Tristel Share Discussion Threads

[mach100] 15/12/2020 15:00

Well Piedro there seems some dissatisfaction among shareholders with 2 resolutions not fully endorsed. Good to see the Board prompted into action albeit cosmetic. I doubt we will see culture change at TSTL and they have delivered in share price terms though we may have plateaued at 510p. It probably wont prove much of a sop to investors but not sure where they can go from here except more naysaying on resolutions.

[piedro] 04/12/2020 10:09

AB Dynamics, ABDP, a company with market cap. of £400m and turnover of £60m, who also won one of those AIM awards, has recently announced the 'Grant of LTIP Awards' for their Directive.

Interesting to make the comparison ... share price £18


... if you dare !

[piedro] 03/12/2020 07:34

Appendix I

Tristel plc Executive Performance Share Plan 2021

Background
The remuneration committee of the board of directors of the Company (the “Remuneration Committee”) proposes the introduction of a new long term incentive arrangement, the Tristel plc Executive Performance Share Plan 2021 (the "Plan").

The Plan has been designed to reflect the main elements and related features of the Executive Performance Share Plan 2018 (the "2018 Plan") but with appropriate updates with regard to latest best practice expectations and proposed performance conditions aligned to growth over a measurement period ending 30 June 2024. No further awards will be made under the 2018 Plan.

Resolution 12 seeks shareholder approval for the Plan ("Approval").

Material terms of the Plan and the proposed options
The following is a summary of the material terms of the Plan and the options proposed to be granted under the Plan. This summary is qualified in its entirety by the full text of the Plan and of the proposed option agreements, copies of which are available for inspection on the Company's website at

1. Eligibility
Any executive director of the Company will be eligible to participate in the Plan.

2. Form of Awards
Awards under the Plan will be in the form of options to acquire Ordinary Shares at a price of £0.01 per Ordinary Share ("Option").

3. Performance conditions
3.1 The exercise of Options will be subject to the satisfaction of objective performance conditions which will determine the proportion (if any) of the Option that will vest.

3.2 A performance condition may be amended or substituted if one or more events occur which cause the Remuneration Committee to consider that an amended or substituted performance condition would be more appropriate. Any amended or substituted performance condition must not be materially less difficult to satisfy.

3.3 The extent to which one half of the Ordinary Shares comprising each Option may vest will be dependent on the Company’s adjusted profit before tax (“PBT”) for the financial year ending 30 June 2024 (“FY24”). PBT will be the profit before tax before deduction of IFRS2 share-based payment charges in the relevant financial statements. Options will normally vest as follows:

PBT for FY24 ............................... Vesting %
Below £10 million .......................... 0%
£10 million to £10.40 million .............. Pro-rata 25% to 75%
£10.40 million to £10.95 million ........... Pro-rata 75% to 95%
£10.95 million to £11.50 million ........... Pro-rata 95% to 100%
£11.50 million or higher ................... 100%

3.4 The extent to which the other half of the Ordinary Shares comprising each Option may vest will be dependent Company’s share price growth performance from the average share price over the period 19 October 2020 to (and including) 13 December 2020 (the “Base Price”) to the average share price over the last three months of FY24. Options will normally vest as follows:

Growth from Base Price ..................... Vesting %
Below 20% .................................. 0%
20% to 30% ................................. Pro rata 25% to 50%
30% to 50% ................................. Pro rata 50% to 100
50% or higher .............................. 100%

4. Grant of Options
Subject to Approval, the Remuneration Committee proposes to grant Options for the benefit of the Company’s executive directors as follows:

Executive Directors ........................ Number of Ordinary Shares under Option
Paul Swinney, Chief Executive .............. 500,000
Elizabeth Dixon, Finance Director .......... 200,000
Bart Leemans, Executive Director ........... 100,000

No other Options will be granted under the Plan nor are any awards expected to be made to the executive directors under any other long-term incentive plan arrangement until following the announcement of the Company’s results for FY24.

5. Terms of Options
Options will be granted over newly issued Ordinary Shares. Options are not transferable (other than on death). No payment will be required for the grant of an Option. Options will not form part of pensionable earnings.

6. Vesting and exercise
6.1 Options will normally vest on the date that the performance conditions are met, and remain exercisable until the tenth anniversary of their grant date.

