Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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This morning - there was cancellation of listing.
The same link at previous BB posts here.
@livestock – Thanks for link.
The thing I like about these professional ratings agencies is they balance the good and the bad.
And, overall, AML is clearly improving in their view with is a positive thing.
Will be interesting to see the approach Adrian Hallmark will take when he arrives.
Have a good day, cheers, Paul. :-)
Autocar is impressed 👍
https://www.autocar.co.uk/opinion/business-corporate/why-hallmark-appointment-huge-coup-aston-martin
Could be, Thank you Ches.
Only reason I wonder was because the idea of loan notes (13/3 I think) was on RNS so I thought RNS will be happen for confirmation of completed (loan notes).
I think in my opinion RNS for completed (loan notes) until 2029 will bring SP up.
We will have to buy more time and patience to get SP back up in slow pace hopefully.
The things - Loan Notes completed, CEO found and AM acknowledged about Swiss company (yet agreed price to pay) then the negative should be out of way for next 12-18 perhaps 24 months to see improvement AM.
Lots of rumours for F1 (different company) and we witness with McLaren (sold), and AM was one of rumours ‘sold’ we should ignore this for now.
Just had a quick scan of the RNS 's after the previous notes and can't find a notification of completion for those, so maybe its not required?
Hmmmm, no RNS I find this bit odd? Need more time? Or it not necessary for RNS?
Good news! Look forward what new CEO can do for us.
C26, I can see this (you and your team) will detached from this share to other share - byeeeee.
During his tenure, sales of the ultra-luxury British marque rose significantly, from 9,559 units during his first year to 15,174 cars in 2022.
https://www.google.com/amp/s/www.motor1.com/news/713382/bentley-boss-retires/amp/
Stroll said: "I am pleased that Amedeo will remain in post until Adrian joins and will continue to oversee the launch of our upcoming products, with our breathtaking line-up of new front engine sports cars a fitting legacy to his time leading the company and its product strategy.
"In Adrian Hallmark, we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry."
https://www.proactiveinvestors.co.uk/companies/news/1043773/aston-martin-poaches-bentley-boss-1043773.html
This is good news, very experienced chap...
Another slap in the face for C26....I think he was saying that no one would want to take the job on....
Appointment of New Chief Executive Officer
· Adrian Hallmark, experienced ultra-luxury automotive leader, appointed new Chief Executive Officer
· Former Chairman and Chief Executive Officer of Bentley Motors to succeed Amedeo Felisa, who will stand down as Chief Executive Officer of Aston Martin
· Hallmark to commence position no later than 1st October 2024
The Board of Aston Martin today announces the appointment of ultra-luxury automotive leader Adrian Hallmark, who will join Aston Martin as an Executive Director of the Company and its Chief Executive Officer no later than 1 October 2024.
Hallmark, aged 61, will join Aston Martin from his recent position as Chairman and Chief Executive Officer of Bentley Motors, a role he has fulfilled since 2018. He brings more than 25 years of highly successful senior automotive experience from the US, Europe, and Asia with companies such as Bentley, Porsche and Volkswagen.
Ensuring a smooth transition in leadership, Amedeo Felisa will remain as Chief Executive Officer until Hallmark takes up post. Felisa will continue to oversee the introduction of Aston Martin's exciting new products, including the launch of its third next generation sports car later this year, completing its class-leading, new front-engine portfolio following the successful launches of DB12 and Vantage.
Commenting on the new appointment, Lawrence Stroll, Executive Chairman of Aston Martin, said:
"When Amedeo was appointed CEO, I spoke of him leading a new phase of growth and development. Two years on, we have delivered on that promise, as we near completion of our thrilling new product portfolio and move closer to our vision of becoming the world's most desirable, ultra-luxury British performance brand.
"I'd like to personally pay tribute to Amedeo, recognising not just what he has achieved at Aston Martin but throughout his long and distinguished career at the very top of the ultra-luxury automotive industry. I am pleased that Amedeo will remain in post until Adrian joins and will continue to oversee the launch of our upcoming products, with our breathtaking line-up of new front engine sports cars a fitting legacy to his time leading the Company and its product strategy. We look forward to celebrating Amedeo's contribution to Aston Martin's recent success before wishing him the very best.
