We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Am I right in suggesting that come the end of April we will know one way or another whether AVN is going into administration and shareholders left with nothing? What actually happens to the shares you hold - are they just wiped from your portfolio?
Good questions Cassius, but for a punt to work, you just need the open issue to be filled I'll be long gone before we know whether revenue targets have been met! Price just fell below 5p.....
Ha ha - WO, chair of the brain trust on this Board, who believe comparing stock prices is sensible, is now telling us that a share issue, which if not successful leads to insolvency, is common place and was 'bl***y bvious. Funnily enough, he never mentioned this before, and a 60% fall in the share price tells you that no-one else did either. Come on WO/GCC, keep posting, you're keeping me very entertained!!
La La La La Laaaaaaaaa Whats that I hear? Is it a fat lady ?
Are you really Matt ? What about these 38.5 million shares being offered at 11.2 p do you think the offers will be fully subscribed ? Will they raise the other $50 million ?Will they secure the $40 million revenue ?
Exactly Scotty. Why copy and paste from a January RNS when we have new news from an April RNS which has dramatically changed what the market understands about the Company's position.. What an astonishing moron GCC is. Stock now touching 5p. Worth a punt???? I'm so tempted..;-)
Where does the January RNS state:- Furthermore, if the Restructuring completes but the Company is unable to raise Additional Funds of at least US$50 million and secure US$40 million infrequently recurring revenue in pipeline by 30 June 2018 then based on the projected cash flows of the Group, the Company will, within the 3 months following 30 June 2018, be highly likely to be unable to pay its creditors, as and when they fall due for payment. In the event that the Company is unable to meet such obligations as a result of the failure of the Restructuring to complete or the failure to raise sufficient Additional Funds, the Directors would likely seek to place the Company into some form of insolvency proceeding, or a creditor may take action to enforce or initiate an insolvency proceeding. Any such proceeding would be likely to result in little or no value for Shareholders. I like your optimism and hope your right... but disagree the January RNS states the above two paragraphs and definitely it doesn't mention needing 50m by June 2018 or it cant pay its obligations.
Excellent talk-down work by the emerging trolls ! Yet another top up opportunity ! Just in case some are hesitating to buy, this is an extract from the January RNS, so we have to ask again...what's new? It was all spelt out a couple of months ago and AVN are merely delivering on that plan. OF COURSE the bond holders will convert to share-holders and of course they'll support us as necessary. Who cares if it sounds like blackmail. Extract from the January RNS....... Update on Outlook The Company has been advised by Orbital ATK Inc. ("Orbital"), the manufacturer of HYLAS 4, to expect delivery of HYLAS 4 in early February 2018. Arianespace has confirmed a launch date for HYLAS 4 of March 16, 2018. The Company expects services to commence in July 2018. As at 30 June 2017, the Company had incurred approximately $237.4 million and expects to incur an additional $121.8 million in connection with the construction, launch and insurance of HYLAS 4. HYLAS 3 continues to experience delays and the European Space Agency has now advised Avanti not to expect a launch until the first three months of 2019. The Company is currently exploring the best options for the exploitation of HYLAS 3. As at 30 June 2017, the Company had incurred approximately $49.5 million and expects to incur an additional $37.5 million in connection with the construction and launch of HYLAS 3. The directors forecast that revenue for the current financial year will not be less than $50 million. In addition, there is a large infrequently recurring transaction in the pipeline that, if it closes, would add a further $40 million to Group revenue, with $18 million of associated costs, in the current year. With effect from the end of the current financial year, the Company expects substantial growth in revenue driven off the introduction of HYLAS 4 to the fleet opening up new markets in sub-Saharan Africa. Excluding the costs associated with the potential large transaction referred to above, underlying costs remain in line with prior guidance at approximately $75 million per annum. In the following two years, underlying costs are expected to grow at c. 6% per annum subject to exchange rates and the mix of bandwidth revenues compared to kit and project revenues.
