46Gillingham
11 May 2017
Re: Down to 1.5p ? So they cant sell itand now all current shareholder are going to be wiped out with an offering at 1p ish.GET a new management team in
asilad
11 May 2017
Down to 1.5p ? Flowgroup plc("Flow" or the "Company" or the "Group"
Response re. press speculation The Company notes the recent press speculation and confirms that it is in the advanced stages of preparing a significant capital fundraising as a potential alternative to the proposed disposal of the Flow Energy business, as previously announced. The directors of the Company (the "Directors" confirm that whilst discussions with the preferred bidder for the Flow Energy business continue, they are also in advanced discussions with Flowgroup's manufacturing partner to downsize and reduce its exposure to its microCHP business. In addition, the Company is in advanced discussions concerning a capital injection into the Group of in excess of £20 million, which would be necessary should the proposed disposal of the Flow Energy business not take place. Should any such fundraising take place, it is likely that the investment will be made in the form of convertible securities and new equity and it is expected that the equity issue and convertible security conversion prices will be at 1.5p and 1.8p respectively. The Directors intend that a material element of any such fundraising will be made available to existing shareholders of the Company on a pre-emptive basis. Any such fundraising would be subject to the approval of shareholders in general meeting. A further announcement on the potential fundraising will be made in due course.
46Gillingham
09 May 2017
This will not help Valuations [link]
shadow22
04 May 2017
Re: What's Happening The moment they entered an exclusivity arrangement other bidders were sidelined.Their indicative offers will be the same as when they were sidelined but they may have walked away when a preferred bidder was granted an exclusivity arrangement.Finding issues? Who knows.Still can't believe some of the muddled RNS we've had over the past year or so. It's almost as if the BOD have driven the share price down deliberately to make any offer look good. It's not unheard of for a CEO to drive the share price down and be offered a golden handshake or new position as a thank you for his help. I'd prefer the company to pay out the proceeds of the sale to shareholders than watch that money sucked away on a boiler that has never been seen to work. I can't imagine large share holders passing a sale to watch that happen unless they are offered something for their troubles.
46Gillingham
04 May 2017
What's Happening 8th Feb Announced pursuing a saleNo Later than 21st March selected one party for an exclusive agreement.6 weeks on what's happened??? Market Cap £11m Lets have a guess. 1) All bidders have walked away2) Bids all undervalue the company3) Exclusive bidder is finding loads of issues
46Gillingham
20 Apr 2017
May buy a few just for fun Looks to me like the management team are unable to get anyone really interested at whatever price they want.......If any energy company was interested in flow a deal would have been closed by now..... Think they will do a bad deal when and if anything is announced The energy space has to many players and the market is commoditised little value in each fuel held.....GB last year in trouble with 200,000+ fuels, £150m turnover..Coop got it for nothingAs I've said before the CEO should have gone a year plus ago....£500k package what a joke! Having said all this may be worth a little punt at 4p
Eating Grass
20 Apr 2017
Falling SP - Down 11% today Rapid fall in share price presumably because of the strong pound?Flowgroup has announced the intention to sell the energy business which is the boring bedrock.Then Flow is left with the exciting business of selling boilers that generate electricity. Trouble is Jabil Circuit are closing the Livingstone factory. It will take time to relocate Flow Boiler manufacturing to an overseas facility.Wish I knew how the Flow Boiler European trials are going as the technology in my mind remain's unproven. Flow has been hammered. Not all is the company's fault.Not fair that Europe clobbered the VAT relief on an eco boiler. So we are getting out of Europe. Is this too late to save Flowgroup? Now the Pound is too strong because the PM is calling a general election. Fundamentally admin costs & salaries are disproportionate to the size of the company.In the last published accounts for 6 months in 2015 the Gross profit attributable to Flowgroup = 5,109,000But Administrative expenses add up to 13,107,000Oh dear.From past experience (reading Tony Stiff's CV) I think he must have an exit strategy but what rabbit can he pull?
Lifesfullofupsanddowns
21 Mar 2017
Re: Energy Business Number of customers * by a value that I have seen in this industry over the last couple of years.
marcher
21 Mar 2017
Re: Energy Business Hi Lifesfullofupsanddowns,Curious as to how you value the Energy business at 27p.Is that just speculation or inside knowledge of the industry?Whilst the proceeds of the sale would help to fund expansion of the microCHP business, it would also make sense to keep the Energy business as a cash generator to fund the loss making microCHP business.