"In Adrian Hallmark, we are attracting one of the highest calibre leaders not just in our segment, but in the entire global automotive industry. Complementing our world-class leadership, Adrian will bring to Aston Martin unrivalled experience in both the ultra-luxury and British manufacturing sectors to progress our strategy and continue recent momentum."
Aston Martin Lagonda Global Holdings Plc is expected to appoint Bentley Motors Limited Chief Executive Officer (CEO) Adrian Hallmark as its new CEO, the Financial Times reported on Friday, citing two sources with knowledge of the matter.
According to the report, Hallmark is set to join Aston Martin later in the year to succeed the current luxury sports car manufacturer's CEO Amedeo Felisa.
Volkswagen Group's Bentley officially announced on Friday that Hallmark will leave the company "at his own request and by mutual consent," adding that "he is preparing for new tasks outside the Volkswagen Group with immediate effect."
https://www.baha.com/Aston-Martin-allegedly-to-name-Bentleys-Hallmark-as-new-CEO/news/details/61732942?internal=1
RNS tomorrow then?
We view Aston Martin's financial profile as weak, including negative EBIT and free cash flow (FCF) in recent years as well as high leverage. Nevertheless, we forecast that Aston Martin will be cash-flow neutral within two years, driven by a new sports line-up and lower investment needs, and assume the company will largely deliver its business plan.
https://www.fitchratings.com/research/corporate-finance/fitch-assigns-aston-martin-final-b-idr-outlook-stable-20-03-2024
"22 Giugno 2021" - and therefore note relevant. I need a March 2024 perspective. Afterall, in June 2021 AML shares were more than £7 - ah, those were the good times!
Or this evening (USA still ongoing).
RNS tomorrow morning to confirm to the market?
Thanks both. I see that the FT contains the comment: “A liability, whether of £150mn or of a lower amount, would be a significant outlay for the company that is already struggling with cash”.
Interesting also how the previous robust language from AML about the Nebula case that was included in the last bond offer document (and in the undated and unsourced text from Tony) is now rather toned down. No longer any mention that the Nebula claim is “retaliatory” or that AML is “asserting valid counterclaims”. Is this something to worry about? AML certainly does not have £150mn hidden down the back of the sofa.
Aston Martin ha fatto causa a una sua concessionaria svizzera, chiamata Nebula Project. Secondo l’azienda inglese, il rivenditore, e in particolare sotto le direttive di due membri del suo consiglio di amministrazione, avrebbe trattenuto per sé i depositi cauzionali versati dai clienti che hanno prenotato la tanto attesa hypercar Aston Martin Valkyrie, un’auto da 2,8 milioni di euro.
Il procedimento giudiziario ha ovviamente portato anche allo scioglimento del contratto di concessionaria fra Aston Martin e Nebula Project. Non solo: Aston Martin ha annullato anche il contratto stipulato con un altro rivenditore svizzero, AF Cars, nel cui consiglio di amministrazione vi sono gli stessi due dirigenti finiti sotto la lente di ingrandimento di Aston Martin.
Le concessionarie non hanno ancora risposto alle accuse in modo ufficiale. Aston Martin, invece, sostiene che questo ammanco di soldi potrà gravare sui profitti nell’ordine di 15 milioni di sterline (circa 17,5 milioni di euro). Per questo, dice l’azienda, in futuro si assicurerà di ricevere direttamente tutti i depositi e gli anticipi provenienti dai clienti, senza più appoggiarsi a terzi.
Https://www.ft.com/content/f9ba2842-6a25-4a57-aa1e-817c2c47d34d
In the ‘Final Offering Memorandum’ for the bonds (dated 13 March 2024) AML states:
(page 121) “[…] Nebula has subsequently initiated proceedings against us by way of an arbitration in London, which we believe are without merit. The final hearing in this arbitration has taken place and the Tribunal is expected to render an award later this year.”
“expected to render an award later this year” – sounds quite ominous given that AML is the respondent. Any idea what an award against AML could look like? Would it be material?
"It seems some manufacturers are having second thoughts about the wholesale stampede towards an all electric and battery future." Rightly so, who wants an Aston that sounds like a milkfloat?