Previously writing on printed circuit technology products company Trackwise Designs (TWD), last week I noted a 1p per share equity raise bailout despite the shares having previously closed at 12.65p – and that the best broker finnCap could apparently do. It included a proposed £1.5 million open offer though I concluded, as the shares slumped to below 1.5p, that with still “it is likely that the group will need to raise additional funding by the end of the third quarter of 2023”, it’s good luck with the open offer! And hopefully my prior warnings were heeded… avoid/sell. At 1:09pm today a Stock Exchange Notice, “Trackwise Designs plc - Suspension”, so what’s going on now?
Previously writing on printed circuit technology products company Trackwise Designs (TWD) as the shares more than doubled to above 17p and a £6.5 million market cap I concluded that ‘I retain concern on the additional funding options in the current admitted massively challenging macro business environment. As such, I currently continue to avoid’. The company though today commences an announcement with that it “is pleased to announce a proposed conditional placing to raise gross proceeds of £3.65 million”. Admittedly, the shares last closed at 12.65p…but at least a ‘pleasing’ price in relation to that then?
Trackwise Designs (TWD) has announced a “New Agreement with UK EV OEM” and the shares have currently more than doubled to above 17p, so what’s the detail?
Whilst Trackwise Designs (TWD) describes itself as “a leading manufacturer of specialist products using printed circuit technology”, I noted in July with the shares at 36p what about the going concern uncertainties?!. Now a “UK EV OEM contract update”-titled announcement... and the shares currently down to 11.5p!
Describing itself as “a leading provider of specialist products using printed circuit technology”, Trackwise Designs (TWD) states it “is pleased to announce its preliminary results for the year ended 31 December 2021 and to provide an update on trading for the six months ended 30 June 2022”. So why have the shares currently responded to 36p, more than 19% lower?!
Describing itself as “a leading provider of specialist products using printed circuit technology”, Trackwise Designs (TWD) has issued a trading update including that it “expects to deliver FY22 adjusted operating profit, and adjusted profit before tax, in line with market expectations… Cash of £3.2m has been received this month relating to asset financing for capital equipment now on site and commissioned at Stonehouse… will significantly increase Trackwise's production capacity to meet expected demand for Improved Harness Technology across its target markets”. So why currently a more than 18% share price fall below a 50p share price?...
