full trade deal would bring benefits "as quickly as possible".

UK electric car firms may get access to US green tax credits and subsidies.

As the pair unveiled their partnership to bolster economic security, Mr Sunak said the UK-US relationship was an "indispensable alliance".

The Atlantic Declaration, includes commitments on easing trade barriers, closer defence industry ties and a data protection deal and steps up co-operation on AI. ...

New green funding

The Atlantic Declaration includes plans to mitigate some of the impact of the US flagship Inflation Reduction Act (IRA) on the UK economy, with proposals to remove barriers which affected trade in electric vehicle batteries. ... "

https://www.bbc.co.uk/news/uk-politics-65846871

And with battery technology companies being ARA's particular area of RTO interest, the timing looks ideal to boost investor commitment to such an imminent ARA RTO deal.

Thanks for the correction Jessie, and sorry for the mistake.

Small shells generally float at a single figure share price, e.g. 1p v. 10p.

Though of course it doesn't actually make any difference to the market cap.: you just have far more shares in issue at a far lower price.

It is standard practice in a RTO to give a value of a minimum of £200K.+ for the stock market listing.

That being the case, then ARA's minimum fair value with it's cash looks to be about 1p/share, i.e. the price it listed at.

So at just 6p/share this is looking well undervalued: indeed the most undervalued traded UK shell that I am aware of, but paradoxically with some of the most impressive management.

And there looks to be little chart resistance between the 6p and c. 7.5p levels.

So with ARA nicely poised at 6p, and exciting news expected soon, then a swift and strong move upwards from this level would make perfect sense.

Change % Chg Cur Bid Offer High Low Open Volume Chg Time RN NRN

0.25 4.3% 6.00 5.50 6.50 6.00 5.45 5.75 359,799 09:00:15

Another big volume share trades day today for ARA - it's second highest ever - has seen it close back up at 6p.

This makes c. a couple of million ARA shares traded in c. the last month - nearly a fifth of the shares in issue.

Such big volume ahead of an anticipated RTO deal seems very significant and exciting.

And share buying tends to be more significant than selling.

Because buyers have thousands of shares to choose from, whereas sellers may only have a few ... and in some cases may have no choice but to sell.

My gut feeling is that big, exciting RTO news here is now probably imminent, and that we are now in the 'end game' of share trading ahead of this.

"But its already been shown that your opinion is often worthless TYB."

Well Flashgarden,

Your opinion is ALWAYS worthless, LOL!

TYB has over years shown himself to be a very honest and trustworthy poster.

And he has previously made BIG money from share investment.

In contrast, all you ever seem to have done is troll, engage in rather shady & sordid short term trading, and attack people that you're not worthy to lace the boots of.

Of course no investor gets it right the whole time, especially regarding short term timing of news & s.p. moves, which can be very unpredictable.

But you have to say that ZEN is now looking very undervalued, and should be enjoying some strong tailwinds in H2 of this year, and with multiple BIG s.p. catalysts.

That being the case, multibagging by the end of this year looks a very real possibility.

I think this helps to explain why ZEN's CFO (a profession renowned for being financially cautious) invested c. £150K. into ZEN in February at 0.54p/share:-

28th Feb 2023 7:00 am RNS Institutional investment in Zenith

"... Mr. Luca Benedetto, Chief Financial Officer of Zenith has subscribed for 27,726,716 common shares of no-par value in the capital of the Company in connection with the Norwegian Financing.

Upon the Norwegian Financing Admission, Mr. Benedetto will be directly beneficially interested in a total of 27,726,716 common shares in the capital of the Company, representing 1.20% percent of the total issued and outstanding common share capital of the Company. ..."

https://www.lse.co.uk/rns/ZEN/institutional-investment-in-zenith-443cyzkax6xzhbk.html

It's a bit like buses: you can wait ages for one, and then two come along at once.

Though fortunately with NWT you can ride both at once ... and for the price of just one ticket.

And now looks to be an ideal time to hop aboard the joyride.

