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CBM would appear to be a shell company that will relist into AIM to help raise the funds for the factory in China. While it would have been good to see diamond wood taken over by a company with existing resources we can at least take comfort that CBM would appear to exist only to progress Accoya in Asia...ultimately then this could finally put an end to the DW fiasco and allow Accsys to get exposure to a critical market. Will be interesting to see the finals and any comment the BOD might have on this development.
CBM would appear to be a shell company that will relist into AIM to help raise the funds for the factory in China. While it would have been good to see diamond wood taken over by a company with existing resources we can at least take comfort that CBM would appear to exist only to pr
Annual results release date and webcast 10 June 2015 Accsys, the chemical technology group, focused on the acetylation of wood, will be releasing its Preliminary Results for the year ended 31 March 2015, on Tuesday 16th June at 7:00am BST. There will be a presentation for analysts and investors relating to these results at 10:00 BST on Tuesday 16th June 2015. The presentation will take the form of a web based conference call, details of which are below: Webcast link: Click here or copy and paste ALL of the following text into your browser: http://edge.media-server.com/m/p/kz3ng8op Conference call details for participants: Participant Telephone Number: +44 (0)20 3427 1916 (UK Toll) Confirmation Code: 7095197 Participants will have to quote the above code when dialling into the conference. Please dial in 5-10 minutes prior to the start time.
Good find and yes if it goes through AXS would benefit from dealing with a better company .
http://www.morningstar.co.uk/uk/news/AN_1433230244299443500/cleantech-building-materials-set-for-reverse-takeover-of-diamond-wood-(alliss).aspx This could be very positive news if CleanTech are successful in taking over Diamond wood and have the resources to start producing Accoya
bugger
Ok the £ may take longer but still believe that by the end of the year we should be there. The next set of results will inform us,
Well Cornish looks like it has pushed on a mighty 0.75p to that £1 mark ;-). We should see the 4th quarter / full year update soon so that might help, you never know!
If the SP breaks 80p this week then I can see (I like dreaming) a push over the next 3 months towards £1. Anyone know what is happening to DW in regards to the Asian area or does AXS have to buy the contrcat in in order to find a new partner.
Looks like we will close on a new post sterling conversion high...gradual creep creep has taken us to 80p. Probably a month or so to full year results so hoping this uptrend continues before then. Will be interesting to see if we have finally got the DW fiasco out of the way in terms of the accounts and if we get a continuing picture of volume increase and associated margin benefits. Everything might finally be pointing in the right direction now...if so we could see a good re-rate to the SP but with AXS that's far from certain that's for sure!
I also like the sound of the proposed changes Rye and agree with your comment .Wll keep a weather eye out for the blue sky. Need it at the moment here in the chilly Peak District ! The SP has done well today. JJT
Good question Jolly and I suppose only AXS know the answer at this point tho. I would however hazard a guess that the 'chemical group' are potentially more interested and have deeper pockets for this type of JV than Ineos had (or wanted to have)....personally I like the sound of this and it fits nicely with my blue sky thinking that AXS will be bought out by a major player at some point..a large chemical group would be just the type of buyer that I envisaged ;/)
From an RNS today AXS are changing their joint venture partner INEOS to "a large international chemical group" to "optimise our participation in the building and operation of the world's first Tricola chip acetylation plant" "including allowing Accsys to derive revenue from both licensing and manufacturing" . " Full agreements are expected to follow later in 2015 ". "Accsys has also agreed to acquire the 50% share in TTL currently owned by Ineos .....until a new ownership structure is established ". "TTL is also in discussion with other parties which are expected to lead to the creation of a new consortium,including the Chemical Group, to fund,build and then operate the New Plant" It looks an interesting development hopefully good to all. Understand at the mo it may be inappropriate to name the "large international chemical group ". However INEOS is far from a minnow chemical group who incidentally are taking an active interest in shale gas development in the region of their huge Grangemouth unit. Why the switch ? JJT
Jack, I've never actually seen accoya in the flesh, so to speak, but was commenting on the 3rd party/distributor marketing - it seems those guys 'get it' and will be able to communicate the benefits of accoya to the end users. So often with new products or technology the marketing message does not get transmitted well by distributors (generally quite conservative). I have no idea how the DW issue got so out of hand, but it seems that AXS have got beyond that now and the SP is recovering strongly.
