STT EnviroCorp (v.STT)
Posted: Monday Mar 27 6:57:44PM 2017
STT received and accepted a takeover offer of $0.315 (see below). After a couple down years during the oil decline, STT found new life/applications in a new sector, and has been snapped up by one of those players (that it had previously entered a JV with). Anyway, we'll take 'er! STT closed the day at $0.305. Have a good night!
STT Enviro agrees on 31.5-cent-a-share takeover offer
2017-03-27 09:31 ET - News Release
Mr. Robert Tweedy reports
CARMEUSE LIME (CANADA) LIMITED AGREES TO MAKE OFFER TO ACQUIRE STT ENVIRO CORP.
STT Enviro Corp. and Carmeuse Lime (Canada) Ltd. have entered into a definitive support agreement, pursuant to which Carmeuse has agreed, subject to the terms of the agreement, to acquire all of the issued and outstanding common shares of the company for 31.5 cents per common share in cash by way of a board-approved takeover bid.
The offer consideration represents a 66.2-per-cent premium to the company's 20-day volume-weighted average price on the TSX Venture Exchange for the period ending March 24, 2017 (the last trading day prior to the announcement of the offer), and a 57.5-per-cent premium to the company's closing price on March 24, 2017.
"The offer from Carmeuse is a recognition of STT's quality products and service and the brand that has been built by our dedicated staff and management," said Robert J. Tweedy, chairman of STT. "The board believes that the transaction represents excellent value for our shareholders."
"We are pleased to announce the acquisition of STT," said Jack Fahler, vice-president of sales and marketing for Carmeuse. "The addition of STT will broaden our spectrum of offerings to include lime processing and bulk chemical system engineering, lime slaking optimization and ongoing monitoring, lime/bulk chemical/transload project construction, and customer process advice. STT will complement Carmeuse's current strengths of quality product, supply chain logistics and product development."
The board of directors of STT has unanimously determined that it would be in the best interests of STT to support and facilitate the offer, and has unanimously resolved to recommend that STT shareholders deposit their STT common shares under the offer, subject to receipt by the special committee of the board formed in connection with the proposed transaction of a confirmatory opinion from STT's financial adviser that the offer is fair, from a financial point of view, to the shareholders of STT.
Posted: Monday Dec 7 7:41:56PM 2015
STT.v C$.25 sold out of STT last week. Reviewed website. Energy is a big part of their business. Less drilling = less need for tanks to store frac sand, liquids, etc. Oil is continuing downwards as OPEC isn't budging from production and US production has been stubbornly high.
Posted: Tuesday Nov 10 3:22:07PM 2015
STT.v -.025 to C$.265 STT Enviro Corp reported Q3 earnings today. Net profits were down from last qtr and last year. Earned C$98,478 for Q3 or .002eps vs C$322,396 or .009eps same qtr last year.
Posted: Friday Oct 23 9:36:02AM 2015
stt.v +.025 to C$.265
TORONTO, ON--(Marketwired - October 22, 2015) - Further to the Notice of Meeting and Record Date filed on SEDAR on August 21, 2015, STT Enviro Corp. ("STT" or the "Company") (TSX VENTURE: STT) held a special meeting of shareholders today.
The purpose of the meeting was to put the Company in a position to implement a dividend policy in the future through a reduction in the Company's stated capital by an amount equal to the balance of the Company's retained earnings deficit at December 31, 2014. Of the votes cast, 99.3% were cast in favour of the resolution, and the Company may now reduce both its stated capital and deficit by up to $14,033,620, resulting in no change to total shareholders' equity, and thereby bring the Company into compliance with the Canada Business Corporations Act provisions to permit it to pay dividends.
About STT Enviro Corp.
STT Enviro Corp. (TSX VENTURE: STT) supplies cost-effective, incremental, environmental improvements to traditional industrial products. The Company's two operating groups, STT Enviro Corp Systems & Solutions and STT Enviro Corp Tanks & Industrial, work to reduce their customers' environmental footprint, cost efficiently.
STT Enviro Corp Systems & Solutions engineers and supplies chemical make-down systems to neutralize pollutants (usually acid water) created in the ore or oil recovery process; and aftermarket services including optimization of chemical use for our customers to lower costs and reduce their carbon footprint.
STT Enviro Corp Tanks & Industrial engineers and supplies bolted tanks with a smaller environmental footprint for both dry and liquid storage applications.
Environmental considerations are prerequisites in modern industrial expansion and STT Enviro Corp. is focused on being a leader and innovator on incremental environmental improvements. The Company's strategy is to grow organically and, longer term, to acquire companies at prices which are strategically and financially accretive.
