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Started: alan80, 10 Oct 2021 00:40
Last post: alan80, 10 Oct 2021 12:07
If they had bought the stake for a third party then the price would have jumped late friday. So are they buying on behalf of Eleia to ensure there are enough votes to get the takeover through? Strange if they are, because I would have thought it should be straightforward.
Am I missing something here because why would Tavira Securities take a 3% stake?
Strange purchase at 9.48 this morning. 300 shares at £3.75.
Slightly disappointed after this afternoons price action. Top price paid this afternoon was identical to the winning bid….
Winning bid £3.72
If we get lucky it will. Nothing yet from the Takeover Panel website
Some big buys at that level, makes you think that some people more in the know than us are confident it’s going higher than £3.70
Started: Waterloo1, 24 Jun 2021 13:55
Last post: Waterloo1, 24 Jun 2021 13:55
In favour, landfill tax exempt..
Started: alan80, 24 Jun 2021 13:55
Last post: alan80, 24 Jun 2021 13:55
Decision this morning in favour of Augean on an interpretation point in their tax case. Whilst not a decision on the overall merits of the case, this is an important step forward. HMRC have 8 weeks to appeal if they wish.
Started: Waterloo1, 16 Jun 2021 19:13
Last post: alan80, 23 Jun 2021 19:39
It's difficult to say. I'd be happy with £3. Christopher Mills sold a million and a half at £2.30 four months ago. That can be interpreted in different ways though. Those buying at £2.80 today probably know something, and you would imagine they are looking at make a small margin gain. I can't help wonder about other waste operators who might see the landfill capacity Augean have as something to go for.
Historically this sp hasn't gone above £3. Is that the best outcome do you think?
Move up this morning seems to suggest that an offer will be made.
If the opening this morning is anything to go by then there is no deal at the moment. MS have to say one way or the other by 5 on thursday
It was always going to come down to whether Christopher Mills accepted what was proposed. If yes, then it's a done deal. If no, then there is little point in a bidder making an offer without agreement. We will find out this week.
Started: alan80, 27 May 2021 10:29
Last post: PlanetsAligned, 27 May 2021 11:50
Surely any potential suitor would wait for the uncertainty around the tax liability to be resolved. It’s difficult to value the business as long as this matter is still outstanding. Perhaps they know something?
Amazed no one has commented on the news of a potential offer. Even at the current price just below £3 it looks low, given the impact a win the tax case would have.
Started: hothead963, 18 Jan 2021 12:04
Last post: hothead963, 18 Jan 2021 12:04
Started: Scoobydoo321, 18 Jan 2021 09:47
Last post: Scoobydoo321, 18 Jan 2021 09:47
Great results given Covid.
Also, huge upside still if they win vs HMRC. High probably I reckon given that HMRC already lost 1st payout of 1.6mn.
North Sea biz should return given expected economic growth in 2021.
Started: PlanetsAligned, 22 Sep 2020 23:54
Last post: hothead963, 6 Jan 2021 14:21
Worst acquisition in the industry. MD of Augean North Sea has had the bullet from the London suits. They can’t run the equipment and the market is in the toilet. Hilariously bad buy. That site will lose £1m in 2021. I expect it will be sold before then.
Why didn’t Augean RNS this to the market in August??
Acquired at a significant discount for £1.4m and is expected to immediately enhance earnings! Never miss an opportunity to promote the success of the company, especially when it is earnings accretive.
Started: PlanetsAligned, 22 Sep 2020 23:48
Last post: PlanetsAligned, 22 Sep 2020 23:48
The guidance at the end of 2019 was that the company would not be declaring a dividend until they had eliminated their net debt position. With net debt of £3.3m as at 30 Jun 20 they would now be in a position by September where there is no longer a net debt position and could have opted to reintroduce the dividend (even a token one). The new guidance is that a dividend will not be declared while the group appeals the HMRC assessments. This is disappointing and I think the market’s reaction to the H1 results partly reflected that. Given the board expects to meet full year market expectations and Q3 so far has been encouraging I think they should have declared a dividend to add some support to the share price.
Last post: kernowlad, 21 Sep 2020 18:23
The uncertainty over the tax position doesn't help either. It would be a great boost if they win the appeal and get £40m back
Disappointing but affected by Covid big time. I think basically a sound business currently being held back
it was pumped up a bit last week but this is a big fall on the Half year report which I didn't think was too bad considering and certainly didn't deserve a 15% fall. Probably enhanced by the general carnage on the markets today but disappointing nonetheless.
Last post: kernowlad, 4 Aug 2020 15:00
Half yearly not due until 21 Sep
Looks a bit suspicious. Maybe there’s some good interims on the way
Something must have leaked for this to happen on no news or rns.
I wonder if they have reached agreement with HMRC? That would be one big obstacle out of the way especially if it is favourable.
