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Proventec Plc and its participations

Proventec Plc is a holding company listed on AIM. The company has made investments in 6
companies of which four are active in segments that can be called complimentary to the activities of
InnoCleaning Concepts.

Osprey Deepclean 100%
InnoCleaning Concepts 100%
Keronite Ltd 12.6% owned
BioCote Ltd 31.5% owned
Firestop Chemicals Ltd 4.2% owned
Ultra Motor Co 12.6% owned
Hardide Plc Aim listed 31.4% owned
Intellilraft Ltd 9.7% owned
Magma International 100% owned

Of the companies in the portfolio of Proventec, Hardide is the only company that is currently listed on the AIM in London.

Keronite Ltd,
established in 2000 in Cambridge (UK) has developed a material-enhancing coating
technology (plasma electrolytic oxidation, or PEO) for the treatment of light metals such as alloys of
aluminum, magnesium and titanium. The coating allows for a wider use of energy-saving light-weight
metals (and alloys) and is a pre-treatment for decorative paints and lacquers. Applications range
from automotive components and textile machinery to mobile phones and sunglasses. The company
has licensed its technology to a number of companies in Europe, North America and Asia. In
September of 2004 the company raised GBP 0.75m in a secondary offering to fund its growth
strategy. No further financial details available.

Biocote Ltd,
is a Wolverhampton based company that provides advanced surface protection
techniques based on a patented silver-iodization technology. The anti-bacterial powder coating
technology allows for the incorporation of these anti-bacterial agents into various manufacturing
processes thereby remaining present and active for the life of the product/material. The technology is
mainly used in the leisure, food, laboratory and healthcare industry. The company has entered into
several partnerships and license agreements for a large variety of products, although the healthcare
industry is most prominent. The company won the Innovation in Business Award in 2004 for the
Midlands region. Other investors included the Oxford Technology Venture Capital Trust. Biocote was
to be floated on Aim in Q3 2003 but the listing was postponed for undisclosed reasons. No financial
details available.

Firestop Chemicals Ltd,
has developed a range of ecologically friendly flame retardants for use in
textiles, polymers, metals and wood. The flame retardant treatment that the company has patented,
has a minimal effect on the physical properties of the treated material and radically reduces the
emission of toxic fumes. Manufacturing of the agents (Nofla and Bizon) is outsourced to a third party
in Russia. The company signed its first commercial supply agreement in 2004, estimating to
generate GBP 1.6m in revenue in 2004 and GBP 9.0m in 2005. The latest financing round values the
company at GBP 7.9m and an additional round of financing, again in the form of loan notes, is
planned in H2 2005 for a total of GBP 0.75m. Firestop is owned by Flintstone, the EBRD and a
private investor. No other financial details available.

Ultra Motor Company Ltd,
has developed a range of electric motors based on brushed DC motor technology incorporating several patented electro-mechanical configurations that increase the operational efficiency and torque. The company, which is based in Liverpool, is cooperating with manufacturers of motors to develop electric vehicles for a range of segments. In September 2005,
two Indian companies will launch bikes with Ultra Motor’s AH300 motor that runs 35km on a single
charge and has a top speed of 25kph. Ultra Motor is also working on more powerful versions for
motors in rickshaws, motorcycles and hybrid cars. Other investors include Alfa Group Consortium
(Russian Technologies Investment fund). Ultra Motor raised GBP 0.6m in 2004 by selling 40,000
shares. No other financial details available.

Hardide Plc,
an Oxfordshire based company, holds a number of international patents relating to
super hard and wear resistant coating solutions for steel and hard alloy components. The company’s
technology allows for a coating that is both harder and smoother, lowering wear and tear and thus
reducing the replacement of tools and components. Hardide was floated on the AIM in April 2005
with the help of Seymour Pierce, raising GBP 1.75m. Total funds raised amounts to GBP 5.75m. The
company currently has three furnaces in operation and generated its first commercial sales in 2004.
Other investors include the Oxford Technology Fund, which holds 12.7% and Fidelity International,
which holds 9.8%. The current market capitalization of Hardide Plc amounts to GBP 15.3m, valuing
Flintstone’s stake at GBP 5.6m. No other financial details available.

