this is not an unjustified rise. Some may have pumped it and they may have dumped and moved on, but they will miss out on further rises, IMO.
My reasons for saying that? Post 1343 a couple of days ago:
Surely the prospects now look better than at any point - with an expanding range of products and contracts. The announcement of this one alone sent the price above 20p in the spring this year:
"7th March 2005
Symphony Plastic Technologies plc
Distribution Agreement - Saudi Arabia
Symphony Plastic Technologies Plc ("Symphony"), the degradable plastics company,
through its wholly owned subsidiary Symphony Environmental Ltd, has entered into a fifteen year exclusive distribution agreement with Gulf Business Network
Trading Company Ltd., ("GBN") of Saudi Arabia.
The fifteen year agreement will allow GBN to sell and market Symphony's d2w
degradable additive products exclusively into The Kingdom of Saudi Arabia. As
part of the agreement GBN undertakes to purchase not less than US$450,000 of
products within six months and not less that US$2.43 million in the first year
with the volumes increasing by not less than 110% of the preceeding year
thereafter."
This contract more than compensates for the Somerfield loss. And do the maths. It looks like they could currently buy the whole company for around the level of their 2007 commitment.....
The share price was mid-20s in February 2004 when proceedings began. Since then revenue has increased by around 50%, multi-year contracts have been awarded and losses have fallen from almost £3m to what is looking like around £600K for this year? I think the chart illustrates that with the Court case now over just what the potential might be....
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