Register
Login:
Share:
Email Facebook Twitter

RNS VIDEO: Reabold Resources #RBD raise £6 million and take stake in Danube Petroleum Watch here

EXCLUSIVE: HemoGenyx are creating blood cancer treatments with US$9 billion market potential


Hayward Tyler Group Share Chat (HAYT)


HAYT Share Chat
HAYT Share Chat
HAYT Level 2 Console
HAYT Level 2 Console
HAYT Live Share Price
HAYT Live Share Price
Buy HAYT Shares
Buy HAYT Shares
Add HAYT to Watchlist
Add HAYT to Watchlist
Add HAYT to Alert
Add HAYT to Alert
Close Info Alerts is a Premium Feature
Login or start your FREE trial today.
Add HAYT to myTerminal
Add HAYT to myTerminal

There is currently no data for Hayward Tyler Group.


Share Discussion for Hayward Tyler Group


Thread View

Please login or register to post a message on Share Chat.

Posts per page:


flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:44.00
RE: Bid
14 Jul '17
If refinancing were impossible or even difficult, you surely wouldn’t have a senior bod member in Maurice Critchley not recommending this merger. It’s more about this rather nebulous concept of bod members’ “commercial assessment” imo. The split means there’s a very strong view HAYT’s future is best left in its own hands. The absence of news suggests to me that dealing with refinancing and good news is being delayed/suppressed.

I agree the sp might fall if the merger doesn’t go ahead, but imo only temporarily, because we’d also probably see a swift refinancing and hopefully release of order book/cash collection news. That will be being withheld atm. There’d be board changes too causing more uncertainty.

PS Where's our chum shareminator?! I don't know where his info came from but I think he was suggesting the merger option was being pursued because otherwise a placing was necessary to recapitalise, but this was being resisted by the bod (minus MC) as they lacked funds to participate and were playing dog in the manger by going for merger so as not to dilute themselves in the placing, and so that ELB could get a bod position at AVG. Sorry if I've misquoted you shareminator.
 
dannatt
Posts: 13
Off Topic
Opinion:No Opinion
Price:44.00
Bid
14 Jul '17
I'm considering accepting this bid because the alternatives don't look very promising.If they could refinance they would have by now.With no counter offer and this bid failing I can see a sharp fall in the share price.As part of Avingtrans and a larger entity we could have a bright future with the debt wiped out.
flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:44.00
RE: Vote
12 Jul '17
I think the current position is still:

The aggregate percentage of the issued share capital of HTG represented by those irrevocable undertakings and letters of intent provided by HTG Shareholders, as detailed in Appendix 3 of the Announcement, remains unchanged at 31.3 per cent. and 11.7 per cent. of the HTG issued share capital, respectively.

So by no means nailed on.

Vote NO!
dannatt
Posts: 13
Off Topic
Opinion:No Opinion
Price:44.00
Vote
12 Jul '17
Thanks for that flundra. Looking ever more likely it may go through.
flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:44.00
RE: Vote
12 Jul '17
I don't think we know yet.

I've just realised there's a separate website for takeover announcements:

http://htg.global/investor-relations/takeover-code-requirements

Amongst other things it confirms Mr Sneller is voting in favour
dannatt
Posts: 13
Off Topic
Opinion:No Opinion
Price:44.00
Vote
12 Jul '17
Does anyone know when we vote for the Avingtrans bid.
poole
Posts: 22
Observation
Opinion:No Opinion
Price:46.50
An alternative suitor?
10 Jul '17
Just a thought on seeing that TP Group has today announced plans to raise around £24m to add to existing cash resources to fund existing business and make acquisitions.
flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:46.50
RE: flundra
8 Jul '17
Hi Shareminator

On the cash issue, you may be right about the need for recapitalisation and directors resisting dilution, but I’ve always seen it more positively, and think revenues and settled debt/overdraft facilities are achievable and will suffice, and enable continuation of the dividend even. The difference in monthly payments between servicing £22m of debt and a more conservative pile cannot be more than a few £10ks. That is entirely manageable, surely, until revenues pick up, which they should be doing by now anyway. But I agree it’s becoming more difficult to form a view, the longer this radio silence goes on.