6.2 Option holders who exercise Options are normally required to hold the resulting Ordinary Shares, net of tax, until the first anniversary of the vesting of the Option.

7. Cessation of employment
7.1 If a participant ceases to be an employee of the Company by reason of death, disability, injury, ill-health redundancy, retirement, their employing company or the business for which they work being sold out of the group or in any other circumstances at the discretion of the Remuneration Committee, the Option shall not lapse. In such circumstances vested Options shall remain exercisable for 12 months and unvested Options shall continue to be capable of vesting on normal timetable and then be exercisable for 12 months. The extent to which an Option will vest will be determined by: (i) the extent to which the performance conditions are met at the end of the performance period; and (ii) unless the Remuneration Committee determine otherwise, pro-rating to the reflect the period from the start of the normal vesting period until the date of cessation. The Remuneration Committee may instead test the performance conditions at an earlier date (and the Options may vest earlier). Performance conditions will continue to apply in all circumstances but performance may be assessed on such basis as the Remuneration Committee considers appropriate if tested early.

7.2 If a participant ceases to be an employee of the Company in circumstances other than those mentioned above, the Option will lapse on the expiry of the period of 28 days from the date that the participant ceased to be an employee of the Company and will only be exercisable to the extent vested.

8. Change of control
In the event of a change of control of the Company, Options will vest and be exercisable to the extent to which the performance conditions are achieved over the shortened period as determined by the Remuneration Committee on such basis as it considers appropriate, which may include regard to forecasted performance. Scaling back of the size of the Option by reference to time elapsed into the normal vesting period will also apply unless the Remuneration Committee considers applying the pro-rata scaling back of the Option to lesser extent or not at all.

9. Adjustments
In the event of a variation of the Company's share capital or a rights issue, open offer or other event, which may, in the Remuneration Committee's opinion, affect the current or future value of Ordinary Shares, the number of Ordinary Shares subject to an Option and/or the performance condition attached to Options, may be adjusted.

10. Malus and Clawback
The Remuneration Committee may apply the Plan’s malus and clawback provisions if, at any point prior to the third anniversary of the date of vesting of an Option, it is discovered that there has been a material restatement of the Company’s accounts, an error in assessing a performance condition, or in the event of serious misconduct on the part of the Option holder, material reputational damage to or corporate failure/insolvency of any Group company. The clawback may be satisfied by way of a reduction in the amount of any future bonus, subsisting award or future share awards and/or a requirement to make a cash payment.

11. Amendment
The Remuneration Committee may amend the Plan or the terms of any Option at any time, provided that no amendment shall be made which shall materially and adversely affect the rights of an Option holder as regards an Option granted prior to the amendment being made.

[piedro] 02/12/2020 11:32

As the years get longer, the bumps disappear ...



... growth in 'turnover' has been consistent

[metis20] 02/12/2020 11:31

Very well deserved IMO

[piedro] 02/12/2020 11:29

Well done Tristel

Tristel wins AIM Growth Business of the Year Award
Tristel plc (AIM: TSTL), the manufacturer of infection prevention products, announces that it has won 'AIM Growth Business of the Year Award' at this year's 2020 AIM Awards, which was held as a digital campaign due to COVID-19, from 30 November to the 2 December 2020.

This award recognises Tristel's consistent growth in turnover and profit since its IPO in 2005, which the Company has succeeded in maintaining through this year's trying market conditions. .... ....

[zimbtrader] 25/11/2020 16:32

Perhaps more towards luck than deliberate timing! Have done this a lot with TSTL and always feel quite sad when I sell them and a bit nervous when I rebuy. I suspect a chance will come in the next few months sub 450.

[paraguay] 25/11/2020 13:30

Seems like a good call your sell. Well done. I holding patiently for now.

[zimbtrader] 25/11/2020 11:33

Sold off my entire holding last Friday at 524.8 and will still get the Divided. This needs positive US news and sustained global growth to push it to the next level.Hope to get back in sub 450 if it continues to slip down over the coming few months.

[paraguay] 12/11/2020 21:58

Ticking up nice and steady. Staying under the radar of the silly brigade. Just how I like it. Nobby no mates here on my tod.

[paulisi] 07/11/2020 08:28

Huge areas for growth.With India now on board and China the potential is huge. Then don't forget US and Canada after that once approval gained.This will be a growth company for a few years yet.

