Proventec Share Discussion Threads

[sammu] 10/3/2006 14:13

Thanks a lot jon.

Sam

[fse] 09/3/2006 22:42

On the surface it looked OK to me or at least it certainly did not offer any concerns. Bit of a non event really although better terms longer time period etc.. cant be bad ?

[mach10] 09/3/2006 22:37

I'm surprised at the slight dip today. I see this RNS as quite positive. We have the ever recurring 14p which may be established as a floor. Remember it occurred in the placing too. I like the multiples mentioned above especially series four.I guess the only downside is that there can be a conversion into 14p shares at ANY time. However apart from that this should eliminate cash calls from Proventec for six years unless there is explosive growth.
I do like this bit of insurance though. "Repayment of the principal and up to one year's interest under the Loan Note are guaranteed by InnoConcepts NV, a Dutch quoted company which owns InnoCleaning Concepts Holding BV ("ICH"), a member of the Concert Party. The guarantee will remain in place until Proventec's share price is 21 pence." Well worth paying a premium for.
Finally I think this share has legs because it will surely get a boost from the flotation of keronite soon and the results of the cleaning trial as mentioned in citywire. Well worth holding IMO!

[jonwig] 09/3/2006 20:23

Here you are, Sam:

The Warrants shall:
(a) give warrant holders the right to subscribe in cash payable on allotment of:

(i) up to 28,125,000 Ordinary Shares at a price per share of 14 pence (Series 1 Warrants)
(ii) up to 28,125,000 Ordinary Shares at a price per share of 28 pence (Series 2 Warrants)
(iii) up to 28,125,000 Ordinary Shares at a price per share of 42 pence (Series 3 Warrants)
(iv) up to 28,125,000 Ordinary Shares at a price per share of 56 pence (Series 4 Warrants);

(b) be transferable;

(c) be for a period of nine years from the date of issue of the Warrants.

[sammu] 09/3/2006 20:04

The cashflow implications to this deal are clearly good news.

"Twenty-five per cent. of the proceeds from the sale of the Loan Note have been
loaned to Proventec by ICH and will, along with the rolled up interest thereon,
be capitalised between January 2007 and January 2008 on request by the Company
by the exercise of Series 1 Warrants, which were issued by the Company in August
2005. This loan of #2,625,000 will be used to accelerate the growth of the
Proventec Group."

Anybody know what the terms of the Series 1 Warrents are? I can't find the details in the RNS re the acquisition last year. It says the details are in the circular, which I don't have.

Any help appreciated.

Sam

[jonwig] 09/3/2006 12:10

This loan note business and the need for periodic repayments is the main reason (by far) why I kept away from this company post-FLT: there would have been little prospect of bottom-line earnings whilst it was in place, and possibly cashflow problems on top..
Now that they've pushed the repayment to the end, the thought must be that they'll book enough from floatations (Keronite, Biocote, even Ultra Motor) to pay off the loan that way.
But ... there will maybe be less urgency about doing the IPOs?

By the way, "Keronite" now has a Wikipedia entry:

[orange1] 09/3/2006 09:15

News today regarding the company's 8.5% fixed rate convertible loan note issued in August 2005 as consideration for the acquisition of InnoCleaning:

* the loan note has been sold to new international investors (who strenghten the Company's funding base).

* the terms of the loan note have been amended to change from a seven-year amortising loan instrument to a single bullet repayment with premium in December 2012

* this has immediate cashflow benefits of #1,500,000 per annum

* there is an immediate loan of #2,625,000 from the former owners of InnoCleaning to enhance cashflow and accelerate growth of the Proventec Group

[fse] 27/2/2006 02:01

The thing with Ultra motor is that they have probably blown the chance to be first to market with an expensive product deciding instead that this is an inevitable mass market and therefore competing in price and technology.
Looks to me that they might have read this one very nicely.
Exciting news ?

