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TRYB Tribe Technology Plc

6.25
0.00 (0.00%)
09 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tribe Technology Plc LSE:TRYB London Ordinary Share GB00BMY63X13 ORD 0.05P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 6.25 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
6.00 6.50 6.25 6.25 6.25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Mng Machy, Eq, Ex Oil Field 504k -3.28M - -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 6.25 GBX

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Date Time Title Posts
15/4/202419:06Tribe Technology: Autonomous Mining Equipment 5

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Posted at 09/5/2024 09:20 by Tribe Technology Daily Update
Tribe Technology Plc is listed in the Mng Machy, Eq, Ex Oil Field sector of the London Stock Exchange with ticker TRYB. The last closing price for Tribe Technology was 6.25p.
Tribe Technology currently has 0 shares in issue. The market capitalisation of Tribe Technology is -.
This morning TRYB shares opened at 6.25p
Posted at 26/3/2024 17:25 by hedgehog 100
26/03/2024 11:35 RNS Regulatory News Tribe Technology PLC Result of Annual General Meeting LSE:TRYB Tribe Technology Plc

"Tribe Technology PLC (AIM: TRYB), a disruptive developer and manufacturer of autonomous mining equipment, is pleased to confirm that at the Company's Annual General Meeting ("AGM") held earlier today, all resolutions put to shareholders were passed on a poll. Resolutions 1 to 10 were passed as ordinary resolutions and resolution 11 was passed as a special resolution. The number of votes cast for and against each of the resolutions proposed, and the number of votes withheld, are set out in the table below. ...

Resolution 11 (Special)
To authorise the Directors to allot equity securities for cash otherwise than on a pre-emptive basis. ..."




TRYB has today fallen 0.5p (8%), from 6.25p to 5.75p, on volume of 45,000 shares traded.

That is now 42.5% down on its IPO price, just over six months ago.
Posted at 16/10/2023 15:12 by hedgehog 100
Some extracts from the Tribe Technology Admission Document, 30 August 2023:-

"Gross proceeds of the Fundraising £4,500,000
(excluding the Retail Subscription Shares)
Estimated net proceeds of the Fundraising2 £3,200,000"

"2 After deduction of estimated commissions, fees and expenses payable by the Group of approximately £1,300,000."

"Expected use of proceeds from the Fundraising
• Working Capital to fulfil existing order book and increase the Group’s level of inventory £3.8 million
• R&D to pursue the Group’s product and technology road map £0.2 million
• Operational/Sales expansion focusing on expanding engineering, sales, and support staff £0.6 million

15. Details of the Fundraising

The Placing and Subscription, which involves the EIS/VCT Placing, the General Placing and the Subscription, will raise gross proceeds for the Company of £4.5 million (before estimated expenses of approximately £1.3 million).

929,060 Retail Subscription Shares will be issued through the Retail Subscription at the Placing Price to raise gross proceeds of approximately £92,906 (before expenses). The Fundraising will raise in aggregate gross proceeds for the Company of £4.59 million.

Allenby Capital has, as agent for the Company pursuant to the Placing Agreement, conditionally agreed to use its reasonable endeavours to procure Placees for the Placing Shares at the Placing Price. The Placing Shares will be placed with a number of institutional and other investors introduced by Allenby Capital. The Placing has not been underwritten by Allenby Capital.

The Placing Shares represent approximately 17.75 per cent. of the Enlarged Share Capital and will raise gross proceeds for the Company of approximately £3.9 million (before estimated expenses of £1.3 million). On Admission the Company will have a market capitalisation of approximately £22.2 million at the Placing Price. ..."




I note that the "Expected use of proceeds from the Fundraising" figures shown add up to £4.6M., whereas only £3.2M. net is actually available after the IPO expenses etc.

And "gross proceeds for the Company of approximately £3.9 million (before estimated expenses of £1.3 million)" also appears to be wrong.

Though the expenses etc. of £1.3M. looks fairly standard from an IPO of this type.

