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@TruthChecker – I drove past the old A40/Park Royal branch on Sunday and can confirm it is closed/empty.

Something tells me that the new Berkeley Square showroom will not have a Travelodge next door. ;-)

- - - - - - -

@livestock – Thanks for posting the links to the Adrian Hallmark interviews.

It will be interesting to see how his approach is reflected in the 2026 H1 Results next month.

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@TinyPie2 – Please let me know if you think I’ve missed anything worth reading in these green boxes. ;-)

(Photo is a bit blurred, but you get the idea.)

https://lh3.googleusercontent.com/pw/AP1GczPIkHC6eGN3KtGloo5JMxE7ILFodTWEyLTu4gU13eL3cQVPi93T8d7n4lSKpfKx4L5qVuyf4iGD__bNBT8Lvzx6i3JuIcDrxfDOg8i2Qle6vO96qm8gsa0UFhRYYLqGYVB4Ev1Y48gv1re5tuXSatyPKw=w498-h948-s-no-gm?authuser=0

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Cheers, Paul. :)

@Mukiwa – As promised, all quotes taken before filter applied, or from previous replies highlighting basic errors.

Brandolini's Law: “The amount of energy needed to refute BS is an order of magnitude bigger than that needed to produce it.”

- - - - -

c2645sg - 28/02/26 – Quote: “AML have 250m cash in hand and owe Lucid 250m. The only reason they have that is cos they made circa 100m from F1 stake sale and 50m from F1 naming right recently.”

Facts – AML had £250m cash @ 31/12/25 & it did include £108m from sale of AMF1 stake.

Fiction - The £250m @ 31/12/25 did not include £50m F1 naming rights (only approved on 09/03/26).

Smoke & Mirrors – Comparing AML’s £250m cash balance with their £250m Lucid liabilities.

Fact – A £71.7m cash liability to Lucid, outstanding at 31/12/24, did not form part of AML’s cash spent in 2025.

Fact – Current £73.3m liability, plus £177m minimum powertrain component spend, does not equal £250m cash due in 2026.

- - - - -

c2645sg – 23/10/25 – “...forecasts £360mn of cash burn in 2025...That’s 1.7m per day cash burn. AML raised £110m a few weeks ago and currently burning through 1.7m per day, that's 65 days. Not long to go until the next cash raise folks, beware.”

Fiction – The AMF1 £108m, raised in Q3 2025, was not burnt at £1.7m a day and not used up in 65 days.

Irony - Using same F1 £108m for a different 2026 argument, after repeatedly saying it would all be gone in Q4 2025. < Roll Eyes >

- - - - -

c2645sg – 06/10/25 – “Buckle up big boys, get your wallets out for the 250m cash raise, minimum.”

Fiction – Shareholders did not get their “wallets out” for any form of equity cash raise, let alone £250m.

DYOR – As previously stated, how AML raises cash in the future will determine the impact on Private Investors.

- - - - -

Finally, just for fun, how about an AML bankruptcy prediction tracker? As of today, 02/05/26:

64 days since: “Any minute, this could be delisted, or trading halted. Please beware everyone.” - c2645sg - 27/02/26

1,297 days since: “Priced for its 8th bankruptcy now.” - c2645sg - 13/10/22

- - - - -

Same old nonsense, just different days. < Roll Eyes >

#MoreComedyGold

c2645sg - 26/02/26 – Quote: “Yup, because they hate the truth.”

TheAnswerIsNo - 16/01/26 – “C26 will be proved correctly on this quarter and people's will either apologise or disappear.”

The.Crowman – 06/01/26 – “C26...on all matters AML has been proven to be correct for as long as I can remember.”

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@c2645sg – Funny how you & your acolytes/sock-puppets (delete as appropriate) see everyone else’s faults, but your own.

