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  • Writer's pictureMark Watson-Mitchell

Plant Health Care – Hong Kong/BVI hedge fund investor increases stake after decision to stay on AIM

Plant Health Care – Hong Kong/BVI hedge fund investor increases stake after group’s decision to stay on AIM


Following a recent round of consultations Plant Health Care (LON:PHC) decided to remain listed on London’s AIM market, now a major investor has increased his holding in the undervalued company.


Non-Exec Chairman Chris Richards commented:


"We are grateful to shareholders for taking part in the consultation.


The Board is pleased with the strong support we received from investors for the Company's organic growth strategy, and their belief in the long-term prospects of the Company.


The Company will seek to continue delivering commercial progress through a diversified product offering and enhanced geographic reach.


We have developed the exciting PREtec platform to deliver our future product pipeline and Harpinαβ continues to demonstrate strong growth.


Delivering revenue growth of 40% in FY22 is testament to the quality of the management team and we remain on track to achieve our target of $30m revenue in 2025, achieving cash breakeven and profit along that track."


Hedge Fund Manager increase his stake


That decision looks to have had its effects upon one of the group’s larger investors in so much as to adding almost 20% more shares to his holding.


From Hong Kong, Scobie Dickinson Ward has notified the company that yesterday he added another 1.61% of the group’s equity, taking his holding up to 9.72% and building upon his position as the third largest holder.


The extra 5m shares takes his position up to 30,173,280 shares, out of the total 310,484,552 in issue.


Scobie Dickinson Ward is the Executive Chairman and Director of the hedge fund Ward Ferry Management (BVI), which is an independent investment firm founded in 2000 and actually based in Hong Kong. It manages investment funds focussed on the Asia Pacific region for global institutional investors.


Conclusion – totally undervalued


Plant Health Care offers products to improve the health, vigour and yield of major field crops such as corn, soybeans, potatoes, and rice, as well as specialty crops such as fruits and vegetables.


It operates globally through subsidiaries, distributors and supply agreements with major industry partners.


The group’s innovative, patent-protected biological products help growers to protect their crops from stress and diseases, and to produce higher quality fruit and vegetables, with a favourable environmental profile.


Ahead of its AGM in two weeks time, the £31m company’s shares are currently trading at only 9.80p, while its broker’s Cenkos Securities rate the shares as a Buy, with a 37p Target Price.


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