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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Virotec Intl | VTI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 12.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 12.50 |
| Top Posts |
|---|
Posted at 25/2/2008 09:11 by steve3005 VTI owns 19% of GHF so it does have an indirect interest in Molectra. I am hoping the sell out comes to nothing, as like many investors I want to see this company work out as an investment not to see it being sold off just as all the ground work seems to be at a point of paying off. BTW - has there been any public announcement of the aussi contract? Re Greenhouse, there is a thread and I have posted there. This is a very interesting if a bit too uncommunicative fund. |
Posted at 08/2/2008 13:44 by justin586 There are several aspects of the company that are likely to become very profitable in the medium term. They have a patented product under licence with a number of environmental agencies.They also have just been awarded a contract for their Australian land remediation business which once the ink has dried on the contract will significantly increase the value of the company. This would definitely make it an attractive buy. The question however, is for much and when? I value the share at 19p. I noticed that Nigel Wray, a leading UK investor invested more than £5 million in Virotec indicating that there is something special here. |
Posted at 04/9/2007 06:40 by timben Hi Angus had another reply from Mr Bamonte:"Apologies for the delay in responding. We plan to have our interim results released shortly (in the next week) and this will contain a brief summary of our progress (in line with my previous response to you). I am unable to go into too much detail on any further projects until such time as information is made public. As advised in my previous response to you, we are working on a number of projects. Unfortunately some have been delayed by regulatory issues and will take a little time to resolve. On the positive side we are making good progress on a number of other projects that we hope to be in a position to announce some of these by the end of September. We are all disappointed with the share price and we understand the only way to restore Investor confidence is the announcements of new contracts. We are working as diligently as we can to achieve this and as soon as we have any substantive contracts signed we will let the market know. I hope this helps. Please let me know if you have any questions." Could this give us little lift?? Good luck all!! |
Posted at 16/7/2007 10:25 by timben Virotec's chairman Brian Sheeran comments, "We welcome Mr Seager to the Board.He brings great experience understanding the needs of the institutional and other investors and we expect that he will fill an important role for us." I hope he starts understanding our needs soon.....none of us "need" the share price to keep going down!! |
Posted at 14/6/2007 09:29 by vitamal Seems that there is some momentum building up in the water contracts which investors are probably reluctant to acknowledge after the I99 disappointments. It is worth noting in the March Penndot minutes Viromine pellets are still being assessed even though the bauxsol test seem to have been dismissed. Bearing in mind that about 20m out of an overall capitalisation of £30 is supported by HYR and GHF the price is beginning to look quite reasonable in my opinion |
Posted at 12/6/2007 09:04 by alan russell OK only a small contract and a long time coming but good news for all that. Investors know just how incredibly long it can take to get clearance for anything involving health.Now there is an alternative up and running approved means of removing radium. Up until now there have been three choices. 1. drill a new borehole 2. bring in uncontaminated water and mix 3. treat the water. The first two are expensive. The third (there are a number of different treatments on the market) results in a waste product that is rich in radium and needs to be properly disposed of. The Virotec solution is a new gold standard in that it traps the radium allowing it to be disposed of in the usual municipal waste. I recollect (correct me if I'm wrong) that VTI previously said that there were about 1,000 contaminated boreholes in the southern states. Now that there is a new cheaper, cleaner approved treatment I would have thought that those drinking the radium affected water would be quite keen for their public representatives to do something about it! Hopefully new contracts could quickly increase to tens pa. Judging by the comment in the RNS about the NSF approved improvements in the VTI production facility together with the second contract underway, VTI appear to think so. Alright this one product isn't going to be the making of the company and cause the share price to double of treble, but it is a significant step towards the first goal of any small blue sky company, year on year profitability from repeating business. A small hooray! |
