Member Info for stt1

Last year the TU was on 29th Jan, so we could get one this week.

Cash will be important. Without contracts, they are likely to need a placing.

They have to pay project costs, lease costs on the new larger facility.

The new facility was largely paid for by clients, which I maintain is a red flag.

The business model is questionable.

I wonder if the usual clueless posters will be out this week.

Where is Hallsworthy, who got this completely wrong and was ramping these at c30p...

Brokers reduce targets compared to 2-3 months ago.

Berenberg unchanged at 128p (was 135p Nov 2025)

Citigroup 143p to 137p (was 145p Oct 2025)

https://investing.thisismoney.co.uk/broker-views/TW.

Point72 up 0.29% to 0.8%

Marshall Wallace up 0.03% to 0.52%

Total disclosed shorts 3.4%

https://shorttracker.co.uk/company/GB0008782301/

TW's TU was bad. A profit warning.

Margins squeezed as costs increase.

Housing market remains uncertain.

Affordability still a major problem, especially FTB. FTBs are crucial for a smooth housing chain.

Cash declining. They do have fire safety issues to resolve but the divi needs to reflect earnings. Given the uncertain housing market they should be conserving cash.

The only reason they didn't crash further is because the UK economy grew more than expected.

Note other HBs sp went up, whereas TW is virtually unchanged.

Crossley

"After all, they are taking a large amount of cash out of the business to return to shareholders each year"

That's exactly my point. They are taking large amounts of cash out of the business, based on NAV and not on their earnings, as is the norm.

Unless the housing market picks up then there's a higher risk of them having to cut their divi or resort to using debt/placing.

I see that as a flawed policy.

VikR

"After a massive eventful year in 2025 this has now paved the way for a baseline to the upside."

The shares were pumped and have now retreated back to around 12p-13p as I predicted they would. I traded these multiple times during 2025 and gained a profit by not listening to the pump/dump gang.

The current sp of 13p doesn't mean there is a new baseline as that depends on cash, placing and contracts. Contracts are NOT guaranteed. Cash would be declining. Placing is likely over coming months unless they gain contracts soon.

Rampers were saying contract will be signed in December when the company had their demo. What happened?? As per my assertion, IF contracts are signed, it could take months.

The company had only £250k as of Sept. That's not much cash to last them for this year.

I expect a placing over the coming months.

GTC,

"Also remember just landed 2 new hires and recruiting 2 more, the underlying business clearly strengthening as they’re disciplined in cost control. "

Those hires came out of the grant they received didn't they? It's nothing to do with their cash balance and cost control.

That grant is limited. Unless they sign contracts they will need a placing.

August,

"This isn't inevitable though is it?"

No, that's why I said 'unless market improves', which isn't inevitable either.

Yes, the policy is known and thus the share price is being held up by the dividend. Compare the sp reaction to other HBs, who base it on earnings and NOT NAV, TW has underperformed them:

PSN 1358.50 +13.4%

VTY 641.40 +12.13%

BWY 2744 +10.1%

TW -11.86%

BTRW 381.1 -13.41%

Crst 143.5 -15.04%

The problem I see is if TW cut their divi then the sp will crash, as income investors will dump them. If they don't cut their divi then cash will continue to decline fast and there's a higher risk they will need to use their debt facility, UNLESS housing market improves significantly.

My assertion has been and still remains that TW's divi policy is flawed.

Companies normally pay out of earnings but TW is paying c7.5% of NAV.

I think unless property market improves, TWs cash will decline faster. They will then have to use their debt facility and/or raise funds via a placing.

As can be seen from the sp reaction, the market seems to think the same.

TW sp lost 11.96% for 2025.

The sp has continued to perform poorly since covid.

Previous years sp at year end.

2025: 107.50 -11.96%

2024: 122.10,

2023: 147.05,

2022: 101.65,

2021: 175.20

2020: 165.80

2019: 193.40

2015: 203p

2005: 380p

Bar 2022, the sp finished lower than any other year over the past 6, 10, 15 years.

Gtc

"£1m in the optimal sales pipeline "

£1m sales pipeline by when and over what period of time? How much profit, cash generation, given they are short of cash?

