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POS Plexus Holdings Plc

0.00 (0.0%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Plexus Holdings Plc LSE:POS London Ordinary Share GB00B0MDF233 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 18.75 364,012 10:49:27
Bid Price Offer Price High Price Low Price Open Price
18.00 19.50 19.00 18.50 19.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Machy, Equip 2.31M -7.46M -0.0708 -2.65 19.76M
Last Trade Time Trade Type Trade Size Trade Price Currency
15:49:45 O 500 19.42 GBX

Plexus (POS) Latest News

Plexus (POS) Discussions and Chat

Plexus (POS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-01 15:49:4519.4250097.10O
2023-12-01 14:56:0619.4225,7464,999.87O
2023-12-01 14:40:0219.4212,0002,330.40O
2023-12-01 14:39:1518.7629,8505,598.37O
2023-12-01 14:37:5318.7630,5085,721.78O

Plexus (POS) Top Chat Posts

Top Posts
Posted at 01/12/2023 08:20 by Plexus Daily Update
Plexus Holdings Plc is listed in the Oil & Gas Field Machy, Equip sector of the London Stock Exchange with ticker POS. The last closing price for Plexus was 18.75p.
Plexus currently has 105,386,239 shares in issue. The market capitalisation of Plexus is £19,759,920.
Plexus has a price to earnings ratio (PE ratio) of -2.65.
This morning POS shares opened at 19p
Posted at 29/11/2023 09:47 by paulypilot
jailbird - each of us is making our own assessment of risk:reward at Plexus, and with every share we look at. That's what investing is all about. We're trying to predict the future, which is impossible to do accurately.

Summarising might look something like this -

Proven superior tech, patented & decades of knowhow, experience & contacts.
Previously profitable before drilling dried up in 2015, and valued at peak £300m.
Licensing deal with world's largest oil services group, with products to launch globally shortly = new royalty stream.
Environmental & legislation now prioritising methane leaks - precisely what Plexus's products do - a new & significant tailwind.
Current financial year move back into profit forecast by Cavendish & confirmed in today's commentary from Plexus.
Mgt own 59% and jealously guard the share capital & have backed co with £3.2m of own money in innovative funding recently - commitment & belief this will work.

Needs more funding, hence going concern material uncertainty - dilution unknown.
Has 10x share price rise overshot? (or was starting price of 2p just ludicrously low?!)
Will £8m special project contract win this year be a one-off?
General uncertainty over execution & to what extent they can commercialise the tech?