You posted the same FT link, & your (mis)interpretation of JPMorgan’s forecast, over 35 times since Oct.25:

https://lh3.googleusercontent.com/pw/AP1GczPdp8KdeFc2vQ6Hld5987k9ksZHU_xmHzLK1LFDa05OeBIn7fZ6ZOnOLaEgdlkLUg7mOEFN1ta0tI1NLYOKMTz3N4kzwmBq3IJ6_96F_O5Euy7q1ZibOd1PxHnAL6eewefvXLZIhv32TeHt-wD_JonJBg=w1065-h948-s-no-gm?authuser=0

You also warned that Q4 would be worse than Q3 multiple times:

https://lh3.googleusercontent.com/pw/AP1GczPmuOXqCJTp_OuPMLnbbb_fzstAvfjYWB6_BTR52aB-tJVG2YYE_7OElrWHEQlfFFUNIyWrkZqswxPQknnaQGS5o7f10gsXXNStMtu2IZL7P_v7E1vfRYlKv--HcrFqdocJ93MJAl25bF9MiwQ0tb53bg=w930-h284-s-no-gm?authuser=0

Truth = Cash wasn’t “running out fast folks” (it stayed the same) & Q4 was better than Q3 (despite the £71.4m interest).

https://lh3.googleusercontent.com/pw/AP1GczPLRIVdegdi52Vs1OkpGrL0zQaz-poZH61UL4UQQPJ_LrA5At74MY9yfluaXaBTZMY5wfsNOgTrOsdEjakLxvgDRKa-bS1HBNPkzvxyYZSPy3CwaccBQI8aoiPkqJuBwxnDG9-w_xH1zhX0dqkCrO-esg=w762-h563-s-no-gm?authuser=0

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The.Crowman – 27/02/26 – Quote: “that want to claim blacks white”

AML 2025 - Black or White – Pick a colour.

Annual Car Sales – 4,000 or 5,448

Q4 Valhalla deliveries – 0 or 152

2025 FCF – (£590m) or (£410m)

Q3 FCF (£94m) & Q4 FCF +5.1m – Q4 Worse or Q4 Better

Q4 Cash Flow Per Day - Burn £1.7m or Raise £55k

£110m raised from AMF1 in Q3 – Will be used up in 65 days or Remain fully intact on 31/12/25

Next Cash Raise - £200m @ 40-45p or £50m from F1 naming rights

If you really think the fiction posted by @c2645 matches the AML facts, then you are clearly the one claiming black is white. ;-)

- - - -

c2645sg Quotes:

- 27/02/26 - “Any minute, this could be delisted, or trading halted. Please beware everyone.”

- 26/02/26 - “People have short memories.”

- 13/10/22 - “Priced for its 8th bankruptcy now.”

- 24/01/22 - “I have a photographic memory, I NEVER forget.”

@c2645sg – So, over 3 years since you first told us AML was going bust, your latest warning is down to minutes? < Roll Eyes >

- - - - -

c2645sg Quotes:

- 27/02/26 – “probably one of the worst investments in history”

- 27/10/20 – “I won’t be selling ANY of the considerable amount I have for at least 3 years”

- 18/11/21 - “I am an unhappy shareholder. The share price has dropped from £23 to £16 this year”

@c2645sg - Are referring to your own AML experience? As we’ve never seen your “I’m selling my AML shares” post on here. ;-)

- - - - -

TinyPie2 - 28/02/26 – Quote – “I’m not trying to pretend the AML SP isn't in a bad place”

@TinyPie2 – Agreed, I’ve updated my MCap comparisons below, which confirms this is a Stroll Era low point.

As always DYOR, as I’m not here to tell people what they should, or should not, do with their own money.

- - - - -

AML ‘Stroll Era’ Market Capital Analysis:

- Feb.21 – Initial Stroll era high - Approx. 114.9m shares @ £22 = £2.5bn MCap

- Sep.22 – Pre-4:1 RI low - 114.9m shares @ £4.80 = £0.55bn MCap

- Nov.22 – Post RI low – 698.7m shares @ £0.89 = £0.62bn MCap

- Jul.23 – Record Stroll era high - 737m shares @ £3.96 = £2.9bn MCap

- 26/02/26 – Yesterday’s low point – 1,012.4m shares @ £0.449 = £0.455bn MCap

- - - - -

@TinyPie2 – It is also worth considering AML ‘free float’ of shares, as there is currently no mass sell-off going on.

Combined volumes for Thu (26/02) & Fri (27/02) were circa 22m, or around 2% of AML’s 1bn+ total shares. See here:

https://www.londonstockexchange.com/stock/AML/aston-martin-lagonda-global-holdings-plc/company-page

The ‘insiders’ (Yew Tree, PIF/Lucid, Geely & Mercedes) all have seats on the board and over 721m shares / 71% of AML.

