Share Name Share Symbol Market Type Share ISIN Share Description
RM2 Int LSE:RM2 London Ordinary Share LU0994178464 ORD USD0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.25p 1.00p 1.50p 1.25p 1.25p 1.25p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 7.2 -42.8 -10.5 - 6.19

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Date Time Title Posts
20/2/201812:58RM2 - A Global Pallet Manufacturer725
06/1/201408:47NEW IPO26

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RM2 Int Daily Update: RM2 Int is listed in the General Retailers sector of the London Stock Exchange with ticker RM2. The last closing price for RM2 Int was 1.25p.
RM2 Int has a 4 week average price of 1.05p and a 12 week average price of 1.05p.
The 1 year high share price is 28.50p while the 1 year low share price is currently 1.05p.
There are currently 495,146,320 shares in issue and the average daily traded volume is 569,219 shares. The market capitalisation of RM2 Int is £6,189,329.
jaknife: The company is burning $1.4m a month (although the RNS also notes that $3.4m was burnt in Nov - the difference between unrestricted cash of $9.4m at 31 Oct 2017 and $6m of cash at the end of November) and seemingly has enough to last until the end of March next year. Let's assume that they need £25m of cash to get them through to cash flow break even. That seems a reasonable number being $1.4 more cash burn for 2 years. But then again is that a reasonable number bearing in mind how poor their track record for forecasting is? Going with the £25m number, the first point to note is that that's twice the current market cap of the company, which is a mere £12.5m. At the extreme, therefore, an investment of £25m at the current share price would involve letting the investor take 66% of the equity! However, that all fails to take into account Woodford's preference shares. They have priority ahead of the ordinary shares and that complicates matters. Why would you put fresh ordinary equity into the business when the biggest beneficiary of that equity would be the preference shareholders? So if you had £25m of spare change, liked the technology and were prepared to invest would you: A. Put money into some sort of equity instrument? Assume say that you can structure your investment such that it ranks ahead of the ordinary shares AND ahead of Woodford's preference shares but the prefs and ords have to stay. B. Let the company go into administration and agree a pre-pack deal or alternatively buy the assets that you like and leave the assets that you don't like behind. I'm afraid that the only sensible deal is option B, if a deal is done at all. Ultimately I think that RM2 is heading to zero. JakNife
walbrock82: Either this company is a dud or it went to the market at the wrong time. Nonetheless, they didn’t deliver for shareholders as shares are 75% lower than IPO’s price of 88 pence. Consider these two facts; - A. Since 2013, total operating loss came to $157m, or £120m; B. Cash balance went from $115m to $4m in two and a half years. We will know how much revenue has grown by late June. Despite the latest deal with Pactiv LLC, the share price didn’t response. To be honest, I expect further financing meaning more share price dilution! For more, check out the post which covers the following: Cost of a wooden pallet, the correlation between share price and cash, Neil Woodford, etc. ( Some people would argue that RM2 Intl. needs to reach an economy of scale for it to become profitable. That might be true, but we all know it is a long way off! For those who are evaluating RM2 Intl, ask yourself these questions: A. What is the breakeven point? B. How many sales does it need to produce annually to break even? C. Will the costs come down enough to make RM2 a viable investment proposition?
masurenguy: The most interesting angle in this article was the basic summary of the market potential for the new pallet and the strategy that RM2 are adopting in order to exploit it. "RM2 believes that its products will do more than 100 trips before they need to be repaired or recycled. Even the best wooden pallets rarely make 20 trips. RM2 came to AIM at the end of 2013, raising £137m to invest in the full-scale production plant that we are sitting on top of. For now, RM2 is targeting specialist markets: food producers, which need to clean pallets; shippers of high-tech, high-value components; the suppliers of healthcare products; and the beverage industry. Mr Walsh is drawing up plans to open two new factories in the US and the UK by the end of next year. A move to the main market is also planned for next year or early 2017. “AIM does function in that it gives early-stage companies the ability to raise money,” he says. “ But if you’re a company like mine with a market cap of £230m and you ask a market maker for a market, you will get a market in 10,000 shares, £7,000 [worth of] shares. “So you can have days when our share price can move 3 or 4% on less than £100,000 of volume. It is a bit ridiculous.” For now, though, the focus is on convincing potential customers of the benefits of the RM2 pallet. “We are part of progression,” Mr Walsh says. “The design of the pallet hasn’t changed for 75 years. How many products can you say that about?” Complete article here:
my retirement fund: Yes and note the reduced daily volume thus far indicating that the share price may have to appreciate fairly considerably from here to find a further level of liquidity since as has been pointed out, the tap seems to have gone.
paul the octopus: oopsy, whats up with the share price, or shall we say whats down? hey hang on where is the potential? there were plenty of director buys? surely revenus are stacking up now, right?hmm,
nw99: Share price doing the talking at the moment .
montynj: Share price is now short term very overbought...expect a 50% retracement of recent rally
mach100: I think a pallet needs to be put under the share price to prop up the share price. Can anyone see the bottom before I fork out for these>? Nothing gives me indigestion more than an unpalletable investment!
envirovision: They seem to be on their own, I guess someone has got to try to prop up the share price, although it's clearly not working thus far I'm sure it's help slow the relentless collapse of the share price. Let's put it on the worst case scenario if the directors end up buying the company out of administration in a few years or so for sweet fa, at least they won't have to feel so guilty about it!
wipo1: Yes I think this could be a good short. Good article by Robbie Burns(NT) One example is I looked at RM2, floated on AIM. It's in the pallet market. Pallets are big business and the company has some kind of more exciting pallets that last longer than others. But I just couldn't get excited about pallets. I know there's a decent recurring revenue and they will probably rent or sell quite a few. But my thinking was it's such a competitive market, another company could come out with an even better pallet and in any case how long is it going to take? A long time I suspect. Could I see the share price double up anytime soon? Not really. I'm all out of pallets.
RM2 Int share price data is direct from the London Stock Exchange
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