For more information, please visit our website at www.sttenvirocorp.com.
Posted: Wednesday Oct 14 2:10:56PM 2015
Nibbled on a little STT.v today at .275. Dividend vote sounds encouraging and results have been good. Sounds like drop in oil price has actually helped them sell their cheaper assembled tanks rather than seamless products.
Posted: Thursday Sep 24 5:51:31PM 2015
STT will be holding a special meeting in October to position itself where it can institute a dividend policy (see below).
Have a great weekend!
"...The purpose of the meeting is to put the company in a position to implement a dividend policy in the future. This is currently not permitted due to a technical provision under the Canada Business Corporations Act (CBCA), which prohibits the payment of dividends if, after paying dividends, the company's assets would be less than the sum of its liabilities and stated capital of all classes of shares. At the meeting, shareholders will be asked to approve a resolution to reduce the company's stated capital by an amount equal to the balance of the company's retained earnings deficit at Dec. 31, 2014. Approval of the resolution will reduce both the stated capital and deficit by the same amount, resulting in no change to total shareholder equity, and will bring the company into compliance with the CBCA provisions to permit it to pay dividends. There is no impact on taxes, cash flow or valuation of the company as a result of approving this resolution. David E. Deacon, chief executive officer of STT, commented: "In the past few years, the company has proven its ability to consistently generate cash from operations. It has also completed an ambitious debt repayment plan. While the company intends to continue its growth plan through organic growth and accretive acquisitions, we believe that it is important that the company be in a position to implement a dividend policy. The resolution to be tabled at the Oct. 22, 2015, meeting puts the company in a position to do so when it feels it is appropriate. Shareholders are encouraged to vote in favour of the resolution to allow a dividend policy to be implemented in the future."
Posted: Monday Aug 17 7:59:00PM 2015
Some encouraging results released today from STT EnviroCorp (v.STT). It closed today at $0.29. See below.
STT Enviro earns $602,243 in Q2
2015-08-17 08:20 ET - News Release
Mr. David Deacon reports
STT ENVIRO CORP ACHIEVES RECORD FINANCIAL RESULTS FOR ITS QUARTER ENDED JUNE 30TH, 2015
STT Enviro Corp. has released its financial results for the quarter ended June 30, 2015. It had approximately $11.2-million in revenue, $1.2-million of EBITDA (earnings before interest, taxes, depreciation and amortization) and net income after tax of $600,000. For the six months ended June 30, 2015, the company reported approximately $19-million of revenue, $1.9-million of EBITDA and net income after tax of $880,000.
FINANCIAL HIGHLIGHTS FOR THE QUARTER Quarter ended Quarter ended June 30, 2015 June 30, 2014 Revenue $11,166,560 $4,982,579 EBITDA 1,155,912 359,584 Net income before tax 884,250 151,163 Net income after tax 602,243 206,558 EBITDA per issued common share 0.024 0.010 Earnings per share -- basic 0.013 0.006 Earnings per share -- diluted 0.012 0.006 FINANCIAL HIGHLIGHTS FOR THE YEAR TO DATE Six months ended June Six months ended 30, 2015 June 30, 2014 Revenue $19,905,696 $10,001,396 EBITDA 1,913,392 984,634 Net income before tax 1,306,319 615,841 Net income after tax 884,078 558,296 EBITDA per issued common share 0.045 0.032 Earnings per share -- basic 0.021 0.018 Earnings per share -- diluted 0.020 0.017 Closing backlog 25,076,216 12,859,648 Closing working capital 5,562,105 3,736,961
David Deacon, chief executive officer, commented: "We are pleased to report a record quarter. Our entry into complementary areas of business was an attempt to regain sales momentum despite major headwinds and I am pleased to share results that show our strategy has worked. It is also worth noting that our sales funnel remains full. The company has been fortunate to have very dedicated employees who have been instrumental in executing this push into new markets and in continuing to improve our profitability."
He continued: "The strong cash generation in the first half of the year means that even after the retirement of all remaining long-term debt during the second quarter of 2015, the company still has approximately the same working capital surplus it had at the end of first quarter 2015. The company has repaid $5.4-million of term debt since the beginning of 2013 and is well positioned to pursue organic growth and growth through acquisition."
The company will hold a conference call to discuss the financial results on Aug. 18, 2015, at 11 a.m. Eastern Time. The call-in numbers are 1-877-407-8031 (toll-free) or 1-201-689-8031 (international).
The financial statements and MD&A are available on SEDAR and have also been posted on the company's website.
We seek Safe Harbor.