Annonce • Nov 01
HeiQ Plc, Annual General Meeting, Nov 25, 2024 HeiQ Plc, Annual General Meeting, Nov 25, 2024. Location: the offices of russell speechlys llp, 5 fleet place, ec4m 7rd, london United Kingdom Annonce • Oct 23
HeiQ Announces Restructuring and Delisting The Directors of HeiQ Plc have concluded that the administrative, regulatory and cost burden associated with maintaining the Company's listing is, in their opinion, disproportionate to the benefits. In order to implement the restructuring programme, as well as to assist in the Company's financing efforts for its ventures, the Board has therefore concluded that it is necessary to cancel the listing of the Company's ordinary shares (the "Shares") on the Official List (equity shares (transition) category) of the Financial Conduct Authority ("FCA") and to cancel the admission to trading of the Shares on the Main Market for listed securities of the London Stock Exchange ("LSE") (the "Delisting"). The Directors believe that the Delisting would facilitate its restructuring programme, through a major reduction in annualized costs associated with being a listed company. Furthermore, the Directors believe that the Delisting would greatly assist the Company to raise financing in the private markets for its venture platforms at higher valuations and enable their growth and value creation for Company's shareholders. As a company listed on the equity shares (transition) category, the Company is not required to obtain the approval of shareholders for the Delisting but is required under UK Listing Rule 21.2.17 to give at least 20 business days' notice of the intended cancellation. Accordingly, HeiQ has requested that (i) the FCA cancel the listing of the Shares on the Official List of the FCA, and that (ii) the LSE cancels the admission to trading of the Shares on the Main Market for listed securities of the LSE. It is anticipated that the Delisting will become effective from 08:00 a.m. (London time) on 19 November 2024. Investors holding Shares following the Delisting will remain a shareholder of HeiQ plc and continue to be entitled to exercise all of the rights attaching to the Shares and their attention is drawn to the paragraph below entitled "Dealing Arrangements". The Company intends to publish its Annual Accounts for the 18-month period ending 30 June 2024 by 31 October 2024, as required by the UK Listing Rules. The Company's 2024 Annual General Meeting is expected to take place in November 2024, further details of which will be announced in due course. New Risk • Oct 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£4.63m (US$6.01m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Market cap is less than US$10m (UK£4.63m market cap, or US$6.01m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (US$8.0m net loss in 2 years). Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Oct 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (US$8.0m net loss in 2 years). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (UK£10.8m market cap, or US$14.1m). Annonce • Sep 12
HeiQ plc Provides Earnings Guidance for the First Half Year of 2024 and Eighteen Months Commencing 1 January 2023 to 30 June 2024 HeiQ Plc provided earnings guidance for the first half year of 2024 and eighteen months commencing 1 January 2023 to 30 June 2024. Despite these challenges, the Company has managed to maintain relatively stable revenue generation over the past 24 months and expects to report total revenues of approximately USD 62 million for the 18-month period (FY 2022 12-month period: USD 47 million). Therefore, losses from operations for the period are expected to be approximately USD 18 million, significantly reduced from USD 29 million in Fiscal Year 2022 (12-months).
For the first half year of 2024, the company expects revenues of USD 20.4 million. The loss from operations for the six months to 30 June 2024 is expected to be USD 6 million (USD 3.5 million excluding depreciation & amortization charges). New Risk • May 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$8.0m net loss in 2 years). Share price has been volatile over the past 3 months (8.5% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (UK£22.0m market cap, or US$27.9m). Annonce • May 15
Ecolab and HeiQ Introduces Synbiotic Cleaning Products at Interclean Ecolab and HeiQ Chrisal have teamed up to launch the revolutionary Maxx Synbiotic cleaning range at Interclean in Amsterdam, The Netherlands. Ecolab, a global sustainability leader offering water, hygiene, and infection prevention solutions and services, and HeiQ Chrisal, a leading biotech innovator, are proudly collaborating to introduce advanced synbiotic cleaning products to the European cleaning industry. At Interclean in Amsterdam, May 14-17, the Maxx Synbiotic range will be introduced to the professional cleaning industry throughout Europe. Harnessing the power of pre- and probiotics, the 50 billion probiotics per liter of Maxx Synbiotic deliver immediate, continuous, and microscopic-level cleaning, highly efficient odor reduction, long-lasting efficacy, and support for a well-balanced microbiome on surfaces. HeiQ's synbiotic cleaning technology was validated in several scientific studies, e.g. the landmark study published in May 2023 in The Lancet by renowned Charité University Hospital Berlin. Reported Earnings • Mar 28
