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SCE Surface Transforms Plc

-0.25 (-2.27%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Surface Transforms Plc LSE:SCE London Ordinary Share GB0002892528 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.25 -2.27% 10.75 937,020 12:52:19
Bid Price Offer Price High Price Low Price Open Price
10.50 11.00 11.00 10.75 11.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Engineering Services 5.12M -4.78M -0.0198 -5.43 25.99M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:11:21 O 100,000 11.00 GBX

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Posted at 03/12/2023 08:20 by Surface Transforms Daily Update
Surface Transforms Plc is listed in the Engineering Services sector of the London Stock Exchange with ticker SCE. The last closing price for Surface Transforms was 11p.
Surface Transforms currently has 241,733,233 shares in issue. The market capitalisation of Surface Transforms is £25,986,323.
Surface Transforms has a price to earnings ratio (PE ratio) of -5.43.
This morning SCE shares opened at 11p
Posted at 01/12/2023 17:44 by glyn10
Whatever the company said (or did not say) in the presentation, they were always going to get cained by those bitter armchair experts who could have done a lot better.

I like most have lost a fair chunk of cash but as Cheese has rightly saidly said don't invest what you can't afford to lose. Am I happy, no I am not.

It is way to easy to blame the management, yes the hold blame, certainly the dodgy forecasting should have been avoided. Otherwise they are just an easy target.For the most part the problem has been the manufacturing process/equipment failiure which is typical of new manufacturing processes and equipment.

Some have said that it is very simple, well its not! If it was everyone would be making carbon fibre brake discs and they aren't. These are new processes, bespoke/modified equipment being used with more throughput than before, with the best will in the world sh1t happens, things go wrong they are called teething problems.

If you are unhappy with current circumstances I don't blame you,but constantly whinging on and on changes nothing. Either sell up and take it on the chin or suck it up and accept we are where we are and wait for the share price to improve as it will do. The share price will improve, it may take longer than we previously hoped, but thats life trading on aim.
Posted at 24/11/2023 14:45 by supernumerary
ftm - you're beginning to sound merely vindictive. Why am I reminded of your posting on Angle?

TrickyD - I think you'd find that quite a few posters here have experience of building significant companies from scratch, some of us even doing it while making a profit for shareholders and without external investment.

You presumably have more experience than most in apportioning blame, but from a lifetime spent living and working throughout the world (and a 30-second glance at the newspapers) I'd say that apportioning blame is a universal trait - absolutely nothing uniquely British about it. I also think it's a useful exercise if accurate - if you don't know who or what has caused a problem, how do you fix it? It's certainly a lot more productive than your proposed descent into willy-waving.

Ignoring the blather about non-zero possibilities, save to say that they are infinite, I do not think that this bears comparison with Tesla. I suggest you check Elon Musk's cv then compare it with that of any of the SCE management - you may just change your mind.

bones - 'The share price ought to make a gradual ascent thereafter throughout 2024.' That word 'ought' is in my view inadvisable. It's an ineluctable fact of life on AIM that in the absence of news, a share price will fall, and the management here has so far not felt it worthwhile to bother releasing news, with the inevitable result. I actually get more and more regular information from Riversimple than from ST!

I'm hoping that the larger inside shareholders, who perhaps have more influence than we minnows, will persuade them to release quarterly KPIs, with regular updates in between. They have great ESG credentials - why on earth don't they make more of it? Where's the newsletter with reports from their distributors, and end-users on the track? Why not the occasional interview with a CEO from one of their non-anonymous customers? Anything to keep interest alive - it's the oxygen of small-scale investments.
Posted at 23/11/2023 17:05 by bones
The share price should now remain dormant at 10p bid until the open offer is dispensed with in mid-December. MM’s are no longer prepared to buy your shares above 10p if all you do is buy them back for 10p from the company in the open offer. Meanwhile, new investors can buy in to the speculation or investment at a price close to it.

The company will then be cashed up and free to crack on. The share price ought to make a gradual ascent thereafter throughout 2024. I think that will happen. The worst of the production teething issues and lack of resilience are gradually being removed from the equation and that’s regardless of who sits on the board. There will be more resilience and back up in place to reduce the incidence of bottlenecks.

These shares are now in the bottom drawer while I celebrate Christmas and the New Year.
Posted at 14/11/2023 20:36 by bones
The loan won’t be finally passed through until all the resolutions get passed in mid December clearing the conditional raise element of £6M and open offer of £2M (or more). The loan is not needed or applicable until 2024 onward.

On the question of whether investors should buy in the market or take the open offer, I cannot agree on not taking the offer. Take it to the logical extreme, with everyone who might want the open offer but doesn’t want to further “dilute” themselves. If no one took up the OO, the company would have £2M less in cash than if everyone took it. That £2M could fund the wages of maybe 10 engineers for five years, which would make a huge difference for SCE. I would argue that those additional employees would add a lot more value to the company than the £2M cash spent on them.

By ensuring the company doesn’t issue an extra 20M shares by a total boycott of the OO, what will you save yourself in the share price in so-called dilution?

If open offer fully taken up, 340M shares x 10p = £34M market cap.

