Prophotonix Share Discussion Threads

[pauliewonder] 03/6/2017 14:49

Think the rns is communicating that they are making progress and that there appears to be demand which will be key to maintaining the fantastic growth figures they keep referring to

[dr biotech] 03/6/2017 11:50

Price will be somewhat less than £10 - order value is 850k for more than 100k...but the key thing is the total value of course which is decent. Have to hope they get a repeat order as it seems the one order is 7% of group turnover.

[buywell3] 03/6/2017 07:44

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[dr biotech] 02/6/2017 16:53

Well if you read the RNS closely it appears that they have shipped 100k over time, its not a new order as you have implied.

If they have made 100k of them and delivered them to 1 customer then the cost will be low.

In the highly unlikely event that you are correct and they have sold £1m+ of this to one company then that would indicate a high dependency on one product and one customer - not a great place to be.

[buywell3] 02/6/2017 15:14

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[dr biotech] 02/6/2017 10:17

Your £10 per unit is on the very high side. If a shop can sell them for £13 each then what do you think they buy them for?

[buywell3] 02/6/2017 10:00

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[dr biotech] 02/6/2017 09:35

No it's not. Annual rev about £12.5m. The figures they quote are US$.

Been on my radar for a while as we use a similar LED in some products that we sell. Cost per unit would be somewhat less than £10 each for 100k.

I don't fully trust foreign listed AIM co's, otherwise I'd have bought in. But seems genuine enough.

[rcturner2] 02/6/2017 09:06

The current market cap is £15m, which is still less than the annual revenue.

[pauliewonder] 02/6/2017 08:33

Wonder if there is a leak.

[someuwin] 02/6/2017 08:32

Looks interesting

[cezary2] 02/6/2017 08:23

is this a pump and dump?

[greedy rooster] 02/6/2017 07:42

Question is, can you sellwell3?

[buywell3] 02/6/2017 07:23

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[wilmdav] 01/6/2017 22:34

Below is an extract from 600 Group's AGM statement of 17 September 2014. It confirms that the purpose of the Rights Agreement was to protect PPIX from takeover (from SIXH presumably).

I think the reason why SIXH's existing holding does not constitute a trigger for the Distribution Date is because they owned the shares before the Record Date of 28 August 2014. The main document says the Distribution Date cannot preceded the Record Date.

"In August 2014, the company acquired 26.3% of the issued share capital of ProPhotonix Limited ("ProPhotonix"), a manufacturer and distributor of LED and laser diode arrays for industrial, medical and security applications. ProPhotonix is an AIM listed company registered in Delaware, USA and accordingly is not subject to the Takeover Code. Shareholders may be aware that ProPhotonix has subsequently announced the adoption of a rights agreement designed to discourage the purchase of further shares in the company without the approval of its board of directors.

Whilst we are disappointed with such action, we are actively engaging in constructive dialogue with the board and management of ProPhotonix with the intention of maximising shareholder value in both companies. Meanwhile, we consider that the acquisition of a substantial minority shareholding in Prophotonix, by an exchange of shares with major UK based institutional shareholders, offers potential value to our shareholders in the medium term."

[buywell3] 01/6/2017 19:59

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[buywell3] 01/6/2017 16:19

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[buywell3] 01/6/2017 14:40

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[greedy rooster] 01/6/2017 13:18

So in my mind, it is in the Cos interest to get the price in excess of 23p by the final exercise date which effectively underwrites the progress we are seeing.

[buywell3] 01/6/2017 11:26

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[varies] 01/6/2017 08:49

RCT,buywell and wilmdav
Thank you all for your helpful comments on the Rights.
I expect that PPIX will make some announcement about them in August, probably an extension.

[wilmdav] 31/5/2017 23:06

I find this document very difficult to understand.

It states that the 'distribution date' will occur 10 days after someone acquires at least 20% of the shares. On that basis the distribution date virtually coincided with the 'record date' because 600 Group had acquired above that number 19 days before the document was issued.

My impression is that the purpose is to minimise the chance of the company being taken over because the 'acquirer' of 20%+ shares loses the right to buy an equivalent number of dividend shares, whereas other holders can do so.

The share price on 28 August 2014 was around 3.3p. What was the purpose of setting a target price nearly ten times higher to be achieved within three years?

Any clarification would be welcome!

[buywell3] 31/5/2017 08:34

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[rcturner2] 31/5/2017 07:59

The rights are still listed on the company website:

hxxp://www.prophotonix.com/investors/stockinfo.aspx

I have had a quick read of the rights issue document, and it says that the rights are attached to the shares, so in fact all holders have these rights?! Anyone agree/disagree?

[varies] 30/5/2017 21:11

This has been a lucky share for me as I bought some at about 3p on 4 August and 14 August 2014 and added more at about 4p last September.
On the web-site we are told that shareholders of record on 28 August 2014 received Rights on a 1 for 1 basis to subscribe for shares at 30c (say 23p) valid until 28 August 2017 but my TD Direct account does not show these rights. Whether they will have any value is obviously uncertain but I wonder if anyone on this thread has also held shares since August 2014 and has any knowledge of these rights.
SIXH bought its 22 million shares before 20.08.2014 and will presumably hold these rights too.