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KMK Kromek Group Plc

7.25
0.40 (5.84%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Kromek Group Plc KMK London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.40 5.84% 7.25 16:18:08
Open Price Low Price High Price Close Price Previous Close
6.85 6.85 7.25 7.25 6.85
more quote information »
Industry Sector
PHARMACEUTICALS & BIOTECHNOLOGY

Kromek KMK Dividends History

No dividends issued between 21 Apr 2014 and 21 Apr 2024

Top Dividend Posts

Top Posts
Posted at 09/3/2024 07:49 by croasdalelfc
Polymer had 57m when the new loan was announced - now they have 84m which is the rest of the shares from CLNPolymer now has a material interest with 84m with 13% and are owed £5.5m by KMK
Posted at 05/2/2024 11:30 by brynos
KROMEK GROUP PLC
Released 10:17:36 05 February 2024

RNS Number : 0345C
Kromek Group PLC
05 February 2024

5 February 2024

Kromek Group plc

("Kromek" or the "Company" or the "Group")



Conversion of £1.5m of Convertible Loan Notes



Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that two holders of the convertible loan notes ("Loan Notes") issued in August 2022 have elected to convert them into new ordinary shares of 1 penny each in the Company ("Ordinary Shares") at conversion prices of 6.3 pence and 7.1 pence, per Ordinary Share.



Including accrued interest, the Loan Note holders are converting £1,509,211 of debt into 23,639,520 new Ordinary Shares and accordingly these new Ordinary Shares have been issued and allotted by the board.



The issue prices of 6.3 and 7.1 pence per new Ordinary Share represent the closing price of the Company's Ordinary Shares on AIM on 31 January 2024 and 2 February 2024, respectively, being the repayment date of the convertible loan note facilities.



Application has been made for the 23,639,520 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 8.00 a.m. on 9 February 2024 ("Admission").



The new Ordinary Shares will rank pari passu with the existing shares of the Company. Following Admission, the Company's issued share capital will consist of 623,886,340 Ordinary Shares, none of which are held in treasury. Accordingly, the figure of 623,886,340 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
Posted at 30/1/2024 16:25 by mjneish
QP, a question if you don't mind. Are you short on KMK?
Posted at 23/1/2024 12:05 by 33mick
Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, gives notice that it will be announcing its interim results for the six months ended 31 October 2023 on Tuesday 30 January 2024.



Dr Arnab Basu, Chief Executive Officer, and Paul Farquhar, Chief Financial Officer, will be hosting a presentation for investors at 6pm GMT on Wednesday 31 January 2024 via webinar.
Posted at 08/1/2024 20:31 by jaknife
The recent boom in the number of shares is because of a convertible loan note. The last share conversion under the note was announced here:



All is not what it seems and the directors have been deliberately deceptive on two levels.

1. Fixed Conversion Price

The original RNS that announced the terms of the convertible is here:



The conversion terms are described as:

"The Loan Notes have a term of 18 months (with the Company having the option to extend the majority of the loan notes by three months), are senior in ranking and unsecured. The Loan Notes are convertible at investors option into ordinary shares in the capital of the Company ("Ordinary Shares") at 15 pence per Ordinary Share, representing a 30% premium to the mid-price of the Company's share price at close of business on 04 August 2022. The Loan Notes carry a coupon of 8% per annum and have a conversion date of 31 January 2024."

And so you would be forgiven if you thought that the loan was convertible at 15p a share - it is not! The RNS then goes onto note:

"The Loan Note holders have the right to elect to be repaid in whole or in part in Ordinary Shares at the lower of the closing mid-market price on the repayment date, and 15 pence per share."

The reality of the wording is that this boils down to:

"The Loan Note holders have the right to elect to be repaid in Ordinary Shares issued at the closing mid-market price on the repayment date."


2. Interest

But there is a second more important deliberate deception that the directors are executing, which relates to the terms on which the interest on the loan is converted to shares. Specifically the directors have not disclosed in any formal RNS what the terms of conversion are for the interest element of the bond. It's not easy to work out what those terms are but we can work out that the terms are incredibly onerous.

