Pressure Technologies Share Discussion Threads

[cockerhoop] 11/2/2020 08:18

Certainly the Greenlane orderbook appears to be heading in the right direction.

[games] 11/2/2020 08:14

Agree pug.

The run up in grn share price over recent weeks makes me think this was a 'known intention' by grn. Which on a positive slant is better than where their share price was last autumn. Fingers crossed pres get some pennies.

[pugugly] 11/2/2020 07:57

Interesting - However hedged with masses of caution - Sunlight at the end of the tunnel or a train approaching?

[games] 24/1/2020 21:46

Grn tx pres 21% stake £2m on sale.

Value 28/09/19 £1.25m (stated in results 17/12/19)

Value now £4.65m

A good return on paper, I would be cashing in as much as possible.

The new director probably mixes in circles that could open some decent doors, I can't imagine a small engineering company having a big bang sales force.

Interesting times.

[cerrito] 24/1/2020 16:53

MRF
Not sure if much has changed since my 2004 except of course that the price has risen.
The only reason I can think of for the increase this week is that the market is happier with the BOD.

[my retirement fund] 24/1/2020 12:52

Break of the years high should see 180 as a target imo. Wonder what a bid would look like ?

[westofengland] 23/1/2020 14:02

I would suggest its part of Gresham House's plan to take the company forward. We now have 1.Rebasing of the Green business in Canada;2. resolution of the tragic 2015 accident;3. Better numbers from the new CEO and 4. A new, highly experienced Chairman. A business that is on its way to better times.

[my retirement fund] 23/1/2020 12:08

I've chucked by sack in with Cerito here.

[my retirement fund] 23/1/2020 09:14

I don't know what to make of it, I'm struggling to work out if its good value. It almost feels at the current price the market knows something I don't.

[cerrito] 23/1/2020 09:02

An interesting appointment .
At first glance very good news that PRES have got someone with such experience-we will have to wait till this time next year with the publication of the year's AR to see what his fee is.
I did hear his name quite a bit a few years ago but not recently and I have never been involved in any of the companies he has been involved in.
I do ask myself why he has become chairman of a £22m marcap company that of course has potential(otherwise I would not be invested here) but hardly at the cutting edge.
Let#s hope that the institutions are happy as we do not want them selling.
Interesting no word of thanks for the retiring Chairman and no way of knowing if that is an oversight or reflects rancour on the Board.

[games] 17/1/2020 14:46

Double post

[games] 17/1/2020 14:46

As a side note grn is now a 52wk high $0.49 ca.

Nice to know, but a bird in the hand is worth two in the bush.

[games] 17/1/2020 10:51

I doubt very much they need to raise funds for the fine.

AGM is the 12th Feb, hopefully some positive news.

[jeevsje] 14/1/2020 06:57

The fine puts a massive setback for the balance sheet. Will not be surprised to see a placing to shore up balance sheet. How discounted is that likely to be, considering their current situation?

[games] 20/12/2019 00:03

Above looks ok. (From the results)

Hse still hanging over them, hopefully settled sooner rather than later.

[games] 27/11/2019 14:16

Pugugly.. agreed, they could be. But the hse is generally not there to put businesses into a financial mess, they do though from what I have read can fine proportionaly to size.

[cerrito] 27/11/2019 12:03

As a reminder this is what they said in the interims.
I cannot find any reports in the local media on the trial.
quote
11. Contingent liabilities
Following the fatal accident at Chesterfield Special Cylinders Limited (CSC) in June 2015,
on 8 February 2019 upon the conclusion of their investigation, the Health and Safety Executive
(HSE) advised CSC that it intended to prosecute CSC in relation to the accident. During the
preliminary hearing held on 6 March 2019 at Sheffield Magistrates Court, CSC submitted a plea
of not guilty to a charge brought by HSE pursuant to the Health and Safety at Work Act 1974.
The Company emphatically denies the charge brought by HSE. The case was referred to
Sheffield Crown Court and has been listed for trial. The Company continues to take legal
advice on this matter.
On 1 February 2016 the Sentencing Council’s new “Health and Safety Offences, Corporate
Manslaughter and Food Safety and Hygiene Offences Definitive Guideline” (2016) came into
force. The guidelines set a range of fines dependent on the levels of harm and culpability. These
levels are assessed by the Judge when sentencing and not at the time of charges being brought.
At this time, due to the nature of the sentencing guidelines it is not possible to determine with
any degree of certainty what, if any, financial penalties may be levied on CSC or any other group
company as a result of this charge. At such time as the quantum and likelihood of any penalty is
able to be reliably determined, further disclosure or provision will be made in accordance with
IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
unquote

[pugugly] 27/11/2019 09:24

games - Agreed re compensation for family BUT penalties under the legislation could be significant. "on summary conviction is six months imprisonment or an unlimited fine or both"

[games] 27/11/2019 09:16

I doubt they will need to raise cash, sadly for the family, death is usually valued less than life changing injuries.

[jeevsje] 27/11/2019 07:58

Found guilty. I reckon they will need to raise money, depending on extent of fine.

[cerrito] 21/11/2019 15:34

In the last week two companies in my portfolio have received take over bids and with the current PRES sp, I am asking myself if PRES will receive one.
There are two pretty separate businesses. I guess always possible that someone could make a bid for say the cylinders division which would mean that the rump would not be big enough to justify it being on the stock exchange,
Will Artemis or more likely Gresham House loose patience and take the company by the scruff of its neck?? they will probably be happy to give the new Chairman and CEO more time.
Is there any low lying fruit that a private equity buyer can pick. Certainly a lot of land that is not fully utilized around the Sheffield HG/factory but seems pretty par for the course for that area. Could new operational management be the answer? No idea but perhaps the trial will give us an insight into how on the ball operational management was in 2015 and there may well have been changes since then.
My reading is possible but unlikely in the next 6/9 months but if the CEO cannot show real improvement by next June when the interims are announced, then watch this space.

[pugugly] 21/11/2019 11:03

What a load of gobbledegoog - Reoranisation appears to have caused operaional delays - Lower margins etc - increased bank debt - Why cnnot management use plain english?

Not surprised by share price fall -

As jeevsje rightly points out - Legal risks in respect of court judgement - Impossilbe to quantify at the moment (imo)

Re Cerrito - If there is a Corbyn goverment a fall in the share price of PRES is probably the least of investors worries - At a guess a 20%-25% fall in the FTSE 250 - Investmetn income surcharge - Increased CGT plus a crackdown on tax free savings/investment plans

Robin Hood budgets - Take from those who have and give to members of the party!!

[cerrito] 21/11/2019 08:21

Not sure what to make of today's statement.
Things seem to be going well but they are in line with not very demanding market expectations per my 2000.
As jeevsje says it us a concern that debt has gone up given that they received since the interims the £2m Greenlane proceeds.
All eyes on December 17th.
Somewhat surprised at the 10pc fall but I am not buying more as I have enough and we do have two uncertainties. A new government abandoning Trident and the Court case.