Great growth opportunities, at a lowly-rating, and nicely profitable, are pretty rare.

But to get TWO such opportunities (i.e. Grosvenor Technology and Safetell) within just the ONE share is (virtually) unprecedented.

'Seek and ye shall find' they say, but I think that you would be looking for a long time - or even perhaps forever - without finding something as good as this.

And if NWT doesn't multibag within the next couple of years (or even earlier) then I'll be a monkey's uncle.

The automatic doors market looks to be a huge expansion opportunity for Safetell, and one which it seems to be seizing zealously, already achieving significant success:-

17th May 2023 7:00 am RNS Year-end trading update

" ... The Group's market share has continued to grow in Automatic Doors Services, with new national service contracts increasing recurring revenues. ..."

https://www.lse.co.uk/rns/NWT/year-end-trading-update-5xr1fml6a08a34o.html

Safetell's size, and the fact that it is 'system agnostic', should mean that it is far better equipped to handle national servicing contracts than the smaller players in this fragmented industry.

And with other providers having a poor reputation, Safetell could well be meeting a compelling gap in the market.

Indeed there's no reason why it can't become a 'go-to' provider for such national servicing contracts, if indeed it isn't already.

Safetell reported over £15M. of turnover in its year ending 30.4.15, and the UK autodoor servicing market is estimated at twice the size of Safetell's traditional markets; and can also provide higher margins and more recurring revenues.

"Automatic door service and maintenance

Downtime on your automatic doors can have a significant effect on your business.

Our clients minimise this risk and avoid costly, unplanned, emergency expenditure, by getting their equipment serviced and maintained regularly by Safetell.

We are a customer focused service provider, ‘repair not replace’ mentality.

System agnostic, we are always able to give the best advice on equipment regardless of the make and model. This means that we are not trying to sell unnecessary products when they can be repaired and maintained for many years. Existing providers in the automatic door servicing industry have a poor reputation, and rather than repair existing parts they will replace with their own."

https://www.safetell.co.uk/automatic-door-service-maintenance/

"Automatic Doors Require Annual Maintenance to Meet Safety Standards

... What Is the EN 16005?

The EN 16005 directive has been in effect since 2013 and applies to major European economies such as the UK, Germany, France, Italy, and Spain. The EN 16005 directive, which applies to all European Committee for Standardisation countries, mandates strict safety standards for power-operated doors used for normal access, in escape routes, and as fire resistance and/or smoke control door sets. The directive requires the installation of safety sensors and door operators that are in constant communication to prevent people and goods from being hit by moving doors.

Annual maintenance by approved technicians is also required for all doors covered by EN 16005 to ensure safety standards are met. Failure to comply may result in potential liability for owners if an incident occurs due to a faulty door. Although the regulations were intended for use in Europe, they have been adopted by nations in the Middle East and Asia as well. The scope of the directive covers all significant hazards, hazardous situations, and events relevant to power-operated door sets when they are used as intended and where conditions of misuse are reasonably foreseeable by the manufacturer.

How Safetell Can Help

Safetell provides automatic door servicing and maintenance services, including annual checks for compliance with EN 16005 regulations and repairing faults to minimise downtime. The company follows a “repair not replace” approach, helping customers save money by avoiding whole system replacements. Safetell provides unbiased advice regardless of the makes and models of the equipment, and it has a proven track record in automatic door servicing and maintenance. If you need help becoming compliant with EN 16005 or require any additional support or advice, get in touch with a representative."

http://www.safetell.co.uk/insights/automatic-doors-require-annual-maintenance-to-meet-safety-standards/

"Automatic Doors Require Annual Maintenance to Meet Safety Standards

01 June, 2023

Automatic doors offer a range of benefits that make them an increasingly popular choice for commercial buildings, hospitals, and other public spaces. They can improve accessibility for people with disabilities, reduce energy consumption by regulating the temperature and minimising the need for heating and cooling, and can be equipped with safety features to provide enhanced protection and access control.