Each investor can weigh up these & other factors, then make an informed choice.
As there's a lot of uncertainty, we'll clearly come up with a wide range of potential outcomes & valuations! That's why the share price is so volatile.
Posted at 29/11/2023 09:00 by source
Pretty boring results largely telling us nothing that prior results haven't already said. Basically these results reflect another poor year to June 2022. I was expecting far more tangible news in the Forward statements but they aren't giving much away either despite 3 years of positive forward looks in previous reports by management - this again suggests they still don't have better sales pipeline visibility despite being 6 months into the current year. We could have expected far more in this forward look in terms of post close progress and sales pipelines build statics instead of again just noting positive wider industry trends! We already know & can see the huge turnarounds already underway across large numbers of Oil Services companies, so it's a shame Plexus couldn't confirm its own experience of the same. As I expected I did not expect them to say much about SLB or how much our deal with SLB is actually going to be worth to us. This will have disappointed many newer shareholders, who for some reason thought management would give better pictures of it now when they haven't before. Another bad year in these historical results was expected so why MM's cynically dropped the Shares-price by -20% was odd if you still believe that the management is going to finally start to turn things around here. The fact buyers have quickly turned up & shares have quickly recovered though to -4% means some shareholders were unfortunately robbed & other shareholders quickly bought them up while on "Black Friday sale" lol. This is again showing trust in the management capacity to finally catch the industry recovery that is well underway elsewhere. This currently active year is clearly a different ball game altogether & 6 months into it already the pressures on the management to finally start to deliver more predictable & larger sales and make good on their numerous statements over the past 3 years that they are 'seeing robust signs of recovery' or similar. Certainly compared to the wider oil services industry recovery over the past two years at least the Plexus management are definitely off the pace & haven't yet caught the recovery wave many others have. They clearly have the right products, history, network, delivery skills to finally deliver on the promise but stumbling around for sales for something the industry desperately needs is now the key execution risk. Ps. KMS sale was an abysmal decision at this point in the cycle.
Posted at 17/11/2023 10:49 by bloomberg2
Hunting PLC Q3 2023 Trading UpdateSource: UK Regulatory (RNS & others)TIDMHTGRNS Number : 3031RHunting PLC26 October 2023 For Immediate Release 26 October 2023 Hunting PLC("Hunting" or "the Company" or "the Group")Major Subsea OrderandQ3 2023 Trading UpdateHunting PLC (LSE: HTG), the global precision engineering group, today announces a further major subsea order and also issues a Q3 2023 trading update.Highlights -- $59 million order for titanium stress joints received in October 2023. -- Group EBITDA of $75 million, with the result in Q3 2023 similar to Q2; and 2023 full year guidance remaining unchanged at $96-100 million.-- Total cash and bank / (borrowings)(1) of $(68) million at quarter end. Year-end position now anticipated to be broadly zero. -- $511 million sales order book as at 30 September 2023. -- Launch of the Hunting 2030 Strategy. -- Opening of the Company's joint venture threading facility in Nashik, India. -- Robust demand across most product lines. -- Outlook continues to be positive, driven by international activity. Jim Johnson, Chief Executive of Hunting, commented:"We are delighted to have received another major order for Hunting's titanium stress joints. The technology is gaining further acceptance for application to offshore production vessels and we are pleased to be supporting clients with technology which delivers safer and faster cash flows for them."The performance of the Group has been encouraging in the period driven by strong international demand for oil and gas, underpinned by an increasing global focus on energy security and continued economic growth. Each of Hunting's product groups continues to execute on its strategy of growth, as we outlined at our Capital Markets Day."Our diverse product platform plays to the long-term investment themes of the industry, including strong growth in offshore work and international activity levels growing at a robust rate."We are also pleased to note that commodity prices are showing resilience. This strength will continue to deliver commitments to new drilling and completion activity as we enter 2024 and positions the Group strongly going forward."Major Subsea OrderThe Company is pleased to announce that in October 2023 it received a further large order for its titanium stress joints for a client operating in South America. In line with the Hunting 2030 Strategy, the Group has continued to pursue growth opportunities in the offshore segment of the global energy market, with today's announcement confirming the continued success of Hunting's stress joint technology for application to Floating, Production, Storage and Offloading facilities. The $59 million order will be completed over the next 28 months with revenue being recognised over this timescale. With this new order, the Group's total sales order book has increased from the position reported at quarter end.Q3 Trading UpdateHunting's trading performance during Q3 2023 has continued its positive momentum, as international drilling activity continues to drive demand for its major product lines. Activity in South America, the Middle East and Asia Pacific markets continues to be high, offsetting some softness seen within the North American onshore market. Year-to-date EBITDA of $75 million reflects a near doubling compared to the same