If you assume same market cap but no open offer take up, your share price might then be £34M / 320M (no open offer shares issued), giving you a share price of 10.625p.

I would say that halfpenny or so is little reward for sacrificing the possibilities for SCE to use the additional £2M and the added value that £2M could generate in faster output. In turn, that would boost the company valuation.

Hopefully they will raise more than the £2M, but that depends on how many investors don’t look at the longer picture.

Just my opinion though…..
Posted at 08/11/2023 16:26 by bones698
Reading a couple of comments
A possible investor buying a stake to fund the company . Why would a company take a stake at anything over the current share price ? Also how long do you think it would take to negotiate and pen such a deal ? Imo this is unlikely and would likely take too long to complete meaning sce would risk running out of money with potentially fatal consequences .

Potential takeover
With the share price falling and things likely to change in the boardroom . The share price falling why wouldn't you wait and see how low it goes or even short the shares to drive it lower so you could make an even lower bid ? This just looks unlikely and desperate from a few pis hoping .
Posted at 08/11/2023 00:55 by bones698
Either of the things you suggest will take time to sort out at which point it may be too late as funding is required sooner than those allow for.
A new CEO and CFO will take some time to settle in and then have a funding issue to negotiate .
Going to an OEM asking for some cash whilst may be the least dilutive and damaging option doesn't look good to the manufacturer and would take many months to negotiate and get to the point of signing which carries risks if they pulled out and thought about getting the whole of sce on the cheap .

The negatives were provided by the last update but no solutions offered ,no coatings or time lines . Whilst there are so many questions and not enough answers this is going to come under increasing pressure share price wise . People won't believe vague answers only facts that things have been sorted and finances are dealt with . Anything else just creates more doubts. .

In the meantime while tha bove play out the chart tells you everything you need to know. The share price is heading lower and looks pretty dire at this point . I'll stick to my 10p target in the coming months and until news on the issues and funding come out.
All the smas are pointing downward and accelerating currently so in the absence of news the share price will follow them
Posted at 03/11/2023 09:19 by rivaldo
There's many a slip 'twixt the cup and the lip....or something like that.

Given the share price slippage today's news was predictable for those with a cynical outlook.

Nevertheless, with many years of know-how and experience now in terms of perfecting the product, a huge order pipeline, only one competitor globally, and an increasing need for their products, SCE remain in an enviable position.

For newbies and those looking to top up this is an ideal oportunity imo.

Let's hope the cap.ex facility is successfully concluded with at worst a small-ish fundraising and/or other financing for working capital. As someone stated above, if the OEMs are as keen on SCE's products as they appear to be, then surely they should be prepared to finance the incredibly small sums (by their standards) necessary at a few % above base rate were SCE to approach them.
Posted at 03/11/2023 07:38 by jojaken
Just needs to merge with a company like SDI who should have the cash flow to support SCE with the working capital needs. Would be a win-win all round. As an SDI long- term shareholder I'd be happy to combine my holdings. Not sure how damaging another cash raise would be. Holders here could just be left vulnerable to one of several undesirable scenarios set at a ridiculous price.

But something certainly needs to be done soon to stop this drip drip of share price destruction.
Posted at 18/10/2023 10:55 by fevertreeman
You may recall that for a brief period Johnson had a consultant in to look over the manufacturing operations, none other than Phil Wild ex-CEO of James Cropper.....not soon after one Isabelle Maddock jumped ship after 9 years as CFO at Cropper to SCE. Perhaps the conversation went like this:

PW "Isabelle, it's Phil, look I've found an incredible opportunity for you Surface Transforms - a world-class tech business hidden away in Liverpool that amazingly is only one of 2 suppliers of next-gen ceramic brakes to global OEMs!"

IM "Phil, why would I do that? Cropper is a decent international business; ok its a tad dull but I get well looked after, I travel, and its not that stressful...from what I can see of SCE its going to struggle to fund its growth, and with rates rising why would I jump ship only to find myself having to constantly chase cash?"

PW: " Isabelle, listen to me. That's the point. SCE is worth multiples of its current share price, and the OEMs know that. You'renever gonna get another chance like this to get in on the ground floor and make a bundle. There are risks - their operational management has been poor, too optimistic on messaging & they really dont understand hthe stock market, and they will need more funding....but the order book is huge, the tech is unbelievable, and the valuation is absurd. I've seen it for myself..."

IM "So you think what.... 24 month horizon? Get loaded up with share options and either investors wake up to the opportunity (they need proper financial PR and US holders)& share price responds, or private equity or a auto parts group snaps it up. Isee what you mean downside limited , upside enormous.

PW: "That's it. And by the way, I reckon this is worth at least 3 times the current share price based on the client base and current order book..and I reckon the PE boys know that too"

IM:" OK Phil, I'll have a proper look, and talk with a few people..."
Posted at 04/10/2023 08:04 by cheese666
I added again yesterday. Another £10k in addition to £10k top up last week. It's cheap at this level. Some one is selling, therefore depressing the price even further. Once that's over, and we have better figures in a few months time, this level will look like a bargain.
A decent contract announcement might not help the share price but, it's obviously fantastic for the business, which is the main concern and will feed through to the share price in time.
Surface Transforms share price data is direct from the London Stock Exchange

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