Share Name Share Symbol Market Type Share ISIN Share Description
Fireangel Safety Technology Group Plc LSE:FA. London Ordinary Share GB0030508757 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 18.50 56,491 08:00:00
Bid Price Offer Price High Price Low Price Open Price
18.00 19.00 18.50 18.50 18.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 39.93 -9.34 -7.70 33
Last Trade Time Trade Type Trade Size Trade Price Currency
13:48:00 O 360,000 18.05 GBX

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Date Time Title Posts
18/6/202117:16FireAngel Safety Technology (formerly Sprue Aegis)563

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Fireangel Safety Technol... Daily Update: Fireangel Safety Technology Group Plc is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker FA.. The last closing price for Fireangel Safety Technol... was 18.50p.
Fireangel Safety Technology Group Plc has a 4 week average price of 18.50p and a 12 week average price of 14p.
The 1 year high share price is 29.20p while the 1 year low share price is currently 10.25p.
There are currently 181,066,637 shares in issue and the average daily traded volume is 73,705 shares. The market capitalisation of Fireangel Safety Technology Group Plc is £33,497,327.85.
jojaken: I was puzzled by the outcome of the share offer/placing. I applied for extra and was *really* scaled back. My broker couldn't really find out what was going on and then to find out yesterday that there was only a 60% take up. Bizarre.
masurenguy: FireAngel has been notified that yesterday John Conoley, Executive Chairman, and his wife purchased, in aggregate 127,485 ordinary shares of 2 pence each in the Company @20.48p per share.
masurenguy: FireAngel Safety descends after placing shares at a discount FireAngel Safety Technology Group descended 10% to 20.2p after announcing plans to raise £6.9mln via an open offer. The developer and supplier of home safety products is offering 10 open offer shares for every 33 existing ordinary shares at 18p each, which is a 20% discount to Thursday’s closing price. The AIM-listed firm has also raised £2.9mln via a firm placing and up to £6.9mln via a conditional placing, with proceeds to be used to fund research and development and shore up the balance sheet.
billybunter1970: I'm hoping for more good news in the next month to push the share price closer to 30p, this will trigger me to buy my offer shares, else I'm taking the dilution on the chin! It's about time 'loyal' shareholders got some upside from FA. It will be interesting to see if Newell take up the offer???
onehanded: year after year of loss, always after money from investors, when is it going to end. Share option obscene and all funded with PI money. In profit from 13p and time to move on. I think this will never make a profit, even with more contracts. Directors come and go with their share options and pay.
the big fella: Tis was - you can never say never with Fire Angel but I do get the feeling we had turned the corner in Q1 last year only for COVID to throw a spanner in the works. So everything is effectively delayed by a year. Just looking again at the German contract. It really is transformational for FA. Their industry does not stand still. With this deal the Germans are effectively paying them to generate their next generation platform, which at the end of it they are free to sell to whoever they like. In addition there is minimum unit sales as well which no doubt will flex up given they manage 12 million (yes 12 million) apartments globally.
harrogate: Maybe. Given that they held their % in the last 2 placings I had assumed they would want FA. They have no European distribution now and maybe they are waiting for FA to sort out all the historic issues and develop the tech before they pounce - pay a bit more for the derisked situation. Results should be imminent I would think and interesting to see current trading volumes and outlook
roughandtumbleone: So those that doubt this should pick up the phone and speak to Fire Angel. Steve Boggis their UK Sales Manager will verify all that's below.Fireangel are working on multiple contractors based on the same remit they've achieved success with the German energy and efficiency service provider and though this partnership is with a significant partner who's turnover was 317m for 6 months.They are working in conjunction with multiple housing associations and affordable house builders, particularly in light of Grenfell and issues for all Councils and Boroughs. However the big opportunity is multiple companies larger than the German property partner that based across Europe, Middle East, Far East and the Americas. They are taking the "blue print" hence the comment about the contract was transformational to the group.DYOR of course but this is a lion waiting to be woken.FireAngel (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces that it has signed a long term partnership agreement with a German energy and efficiency service provider for the real estate sector (the "Partner") to provide a fully funded research and development programme for a new generation smoke alarm. The Partner which was founded nearly 70 years ago provides services to approximately 12 million apartments worldwide and in its most recent financial period, being the six months ended 30 September 2020, had turnover of approximately EUR 317 million. Following a competitive tender process and almost 18 months' co-operation between the parties, including extensive customer-led research, FireAngel has agreed to provide the Partner with a new 10 year connected smoke alarm based upon FireAngel's Gen6 platform. This next generation alarm will offer additional, innovative safety and environmental features to meet the increased demands of landlords as well as tenants. Both parties will have the right to use any foreground IP resulting from development of the new smoke alarm.
