Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
The other point worth making.
The company will be paying for 2 leases for months. The current one and the new one at the new facility.
"The new facility's first phase is anticipated to reach completion in Q1 2024, with the full site expected to be operational by Q2 2024. hVIVO's current Whitechapel and Queen Mary Bioenterprises Centre (QMB) clinics will close in 2024 but will remain fully operational throughout this transition, ensuring uninterrupted service delivery to the Company's clients."
https://polaris.brighterir.com/public/hvivo/news/rns/story/xlkgv3w/export
How much is the new lease costing them?
Luckymaybe
"Please post the evidence"
Read the rns', company newsflow.
Read my posting history. Look at the warnings on Trmr/RTHM/Nano/Byot. Virtually everything came true and shares crashed.
Company newsflow:
There's no evidence of institutions buying in 2021, 2022, 2023.
Shares on loan avg around 10-11m during 2022-2023.
Feb 2022 - CEO appointed.
Feb 2023 - CEO receives >7m options, awarded to 1 director.
Talk of nominal dividend, institutions buying 1-2%, which is hardly anything for institutions.
Repeatedly tipped in media over past 3 months, same message repeated.
Shares rise on media tips.
After they were tipped in the media,
Feb 2024 Chairman dumps majority of his holding at 28p. He had been buying 2.5years earlier at around 26p and they reached profit since.
The company figures show growth has slowed significantly
Fy2022: £48.5m (+30%)
Fy2023: £56m (+15.5%)
Fy2024: £62m(+10.7%)
"Full year revenue of £56.0 million, an increase of 15.5% (2022: £48.5 million)
Revenue guidance of £62 million for 2024"
https://polaris.brighterir.com/public/hvivo/news/rns/story/xopzn1r/export
My posting history is consistent.
https://www.lse.co.uk/profiles/stt1/
I see a questionable business model
What's new in that presentation? Nothing.
It's the same stuff.
The Chairman/Founder obviously knew what was going to be said.
Yet, he still dumped majority of his holding recently. Why?
I consider that as a major red flag.
The CEO has huge > 7m options, which were awarded only a year ago and exercisable from a year's time. That's why I believe they are being talked up so much.
There's no evidence of significant buying/holding by institutions in 2021, 2022, 2023. Company being talked up and institutions take a small stake.
Look at the presentation, yourselves. They clearly show that growth (revenue/order book) has slowed significantly.
Questionable business model.
TwoGood2Die
Your post 4th March, where you claimed you were posting facts.
"Totally Plc fails consistently to deal with NHS waiting lists...FACT!
To date waiting lists have become worse due to Totally Plc....FACT!"
Waiting lists are down and not worse.
Going by your logic, fact as you claim, waiting lists have become worse due to TLY. Given waiting lists have gone down then that must be due to TLY as well. After all, it's YOUR fact, voted up 4 times.
I await your post congratulating TLY on reducing waiting lists. :-)
FACT.
Waiting lists gone down despite the junior doctors strike.
https://www.dailymail.co.uk/health/article-13196291/NHS-waiting-list-strike-action-patients-delays-AE.html
It's amazing some are completely clueless. They've been quoting the total liabilities for YEARS, despite this being explained clearly regularly.
Yet the company still managed to buy other companies, win national contracts, pay dividends.
Have you looked at the current liabities and assets at HVO, a share you're ramping?
They have total liabilities of £31m (as of fy2022, latest AR not available yet) and yet they will be paying for 2 leases for several months, as of beginning of this year.
Sanderling,
"Saw the JP Morgan Smaller Companies Investment Trust has 11m shares"
Not much more than the CEO's > 7m options, is it?
This is being talked up.
Read the company newsflow, especially the growth figures around revenues/order book.
The CEO dumped majority of his holding recently. He obviously knows the figures.
Blackrhino
"Mo dropped in that the update on the final accounts would be early April. That should give them a good opportunity to update us on the order book"
Given the final accounts were April last year, then it's obvious the final accounts will around the same time this year.
Have they announced any orders to suggest the order book will be any different to what they've already stated? No.
"The longer they wait the more they’ll have to pay ."
Best wait to see what the final results reveals then. If the figures continue to show a significant slowdown in revenue/orders rate then those waiting could end up paying less.
;-)
Blackrhino
"Very professional, controlled and reassuring."
It would be. They are being talked up. Nothing new though, was there?
The CEO has huge > 7m options, awarded a year ago, exercisable in a year.
So much promise, the Chairman/Founder dumped majority of his holding recently.
Don't take my word for it, look at the last 2 rns.
They have a questionable business model.
"The whole point of them moving to the new facility in Canary Wharf is to be able to run concurrent challenge models and hence growing revenue faster."
From fy2022 to fy2023, their order book rose just 5%, £76m to £80m. How do you suppose they will grow revenues faster?
Are you saying they have been turning down new orders?.
It's their figures from their presentation.
fy2023 to fy2024 revenues up 10%, not the 15% they mention.
fy2022 to fy2023 net contracted order book up only 5%, £76m to £80m.
Both show significant slowdown.
Kilman,
"Growth has slowed significantly."
I see a company increasing revenue/profits "
Readers. Look at page 6 of the presentation.
Revenue
2023 £56m
e2024 £62m
Use any calculator and you'll see the revenue increase from 2023 to 2024 is 10% and not the 15% yoy they mention(fy2021 to fy2022 was 15%, which was significantly lower than the previous year). That backs up my assertion that growth has slowed significantly.