Full year 2023 earnings released: US$0.097 loss per share (vs US$0.22 loss in FY 2022) Full year 2023 results: US$0.097 loss per share (improved from US$0.22 loss in FY 2022). Revenue: US$41.7m (down 12% from FY 2022). Net loss: US$13.6m (loss narrowed 54% from FY 2022). Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 4.6% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 26 percentage points per year, which is a significant difference in performance. Annonce • Mar 13
HeiQ Plc Announces Board Changes, with Effect from 1 April 2024 HeiQ Plc announced the appointment of Robert Van de Kerkhof as Chairman of the Company, with effect from 1 April 2024. Robert was appointed Non-Executive Director of HeiQ in January 2024 and subsequently, Chair of HeiQ AeoniQ. He brings a wealth of invaluable experience, having spent over 30 years in general management and sustainability leadership positions across the textiles industry. The HeiQ announced that Esther Dale Kolb, current Chair, who is stepping down to pursue other interests. Esther joined HeiQ in July 2020 and retires after working more than 30 years in leadership and management positions in both the chemicals and textiles industries. Esther will remain with the business to ensure an orderly handover of duties to Robert. Annonce • Feb 23
HeiQ Plc has completed a Follow-on Equity Offering in the amount of £0.759404 million. HeiQ Plc has completed a Follow-on Equity Offering in the amount of £0.759404 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 862,069
Price\Range: £0.087
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,866,709
Price\Range: £0.087
Transaction Features: Subsequent Direct Listing Annonce • Feb 17
HeiQ Plc has filed a Follow-on Equity Offering in the amount of £0.075 million. HeiQ Plc has filed a Follow-on Equity Offering in the amount of £0.075 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 862,069
Price\Range: £0.087 Annonce • Nov 30
HeiQ Plc Appoints Robert van de Kerkhof as Non-Executive Director, Effective January 1, 2024 HeiQ Plc announced the appointment of Robert van de Kerkhof as Non-Executive Director, with effect from 1 January 2024, to the board of HeiQ plc and as Chairman of the Environmental, Occupation, Health & Safety and Sustainability Committee. Robert will also be appointed to the board of HeiQ AeoniQ Holding AG (in Switzerland), a subsidiary of HeiQ plc. Robert has over 30 years of experience in general management and sustainability leadership and extensive knowledge of the textiles industry, including cellulosic fiber technology. He is the founder of PEPPER-i2, an advisory company specializing in sustainability and circularity. Robert also serves as the Chief Sustainability Officer and as a Board Member, a position he has held since 2014, of Lenzing AG (ATX listed LNZ.VI). Robert will be leaving Lenzing and its Board on 31 December 2023. Robert joins HEIQ AeoniQ with the firm belief that the novel HEIQ AeoniQ man-made cellulosic fibers (MMCF) are one of the most promising solutions to decarbonizing the textile industry and achieving a path to net zero for brands. Robert has also held senior positions as President of the Austrian Fiber Institute, President and Board Member of CIRFS - the European Man-made Fibres Association, and Chairman of the ReHubs Business Council for Euratex, which is the voice of the European Apparel and Textile Industry. These roles further demonstrate his strong leadership experience and expertise within the textiles industry. Annonce • Nov 22
HeiQ Unveils HeiQ Skin Care - A Probiotics-Infused Textiles Technology HeiQ introduces a 100% biobased and long-lasting cosmetic finishing technology for textiles to the market. The new addition to the HeiQ portfolio harnesses the power of active probiotics and selected prebiotics to enhance the skin microbiome, turning the human's large organ into the best-looking one. HeiQ announced the launch of HeiQ Skin Care technology for next-to-skin apparel and home textiles. This revolutionary proprietary technology, 100% biobased and meticulously designed, marks a significant advancement in textile innovation. HeiQ Skin Care is a synbiotic textile finish aimed at providing a balanced microbiome for glowing skin, evenafter repeated use and washing of textiles. Unlike conventional products, HeiQ Skin Care utilizes slow-release prebiotics and probiotics seamlessly integrated into a biobased textile matrix, enriching the skin's microbiomediversity, and offering long-lasting cosmetic benefits. The synergistic combination of prebiotics and probiotics, known as synbiotics, delivers a soothing cosmetic skin treatment while one relax, work, or sleep. Probiotics not only restore and improve the skin's natural balance but also enhance its self-repair capabilities. Synbiotics promote skin renewal, rebalancing, and improved appearance, reducing the signs of aging and establishing a favorable environment for the skin's natural repair mechanisms. HeiQ Skin Care is suitable for all textile fibers, both natural and synthetic, and can be applied to all textile items that come in direct contact with the skin. This versatility makes it an ideal choice for daily use- at work, during sports, leisure activities, or as bedding items like bed sheets and pillows. Intensive wear trials conducted during the development stage have proven the consistent release of synbiotics (prebiotics and probiotics) onto the skin, creating conditions to foster a well-balanced microbiome. Reported Earnings • Nov 05