It’s no wonder that many companies around the world are opting to install automatic doors. However, they must remain cognisant of increasingly stringent safety regulations and standards that are applicable, including the widely adopted EN 16005 directive.

The Size Of the Market

The global automatic door market was valued at $18.44 billion in 2021 and is projected to reach $30.09 billion by 2027, with a CAGR of 8.27% during 2022-2027, according to IMARC Group. The report cites significant growth in the construction industry and the increasing demand for secure and convenient door access for differently-abled individuals as drivers of growth.

The impact of COVID-19 has also led to a rise in demand for hands-free access to public places. Technavio’s report projects a YOY growth of 5.23% at a CAGR of 5.91% during 2021-2025, with APAC expected to account for 49% of the market growth, with China being the most important market for automatic doors. A surge in investment in commercial real estate projects with upgraded facilities in APAC is expected to drive market expansion. Additionally, Europe and many locations in Asia and the Middle East will comply with EN 16005 regulations for all new power-operated doors installed after 10th October 2012, used for normal access, in escape routes, and as fire resistance and/or smoke control door sets.

The European automatic door sensor market is expected to grow at a CAGR of 4.4% from $305.3 million in 2019 to $427.5 million in 2027, according to a Research and Markets forecast. The report attributes the growth to the popularity of smart airports and the increasing investment in smart airport technologies such as smart sensors, communication and network systems, cameras, RFID tags, and wearable devices by European governments. The aviation industry’s growth has also complemented the development of associated technologies, such as internet connectivity, leading to further market growth.

It’s therefore important that all businesses familiarise themselves with the EN 16005 directive and take care to adhere to the requirements. ..."

http://www.safetell.co.uk/insights/automatic-doors-require-annual-maintenance-to-meet-safety-standards/

I can tell you the latest ZEN posting figures, Flashgarden:-

You are the clear winner today here with ten posts!

Compared to my mere three, including this.

Though people can judge for themselves whether your quality matches the quantity, LOL!

As regards meeting expectations: I posted this on Thursday 24th. November 2022:-

"And they are expected to exceed that full year revenue of CAD$8,239,000 in just the first half of this year alone, i.e. the six months that ended at the end of September."

https://www.lse.co.uk/rns/ZEN/half-year-report-zruvcyrci0abvf8.html

ZEN more than met those expectations:-

30th Nov 2022 9:02 am RNS Half-year Report

" ... The Group generated revenues from oil and natural gas of CAD$11,571k (2021 - CAD$2,344k) ..."

https://www.lse.co.uk/rns/ZEN/half-year-report-zruvcyrci0abvf8.html

A stunning increase in interim revenues of nearly five-fold (4.936 x higher).

I.e. nearly 400%.

Resulting in an interim gross profit of CAD$6.665M. (up from just CAD$0.128M., a 52-fold increase), demonstrating the company's strong gearing to increased revenues.

Resulting in a strong move from interim operating loss of CAD$6.294M., to interim operating profit of CAD$1.714M

Rounded off by a nice interim pre-tax profit.

If that was on 'disappointing' production increases, then hopefully we will receive lots more such 'disappointments' going forward, LOL!

Interesting Flashgarden that my post didn't actually mention you, but you clearly choose to 'wear the cap'.

And sorry that you find accurate facts and intelligent analysis boring, but I don't see why I should 'dumb down' to cater for the thicko brigade.

If you want more thickness and stupidity then perhaps you should move over to ADVFN.

I would also add that there is something truly pitiful - and also deeply unpleasant - about people who try to 'p--- on the parade' of shareholders celebrating good news.

It's a sign in my opinion of a deeply deeply disturbed, very insecure, and very unhappy individual.

"I do not think he mentioned Tunisia once in that interview, and its removed from the RNS footer, used to be Italian And Tunisian Assets."

Jiff,

In its RNS 'footer', ZEN has actually dropped individual country mentions of ANY non-electricity generation assets, including no longer mentioning Italy in the non electricity generation part.

