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I probably have more invested than all of you and I am going nowhere because this really is going to fly just like I told you all!
ACTUAL FACTS?? ARE YOU DENSE?? This whole company is only worth £70m according to market cap yet:
2021 EBITDA $65M, REAL NET PROFIT $18M
2022 Forecast EBITA $80M, Real net profit $35m.
Further growth and dayrate increases predicted after this!
This is gonna fly and those are the facts! tsr
I suspect mcatee is taking off/selling today :)
If this stock hasn't "taken off" with this news and visible numbers,I don't think it will take off unless someone takes it out.I have been saying this all along that the numbers are already known to the market.
@ amtec - 50m raise isn't happening.the board seems to be leaning into issuing warrants - thats ur worst case scenario.Also net debt was 371m as of 12/2022 and they have already collected cash worth $30m since then from the 2021 receivables. So deleveraging is happening at decent clip
These are great results for the company and very positive outlook. Some of you are too bullish, some too bearish. Strategic patience here is key. It's most definitely not a value trap.
In terms of the banks/warrants/equity raise....they provided some interesting clarification to their choices:
1. Raise $50m (issuing well north of 700m shares at your customary discount to current price levels). Ouch!
2. Effectively raise only c. $10m (via issuance of warrants to banks equivalent to a "mere" 132m shares or 11.5% of the company at 6 pence). Nice!
While neither option is ideal under normal circumstances, in the context of this company option 2 would be a splendid outcome. So the banks would have 11.5%.....not that big of a deal! Any indeed they confirm as of 31-Dec-21 option 2 was the more likely. Any of course perhaps we'll all get luck y and they'll refinance entirely later this year and this all becomes a moot point.
Also nice to see (am surprised, as my calculations say differently) that they expect to be below 4.0x leverage by year end.
Go do one. If your going to say this is going to fly then write some actual facts about why. All your doing is filling the board with cr@p that no one wants to read.
Wow it’s flying so high I can hardly see it.
In the land of the blind the one eyed man is king! Have faith
Not wrong at all, I only ever mentioned that the company needs to raise $50m, guess what that’s still the case.
The Group successfully concluded a US$ 27.8 million equity raise in June 2021 which prevented an event of default on its loan facilities. Under these facilities, the Group is required to raise a further US$ 50 million of equity by the end of 2022 or issue 87.6 million warrants entitling the Group's banks to acquire 132 million shares, or 11.5% of the share capital of the Company, for a total consideration of GBP £7.9 million, or 6.0 pence per share.
The Group is exploring the various contractual options available per the current bank terms to take place by the end of 2022. As disclosed, the two options available are the raise of US$ 50 million equity or the issuance of 87.6 million warrants giving potential rights to 132 million shares if exercised, which would result in cash proceeds to the Company of £ 7.9 million. As at 31 December 2021, neither of the two contractual scenarios had been ruled out. The Board however consider the issuance of warrants to have a slightly higher chance of occurrence.
While Amtech is wrong, I don't see how you are right either. Barely budged on this earnings, which was already expected. No buyers willing to punt on this and this is a classic value trap
Stick with me, u will be wich
We r rich
Thought you’ve have had the RNS by now, must be saving it for that dreaded Friday RNS. That or they are waiting for the ink to dry on the $50m cash raise.
This is going to fly tomorrow!!
Cant wait for these results!!!!!!!!!!!!!!!
Fasten your belts! Good luck all!
Apart from that dipstick Amtech who is not invested of course!
Results this week innit ?
Without the raise
If the raise the $50m
Not sure if you noticed, but they are generating positive cashflows and can reduce that debt to just above 3x mcap by the end of the year. All else equal, mcap should double?
Sorry over 4x
Don’t forget about the debt which is over 5x the Mcap, what’s the covenant headroom on that Mcatee ?
The ebitda is currently higher than market cap and rising! Bottom line profit of 20% market cap! The Damon’s gonna break! This is gonna fly friends
It’s about to blow folks!!!
I can assure you that will never happen Mcatee.
Ur grandkids will be studying this one day and how u missed out on getting rich
I’m sure it’ll sit next to the Magna Carta in the history books Mcatee.
Coz its 15% of the market cap and this will double next year!