Hardide Share Discussion Threads

[rogerramjet] 16/11/2017 15:33

The issued share list on the Hardide Web site is out of date. I am expecting Hardide to bring this list up to date. Not sure why they haven't already. Not sure of their obligation to do so. Not that it will be significantly different to change the liquidity. RegardsRRJ

[nick100] 16/11/2017 14:14

Out of this 34.9% there are a lot of shareholders that have a large holding,which make this share not so liquid.

[ny boy] 16/11/2017 14:09

meijiman... from their web site

issued shares
Number of shares in issue 1,534,906,304
Number of shares not in public hands 34.9%


Major Shareholders
R Boyce & Associates 17.4%
A Badenoch & Associates 16.2%
Hargreave Hale Nominees Ltd 13.0%
Amati VCT plc 9.4%
Hargreave Hale AIM VCT plc 6.3%
Unicorn AIM VCT plc 4.1%
Mr T Simpkin 4.0%
Mr WSC Richards OBE 3.7%
Lobbenberg Family 3.1%

Hope it helps clarity the situation.

[dozey3] 09/11/2017 12:59

Market cap £30.3m today according to Sharepad, so not completely out of the question. Time they consolidated 1 for 100 to make it sensible and hopefully reduce spread.

[meijiman] 09/11/2017 11:52

Yes would be great if Bodycote saw this as a tasty morsel.3p should do it. Trouble is there are 85bn shares in issue or is it 850bn-I lost count some years ago.

[dozey3] 09/11/2017 10:47

Fantastic article Nick. Let’s hope it is read by the movers and shakers throughout the engineering spectrum. See bodycote was mentioned; HDD could be a tasty morsel for them.
On a more sober note, I thought the EEC had extended the deadline for banning hard chrome which was originally September this year as mentioned in the article. Hope I’m wrong.

[nick100] 01/11/2017 19:24

Hardide Plc Q&A with CEO Philip Kirkham: £2.54 Million Fundraise (LON:HDD)
Posted by: Amilia Stone 31st October 2017

Hardide Plc (LON:HDD) Chief Executive Officer Philip Kirkham caught up with DirectorsTalk for an exclusive interview to discuss the £2.54 million fundraise, the potential loan with Martinsville-Henry County Economic Development Corporation, their North American oil & gas framework agreement and their current trading

Q1: Now, you’ve just announced that Hardide has raised £2.54 million, before expenses, can you tell me why you raised these funds?
A1: Certainly. I think to start, I’d like to say that we’ve got some very supportive investors out there, we obviously did some roadshows around the market over the last week and the comments and the enthusiasm we got back from our investors was fantastic and the fundraising was actual oversubscribed so that was good news as well.
Basically, it’s all about development of the business, we’re obviously seeing a growing demand from existing oil and gas customers and we’ve got some good prospects with new customers as well. We recently signed a framework agreement with a large oil and gas operator and we’re in the final stages of negotiating a deal with another North American oil and gas company as well.
The Virginia facility that we opened in 2016 is performing really well and we project that the 2 coating reactors we have there, that we started operating in 2016, will be at capacity during 2018 so we need to plan to install more reactors there. With these taking about 10 months from order to getting them ready to work we need to order 1 now and plan to order a further reactor in about a years’ time. The second reactor we’re planning to order is going to probably be a bigger size reactor than we currently have so we can coat larger components which we’re seeing from the customers.

Q2: Can you also tell us more about the potential loan with Martinsville-Henry County Economic Development Corporation?
A2: It’s a very low interest loan of 2% over 5 years from the local community in Martinsville who have been very supportive all the way from us deciding to set up in Martinsville 2 years and supported us in many ways whilst we’ve been operating there. So, basically, they want to continue to support our growth in continued investment in capital and jobs in the locality. We haven’t actually got the loan yet, it’s in the final stages of preparation and we’re expecting the paperwork in the next few days.

Q3: You also mention a framework supply agreement signed with a major North American operator in the oil and gas sector, can you tell me anything about it?
A3: Unfortunately, very little, as our confidentiality clauses within the contract which is pretty typical for customers in the oil and gas industry, they’re very protective about what exactly they’re doing as they don’t want their competitors to know.
It’s Hardide’s first framework agreement with a major oil and gas operating company and it’s a very complicated, intricate product that we’re coating for them, but it’ll obviously benefit them at the end of the day by using the Hardide technology and give them significant improvements in performance and proficiency.
We do work with many of the global oil service companies to improve performance of their tools and working directly with an operator enables them to see for themselves the actual coating technology and I’m sure they’ll be many more different applications that we’ll see in this field.

Q4: Will you be recruiting more staff to service the increase in capacity?
A4: Yes, we will, particularly in North America as we expand there and grow, we will need more business development resource to handle the growing opportunities that we see there and obviously, more production staff as we install more reactors and to handle the greater volume of components that we expect to go through the facility.

