Kromek Share Discussion Threads

[quepassa] 29/9/2023 06:51

Next debt cliff not far away - the forthcoming refinancing/repayment of c £2.6m of convertible fixed rate Loan Notes in Feb/Mar next year 2024 (extendible by 3 months).

The maturity profile on its c. £8.1million debt pile is too short for comfort in my opinion.

What was a Revolving Credit provided by a major bank has morphed uncomfortably in my view into hard-core debt in the form of Fixed Rate Term Loans from a non-conventional source.



ALL IMO. DYOR.

QP

[wildbanana] 28/9/2023 22:01

Hope you're not in too deep. This will end up being taken private at best. Maybe someone will buy the IPR but probably for a song. All the best

[supernumerary] 28/9/2023 21:42

'wildbanana'

'I've held off commenting for years'

lol - as if

[wildbanana] 28/9/2023 21:18

I've held off commenting for years because I wanted Kromek to succeed. This isn't a Ponzi but multiple flavours of snake oil have been sold for years. This is a UK Theranos and a master class in value destruction. Ignore the hype and look at the numbers. It's doomed and the absence of a willing banker is telling.

[b00mb0y] 28/9/2023 15:07

What you reckon, mick33?

[b00mb0y] 28/9/2023 15:06

It beggars belief that share holders are so totally disregarded and disrespected.

[ark87] 28/9/2023 14:56

In 10 years Basu has taken Kromek from 51p to 3.8p and apart from a few disgruntled message board posters still gets to keep his job, gets pay rises along the way and no-one cares. One of the weirdest companies i've ever come across

[catabrit] 28/9/2023 11:53

Top line growth means zilch in the new regime if it doesn’t lead to bottom line growth.

As I said months’ ago, there is little reason to hold this share and the trend is lower. It might ebb and flow but it’s lower.

If they cared about shareholders - and certainly if the hidden upside was really there - they would announce a strategic review and put everyone out of their misery.

[33mick] 28/9/2023 09:53

Financing resolved

[quepassa] 28/9/2023 07:55

It is interesting to note that a Revolving Credit Facility from HSBC, a major bank, has been replaced by a FIXED RATE LOAN paying 9.5% from a private company (not on the FCA register).

A somewhat unusual and noteworthy feature of the Loan is that Kromek can elect to pay quarterly interest THROUGH THE ISSUE OF NEW ORDINARY SHARES.

If elected, this can lead to significant further shareholder dilution.

Micro Company Accounts to 30/6/22 for Polymer N2 Limited can readily be found in the public domain.

ALL IMO. DYOR.
QP

[croasdalelfc] 28/9/2023 07:36

So 5m shares issued a quarter (20m a year) and the principal loan to be paid in ~ 2 years .Plus the CLN - by Feb 2024.600m shares now - probably 700m shares sometime in 2024.

[aqc888] 26/9/2023 20:12

I suspect the clouds have finally cleared for mike33

[b00mb0y] 25/9/2023 18:09

Well. It’s extremely cloudy now.
Wonder what mike33 is thinking.

[quepassa] 25/9/2023 09:33

No sightings of any of the flock of the regular finfluencers on this bulletin board or London S.E. for the past fortnight.

..hmmm

is this an indicator of the approaching weather....??????

[estienne] 22/9/2023 09:17

I don't read Investor's Chronicle but I would be interested to see what spin Simon Thompson can put on Krapek

[b00mb0y] 18/9/2023 17:04

Well, mick33. Let’s have it. Are you buying in at this all-time low price?

[1luckylee] 18/9/2023 13:04

Almost 93% down in the last 10 years and that does not even tell the real decimation of this share when you include dilution/loans etc... Mr Basu is clearly only capable of taking Kromek in one direction,he needs to go and soon before there is nothing left.

[quepassa] 15/9/2023 16:12

Just in case anyone cares to eyeball them again:-

" Accordingly, the Board has concluded that it is almost certain that the required mitigating financing will be secured, allowing the Group to repay the RCF by the agreed payment date."

AND

"The Group has a GBP5.0m RCF with HSBC, the repayment date for which has been extended from 11 March 2023 to 31 August 2023. Post year end, the Group deposited GBP4.5m with HSBC over which the bank has a legal charge in the event that the RCF is not repaid by 31 August 2023. At the date of this report, the Group are finalising the terms of an alternative borrowing facility to replace the HSBC RCF and the Board are confident that this facility will be secured to repay the RCF by 31 August 2023."


Both in RNS of 24/7.


ALL IMO. DYOR.
QP

[b00mb0y] 15/9/2023 08:36

Neither would mick33.

[aqc888] 14/9/2023 22:34

I wouldn’t buy any even at 1p

[aqc888] 14/9/2023 22:33

Can’t believe this isn’t below 3p yet

[quepassa] 14/9/2023 17:08

For anyone interested, the HSBC charge document (running to 13 pages) can be readily found in the public domain.


ALL IMO. DYOR.
QP

[estienne] 14/9/2023 16:58

Either way its better to steer clear