Share Name Share Symbol Market Type Share ISIN Share Description
Byotrol Plc LSE:BYOT London Ordinary Share GB00B0999995 ORDS 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.10 -3.92% 2.45 3,517 09:00:07
Bid Price Offer Price High Price Low Price Open Price
2.20 2.70 2.55 2.45 2.55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 11.21 1.04 0.20 12.3 11
Last Trade Time Trade Type Trade Size Trade Price Currency
08:02:45 O 3,305 2.40 GBX

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Date Time Title Posts
13/4/202021:14Byotrol (BYOT) One to Watch on Wednesday 2
27/2/201619:04Byotrol:::::::::Cleaning Up45
03/1/201309:22Byotrol - ready to tap a $5.6billion market?3,489

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Byotrol (BYOT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-07-06 14:21:562.4010,000240.00O
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Byotrol Daily Update: Byotrol Plc is listed in the Chemicals sector of the London Stock Exchange with ticker BYOT. The last closing price for Byotrol was 2.55p.
Byotrol Plc has a 4 week average price of 2.35p and a 12 week average price of 2.35p.
The 1 year high share price is 6.25p while the 1 year low share price is currently 2.35p.
There are currently 453,890,405 shares in issue and the average daily traded volume is 50,639 shares. The market capitalisation of Byotrol Plc is £11,120,314.92.
1gw: football - just to pick you up on your finnCap assertions and questions. As I understand it finnCap still have an 11p target price, as of their 2nd March morning note. This is based on their stated belief in the value of the recurring royalty streams, in particular Actizone and byotrol24. You can read back many years in finnCap notes and see references to the estimated value of the Actizone royalty (commission) stream in particular (and to start with those values were explicitly excluding any US sales). No-one (outside those covered by NDAs) should know if their estimates were reasonable in terms of the assumed royalty terms, but last year for the first time we had a "guesstimate" from byotrol of the royalty that might be due from Solvay for the year. While byotrol's reference to "small" in their 2nd March TU suggests they may have come in below the earlier £250k (from memory) guesstimate, the £250k gives a glimpse of the potential that byotrol think there is from this stream, given Solvay had only just started rolling it out in Europe and haven't yet rolled it out in the US. So from a DCF-based valuation perspective, the ups and downs of the product sales business and whether a particular new IP deal comes into last year or this year is fairly minor compared to whether the existing royalty/commission deals pay out as finnCap believe they might. And on cash, they said end-year (i.e. 31st March 2022) cash of (at least) £1m without any new IP deals. Given the potential byotrol apparently sees in the Actizone deal, the very worst thing byotrol could do perhaps is run out of cash before the value of that royalty stream is more visible, and therefore more monetisable. They had a bad 1H last year on product sales and they can't necessarily rule out being cashflow negative in any particular period over the next year or two, particularly as they want to be able to invest for growth. So the last thing I would have thought they should be doing is handing back cash to shareholders, if this could jeopardise the monetisation of the major existing IP deals or the near-term growth path.
football: Quick questions in the last trading update did it say we have about 1.9 million in cashIf so why not use a part of it to do a small share buyback which will make the PE look better in the end the year figures and if we put the shares into Treasury they can use them for Director options in the future rather than issuing new shares. We have also seemingly have veered away from a B2B business and now are selling to the general public and the pet market but we have no visible advertising or budget to attract new customers to our products DT keeps on about IP deals but it's been almost a year since David talked about these and if none materialised soon as he misled the market to prop up the share price in deals that were never going to happen? Fincapp have a price target of 11p(edit) How can they work out the true valuation of company if everything in the results and numbers Are covered by nondisclosure agreements surely this should be some timescale on our long they last so we can get a proper reflection of what they true figures are. And lastly if you can get a trading update out six weeks early why are results taking longer than usual? should be no longer than three months for any company Unless we are in takeover talks or being bought/Going Private so all the above doesn't apply. Still think DT is hiding a profit warning And having something like this is never can help with the share price Spread: 0.30 (13.64%) You're going to need about 17% rise just to Breakeven GLA
football: I've sent a email asking if we are in a closed period to Byotrol and if so when did it start and when will it finish. if we are in a closed period won't ask again until it is finished but if we are NOT in a closed period when i will carry on saying why are they not buying. Anyone think Byotrol should be doing a share buy back at these low prices and putting them into treasury? Has the share price is almost down 60% this year.