[james188] 05/11/2020 16:00

Maybe a number of investors also read the company's Q&A recently published and saw the clear potential for continued growth in a number of markets.

In the UK, I can envisage that there may be a repeat drop in medical instrument disinfectant orders from the NHS, as non-urgent procedures are once again suspended, but surface disinfectant demand will hopefully more than compensate, as before.

I hope that TSTL continues to underpromise and overdeliver. I think that huge potential remains.

[mach100] 05/11/2020 15:33

530p on the ask now which must be an ATH. Momentum building nicely. I think it may be partly spurred by the fact that NHS appointments will surely not be postponed or cancelled as much as in LD1. Heady but worth it for a company that is in the best arena in these uncertain times.

[davidosh] 02/11/2020 14:32

It is good that the results and Q&A are now available to look at closely. The MelloMonday BASH will feature Tristel this month on the 9th November and I think shareholders and potential investors will appreciate the analysis.

The Mello Monday event starts at 6pm
The full programme is available on the website. In the MelloBASH... The analysts, fund manager and well known investors on the panel will give their honest verdicts on whether four/five companies are a Buy Avoid Sell or Hold at this current juncture in the markets.



All investors welcome and if you use the code MMV5 you will get a half price ticket. Great investor content and entertainment. We had nearly 400 investors attend last month so these are very popular.

[piedro] 02/11/2020 14:25

Tristel Final Results – Shareholder Q&A

Question 4
What is the next major market that will start generating additional revenues and when?
The next major market that will start generating revenue from scratch will be India, during the current financial year.



- great news ... IMO.

[piedro] 29/10/2020 10:13

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SARS-CoV-2, the virus responsible for the
COVID-19 pandemic, in 30 seconds.

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[apad] 23/10/2020 16:34

Nicely put, mighunter.
Let's keep the politesse 😊
apad

[james188] 23/10/2020 14:51

I also take the view that ongoing reevaluation of the pros and cons of a share is necessary, particularly when seismic events - such as those we are experiencing at the moment - occur.

New products will inevitably appear over time, but it will be a relatively long haul before they are approved by the main regulatory authorities. Look at what TSTL are going through in the US with the FDA for products that have been widely approved in numerous other jurisdictions. After that, health authorities and other consumers have to be persuaded to switch from products that have been heavily scrutinised and approved.

Surely it would be easier for one of the bigger players to simply acquire TSTL. That has to be the most likely endgame. The US is not the be-all and end-all, but it is one of the most obvious jurisdictions from which a buyer may emerge.

I wonder if that is one of the main reasons that TSTL has decided to really ramp up its approval programmes with both the FDA and the EPA. It is not that long ago - less than twelve months,I believe - that TSTL scaled back the number of products in its FDA programme. At that point, the focus was all about Duo for ultrasound devices. Based on the final results and the supporting presentation earlier this week, it now appears that the US programme is receiving a big push, with a substantially increased supporting budget. Interesting times.

[piedro] 23/10/2020 13:02

LOL,

mighunter, correct I started this thread in 2008 and started contributing a couple of years earlier.

You will note that I subscribed "AIMHO" which indicates that I am expressing my opinion.

Why after all this time?
Basically, TSTL have started plugging their "moat"
- IMO

[hydrus] 23/10/2020 13:00

Ignore that please Piedro. Your posts are insightful and it is always good to challenge yourself to find potential negatives with your holdings.

[mighunter] 23/10/2020 12:29

Piedro, a 2 second search of your post history shows you posting on TSTL as early as 2008 - if not before. Why you ask the basic questions you initially have, when the answers have been freely available to seek in those intervening 12 years, I do not know. So what credible information do you actually possess, leading you to suggest that other companies could already be in the process of adopting similar technology.... and further, what proof do you have of it being maybe in a year. And why now rather than any other point in your 12 year history posting on TSTL, as your argument certainly hasn't come true in that timeframe. If you're going to suggest such speculative hunches, it'll need a better explanation you stating that the dinosaurs are now extinct.

[piedro] 23/10/2020 12:08

... they'll be accusing me of hogging too much space, but to return to the previous topic

Do Dinosaurs still walk the earth?
Times have changed and those old moat arguments need rethinking
There are Companies that have the resources to compete, perhaps
in a year or so, but more likely they are already in the process.

I still remember the affair with Chlorox.

AIMHO, BWDIK .. ... DYOR and GLA

:-)