Posted at 09/6/2006 13:48 by antreg RNS Number:8829DVirotec International Ld 01 June 2006 VIROTEC INTERNATIONAL LTD 1 June 2006 Transfer of Virotec Group Domicile from Australia to England The directors of Virotec International Ltd ('Virotec (Aus)') (AIM: VTI), are pleased to announce Virotec (Aus)'s intention to change the domicile of the Virotec Group from Australia to England. This proposal will further Virotec (Aus)'s evolution into a truly international company and reflects the move of Virotec (Aus)'s shareholder base away from Australia. Currently, approximately 79% of the issued share capital of Virotec (Aus) is held by shareholders resident in the UK and Europe. Virotec (Aus) proposes to effect the change of domicile through a scheme of arrangement under the Australian Corporations Act 2001 (the 'Proposed Scheme'), involving a share-for-share exchange, with Virotec International plc ('Virotec UK'), a company newly incorporated in England and Wales and established for this purpose. If the conditions attached to the Proposed Scheme are satisfied, all shareholders in Virotec (Aus) will exchange their existing shares in Virotec (Aus) for shares in Virotec (UK), on a one for one basis. Virotec (Aus) and all of its subsidiaries will then become wholly owned by Virotec (UK). The Proposed Scheme is subject to satisfaction of a number of conditions, including the approval of Virotec (Aus) shareholders and of the Supreme Court of Queensland. Following implementation of the Proposed Scheme, Virotec (Aus) will cancel its admission to trading on AIM and Virotec (UK) will seek admission to trading on AIM. An indicativetimetable is set out below, which is subject to change and is dependent on the timing of the Supreme Court of Queensland's hearings. Confirmation of the relevant dates will be provided to the market as soon as the dates are known: Announcement of Proposed Scheme 1 June 2006 Lodgement of Proposed Scheme documents with the 1 June 2006 Australian Securities and Investments Commission First Supreme Court of Queensland Hearing 19 June 2006 Despatch of Scheme Documents to shareholders 26 June 2006 (all documents will be made available at this time) Meeting of shareholders of Virotec (Aus) 24 July 2006 Second Supreme Court of Queensland Hearing 9 August 2006 Effective Date for Proposed Scheme implementation 10 August 2006 Suspension of Virotec (Aus) from trading on AIM 10 August 2006 Record Date to determine entitlements 17 August 2006 Cancellation of AIM listing of Virotec (Aus) 23 August 2006 First day of trading of Virotec (UK) 23 August 2006 Shareholders will be aware that Virotec (Aus) enjoyed the benefits of the dual listing of its securities between July 2001 and December 2005 during which time its shares were traded on both the Australian Stock Exchange ('ASX') and on AIM. At the Annual General Meeting of Virotec (Aus) held in November 2005, shareholders approved the delisting of Virotec (Aus) from ASX and this took effect on 30 December 2005. As a result, shares in Virotec (Aus) are now traded solely on AIM. Virotec (Aus)'s range of technologies for the treatment of contaminated water and soils is now the subject of multiple global regulatory approvals and is utilised by Virotec (Aus)'s blue chip customer base in a number of different locations, many of which are outside Australia. The Board anticipates a period of growth of the business of the Virotec Group over the next two years and this growth is expected to be in the Northern Hemisphere. The Board believes, after having had discussions with Virotec (Aus)'s London brokers, that negative investor perceptions may continue to attach to Virotec (Aus), as a non UK company, in the UK and Europe because of its Australian incorporation. If the Proposed Scheme is implemented, the Directors believe these concerns will be addressed. All Directors of Virotec (Aus) support the proposal and recommend it to the shareholders of Virotec (Aus). The independent expert, KPMG Corporate Finance Pty Ltd, has concluded that the Proposed Scheme is in the best interests of the shareholders of Virotec (Aus). Many shareholders currently hold their interest in Virotec (Aus) by way of Depository Interests in CREST in uncertificated form ('DI'). If the Proposed Scheme proceeds, on the record date the DI arrangements will be wound up and DI holders will be recorded in the register of Virotec (Aus) as holders of ordinary shares in Virotec (Aus). In this way, DI holders will participate in the Proposed Scheme in the same way as other shareholders. Virotec (UK) will apply to participate in CREST and it is anticipated that any shares in Virotec (UK) to be issued to former DI holders will be issued to them in uncertificated form as CREST holdings. Arrangements have been made with the holders of options in Virotec (Aus), being employees, for the cancellation of their existing options and the issue of new options over shares in Virotec (UK) on terms that are materially consistent with the existing terms applicable to each option class. The Proposed Scheme documentation will be made available after the Supreme Court of Queensland has approved the Proposed Scheme documentation and ordered the meeting of shareholders of Virotec (Aus). At that time, the Proposed Scheme documentation, which will include an explanatory memorandum and an Appendix to the AIM pre-Admission announcement, will be sent to shareholders and will be available from Virotec (Aus)'s website at www.virotec.com. For further information on the Proposed Scheme please contact Angus Craig, Company Secretary on +617 5530 8014 or by email at mail@virotec.com, or visit Virotec's website at www.virotec.com. This document is issued by Virotec International Ltd (the "Company"), its contents having been approved solely for the purpose of section 21 of the Financial Services and Markets Act 2000 by Numis Securities Limited of Cheapside