Instead it's using continents etc., including the Middle East, to reflect how it is expanding:-

2nd Jun 2023 7:00 am RNS First Agreement for USA acquisition campaign

" ... Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Africa, the Middle East and Europe, including electricity generation in Italy. ..."

https://www.lse.co.uk/rns/ZEN/first-agreement-for-usa-acquisition-campaign-erv7g2kltw7dh1q.html

2nd Dec 2022 11:07 am RNS Development of Italian Gas Production Portfolio

" ... Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Tunisia, Italy and the Republic of the Congo, including electricity generation in Italy. ..."

https://www.lse.co.uk/rns/ZEN/development-of-italian-gas-production-portfolio-2droq8owfaj2ipw.html

24th Jun 2022 9:50 am RNS Operational update, Robbana concession

" ... Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Tunisia, Italy and the Republic of the Congo, including electricity generation in Italy. ..."

https://www.lse.co.uk/rns/ZEN/operational-update-robbana-concession-6dp94hwtvpv3wpi.html

'Good luck' with you FCA complaint, and let us know if you get prosecuted for time-wasting, LOL!

In contrast to the silly little trolls haunting this board, ZEN clearly are not wasting time, with a major development in their US strategy just a week after it was first unveiled, so well done to them on such impressive speed of action.

Today's news is a major step towards reaching the 500 BOPD US figure given last week.

And 500 BOPD, at an oil price of say c. US$80/barrel, would equate to c. US$14.6M. p.a.

Moreover, that is just at the production rate that might be achieved upon completion: last week's RNS suggested that development activities could potentially increase this further.

We can clearly expect be a series of US acquisition announcements from ZEN.

And with the sector in the doldrums at the moment, but with a robust energy prices outlook going forward, this looks like the ideal time to be a buyer.

Such additional significant revenue could help ZEN to pass a 'tipping point' into strong profitability, as well as providing more 'safe country' exposure and geographical diversification - all of which would help to further de-risk it.

Along with its Italian and Tunisian revenues, significant US revenues would further help to underpin ZEN's downside, but with the enormous potential upside of the Benin and Yemen deals.

Following on from PNPL's proposed hydrogen RTO just over a month ago, NZI has today also announced a proposed hydrogen RTO:-

"Possible Acquisition and Suspension of Listing

NET ZERO INFRASTRUCTURE PLC

Released 07:51:00 01 June 2023

... The Directors of the Company are pleased to inform shareholders that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of LINE Hydrogen (Australia) Pty Ltd, a limited liability company in the renewables energy sector incorporated in Australia (the "Potential Target") in consideration for an issue of new shares in the Company (the "Acquisition"). The Acquisition, if completed, and an associated proposed private fundraise by the Company, details of which will be announced in due course, would result in the shareholders of the Potential Target having a majority interest in the enlarged group. ...

NZI's Chairman, Mike Elwood said: "Joining forces with LINE Hydrogen means we can leverage our joint resources with a view to expanding operations and driving the development of the green energy sector. Together, we believe that we are well-positioned to capitalize on the growth potential in this market and contribute to a more sustainable future."

Brendan James, Founder and Executive Chairman of LINE Hydrogen, added: "We are thrilled to announce our proposed transaction with NZI," said Brendan James, Founder and Executive Chairman of LINE Hydrogen. "The planned merger reflects our shared vision of advancing the hydrogen economy and accelerating the adoption of clean energy solutions. We believe that, by combining our strengths and expertise, we can create significant value for our shareholders and make a positive impact on the global energy landscape." ...

About LINE Hydrogen (Australia) Pty Ltd

LINE Hydrogen (Australia) Pty Ltd is an Australian-based hydrogen production company. The company specializes in the production, distribution and storage of hydrogen for various applications, offering innovative solutions that contribute towards a sustainable and decarbonized future. ..."

https://www.londonstockexchange.com/news-article/NZI/possible-acquisition-and-suspension-of-listing/15980830

"Green

Hydrogen Production

Now"

"LINE Hydrogen will deliver early market, commercial scale green hydrogen for diesel replacement in Australia."

https://www.linehydrogen.com.au/

NZI has been suspended today at a price of 1.35p, market cap. £819,450 (60.7M. shares in issue).