coming it now plus what looks like a 40k buy yesterday evening (could be a sell). Either someone with a deep pocket for a punt or someone in the know. Hopefully the latter
Its all very complicated now and really only those with the legal knowledge and deep experience can foresee whats going on. We as holders are being asked to sign off and approve that the takeover can be done without any offer to shareholders. Is this because there is simply no value anyway and therefore the only chance of survival is this method for the debt for equity swap. Then you ask yourself if the swap completes and somehow they get another 90m will the new owners de-list leaving the shareholders with nothing anyway. There is value in the company because they have paying customers and infrastructure but the debt is crippling so will there be some kind of break up and all the good bits get bought by someone and again the shareholders get screwed. Assuming the current bondholders have first dibs on insolvency why would they swap for equity and basically become the same as us with everything to lose. So is it a foregone conclusion that it will go bust or has that element of the swap already been signed so they cant back out therefore leaving avanti in a strong tactical position to ask for more cash or say good by to any chance of getting money back. Lots of twists and turns here and I 100% agree that the requirement for more money required as part of the restructure is new news and really dishonest not to have been disclosed before the hylas 4 launch.
You have to question the legality of this latest move by Avanti. What did they know, when did they know it and how was the date of dissemination arrived at? I thought that the days sneaky opportunism had gone with Williams, but apparently not so. This company stinks, it has shamelessly milked investors and bondholders, indulging in financial machinations and chicanery to the exclusion of actually getting salesmen out there generating profitable business. If what they have done is not illegal, it is certainly immoral, but with gutless and toothless regulation do not expect any inquiry let alone action. P.I's ripped off yet again.
Yes William i do get that feeling we may have been shafted, as we thought with the restructuring there was a brighter outlook. But would AVN really launch a sat into orbit if it were going under?. It almost feels like a blackmail attempt to get more money out of us long suffering p.i.'s. I can't see how the big investors can benefit if it does go pop. so its in all our interests to keep it afloat.
Anybody get a feeling ordinary shareholders may have been shafted? The timing of the news release coupled with non existing share price increase/investment. Does anybody know can the big investers actually be better off if this goes under? Did the debt for equity have bigger implications in the backround than prev thought?
Surely if AVN can raise the funds, it'll win the contracts and then it'll be a case of "I WILL SURVIVE" and hopefully that fat lady won't be singing it.
AVN looks on its way to the graveyard. And it's a shame the board and management team have treated long term shareholders so poorly with mis information and what seems deliberate omissions. Suddenly an RNS after a successful launch showing the company is on the brink of insolvency. We were led to believe a successful launch and restructuring the former now complete would give the company a real chance to fulfil its potential. Let down.
Its a great achievement getting up into orbit, lets just hope the sp will eventually reflect this. Quite surprised the sp went down as i thought a successful launch would've moved price upwards. I think AVN will pull through, once the contracts start rolling in. Lots of patience required here.
Funny how the REAL trolls on this board have suddenly gone very quiet.......
That�s why I cannot understand posters who keep saying nothing new in the RNS!!! All of a sudden the companyare in trouble AFTER restructuring. I don�t think anyone here was thinking along those lines before the RNS.
To be fair, AVN had always assured the market that the debt restructuring meant they were sorted for a number of years, and hence plenty of time to let Hylas 4 revenues come roiling in - shareholders had a right to take them at their word. Then suddenly, there's a new issue, and the Company says insolvency if it doesn't proceed. That is (another!!) massive kick in the guts for long suffering shareholders. That said, if it goes through, you could well get a 100% return in a day. Will I buy tomorrow? Not sure - I'll decide in the morning!! If it goes sub 5p I will be very sorely tempted!! GLA
Yep, no movement prior to or after launch was a bad sign . People in the know were selling all the time into any possible rise. Whoever it was who sold immediately after the RNS made a good call. Think he got in the region of 10 p. That looks a long way off now .
Theres going to be one almight bounce or its going to 0. Looks like 0 at the min,share price not moving after the launch did not bode well, That 140 offer last year,,,if only! Think i might start putting the lottery back on instead!
Can we make AVN great again? we should know for sure by the end of this week.
Well, if the market have got it wrong because of a badly worded RNS, then the market have got it very,very wrong because the sp is falling as if we are in trouble.
16.20 5.65 selling 5.9 buying Market price 6.3 If ever I get my head around the spread and analysis I'll be a genius. No?
Can’t help but feel the last 6months their team spent rebuilding confidence was wiped out by one poorly written RNS, surely they vet these things and determine with professional advice how it’s going to be interpreted, maybe it is black mail as a last ditch... maybe it’s required by the courts following there consultations or maybe we really are still very in trouble... I did top up again but only to lower my average as last time we hit this record low I wished I bought a bit more