microscope: According to the recent trading update results and outlook due 'late March'. So any day now, perhaps that explains recent nervousness in the share price
glasshalfull: Interesting take spannferkel FA. - FireAngel Safety Technology 🔥 I’ve mentioned previously that the shares have come off just a touch in the last 3 years. The shares hit 352p & m/cap c. £162m in Dec 2015. Fast forward to Friday, they closed at 23.5p mid & with 45,935,365 shares in issue this provides a m/cap of £10.8m. This represents a share price fall of (-93%) in 40 months. Quite an astonishing collapse! With a further 30,034,661 to be issued per the open offer this will results in a share count of 75,970,026 following the placing and a m/cap of £15.2m at the 20p placing price. Where will the share price go from here? Having considered the open offer, spoken at length with management & other significant FireAngel shareholders I believe it will be very supportive of FireAngels recovery & expedite the company’s return to profitability. That in turn should translate into a recovery in the share price (...typed with crossed fingers🤞 7995;). The placing provides a significant injection of cash which removes the uncertainty which has seen the shares continue their downward trajectory incessantly over recent months. The raise reassures customers, suppliers, HSBC & shareholders at a stroke with a recapitalised balance sheet...especially when the open offer is aligned to FireAngels stronger Q1 performance with sales ahead of budget. It’s important to consider the open offer in context of the current backdrop. * Refreshed Management - key hires by the company & a re-energised management team with the introduction of a new Chairman, Finance Director & experienced Operations Director in the last 4 months & the overall team now far better structured to deliver. * Legislative Drivers - beneficiaries of legislative drivers to growth and we are witnessing this in Scotland 🏴󠁧󠁢󠁳[7603;󠁴⏘31; , with the Housing Scotland Act making it mandatory to install interlinked smoke and heat alarms. I’ve commented on this in recent posts but yet again I believe that other countries will implement similar legislation in the medium term...particularly Scotland’s immediate neighbours...England 🏴󠁧󠁢󠁥[7614;󠁧⏘31; * New Markets/ Geographies - FireAngel also indicated winning new business in Singapore 🇸🇬 that make it mandatory for smoke alarms in all new residential homes HTTPS:// In parallel, development of their Connected Home proposition potentially opens up other markets such as the UAE 🇦🇪 where they have introduced legislation to connect ALL buildings to a centralised fire alarm receiving centre HTTPS:// There is also the potential for their recently developed Connected Home Hub, smart panel & modules to be introduced into other markets that are looking for an IoT solution. * Mears Partnership - they inked a significant partner agreement with giant Mears in Sep 2018 that is just coming on stream now. This agreement opens up several prospects for the company in becoming the preferred supplier of smoke, heat and CO alarms to Mears UK portfolio of 900,000 properties AND supplying Mears properties with their newly developed Connected Home system that I mentioned above. * German come-back - it’s the recovery in the important German 🇩🇪 market which could provide a significant uplift to FireAngel in the short/ medium term. This market previously provided FireAngel with material sales at strong margins and I’m hopeful that they will deliver significant growth in this market once again through extension of their distribution networks; benefit from the 10 year replacement cycle (FireAngels first products introduced in 2007-2009 into this market); retrofit legislation and adoption of their connected home technology. * Reorganisation, Restructure & no D.A. Fee - Ongoing cost-saving initiatives at FLEX and also announced a reorganisation & restructure programme that yielded £400k annualised savings. Remember they will also save on the annual £2.9m distribution agreement fee to Newall from this year & onwards. As spannferkel mentioned, “won't it make existing shares harder to sell immediately afterwards as everyone will already have bought en masse at 20p?” Well only EXISTING shareholders are entitled to subscribe for shares under the open offer, not all will take up their entitlement. However, any NEW investors considering the company as an investment or perhaps those with only a small existing holding which they wish to increase will be left with no other option than to buy in the market. Now that FireAngel have indicated a stronger performance & with a repaired b/s, this may be on a few radars as a recovery share. Worthwhile reminding that the open offer is fully underwritten. There will be 75,970,026 shares in issue following the placing of 30m shares which is fully subscribed by Downing & a further unnamed investor. The details of the offer indicate Downing have agreed to subscribe for 17,750,000 Placing Shares. Directors (mainly Nick Rutter, Founder) are also committed to taking 900,000. As Downing currently hold 4,930,874 shares they are entitled to subscribe on the same 17 for 26 basis as other existing shareholders for 3,224,033 would only achieve a subscription of 17,750,000 shares under clawback arrangements should existing holders FAIL to take up their entitlement. It’s too early to speculate what may/ may not happen via the open offer, but I hold >1% of FireAngel equity and will be taking up my entitlement in FULL and I know several other investors that also own >1% & have intimated that they also intend to take up their entitlement in full. So, we could have an interesting aftermarket as there is absolutely no froth in the share price and I suspect only a small amount of retail investors were left in the stock when the open offer & results were announced last week. Summary I never thought the shares would collapse to the current £10.8m m/cap and was too early in re-entering the stock in Summer/ Autumn 2018...far too early! I keep coming back to the historic earnings of the company which suggest they should achieve £5m PBT as a baseline by increasing GM to 30-40% range, of course, with a fair wind from the important German market..and that’s before any contribution from their Connected Home proposition via Mears or any other market opportunities. I happen to think they now have the right ingredients to potentially multi-bag from here now. For me it’s all about selling and improving margins. Sounds simple!!! Disclosure As intimated in my summary above, I hold >1% of equity here & will hold >1% following the open offer as I’ll be taking it up in full and will therefore not suffer any dilution. Please remember, as usual, I’m talking my own book. Kind regards, GHF
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