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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Surface Transforms Plc | LSE:SCE | London | Ordinary Share | GB0002892528 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.165 | 10.00% | 1.815 | 16,020,843 | 16:40:09 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1.70 | 1.75 | 1.825 | 1.65 | 1.65 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Engineering Services | 5.12M | -4.78M | -0.0037 | -4.65 | 21.48M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:40:09 | UT | 5,000 | 1.815 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 25/7/2024 | 16:22 | UK RNS | Surface Transforms PLC Notification of Major Holdings |
| 23/7/2024 | 15:40 | UK RNS | Surface Transforms PLC Result of Annual General Meeting |
| 23/7/2024 | 07:00 | UK RNS | Surface Transforms PLC AGM Statement |
| 19/7/2024 | 16:48 | ALNC |  Surface Transforms backs sales outlook and hails output rise |
| 19/7/2024 | 11:25 | EQS | Surface Transforms PLC: Pre-Close Trading and Operational Update |
| 28/6/2024 | 20:38 | ALNC | IN BRIEF: Surface Transforms revenue up 81%, though net loss widens |
| 28/6/2024 | 07:00 | UK RNS | Surface Transforms PLC Year end results and Notice of AGM |
| 18/6/2024 | 13:26 | ALNC | IN BRIEF: Surface Transforms shares fall as audit delay continues |
| 18/6/2024 | 07:00 | UK RNS | Surface Transforms PLC FY23 Audit Update |
| 11/6/2024 | 17:00 | UK RNS | Surface Transforms PLC Notification of Major Holdings |
Surface Transforms (SCE) Share Charts1 Year Surface Transforms Chart |
|
1 Month Surface Transforms Chart |
Intraday Surface Transforms Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 26/7/2024 | 20:09 | Surface Transforms: is it time for blast-off. | 11,664 |
| 03/5/2024 | 22:15 | Surface Transforms 3m cash, 6m market cap on course for 2006 profitability | 101 |
| 17/8/2021 | 07:16 | New contract | - |
| 03/8/2017 | 10:17 | Surface Transforms Plc (SCE) Excited about performance car manufacturing deal | 5 |
| 03/3/2011 | 12:04 | Surface Transforms, is now the time to build a stake.. | 807 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-07-26 15:40:09 | 1.82 | 5,000 | 90.75 | UT |
| 2024-07-26 15:26:12 | 1.74 | 112,051 | 1,944.65 | O |
| 2024-07-26 14:50:04 | 1.75 | 8,595 | 149.98 | O |
| 2024-07-26 14:46:43 | 1.75 | 5,359 | 93.51 | O |
| 2024-07-26 14:44:59 | 1.75 | 94,212 | 1,644.00 | O |
| Top Posts |
|---|
Posted at 26/7/2024 09:20 by Surface Transforms Daily Update Surface Transforms Plc is listed in the Engineering Services sector of the London Stock Exchange with ticker SCE. The last closing price for Surface Transforms was 1.65p.Surface Transforms currently has 1,302,072,638 shares in issue. The market capitalisation of Surface Transforms is £22,395,649. Surface Transforms has a price to earnings ratio (PE ratio) of -4.65. This morning SCE shares opened at 1.65p |
Posted at 21/7/2024 12:13 by tomtrudgian I of course agree bagpuss67 that the £1m loan from Alliance Fund Managers (now Riverside Capital) certainly does exist. But no other loans. It was registered in March 21 as a formal charge, and capital and interest thereon is being paid off. £615k is outstanding.There are now three extra new charges, dated between Dec 23 and Jan 24 registered at Companies House against SCE by Liverpool City (LCR UDF), as you say. These three new charges are no longer co-funded by the EU’s ERDF. Only by Liverpool City. They carry a higher interest rate as you were the first to point out. There are over 100 pages of caveats and covenant requirements, including that of SEC providing 70 extra “high value” ramp up employees. None of these loans have been applied for or approved. A SCE capex loan application, then co-funded by the EU ERDF, was refused in 2023. There is no contractual obligation, as you describe, on socialist Liverpool City to approve any capex loan. Some may think that a successful application funded by Liverpool City alone is unlikely, and was one of the reasons for the auditor’s going concern qualification. That was the point I sought to make. I repeat, there is no longer a contractually existing capex loan. If, as we all hope, the increased disc production continues, then all changes and the share price may roar up. |
Posted at 19/7/2024 11:53 by cyberbub I think people are getting too worried about this. Almost any company in SCE's position would get such a qualification by their auditors. Essentially it's because they can't be 100% sure of not running out of cash and/or becoming insolvent. In reality I don't think this is likely, the company should be able to raise cash through further placings if they're desperate, albeit at sub-1p prices which would further hit investors. There are potless, revenue-less minnow companies in much worse positions than SCE, who still manage to raise cash. Auditors are forced to insert these comments firstly due to their professional requirements to alert investors, and secondly to cover their own a*ses.I'm encouraged that there don't appear to be any suspicious selling volumes in the last few days, implies that the SCE ship isn't leaking bad news.No advice intended of course, I haven't got a crystal ball. |
Posted at 16/7/2024 17:26 by soixanteneufdude Sorry for the patronising comment Boneyparte. It's probably not your fault that you're illiterate.You do know that even though you're 'special', nothing you rant about on here is going to have the slightest effect any decision that SCE makes or furthermore on the share price recovering to the levels that you shafted yourself with. I'd just leave if there if I were you :-D |
Posted at 15/7/2024 13:13 by tomtrudgian Following the UK leaving the EU, the 1918 European Union (withdrawal) Act, as amended in 2020, continued the possibility of the soft (7.25%) interest capex loan for SCE from the European Regional Development Fund (ERDF), but ending outside the EU on 31 Dec 23. SCE duly applied for a 1.4m capex loan in 2023 but was refused.This was due to: The expenditure being ordered without prior ERDF approval. Without satisfactory audited accounts. Without the supporting going concern or covenant support. Possibly other matters not disclosed to shareholders. The UK Ministry of Housing, Communities and Local Government however can continue support for loans only if already approved by ERDF. However, as bagpuss67 pointed out, at a much higher interest rate. The possibility of a loan from SEC’s Nat West bankers, the Liverpool City Urban Development Fund on its own, or from other sources, remains if SCE’s difficulties are temporary. |