sikhthetech: microscope, "Then again I wasn't saying this was a buy at 6p 1gw, or selling TLY at 10p..... :)." It wasn't 6p, 1gw was ramping Byot at 10p, stating Finncap are being conservative.. Also with his business model showing £17m annual revenues, which was conclusively proven to be complete BS... All the while I warned of Jam tomorrow, other companies would adapt etc... Byot share price fall was expected. Lack of volume and no news so far, so nothing to back the recent share price rise.. Might be worth another punt... Best to trade and not get caught again... ;-) sikhthetech - 04 May 2021 - 21:44:20 - 8153 of 9727 BYOTROL-CAN DELIVER AMAZING Milesy, Well 1gw did say to correct him if it is inaccurate.. Maybe he likes jam, which is why he keeps posting about jam tomorrow... Maybe time to ramp the online boots sales again... ;-) 1gw30 Sep '20 - 20:02 - 6961 of 8034 <...> So on the product sales we seem to be running pretty well for the £12m revenue (which after all was just a run-rate calculation as I said), given 2H tends to be the bigger half anyway. finnCap are of course trying to be conservative about 2H, but if coronavirus cases continue to grow why wouldn't the sales continue at the £1m/month sort of level, especially if the supply chain is working better? <...> Happy to be corrected on any of this if you think it is inaccurate somehow. Did you even watch the presentation?
1gw: football, I do not think it is fair to accuse directors of lack of conviction on buying and holding shares. I have previously posted the non-executive chairman's history (see below). David Traynor has been a holder for even longer, as he started in 2013 when he exchanged his shares in Byotrol Consumer Products (of which he was MD) for shares in Byotrol (of which he became CEO) when Byotrol bought out the 50% share in BCP owned by DT and others. Again, as far as I can see, DT's holding has been built up as follows: 4.3m acquired at 6.25p/share from BCP buyout Oct 2013 0.4m bought at 3.00p/share in subscription Jul 2014 0.2m bought at 3.25p/share in subscription Aug 2015 4.8m bought at 3.10p/share in market purchase Jan 2018 0.2m bought at 4.29p/share in market purchase Dec 2021 That's a total of 9.9m shares at an average price of around 4.5p/share. Neither CEO nor chairman chose to sell shares when the price spiked following the Midas tip. They did exercise some options & sell the resulting shares in April 2021, as did others. Nearly all of the options exercised at this time were due to expire in 2021. If you do the numbers on them, I think you'll find that they weren't particularly significant in terms of likely post-tax profit (chairman's had exercise price of 4.125p and were sold at 6.92p I think from a previous post of mine). -------------------------------------------------------- 1gw - 28 Apr 2021 - 13:09:11 - 8117 of 9600 As far as I can see, the chairman's 9m holding was built up as follows: 0.3m Holding on arrival as chairman in Feb 2017 0.8m Bought at 4.2p/share Feb 2017 3.0m Bought at 4.0p/share in placing/open offer August 2017 0.5m Bought at 3.7p/share in August 2018 1.0m Bought at 2.3p/share in November 2018 2.4m Bought at 1.5p/share in December 2018 1.0m Bought at 1.8p/share in January 2020 Meaning while chairman he has paid around £250k to buy 8.7m shares. His basic salary/fees in FY20, as the non-exec chairman of byotrol, was £40k. That seems pretty reasonable commitment to the company to me.
