By Tom Winnifrith & Steve Moore | Friday 21 April 2017
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Shares in Symphony Environmental (SYM) were a 6.75p offer price, September 2013, addition to the Penny Shares portfolio of our Nifty Fifty website. We recently updated with them heading towards doubling.
A recent rise is on the back of the company announcing it has been awarded the Quality-mark for its d2w oxo-biodegradable additive by the Saudi Arabia Standards Organisation and that its “sales teams are now active in the country”.
NEW SHARE TIP ON TUESDAY - the Nifty Fifty website of Tom Winnifrith and Steve Moore, on which this article first appeared, will have a new share tip on Tuesday. To access the website ahead of that and a new shorting piece from Lucian Miers just out click HERE
This follows legislation requiring the use of oxo-biodegradable plastic for a wide range of locally-manufactured and imported plastic products including carrier bags, packaging films, agricultural films, and many others, with the government having specified 14th April as the effective date post which compliance is required.
Accredited as an approved supplier of d2w additive, the company now “look forward to updating the market on activities in the region, as appropriate in due course”.
This follows results for the 2016 calendar year last month noting “expectations for the short term are that more countries outside Europe will pass legislation in favour of a d2w-type oxo-biodegrading plastic solution, and that other countries who already have legislation will progress their enforcement programs” and that “the board do not envisage any working capital constraints should sales materially increase”.
The results announcement saw the shares respond a tad higher – and they are currently further higher on the back of the latest announcement. However, the potential impact of increased sales sees us continue to have a current stance of hold.
This article first appeared on the Nifty Fifty website which Tom Winnifrith runs with Steve Moore & Lucian Miers. To access the website for a new shorting piece from Lucian just live and that tip from Tom & Steve on Tuesday see HERE
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