Pressure Technologies Share Discussion Threads

[darrin1471] 22/6/2023 18:49

Motive fuels (ITM patnership) have closed 2 hydrogen car refuelling stations.


"Motive Fuels is in a consultation phase until further notice."

Motive fuels still run the Birmingham hydrogen bus refuelling station.

"Shell also announced the closure of three car hydrogen refuelling stations in the UK and the cancellation of two additional stations in order to focus on enabling net zero
targets for HGVs"

Hydrogen cars are uneconomic compared to EV. Hydrogen HGVs and buses look a better bet until battery technologies improve. Still a very big market.

[cerrito] 22/6/2023 11:06

Have stalled in going through the AR and have only got to page 19.
Page 4 Chair's statement
He refers to the growing market for hydrogen storage and transportation but does acknowledge that progress in H1 FY23 ie to end March has been slow. Do not wish to be a party pooper but my understanding is that ITM have closed 2 of their hydrogen refuelling stations.-referenced on page 14.
Good that PMC returned to profitability (undefined) at end of Q2 ie March and but they have had buoyant market conditions and costs taken out.
Reminded me of the long drawn out EY project to come up with financing facilities to replace the Lloyds facilities and we are told to expect that this month.
Reminded me that in April 22 they appointed a COO and that IMJ was a sensible move.
Ended by saying that they remain confident for meeting FY 23 market expectations without saying what they understand them to be. I note that Singers have revenue forecast for this FY23 as £30m and PBT at £0.2m.
Page 6
Interested to read in comment on their relationship with stakeholders, in the shareholder section they say they often host or attend events for new and existing private investors. What BS. They have not had a private shareholder AGM for some time and IMC. Does not encourage one to read the rest of the section
Page 10
Reminded me that they on November 15 last year announced the potential opportunity to divest PMC, which they described as non core so perhaps we should get some news soon. In the AR they said progressing as planned-cannot really say any more.
On page 11 they talk about cost savings as just have CSC but I continue to ask myself if CSC solo will be big enough to justify a listing. I fret that CSC will be too reliant on the Dreadnought project and hydrogen storage.
Page 14
Reminded me that CSC had exposure to the Oil and gas market, especially offshore vessels.
Page 16
Discussion on CSC noting that their O&G sales last year were £1m and that they should have got to a good start to the year driven the postponed deals.
Page 17
Good to read that end of April closing order book was a record £ 7.6m.
Page 19
Given that the increased activity they are talking about will have working capital implications and as of September the Lloyds facility reduces to £ 0.9m good that they had the fund raise.

[40 fathoms] 15/6/2023 02:00

Looking forward to your views on the AR. As you have said if you take the message embedded in it at face value then things are looking very positive indeed. The major constraining factor seems to be access to sufficient levels of working capital, luckily the freehold property and the PMC division can help in this regard.

The PMC units can be sold individually. I keep nibbling but with a bit more clarity I would turn more aggressive.

[cerrito] 14/6/2023 15:21

This has been out of sight out of mind for me over recent weeks but the news of the GM prompted me to look at the AR and will shortly post some comments on that.
In the meantime we should brace ourselves for some activity here.
We will presumably and hopefully have the interims by month end and hopefully an IMC session.
We may or may not have news on what is happening to PMC. I do ask myself if there is one buyer who will buy all 3 divisions but my understanding, which may be wrong, is that it can be sold off division by division. Finally we are promised by month end the results of the protracted EY study on replacing the Lloyds facility.
In the AR they are very gung-ho on current prospects but even after the share price retreat since they are back on AIM having difficulty pressing the buy button.

[cerrito] 26/5/2023 13:39

PG has done very nicely thank you with the share price and depending on what he regards as his base currency perhaps picked up a bit on the FX.
His reasons for selling well understood and perhaps we need to brace ourselves for further selling.

