Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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An after hours buy too? Looking good, I'm going to stick my neck and say this is the floor, the bottom, the lowest point it will ever beee :)
almost certainly T20 roll overs. Good they have renewed the trade but wont effect the sp.
Massive buys someone is loading up...
Wow two big buys! Tickup should be due after those beauties.
ive just listened to the 14.20 question and response. , justin has just asked him a question which would require an answer that is sensitive info and not yet known to the market. Aspreys pause is a micro second which i think is understandable as he considers a reasoned resposne without letting out sensitive info, I think your assesment is extremely harsh but there again aim ceos have been known to bullship and im far from naive. But the point you make i think isnt relevant.
ive just listened to the 14.20 question and response. , justin has just asked him a question which would require an answer that is sensitive info and not yet known to the market. Aspreys pause is a micro second which i think is understandable as he considers a reasoned resposne without letting out sensitive info, I think your assesment is extremely harsh but there again aim ceos have been known to bullship and im far from naive. But the point you make i think isnt relevant.
It's just the point at 14m 20sec in the interview where he says "I don't think...." as if he has plans to do so but it hasn't been officially accounced yet. A pause and a stutter doesn't fill me with confidence when the BOD don't have a lot of shares of the company they run, he was clearly looking for words he could say rather than what I believe the truth. I could well invest in the company in the future and they may do really well, howeever I suspect a placing is coming within the next three months.
listen to asprey here... http://www.sharepickers.com/atlas-development-and-support-services-ceo-carl-aspey/ He reckons no need for a fund raise "anytime soon" they are seeking approval to do a raise to give headroom if needed for the bottling plant next June. He could be bullshipping but he seemed clear that there was not a placing coming imminently. I suspect and hope a raise is some months away and that it will be after they have signed potash contracts. Far better to raise with ths sp at 2-3p than at .5 as obviously less shares needed to riase the funds and so less dilution.
Listen to the interview fella, finishing the year up $1million ahead of expectations, costs of the business are now covered. Anything new secured puts them back into the black. Share option is there to take advantage of revenue generating contracts, not just to keep the lights on. They have no intention of issuing shares, they just need to be seen as having the flexibility to do so if opportunities come there way, but they will exhaust other avenues first. Should be funded into Q1. Their words not mine. Agree with you on the no. of shares held.
That's all the directors have invested here. With the CEO Carl Esprey holding just 0.06%! Would give a bit more confidence if they had a bigger holding, maybe they would be less likely to dilute shareholders if is also affected them.
Not at break even yet, cash is forecast to fall from $6.1m on 30th June to $3m at the end of the year. With also the talk of investment then I think a big dilution is coming soon, probably best left until after the dilution is announced before investing here. Also not much room left for any delays to the ambition plans they have for the bottling plant. Certainly interesting to see how this goes though.
revs $15m for this year for whats its worth pacman,, that was figure quoted in podcast. Im pretty sure that this company will turn around its just a case of how quickly. much of that depends on how far down the road the "clients" are - ie the potash miners of Ethiopia. i can sit on these until they multibag, clearly at a £2m mcap that will happen once the deals are announced.
Sure there is more in the pipe. Potash rumor not denied and I imagine there were opportunities with Orchid before the JV. They should of come clean on this bottle gig sooner tho, would of been nice to know they were doing something useful. They've done a tremendous job to hit a break even level while maintaining critical infrastructure and ability to act on contracts, and have defied all the haters. Think they are still at $11million revenue on a 2.3mil MC plus the 3mil cash and 28mil assets. Non revenue producers are on multiples of that, 11 million revenue isn't small - same old sentiment driven story. Might be worth picking up more at this level. Sentiment will return if as Ian B has said - we get reassurance, I think we've had it, just takes a while to sink in sometimes.
$3m held in cash and $28m net asset value.no brainer
i think the fear of a placing is holding this back. However the ceos podcast clearly suggest a placing isnt needed anytime soon. They are seeking shareholder permission to raise as and when they need to, clearly they will need to before June next year but any placing could actually be months away yet allowing time for delivery of potash contracts. If teh ceo reassures the market a placingis not imminenet then i can see this flying on any whiff of potash contracts. The bottling diversication alone will make this a £50m cap company. current mcap £2.4m with $3m held in cash and $28m net asset value.
Nice buy !!
over the ask
http://www.sharepickers.com/doc-holiday-talks-about-new-and-adss/
Nice summary Ian.B. I think Carl came across as confident and ambitious. Ethiopia is a growth market which should provide plenty of opportunities and this acquisition could be the first of several projects. The JV is also bidding on multiple potash projects and it should have an excellent chance of winning new contracts as Orchid is a major player in the Ethiopian market.. I also expect there will be plenty of newsflow to build interest in what could be an exciting growth story.
Thanks Ian. Spot on
Just listened twice and made a few notes. - Had to diversify away from oil and gas in Kenya due to the fall in oil prices. (good management not sitting still) - Move into Ethiopia, Supporting the mining in that area of Potash. In discussion with all the major potash companies in the country and well placed to win work in Potash mining @ support services. announcement of contracts is in the hands of their clients ie the Potash Miners - Jv - Orchid - already working together for a year, large construction company to whom ADSS wil provide the support services. Contracts won by Orchid, Adss get the support side. Industrial division - (todays rns) This has been in discussion for 9 months due diligence done. 4 Major brewing companies in Ethiopia including Heineken who have 3 seperate breweries in the country. Adss held talks with all 4. Massive demand for glass bottles by these producers of beer. currently imported. Brewers saying "we need glass bottles" (identified a gap in the market) Identified off-take partners. Revenues from this in the region $31mil per annum , talked of ebitda but i didnt note down. value of this industrial div business $104m (note current mcap adss £2m) Requires finance $40m - $35m bank loan by June 16 repayable +8% - remainder from industrial partners and cash in company. Placement of shares - seeking approval for flexibility to issue shares at GM. To give headroom for approval of debt financing next june. Made it clear they have sufficient cash $3m by eoy and cash burn by oil and gas business now down to nothing or very little. "Not forced into a raise anytime soon" were his words verbatim - gave the impression whilst there will be a raise at some point before June its is not imminent. - ?? seems a Misconception it is coming in December ?? more likely to come when sp has recovered after announcement of more deals?? My scribbled notes and thoughts for what they are worth. Happy to be corrected on points made but gives a flavour.
Probably short term traders selling out once they realised there wasn't going to be a huge spike today. Olderandwiser - as well as the big Development Bank loan there is a further $7 million to finance from "other debt providers, industrial partners and equity". He said on the interview there was no hurry to raise fresh equity finance as there will be $3 million in the bank at the year end and the company is not burning cash.. There will clearly be an equity raise at some stage but seeing as the vast majority of the project will be debt financed, I don't think this should be a concern to shareholders. The leverage could lead to very significant value being created.
I don't get the massive range and spread today. I thought the news was good and the interview came over well. I don't know why the share didn't have a good day today.
Not had chance to listen yet will check it out tonight