Announcement • Jan 02
Rotala's Cancellation of Admission to Trading of Shares on AIM Expected on 18 January 2024 On 20 November 2023, the boards of Rotala PLC and RGL announced that they had reached agreement on the terms of a recommended cash offer, pursuant to which RGL would acquire the entire issued and to be issued share capital of Rotala for 63.5 pence per share (the "Acquisition"). Suspension of trading on AIM in Rotala Shares expected on 7.30 a.m. on 17 January 2024. Cancellation of admission to trading on AIM of Rotala Shares by no later than 7.00 a.m. on 18 January 2024. Announcement • Sep 20
The management of Rotala PLC made an offer to acquire remaining 62.41% stake in Rotala PLC (AIM:ROL) for £12.3 million. The management of Rotala PLC made an offer to acquire remaining 62.41% stake in Rotala PLC (AIM:ROL) for £12.3 million on September 19, 2023. As per the terms, the offer price per share is £0.635. The offer is made by Chief Executive Simon Dunn, Managing Director - North West Bob Dunn, and Non-Executive Chair John Gunn. The Director Offerors, together with their concert parties, currently hold 11,661,434 ordinary shares, representing approximately 37.59 per cent. of the Company's issued share capital. A committee of independent directors, comprising Graham Spooner, Non-Executive Deputy Chair and Senior Independent Director, Graham Peacock, Independent Non-Executive Director and Kim Taylor, Group Finance Director has been formed to consider the Possible Offer. Shore Capital and Corporate Limited acted as a financial advisor to Rotala PLC. Announcement • Jul 30
Rotala PLC Declares an Interim Dividend, Payable on 25 August 2023 Rotala PLC announced in accordance with its stated dividend policy, the board has declared an interim dividend of 0.5 pence per share (2022: 0.5 pence) which will be paid on 25 August 2023 to shareholders on the register at the close of business on 11 August 2023, with the ex-dividend date being 10 August 2023. New Risk • Jul 30
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 26% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (UK£13.8m market cap, or US$17.7m). Reported Earnings • Jul 30
First half 2023 earnings released: EPS: UK£0 (vs UK£0.042 in 1H 2022) First half 2023 results: EPS: UK£0 (down from UK£0.042 in 1H 2022). Revenue: UK£52.6m (up 35% from 1H 2022). Net income: UK£2.0k (down 100% from 1H 2022). Profit margin: 0% (down from 5.3% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • Jul 08
Greater Manchester Combined Authority acquired Bolton Depot from Rotala PLC (AIM:ROL). Greater Manchester Combined Authority agreed to acquire Bolton Depot from Rotala PLC (AIM:ROL) on June 1, 2023. As part of the acquisition, Greater Manchester will acquire all associated fixtures, fittings, plant and machinery of Bolton Depot. In related transaction, Transport for Greater Manchester agreed to acquire majority of related vehicles of Bolton Depot from Rotala PLC. The combined consideration is £30.4 million. Rotala will use proceeds to repay the mortgage and hire purchase debt, to repay the remaining outstanding drawings and to strengthen Rotala balance sheet. The deal is subject to approval by shareholders of Rotala PLC (AIM:ROL). As of July 3, 2023, the shareholders of Rotala PLC (AIM:ROL) approved this transaction. Tom Griffiths, James Thomas, Lucy Bowden and Henry Willcocks of Shore Capital Markets Limited acted as financial advisor to Rotala PLC.
Greater Manchester Combined Authority completed the acquisition of Bolton Depot from Rotala PLC (AIM:ROL) on July 7, 2023. Upcoming Dividend • Jun 08
Upcoming dividend of UK£0.01 per share at 4.4% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (3.9%). Announcement • May 10
Rotala plc Recommends Final Dividend of Fiscal Year of 2022 Rotala PLC announced a final dividend of 1.0p per share in respect of Fiscal Year 2022 will be recommended to the forthcoming AGM. This dividend, if approved, will be payable on 30 June 2023 to shareholders on the register on 16 June 2023. Reported Earnings • May 09
Full year 2022 earnings released: EPS: UK£0.024 (vs UK£0.001 in FY 2021) Full year 2022 results: EPS: UK£0.024 (up from UK£0.001 in FY 2021). Revenue: UK£84.9m (down 12% from FY 2021). Net income: UK£1.17m (up UK£1.10m from FY 2021). Profit margin: 1.4% (up from 0.1% in FY 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Rotala PLC (AIM:ROL) announces an Equity Buyback for 18,181,818 shares, for £10 million. Rotala PLC (AIM:ROL) announces a share repurchase program. Under the offer, the company will repurchase up to 18,181,818 shares, for £10 million. The share will be repurchased at a price of 55 pence per share. The repurchased shares will either be held in treasury or cancelled. The company has set February 16, 2023, as the record date of the offer. The shares validly tendered by shareholders in excess of their Basic Entitlements will be scaled down pro rata to the total number of such shares tendered such that the total number of shares purchased pursuant to the Tender Offer does not exceed 18,181,818. The offer is subject to shareholders' approval at the General Meeting to be held on February 16, 2023. The offer will close on February 17, 2023. As of January 26, 2023, the company had 1,721,316 shares in treasury. Announcement • Jan 26
Rotala PLC, Annual General Meeting, Feb 16, 2023 Rotala PLC, Annual General Meeting, Feb 16, 2023, at 10:00 Coordinated Universal Time. Location: Company's registered offices at Cross Quays Business Park, Hallbridge Way, Tividale, Oldbury West Midlands B69 3HW Oldbury United Kingdom Agenda: To authorise the Company to make the repurchase of Shares which is necessary to enable the Tender Offer to be implemented. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Graham Peacock was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 28
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£807.0k from profit in 1H 2021). Profit margin: (down from 1.7% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 19% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Non-Executive Director Graham Peacock was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Mar 24
Executive Director & MD - North West recently bought UK£49k worth of stock On the 21st of March, Robert Anthony Dunn bought around 185k shares on-market at roughly UK£0.26 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£247k more in shares than they have sold in the last 12 months. Upcoming Dividend • Mar 24
Inaugural dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 31 March 2022. Payment date: 29 April 2022. The company is not currently making a profit and is not cash flow positive. The company last paid an ordinary dividend in April 2011. The average dividend yield among industry peers is 5.0%. Recent Insider Transactions • Mar 24
Executive Director & MD - North West recently bought UK£49k worth of stock On the 21st of March, Robert Anthony Dunn bought around 185k shares on-market at roughly UK£0.26 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£247k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: UK£0.001 (up from UK£0.081 loss in FY 2020). Revenue: UK£96.5m (up 24% from FY 2020). Net income: UK£66.0k (up UK£4.11m from FY 2020). Profit margin: 0.1% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 23
First half 2021 earnings released: EPS UK£0.016 (vs UK£0.076 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£47.3m (up 33% from 1H 2020). Net income: UK£807.0k (up UK£4.62m from 1H 2020). Profit margin: 1.7% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • May 07
Full year 2020 earnings released: UK£0.081 loss per share (vs UK£0.04 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: UK£78.1m (up 16% from FY 2019). Net loss: UK£4.05m (down 308% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 26
New 90-day high: UK£0.32 The company is up 11% from its price of UK£0.28 on 27 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Transportation industry, which is up 30% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: UK£0.28 The company is up 47% from its price of UK£0.19 on 26 August 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Transportation industry, which is up 41% over the same period. 