[zipstuck] 24/5/2023 10:09

cant trade this online at HL

[cerrito] 23/5/2023 19:35

ALS
I will be in a better position to answer your question when we have the interims but I would not have thought so.

[darrin1471] 23/5/2023 19:34

Richard Staveley has a history of selling off the parts. It is in his interests to maximise returns on PMC although he has added PRES at a low price.

[arthur_lame_stocks] 23/5/2023 18:59

I wonder if PMC will get sold for a knockdown price now its returned to profit just to raise enough working capital to keep the lights on at CSC. After shareholders have absorbed years of losses there.

[darrin1471] 23/5/2023 14:59

I hope these Hydrogen busses are being made in the UK. Wrightbus in Northern Ireland was bought by Jo Bamford (Grandson of JCB founder)out of administration and make hydrogen busses. Jo Bamford also formed Ryze Hydrogen who are involved in the production and distribution of hydrogen.

[cerrito] 23/5/2023 11:47

FWIW, Singers have increased tp from 50 to 60 and will reevaluate after the interims.

[darrin1471] 23/5/2023 08:35

Birmingham has 20 hydrogen double decker busses and funding for another 124 including 20 bendy busses to service the West Midlands.

[lookagain] 23/5/2023 08:06

Of Interest: A 20-strong fleet of zero-emission hydrogen buses launched in the Liverpool City Region on Monday 15 May following a period of driver testing and training on the roads. The hydrogen-powered buses start their first passenger journeys on the 10A route from St Helens bus station to Liverpool city centre.

[cerrito] 23/5/2023 07:28

Note that they plan to get the interims out by end June so not another suspension.
Await news of the financial restructuring this quarter and sale of PMC.
Note delays in hydrogen business and good PMC.
Price may drift down and there may be people who want the liquidity but I will not do anything.

[davemac3] 22/5/2023 15:18

a week after mid May, they should either put out the results or update us

[zingaro] 18/5/2023 16:36

Well, mid May is over tomorrow. Will there be another delay RNS tomorrow? Better to have committed to end of May and over performed.

[darrin1471] 28/4/2023 12:14

Alphawave IP and Heiq both suspended after today due to late accounts.

KPMG were fined this week for The Works 2020 accounts.

[40 fathoms] 28/4/2023 00:41

Once upon a time an audit and the commitment of an auditor actually meant something. I can remember on many occasions when we were being audited leaving the office at 8pm and then bringing in coffee, early the next morning, for the junior audit staff who had been there all night just to make sure deadlines were met and this is back in the day when you had to reconcile everything by hand.

Given that everything is now digital it is almost impossible for me to understand how GT can give a comittment that they are unable to meet. I want to see GT replaced, they are an absolute shower. Hopefully, AI will, in the not to distant future, do away with the whole lot of them.

[darrin1471] 27/4/2023 21:20

Its happening to a lot of companies. CARD announced a weeks delay to their FY results only a day before the scheduled release, after KPMG were unable to complete on time.

[cerrito] 27/4/2023 20:53

I would have preferred it if Grant Thornton had issued a statement that we shareholders can go back to sleep and nothing to worry about.

[cerrito] 02/4/2023 22:17

I see that voter turnout at the AGM was 60pc, which is high for an AIM company but does reflect the company's share register of engaged shareholders.

[pugugly] 27/3/2023 08:19

Carrot - New contract. Acounts still delayed. Interesting announcement in respect of timing!!!!!!!!!!!!

[darrin1471] 26/3/2023 16:45

Richard Staveley on PRES "significant recovery potential over 2-3 years"



from 31 minutes +
Does not say much on PRES but gives further information on Rockwood investment strategy

[cerrito] 23/3/2023 21:24

Interesting that I have shares in 3 AIM companies with AGM's Friday next week-PRES, INL and TGP.
The audited reports of the first two companies are not yet ready which reduces the benefit of attending and means their shares will be suspended.
Does not say much for my share selection skills but I cannot remember this happening before