Posted at 08/7/2024 09:39 by tomtrudgian No, amt. I would not dream of glad-handing the CEO at a PR factory tour! I was so angry at being mislead that I sold out (ie threw my toys out of my pram) for a loss of £104k.Are SEC incapable of reading contracts? Why did they lose £500k in early 23? Because they forgot that their electricity fixed price contract had ‘lapsed’ Why was their 2023 £1.4m capex loan application refused, when the interest was only 5.25% above base rate? Because they did not adhere to the required covenant terms, and the necessity of having capex expenditure pre-approved. The interest was raised to 11.45% in Dec 23. Shareholders were not informed at the time. It is not easy to believe that either the socialist city council or the EU would wish to, or be legally able to, waive the covenant or going concern clauses. Any good news? The share price, not SEC’s true value, may well increase with an optimistic trading update. |
Posted at 04/7/2024 16:09 by quemaster If someone was to try and takeover SCE the order book, the many years of getting a safety critical product accepted, the amount of money it has cost to get SCE to this point which doesn't include the initial development cost spent by ICI would become much more relevant.There is no other alternative for a competitor to get it's place in the market with a superior product with one competitor in a rapidly growing market without buying SCE, they know they would have to pay many multiples of today's valuation. Having SCE in the market has also helped Brembo, the OEMs have said that having only one supplier had restricted the adoption of ceramic brakes in the past so Brembo would be harming themselves by buying SCE. |
Posted at 01/7/2024 10:35 by geko5trade Yes shareholders will support if it were to happen. It’s the old Lucy/Charlie Brown scenario. I can’t believe you did it again and I can’t believe I fell for it...!The fact is next time around PI’s have a slightly different scenario. They had already been wiped out the first time so actually chose to invest from scratch. They didn’t all think of it that way because they were already so involved with the company. Really the choice was shall I put say £50k into SCE or put the money into bonds/ equity and get a much safer return. Next time their stock will probably still be worth something so it will really be a case of lose something significant without further investment. So my point is if they invested when they had all but lost everything they’ll definitely invest when they still have something to lose. Furthermore SH’s didn’t use the opportunity to force change at the top. They allowed this incompetent board to survive and get away with a load of flannel. Except one major shareholder that we know of who appears to have cut his losses. Having said all that I too have a bet on SCE making it. I see it as a coin toss. |
Posted at 05/6/2024 13:25 by foxbo I have 0.7% of the company's shares that are riding on them hitting these milestones! If they do there won't be a 1 in front of the share price. Until then it's a fair tussle between buyers and sellers. It would very interesting to know how many shares in the placing went to new shareholders, as these are more likely to be the real overhang in the short term, as existing shareholders need share price much higher to B/E. |
Posted at 25/5/2024 22:46 by bones At 1p valuation, you can say that Bagpuss, but I think that’s coming from a wrong angle. It’s the market that’s pricing the destruction at this point in time, but most of that is due to a total loss of sentiment (understandable). Not all that destruction need be permanent as it’s badly affected by sentiment.Using candlestick’s numbers, the dilution in shares is less than 4x (1,302m / 352m) from after the date the 10p raise was completed. Yet at that time, the market had settled around that price (ranging between 9-12p from memory) for a company with around £10m in the bank. That didn’t change until the 9th April update stating they had need for more funding. Going back further, the market price was sitting at around 25p-30p range before the November 23 statement slashing the estimated revenues from £13m to £8.6m, which culminated in a further 100m shares being issued at 10p. Before then it was known the cash levels were getting thin but hope was that revenues would kick in to see the cash flow through. Since that time we have had dilution of 25x in share price (25p to 1p) but only around 5x in issued shares (1,302m / 242m). To my mind, we remain in the same position operationally as we were before except the growth expectation is now shallower and there is additional structured debt to meet capex costs. Order book and customer demand remains the same. Cash is now secure again too. What has markedly changed is management’s credibility and that more than anything else is what has cratered the price. If, and it’s a big if at this stage, the management can demonstrate they are on top of the production curve and it becomes clear that cash will not be needed for emergency reasons, the change in sentiment factor should cause a big move upwards. We are now where we are, the past cannot be changed, and we have to continue to trust that the current operations are now in a better position with a lot of the major teething issues allegedly being resolved (chiefly yield rates). If you can live with that assumption, then as I see it we have a company that is now operationally more advanced than where it was last year yet the share price is only 4% of what it was then whilst issued shares are 5 or 6 times higher. This suggests a potential 5 bagger from here just to get back to the sentiment levels of last year (before the 10p raise came on the horizon, when the market was pricing at 25p). But, they have to get it done now! |
Posted at 23/5/2024 13:46 by foxbo Numbers I am working to: Share price before news leaked of emergency cash call was 4p, with 29% of this shareholding in play. The new 1p shares are 71%. The weighted average share price is therefore 1.87p.Using last placing and implied enterprise value, and using the new enlarged shares and cash = 3p LFL. |
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