Plant Health Care Share Discussion Threads

[callumross] 28/7/2023 13:23

Bit late with the post close trading update this year.

[pretax2] 27/6/2023 08:50

Early trades are buys showing as sells.
Well done if you got in at the placing price yesterday.
Weird to see the share price the same as Jan 2022. Like the company has made no progress since then….?! Mr AIM Market very depressed and irrational.

[geraldus] 27/6/2023 06:41

Over 8 million sale yesterday below 9p.Who was that and anymore to come.Tin hat time?

[cerrito] 23/6/2023 06:41

Note that Cenkos have increased target price to 44p and say that the ROI is 25pc.
Just as well that they did it when the cable has risen to 1.27,obviously weak by historical standards but at least strong in the context of the last 12 months.
Good that Ospraie went in even if not as energetically as Scobie Ward. Note that Mr Griffiths passed... No idea of that is because he is nursing his losses on WAND and IQE.
Interesting coincidence on which I can draw no conclusions is that the RNS I got just before the PHC one this morning was from another AG Tech holding ANP who announced the result of a tender offer returning the cash to shareholders.

[pretax2] 23/6/2023 06:17

Fundraising:
Very strong support from directors who now have significant ‘skin in the game’.
Shows confidence moving forwards.

[callumross] 22/6/2023 16:16

And a reiteration that the first half which only has a week to go is in line with expectations which is reassuring. If I had been able to participate at 9p I certainly would have topped up. That is the only annoying thing.

[cerrito] 22/6/2023 15:55

Given that CR was very clear in the AGM where he would like to invest resources - as commented in my note-the fund raise no real surprise and may explain why in the last fortnight the share price has been muted despite the London Road show of the 2 Jeff's.
Will in the coming month the share price dip below the 9p issue price as it so often does so that we disenfranchised retail investors can get it at 9p?? Possible but unlikely.
Note that Osarie and Scobie Ward coming in.
For all the talk of AIM being useless at raising capital, this is the second of my holdings that have done a fund raise in the last 24 hours-the other being Volex.
I should have a winge that not invited to participate but note small amount of the issue and not a big discount so my heart not really into it.

[pretax2] 19/6/2023 08:15

Nice to see the PHC financial status screen on ADVFN has been updated

[cerrito] 14/6/2023 14:27

I am glad I made the AGM yesterday and we had a very good hour mainly with CR. Two other investors there including Bots from LSE.
The formal session took less than 5 minutes so we were able to cover alot of ground. The 2 Jeff's were in another meeting and came in at the end. Good division of labour as more important that they speak to prospective institutional investors.
A propos the RNS this morning we were told that there would be 279 sales in the US this year but they would not move the dial. Remember they are being sold to the speciality market which means peak sales in the Spring and Autumn. The issue is that as discussed on IMC once Federal authorization has been obtained you need to get state authorization . This is a six week proceedure in all states except California where it is a question of years... Relevant as California is about 1/3rd of the US market.
Harpin essentially the same for all products around the world.
My notes which may be wrong tell me they have 20 people in Mexico and 12 in Brazil.

Asked about the companies in the peptide space he admired, CR cited a US company Vestaron and Biotalys NV,a quoted Belgium company whose R&D spend is E18 m pa compared to the US3m that CR confirmed PHC expect to spend pa for the next couple of years and had operating income of E2m and a 2022 cash burn of E20m. As I understood it from CR, both companies have issues at getting the manufacturing issues sorted to lower production costs. What is interesting is that Biotalys had as per the Cenkos note a Marcap of £164m, ie 5x that of PHC.
I did not get a sense at the meeting of the huge apparent discrepancy in Marcap between the two companies .
Quite a bit of the meeting focused on the share price and also their desire but not need to raise cash for working capital requirements and to finance expansion in India and elsewhere. In the near term they are concentrating their efforts on 279 and 949.
I do not see much chance of them getting debt finance. They have no hard fixed assets to pledge. CR was not keen on convertibles.
CR confirmed that he was dead set against being taken over on the cheap.
He confirmed what was implicit in the Result of the Consultation that there was no appetite among his shareholder base for them to do acquisitions which I am sympathetic to.
He acknowledged there was market scepticism as there have been false starts including under his leadership.. I am not too aware of this as I bought my first shares in 2019.
PS
No real surprise that apart from the accounts all resolutions passed a la North Korea. Given the shareholder base would have expected a slightly higher voter turnout than 50pc, which is still respectable for an AIM company.
Pps
I did not ask specifically what future news flow there is. Obviously we get the interims in the next few months and last year we had a mid July IMC. Apart from that I cannot think of anything specific until we get full sign off from the various Brazilian authorities on 949.
Ppps
Silly me did not ask how US OTC market activity is nor rough percentage of shares held by UK retail.

[pretax2] 24/5/2023 13:50

RNS Scobie adding more.
Like when did that happen? Thought I‘d notice a few mill on the trade sheet.

