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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pressure Technologies Plc | LSE:PRES | London | Ordinary Share | GB00B1XFKR57 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.50 | -3.57% | 40.50 | 40.00 | 41.00 | 42.00 | 40.50 | 42.00 | 36,093 | 11:21:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Fluid Powr Cylindrs,actuatrs | 31.94M | -679k | -0.0219 | -18.49 | 12.58M |
Date | Subject | Author | Discuss |
---|---|---|---|
05/7/2020 18:54 | I listened to an interview on Directors’ Talk of the fund Manager of Gresham Strategic. This fund has 15.1% of PRE$ and the overall Gresham House Group has 19.63%. This is what the Fund says of its holding in PRES in its AR Quote Additional investment via a block placing at the start of the year made us the largest shareholder, backing a new management team to deliver a return of organic growth and simplification of the operational structure of the business. Chesterfield Specialist Cylinders (CSC) is a leader in the design, manufacture and maintenance of large-scale high-pressure cylinders for military, marine and oil and gas industries. A significant opportunity is emerging for their expertise in the Hydrogen sector. Defence activities remain the dominant sector. Precision Machined Components (PMC) supplies key metallic engineered components that are destined for extreme or hostile environments in mission critical functions, such as the oil and gas and extractive industries. It came under significant pressure in the oil and gas downturn between 2014 and 2018 and will do so again. New CEO, Chris Walters joined in September 2018 and commenced the implementation of a revised strategy to dispose of the loss-making alternative energy business, reducing debt in the process, and to rationalise the core businesses PMC and CSC with a goal of reinvigorating organic growth. He now has a new set of challenges. We are delighted, therefore, that the highly experienced Sir Roy Gardner has become the new Chairman to help guide the business through this period. Unquote. To me the key is the last sentence and indeed Gardner did at the AGM make a point on his relationship with Gresham House. I read this as saying that as long as Garner is around they will not sell their shares…no idea what Artemis thinks. I have always meant to have a look at Gresham House who regard themselves very much as a value investor to invest in their funds. Not sure how much PRES meets the criteria they look in their investments. | cerrito | |
03/7/2020 14:14 | Good news imo regarding greenlane. Oil may well be slowing, but the opposite can be said for hydrogen. Even the majors know this, as in the Shell/hydrogen quote in the latest pres results. | games | |
03/7/2020 06:55 | Re 2050- Pressure on oil coys grows daily both BP and RDSB writing down assets (FT today) so likely to b far less demand for PRES products PLUS significant pressure on margins where any new potential orders - Agree with those above who are implying a contracting market. | pugugly | |
03/7/2020 06:48 | The Greenlane fiasco continues. They change terms whenever they want. Compare against the original sale RNS and you will see why how badly managed this sale was. At least, some cash incoming but debt remains at uncomfortable levels. I believe a question if time before equity raise, considering their main markets (energy) has been severely impacted. | jeevsje | |
01/7/2020 10:43 | These guys are due a downward movement. They have remained pretty stable despite oil price crash and high level of debt. Downwards correction is due. | jeevsje | |
30/6/2020 21:48 | Sell below the bid... | jeevsje | |
23/6/2020 10:25 | Interesting I hope they get their moneys worth but somehow doubt it. | zapa | |
23/6/2020 09:08 | At first read, the reaction of the share price very understandable. The key will continue to be the patience of the larger shareholders which to date has been commendable. The Chairman gives them reassurance. Given the current size of their marcap not sure why they need another NED. I will need to read in greater depth. | cerrito | |
16/6/2020 06:49 | Actually more releases. TECHNOLOGIES PLC If link does not work, just click on related articles in prior post | games | |
16/6/2020 06:46 | From last week. Pressure Technologies plc Announces Disposition of Common Shares of Greenlane Renewables Inc. | games | |
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, | p1nkfish | |
04/5/2020 10:31 | Cerrito - thank you, belatedly. G. | garth | |
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). | jeevsje | |
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 | cerrito | |
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. | garth | |
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. | cerrito | |
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. | westofengland | |
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 | cerrito | |
02/3/2020 18:30 | Greenlane Update | cockerhoop | |
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. | games | |
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. | cerrito | |
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. | games |
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