Alpha, I too was impressed with the samples of accoya wood and tricoya mdf(more like hardened steel than soft mdf !) stand layout and staff enthusiasm when my son and I went to a green build exhibition . So I bought a few shares. We have since bored jjoiners/carpenters/builders we know and wished we had known about it prior to renevating his present house , but will use it on the barn conversion. Have recently added and there has been some good buys the last few days. Despite DW the proposed global expansion via Licence looks promising for the future SP and eases concern over capital for development. GLA
SP is again testing the high of 76 reached at the start of the month - the highest it has been in more than 6 months. Saw my first Accoya products in a windows and doors catalogue the other day. 'accoya, accoya', I said to myself - that name seems familiar, then it clicked. They looked good and got a pretty good marketing argument made for them.
After very slow and steady SP rises the last two days have been characterised by wild, almost chaotic behaviour of the SP. Hopefully this will work itself out and we can get back to more conventional assessment of AXS prospects for the future.
Topped up a little as the volume and revenue does appear to be at a turning point. AXS is very quiet concerning DW. Would love to seee the original contract to establish if there were any timescales and what the break clause (if any) terms were. China is a huge market so a bit surprised we have had no update. I remember AXS had asked their Lawyers to review the Arbitration award but it can only be challeged if a material fact or mistake has been made and I susppect the Arbtrator took some legal advise. I concur that AXS may well sell out next year as they move into being purely a revenue company based on Licenses and others manufacture, advertise and sell the product. If so we could see a healthy jump in SP value . The current figures are pushing the SP back up and the next stage should provide us with a good profit.
Not sure you were wrong as such...it would have been useful to get an understanding of the impact on cash position of the diamond wood fiasco. Still that aside you can't argue with the numbers...dare I say it but maybe just maybe the worm has finally (and I mean finally...it's taken a while) turned here. The volumes are starting to look like they have significant momentum. My belief is that Accsys will be bought over at some point now they have proven the tech and now the market for their product...just a hunch really but that's my ultimate end game.
20% SP increase since I made my cynical posting on the day of the last RNS just 10 working days ago. Thank goodnes I didn't sell in my misguided frustration! GLA. Alfacomp - well observed and commented. We are on a roll, but DYOR.
Over the last 10 days almost every single trade has been at a higher price - there has been virtually no selling. However there is still at least 25% to go before reaching last years highs of 95+ so it looks like there is still plenty of upside potential to take advantage of the 42% increase in revenue reported in the last RNS. As usual DYOR.
It seems like the addition of graphene into the mix should make an interesting premium high technology wood? "We were pleased to announce the appointment of Sean Christie and Sue Farr as Non-Executive Directors in November, adding strength and diversity to the current Board of Directors. The fact that we have been able to attract individuals of Sue and Sean's calibre to the Company speaks volumes about what Accsys has achieved recently and the potential of our business. Sean Christie is the former Group Finance Director of Croda International plc, a global manufacturer of speciality chemicals. He is also a Non-Executive Director of Applied Graphene Materials plc."
· Continuing growth in demand with Accoya® wood revenue increasing by 42% to €28.7m for the nine months ended December 2014 (2013: €20.2m); 5% price increase successfully implemented during the quarter will become fully effective for the final quarter of the financial year; · Strong balance sheet maintained with cash balance of €9.0m at 31 December 2014 (30 September 2014: €13.5m) and net cash of €7.1m (30 September 2014: €12.0m); 48% improvement in underlying cash-flow compared to same quarter last year; . Improved sales and profitability gives us confidence that the Company will be cash-flow positive during the final quarter of the current financial year; · Record production delivered in January 2015 resulting from on-going plant optimisation; indicates Arnhem production capacity in excess of 40,000 cubic meters per annum (+12% from last stated capacity) This last statement suggests they are already exceeding the previously stated capacity (35,000 cubic meters) at Arnhem. Dose anyone know if this is true? or do they have plans for more shifts and /or extra production lines to achieve the stated capacity?
today. No indication of level of losses. No comparison of actual turnover against budget.
Meant to post that I sold out on 2nd September after holding since May 2013 as I was unhappy about the Diamond Wood situation. Just checked back tonight to see that the price has bombed since then. Was sorry to go but in hindsight glad I took my profits when I did!