- - - - -

@TinyPie2 – Whilst it is mildly amusing highlighting sanctimonious hypocrisy, my next post will be my last on here for a while.

Mind you, given the reaction that pointing out the errors made by our most prolific poster usually gets... < Roll Eyes >

Yes, I once said I’d lose faith if the SP dropped below £15, which was my belief at the time of posting. #OldNewsTimesChange

However, a lot of water has passed under the AML bridge since then and I’ve also posted that my faith was rewarded when I sold in Jul.23 (I’ve also provided a link to one of two “I’m selling” posts). I’ve also posted that at that time, my AML holding was split 5% over £15, 20% under £15 (excluding RI) and 75% at £1.03 (after the 4:1 Rights Issue in Sep.22 transformed my holding).

The shares I sold covered all my buying costs, generated a profit and left me with ‘free’ AML shares that I still hold. I even used public records to show how my average worked, something c2645sg perpetually fails to point out any errors in my calculations:

https://www.lse.co.uk/ShareChat.html?ShareTicker=AML&share=Aston-Martin-Lagonda&thread=9FBFFE45-270E-49F7-B2E1-34BD119991A4

Funny how our most prolific poster, who never forgets, only ever highlights one part of my story whenever they want to change the subject to avoid acknowledging the errors, inconsistencies or double-standards in their own posts. #Smoke&Mirrors

- - - - -

Brandolini's Law - “The amount of energy needed to refute bulls**t is an order of magnitude bigger than that needed to produce it.”

https://en.wikipedia.org/wiki/Brandolini%27s_law

- - - - -

So, until next time, take care, Paul. :)

@Thor111 – Don’t hold your breath waiting for @c2645sg to admit any errors in their predictions. < Roll Eyes >

Dictionary - Charlatan - Noun - A person falsely claiming to have a special knowledge or skill.

c2645sg – 28/08/25 - “I check in here 2/3 times a day to correct the rampers so the neutral can hear both sides of the story.”

Let’s put c2645sg’s self-professed raison d'être to the test...

c2645sg – 06/10/25 - "I presume that means 360m in H2 2025, so 590m total over 12 months which is around 1.7m per day. Sounds more like it.”

Call that £1.7m figure a generous rounding up, as £590m over 12 months equals £1.62m a day.

Eventually, @c2645sg stopped referencing their own 2025 FCF calculation of £590m...

c2645sg – 23/10/25 – Quote: “...forecasts £360mn of cash burn in 2025...That’s 1.7m per day cash burn. AML raised £110m a few weeks ago and currently burning through 1.7m per day, that's 65 days. Not long to go until the next cash raise folks, beware.”

But, £360m / 12 months = £0.99m per day & you’d be hard pressed to round that up to £1.7m, even on a bad maths day. ;-)

@c2645sg repeatedly warned the neutral to ‘beware’, 12 times in 12 days in Oct25, including 3 times in 1 day.

https://lh3.googleusercontent.com/pw/AP1GczMDhc_ZLArP91XYKnBIsoFdwG1n8mGKGMb3lTqYkdTWJ66stXMF1mMdKK5glHkE8r9eEGUgyLIpX0VMR8-GYnybX-ALV4KZOvgr_TDLmeBB3n7eRH3YFunYOYqPdIXdsAzhHn06Azunqv2NoU5RxhRKgg=w933-h929-s-no-gm?authuser=0

As AML’s FCF @ 30/09/25 = (£415m), JPMorgan’s 2025 forecast of (£360m) actually assumed £55m +ve FCF in Q4 2025.

So, despite repeatedly quoting JPMorgan’s forecast (another 7 times in Feb.26), @c2645sg clearly didn’t understand it at all.

As JPMorgan’s forecast would see the £110m raised still intact at the end of 2025, not used up, as per their warnings.

2025 Trading Update – 20/02/26

https://www.lse.co.uk/rns/AML/notice-of-gm-and-fy-2025-trading-update-2v4wgi99eh98bcl.html

AML RNS – “Total liquidity at 31st December 2025 remained broadly flat compared to Q3 2025 at £250m. This reflects a sequential improvement in performance in Q4 2025, for which period modest positive free cash flow is expected.”

Therefore, the facts are that for 2025 as a whole, AML performed worse than the JPMorgan forecast, FCF circa (£400m+).

