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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?!

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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?...

NEWSFLOW

NEWSFLOW

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Trackwise Designs (TWD) has announced it has received valid applications for 3,065,069 open offer shares, including 2,648,010 under an excess application facility, with CEO Philip Johnston stating “we appreciate and recognise the continuing support shown by existing investors and welcome new shareholders to Trackwise. This open offer has allowed those shareholders not participating in the earlier placing and subscription to continue to invest in Trackwise and we are delighted with the interest shown”. However…

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Provider of specialist products using printed circuit technology Trackwise Designs (TWD) “is pleased to announce that it has conditionally raised gross proceeds of £6.0 million… Oversubscribed… This fundraise will enable the delivery of a step change in our IHT commercial proposition”. An oversubscribed growth fundraise... so a good price then relative to a last closing 145p share price?...

NEWSFLOW

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Previously writing on printed circuit technology products manufacturer Trackwise Designs (TWD), with the shares at 225p I concluded with the bottom-line delivery needed to reasonably justify the valuation and what I still consider fundraising shame, I currently continue to avoid. The shares last closed at 226p, but are currently below 200p on the back of updates including full-year results...

NEWSFLOW

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A further fundraising update from Trackwise Designs (TWD) includes that “the company has decided to accept applications under the open offer for £1.625 million (previously £1.0 million)”. I previously called the fundraising shameful, is it still so?...