period in 2022, as the focus on energy security and global economic growth increases. Hunting's EBITDA result in Q3 2023 is similar to Q2 and well ahead of Q1 2023 respectively, demonstrating the broad-based strength of the Group's diverse product portfolio. Group EBITDA margin has also exceeded 11% in the quarter, with pricing and demand remaining firm.The Group's balance sheet remains strong, with net assets as at 30 September 2023 of $865 million. Working capital increased by $28 million over the quarter as investment to meet secured orders continued, resulting in total cash and bank / (borrowings)(1) of $(68) million as at 30 September 2023.Management believes that cash generation will accelerate in the balance of the year and going into 2024, with a cash and bank / (borrowings)(1) position at year-end now anticipated to be broadly zero, due largely to new orders received in the period, coupled with order completions and payment timings.The 2023 interim dividend of 5.0 cents per share will be paid on Friday 27 October 2023, which will absorb $8 million. Capital expenditure for the full year is also now anticipated to be c.$35 million.In summary, the Board remains comfortable with current EBITDA expectations of $96-100 million as sales momentum and profitability are sustained.Product Line OverviewThe Group's global OCTG, Premium Connections and Accessories businesses have reported a strong performance in the year-to-date. Well completion activity in South America has delivered robust growth in the year, as activity in Guyana and Brazil remain strong. In Asia Pacific, tender activity in China, India and the Middle East is also reporting good momentum.Hunting's Perforating Systems business has reported headwinds during the past two trading quarters due to the reducing North American onshore rig count; however, EBITDA results remain broadly similar to 2022 as margins remain solid due to the prevailing product mix in the year-to-date.Within the Advanced Manufacturing product group, the Dearborn business has reported strengthening results in the year, with pricing and margins increasing. Non-oil and gas sales continue to increase.The Subsea Technologies product lines have reported strong results during the quarter, with demand for hydraulic valves and couplings delivering record results within the Stafford business, supported by ongoing activity in the Spring business as orders for titanium stress joints continue. New orders for Flow Access Modules within the Enpro Subsea business have also accelerated in the quarter.Other Manufacturing, which includes well intervention, well testing and trenchless products also report good results.Segmental OverviewThe Hunting Titan operating segment has reported flat results in the year-to-date, compared to the prior period. This result demonstrates the strength of the segment's product offering and its steady pricing and margins, despite the reduced US onshore rig count. International sales continue to improve, in line with its strategy to grow its presence in South America, the Middle East and Asia Pacific.The North America operating segment has delivered very strong results, driven mostly by the OCTG and Advanced Manufacturing businesses. As noted above, activity in South America has been extremely strong in the year given the drilling success in Guyana and the long-term development commitments made by major operators in the period.As noted above, the Group's Subsea Technologies businesses have also reported strong increases in activity in the period.The EMEA operating segment continues to complete work for Tubacex for Brazil, supported by growing momentum in the Middle East.Hunting's Asia Pacific operating segment also reports strong tender activity in the period, and will benefit from the new threading facility in Nashik, India, which opened in September.Hunting 2030 Strategy / Capital Markets DayAt the Capital Markets Day in September 2023, Hunting's management set out its strategy for growth to 2030. The Group plans to deliver c.$2 billion of sales per annum by the end of decade, at EBITDA margins in excess of 15%.Key areas of opportunity include growth of its OCTG businesses, driven by strong international oil and gas demand and the high-growth energy transition markets of geothermal and carbon capture, with an increase seen this quarter for geothermal tenders for delivery in 2024.Hunting also sees strong growth in its Subsea businesses as offshore investment by the global industry is projected to double throughout the remainder of the decade.The Group also plans to accelerate its non-oil and gas sales, predominantly through its Advanced Manufacturing businesses, as it targets the high-end markets of aviation, commercial space, defence and medical.The above strategy is underpinned by a focus on delivering strong free cash flow to the end of the decade and an increasing dividend distribution.Date of Next Trading UpdateThe Group's next Trading Update is scheduled for Wednesday 10 January 2024.For further information please contact: Hunting PLC Tel: +44 (0) 20 7321 0123 Jim Johnson, Chief Executive Bruce Ferguson, Finance Director Buchanan Tel: +44 (0) 20 7466 5000 Ben Romney Barry Archer George Pope Notes to Editors:About Hunting PLCHunting is a global engineering group that provides precision-engineered equipment and premium services, which add value for our customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.The Group reports in US dollars across five operating segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa ("EMEA") and Asia Pacific.Hunting PLC's Legal Entity Identifier is 2138008S5FL78ITZRN66.Note 1 -Total cash and bank / (borrowings) comprises cash and cash equivalents less bank debt and excludes the long-term shareholder loan of $3.9 million and IFRS 16 lease liabilities., the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDTSTFESFIIEDSEDS(END) Dow Jones NewswiresOctober 26, 2023 02:00 ET (06:00 GMT)
Posted at 12/11/2023 18:42 by paulypilot
IF the company could have delisted, they would have.

