Pressure Technologies Share Discussion Threads

[games] 16/6/2020 06:46

From last week.


Pressure Technologies plc Announces Disposition of Common Shares of Greenlane Renewables Inc.

[p1nkfish] 31/5/2020 20:45

Could see a revisit to the March 2019 75p low.

[p1nkfish] 31/5/2020 20:40

The oil dependency is high and I can't see anything but considerable caution in that market and reluctance to start new cap-ex. Interested to see how pres respond. It will say a lot about management. An uptrend in share price needed before I feel comfortable. GLA,

[garth] 04/5/2020 10:31

Cerrito - thank you, belatedly.

G.

[jeevsje] 04/5/2020 10:27

The sooner they get that placing done, the better it is. They have used more than 75% of RCF credit and the oil price drop will mean a lot of orders cancelled or delayed. Could get very ugly unless they give more clarity on financing (either more debt or equity raise).

[cerrito] 19/4/2020 07:39

Sorry Garth been distracted.
The big macro reason for share price strength back then was the lack of cost control in spending decisions by the oil companies.
Pleasantly surprised to see above 100p mid price, perhaps the directors' buys have helped

[garth] 14/4/2020 13:05

Thank you IC

G.

[garth] 09/4/2020 07:27

Cerrito,

Thank you for your informative contributions to this thread.

I continue to watch this. Please can you enlighten me as to what led to the significant rise and then fall 2013-14?

Thanks,

G.

[cerrito] 09/4/2020 06:44

Could have been worse is my initial take of this morning's RNS.
The share price reflects the reality that 57pc of last year's sales were to oil and gas .
Good under the circumstances that drawings under the RCF were lower than end of September but will be a tight squeeze when the RCF reduces to £10m at end of November.
Price may soften a bit in the near future and as always the key will be that the major shareholders do not loose patience.

[westofengland] 13/3/2020 22:10

Thanks Cerrito for this authoritstive report.Here's hoping Pressure continues to build on the simpler foundations established over the last year.

[cerrito] 13/3/2020 20:52

A very delayed report of a good AGM and too bad that despite it being held in London only 5 private shareholders there. Board were fully available both before and after the meeting.There was no presentation.
Voting
As can be expected with the shareholder base this was high at 10m shares out of a total of 18m and all resolutions passed North Korea style. Chairman said he knew both Artemis and Gresham House well. I could not engineer a way to find out why after all his large cap experience he was involved with tiddler PRES.

Main part was a description by the CEO of where he had been concentrating since the last AGM. As alluded to in the AR the main focus was in the integration of the PMC units into one group. He gave a good presentation in the integrating of the companies which had operated separately as well as changing and strengthening management. Particular attention had been placed on improving the control of the production processes. The AR had referred to delays they had experienced in meeting customer orders. This was he claimed a thing of the past as they now had a much firmer grip and if there was a delay because of an issue in their supply chain they were now able to pre warn the customer. The whole sales effort has been strengthened and focused. While the focus had been on PMC, there had been management changes in Chesterfield and they had benefited from the new practises in PMC.
All very good but of course the proof of the pudding is in the eating and will be interesting to see the first half results.
Other
No questions on Brexit, corona virus or the impact of lower oil prices.
The Pittsburgh operation was closed last year as they realized that no sales to the US navy were in the offing.
Confirmed that operationally PMC and Chesterfields were separate. They would have customers in common but they would be working with different divisions.
Finance
Nothing specific came up but it was clear to me that it was recognized that working capital management would continue to be key especially with the reduction of the Bank line at the end of the Year.
Something they have in their back pocket are the Greenlane shares which I understand they could sell as their holding has reduced after the latest capital raise. There are as I understood it no firm plans and in any event skill and patience will be needed to sell off their holding.
Hydrogen
Commented that they had identified the market for steel high pressure cylinders produced by Chesterfield in refuelling stations and indeed name checked Pau in France where ITM was involved. Tanks made of composite materials had been used for these cylinders but had been found not to be secure enough and hence the use of steel. Activity this year should' be the same as last year and of course alot of opportunities in integrity management. They had approached this market in a very systematic fashion.
Final comment
Good to see the RNS today with the Chairman buying more.
No surprise that the share price has been drifting down given the current oil market as oil and gas took 57% of sales in the last FY and the reduction of their banking facility at the end of the year. Goofed as I really should have explored their operational gearing

[cockerhoop] 02/3/2020 18:30

Greenlane Update

[games] 29/2/2020 12:59

Sir Roy,

Is showing a fair bit of confidence, I wonder if the matching side is gaining traction from new orders that otherwise were placed in china.

[cerrito] 25/2/2020 19:19

Good that we got the confirmation that the £2.1m had been received, although of course we would have been flabbergasted if it had not been.
I also see that Edison have produced a report on Gresham House Strategic proud owners of 15% of PRES.

[games] 17/2/2020 15:27

Greenlane Announces Exercise of Over-Allotment Option




Nice little earner for the underwriter.

I would expect an rns this week from pres.

[cerrito] 16/2/2020 13:15

Given the reduction in the banking facilities, this £2m wilkl be very useful for PRES.
The Greenlane prospectus is a good read and I see the share price is above 0.7 reflecting the developments in Greenlane's business outlined in the prospectus.

[pugugly] 12/2/2020 07:29

Looks as though £2M minimum - OK I was a bit too cautious yesterday

[games] 11/2/2020 18:36

Ta.

Grn going bonkers now up 18%. 0.64c

Beats me, not complaining mind, and positive for pres

[cockerhoop] 11/2/2020 17:46

Good work games,

You'd presume they've gauged appetite, fairly modest discount suggests they shouldn't have too much bother getting it away.

[games] 11/2/2020 17:16

Pricing. 20m at c$0.50 = c$10m

News link.



If it gets away ok, £2m to pres

[games] 11/2/2020 17:05

Grn. Share price. Volume is up, positive so far.

[zapa] 11/2/2020 17:04

Well done Sir Roy, nice purchase shows confidence.

[games] 11/2/2020 16:56

Fingers crossed it's the max of a ,£2m payment.

[cockerhoop] 11/2/2020 08:21

Terms suggest PRES get the lesser of 50% of funds raised or a reduction in principle to £4.1m (from £6.1m)