The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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http://www.ft.com/cms/s/3/716545c0-9529-11e5-ac15-0f7f7945adba.html#axzz3t3czEbej
if and when required
Costs are being cut, no point holding on to dead wood. Prob worth a top up on the drop today imo. it's a longer play but expecting further contracts along the way. Is the Potash deal still a potential here?
well that should reduce any cash burn to zero from kenya. onwrds and upwards for ethiopia.
to confirm results at GM later today
Clearing the decks for the next phase?
Atlas (AIM, NSE: ADSS) announces that it has taken the decision to place its Kenyan subsidiaries into liquidation by way of a Creditors Voluntary Liquidation. The downturn in the oil and gas industry, market adjustments and the failure of certain key clients to settle debts, together with increasing creditor pressure has led to the decision to close Kenyan operations and focus all of the Company's administrative functions and activities in Ethiopia for the time being. This decision will enable the Company to focus its resources and management on the Company's newly formed industrial division and its joint venture with Orchid Business Group PLC ('Orchid') which is targeting the resources space (in particular potash development and infrastructure projects). For further details on the industrial division please refer to the Company's announcement dated 19 November 2015 and for details on Orchid and the joint venture please refer to the Company's announcement dated 3 November 2015. The closure of the Kenyan subsidiaries, Ardan Logistics Kenya Ltd, Ardan (Medical Services) Ltd and Ardan (Civil Engineering) Ltd, will improve the group's overall cost base. Furthermore, despite the closure of the Kenyan business, the Company will maintain its listing on the GEM segment of the Nairobi Securities Exchange and hopes to maximise value for its Kenyan shareholders through the successful expansion in industrial projects and operations in Ethiopia. The Board believes the opportunity in Ethiopia is highly compelling and offers the Company and its supportive shareholders the best opportunity to build value both in the short and long term. Chief Executive of Atlas, Carl Esprey said, "With our new focus on the widening opportunity in Ethiopia, we have taken steps to place our Kenyan subsidiaries into formal liquidation proceedings. Since the downturn in the oil and gas market, we have found that clients are no longer placing a premium on our high quality services and are demanding terms which are not economically viable. In addition to this, late payment by certain operators and increasing creditor pressure in Kenya necessitate and justify this shift at this time to serve the best interest of the long term development of the business and shareholders. We have been focusing on building a strategy to best allocate our existing assets to build shareholder value and are looking forward to capitalising on opportunities within the newly established industrial division and the JV with Orchid, which we believe will bring more consistent revenue to the business and allow us to best utilise our existing expertise."
As pac stated ADSS never speculate I respect them for that but it does mean the share price reflects what is usually a market based on hype or super hype. The first time they are really positive you would expect a return to its rightful place. well above 1p . and the new venture must be worth another couple of Ps within 5 years. GL
I was expecting more immediate local contracts also. I agree with a the size and speed of a potential move tho. ADSS are not forthcoming with news hence we have heard nothing of a bottling contract that has been in talks for 9 months while their sp died a miserable death. Announcement of that earlier would have arrested the decline. Anyway my point is ADSS don't deal in rumor so we are just likely to see an update saying contracts bagged - whenever that may be. I expect volume after the general meeting on the 1st once people get some more questions asked. Carl has openly said no shares will be issued other than for the bottle project/profitable contracts i.e. not to pay salary/keep lights on. If he goes back on this the company will become non-investable. Big thing now is that they are not bleeding cash anymore - this is stabalised and so they will not need to raise to stay a float. This is the bit I don't think has sunk in. Many forget they still have a fairly big revenue well in excess of $1,000,000 a month. This is a landmark for any AIM company.
i suppose that depends what his average is. Looking at the knownm plans for the bottling plant then a 200% rise inside 18 month is nailed on. However i have a sneaking feeling if and when they get some potash deals away then 200% will be instant, maybe a lot more. (live in hope) Many have taken a loss here but i decdied to wait and im confident i will sell with a big profit inside 4 months. my ave is .82. not averaged downn yet as waiting on a some clarity on a couple of issues.
Some time in 5 minute You never know
I was hoping for that in 5 months.
This management have shown themselves to be worthy and I believe hey will succeed with any venture. I expect a 200% return on my investment here within 5 years.
i recall doch saying he had chatted to CA and that there was institutional interest. lets see if they buy some after digesting the analysis issued today by GMP. It would be good for him to reiterate the podcast info that adss dont need a placing anytime soon and the gm is for approval for fund raising in the future to give headroom for this acquisision, As its clear thats what panicked the market
My thoughts exactly there. All the figures related to the bottling plant. 0.5 was surely bottom?
only had a quick scan of the research notes will look closer tonight. looks like a 1.5p price target is just on the bottling plant or am i miss reading it ? Im hoping the anticipated potsash contracts will double that target once they materialise and maybe one day oil will recover bjut not banling on the latter for a while.
Yes and the 32k.had to buy them separately wouldn't let me buy 100k in 1 trade.
is that yours ?
This is going to move north soon.can't buy more than 75k
Cheers..
Thanks for posting link I could not find it on their site.
Buys creeping through now, I haven't digested the full 19 page document but I like the 1.5p target for a start!
Having scanned through that 19 page pdf it is my opinion that it is very positive. I will be looking to top up as soon as I can release some funds elsewhere; then hold long-term.
The research note referred to in the rns is at http://www.atlassupport.com/documents/GMP_Research_Note_Ethiopia_241115.pdf
Parkdog ........what stopping this to rise ?