Started: GuitarProctor, 29 Jan 2020 21:11
Last post: alan80, 22 May 2020 09:55
One of the update issues might be the state of the planning application that would extend the amount and lifespan of an existing site. From what I saw some time back they really have a considerable percentage of existing land disposal capacity in their category in the UK.
I was wrong results came out in february, but they are one of the few companies not to have made any COVID announcement. Last year they gave a trading update on 1st May
AGM June 15 so before then I expect
Results must be due any time now - so pre-results buying?
and similarly why the steep rises. I understand the tax claim but this is a roller coaster in what should be a fairly staid company.
Not complaining about it going up and wondering whether to top-slice or ride it out.
Anyone with any thoughts?
Last post: fluffyjoe, 29 Jan 2020 11:07
Hi ..any specific reason for the drop ?
Started: mick-b, 1 Jan 2020 14:58
Last post: kernowlad, 3 Jan 2020 17:09
Yes indeed but outdated as it has since paid the tax in full (circa £45m) to stop the interest racking up.
The interesting bit in that regard is
? The business has taken specialist legal and tax advice over several years to ensure actions are consistent with the law and official guidance at the time. Based on this advice, we remain confident in our position
An extremely detailed MUST read ......
https://www.augeanplc.com/wp-content/uploads/Augean-Investor-Presentation-November-2019.pdf
Started: Tobythedog, 17 Dec 2019 08:42
Last post: Tobythedog, 17 Dec 2019 08:42
Correction now doubled in less than three months. Wow wow wow. What's going on?
Started: Tobythedog, 17 Dec 2019 08:39
Last post: Tobythedog, 17 Dec 2019 08:39
It's going gangbusters again this morning. Almost doubled my money in three months. What's going on?
Anyone any idea why there is such a strong interest in AUG at the moment? Is there a take over bid looming in the near future.
Cleaning the stables which is appropriate for Augean!
Presumably the interest being paid to the bank is less than that to HMRC or the difference so small as to have little net effect.
Where did you pick up the 60% probability as that seems less than the bullish previous announcements?
Market likes it however as a nice rise this morning
GLALTH
Good update for the company. Tax paid in full stopping additional interest accrued, albeit, with the help of a interest charging loan, but if HMRC do charge AUG, then it is all paid up.
So, worst case scenario, tax paid and best case a £40m refund. Personally I think tax will be paid in the end with a small reduction.
The group predicts its probability of HMRC case success at 60%, so a 40% chance of loosing. Court case is due late in 2020.
Started: Colt45, 16 Oct 2019 12:08
Last post: kernowlad, 9 Dec 2019 11:22
Morning Colt
Your reading of events is persuasive and perhaps I am jaded by seeing too much happen in sp manipulation on other shares especially on AIM. A favourable result with HMRC would prove interesting and there is still a chance as the company is certainly fighting it.
I hold and hope as a LTH
My view is that the share price rise is just following the improvement in the company trading performance which has been excellent to say the least. You have to take into consideration the serious position that the company found itself in after HMRC signalled their intent to issue landfill tax assessments. The share price tanked and the then CEO paid the price. Jim Meredith is a very experienced waste guy who stepped into the CEO to take on the challenge of saving the business from failure. Both he and Fryer were given very good incentives to turn the business around for the benefit of all shareholders. They have done a sterling job and in my opinion deserve the rewards.
Do I think the share price will see a significant retreat - no. I really like this business with its sticky customer base and quality management team. Colt45
If you were a cynic you could now see the reason for the rise after the LTIP RNS.Wonder if they will have to give it back if the sp now falls?
I am assuming this is just profit taking after the considerable rise as I can't see any other justification - just as I couldn't see an immediate reason for the rise.
Colt, many thanks. I was assuming interest in Augean as a takeover target was perhaps driving this but your analysis is a fascinating one. The HMRC prospective tax penalty must be, as you say, built in to some extent as it hardly a secret. Imagine the sp if Augean wins that. Hold for me at the moment I think based on all the above - my decision.
Last post: kernowlad, 18 Oct 2019 16:21
That sounds like good news and maybe will keep the upward momentum going.
Started: alan80, 16 Oct 2019 08:56
Last post: kernowlad, 16 Oct 2019 11:21
Yes, a satisfactory outcome to the tax cases would undoubtedly send this up even more. Almost at break even now!
GLALTH
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!!!
Started: S4KSecurity, 16 Oct 2019 09:17
Last post: S4KSecurity, 16 Oct 2019 09:17
Or is 200p to less based on the profit increase
Started: S4KSecurity, 16 Oct 2019 09:16
Last post: S4KSecurity, 16 Oct 2019 09:16
Or is 200p to less based on the profit increase
Started: S4KSecurity, 16 Oct 2019 09:15
Last post: S4KSecurity, 16 Oct 2019 09:15
200p plus anyone??
Started: S4KSecurity, 16 Oct 2019 09:05
Last post: S4KSecurity, 16 Oct 2019 09:05
All them huge buys yesterday must have known of this