[cerrito] 18/5/2023 11:28

I have to say I am very confused by all of this.
My message to them was not optimal for them to be quoted in a country where they do virtually no business with shares quoted in a currency where they do no business it key was that they had to have a dual liston on AIM of they went elsewhere.
At least this excersize enabled me to top up cheap.

[geraldus] 18/5/2023 07:25

Yes,I have high hopes for this and didn't want an early bath.Maybe not that long to wait for the prepped bolt on with funds now hopefully on tap.

[pretax2] 18/5/2023 07:16

That’s my take too, Geraldus.
The final sentence of Para 2. Maybe an acquisition is imminent to boost the company’s progression. There’s no indication of how funds may be raised, but I would favour non-convertible bonds to reduce the dilution.
Hats off to PHC for consulting shareholders. They run a good and honest shop IMO.

[kaos3] 18/5/2023 07:02

my take - they were promised additional capital by the present shareholder base....

and it was prob richards idea /hope/ to delist and make some corporate actions out of the view.... his expertise is in financials ... he made a comment ... so it probably was him/his idea

[geraldus] 18/5/2023 06:36

Looks like panic over until an acquisition is announced.Confident enough here personally not to need rose tinted spectacles.

[pretax2] 13/5/2023 15:59

Great point Ken
No wonder PHC want the resources to grow NOW.

[kenwright] 13/5/2023 15:12

Are we aiming to serve the wheat farmers of the Americas... ?

Just found this today..(from Bloomberg)


America’s wheat fields have become so plagued by drought that farmers are now poised to abandon crops at the highest rate in more than a century. Producers are expected to harvest about 67% of their planted acres, the US Department of Agriculture said, which would would be the lowest harvest ratio since 1917

[pretax2] 13/5/2023 09:19

Excellent growth fundamentals don't change here. Recession or not, people have to eat.

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Article:Plant Health Care – Brazil gives first stage approval for its new PREtec product for soybean cultivation, Broker says Buy

[Snip]

Analyst Opinion – Cenkos says Buy

John-Marc Bunce at Cenkos Securities rates the group’s shares as a Buy with a Target Price of 37p a share. He states that this first stage approval came faster than expected (and) that full approval could be a much shorter process than has been stated and that it could well come before the end of this year. That would enable a product launch in 2024. He also states that the Brazilian market opportunity alone is significant, backing up his predictions of close to break-even this year and with first profits showing up next year.

hxxps://ukinvestormagazine.co.uk/plant-health-care-brazil-gives-first-stage-approval-for-its-new-pretec-product-for-soybean-cultivation-broker-says-buy/?mc_cid=687addd668&mc_eid=043e6f0b33

[pretax2] 12/5/2023 21:02

Article:
Plant Health Care's new PREtec product PHC68949 granted first stage of approval in Brazil
hxxps://news.agropages.com/News/NewsDetail---46412.htm
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Great company, will be massive in a few years. MMs not having my shares.

[pretax2] 09/5/2023 12:54

Interesting LinkedIn comment today from Rodrigo Miranda (Global Marketing PHC) to a post. He writes-
———;——̵2;
……. In fact, I invite everyone to follow the Plant Health Care, Inc. We have a lot of news on the way.
———;——̵2;—
Well we already had some good news today.
More on the way? He sounds upbeat.

[pretax2] 09/5/2023 11:36

Thanks callumross
I think that's a fair valuation.

[callumross] 09/5/2023 11:08

Comment: Whilst the Brazilian authorities do not commit to a specific timeline for granting regulatory licenses, Plant Health Care notes that it anticipates regulatory licenses will be granted within the next 1-2 years. We see this as conservative as looking back at the previous approval of PHC249 (Saori), the Brazilian authorities were relatively quick with their assessment and approvals, recognising the considerably lower risk profile of PREtec, enabling a federal registration for PHC279 in 10 months (March 2020 submission and January 2021 approval). With PHC249 and PHC949 coming from the same family of compounds (peptides), and with this prior track record, we would expect approval is received this year. This would enable a product launch in 2024 which would be in line with our forecasts. We look forward to the final registration/approval in due course this year and in the meantime, we maintain our Buy recommendation and 37p price target.

[cerrito] 09/5/2023 06:47

This is obviously good if not v good news given that MAPA gave it's approval earlier than expected.
I have no idea if this means that the approvals of the other two agencies will be given quicker than first thought and in reality I suspect neither do PHC .
It would be good to get an idea of the totality of the Brazilian soya nematide msrket in UDd terms and at what stage of the planting cycle this trestment is given.

[pretax2] 09/5/2023 06:39

PHC 949 RNS, passes 1st stage approval for Brazil Soy.
Results show the product is as good as chemical nematocides and better than current biological product.
949 has huge sales potential globally, well done PHC.