“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”
Currency in GBP
Last close As at 26/05/2023
GBP0.01
▲ 0.03 (2.40%)
Market capitalisation
GBP4m
Light Science Technologies Holdings offers a range of products and services for improving productivity in controlled environment agriculture (CEA). It also offers an end-to-end, full-service contract electronic manufacturing capability (UK Circuits) based in the UK.
The proceeds will predominantly be used for product development and intellectual property protection in the company’s CEA division, as well as for general working capital purposes. In parallel with the fund-raising activity, management is seeking to cut the company’s working capital requirements by reducing the costs of the board and related salaries, taking deposits on CEA systems from customers and making other cost savings within the business.
Director, Industrials
Andrew Hempsall
COO
Jim Snooks
CFO
Myles Halley
Non-executive chairman
Simon Deacon
CEO
Forecast net debt (£m)
1.6
Forecast gearing ratio (%)
87
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | 15.9 | (71.7) | (89.4) |
| Relative | 20.3 | (70.5) | (89.3) |
| 52 week high/low | 12.0p/1.1p |
Light Science Technologies Holdings has conditionally raised £1.6m (gross) through a placing, private subscription and WRAP retail offer at 1p/share. Of the 107.8m placing shares, 29.5m have been taken by a single investor and use the company’s existing authority to issue shares for cash. These shares have already been admitted to trading, raising £0.3m (gross). Issue of the remaining shares is conditional on shareholder approval at a general meeting on 21 April 2023. Assuming that shareholder approval is granted, this will increase the total number of voting rights to 333.0m. We will update our estimates when the outcome of the general meeting has been announced.
| Y/E Nov | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 6.9 | 0.5 | 0.2 | 0.10 | 12.8 | 4.6 |
| 2021A | 7.4 | (1.1) | (1.6) | (0.81) | N/A | N/A |
| 2022E | 8.2 | (1.7) | (2.3) | (1.21) | N/A | N/A |
| 2023E | 10.9 | (0.4) | (1.0) | (0.47) | N/A | N/A |
Get access to the very latest content matched to your personal investment style.