MMHater

"Sti must feel a right idiot and loser today. "

you posted this when the sp was 19p....

Have you looked in the mirror???...

There you go, fell back, as predicted.

Was great to trade again, whilst maintaining that they need funding and were pumped/dumped.

There you go,

a year ago in this message stream I posted "I think they will warn on 2025 revenues and the sp will be closer to 10p than 30p."

Over the year, the sp crashed to below my 10p target. I took a punt LAST WEEK and maintain my 10p target.

I also maintain and have been consistent with my opinions:

1) unless they sign significant contracts they will need a placing over the coming months.

2) the business model is questionable.

3) clients largely paying for the new facility is a red flag.

Newsflow continues as expected.

There you go, sell at c26p, buy at c4.5p whilst maintaining the realistic posts, red flags...

Nice paper profit so far...

The newsflow here has been as expected....

:-)

My post from last week, 11th Dec 16.55:

"I've taken a punt on the basis the rampers are buying back in. Only a punt at this stage, as I maintain they are likely to need a placing over the coming months unless they get more contracts soon."

Jolifant,

"Stt1 are you still invested here or did you sell all your ‘punt’ money last week at 17p?"

I sold some of my punt money. These are still being pumped and dumped, look at all the trader talk, hundreds of trades to push the sp higher.

There aren't hundreds of PIs.

Where's all the significant buying by IIs?????

Autumn Budget dampens UK housing market, agents warn of prolonged slump

"The survey shows continued declines across agreed sales, buyer enquiries, and new instructions, with London house prices particularly affected by the Budget’s tax measures. New buyer enquiries in November recorded a net balance of -32%, down from -24% in October, marking the weakest reading since late 2023. Agreed sales posted a net balance of -23%, largely unchanged from last month’s -24%, underscoring a persistent downward trend in sales activity."

"Respondents also increasingly report that the number of market appraisals being undertaken is running below levels seen twelve months ago, with the net balance slipping to -40% (falling further into negative territory for the fourth consecutive month). This suggests the pipeline for new instructions is likely to remain subdued in the near term."

"In the lettings market, the net balance for landlord instructions remains deeply negative at -39%, with respondents pointing to a new income tax on property announced in the Budget as a factor that could further reduce new landlord instructions."

https://propertyindustryeye.com/autumn-budget-dampens-uk-housing-market-agents-warn-of-prolonged-slump/

Rocka

"continuously posting on here certainly won’t make him any money."

So, you believe only ramping posts, which entice gullible posters in, should be posted. Just so, you can make money.

Really?

Pompal

"Please could you give your calculations for this, based on current monthly cash burn - which you obviously know?"

Read the accounts. Previous years, they had annual c£40m project and admin costs, leases, new facility etc.

They haven't signed any significant contracts for months and months.

Some of those project costs will still exist during the past year, as they were still completing projects. The admin cost/lease /running costs of the huge new facility will still be there.

Most of the cash they had at H1 end will be gone.

Without significant contracts, they are likely to need a placing soon.

The red flag is the new facility was paid for largely by clients.

I've consistently maintained that the business model is questionable.

I've consistently maintained that the new facility largely paid for by clients is a huge red flag.

Rocka

"6p? Sti so is now almost 20p , you are making yourself look very silly."

The same was being said on HVO, Byot, Trmr, Rthm, Polb... all crashed, the pump/dump gang disappeared.

You should read up about .com boom bust or the ad tech boom bust, which I warned about only 3-4 years ago

Don't take my word for it, check out trmr. I warned of the ad tech boom bust, I was ridiculed by the pump/dump gang.

The sp crashed from c850p to c350p today. Same at byot, polb, hvo, rthm...

Anonymous rampers buying in then suggesting something is good, some gullible posters will buy in. That's how a pump and dump works.

The trick is to trade and get out before the pump/dump gang.

Don't take my word for it, check out my posting history.

Best to wait for company newsflow, look for significant contracts, without which they will need a placing, a discounted one.

Best to trade hyped shares and not get caught out. If the shares crash then you won't be able to sell quick enough, the shares are illiquid and trade on AIM.