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Yes, a satisfactory outcome to the tax cases would undoubtedly send this up even more. Almost at break even now!
GLALTH
Or is 200p to less based on the profit increase
Or is 200p to less based on the profit increase
200p plus anyone??
All them huge buys yesterday must have known of this
This should see a new higher 52 week high price.
Fantastic growth. Thats what we like to hear.
Yet another profit upgrade this morning. You have to wonder where the share price would be without the tax case impediment. No doubt the tax man will delight in all the cash Augean is generating hoping to get their hands on it!!!
This is from news last September from the Chair Jim Meredith. I dont think there has been an update since then but Shatter might know
In July, the company said it was continuing discussions with the UK taxman to resolve a matter arising from the Landfill tax, after it was issued with GBP37.6 million worth of tax assessments by HMRC.
The company said it still believes it has paid landfill tax correctly and continues to defend its position that HMRC has no claim.
"We expect to make progress with HMRC in the second half of 2018 and will update the market accordingly," Meredith added.
Terrific progress the last 12 months. Not invested, keeping a close eye on so for any possible entry point...
yes indeed. SP beginning to reflect it as well. Get the HMRC dispute out of the way and we could be heading back to previous values - hope so anyway as I am still down but more confident now.
Great trading update: https://www.investegate.co.uk/augean-plc--aug-/rns/trading-update/201906210700049627C/
145
We might see some SP weakness as some holders take profits but all the news in the pipeline is positive so you are probably correct re not seeing £1 again. The HMRC assessments have been issued so the worst case scenario is already known and reflected in the share price. If they do successfully get the assessments overturned then you will see an immediate SP jump. Trading figures are ahead of expectations and likely to continue with further cash building. Good luck with your holding. If you don't mind me asking, what is your b/e price? Colt45
I appreciate your posts and don't consider them ramping. This is a grown up board compared to some where the ramping and deramping swamp any meaningful discussion. There are a couple of others that are worth being on such as OXB and FRES but I despair at the abuse and personal pettiness of a lot - partiicularly it would seem the small biotech and o&g ones.
Dont take it personally but I hope you dont have a chance to see £1 again!
Correct KK. HMRC are extremely unpredictable and usually issue an assessment to cover the worst case scenario and then leave you to prove otherwise. Aug has done an extremely good job to date and are confident of a favourable outcome or least a manageable settlement. I do not hold at present and probably shouldn’t post too many positive comments until I get back on board. I really would like to get some in around £1 but probably missed the boat.
Colt
This is not meant as a dig in any way but a genuine enquiry as you seem more on the inside of this business than I certainly am and I find your comments very helpful - indeed this board is much more civilised than some I am on - but in April you suggested we should stand back from this share and now you are suggesting we should hold. What has changed in the meantime? Is it the liklihood of a better settlement than anticipated with HMRC or are there other factors at play?
be great if you felt you could respond.
kk
HMRC are not dropping their claim. They have already issued two assessments (at greatly reduced levels than the market expected) but these are being challenged through the tribunal system. HMRc have agreed that they do not need to be paid until a tribunal decision has been reached and the fact that the business has not raised a provision would indicate to me that they are confident that their lawyers / environmental consultants will get the assessments overturned. If Augean produce detailed reports detailing how they treated the hazardous waste so that it qualified for the lower rate of tax then they will win the case - this is how the process works. Meanwhile quietly in the background JM has been slashing debt by selling of non performing assets, cutting huge amounts of overheads and winning some very lucrative long term contracts to secure future earnings. He has made well over £1m profit on his own shareholding - I love to see directors with skin in the game. Mark my words, this business is being lined up for a sale at a price significantly higher that today's share price. I work in the industry and know this game inside out, including many fights with HMRC over landfill tax.
To see this progress. I've held this share also since around 2007!! I remember buying in after a newspaper tip at 265p. !!!! Haven't added to this stock. But obviously there seems to be good times ahead.
I would doubt HMRC are dropping their claim. Perhaps an RNS tomorrow as there were two large buys today. The AGM is on the 20th at the HQ of the largest shareholder, so that might be a useful event to go along to
Colt45
Many thanks for the insight. I have been in this since 2007 and of course have reinvested any dividends so have lived through the downsides but always believed that what they did was important and needed so held; and will continue to do so.
Hello Kernowken
I am patiently waiting for a sp dip to get back into this stock but it just is not coming. I really cannot say too much or my cover will be blown but sit tight if you hold this stock. I will be back in if it dips below £1 again but I fear I have missed the boat. Colt45
Anyone any idea what is going on here?
I can't find anything to support this increase.
Not complaining as I am still under water on this one but getting closer to the surface and getting more hopeful but cant see any signs why
Has to be to do with the HMRC dispute.
Many will be taking big profits knowing that the share price can dive on a negative outcome
Any idea why the big drop?
I cant seeanything but suspect it must be to do with the dispute with HMRC?
Anyone closer to this than I am have any thoughts?