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Meldrew, was that in a conversation with someone at HL?I’m also with HL, my shares too have a value attached (though I haven’t noticed if this ever went to zero) but there’s no message about any takeover. Perhaps just someone misinterpreting the share suspension?
I've since read another notice that says AVO is involved in a takeover situation
Thanks for the heads up Meldrew44, we've been here for a long time so hopefully we'll at least get something back.
According to HL, who are now giving my shares a value again, although I'm not allowed to trade, AVO are in a bid situation. That's all the information I've got. It came through as the stock market was closing. It can only mean that someone is talking to AVO about a takeover bid. Whether it will come to anything is anyone's guess
Hi Meldrew is that at a tongue in cheek remark or fact, I hope it's the latter and we at least get something out of this. Can you share the source or is that to sensitive.
Cheers Al
Someone is buying us out. I've got no more information than that. I don't know who they are or how much they intend paying us. I guess we might hear more on Monday
That’s an insolvency primer RNS if ever I saw one, HL have stopped showing a value in my a/c….. all the years funding this quite amazing technology and I can’t see us getting anything to be honest, a great deal for some vulture capitalists getting this for peanuts, still haven’t had a failure since Carillon ha ha fortunately not quite as much invested as here - good luck all
Sorry getting my debtors and creditors mixed up. Previous post should have read:
Their problem is finding a deal that the people they owe money to, will approve. This includes payments to suppliers and for services, not just money lenders, which the word creditors suggests.
I admire your faith CuriousInvestor, and hope it comes good for you and anyone else still invested. The company's continued failure to submit the 2022 Annual Report makes their position look untenable to me. They are unlikely to be allowed to resume trading without it.
We may be at the back of the Q, but they still have to get it past us, if it ever gets that far however and much we are left with.
I would not exactly say I am upbeat, however I am more hopefull that we are closer to a deal being completed. Heads of terms can be characterised as the following statement in the last RNS "the Investor signed an updated non-binding term sheet ". The fact that the company has not been delisted would require discussion with the LSE, the fact that the company has not been declared at this stage insolvent or in administration I can only view as positive. The latest RNS clearly still states negotiations are at an advanced stage. Have to remain hopefull too much at stake here for myself, all investors, directors and creditors who are clearly still supporting this process.
CuriousInvestor,
I fail to see why you are so upbeat on an RNS that says nothing of any significance, after 6 months of fruitless negotiations. Also I couldn't find any reference to your statement "the Heads of Terms are already agreed" in either of the last two RNS's. Perhaps you could explain what the Heads of Terms are and just who has agreed them?
AParky,
Their problem is finding a deal that their debtors will approve. Then agreement with financiers can be sought. Shareholder approval is way down the list, and they are likely to face a severe haircut, even if the company survives, imo.
I do not believe they are struggling to do a deal as the Heads of Terms are already agreed, the absence of a deal would be of more concern to shareholders being a case of getting some value or total loss. I should imagine that this is just an extremely time consuming and complicated process. I also note that amounts owing has increased now since 23rd October by £8 million £28 million (£22m) trade & other creditors, £41m (£39m) Financial debt which would indicate to me fees are being rolled up and as such those financial providers and advisors acting for the company one would assume are confident of a positive outcome.
It's more than likely that they are struggling to come up with a deal that shareholders will approve.
Might need to hire some staff first, Basil! I can’t imagine many of them are still there. Who can afford not to be paid for eight months? I expect some of the liabilities that is intended to be settled with shares relates to remuneration owed to staff.
RNS was great news. Harley Street is our new head office and the correspondence address for at least one major shareholder. We have a 50 year lease on the two converted premises ready and able to support installation of a LIGHT machine. Once installed and ratified,we have a full order book for treatment. Onwards and upwards for available capital cities of the world!
Are they still employing staff at the office headquarters?
I think you are getting confused between SI Capital (brokers in Godalming,jointly acting for BOD) and SI Capital (Spanish/UK Equity fund).
What makes you think SI Capital are involved? They seem to focus on renewable energy, not medical tech.
The RNS only states the names of the advisers. It still does not divulge the name of the Company it is negotiating with.
Negotiations apparently have been in advance stage for the last 3 or even more months yet nothing concrete signed 😑
The company unfortunately is in critical condition and I am no longer has much faith left,only hopes.....I really fear someone will snap the brilliant technology for next to nothing which will leave us with very very little if any.
Going without say, I really hope I am wrong 🙏
In that assumption.
The UK is unique among developed economies in not providing Government funding for anything worthwhile that might benefit the economy.
So the answer to your question is no. There isn't any Government funding available.
I wish it were otherwise
Hanging on by our fingernails
Given the cutting edge technology here and the huge potential in the product I wonder why government funding is not available. Perhaps it is. Does anybody know?
Good Lord, an RNS! Seems both the Recap plans and bridging loans are both at advanced stages. I’ll believe it when I see the money.
"and with the price dropping fast Avo had no option but to suspend trading. "
The reason AVO suspended trading was because they had run out of money and were also unable to publish its audited 2022 Annual Report by 30 June 2023.