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TWD Trackwise Designs Plc

0.175
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Trackwise Designs Plc LSE:TWD London Ordinary Share GB00BFYT9999 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.175 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.175 GBX

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Date Time Title Posts
22/1/202423:42Trackwise Designs Plc (with charts)1,897
30/3/202308:23Trade Winds Ventures, Gold Explorer on TSX8
02/10/200715:12Trade Winds Ventures and Associated Co's10
28/12/200100:09TDWaterhouse-down1

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Posted at 22/1/2024 17:47 by az2517
Thanks very much for the insight.So probably best to just treat it as a painful lesson learned.So TWD bosses just wrecked it to the ground and the PIs take the hit.
Posted at 22/1/2024 13:30 by az2517
I was asked by AJ Bell to move the shares from my ISA to trading account, back in September when the twd was kicked out of AIM.My question from expert pals here is:Am I able to sell the shares in order to reclaim the loss on my tax?Any help and advice is highly appreciated.Cheers
Posted at 21/11/2023 11:54 by cliffpeat
See Administrator filings.

TWD shares are valueless.



Trackwise News
As of 31st October 2023, Trackwise is now Amphenol Trackwise Designs Limited (a private limited company registered in England and Wales with registered number 15231302; registered office at Thanet Way, Tankerton, Whitstable, Kent, United Kingdom, CT5 3JF), part of the Amphenol Harsh Environment Division – strengthening the overall Amphenol PCB and FPC capabilities of Amphenol Sincere, Amphenol Invotec and Amphenol Printed Circuits."
Posted at 02/8/2023 17:05 by sclgoffer
Sorry no party as all our income was passed on TWD each month.

Very sad for all the shop floor workers at TWD.

Good luck to them ( but not to the BOD)
Posted at 02/8/2023 00:19 by ales dange
Hi welive, well I can’t comment on Mr Bukake or the managements exploits at Stevenage, albeit they do not appear to have performed at all well over the past 12 months or they wouldn’t have been put up for sale or lost a lot of money. But if they are making statements outside of an RNS, especially relating to TWD or the group, then they sure had better be prepared for the consequences. Statements about listed companies are strictly for public domain on LSE. As a company with clear association to TWD (mentioned in their own 2021year end filing) they have to abide by regulatory standards. I’m sure they and us investors will find out soon enough. Right it’s late afternoon here and 30 degrees so I’m going to hop into the pool before going out with the family for a meal. Enjoy all & keep us informed.
Posted at 18/7/2023 13:47 by weliveliketrumpatstonehouse
Ales, it seems its all gone quiet. I have read the lse site and hope surely most of those posts are incorrect. I don't believe Stevenage is sold yet but think a new management team will be called for if it is sold. They were given funding, staff and full support from twd but it's tanked. I just can't see twd getting what they paid for it which is pretty bad given they were industry leaders at time of purchase I was told. Just shows doesn't it you need a good team and that starts from the top. Looking forward to the accounts being published and Stevenage getting dumped so we can move on and get orders in at twd.
Posted at 19/6/2023 11:03 by ales dange
Exactly pinkfoot, the accounts are audited and verified before being submitted. They clearly show intercompany loans between TWD and Stevenage! They also clearly show the Stevenage site is losing money which is why TWD feel they have run their course and have decided to cut their losses and sell them. Hopefully they get sold, but accounts don't lie and I wouldn't want to put my hard earned cash betting that they will.

SCLGoffer, I sense your frustrated with TWD, but they have until recently supported Stevenage financially whilst still trying to build the new IHT factory. Looking at the accounts TWD have bailed you out on an almost monthly basis, this is factual and I am not sure what your position is within the Stevenage company, but maybe you have been kept in the dark and are only told information that the management team deem essential. Think logically SCLGoffer, No company will sell a thriving business, or one with scope to grow, so why are TWD?
Posted at 08/6/2023 13:19 by ales dange
I have to say weliveliketrump, you could well be right, it does seem very much a cloak & dagger scenario, only not as exciting!! I did check on the history and Stevenage does have longevity on its side, which makes it even more surprising considering TWD couldn't make it work. Maybe the new MD hasn't performed, maybe getting rid of the whole management team and starting again is the solution. I have friends who work in the electronics sector and they do say there is a plethora of PCB board shops in the UK who are very good, maybe that is a factor. Who knows for sure as we certainly aren't being kept updated. All I do know is that the share price isn't responding positively and you can practically buy the whole of TWD for less than a used Toyota Prius!
Posted at 04/5/2023 17:36 by sclgoffer
Sorry but you’re wrong about the loan was from TWD to SCL…the payment was sent from SCL to TWD! I have seen the figures.
This is a typical smokescreen by TWD, just to get new investors to sign up in the hope that TWD can get some sort of orders to come out of Stonehenge.
Posted at 07/1/2023 01:48 by timbo003
………

The meeting to approve the recent fund raise and to change the articles of association took place on Friday (Jan 7th 2023) at the Company’s HQ at Tewksbury. I was the only retail shareholder attending (which came as no surprise), there were three directors present (Philip Johnston, Paul Cook and Charles Cattaneo) and two other directors joined via video link (Ian Griffiths and Susan McErlain), there was also a representative from Equiniti and an assistant taking minutes. Charles Cattaneo chaired the meeting.