1gw: I think the answer to that, loaf, is that Solvay know were they to approach byotrol, byotrol would want fair value for the royalty stream. And if that's not 5/6p then that's not a credible acquisition price. It's a bit like biotechs trading below cash value - any potential acquirer knows that the apparent arbitrage almost certainly can't be realised because once it makes an acquisition approach the target would insist on full value for the easy-to-value parts of the business (cash in a biotech, or Solvay royalty stream with byotrol). There might even be a negative tax implication to buying out the royalty. While Solvay and byotrol are separate companies, Solvay gets tax relief on the royalty payments I imagine, and byotrol gets to use its accumulated tax losses to offset at least some of the tax it would otherwise have to pay. So there's a (possible) net tax benefit in the arrangement. But if Solvay were to buy byotrol, it might have to disregard the royalty for tax purposes. What might be possible one day is to take the royalty stream to the bank. As the uncertainty over the stream reduces, as Actizone gets rolled out to more and more markets, it might be possible to sell the rights to some or all of the royalty for something close to "fair value". At the moment I would have thought the volume risk is too great - byotrol would naturally be more optimistic about likely volumes than any financial buyer and that would make it difficult to agree terms - but once Actizone establishes itself (or fails) in the US then I think it would be more possible.
1gw: A 1-year or 3-month comparison of byot share price against the US biotech index XBI shows a remarkably (at least visually, to me) similar trend.
sikhthetech: 1gw, "Even without a new deal, before xmas we should have the interims which will be an opportunity " You have been repeatedly wrong, so I'd take your current speculation with a massive pinch of salt. Given the recent newsflow, I'd expect a similar disappointment to last year. Current share price 5.15p sikhthetech - 07 Jan 2021 - 20:25:26 - 7347 of 9013 BYOTROL-CAN DELIVER AMAZING Milesy, "Mr Market is clearly happy " Strange because that's not the graph and share price history shows. From mid-Feb - the share price rose on the expectation that Byot will perform well and seize the huge opportunity presented to them on a plate. March to summer - monthly TU stating record sales, £1m++ per month run rate and selling as much as they can make. 24/25 Aug - peaked, Newlands reduced to below 3% - The Newlands increased to 3.95% in July and then reduced back down below 3% a month later. Looks like they weren't happy End Sept - dropped back from around 8.5p after company didn't release audit accounts on time, again!! 13th Oct - drifted back from 7.5p to 5.8p after fy2020 audit results finally published. 7th Dec - interims 6.2p to 7.1p traded with that range and still is. Now just jam tomorrow. It's nice to have an investment decision proven right so conclusively BY EVENTS. READ THE COMPANY NEWSFLOW. It's all there in black and white
1gw: Wisecat/ghost – so this raises the topic of how should a company (and/or its shareholders) best engage potential and existing retail shareholders? This is a conversation I have been trying to have with byotrol, and it has also come up recently with 2 other small companies I am invested in. Enteq Technologies (NTQ) is an £11m market cap oil services company. I went to the AGM on 23rd September and was the only shareholder who turned up (other than those there in an official capacity). I am a long-term shareholder and have previously talked to them about the difficulty of retail shareholders getting information on the company – their broker used to be Investec and their reports did not get into the public domain, so it was difficult for retail investors to understand what “market expectations” were. Enteq have changed their broker to finnCap, meaning reports are easily accessible, and have also engaged with Proactive Investors, and more recently IMC (Investor Meet Company). However, their bulletin boards remain even more deserted than byotrol’s, liquidity is very low and they wonder what they have to do to attract retail interest (they asked me for my views at the AGM). Zinc Media (ZIN) is a £10m market cap media company (TV/content creation). They also use IMC and in their latest presentation, yesterday, talked about the low liquidity in their shares and their frustration at not being able to engage more effectively with retail investors. Their investor bulletin boards are also extremely quiet, but like byotrol there are 1 or 2 posters who clearly dislike the company and post negatively. Zinc expressed their annoyance with posts that keep suggesting they are running out of cash despite evidence provided by the company to the contrary. Apart from being small and having poor share liquidity, what these 2 companies and byotrol have in common is that they are all turnaround plays viewed over a long-enough timeframe. This means their shareprices have been much higher and there are clearly retail investors who have been burnt in the past. On byotrol and Zinc, some of them appear still to hold a grudge and to be out for “revenge”;, or more charitably to warn other investors, by posting negatively on the bulletin boards. Where NTQ and ZIN differ from byotrol though is that both NTQ and ZIN have a relatively large supportive institutional base of shareholders, so to some extent they don’t “need” retail shareholders in quite the same way that byotrol does. They also I think each have a business that is easier to understand. So what’s the answer? My comment to Enteq was that I was struggling to suggest an effective answer, since fairly clearly, Proactive and finnCap hadn’t changed the dynamic noticeably. But I thought IMC was a good platform because of the Q&A facility, if they could attract retail investors to listen to the IMC sessions in the first place – and that will in Enteq’s case probably be event-driven around their results and some new technology they are about to roll out. For byotrol, I have taken the view that the company has decided it doesn’t really see retail investor communication as a priority (given its limited resources) and so by posting what I believe to be the company story and my reasons for being invested on advfn I hope to give any passing readers at least a starting point for considering the company. However, that comes with the very obvious downside of giving the grudge-holders (and my personal troll) an opportunity to throw mud. I have argued that byotrol should be presenting at least quarterly on IMC, not necessarily to present new information but just to keep the investment case fresh in people’s minds. It is a competitive world out there for retail investor interest and some companies (Open Orphan [ORPH] being a good example among my holdings) pitch frequently and aggressively. I believe that byotrol has squandered the gift it was given of relatively big retail investor interest following the Midas tip by not engaging effectively with those retail investors. I understand the resource argument, but had they made a bit more effort to engage (and continue to engage) their new shareholder base I think they could have retained much more of it and as a result the shareprice would now be higher, with the resultant implications for looking at paper-funded acquisitions. I am very interested to know how many actually watched the byotrol IMC session – because it doesn’t really matter how good the presentation is if hardly anyone is watching it. I am disappointed that despite saying in the results that they would make retail presentations post results on “familiar online platforms” they have only presented on IMC, as far as I can see. So we are where we are. Given FY23 appears likely to be the year in which material Solvay (and maybe other) royalty starts to appear, and FY22 performance now looks relatively secure following the IRI deal, maybe the right answer is for the company and bulletin board posters alike just to back off and wait for results to demonstrate the value in the company? Or alternatively is now the time to ramp up communication given the greater visibility that there is in the business?
football: Daresbury-based hygiene group Byotrol has completed the sale in the Americas of its US Environmental Protection Agency (EPA) registered, long lasting antimicrobial surface spray to its existing licensee, Integrated Resources Inc. The agreement involves a sale by Byotrol to IRI of all rights to the formulation in the Americas, including registrations and patent rights, in return for: Cash payments amounting to $1.4m in total, paid over a maximum of two years, with the first payment already made. For US regulatory reasons, Byotrol will remain formal legal owner of the formulation until the payments are complete, although substantially all economic risks and rewards have now been transferred to IRI Three years of royalty on all IRI sales; Further payments to Byotrol should IRI onward sell the formulation within three years; and Byotrol continuing to act as the preferred technical services provider to IRI and its customers on the formulation, paid-for by IRI on a case-by-case basis. Simultaneous with this sale, Byotrol has entered into a preliminary three-way agreement with IRI and a significant US distribution company to register with EPA and then sell the formulation into US professional markets. Should formal registration be achieved, sales by IRI to the distribution company will accrue additional royalties to Byotrol. Byotrol retains all ownership and rights over the formulation outside the Americas. The agreement continues the company’s strategy to cease its day-to-day operations in the US, while maintaining rights to share in the success of its partners and licensees. Byotrol chief executive, David Traynor, said: “Byotrol24 is going to a very good home in Integrated Resources, and we look forward to sharing in their continuing successes in the Americas. “We are particularly pleased with the new relationships IRI has been building – and that we have been helpful in securing – in the last 18 months and we expect them to accelerate progress now, particularly in the very large US markets, helping to underpin management’s expectations for the current and next financial year. HTtps://
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