That's clearly not true. Numerous micro caps are delisting as we speak - e.g. Tintra and Microsaic, in the last week alone. It's very easy, they just announce they intend to de-list, the share price crashes, and management can take the company private for peanuts.

Plexus has quite obviously decided to remain listed, and if you speak to them, they value the listing greatly.
Although I do agree with you being a listed company provides all sorts of options, including refinancing whenever they need to.

That said, private markets are much hotter than public markets for valuations right now, so I wouldn't altogether be surprised if private equity or an industry major approach Plexus with a possible deal that puts a zero on the end of the current £20m market cap. After all, Plexus was valued at about £300m about 10 years ago, and there's only been a little dilution since then.

Only bouncing ideas around, we're all just speculating on the possibilities. Management & their team are the experts here. We're clueless in comparison, happy to admit it. But it's also exciting being along for the ride, so I won't apologise to anyone for being enthusiastic about this share, based on the facts, figures, and forecasts that we currently have available.
Posted at 06/11/2023 20:51 by bloomberg2
POS - GRIP IP still belongs to Plexus !!the Disposal and Collaboration Agreement is a major milestone for Plexus, we see this as merely marking the end of the first phase of the Company's development. Plexus is now entering what we believe will be a highly exciting and rewarding period, as we focus on developing and positioning new and existing POS-GRIP enabled products beyond wellheads for jack up exploration, both within the oil and gas sector, including production and subsea, and the wider energy industry, such as renewables and geothermal. As the recent order from Centrica for a production wellhead and a previous contract for a POS-GRIP connector for abandonment operations from the same operator demonstrate, we already have additional products ready for roll-out. In my view, Plexus has never been in a stronger position in terms of a combination of proprietary IP and cash resources to realise the full potential and value of POS-GRIP, and I look forward to providing further updates on our progress."Richard Alabaster, President of TechnipFMC's Surface Technologies business, stated: "I am very pleased that we have finalized the transaction which supports our objective of extending and strengthening our position in exploration-drilling products and services while leveraging our global field presence. It also enhances TechnipFMC's capability in HPHT applications."
Posted at 06/11/2023 06:59 by mammyoko
Is anybody else concerned that this is a one-man show (Ben van Bilderbeek), that he is getting on a bit and that he doesn't;t have a huge financial interest in the company?

There are several scenarios around those risks that wouldn't be good for shareholders.

I took a small position on Friday. I can see all the arguments that this is potentially undervalued - particularly important is the fact that the technology is proven. But won't Schlumberger - who will have the best information about whether sales are going to take off - just step in and buy the thing long before there is any chance of it really multi-bagging? Mr van Bilderbeek doesn't seem to have any significant holding that could in any way oppose that. So isn't the upside much more limited than has been suggested? Schlumberger (or another) would just step in and buy it and whip the upside away from current investors.

Also, I'm unclear about the ownership of the POS-GRIP IP - was that not included in the sale of their wellhead exploration and services subsidiary to TechnipFMC on 2017? Was the IP retained in Plexus holdings as they seem to still be selling POS-GRIP. Does that pout them in competition with TechnipFMC? Would really appreciate some information about the background here.

After GBP27m of negative free cashflows over the last 7 years their ability to absorb further losses must surely be limited? I can see that there is a reasonable turnaround in place for FY24 but do they have working capital capacity to deliver it.

Intriguing but I'm not sure that the potential upside would be left on the table for PIs and the downside is that the contract doesn't lead to lots more contracts and that the creative avenues for generating cash are exhausted.
Posted at 03/11/2023 10:32 by paulypilot
Let me demonstrate with some numbers how averse Plexus management are to new share issuance - the complete opposite of most AIM companies! But that's because Plexus mgt own 59% of the co, and it's very much the CEO's life's work - he started the company in the late 1980s! So they jealously guard their own position, and hence our position too as smaller shareholders.

2017 - op loss £5.3m - no shares in issue 105m
2018 - op loss £5.3m - no. shares 105m
2019 - op loss £4.0m - no. shares 103m
2020 - op loss £5.7m - no. shares 103m
2021 - op loss £4.6m - no shares 100m
2022 - op loss £4.3m - no shares 100m
2023 - forecast £4.5m loss - no shares 103m (after recent sale of treasury shares)
2024 - forecast move into small profit, due to £8m rental contract.
(years ending June)

Obviously a terrible track record, in terms of losses, because demand for higher end wellheads dried up. That's now changing, with demand returning, evidenced by the £8m contract win announced earlier this year.