House, 138 Cheapside, London, United Kingdom EC2V 6LH. Numis Securities Limited which is authorised and regulated by the Financial Services Authority, is the nominated adviser and broker for the Company for the purposes of the AIM Rules. Its responsibilities as the Company's nominated adviser under the AIM Rules are owed solely to London Stock Exchange plc and are not owed to the Company, any director of the Company or to any other person or entity. No liability whatsoever is accepted by Numis Securities Limited for the accuracy of any information or opinions contained in this document or for the omission of any information from this document. Numis Securities Limited is acting for the Company and for no one else and will not be responsible to any other person for providing the protections afforded to customers of Numis Securities Limited or for providing advice in connection with the contents of this document or any matter referred to herein. Numis Securities Limited may be providing or may have provided within the previous 12 months, significant advice or investment services in relation to securities in the Company or a related investment. Virotec International Ltd ABN 81 004 801 398 PO Box 188 Sanctuary Cove QLD 4212 Australia www.virotec.com |
Posted at 08/3/2006 00:07 by antline The 13th of January 2006 the Investors Chronicle magazine tipped VTI @ 26.75p as a STRONG BUY. After a month VTI was @ 15p. Very cheeky. |
Posted at 15/12/2005 09:06 by code warrior Alan,Thxs for posting up VTI's RNS (2240 above). Most helpful. The company's position and outlook is clear and, in the circumstances, I believe constructive. Fwiw, below is a copy of an email from my wife addressed to Angus Craig (Company secretary) at VTI and Bruno Bamonte's (Chief financial officer) response from VTI. Those exchanges refer specifically to point numbered 3 in the RNS - re: first reason given by VTI for the move in the share price...delisting from ASX, loss of dual listing status and impact on share price. The purpose in sharing these exchanges here is to provide a "take" which, of course, is not necessarily correct but, nonetheless, may be useful to others with an interest in VTI. For clarity, I and my family remain completely "flat" on VTI. My last technical post on VTI (when the price was circa 33pps on the way up to 40pps) may be found at the link below, dated 26 July 2005: .........."3.It is too early to say yet (see 1 above) what, if any, retracement will be experienced by this market. Personally, I continue to believe that a lot of overhead supply remains to come into this market from 30pps upwards. I expect the price to retrace at some point (again see 1 above) and imv of it to probably pierce through 30pps back into the old trading range. That is in the nature of this volatile stock. Participants in such stocks almost always exhibit extremes of emotional greed and fear. Ergo, I expect big drawdowns in the price of VTI to continue, as before;.." Here are the exchanges of correspondence: --->Fron Mrs TomL to VTI: From: L..@gmail.com Sent: Friday, 21 October 2005 9:16 PM To: angus@virotec.com Subject: VTI - Proposed Removal Of Dual Listing Status Dear Mr Craig, I refer to your Company's announcement today on the proposed withdrawal of VTI from the Official List of the ASX, to be tabled at the Company's AGM in November 2005. Are you aware of the UK tax and AIM liquidity implications for lines in VTI stock transacted through the AIM market? For example, as a UK shareholder, I am able to hold VTI stock in a 100% tax exempt Individual Savings Account (ISA). ISAs' have been around for approximately six years. For a moderately successful UK investor that means lines of between 50-250,000 shares in VTI stock can be comfortably held in an ISA. The UK tax exemption arises solely on account of the dual listing status of the same class of shares on a recognised Stock Exchange other than the AIM. The ASX is a recognised Stock Exchange by the UK Inland Revenue. Hence why VTI qualifies in the UK under that tax exemption. Only some 10% of all AIM listed stocks qualify under that exemption. If the ASX listing is removed, then the UK Inland Revenue will require lines in VTI stock that are held in an ISA to be transferred out and/or sold. The additional liquidity and related commercial implications, discussed below, would most likely compel investors like myself to reduce continued holdings in VTI by at least 50%. I believe the UK tax exemption that VTI AIM listed shares currently enjoy by virtue of its dual listing status holds obvious and important attractions not only to UK investors but also to VTI for the significant liquidity offered in lines of VTI stock purchased and sold through the AIM. For what it is worth in my case, the tax exemption enabled me to identify your stock, investigate its merits and its liquidity gave me the confidence to invest much more than I would otherwise. I also believe there are compelling commercial reasons for VTI not to do away with its dual listing status which I outline below. It is notable that many of the most liquid stocks on AIM enjoy international dual listing status whereas the many most illiquid AIM stocks do not. I am confident that the Market Makers for AIM stocks are also aware of this from the volume and related statistics that they transact across the board throughout the year. The terms and number of Market Makers keen to run a book in dual listed AIM stocks is bound