That's significantly higher than ARA's current market cap. of £603,750 at 5.75p, although ARA has significantly more cash than NZI.

"Proposed Acquisition and Suspension of Listing

01/06/2023

DOCUMENT DOWNLOAD"

https://nziplc.com/rns-news-headlines-2/

"Possible Acquisition and Suspension of Listing

NET ZERO INFRASTRUCTURE PLC

Released 07:51:00 01 June 2023

... The Directors of the Company are pleased to inform shareholders that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of LINE Hydrogen (Australia) Pty Ltd, a limited liability company in the renewables energy sector incorporated in Australia (the "Potential Target") in consideration for an issue of new shares in the Company (the "Acquisition"). The Acquisition, if completed, and an associated proposed private fundraise by the Company, details of which will be announced in due course, would result in the shareholders of the Potential Target having a majority interest in the enlarged group. ...

NZI's Chairman, Mike Elwood said: "Joining forces with LINE Hydrogen means we can leverage our joint resources with a view to expanding operations and driving the development of the green energy sector. Together, we believe that we are well-positioned to capitalize on the growth potential in this market and contribute to a more sustainable future."

Brendan James, Founder and Executive Chairman of LINE Hydrogen, added: "We are thrilled to announce our proposed transaction with NZI," said Brendan James, Founder and Executive Chairman of LINE Hydrogen. "The planned merger reflects our shared vision of advancing the hydrogen economy and accelerating the adoption of clean energy solutions. We believe that, by combining our strengths and expertise, we can create significant value for our shareholders and make a positive impact on the global energy landscape." ...

About LINE Hydrogen (Australia) Pty Ltd

LINE Hydrogen (Australia) Pty Ltd is an Australian-based hydrogen production company. The company specializes in the production, distribution and storage of hydrogen for various applications, offering innovative solutions that contribute towards a sustainable and decarbonized future. ..."

file:///C:/Users/adult_int/Downloads/Possible-Acquisition-and-Suspension-of-Listing.pdf

"Green

Hydrogen Production

Now"

"LINE Hydrogen will deliver early market, commercial scale green hydrogen for diesel replacement in Australia."

https://www.linehydrogen.com.au/

Looks like it could be a large and exciting RTO.

NZI has been suspended today at a price of 1.35p, market cap. £819,450 (60.7M. shares in issue).

Dab808 Posts: 151 Price: 53.50 Strong Buy

RE: Excellent Medium Term Multibagger Potential

"... I can't see anything below £20m being considered given the shareholder structure and I could see the PE firm offering the incentive to retain some investment if the existing shareholders want to roll again."

Dab,

If a private equity acquirer wishes to give NWT shareholders the option to retain some/all of their investment, even at a market cap. of say c. £20M., then I think that many shareholders would wish to do so.

After all, where else are you going to invest the money?

Look around in the stock market at the moment, and you will see how little there is that is really attractive in the current challenging environment, considering both business outlook and valuation.

Great growth stocks don't grow on trees, and investors may be fortunate if they get even a couple of NWT-like opportunities in a lifetime.

A £20M. market cap. could eventually become £200M., so if shareholders have the opportunity to take out their initial investment, plus a healthy profit, and run the rest for more than free, then I for one would be very tempted to retain at least half my initial shareholding.

Dab,

There are clearly different strategic sale-investment options here:-

• Complete takeover of NWT.

• Takeover of one of NWT's subsidiaries.

• Strategic investor taking a stake in NWT at a large premium.

• Strategic investor(s) taking a stake in Grosvenor Technology via a spin-out.

My view is that GT's large US tech growth business gives it great opportunity to capitalise upon much higher US valuations for such companies, so it should be looking to do this if possible.

E.g. at a pre new money s.p. of say c. 200p or equivalent.

Either way, a large new strategic investor can help to attract in other investors to bid the s.p. up, plus of course providing useful funds to help the company's growth opportunity.