Growth slow significantly
Fy2022: £48.5m (+30%)
Fy2023: £56m (+15.5%)
Fy2024: £62m(+10.7%)
Just the same 'talking up'.
As commented before, it's been talked up....
You have to wonder why, with all the talking up suggesting business is booming, the Chairman/Founder dumped the majority of his holding recently??
The facts haven't changed.
The CEO has a huge > 7m options which were awarded a year ago and exercisable in a year.
Chairman/Founder dumped majority of his holding recently.
Growth has slowed significantly.
Clients largely paying for the new facility.
Despite all the talking up, no evidence of significant buying/holding by institutionS.
I see a questionable business model, where growth has slowed significantly.
Read the company newsflow.
An increasing number of Elective Care procedures are being carried out by Private Providers.
Revealed: The ICBs most reliant on private hospitalsBy James Illman23 February 2024 Bath
Up to 20 per cent of NHS elective patients are now being treated by private hospitals in some areas, analysis by HSJ suggests.
https://www.hsj.co.uk/quality-and-performance/revealed-the-icbs-most-reliant-on-private-hospitals/7036620.article
Great to see another contract win in Republic of Ireland.
Shows those that say TLY have only 1 customer are clueless.
TLY provide their services in all 4 UK Nations and Republic of Ireland. Each UK Nation has many local NHS Bodies.
Given the NHS year end is 31st March, I would expect to see some contract wins/extensions within the UK, either during March or April.
Hallsworthy,
"Stt "Still no TR1s""
Where's all these TR1 showing significant holdings by InstitutionS you refer to? I've said there's no evidence of significant buying/holding by InstitutionS 2021, 2022, 2023. Some institutions hold 1-2% but institutions do take punts in companies.
Look at TLY, the share you claim you held and like to comment on:
https://www.lse.co.uk/profiles/hallsworthy/
TLY have published several TR1s over the past few months with institutions increasing. In fact, there was another only a couple of trading days ago, Thurs where the Canaccord declared > 5%. I'm asking where's the similar run of TR1s here????
"Having no idea what a nominal dividend is"
The company themselves have said they INTEND to pay a Nominal dividend. You're claiming it will be 1p, I'm saying nearer to 0.1p based on my experience and company statements.
Why do you have a problem if someone disagrees with you?
There were several media tips early in the year.
My comments have been consistent and based on company newsflow.
This was/is being talked up so they can sell and the Chairman/founder did.
The Chairman and founder dumped majority of his holding so soon after it was talked up.
The CEO has a huge 7m options, awarded a year ago and exercisable in a year.
The revenue growth has slowed significantly.
This is being talked up.
Read the company newsflow.
Hallsworthy,
"I don't think Stt knows what nominal means. Add that to the list of misunderstandings"
It's best to read the company newsflow. It saves making such ignorant, clueless and embarrassing statements. It would also help you understand the business.
If they declare a nominal dividend then it'll clearly be nearer to 0.1p than 1p.
Your lack of understanding their intention to pay a 'nominal dividend' explains why you're clueless in understanding the other bear points and red flags I've raised:
Questionable business model.
The CEO has huge 7m options.
CF dumped majority of his holding recently.
Growth has reduced significantly.
Lack of buying/holding by institutionS. Still no TR1s but institutionS.
Their clients largely paid for their new facility.
Huge shares on loan throughout 2023.
etc
Budget facts and reactions:
"The NHS in England will receive a £2.5 billion day-to-day funding boost for 2024/25 and £3.4 billion in capital investment over the forecast period to help unlock £35 billion in productivity savings over the next Parliament by harnessing new technology like AI and cutting admin workloads - part of landmark Public Sector Productivity Plan to deliver better public services."
https://www.gov.uk/government/news/chancellor-delivers-lower-taxes-more-investment-and-better-public-services-in-budget-for-long-term-growth
"Today’s announcement shows the government continues to back the NHS and the £2.45bn of extra funding for next year ensures we have the support we need to make continued progress on our key priorities for patients."
https://www.england.nhs.uk/2024/03/nhs-englands-response-to-the-budget/
They have stated they intend to pay a nominal dividend, which should be announced alongside fy2023 results.
Last year, the fy results were announced towards end of April, so these are some 6 weeks away. The ex-divi date will be several months away.
As they said the divi will be nominal, it's likely to be nearer to 0.1p than 1p.
From H1 2023:
Dividend
The Company intends to pay a nominal annual dividend going forward, details of which will be announced alongside publication of the Group's audited results for FY23.
https://polaris.brighterir.com/public/hvivo/news/rns/story/rgz9g3w/export
CF dumped majority of his holding. I think he would have waited had they intended to pay a proper divi soon.
The nominal divi payment will be several months away.
Questionable business model.
CEO has huge 7m options.
George
"Wouldn't surprise me if Private Equity are doing their due diligence right now, this can take 4 months or more"
Why would it take 4 months+++???
Apart from that, CF has dumped majority of his holding and some IIs have taken a tiny stakes.
CF would know if there was any interest already going on. If so, he wouldn't have been able to sell his shares and IIs wouldn't have been able to buy.
I doubt there's any organisation who were carrying out DD, whilst CF was dumping majority of his holding. Even if there was interest, the fact CF dumped majority of his holding, would have dissuaded many from having an interest during Feb.