Going back to the recent conversion notice:



it tells us that:

”Kromek … has issued and allotted 7,830,628 new ordinary shares in the Company ("Shares") at a conversion price of 5.11 pence per Share in order to settle the exercise of convertible loan notes and repayment of interest to certain convertible loan note holders … The Partial Conversion reduces the amount owing on the convertible notes by £261,000, with £2,579,000 remaining.”

But if you do the simple calculation of £261,000 / 7,830,628 then you get to a conversion price of 3.33p!!!

The explanation is that the RNS disclosure above only relates to principal and doesn’t include interest. Hence 5,107,632 shares have been issued at a price of 5.11p a share to repay the principal of £261,000 ( 5,107,632 shares x 5.11p = £261,000 ) and then a further 2,722,996 shares have been issued ( 7,830,628 - 5,107,632 ) to pay an undisclosed amount of interest at an undisclosed conversion price.

Having different conversion terms for the principal and interest is a new trend with convertible loans, you can find similar convertible loans with both COPL and SOU that have different conversion terms between principal and interest. There’s no benefit to having these unusual terms other than to deceive shareholders into thinking that the deal is better than it actually is.


JakNife
Posted at 02/1/2024 12:18 by quepassa
yes, thanks. that's the article but it's a paywall.

I was reading the London South East BB for KMK and a poster there mentioned that there were some reader comments on the article.

??

a mystery.

thanks anyway.
Posted at 26/10/2023 13:00 by ark87
"one of the worst bear markets we’ve ever seen in small cap.
Many shares are down 90 per cent in three years."

Oh yes blame Kromeks drop from 51p to 3p on the markets. Not the fact that KMK spend more money then they make, never deliver on any of their numerous hype jobs and issue new shares every 5 minutes. If ST could not spot this obvious trend he's either an idiot or not being honest.
Posted at 26/10/2023 00:10 by ark87
Do we think Simon thompson actually owns any shares? He has been tipping it all the way down from 20p. If he's legit and and buying his own tips, he should be down huge on his intial purchase and given his confidence he should have been topping up the whole way down.Yet, he shows no signs of the annoyance a legit holder would be be feeling. I'm going to guess he is in some way being paid for the incredible promotion job he giving KMK and does'nt own any KMK shares or maybe a small token holding. Not to be trusted and should be investigated... Just my opinion.
Posted at 09/9/2023 22:26 by 33mick
To put things in context and the short term (which it is )financing arrangements being hopefully sorted soon.
Philips is a £4+ billion company that has been designing state of the art hi tech medical equipment and systems for longer than anyone's been alive reading this, if you look you will see Philips name has cropped up numerous times in Kmk past news releases and broker reports, they were working with kmk's US subsidiary EV Products who they took over 10 years ago.
Analogic Corp a US privately owned company was sold 6 years ago for 1.1 bill dollars with est 500+ mil dollar annual revenues.
Spectrum Dynamics the the first OEM to fully adopt Kmk's CZT into thier premier CT product are est to be valued at 50-100 mil dol.
Plus the un-named new Asian 1.4 mil CZT SPECT imaging customer announced in May this year...

these companies owners, CEO's, management ,design and development teams have thier money, reputations and future growth & profitability all firmly aligned and committed to using kmk's CZT gamma modules after years of collaboration in most cases.
and I have no reason to doubt kmk's confident statements predicting the likes of Fuji medical, United Imaging and the others they are working with will not follow suit.
But obviously AQC knows better!
and presumably thinks all these bods have made a disastrous error of judgement.
Posted at 03/8/2023 10:42 by 33mick
Hi Ark
posting relevant content from brokers reports isn't ramping.
Some people might not have seen it and they can read, any Independent coverage is info yes.
Your endless mystic meg Muppet
Predictions from the saloon in Wimbledon are just that. you don't seem to recognise any of the value of the recent deals Kmk are pulling in.
Fuji medical who Kmk are engaged with for example are a tier 2 OEM who have 7- 8 % of the global market for CT scanners, who else can they get Thier CZT modules from? (in the world) they might well be the next comp to contract with Kmk for a multi year design and supply contract.
You might know the price of hair products but I wouldn't take you advice on much more.

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