Q5: Finally, can you tell us a little more about Hardide Plc’s current trading?
A5: Well, as was said in the note, we expect the financial year, just gone, to be in line with market expectations which would mean something like a 50% increase in turnover compared to the previous financial year. We will be announcing our preliminary results on December 11th and we are very positive about the coming year and beyond as this fundraising really shows, it’s all about the future.

[dozey3] 31/10/2017 19:11

Well Chris, in that case you are wasting your time on this board. Sure, it is going to take a few more years but now the case is proven and the customer base will continue to expand.

[chrisgail] 31/10/2017 13:38

Forget the history can the company generate enough free cashflow to invest in the number of reactors it needs to have a meaningful turnover. I don't think so.

[pgs2] 31/10/2017 10:46

You have missed the point. The board and shareholders have changed since the IPO. Agree Flintstone and advisors were reckless only raising limited cash for the company at the IPO back in 2005 but no point continuing to go over old ground.

[euclid5] 31/10/2017 09:56

fter the initial placing (@ 10p) back in 2005, there were 127,493,242 shares in issue (with a market value of £12.75m)

That's a 566% drop in value from 10p 12 years ago to 1.5p today - with over 10 x share dilution...disgusting to say the least, & the BoD are collecting salaries

[pgs2] 30/10/2017 20:26

If you invested at IPO, Hardide has been a terrible investment mainly because the greedy venture capital company Flintstone only raised £1.75m of cash for the company. No point going over old ground. Hardide coating technology unbeatable in certain applications and current CEO and board making good progress on customer conversion. Can't blame current CEO for major dilution created well before his watch and at least give him the credit for turnaround and improvement in share price. Latest fundraising was oversubscribed and funding growth is positive. Really like the Hardide opportunity as a recent investor but appreciate those involved early on had a bitter experience. Time to move on from the early days as the risks and opportunities have changed a lot.

[dozey3] 30/10/2017 20:10

Not necessarily. I bought my first 200k at less than 1.5p back in early 2013. Patience my dear boy (?), patience.

[meijiman] 30/10/2017 19:20

Is this serious or in jest? If serious the main flaw is that you might be better off investing sometime over the next two years. Anyone investing prior has had their investment reduced to rubble by a share price which has gone nowhere -unsurprising as there has been massive dilution to any original backers.Put another way this probably came to market ten years too early.

[chrisgail] 30/10/2017 18:29

I'm not going to say all things I've said many times before, this time I'm going to praise the board. Hardide should be used by Business Studies students as an example, if you are going to set up a business make sure you pull in investors, at the start, who are wealthy enough to keep on coughing up cash way beyond the point when most sensible investors would have said 'you can not be serious'.

They have over a million in the bank but are asking (and have got) 2.7 more to boost the business not next year but the year after, brilliant. So the shareholders have another 18 months to look forward to the board saying we are meeting existing market expectations, in other words no profit until 2019 So two reactors 2 x £0.85M = £1.7M leaving £2m to cover increased marketing, ongoing losses and of course a over large board of directors (and over paid) sorry, I said i would not say that again.

Now lets think about this to scale the business up they need to keep on adding reactors at £0.85 million, will that come from cash generation?

Directors I take my hat off to you, the next two to three years of employment secured, brilliantly well done. Shareholders, only another 2 - 3 years to wait to find out this is a £5M value company.

[ansc] 30/10/2017 09:35

An in-depth update from Progressive Research Equity this morning following last week's successful fund-raising; they remain very positive long term:

[ansc] 29/10/2017 13:01

On a brighter note, one statistic which I didn't mention [post 2626] is that after this fund-raising, the net asset per share works out at 1.7p (at least their accountants are on the ball!).

So if the share price drops below 1.7p post event, we can all rush in and fearlessly fill our boots ..... again!!

[meijiman] 27/10/2017 10:27

Yes its no surprise they have passed round the begging bowl again as they do not generate any cash to pay their way.
I have done similar sums to you ansc -very sobering.
But no-one on this board seems remotely bothered -so I will leave you in peace to be led to the promised land.
So its been 12 years to get to this this point -hmmm

[ansc] 27/10/2017 10:17

A sobering statistic. After the initial placing (@ 10p) back in 2005, there were 127,493,242 shares in issue (with a market value of £12.75m). Following this fund-raising, shares in issue will stand at a staggering 1,635,899,479 (or a 12.8 fold increase); the market value has crept up to £27.81m.

Us HDD shareholders are a generous (or should that be idiotic?) lot!

[ansc] 27/10/2017 09:01

At least the success of the fund-raising should underpin the share price now and gives the Mingy Machs less manipulative power.

[rogerramjet] 27/10/2017 07:29

Fundraising. ...DONEAirbus still in tests.Oil and gas, land based drilling and tools to the rescue.Directors stump up a little bit of cash for shares.So I'm still waiting for Airbus......DyorRRJ

[rogerramjet] 18/10/2017 07:14

I went to bed early last night for nothing. Very disappointed.