Intellikraft
is active in the field of energy storage and high voltage applications. There is little
information available on this company other than that it is researching new applications for its
patented technology, which revolves around Lithium Sulpher-polymers. In the latest financial
statements of Flintstone (published in July 2005), the participation in Intellikraft was written down
from GBP 0.3m to GBP 0.1m. Oxford Technology Ventures holds an interest of 12.7% which it
valued at GBP 0.1m as per February 2005. No other details available.

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Technology developer Proventec’s (PROV:AIM) share price has fallen by a third from spring’s 13.75p high during
the recent market wobble. But the £22.6 million cap firm continues to make progress on several fronts and CEO David Chestnutt tells Shares, ‘The plan is to speed up the spread of the message.’
Proventec refinanced its debts in March, saving itself £1.5 million in annual interest payments. Disposals of non-core assets,
including a stake in Hardide (HDD:AIM),
raised in excess of £1 million. The Liverpool-based company now has nearly £5 million in cash and the plan is to ‘make
acquisitions to accelerate technology development and improve access to market.’‘We have the products, we have the data and now we need the distribution to create the markets,’ adds Chestnutt.
Its OspreyDeepClean arm is currently trialling its revolutionary steamcleaning products with the NHS, Starbucks and Nestlé and each
test could soon lead to large volume commercial orders.
The Magma operation has won one contract for its fire-resistant coatings for 100,000 telegraph poles in Australia and
Proventec is looking to develop its holdings in Firestop and Biocote more aggressively. Chestnutt says that Firestop’s fire retardant for plastics, Bizon, ‘is potentially the biggest
thing in the group’ and major chemical companies will be testing the product over the summer.
■ Shares says: Proventec has massive potential and will look cheap if one of the steam cleaning or fire-retardant products catches on, let alone all three

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Hier das Geschäftsjahresergebnis von Proventec:

http://www.advfn.com/news_Final-Results_16067560.html

Der Breakeven scheint geschafft zu sein.

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Heute wurden die Halbjahreszahlen von Proventec veröffentlicht.
Es geht weiterhin gut voran mit der Geschäftsentwicklung, wie man auch am aktuellen Kursaufschlag sieht:

http://miranda.hemscott.com/servlet/HsPublic?context=ir.acce…

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Antwort auf Beitrag Nr.: 25.745.025 von erfg am 27.11.06 14:39:39

Englischer Artikel zu Proventec:

Successful clinical trials at University College London Hospitals of its revolutionary steam-cleaning technology were a big step forward for the Liverpool-based firm. Meanwhile acquisitions
to accelerate technological development and improve access to market remain firmly on theagenda.

Proventec recorded a small profit as gains on the disposal of stakes in Ultra Motor and the quoted Hardide (HDD:AIM) offset start-up costs related to commercialising its technology portfolio.

The company will receive a further £1.8 million in cash from the sale of Ultra Motor by 2009, boosting its existing £4 million cash pile, for which CEO David Chestnutt has firm plans. ‘It is no secret we have identified a business in Germany,’ says Chestnutt. ‘We have identified a joint venture partner in France and we have found a business in the Netherlands. We have a number of specific targets but nothing to announce as yet’.

Management hopes to clinch a couple of deals by March and this may not be the end of the corporate activity at the £21.6 million
cap. Firestop, part of the company’s flame-retardant chemicals arm, is still running trials of its Noflan and Brizon products with clients and initial feedback has been positive.
‘The potential is big, so big we may not be the best equipped to realise that potential,’ argues Chestnutt. ‘We need to have a hard talk about how to take Firestop forward next year. It could be too much to take on and we need to work out the best way to get a reward for this potential for shareholders.’

■ Shares says: Lots going on and there is value here for fans of sum-of-the-parts calculations. Buy.