Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Am I right in thinking that this contract alone will increase revenues by around 25%? Any ideas whether they have capacity for that kind of increase or whether they will need to expand? 25% is a huge amount to grow in one go.
Those two directors cannot buy more without making an offer for the whole company, at a price no lower than the highest price they paid in the last 12 months, which is 17.14p, and would cost £14.5m. They received ~£57m from the IPO.
Read the RNS, jedclampit:
"As of 9.00am on Monday 2 October 2023, votes over a total of 23,366,016 (c.68.97% of total votes cast) Ordinary Shares had been cast by proxy against Resolution 2, the proposed Final Dividend of 1.6 pence per share"
Https://www.lse.co.uk/rns/KLSO/new-investment-theworkscouk-plc-0l51tx2gt1mj8ac.html
"Kelso, the main market listed investment company, is pleased to announce that it has made its second investment, having purchased 2.0 million ordinary shares in TheWorks (LSE: WRKS) at an average price of 31.3p, representing 3.2% of the issued share capital of TheWorks."
"Kelso believes that the business proposition of TheWorks is strong with its focus on affordability and that the valuation is highly attractive at an EV/EBITDA1 of c.1.2x. Kelso is supportive of the current board and has voted for all of the resolutions proposed at the forthcoming general meeting on 4 October 2023, save for the resolution proposing a final dividend of 1.6p per share equating to £1.0 million. Kelso believes that at such valuation levels TheWorks' cash is better served by buying its shares back for cancellation rather than paying dividends."
https://****neyrebel.substack.com/p/the-weekend-rebel-review-15-16th
"wrks say they are in-line with previous update so roughly £10m net cash, £10m net ebitda, £20m mkt and will meet forecasts, looks cheap, and that stronger £ and lower shipping must help going fwd as it should help many consumer stock imo"
Https://citywire.com/wealth-manager/news/expert-view-theworks-halma-croda-victrex-robert-walters/a2419644
"
Discount retailer TheWorks (WRKS) is trading more positively than the market expected and profits are looking up for 2024, says Downing’s Judith MacKenzie.
MacKenzie holds the seller of books, stationery, games, arts and craft in her £36m Downing Strategic Micro-Cap (DSM) investment trust and in a recent update reported a rise in the share price after ‘a full-year trading update that was more positive than the market expected’.
‘While online sales declined, the physical stores reported impressive like-for-like growth of 7.5%, with total sales improving to over £300m,’ MacKenzie said.
‘Adjusted Ebitda was expected to be in line at £9m. The outlook, while cautious of consumer headwinds, reaffirmed FY24 profit expectations.’
"
Https://www.linkedin.com/feed/update/urn:li:activity:7058876500615294977
"The team you see here, is the team that have led Merryhill to another successful year again. Making it No1 for sales in the company and positive LFL for the 3rd year in a row!"
"Prima partners with The Works to launch craft kit range"
Prima is a magazine. The launch was a few weeks ago and the products are already in stores.
https://magnetic.media/news-views/news/prima-partners-with-the-works-to-launch-craft-kit-range
https://www.retail-week.com/customer/ranking-the-50-most-loved-retailers-in-the-uk-for-2023/7043292.article
The Works is at position #41, up from #48 last year.
https://www.thesun.co.uk/fabulous/21537046/parents-the-works-wooden-toys-prices-3/amp/ "Parents scramble to get their hands on The Works’ wooden toy collection, with prices from just £3"
https://www.leicestermercury.co.uk/whats-on/compared-paperchase-prices-works-others-8148346 "We compared Paperchase prices to The Works and others to see how good closing down sale really is"
https://www.google.com/amp/s/www.bournemouthecho.co.uk/news/23322943.amp/ "Opening of The Works at old Post Office in Ringwood delayed"
https://www.theworks.co.uk/page/world-book-day.html
"We're passionate about giving every child the opportunity to read and that's why we are proud to be taking part in World Book Day for the first time ever!
Bring your voucher into stores between 16th February - 26th March and exchange for a free book from a variety of titles from our World Book Day range or get £1 off any books priced £2.99 or over"
(The voucher is funded by the 'World Book Day' charity.)
https://vimeo.com/797369311/3d01e86474
Profit protection means theft reduction. Dave Purdoe previously worked in the same role for Card Factory, joined The Works in December 2021. He is the only person working in profit protection, as the previous profit protection team was let go during the administration of 2008.
Some quotes:
On his role:
"I know from the Card Factory model and people listening to this will know full well some of the like for like that post well crafted interventions of an investigative nature I think will just blow us away. I will be personally disappointed in next 12 months if there's not a discernible difference on the balance sheet because of activity my function is driving. Somewhere, there'll be a set of financial accounts at Card Factory that actually said, you know, something's changed in the financials and we can only put it down for the approach the world in investigation and for me that you know, you going on telling stakeholders and shareholders out. That's a fantastic accolade. That's something that I want to repeat with The Works."
On trading:
"The store elements of the estate's traded really well had a decent Christmas to be honest. I'll break that down. So we've got some locations that probably given our time again, we wouldn't have opened but I think there's plenty of multisite retailers in that particular position. We've opened some cracking new locations and you walk in and are blown away like Leeds White Rose. It just looks fantastic and it's something that you've got a real pride in and your put your name by and walk around because you're proud to be part of that. So we've got locations that are performing fantastically. Like every multisite retailer we still have a number of locations that haven't come back post covid and I don't know what the future will be as regards where performance will lie with them.
The online piece still is not up to where it should be now, whether there's a naiveitate to imagine that lockdown online type frantic activity would continue once our freedom was given back to us. They don't know but it's certainly not where it needs to be. If that can come into line and I'm confident it will come into line it'll just be an amazing business. It really will be because as I said, we've got stores that just absolutely smash it.
Some of the the products we've been knocking out now and you know, we're getting branded Publishers who are coming to us now saying look got a book launch. Do you want to be involved or throw some markers in some PR your way. Historically that was like we're not we're not going to a discounter so we'll sell it anywhere else on the high streets at full price before we come to you. Complete change."