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C26 You are so busy, you forgot totally to answer my question.?
And Falcon, what do you think about the court case being lost and AML losing £150m?
Also the cash injection into the company? Do you think you can dilute shareholders 40% to raise £200m without the SP dropping 40%?
If so, let us know how.
Thanks.
Falcon, what about this?
https://fknol.com/uk/market-cap-ftse-350-index-constituents.php?go=b300
AML are currently sitting in 347th (make that 350th today) spot.
Any firther slide in sp will mean demotion from the FTSE 350 into the FTSE allshare, and some serious selling from funds as a result of this demotion.
catching up on the RNS issue regarding funding. I bought a failing business and turned it around, so I can understand the need to leverage additional funding opportunities that may come along to mitigate risks and reduce debt. I seriously doubt he would give up such a large stake in aml and dilute for 200m at the current mc...that would be very foolish...and he didn't become a billionaire doing foolish things. Seems he would want to treat the new model as a separate venture and structure the deal around the size of gains achieved from bringing that model to market earlier, and then use part of the investment to reduce debt. I'm sure they are going to run financial models to help ensure that the deal is a win-win.
Whatever aml can do to become solid with updated models and control debt...even if it causes minor dilution at a future higher price, it could ultimately be a net benefit to the sp. Once they are cash flow positive (not actually profitable) and their sales are up with updated models and the ftse recovers (2023?), I think the sp will pop. ...the optics were bad though...I suppose they had no choice after the news broke, but they could have provided a little more detail in the RNS to better demonstrate that this wasn't for short term cash flow needs...and a little more on how the money would be used. The larger invesco investment certainly helped to show support in the long term plan.
It’s true that he stated in February that AML didn’t need more money but in fairness there had been a war and a dramatic spike in inflation since which has exacerbated the situation. This is hardly unique to AML lots of companies are having similar liquidity issues. I’m not sure stroll can be blamed for reacting acting to a worsening economic situation he d be mad not to.
Stroll on replacing Moers: "I have no idea where that comes from. Tobias is doing a great job. He's staying here. He's the perfect partner for me.”
Stroll on funding in Feb : “Let me be crystal clear, black and white: we do not need money."
You CANNOT trust him and the market does not.
£200m is a 40% dilution. If you think that is positive then you are a certified nutter.
and we all know why they need funding.
Obviously the court cae against Nebula aint looking good.
Having to pay royalties on every single Valkyrie, Valhalla and Vanquish means the end.
£400m cash left.
Cash burn of £200m this year at least,
A court case which they could lose £150m +
The need to design new cars for 2023 which cost around £200m each.
The interest costs are £195m per year
The need to pay over a hundred million to Merc for tech agreement in early 2023.
Q1 results…..
Total Liabilities are now £2.34 bil., up £236 mil.
Equity down £210 mil. to £554 mil
Cash has dropped by £172 mil. to £404 mil
Debt is up £234m From £723m to 957m
Market cap is £833M, Net debt is 957M
Sports/GT car sales are half what they were in 2019 (pre-pandemic)
DBX sales down 44% from Q1 2021.
Americas sales down 16%
APAC sales down 26% (Ferrari sales were UP in APAC, so no excuses)
The loss before tax was £113m (Q1 2021: £42m)
Wholesales down 14%.
Cash: £404, but £331m of that is customer deposits. Dangerous if people start asking for deposits back as Valkyrie STILL doesn’t work.
Interest expenses up from £171m to £195m per annum
D&A £315-330m.
Look up Aston Martin’s Corporate Social Responsibilty page and…. apparently it no longer exists: https://www.astonmartinlagonda.com/responsibility
I guess they’re preparing for the Saudi deal…
Losses of 800m in 2 years.
This will not change, so 200m doesn't even touch the sides.
Good morning Carpy and to all actual holders.
We were told twice “fully funded”. So to here that this is happening is a pill I didn’t want to swallow.
However, what we haven’t been told is what the money will be used for. The statement says to accelerate their plan.
So I await for next RNS.
I have to agree with Daviddavid. Unfortunately, my interpretation of the last paragraph of the RNS, is that they are going to fundraise. If this is the case, I don't think it is the fault of AML, but just a run of circumstances working against them. The repeated surges of covid, followed by war in Ukraine, sky high inflation, deteriorating exchange rates and inevitable recession. Just a succession of bad luck scenarios. Only my opinion of course and I hope I'm wrong. Time will tell.
am very heavily invested and I do not intend to sell but the rns for me did not suit me because it does not deny the fundraising, while laurence strool promised us that there would not be any and that aml had enough cash until 2025