Lifesfullofupsanddowns
21 Mar 2017
Energy Business The energy business sale will get around 27p per share, I hope.Grossly oversold share on the back of discussion boards constant negative postings.If you tell a lie big enough and keep repeating it, people will eventually come to believe it.I wonder who said that !
shadow22
09 Feb 2017
Re: Good news on FIT RNS My vote too! Perhaps P.I's should be contacting major share holders to ascertain their position. Surely they must be spitting feathers at the present mess?
46Gillingham
09 Feb 2017
Re: Good news on FIT RNS TH2You get my vote
thehog2
09 Feb 2017
Re: Good news on FIT RNS Good morning,My view is they should sell off all the component parts and return the balance to shareholders, but what do I know?TH2
46Gillingham
09 Feb 2017
Re: Good news on FIT RNS Morning thehog2As stated before I was considering coming back into Flow at 4-5p with maybe an inital 2-3m purchaseHave sold my large holding at 20pish last year. OMG thinking of selling the Crown to finance the boiler business....I'm out.... they will get nowhere near their valuation per fuel....but they will waste valuable time doing nothing but spending the current cash they have....What a wasted opportunity I'm out and will never invest again in any company Tony Still is ceo NOT a clue 80%+ reduction in Share Holder value in a year While conducting the strategic review, the Board received a number of approaches expressing interest in its Flow Energy business, which has continued to perform well in a dynamic and fast-changing market place. The Directors believe that, whilst subject to further due diligence, the terms of the indicative approaches for Flow Energy, which are being considered, could, if completed, provide sufficient funding for the microCHP business through to the point at which the technology is commercialised in Europe. As a result, the Board has concluded that the disposal of Flow Energy is something that it should actively pursue. Any disposal of the Flow Energy business would be conditional on shareholder approval. If the disposal of Flow Energy does not take place in the coming months, the Directors will consider a number of funding options for the Group, including selling a strategic stake in either its Flow Energy or microCHP businesses or through a placing. The Company looks forward to providing a further update in due course.
thehog2
09 Feb 2017
Good news on FIT RNS MicroCHP Feed-in Tariff (FIT) updateRNSRNS Number : 3930WFlowgroup plc09 February 2017 Flowgroup plc("Flow" or the "Company" or the "Group" MicroCHP Feed-in Tariff (FIT) update Flowgroup plc (AIM: FLOW), which provides a range of innovative energy technologies, energy supply and energy services, notes the announcement yesterday by the Government of its conclusions following its Feed-in Tariff review. In May 2016, the then Department of Energy and Climate Change (DECC), now part of the Department for Business, Energy and Industrial Strategy (BEIS), published a consultation document (the "Consultation" which included a review of support for the microCHP Feed-in-Tariff (FiT), whereby it was suggested that the number of qualifying microCHP units would be capped at a much lower level, thereby reducing the support significantly. As per our previous company updates, the outcome of this Consultation was important for the future of our microCHP business. BEIS has published its response to the Consultation, with the following results: · The tariff rate remains the same at 13.61p/kWh· The proposed reduction in the number of units supported by the FiT from 30,000 units to 3,500 has been amended to a reduction to 15,000 over the remaining period of the FIT (April 2017 and April 2019)· Revised cap of 15,000 is based on 20MW installed capacity with assumed average power output of 1.3kWe· The proposed budget cap for microCHP of £1m has been changed to £9.8m of the overall £100m FiT cap The changes come into effect on 1 April 2017. Flowgroup welcomes yesterday's announcement, which it believes is the result of significant co-ordinated industry pressure, in which the Company played a key role. The Company continues to believe that the increase in manufacturing costs of the Flow microCHP, caused by the recent fall in the value of Sterling against the Euro and the US Dollar, makes the microCHP model uneconomic in the UK market in the near term. However, continuation of the microCHP FiT at the above rates and volumes, and its applicability to the Flow microCHP Boiler, does give the Group the opportunity to potentially deploy more of its manufactured microCHP stock into the UK market. While the majority of this stock is planned to be used in European trials with the Group's partners, some could be installed in UK homes, generating more operational data as well as customer feedback, all of which will assist with our plans for a future European launch. Flowgroup plcwww.flowgroup.uk.comTony Stiff, Group Chief Executive OfficerTel: +44 (0)20 3137 4525Nigel Canham, Chief Financial Officer Cenkos Securities plc (NOMAD and Broker)Tel: +44 (0)20 7397 8900Stephen Keys (Corporate Finance) Julian Morse (Sales)