to be affected by those factors, given the relatively greater activity that is experienced in lines of such stocks. The loss of dual listing status will probably mean fewer Market Makers will make a market in VTI stock and the remainder in reduced size at the "touch price" - namely, the minimum size at which a Market Maker is bound to deal at his quoted price. If VTI proceeds to do away with its dual listing status, I believe all UK Market Makers in VTI will deal at the touch in lines of 15,000 shares or less than the current 25,000 shares. In those circumstances, that represents a 40% drop in the aggregate size that an investor will likely contemplate. The rule of thumb is that an investor should never acquire lines greater in aggregate than 6 times the normal size at which market makers will usually deal in a stock. Obviously, every investor must be mindful of the ability to readily dispose of lines in a stock as well as purchase them. For VTI, that is approximately an aggregate line of 150,000 shares with the present UK ISA tax exemption. Without the tax exemption and applying the above rule, that is likely to drop to at least 90,000 shares - probably much lower with less market participation, less liquidity and a not very practical alternative tax relief regime (see BATR below). I am sure your advisers will point out that Business Assets Taper Relief (BATR) is available to all stocks listed on the AIM. As a matter of practice, however, few AIM investors are able to avail of it. The relief requires an AIM investor to hold the stock continuously for not less than 12 calendar months at which point Capital Gains Tax (CGT) of 20% applies (a 50% discount). If an AIM stock is held continuously for 24 calendar months or more, then CGT at 10% applies (a 75% discount). As you probably know, AIM stocks are notoriously volatile. VTI is no exception. That is why BATR does not work in practice. Obviously, it does not make compelling investment sense to run a loss and cut a profit simply to qualify for BATR. That is precisely why it is not a practicable relief compared to ISAs' which confer 100% tax exemption in any event. Clearly, ISA status will go with any loss of VTI's dual listing status. I believe all the above points that I have drawn to your attention are strongly indicative of the loss in liquidity and loss of interest that VTI will experience with its AIM listing if the proposed ASX listing is dropped. Whilst I recognise your Company's reasons for proposing to do away with its ASX listing, being cost and low volume activity on the ASX, is it possible for the proposal to be deferred until an alternative qualifying dual listing is secured (eg NASDAQ)? I look forward to your reply and thank you in advance for your attention to the above matter. Yours sincerely, --->From VTI to Mrs TomL: From: Bruno Bamonte To: L.. @gmail.com Date: 08-Nov-2005 07:27 Subject: RE: RE: VTI - Proposed Removal Of Dual Listing Status Dear Ms. L.., Thank you for your email of the 21st October regarding our recent notification to shareholders that we are seeking to de-list from the Australian Stock Exchange and remain solely listed on the AIM market in London. Firstly I apologise for the delay in responding to you. Angus Craig who normally handles these enquiries is currently on holidays so I have taken the liberty of responding on his behalf. As you can imagine this issue has generated a lot of queries, mainly from our Australian investors. All of your points are well made and I do not disagree with any of them in principle. The company took the decision to list on AIM in July 2001 as the start of the move into the Northern hemisphere, both in terms of corporate presence as well as product development. This was with the clear understanding that the biggest markets for the products that the company is commercialising are no doubt going to be in the Northern Hemisphere developed markets. This was the start of a gradual move to this area that is a logical one for a Company like Virotec. Hence the decision not to retain the services of a broker in the Australian market, only in the UK, as well as the obvious cost savings of not running two brokers. As the success of the move to the UK has increased so has the hindrance of being dual listed. The problems relate not simply to liquidity and cost but also shareholder management. The Australian quote has traded at a discount to the UK quote now for many months and this is due partly to liquidity but also to the different way in which the stock trades in the different markets. AIM is still quote driven and thus does not undergo the levels of volatility in low volume situations that an order driven system does, such as the ASX and the NASDAQ exchanges. The broker has also commented many times that not knowing what the Australian shareholder sentiment / feeling is and therefore their market behaviour at any given point makes their job quite a lot more complex than it should be in these situations. Apart from the issues covered both in your email and above I am not sure that the experience of being dual listed and still being a relatively small company is one that makes sense for a company of Virotec's size and resources. A dual listing in the US would gain a higher profile in that market no doubt but it would bring with it another broker burden in cost and management time and also re-introduce the price difference issue between the markets again. Something which in itself can