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Hayward Tyler Group Share Chat (HAYT)


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flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:45.00
Volume
29 Jun '17
No volume to speak of, and no apparent leaks. Interesting given there's a momentous day ahead...
 
Howard05
Posts: 177
Off Topic
Opinion:No Opinion
Price:45.00
MERGER
29 Jun '17
I guess a merger will be announced AVG very good at building up companies then selling
comeonvog
Posts: 4,896
Off Topic
Opinion:No Opinion
Price:45.00
RE: HAYT
29 Jun '17
To be honest i dont mind ether way , wouldn't even mind a wobble. ;-).
flundra
Posts: 543
Off Topic
Opinion:No Opinion
Price:45.00
RE: HAYT
29 Jun '17
To my mind, the gearing’s fine, and the banking covenants and facilities are readily resolvable (and probably have been resolved). The 2017 figures and knock on effects on banking covenants and loan repayments, have had an over-exaggerated impact on sentiment and the SP. Such is the downside of being tied to specific immovable financial year dates. Seen in context and in the longer term though, the poor figures from 2017 should be seen as a growth pain, rather than a sickness imo.

I suspect tomorrow we will see: AVG walk away, 2017 revealed as ugly but no worse than currently expected, banking facilities/covenants resolved, loans refinanced, and HAYT advise a good start to 2018 with a cautiously optimistic forecast going forward. SP to bobble then climb back up. They’ll underpromise but overdeliver this year to make up for 2017 being the other way round.

imo bwtfdik etc
graham-wales
Posts: 32,805
Off Topic
Opinion:No Opinion
Price:45.00
Guys
29 Jun '17
Cheers for that, think I've nearly got it 🤔
Dinoken
Posts: 324
Off Topic
Opinion:No Opinion
Price:44.50
RE: HAYT
29 Jun '17
Must admit, its a bit of a relief that AVG won that Sellafield contract because the share price shot up from 202 to current 235, still well below original 257. Assuming a paper bid for HAYT, at least the AVG sp is currently holding up. However, AVG also have a cash pile of 28mil so maybe some cash will be on offer. Cannot believe AVG will just walk away. The two companies look such a good fit. Roll on Friday.
the_shareminator
Posts: 10,792
Off Topic
Opinion:No Opinion
Price:44.00
View Thread (2)
RE: HAYT
29 Jun '17
Hi chanjael, if it's the same characters talking down HAYT over there it's no surprise where they have placed their chips. Many of the posts on the ADVFN board concerning this company were wildly inaccurate especially concerning an imminent placing, the BoD being replaced etc. When the bid came they changed their tune regarding dilution. Is there any basis for AVG picking up this company on the cheap? If at current levels we are talking about cheap £24m I think it's highly unlikely unless the refinancing terms stipulate something concerning liquidity which only AVG can offer short term. But then even that could be dealt with through a placing. So at this stage I wouldn't worry about HAYT going for 44p or less. The offer will be put to shareholder who must vote as a majority in favour, again not likely unless we are getting a good deal.

AVG are up 15% from their June lows partly owing to a recent contract win and as the poster below highlights the results for the FY are nothing special. They have access to working capital but there is no chance of AVG spending that on this acquisition. A merger offer may come valuing HAYT around £30m and we would be given new shares in AVG but I would expect that to be rejected by holders here and so might AVG. It would be in AVG's interest to pick this company up now given the liklihood of removing the financing risk, the growth prospects and the return to profitability following the heavy investment of capital. We are valued this low simply because of perceived financing risks but in one years time the situation will appear much rosier. Fast forward 3 years and you get the point. AVG must have been crunching numbers over this time and realise the potential. The question left that needs answering is surrounding the company's debt and if terms can be improved.

So in answer to your question AVG may offer a low sum but I expect that will be rejected. I don't see AVG making an appropriate offer of 70-80p as it would dilute their holders considerably therefore we will likely continue trading as separate entities
Schrodingerscats
Posts: 59
Observation
Opinion:Hold
Price:44.00
Expectations?
28 Jun '17
"Avingtrans also confirmed that although revenue for the year to the end of May was slightly behind management outlook, it closed the year with adjusted profit before tax marginally ahead of internal expectations and net cash of £26.2m." Avg needs imo new markets and there are alot of oil finds needing equipment.
chanjael
Posts: 154
Off Topic
Opinion:No Opinion
Price:44.00
RE: HAYT
28 Jun '17
Thanks for that Shareminator. Can you throw any light on why the concensus on the ADVFN AVG chat board is that they're going to pick up HAYT at a steal? Is it simply biase because they are holding AVG? What worries me is that some of the posts seem well researched and quite convincing. Surely HAYT is worth 65-70p of anyone's money?
the_shareminator
Posts: 10,792
Off Topic
Opinion:No Opinion
Price:44.00
RE: HAYT
28 Jun '17
graham the link I highlighted below is the update released on June 23 and the company have granted AVG one further week to make the offer and this ties in with FY results announcement and repaying the loan / dealing with a refinancing.

My guess is they want to see the results breakdown and more importantly initial trading figures and liquidity. AVG will have run a variety of scenarios as to what we may expect and probably have an 'offer' for each case in point. I say this because they won't get an early look in on these results (they may have had access to certain figures because of the due diligence access they are permitted) and given all dates coincide on the 30th there must be some significance.

I'm hoping for a repayment of loan, completion of refinancing and an improved outlook with trading figures profitable in the first half.

AVG offer around 60p would help.




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