Itaconix Share Discussion Threads

[dexdringle] 16/8/2023 13:20

I'm not sure we get a choice do we ?

[lefrene] 16/8/2023 10:58

DFV, this week could be the chance to grab a bargain, as I suspect that a lot of small private holders won't be wanting to take part in the consolidation, and the MM's will happily relieve them of their shares at a lower price.

[lefrene] 16/8/2023 10:14

DFV, it would seem poised to become a steady earner into a growing utility market, the sort of market that usually doesn't get too badly hit in a recession. Plus there's always the chance that one of the big boys might want to buy it out, and their beancounters will find it easier to justify once there are profits being generated.

Plus the cash on hand, if it hasn't been turned into bonuses and flashy cars, will likely be bolstered by tax losses to offset against early profits. It's only been losing money for circa a decade, so one hopes there's some hefty accumulated losses to offset?

Looks cheap, lets hope the Yanks see it that way and do some projections, and bring it up to a value that reflects the enduring potential. I hope it will be 'sold' as an all American operation with outposts in the UK and Europe. $20 a piece for the new shares will do nicely lol.

[deepfeckinvalue] 16/8/2023 00:43

Within the market cap there is a substantial cash holding. Substantial, 1/3 of the MC. No debt. Massive annuity revenue growth in existing markets, which will grow as these markets grow and become the norm for reasons listed below, as well as a huge opportunities in new markets with the invaluable IP ALREADY paid for in previous years R&D budgets. If others don't see this obvious bagger, more the merry for me to average down each month,

[lefrene] 15/8/2023 08:39

The ploy would seem to be the hope that the consolidation will attract more USA buyers of the 'buy and hold' variety. After about a decade the product finally seems to be getting some traction and the nature of the product one hopes is the sort of thing that end users will stick with as the 'green' thing goes mainstream. IP Group must think this is a good move or it wouldn't be happening.

[elsol] 15/8/2023 08:29

T101. Usually you may be right but here, the US investors market access factor is king. If you understand the laws of supply and demand a coin may drop for you. Also US investors are more long term growth investors, unlike high concentration of UK day trader get rich quick mentality folks

[pugugly] 15/8/2023 08:00

T101 - You are usually spot on but possibly wrong here - IP Group are moderately clever and they have subscribed at both higher and lower prices than current. Forget the presentation skills - Big question is the chemistry skills in offering FMCG coys and ESG alternative to petroleum ingredients -

Do the ingredients and formulas meet these requirements - Answer certainly yes.

Fair value - Depends on your timeline and also your own book cost.

[bamboo2] 15/8/2023 08:00

15 August 2023

Itaconix plc

("Itaconix" or the "Company")

Share Consolidation

Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products, announces details of its share consolidation ("Share Consolidation"). The Share Consolidation was approved by shareholders at the Company's Annual General Meeting on 28 June 2023.

Rationale for the Share Consolidation

The Directors consider that it is in the best interests of the Company's long-term development as a public quoted company to support share trading through the Company's US OTC listing, with a more manageable number of issued ordinary shares and corresponding share price.

Details of the Share Consolidation

Every existing 50 ordinary shares of GBP0.01 each in the capital of the Company (each an "Existing Ordinary Share") in issue and shown in the register of members of the Company at 6.00 p.m. (London time) on the Record Date (as defined below) will be consolidated into one ordinary share of GBP0.50 each (each a "New Ordinary Share").

The Company intends, immediately prior to the Share Consolidation being effected, to issue 45 additional Existing Ordinary Shares to enable the total number of Existing Ordinary Shares in issue being exactly divisible by 50. Since these additional shares will only represent a fraction of a New Ordinary Share, this fraction will be combined with other fractional entitlements and sold pursuant to the arrangements for fractional entitlements described below. As a result of this allotment the number of Existing Ordinary Shares in issue immediately prior to the Share Consolidation will be 674,306,100 Existing Ordinary Shares.

In accordance with the Company's articles of association (the "Articles"), no shareholder will, pursuant to the Share Consolidation, be entitled to receive a fraction of a New Ordinary Share. The Directors will make arrangements to aggregate all the fractions of New Ordinary Shares into whole New Ordinary Shares and to sell the resulting New Ordinary Shares for the best price reasonably obtainable. Where the proceeds to which a shareholder would be entitled from the sale of the fractional entitlements would amount to less than GBP5.00, in accordance with the Articles, such amounts will not be distributed to the relevant shareholders and will be aggregated and retained for the benefit of the Company in accordance with the Articles.

Rights attaching to New Ordinary Shares

The New Ordinary Shares arising upon implementation of the Share Consolidation will have the same rights as the Existing Ordinary Shares including voting, dividend, return of capital and other rights.

Effects on options

The entitlements to ordinary shares of holders of securities or instruments convertible into ordinary shares (such as share options) are expected to be adjusted to reflect the Share Consolidation .

Admission of the New Ordinary Shares

Application will be made to the London Stock Exchange for the 13,486,122 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. BST on 22 August 2023. Following Admission, the share capital of the Company will be comprised of 13,486,122 New Ordinary Shares.

Shareholders who hold Existing Ordinary Shares in uncertificated form will have such shares disabled in their CREST accounts and their CREST accounts will be credited with the New Ordinary Shares following Admission to AIM, which is expected to be on 22 August 2023.