From the Tan Delta Systems Admission Document, 11 August 2023:-

"Gross proceeds of the Placing receivable by the Company £6.0 million
Estimated net proceeds of the Placing receivable by the Company(2) £4.8 million"

"(2) After deduction of estimated commissions, fees and expenses (excluding VAT) of the Fundraising and Admission payable by the Company of approximately £1.2 million."
Posted at 09/10/2023 10:04 by hedgehog 100
Current share price 9th. October 2023: 9.625p
221,947,771 shares in issue
Market capitalisation: £21.362M.


"Automating the Toughest Tasks
Tribe Tech is a disruptive developer and manufacturer of autonomous mining equipment, incorporating our core proprietary IP, Tribe Technology Drilling System “TTDS”."



05/09/2023 07:00 UK Regulatory (RNS & others) Tribe Technology PLC Admission to AIM and First Day of Dealings LSE:TRYB Tribe Technology Plc

"Tribe Technology PLC, a disruptive developer and manufacturer of autonomous mining equipment, is pleased to announce that admission of its ordinary shares to trading on the AIM market of the London Stock Exchange will occur, and dealings in its ordinary shares will commence, at 8.00 a.m. today, Tuesday 5 September 2023 ("Admission"). Dealings in the shares will commence under the ticker "TRYB". The ISIN number is GB00BMY63X13 and the SEDOL is BMY63X1.

Admission highlights

-- Market capitalisation of approximately GBP22.2 million on admission

-- Successful fundraise of approximately GBP4.6 million (before expenses) at an issue price of 10 pence per ordinary share of 0.05 pence each in the share capital of the Company ("Ordinary Share")

-- Comprises of a placing and subscription of approximately GBP4.5 million and a retail subscription of approximately GBP0.1 million (together the "Fundraise")

The net proceeds of the Fundraise receivable by the Company will be used towards (i) fulfilling the existing order book and increase the Group's level of inventory, (ii) pursuing the Group's product and technology road map, and (iii) expanding engineering, sales, and support staff.

The Company is being advised by Allenby Capital Limited ("Allenby Capital"), who are acting as Nominated Adviser and Sole Broker.

Charlie King, Chief Executive Officer of Tribe Tech, commented:

"We are delighted to announce our admission to trading on AIM today. We believe that AIM is a natural fit for Tribe Tech, with its international investor base and proven track record for helping technology companies achieve their growth ambitions.

"Our technology is the solution to the reverse circulation (RC) drill rig market for improving efficiency and safety in the rapidly changing world. Today marks an important milestone for Tribe Tech. We are excited to be working towards the completion of our first autonomously operated drill rig later this year."

Background to the Group

Tribe Tech is a disruptive developer and manufacturer of autonomous mining equipment designed to improve productivity, reduce costs, and improves safety across the global industry. With the smart market mining size as a whole expected to reach US$23.05 billion by 2028, Tribe Tech is well positioned to be the leader in automotive drill rigs.

To date, reverse circulation ("RC") drilling has been characterised by a lack of automation due to the complexities of the systems required and the harsh conditions in which these machines operate. The Company's RC drill rigs are being developed to remove operators from the dangers that are involved in traditional RC drill rigs. The board of directors of the Company (the "Board") believe that time is a barrier to entry and has already invested extensive engineering hours in the development of the Tribe Tech Drill Rigs.

The Group has leveraged strong working relationships with key players globally and in Western Australia's Pilbara iron ore region to build market traction in its target customer base, ranging from contract drilling service companies to global mining operators and producers. The Company has secured firm orders in excess of GBP10.5 million, creating a strong commercial pipeline. Beyond its RC drill rigs, the Company is confident that it has the potential for a robust sales pipeline in relation to its sample system products, which can be sold on a stand-alone basis.

The Company's Admission Document is available to view on its website at www.tribetechgroup.com . ...

About Tribe Tech

Established in 2019, the Group was founded to create a safer, more efficient work environment through the development of fully autonomous reverse circulation drill rigs in the mining industry. The Group's core activities are the development, in-house manufacturing, and sale of its autonomous RC Drill Rigs incorporating its core proprietary intellectual property, the Tribe Technology Drilling System ("TTDS")"
Tribe Technology share price data is direct from the London Stock Exchange

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