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I trust you are keeping well and continuing your good work.
Tyche would have saved himself a lot of money if he'd only listened. Oh well...;-)
My SIPP valuation gave me £30,000 for my 250,000 shares (my total investment over 3 years was c. 65k) so I looked into it.
JPJenkins put me straight, they said no, not 0.12 p per share (as on their website) but 0.0012 so only worth £300.
If 2.2billion shares are out there (Solus 41.5%, Great Elm 9.06%) that values the total shareholding in the company at just around the £300,000 mark. 220000000 x 0.0012 = 300k.
I'm moving my SIPP from Curtis Banks to ii. Sadly have to sell the shareholding to do so. £300. Lol.
Here's my trading history:
ACTION DATE SHARES HOLDING SP COST
BUY 22/10/18 50000 250000 4.8 2408.49 64637
SELL 14/08/18 -100000 200000 5.61 -5601.01 62228.51
BUY 07/06/18 20000 300000 5.35 1077.99 67829.52
BUY 07/06/18 30000 280000 5.35 1612.49 66751.53
BUY 11/05/18 30000 250000 6.39 1925.63 65139.04
SELL 11/04/18 -20000 220000 5.05 -1001.01 63213.41
SELL 11/04/18 -20000 240000 5.195 -1030.01 64214.42
SELL 11/04/18 -20000 260000 5.22 -1035.01 65244.43
SELL 11/04/18 -20000 280000 5.42 -1075.01 66279.44
SELL 10/04/18 -40000 300000 5.65 -2251.01 67354.45
BUY 06/04/18 40000 340000 11.15 4468.99 69605.46
BUY 23/02/18 50000 300000 10.82 5418.99 65136.47
BUY 16/02/18 40000 250000 9.04 3626.99 59717.48
BUY 01/02/18 10000 210000 9.52 960.93 56090.49
SELL 19/01/18 -60000 200000 8.88 -5319.01 55129.56
BUY 12/01/18 10000 260000 8.54 863.39 60448.57
BUY 10/01/18 40000 250000 8 3208.99 59585.18
BUY 20/10/17 8123 210000 8.28 681.41 56376.19
BUY 20/10/17 51877 201877 9.4 4885.43 55694.78
BUY 16/06/17 40000 150000 10.88 4350.24 50809.35
BUY 30/12/16 10000 110000 21.74 2185 46459.11
BUY 20/12/16 30000 100000 25.82 7757.25 44274.11
BUY 25/10/16 10000 70000 26.99 2710.25 36516.86
BUY 05/08/16 10000 60000 47.96 4808.75 33806.61
BUY 05/08/16 25000 50000 48 12011.23 28997.86
BUY 27/06/16 5000 25000 59.45 2983.75 16986.63
BUY 24/06/16 13044 20000 61.75 8066.35 14002.88
BUY 24/05/16 6956 6956 88 6132.53 5936.53
SELL 16/10/15 -2000 0 231.675 -4622.25 -196
BUY 18/09/15 2000 2000 220.75 4426.25 4426.25
Yes Briangal27 I agree it's wise to right off the investment, they need to sell all of Hylas 3 in one go then concentrate on the backhaul market to survive which I hope they do.
Tyche I have written off my investment here but hope they survive in some shape or form. The new team appear sound but even after the last debt for equity they have had too much of a hole to dig out of. All the best.
Bringal27, Yes looks like they did it again! I have friends who work there they say all is good. Can only assume misrable matt is still spouting some kind of doom, whan an absolute weapon, the only poster i've ever put in the bin.
Yep - just a matter of time before the bondholders call time on this, bring in the receivers, and try and sell the assets for the highest price to get some of their principal back.
Looks like Avanti have staved off bankruptcy (again!) and have got an extra $30m debt funding from 2 junior bond holders as per Advanced Television website. They were about to default on the SSF notes
No great reading - revenue growth of 8% is still not enough to clear losses (ebitda loss of $30m, with over $40m of debt servicing costs on top) which means the net debt pile keeps growing, and interest costs get larger. I think you need revenue growth of 30% or more before the viscous cycle gets broken, but as there satellites and technology gets older, this becomes more and more unlikely. I'm afraid none of the old minority shareholders are getting anything back from this.
my thought exactly regarding 5g, going to be plenty of room for many on that and maybe even avanti. not holding my breath though, written this one off years ago. maybe one day in the future my shares might even have enough value to cover the dealing costs. but, hey, u cant win them all
Well Avanti is still very much alive and kicking, fundamentally the business is secure and moving forward, (albeit very slowly) with a massive coverage area such as EMEA the potential is still there, In a crowded satellite market Avanti just need to fill their satellites to something close to capacity which will bring in some strong revenues, making inroads with the American military, 5g network, Nano SAT H, etc. all bodes well for future revenue streams..
100,000 here. As some stage I expected a consolidation perhaps 1000:1 even. The small shareholders like me are actually irrelevant to the company, perhaps a small irritation. Over time Jenkins will be moping up, the big holders adding to theirs. The ex bondholders still expect to get a return hence they saved the company. At some stage it will either go bust or be sold - we might get a tiny amount per share perhaps 10p? This is some way off and the company must be profitable first, that actually looks less likely each year to me.
I am just siting on my hands on this one, I consider this be be a total loss, for that's what it is in reality, but I hang on in part to be a very small bug in the big ocean. Might use any capital losses for CGT purposes in two or three years time, by then the future will be clear for our company.
As you say a lesson learned, well actually several lessons !!!!!!
I am not going to give JP Jenkins the pleasure of making a big return on my holding (relative accepted).
