Proventec Share Discussion Threads

[jonwig] 11/7/2006 08:00

Hi KL.
Not yet - though the share price looks very tempting. REH my only recent buy, last week.

[katylied] 10/7/2006 22:10

jonwig, note from the results... The directors have also stated their intentions to dispose of the group's holding in Hardide plc...

Did you go long HDD again, or are you still out?...

[fse] 10/7/2006 14:24

Yes we dont really know that much about the new businesses thats true but the company does seem to be drawing focus on core activities which is usually good news and the increase in sales and costs ought to be justified.
Usually incorporating new business into a workable structure can have immediate extra costs associated but should be integrated fairly quickly and the costs savings will be apparent ....

I am still behind the game plan at the moment. Its not sending off warning bells and I feel the chance for improvement outweighs the uncertain issues.
Any rate I agree its a mixed picture

[katylied] 10/7/2006 14:11

I think you are wise to stay clear jonwig. At least the 'numbers' are clearer now. I'm only interested in how the new businesses are doing. Still a mixed picture. Turnover up substantially, but so are associated costs. These businesses still don't look worth anywhere near what was paid for them.

[jonwig] 10/7/2006 09:09

I don't feel particularly excited by these figures, though they are making a bottom line profit (eps 0.28p).

I see Keronite was sold for £0.5m with a potential uplift should they IPO higher - but they haven't said what the uplift will be pro rata. Their Keronite stake was valued at £0.6m at the interim stage.

The Ultra Motor stake will be sold, which makes commercial sense.

On the assets side, if you strip out the goodwill and increase the book value of investments (ie. cost) to the value given at the interim stage, there's backing of around 4p/sh.

Looking further ahead there's some dilution or financing problem in 2012, when the £10.5m loan note needs resolving through converson at 14p or, presumably, "we'll have our cash, please."

So anyone buying is trusting that the products and processes will be capable of amazing turnover and profits growth, as Shares Mag seems to believe.
I'm not quite there yet, but it's an intriguing possibility.

[orange1] 01/7/2006 20:35

They were but they haven't.
Launch now set for second half of this year:

[jonwig] 01/7/2006 07:35

Final Results on 10th; might just buy after I've read them (though done under IFRS, which I'm not up to speed on!).

I see they still have their Ultra Motor stake, great things were going to happen - by now, weren't they?

[fse] 01/7/2006 00:15

I am quite relaxed about these they appear to be headed in the right direction.

[quemaster] 30/6/2006 23:05

Nice to see some more trials for Biocote.



Thanks for the shares mag artical jonwig, there has been a bit of buying of late including a 400,000 buy @ 10p today. Hope this is the start of move back to pre wobble levels.

[fse] 31/5/2006 21:10

Katy you worry toooooo much !

[katylied] 26/5/2006 09:30

And now (post Keronite sale) PROV needs yet more cash.
The valuation put on the reverse-takeover businesses
continues to look as dodgy as ever...

[katylied] 20/5/2006 10:50

Yes of course. Heartlands Hospital is in Birmingham. doh!...

[rapier686] 19/5/2006 22:25

Yes it is Biocote. Transcript from the middle of the clip.

"It's not just cabinets that are covered with this material?"

"No, we've got a wide range of products with the Biocote technology from the door, curtains, curtain rails the bins...." (list drifts away)

"Unless we, someone actually takes the product, puts it in a real clinical environment and tests them how on earth can we say it's got a clinical benefit. Lots of these products will of course show real benefits in a laboratory setting but unless you actually get them into a clinic and show them in an environment where patients are, we will actually never know if they work" (Bethan Miles, Research Manager, Heartlands hospital)

[rapier686] 19/5/2006 22:15

It surely must be Biocote - for it would explain why after months of drifting and languishing someone wanted to buy 400k today and no doubt more had anyone been prepared to supply stock.

[katylied] 19/5/2006 20:36

Item on the 6pm BBC News tonight. Also on the BBC web-site (but the video is not working for me). About 'silver' and MRSA. Film showed blue powder beeing processed into paint, then used on (what looked like) metal storage cabinets. Refered to a NHS trust trial (I think it said Birmingham). Never once mentioned who was behind the trial, but was quite upbeat about combating MRSA. If this is not Biocote, then they should worry, as it appeared to be identical technology. Frankly, for anyone who has followed Biocote, the whole report was rather bizarre. Why the 6 o'clock news? What has happened to make this so suddenly topical? Was the story a plant? If so, to what purpose? As BugsBunny often remarked...WHATS UP DOC!!!...

[jonwig] 28/4/2006 14:24

Although Keronite is no longer an involvement of FLT (sorry ... PROV) some holders may want to keep abreast of Keronite developments, as an IPO is expected in due course.
Here it is:

[wowy] 14/3/2006 22:35

I would assume they have sold for more than their previous indicated valuation, given that keronite is heading towards floatation. Therefore in excess of 600K, how much more we will know when the results are released.

My assumption is that they have withheld the value for commercial reasons and given the limited time they can conceal the information as the year end is in two weeks and the results likely in the next 3 – 4 months, the commercial reason must be a current negotiation.

If I was negotiating either an exit from ultra motor or a purchase of another investor's holding in Biocote or Firestop I would not want the financial details of a similar transaction disclosed.

I maybe right, I maybe wrong, and maybe we won't find out why they did not disclose the information at this stage.

That's what investing in high risk small caps is about, reading the information having an opinion.

[orange1] 14/3/2006 20:26

kallista

In my book undisclosed sum is a metaphor for a small insignificant sum that noone really cares about.
The same terminology is used with regard to football transfers: Michael Essien moved to Chelsea from Lyon for stg 24 mio. Joe Clogger moved from Peterborough to Bristol Rovers for an undisclosed sum. Maybe I am being nduly cynical but the sum concerned will have to be revealed in the accounts.

[kallista] 14/3/2006 18:01

Wowy

Sorry. I don't follow.
They have sold a holding in Keronite for x pounds.
They may well use the proceeds for an aquisition, bolster the balance sheet or a chinese takeaway. BUT THAT DOESN'T STOP THEM REVEALING THE SUM INVOLVED.

Now come on.

[wowy] 14/3/2006 12:40

Not if they are negotiating a acquisition, which may support the buyout of another holder in Biocaote and Firestop.

[kallista] 14/3/2006 09:27

Can't understand the undisclosed sum part of it.
The shareholders are entitled to know the details of any transaction and the company is obliged to keep them fully informed.
Surely?

[wowy] 14/3/2006 08:27

Maybe buyout of other Biocote holders or Firestop, maybe both

[orange1] 14/3/2006 07:51

Don't think they are short of cash with the recent loan re-structuring and now this. Everything points to the new acquisition which was being talked about.

[jonwig] 14/3/2006 07:43

Sold off the Keronite stake:

Proventec Plc (AIM:PROV), a provider of specialist steam cleaning and coatings
technologies, today announces that it has sold its 12.57 per cent. holding in
Keronite plc ('Keronite') for an undisclosed sum, following the Company's stated
strategy of exiting its non-core investments.



But they'd have got more by waiting post-float I imagine.
Short of cash?

Hardide stake could be sold from next month, I think.
Ultra-Motor of dubious value, and Biocote will be retained.

So investors in this will have no excuses now...