However, for Q4, AML’s cash burn was approx. £0 per day, not @c2645sg’s £1.7m a day, some difference. < Roll Eyes >

So, were @c2645sg’s countless posts, with wrong calculations/interpretations, really giving the neutral both sides of the story?

Such bad maths certainly explains why @c2645sg doesn’t challenge my Michael de Picciotto’s AML average calculations:

https://www.lse.co.uk/ShareChat.html?ShareTicker=AML&share=Aston-Martin-Lagonda&thread=9FBFFE45-270E-49F7-B2E1-34BD119991A4

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Have a good day everyone, catch up next week, cheers, Paul. :)

@Thor111 – That is not the only example you could use, so, just for some Friday afternoon fun...

AML’s 2025 Accounts – Compare & Contrast

2025 Trading Update – 20/02/26

https://www.lse.co.uk/rns/AML/notice-of-gm-and-fy-2025-trading-update-2v4wgi99eh98bcl.html

- - - - -

AML RNS – “The Group delivered total wholesale volumes of 5,448”

c2645sg Prediction - 26/08/25 - “Get used to 4000 car sales per year”

- - - - -

AML RNS – “This included 152 Valhalla deliveries in Q4 2025”

c2645sg Prediction - 20/09/25 - “Where is the Valhalla? I bet we don’t see any in 2025”

- - - - -

AML RNS – “Total liquidity at 31st December 2025 remained broadly flat compared to Q3 2025 at £250m. This reflects a sequential improvement in performance in Q4 2025, for which period modest positive free cash flow is expected.”

c2645sg Prediction – 06/10/25 - "I presume that means 360m in H2 2025, so 590m total over 12 months which is around 1.7m per day. Sounds more like it.”

Context – AML’s 2025 Q3 YTD FCF = (£415m), so @c2645sg predicted a Q4 FCF of (£175m) to reach “£590m total over 12 months”, and yet “Q4 = “modest positive”.

- - - - -

AML RNS – “This reflects a sequential improvement in performance in Q4 2025, for which period modest positive free cash flow is expected.”

c2645sg Prediction – 29/10/25 - “Remember Q4 has the 2nd debt interest payment of £75m due, so Q4 will be worse than Q3.”

Context – AML’s Q3 2025 FCF = (£94m), Q4 = “modest positive”, therefore Q4 was better than Q3.

- - - - -

AML RNS – “The £50m consideration from the Proposed Transaction will enhance the Group's liquidity position.”

c2645sg Prediction – 21/11/25 – “I am hearing cash raise enroute... they need to raise 200m... That's got 40-45p written all over it.”

- - - - -

c2645sg Prediction - 30/07/25 - “Stroll private takeover at 25p on the cards now.”

Did I miss this announcement in the RNS? < Roll Eyes >

- - - - -

Given the above, @c2645sg can hardly claim they are here to protect the neutral from the ‘fanboy rampers’ now, can they? ;-)

Instead, it supports their own recent admission for real reason behind their high post count (they “get off on it”). Sad really.

https://lh3.googleusercontent.com/pw/AP1GczOKOBS-YXfzhq5eSPMJtbvRxAFVQKo1wA9xyJxKJ9NW8J1gw5VbyTlo1xaZPU5_36uWkUEpEfMvLjTSNVW6xUortl6Vl2JUkCGGpW73r54wtsAx2mENPjwQY54N6Z3Vd3Hvu7GcieDDb1VrdrL-RJVgDw=w1235-h236-s-no-gm?authuser=0

- - - - -

Have a good weekend everyone, cheers, Paul. :)

@The.Crowman – Funny how you have exactly the same hypocritical double-standards as @c2645sg. ;-)

Posting this:

The.Crowman - 10/02/26 – Quote: “folk like you Stocky just cannot help yourself from being offensive”

The.Crowman - 09/02/26 – “Always the last refuge for the terminally stupid... Throwing insults.”

After this:

https://lh3.googleusercontent.com/pw/AP1GczMh4Bvtvw8Xd2rJF4y_sXs-yU6P5vcZcd20WgYEgmcDMx8cc52eWe3i0pzXPQe5xhht55vEP61jxYSV2UhLo65ejSxuEsoMaX8pltrPrHILsGmZKKcVEPmWUIX02TTqn7exEp6wKhadJkEZtrI0au3waA=w1243-h153-s-no-gm?authuser=0

< Roll Eyes >

- - - - -

The.Crowman - 10/02/26 – “AML will need more money as night follows day.”

