Earlier this week I noted on Tissue Regenix (TRX) a further nightmare for shareholders including (natch) Neil Woodford investors – that with the company set to fail a financial covenant test and thus having to discuss with a weak hand - with also its latest results having shown it heavily loss-making with net cash down to £4.3 million - with loan facility provider MidCap Financial Trust. Now though Executive Chairman John Samuel reckons he’s “very pleased that Midcap have shown their support for the company by entering this revised agreement” – and the shares have responded further higher above 1p…
Last month I noted on Tissue Regenix (TRX), the nightmare continues for Neil Woodford investors! – that with the company updating “revenue for 2019 will be below current market consensus by approximately 15% to 20%, with a corresponding reduction in margin impacting EBITDA” and I noting the recent results showed it heavily loss-making with net cash down to £4.3 million and near the top of the shareholders list was Woodford Investment Management (before stock transfer as it goes to toast – the latest notification showing Link Fund Solutions with 19.98%)! Now “Update in relation to loan facility”…
The 10th September-announced half-year results from “regenerative medical devices” group Tissue Regenix (TRX) included “we anticipated that the year would be significantly weighted towards the second half, as announced on the 4 June… We continue to expect that this will be the case… demand for our products is strong”. Now a “Trading Update”…
On the present configuration of Tissue Regenix we see the stock trading in the wake of a December bear trap rebound from below the 15p October floor.
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