The formal part of the meeting to vote on the resolutions took about 10 minutes. All resolutions were passed with approximately 21m votes in favour and 2.4m against for all the resolutions except resolution 3, where the votes were approximately 18.2M in favour and 4m against.


The Q&As session that followed lasted for about 40 minutes during which time just about all of my questions (listed below in no particular order) were answered:


What circumstances lead to the placing being offered at just 1 pence and please explain how you can reconcile not obtaining a higher price than 1p/share with the recent RNS announcing that there was “exceptional demand” (at 1 pence/share)?

The BOD explained that the funding road show commenced in September and it was an extensive process, the initial rounds involved obtaining expressions of interest from potential investors without any detailed discussions of pricing, this initial process indicated a likely short fall in the amount required and it was only later in the process when the size of the likely discount became apparent, it was in effect the last substantial investor to commit which dictated the price and ensured that sufficient funds could be raised, this investor had held the shares previously, but had now sold out (note: readers should be able to work out who they are from that). The warrants were introduced as a result of another (different) investor’s insistence.


Was the open offer oversubscribed/undersubscribed?

It was undersubscribed with around 34% uptake, so excess application will be met in full. The CFO commented that the OO funds were not considered essential to execute the plan, but they would provide a contingency cushion should it be needed.


Can you add a bit of colour to the circumstances that lead to the share suspension?

The BOD or Finncap did not request the suspension and it was entirely down to the LSE. The BOD believes the suspension during this fund raise could have deterred many shareholders participating in the open offer as they may have been spooked (suspensions in the UK are unusual and are generally not good news for shareholders). I opined that in some jurisdictions (for example Australia) listed shares are automatically suspended during a fund raiser and investors had become accustomed to this and perhaps it wouldn’t be a bad thing if the same procedure was followed here in the UK, no one appeared to disagree.


What impact would there be on Trackwise’s future if the UK EV OEM who has just made the £3.99m cash advance as part payment for the battery connector contract was unable to pay the balance outstanding once the contract has been fulfilled?

It would not be good news, although the company have had assurances from the UK EV OEM that it will have sufficient cash (without needing to raise further funds) to pay the balance in the agreed timeline. PJ added that has been checking the share price and SEC announcements of the OEM on a daily basis. (EV OEM share price and SEC filings available here: )


What other methods of funding did you explore instead of the discounted placing, for example selling Stevenage Circuits, attracting a strategic investor/partner etc.?

We had some forthright discussions with the UK EV OEM as their problems had been the main reason for our financial stress and we ended up with the revised terms for the contract, we argued for more but the OEM was itself constrained financially, We also look at other funding solutions, including getting a strategic investor on board, but it was difficult to get traction, exacerbated by the volatile political and currency situation at the time. Selling the Stevenage Circuits business would not have produced sufficient funds, so was not considered an option.


Has there been any pressure from new investors for PJ to step down as CEO?

Pressure is probably not the right word, there have been discussions around succession planning (PJ is approaching 60 years old so will not be around forever) and the two new directors joining the BOD will most likely play a part in that.


What sort of investors participated in the placing, were they generally new investors or existing investors, would you describe them as long term or short term? Did any VCTs participate?

There should be a number of TR1 announcements with familiar names, no VCTs or EIS funds participated in this round as the company has reached the ceiling for funds available under the EIS/VCT scheme.


How close are you to fully commissioning the facility at Stonegate and do you have the capacity to produce all the material you would like to sell through winning the pipeline contracts outlined in the offer document (offer document: )

The Stonegate facility is not yet fully commissioned, but it will have the capacity to fulfil the order from the UK EV OEM to the agreed timings (July 2023). It will achieve this running just a single shift. Capacity could easily be increased 3X with very little extra Capex by increasing to three shifts/day. Furthermore, there is spare space in the facility to install additional plant to double capacity for each shift but needless to say, this would require additional investment.


In the offer document you talk about re-incentivising directors and employees with revised share option and share save schemes when are you planning to do this?

Yes, this is in hand and it was considered an important requirement by one of the major investors in the placing.


Given that IHT technology is proprietary and protected by certain IP, where are the numerous EV OEMs listed in the offer document expecting to source there battery connectors if it is not from Trackwise?

The battery connectors that are of interest to the various EV OEMs listed in the offer document are not reliant on the IP described in the IHT patents from 2012, but do employ other IP such as knowhow and trade secrets, so it is unlikely that Trackwise will be sending any cease and desist letters to competitors who supply EV OEM with battery connectors. They have however sent such letters to competitors who they suspect are infringing Trackwise patents when supplying IHT type products to the aerospace industry. There is a big number for intangibles in the accounts which the auditors question from time to time, but in our view it is justified on the basis of the extensive IP and knowhow.


Are you still planning to hold a Capital Market day for shareholders and investors sometime this year?

Yes, the intention is to run an event later in the year at the new facility at Stonegate.

………
Trackwise Designs share price data is direct from the London Stock Exchange

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