[wowy] 26/2/2006 22:04

Not to forget an old friend - Ultra Motor

Dated 24th Feb


Now, you can have UK's high volume electronic motors for bicycles and scooters
By Sandeep Datta , New Delhi : With the Indian economy booming, an increased demand for two-wheeler vehicles is expected by the manufacturers of two-wheelers in India.

With the anticipated growth in the market for two-wheeler vehicles, Ultra Motor Company limited (UMC), a United Kingdom-based company, has come up with Ultra-Motors, high volume electronic motors for bicycles and scooters which was displayed in the Capital on Wednesday.

Ultra Motors also plans to design and develop motors for the electric moped, light commercials like rickshaw, and others like wheelchair and electric or hybrid car application. These will go along with the development and launch of Indian e-bike and e-scooter in other South East Asian Markets.

The launching of Ultra Motors was attended by some distinguished personalities which included the likes of United Kingdom's Minister for Science and Innovation Lord Sainsbury, who said that Ultra Motors would suit the Indian markets and condition.

"The exciting thing about this product is it is not a part of the technology but technology itself which would be in focus, and

this is what the product of this market needs. So it meets the needs. It had the advantage of controlling pollution but also

it's going to be available at very good price for the people in this market," said Sainsbury The company is optimistic about the market opportunity in the country and expecting fast growth in the sector.

"We have identified that India is the most attractive market for this technology and this segment now. The technology is available, the economics are obvious and the market opportunity in India is astonishing," said Paul Dyson, Chief Executive Officer (CEO), Ultra Motors Company.

In India, in 2004, seven million two wheelers were sold and the motorcycle segment is growing at an annual rate of 18 per cent.

Therefore, UMC identifies India as the country to look at for tremendous growth in the local Electronic Vehicles industry.

It uses two and three wheel vehicles as the primary mode of transportation.

[wowy] 16/2/2006 18:15

with a good head of 'steam' we could 'clean' up......lol

[kallista] 16/2/2006 17:45

I'm still here too.

Hoping this might be due to a tip in tomorrow's IC, the price always goes up the day before.

Better still, a juicy contract with the NHS to coat everything with Biocote and clean up the hospitals.

[wowy] 16/2/2006 17:10

Still here from FLT days and with virtually all my holding, was almost 1% of FLT (now diluted) but still a nice rise today, but I feel we have marched up this hill before, maybe this time it will hold.

As with all my main investments, its a long term hold, so if it does not hold this time I will wait for the next, looking for 24p+ in 2008.

[treez] 16/2/2006 17:08

I'm still here, holding and watching so that makes at least four of us !

[grgkecer] 16/2/2006 16:03

The website still seems to be and not the one given above. But it doesn't help to explain the rise.

[fse] 16/2/2006 15:41

that was my concern .... probably a synergy with the cleaning company & biocote thats actually got some legs to it. Thats why I was tempted to stick with them.

[ndoody] 16/2/2006 15:37

Ive still some shares, about 800 quid I think? I think its the lack of knowing what is exactly driving up the share price which makes the lack of conversation?

[fse] 16/2/2006 15:19

Am I the only one invested in this company ?!
or is there another thread ?

[fse] 01/2/2006 19:15

Beginning to feel happier I held onto these from FLT days.

[orange1] 01/2/2006 09:02

grgkecer
You are right - I have amended my original post.

[kallista] 01/2/2006 08:19

Quite an explosive start. Number 6 on the leader board as I type.

[grgkecer] 01/2/2006 07:41

Two of the existing businesses Firestop and Biocote are about to be rolled into Osprey and Magma respectively.
Isn't that the wrong way round?

[mach10] 31/1/2006 19:04

where did you hear that Katie? Have you turned bullish? Nice rise today!

[katylied] 31/1/2006 09:07

Do I recall correctly - That PROV shareholders were
to be offered shares in the Keronite flotation?...

[kallista] 31/1/2006 09:03

Something going on when peeps are paying over the offer to get thir hands on a few shares.