Proventec Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9375188 2nd March 2012
http://bit.ly/wgIIZF By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=9375188&action=detail Fri, 02 Mar 2012 08:15:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.8295943 ')" target="_new" rel="nofollow">http://www.thebusinessdesk.com/northwest/news/170262-proventec-optimistic-after-cutting-losses.html?utm_source=newsletter&utm_medium=email&utm_campaign=NorthWest_24th_May_2011_-_Daily_E-mail


24th May 2011
By James Graham - Business Correspondent
David Chestnutt, Proventec's chief executive
LIVERPOOL steam cleaning group Proventec has cut its losses and identified potential for growth in new markets.

The company, which came close to administration last year, has reported sales of £7.5m, up 6%, in the six months to March 31. It halved pre-tax losses to £715,000.

AIM-listed Proventec said it had worked hard to improve its performance and drive down costs in a "difficult" commercial climate.

It described the cleaning market as "robust" and said there was a good potential for growth in industrial steam cleaning. The company has also been encouraged by a trial at Durham and Darlington NHS Trust but admitted the slow take-up in the healthcare sector will lead to a further reorganisation in the steam business.

The company was grappling with loan note interest payments last year but struck a deal with note holders which came into effect in December. The deal involved a £2.5m cash injection and a significant conversion of debt and loan notes into shares.

Chief executive David Chestnutt said: "Having restructured the group's finances, the focus during the period has been on driving sales and developing our markets. Despite the continued difficult trading conditions, Proventec has reported a 6% increase in revenues compared to the same period last year.

"We have reported a significantly reduced loss compared to the previous period and the board strives to identify new growth opportunities to put the group in a stronger commercial and financial position." By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=8295943&action=detail Tue, 24 May 2011 08:40:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.7426975
Can the new chairman work miracles? The company still reads well but it doesn't perform and hasn't got a clue about PR and investor relations. High hopes of big NHS contracts once upon a time but not looking likely now... By Duck and Dive ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=7426975&action=detail Fri, 10 Dec 2010 16:24:00 GMT Duck and Dive tag:iii.co.uk,2003:tst.7413492
By forwardloop ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=7413492&action=detail Wed, 08 Dec 2010 22:01:00 GMT forwardloop tag:iii.co.uk,2003:tst.5068203
http://www.growthcompany.co.uk/news/1058712/proventec-raises-15m.thtml By InvestingGarden ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=5068203&action=detail Wed, 15 Jul 2009 09:13:00 GMT InvestingGarden tag:iii.co.uk,2003:tst.4693252
Once they break into the NHS market their sales and reputation will rocket, there is potential for huge orders - I bought back in on the RNS for the Scottish order and I was the only buyer that day - they are currently unloved and undervalued IMO. By NothingGained ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4693252&action=detail Sun, 12 Apr 2009 09:11:00 GMT NothingGained tag:iii.co.uk,2003:tst.4383587 http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4383587&action=detail Wed, 17 Dec 2008 14:13:00 GMT Duck and Dive tag:iii.co.uk,2003:tst.4383451
If so they could not do so when the share was at £1 face value as they could not issue shares below par.
By reducing face value to 10 p they are then free to issue shares by seeling them down to that value.

I thought this was all about cleaning up the balance sheet so they could get rid of a deficit & pay dividends.
Does anyone know any different? Has the company some overt or covert plans to raise money - perhaps for a takeover of a nother co?.
Are the mkts showing their reaction to such a deal at this time if a dilution at todays low prices is likely?? By forwardloop ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4383451&action=detail Wed, 17 Dec 2008 13:20:00 GMT forwardloop tag:iii.co.uk,2003:tst.4383099
From today's press release:

"The Company is therefore seeking the approval of Shareholders to cancel its Share Premium Account and reduce its issued share capital from £12,419,719, divided into 12,419,719 Ordinary Shares of £1 each to £1,241,971.90, divided into 12,419,719 Ordinary Shares of 10 pence each by cancelling an amount equal to 90 pence on each Ordinary Share in issue. Following the Capital Reduction (and subject to any creditor protections which the Court imposes), the deficit on the profit and loss account will be credited by the amount standing to the Share Premium Account (being £20,975,985) and by the aggregate amount by which the share capital is reduced (being £11,177,747.10). It should be noted that the Capital Reduction will not involve any distribution or repayment of capital by the Company to any Shareholder or involve any reduction in the Company's underlying assets. The reduction in the nominal value of the Ordinary Shares should not in itself affect their market value." By Duck and Dive ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4383099&action=detail Wed, 17 Dec 2008 11:07:00 GMT Duck and Dive tag:iii.co.uk,2003:tst.4126949
By forwardloop ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4126949&action=detail Tue, 22 Jul 2008 11:13:00 GMT forwardloop tag:iii.co.uk,2003:tst.4062057 http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4062057&action=detail Sat, 07 Jun 2008 12:57:00 GMT saud28 tag:iii.co.uk,2003:tst.4060080 to their near lowest price.
This company knew their business was going to take off again plus they have added the shares to the Alternext market as they are expanding their operations in Europe.
Before the consolidation some years back I made £250 on a short time basis and remember selling out whilst the shares touched 70p approx.
Now multiply that by 20 and you get a whopping £14, but I'm not saying
they will climb to those heights again, but there is still plenty of recovery upside in the share price as this company drums up more business.
QXL is another classic example of having been consolidated whilst also
very,very cheap and nearly worthless. The consolidation years back was
1000 / 1 and I was milked down to 11 shares, but they climbed up from
roughly £3-89 to a whopping £115 approx before being split 6 to 1 approx
and then being bought out or merged. I had sold out before the split.
So with PROVENTEC I am naturally excited it will follow a similar pattern and this is why its continuously rising is my reasoning.

Hope I'm Right and good luck.
By city watcher ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4060080&action=detail Fri, 06 Jun 2008 08:36:00 GMT city watcher tag:iii.co.uk,2003:tst.4060031
is this good news or bad ?

By saud28 ]]> http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4060031&action=detail Fri, 06 Jun 2008 08:18:00 GMT saud28 tag:iii.co.uk,2003:tst.4060017 http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4060017&action=detail Fri, 06 Jun 2008 08:09:00 GMT saud28 tag:iii.co.uk,2003:tst.4059318 http://www.iii.co.uk/investment/detail?code=cotn:PROV.L&display=discussion&id=4059318&action=detail Thu, 05 Jun 2008 16:33:00 GMT saud28