First half 2022 earnings released: EPS: US$0.008 (vs US$0.025 in 1H 2021) First half 2022 results: EPS: US$0.008 (down from US$0.025 in 1H 2021). Revenue: US$30.3m (up 17% from 1H 2021). Net income: US$1.11m (down 64% from 1H 2021). Profit margin: 3.7% (down from 12% in 1H 2021). New Risk • Nov 01
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2022. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2022 fiscal period end). Shares are highly illiquid. Minor Risk Large one-off items impacting financial results. Board Change • Nov 01
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 7 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Ben Bergo is the most experienced director on the board, commencing their role in 2014. Independent Non-Executive Director Karen Brade was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Annonce • Jun 30
HeiQ Plc, Annual General Meeting, Jun 29, 2023 HeiQ Plc, Annual General Meeting, Jun 29, 2023. Agenda: To Reappoint DELOITTE as the company's auditor; to authorise the approval of the auditor's remuneration; to renew the directors' authority to allot shares; to renew the director's authority to disapply pre-emption rights; to authorise the company to purchase its own shares; to reduce the notice period for general meetings; and to authorise the company to send information to shareholders by electronic means. Annonce • Jan 13
HeiQ Plc (LSE:HEIQ) acquired Tarn-Pure Holdings Ltd for £0.85 million. HeiQ Plc (LSE:HEIQ) signed an agreement to acquire Tarn-Pure Holdings Ltd for £0.85 million on January 4, 2023. Under the terms of agreement HeiQ will pay a consideration of approximately £0.85million, subject to adjustments for cash, working capital and debt positions as of closing date. The consideration is agreed to be paid 50% in cash and 50% through the issue of new ordinary shares in HeiQ Plc to the vendorsat a significant premium to the closing market price as of January 3, 2023. The Company accordingly expects to issue approximately 613,000 new ordinary shares and the exact number of shares to be issued will be announced upon closing of the transaction. The transaction is expected to close later in January.
HeiQ Plc (LSE:HEIQ) completed the acquisition of Tarn-Pure Holdings Ltd on January 12, 2023. As on January 12, 2023, the deal structure got changed. HeiQ Plc will pay £0.53 million cash and issue 455,435 new ordinary shares of 30p each with issue price of 69.6p per share which represents a significant premium to the current share price as a part of total consideration £0.85 million. Recent Insider Transactions • Jan 08
Co-founder recently bought UK£84k worth of stock On the 4th of January, Carlo Centonze bought around 300k shares on-market at roughly UK£0.28 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Carlo has been a buyer over the last 12 months, purchasing a net total of UK£114k worth in shares. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 6 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Ben Bergo is the most experienced director on the board, commencing their role in 2014. Independent Non-Executive Director Karen Brade was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 14
First half 2022 earnings released: EPS: US$0 (vs US$0.025 in 1H 2021) First half 2022 results: EPS: US$0 (down from US$0.025 in 1H 2021). Revenue: US$30.3m (up 17% from 1H 2021). Net income: US$1.11m (down 64% from 1H 2021). Profit margin: 3.7% (down from 12% in 1H 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.1% decline forecast for the Chemicals industry in the United Kingdom. Reported Earnings • Apr 29
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$0.021 (down from US$0.044 in FY 2020). Revenue: US$57.9m (up 15% from FY 2020). Net income: US$2.68m (down 46% from FY 2020). Profit margin: 4.6% (down from 9.9% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 6.0% compared to a 14% decline forecast for the industry in the United Kingdom. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Ben Bergo is the most experienced director on the board, commencing their role in 2014. Independent Non-Executive Director Karen Brade was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 29
First half 2021 earnings released: EPS US$0.025 (vs US$0.083 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: US$25.8m (down 14% from 1H 2020). Net income: US$3.13m (down 64% from 1H 2020). Profit margin: 12% (down from 29% in 1H 2020). Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$1.29, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 29x in the Chemicals industry in the United Kingdom. Simply Wall St's valuation model estimates the intrinsic value at UK£1.17 per share. 