Lost 60k. Chased losses all the way down. Have I learnt a lesson. No. I did the same with OXB and that worked. Got a reply from investors@Avanti when I enquired about my 250,000 holding. Reply is:
Avanti has approximately 2.2 billion shares currently in issue. In order to assess value you should liaise with JP Jenkins at www.jpjenkins.com. JP Jenkins operate a matched bargain facility that has been open since the de-listing.
Anybody else in the same boat?
Same as loads of other small shareholders who believed in the company's purpose, I hope that we do get some sort of return at some point in the future. Keeping fingers crossed.
'what happens to our shares?'
Well, nothing really. The share capital of the company doesn't change when it goes private; it just means they cannot be publicly traded on an open market (like AIM).
A lot of shares were issued in a debt-for-equity swap a few years ago, so I'm hoping those prior lenders may be prepared to wait a couple of years then (if cash flows in from sales) maybe get paid a dividend (along with little me).
I continue to hold too in hope that we see recovery as the potential of the company seemed to be great a few years back and I liked where they were potentially heading. I to hope that they return to stock market but if not and they continue functioning the way they are now albeit managing their debt etc what happens to our shares?
The price fail low in the final minutes, sub 1p. The months before delisting it was hovering around 9p.. most felt split between whether it was boom or bust. My personal sentiment was the company was shadowed/ anchored by its enormous interest payments. By the time these were dealt with the market had lost confidence and the share price was having a detrimental effect to securing new business (the connotation was Avanti was really unstable, cusp of being bust at any moment). This obviously had a real negative impact for securing any long term contracts. I wished there was another other than delisting but ultimately I think it was one of the few ways of regrowing the business. Be nice if I could shed my 75,000 I still have. I really hope they return to the stock market, but like most who still hold - I’ve come to accept this is lost money...
Hi Guys, What was the SP when they de-listed.
The accounts can now be downloaded from the Companies House website. Another big loss but some murmurs of hope being shown. The past is gone so let's see what redemption the future brings us. I wrote off my investment but continued to hold the shares, and I can't believe that all that tangible investment by the company won't be able to bring some sort of benefit to shareholders.
The company has filed its 2019 accounts at Companies House. However, we have to wait 5 days before they are available on-line. Once available, the accounts should tell us how they are doing now.
Hi Dan. Here is some some news.
Full article here https://spacenews.com/after-downsizing-avanti-focusing-on-fleet-fill-rate-mulls-small-geo-satellites/
WASHINGTON — British satellite operator Avanti has no plans to relist on public markets anytime soon, focusing instead on streamlining costs while finding customers for its underutilized fleet of three satellites and two payloads.
Avanti removed itself from the London Stock Exchange in September 2019, saying the regulatory costs outweighed the benefits of being a publicly traded company.
Avanti was beginning to execute a new business strategy that focused on selling satellite capacity to other operators and the U.S. government instead of consumer broadband customers, a shift that was beginning to turn around five years of declining revenues.
In an interview, Avanti CEO Kyle Whitehill said that the company has cut operating costs by shedding 25% of staff since delisting, reducing the company to 240 employees.
“We still have a great business with significantly less people,” Whitehill told SpaceNews. “We had a lot of people deployed against hoping we could generate revenue in some areas, rather than putting our people into where we are generating revenue.”
Whitehill said the lower headcount, coupled with renegotiated equipment contracts, enabled the company to lower capacity prices and compete more effectively across its primary markets of Africa, Europe and the Middle East.
Avanti is now focused on increasing the fill rate on its Ka-band fleet of five satellites from 48% to around 70-80%, Whitehill said, which would be comparable to the fill rates of leading fleet operators Intelsat, SES, and Eutelsat.
Avanti’s fleet-wide fill rate has lagged behind industry norms, despite its oldest offerings being fully booked. Over the past year, Avanti increased its fleet utilization rate by courting mobile network operators in South Africa, Sudan, Nigeria, Ghana and Kenya that use the company’s satellites to backhaul cellular data in lieu of fiber transport, Whitehill said. Avanti also increased its focus on selling to the U.S. military, he said, working with Florida-based Comsat to make inroads into the defense sector.
Avanti is leasing all the capacity on its Hylas-1 satellite and its Hylas-2B payload to customers Whitehill declined to name.
The company is refocusing Hylas-2 on the Middle East, and using its largest satellite, Hylas-4, for connectivity services across Africa, he said.
Avanti’s newest capacity comes from Hylas-3, a hosted payload with eight steerable beams that launched in mid-2019 as part of Airbus and the European Space Agency’s EDRS-C satellite. Whitehill said the beams are pointed over the Middle East, but that Avanti has yet to start service with them because the coronavirus pandemic has prevented the company from traveling to the region.
Whitehill declined to state Avanti’s total revenue, but said capacity sales doubled from 2018 to 2019,
Well, our company is still alive and kicking. With the much reduced costs, even the smallest good news and revenue will have a very positive effect.
I am staying for the ride upwards. At the time of the delisting I did expect a big consolidation to remove the small fractional shareholders and then some kind of corporate action eventually leading to a re-listing or new company. So far nothing. The bond holders who stumped up did so because of the expectation of a return. Share trades have increased it seems, I expect the accounts to have some good news, not long to wait now. You could check companies house site if you have registered?
I am with II and this morning they sent me a notification for the upcoming AGM scheduled for 28 September.
There are the usual AGM resolutions including BDO being approved as auditors.
As a Avanti shareholder, I am being asked to approve the 31 December 2019 accounts which I have not yet seen.
There may be a possibility that the Phoenix rises from the ashes. I suppose that it can’t really get any worse now for loyal shareholders that supported them.