Obviously we need more than 1 big contract! If this is the first of a much larger resumption of business for Plexus, then we're sitting on a potentially massive multibagger here (remember it reached £300m mkt cap in 2014 - this is proven, patented technology, not a startup.
If the £8m contract turns out to be a one-off, then we'll just have a frustrating bump along the bottom, and maybe eventually a trade sale of Plexus to one of the majors (which could itself be quite lucrative, who knows?)

It's the 59% mgt shareholdings that makes this stand out for me. Instead of hired hands who throw around new shares like confetti, as at so many AIM growth companies, the team here are old hands, with proven tech, and highly passionate about commercialising it - talk to the CEO to get a flavour for the level of commitment here.

How did they fund the multi-year losses without dilution, I hear you cry? Some IP was sold to Technip, and they found more money down the back of the sofa, including selling a £1m leasehold property to the CEO. The CEO also put in £1.5m in a convertible loan (fair terms I'd say), and more recently another £0.7m loan. So you couldn't ask for more committed management. They're absolutely convinced the company is on the cusp of exciting things, which is why they're backing it with their own money.

We'll just have to wait and see whether it works or not. I can't think of anything else at £15m market cap with proven tech, high margins, a move into profit in the current year, and a licensing deal with the world's largest oil services group about to start commercialisation. There's an awful lot of potential here, for very little market cap.

I'll stop now, as I'm starting to sound like a ramper, but all the above is factually correct, based on what's in the RNS and the Cenkos notes.

I'm up to 2.95m shares now, so for me, this HAS to work, and I'm in for the duration!

Best wishes, Paul.
Posted at 03/11/2023 09:36 by paulypilot
Any placing would be linked to the convertible loans, that's what drives it. Management are totally opposed to dilution, as evidenced by the fact that they still own 59%, despite years of losses since 2015. Now things are turning up again (eg. £8m contract, plug & abandonment, regulatory focus on methane leaks, launch of Schlumberger products & royalties starting), I'd say they'll jealously guard the share count.

There are other financing sources available - eg deferred payment terms already agreed for manufacturing new rental equipment.

With a nanocap like this, the free float is so tiny that the share price can do literally anything. It's not rational or logical, or linked to what might be going on with the fundamentals. It's just lots of small trades, going in & out, I think. The market cap is far too small for institutions to be trading in the market.

My emotions dislike the price falling, but the logical part of my brain likes it, as it provides an opportunity to buy more at a more favourable price.

Given the upside potential we've discussed here before, £15m mkt cap looks an absolute gift to me. But there are no guarantees of course, anything could happen at this end of the market.

Regards, Paul.
Posted at 06/10/2023 06:59 by paulypilot
Good morning! I'm not a technical expert, but this morning's RNS seems to read positively to me. It sounds like this is for rental of equipment, although it doesn't specifically say so. £850k for plug & abandonment of 4 wells sounds good business. They have mentioned previously that the P&A market in N.Sea is large, and multi-year, so this looks a good development. Let's hope we see a flow of positive contract news - I think it needs that to propel the share price onto the next big move up (we hope!)

Gives me additional confidence to keep holding tight onto my shares here.

What do others think of today's news?

Regards, Paul.
Posted at 18/9/2023 14:35 by varies
It was in October 2022 that Mr van Bilderbeek and others put up £1,550,000 of their money to support Plexus. The share price was below 3p at the time and the lenders could have demanded the right to convert their loan in due course into ordinary shares at about this price. I doubt if Plexus could have raised money then from anyone else on better terms.
Which of us, holding shares in those dark days, could have foreseen a rise to 17p within 12 months ? The share price went below 2p last December.
I do suggest that the moaners and groaners on this thread should whimper less and be thankful, as I am, for this dramatic recovery in the share price.
If Mr. van B had coveted KMS as much as has been suggested, then he could have insisted last year on Plexus granting him an option in part consideration for his loan.
Plexus share price data is direct from the London Stock Exchange

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