Plexus Holdings (POS)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE AIM All-Share

17.25p
   
  • Change Today:
    -0.50p
  • 52 Week High: 28.60
  • 52 Week Low: 2.60
  • Currency: UK Pounds
  • Shares Issued: 105.39m
  • Volume: 281,734
  • Market Cap: £18.18m
  • RiskGrade: 216

Plexus suspends trade with Russian partner Gusar

By Josh White

Date: Monday 07 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Oil and gas engineering service provider Plexus updated the market on the effects of Russia's invasion of Ukraine on Monday, confirming the suspension of its licence agreement with Gusar.
The AIM-traded firm said under the deal, Gusar is able to supply Russian and Commonwealth of Independent States (CIS) markets with Plexus' 'POS-GRIP' rental exploration wellhead equipment.

As a result of the ongoing situation in Ukraine, Plexus said it had decided to suspend activities with Gusar until further notice.

"The suspension of these activities is not expected to have a material impact on Plexus' financial trading performance in the year ending 30 June 2022, which the board anticipates will remain in line with market expectations," the company said in its statement.

Plexus did warn, however, that it was likely to incur a Gusar-related negative cash flow impact of about £0.65m in the 2022 financial year, relating to a combination of pending royalties, and planned advanced-stage payments for wellhead equipment, which as a result of the invasion, were now currently uncertain.

As the company had recently been performing well, the directors said they currently expected that despite the situation, Plexus' year-end cash position would be "broadly in line" with expectations.

"On a more positive note, apart from the positive progress with Cameron in relation to the surface production wellhead licence, Plexus is actively pursuing opportunities in its main target markets outside of Russia, in particular the UK and European continental shelves.

"These include production wellhead sales, a number of Plexus product developments utilising proprietary POS-GRIP technology, and importantly our newly re-entered exploration rental wellhead market activities following the recent signing of a collaboration agreement with Cameron International Corporation - a Schlumberger company.

"These ongoing initiatives are expected to gain momentum in the next financial year."

Plexus said it would continue to monitor the situation in Ukraine and the impact on Russian commercial activities, and would provide further updates as required.

At 1437 GMT, shares in Plexus Holdings were down 8.84% at 5.01p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Plexus Holdings Market Data

Currency UK Pounds
Share Price 17.25p
Change Today -0.50p
% Change -2.82 %
52 Week High 28.60
52 Week Low 2.60
Volume 281,734
Shares Issued 105.39m
Market Cap £18.18m
RiskGrade 216

Plexus Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.89% below the market average79.89% below the market average79.89% below the market average79.89% below the market average79.89% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Price Trend
59.54% above the market average59.54% above the market average59.54% above the market average59.54% above the market average59.54% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Income Not Available
Growth
27% below the market average27% below the market average27% below the market average27% below the market average27% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average

Plexus Holdings Dividends

  Latest Previous
  Special Final
Ex-Div 21-Mar-19 05-Nov-15
Paid 08-Apr-19 16-Dec-15
Amount 1.00p 1.75p

Trades for 28-Mar-2024

Time Volume / Share Price
15:31 17,144 @ 17.44p
14:56 20,000 @ 17.11p
14:00 1,493 @ 17.80p
14:00 93 @ 17.80p
14:00 1,400 @ 17.80p

Plexus Holdings Key Personnel

CEO Bernard van Bilderbeek
Finance Director Graham Stevens

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