Following the Share Consolidation, existing share certificates will cease to be valid and new share certificates will be dispatched to those shareholders who hold their Existing Ordinary Shares in certificated form.

[hazelst] 15/8/2023 07:22

You must believe in the company, otherwise you wouldn't be on this board.

[terminator101] 15/8/2023 07:18

Consolidations never end up working out well for the share price.

This loss making overhyped fluff is simply not worth its valuation of £30 million no matter how much the CEO drones on about revenue.

[lefrene] 01/8/2023 15:25

dexdringle Bud-lite have recently learned a thing or two about communication and perceptions.

Perceptions of competence are important especially so in a high tech business. I don't doubt that Mr Shaw is competent in the technical aspects of the products, but there seems a determination not to recognise his dreadful performance with communication. It has nothing to do with slick pump and dump typical AiM stocks, it's just that as the 'face' of the company he owes it to shareholders to recognise that his efforts at communication are near incoherent. The fact that he plainly chooses to ignore this suggests a difficult, (to my mind) person to work with.

After a decade of passing around the begging bowl and greatly diluting shareholders, the company finally appears on the cusp of being solvent and hopefully profitable. One hopes that the profits will grow steeply as the 'green' movement becomes mainstream.

With any luck the company will get bought out, so that the big boys can dictate prices to the smaller companies using ITX for supplies. Perhaps today has seen a turning of a corner?

[andyview] 01/8/2023 09:57

Virtually all buys so far today in itx, will we get this breaking out with interest

Gla

[andyview] 01/8/2023 08:34

I’d expect to see this move up again to at least 5p + on renewed short term interest. Any noticeable uptick in volume is usually accompanied by a rapid increase in price

Gla

[lefrene] 27/7/2023 19:43

H'mm, it would appear that at least one person would actually hire Mr Shaw to promote their business from a podium! I presume this person has never built up any sort of business from scratch?

[lefrene] 27/7/2023 15:00

elsol, we will just have to disagree. I believe that the product/s have a good future or I wouldn't hold the shares, and I don't doubt that in many respects Mr Shaw is a very worthwhile asset to the business.

However he is truly a ghastly speaker on a podium. If he hired someone to speak publicly for the company, and they came across in the same stumbling halting near incoherent style of himself, then he would sack that person on the spot!

I can only suppose that it is for vanity that he gets behind the microphone, and the hirelings around him are too afraid to point out the ghastly way he tries to deliver what is an increasingly good story. Unfortunately I suspect few can decipher what the message is that he's trying to get across. Because one does have to decipher the muddle of words, it's not a coherent clearly delivered message. The worrying thing is, he appears either not to notice (ie he doesn't listen to his performance afterwards, to see if it can be improved), or he's simply of a 'don't care' mindset, I'm the boss and I'll do what I want even if it does damage the company image.

If you ran a growth company and hired this man to do your presentation to important City investors, you'd pull him off the podium in less than 10 minutes, and get the office Receptionist to fill in.

Just as well it's the right products with loads of patents, going into a needed 'green' niche in a basic commodity sector. If he's heading for the NASDAQ, I hope one of the big investors take him to one side, (after having acquired all the shares they want), and tell Mr Shaw that he's not doing any more major presentations, he'll have to get in professionals who know how to deliver a message.

In the USA 'image' is everything, bumbling stumbling incoherent old buffers, simply won't cut it.

[elsol] 26/7/2023 20:40

Lefrene - re: "The irony, just as this finally demonstrates that it is on the cusp of being a viable commercial enterprise the market is dumping it! I guess Mr Shaw simply can't get the message across."
You're entitled to your view of the world of course BUT CORRECTION: Mr Shaw can get his message across - the real issue is that the UK 2023 investor market sentiment is fragile NOT either ITX or Shaw. This is the real market situation in which we are placed and cannot wait for the US joining us via share consol soon. The companies commercial platform has never been to such a good position and de-risked from further immediate capital raise dilution with added investment flexibility (and maybe a smart web site upgrade on horizon). So, if you are in this stock for 6m+ you should do well unless global 'short man leader syndrome maniacs' destroy the planet of course before then!! (Tin of Poo - (just reverse the words) and that little Rocket-Man his best friend). Enjoy when the re-rate once better mkt sentiments return.

[andyview] 21/7/2023 08:31

The eternal optimist

A few nibbles today could well turn into a feast

Gla

[lefrene] 20/7/2023 20:00

The other side of your happy clappy post.

The company still failed to make a profit after circa 10 years, despite all the talk. The company doubled the number of shares in circulation (halving your share of the equity) to keep the bandwagon on the road.

The positive is that for a while longer they are less vulnerable to being taken out for peanuts. Will it come right? Plainly those who gave them the £10.5 million for some reason or other think it will.

[andyview] 20/7/2023 12:56

Some good figures from the recent update:

The Company achieved its fifth consecutive year of record results for the first six months, with unaudited revenues of $4.0 million. These revenues represent 32% growth over the first half of 2022 and 58% growth over the second half of 2022. Additionally, they are 72% of the full year revenues for 2022 and 155% of the full year revenues for 2021.

Progress continues here

Gla

[the ghost who walks] 18/7/2023 18:24

Will mr shaw improve his presentation style, or hand over those duties to a professional presenter. Whoever gave him the ?10.5 million.

[andyview] 18/7/2023 16:12

Keep adding a few here on turnaround potential

Gla