I’m not sure how many PIs there are but I think everyone posting on this BB is voting against the deal. That might represent the general view. Hopefully other PIs are informed and perhaps read the BBs even they don’t post. There seems to be little or no commentary on the deal out there in the press, for sure. It would be good to see some. Richard Sneller’s direct phone number is on his disclosure forms. He owns 6%+. He’s maybe a nominee/trustee for a third party (he’s a fund manager by profession), but what’s his view I wonder?

I’m still hopeful the deal will be kicked into touch. It really makes no sense, unless the debt burden cannot be refinanced on reasonable terms imo. That question is price sensitive info, and as we are being told that RBS is supportive and we have not heard refinancing is impossible (we’d know by now if it was imo), I would assume we can refinance, and the only reason for delay is heel dragging by the BoD pending the vote on merger. On balance the other business pointers are also clearly positive.

The nuclear sector is rightly becoming very significant, and the opportunities there are vast. China and India alone represent a huge burgeoning market, even if one were to take Japan USA Korea and Europe out of the equation.

The BoD seem to have donned their tin hats and retreated to their bunker, presumably to tough it out till the vote. But the deal might fall through, HAYT is still a business, and they should come out and deliver on their ongoing duties to shareholders and stakeholders in the meantime. They’re surely legally bound do this despite a pending merger, and even if they’re pulling in different directions on the deal, or not wanting to be diluted etc. They should get on with the refinancing and/or other fund-raising, keep the order and other news coming, and agree and announce the dividend policy. I think they’re playing a bit fast and loose atm tbh imo.

Regards
the_shareminator
Posts: 10,792
Off Topic
Opinion:No Opinion
Price:46.50
flundra
7 Jul '17
From what I gather the Board have not proposed a rights issue because they would be significantly diluted unless they could cough up a lot of the cash themselves. With the exception of MC I don't think the Board or their relatives are in a position to pledge that kind of money to retain their current positions. Instead ELB will continue on with AVG as a non-exec I believe if the deal succeeds.

How to gather enough votes and engage enough people invested here that this deal is bad for them? Without knowing address or telephone numbers of smaller pi's we only have the chat sites and social media. Possibly a share magazine could sponsor an article on such a move but we would likely need to pay a fee for that and hope the writers are not AVG shareholders.

The cash on hand was less than I expected but the results have a few glimmers of hope. We had £1.2m cash end of March and net assets improved since the half year point. We are more than 3 months into the new year and it might be useful for all if we had an update soon rather than leaving it until October when they will announce an Interim trading update. I do expect the cash position to have risen but we are in the dark until the company inform us. Or if the deal fails and a refinancing takes place, HAYT may then inform holders that they have paid a sum of cash to the bank - this would suggest cash on hand has increased substantially as they would not otherwise be in a position to reduce their cash (vital for the companies day to day business). All those trade receivables mounting up, expect some of those are being dealt with in the first half. Also the fact the order book is at a record £49m suggests we are in a good position to turn much of that into cash short term.

A refinancing of debt would have solved this and still can if the company can prove they are actually turning a net profit now. If things are tight and despite cash on hand rising it doesn't enable the company to repay the short term borrowings, I would favour a rights issue to reduce the debt and provide the company enough room to trade it's way out of danger. We still need favourable refinancing terms though. GL
flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:48.50
RE: AVG Interims
5 Jul '17
Agree shareminator. Perhaps time for an activist shareholder to take a stance with MC and derail this offer.

I'd also be perfectly comfortable servicing the debts for a while till revenues build back up. The debt was reasonably to be expected, and the whole point of all that investment was to improve performance in the operational facilities, grow revenues and shorten the revenue cycle! And it's working! Can HAYT really not manage £100k or so a month for a short while? I'm sure they can. Revenues are over £60m+ pa and improving! We've done all the hard work, now we seem to be trying to snatch defeat from the jaws of victory! Now is not the time to lie back with our legs apart.

HAYT should be refinancing right now, or come clean and tell us that they have tried but been unable to secure terms with RBS or other banks.




Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.