increase volatility in a stock where that may be an issue already. To make a secondary quote a serious one with the company in its current form would require at least the employment of another internal employee, a US broker and the issuance of enormous amounts of stock to ensure that there was not a liquidity issue in the American market. Something that if not addressed would make the quote in the US a hindrance again rather than a positive. None of these things are the right one for the company at the current time, or focus is on rapid commercialisation of our product lines across our regional offices therefore more sales or technical support people would be employed before any more IR people. Further dilution of the stock is also not something the company is considering, and that will be the case for a good while yet no doubt. The Company is sympathetic to your argument and position, and understand that there are number of UK investors who will find themselves in the same situation as yourself. However as the company grows in size its corporate needs change and the decision to return to being solely listed, and for that to be on the AIM market in London is the right one for the company in the board's opinion. This opinion is also strongly shared by our nominated broker and adviser in the UK. We sincerely regret any inconvenience that this may cause you and we wish you all the best in managing the situation you have with your personal investments and hope that you have many more successful years as a Virotec shareholder. Kind Regards Bruno Bamonte Chief Financial Officer Virotec International Limited Regards, T. |
Posted at 26/11/2005 11:40 by code warrior --->VTI's Proposed Cancellation Of Dual-Listing Status:As many of you know (readers and posters alike), this stock is presently an ISA-able AIM stock by virtue of its ASX listing. However, a resolution is being put at its AGM later this month to cancel its ASX listing, leaving its London AIM listing as the sole market for its stock. The grounds stated are lack of volume and the cost in maintaining its ASX listing in such circumstances. If the ASX listing is cancelled, then VTI stock in ISA/PEP accounts must be transferred or sold out within one calendar month of cancellation. If you require detailed information about the Inland Revenue rules on ISA-able AIM stock, then you may find the IAIM thread useful. Here is the link: As an aside and fwiw, I think it unusual that a company with such widely known international ambitions should be cancelling its ASX listing. VTI have stated ambitions to open up and develop their markets for their products and innovations in North America and SE Asia, as well as in Europe. The importance of a listing to confidence amongst the customers (existent and prospective) and suppliers of a company is well known, particularly when breaking into new territories. I had always (mistakenly it seems) assumed that VTI would add North America to its existent portfolio of European (London AIM) and SE Asian (Sydney ASX) listings. I note that contraction rather than expansion is now the corporate agenda here. It seems to me that it would be a much better proposition to all VTI shareholders if the ASX listing is maintained. To that I would add a Nasdaq ADR listing (a cost effective way to list in N America for a strong investor following), specifically using the ASX market as the point of source and settlement for stock transacted in the Nasdaq ADR wrap. For more on ADRs, here is the link: That way, I believe the following objectives would be achieved: 1. The ASX listing would likely see a significant increase in volume traffic arising from source and settlements of stock contained in the Nasdaq ADR wrap, particularly on the back of a successful contract win on the I-99 project [North America]; 2. The ASX listing would continue to provide VTI with its listing presence in SE Asia. The ASX is the most Sino/Chinese-America 3. There would be no sustained drop in volume and liquidity on the London AIM. I believe in the past much of the volume in VTI was driven through ISA/PEP accounts that would no longer be allowed to participate in VTI if its dual listing status is lost. I also believe that some mms may have already anticipated that condition with recently reduced minimum size from [edit] 25k to 15k. [Europe]. In my case, if the resolution is carried, I know the size that I will participate with will be 40% of before with a 100% of my participation in VTI then probably subject to capital gains tax. Like so many others on here, I am aware of the institutional accumulation by Fidelity in particular. Ultimately, however, so much of the confidence and conviction to participate in a stock comes down to volume, much of which in VTI is driven by active private investors. For that specific reason, I believe neither the participation of Fidelity in VTI, nor the loss of VTI's dual listing status will be helpful to active private investors. VTI have not stated an intention to alter the status of their London AIM listing in any way. For that reason, I believe it would be sheer speculation to infer, for instance, that a move to the main London market is on the cards. That, after all, is a much more expensive listing experience - the very reason given for cancellation of the ASX listing, although such a move would certainly ameliorate all the UK ISA/PEP issues referred to above. |
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