@The.Crowman – Do you accept the risk to investors depends on how AML raise any extra cash they may need?

AML have raised cash a variety of ways over the last few years (Private Debt, key investors, unequal CR, RCF & a RI).

From Nov.24, AML raised £381.75m, split £162.5m from the major shareholders (Yew Tree, PIF/Lucid, Geely & Mercedes), £110m private debt, £110m F1 stake sale & £1.25m from retail/private shareholders.

Since the Sep.22 Rights Issue, Private Investors have provided ‘just’ £5.25m to AML (DYOR):

Aug.23 - £4m - https://www.lse.co.uk/rns/AML/result-of-equity-issue-c8j3x74zrxlapmm.html

Nov.24 - £1.25m - https://www.lse.co.uk/rns/AML/result-of-equity-issue-ds4mxytf765nwfq.html

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The.Crowman - 10/02/26 – “This is why C26 posts on here”

[ Panto ] “Oh no it isn’t!” [ / Panto ]

As @c2645sg recently provided a rather pitiful explanation of the real reason behind their high post count.

https://lh3.googleusercontent.com/pw/AP1GczOKOBS-YXfzhq5eSPMJtbvRxAFVQKo1wA9xyJxKJ9NW8J1gw5VbyTlo1xaZPU5_36uWkUEpEfMvLjTSNVW6xUortl6Vl2JUkCGGpW73r54wtsAx2mENPjwQY54N6Z3Vd3Hvu7GcieDDb1VrdrL-RJVgDw=w1235-h236-s-no-gm?authuser=0

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c2645sg – On repeat – Quote: “JPM says. It expects a cash call on similar terms to the previous two” & “That's a 1/3 of the current market cap, so a cash raise would be at 40p.”

@c2645sg – You already know your 40p CR prediction contradicts your favourite JPM quote, as the “similar terms” were:

May25 - £52.5m from Yew Tree at 70p per share, a c. 7% premium to AML’s SP on 28/03/25.

https://www.londonstockexchange.com/news-article/AML/proposed-investment-by-yew-tree-consortium/16964907

Nov.24 - £110m from ‘insiders’ + £1.25m from PIs at 100p per share, a c. 7.3% discount to AML’s SP on 26/11/25.

https://www.londonstockexchange.com/news-article/AML/result-of-equity-issue/16783354

@c2645sg – But, don’t let the facts stop you posting mathematical nonsense (again), as 60p +/- 7% doesn’t = 40p, does it?

Or should we all just be grateful your 40p suggestion is more than your previous 25p one? ;-)

c2645sg - 30/07/25: “Stroll private takeover at 25p on the cards now.”

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Have a good day everyone, cheers, Paul. :)

C2645sg - 15/01/26 – Quotes: “I'll keep posting facts” & “At least I do my homework and post links”

#NeverNotFunny

@c2645sg – Unfortunately, the evidence shows your RCF homework should have be marked “F”. ;-)

As your multiple RCF posts were clearly not facts:

c2645sg – 05/08/25 – Quotes: “...now they have borrowed 160m of the 170m” & “Now the RCF is almost fully drawn, there can be no more” & “AML have been drawing cash from this credit agreement over the last year, and now they have borrowed 160m of the 170m, AS I STATED... 2. Included within loans and other borrowings is the balance drawn on the Group's £170.0m RCF. At 30 June 2025 £60.0m of the £170.0m RCF was drawn down in cash (30 June 2024: £90.0m of £170.0m facility, 31 December 2024: £10.0m of £170.0m facility). £5.9m of the RCF has been reserved for the issuance of letters of credit and guarantees (30 June 2024: £5.9m of the revolving credit facility was reserved; 31 December 2024: £5.9m was reserved).”

- - - - -

Facts you say? Screenshots you say? Links you say?

AML_007 – 06/08/25 – Quote: “It is not ‘almost fully drawn’, there was £104.1m available on 30/06/25”

AML_007 – 09/01/26 – Quote: “AML’s Q3 2025 results showed another £103.7m drawn down from their £170m RCF, leaving just £0.4m on 30/09/25.”

https://lh3.googleusercontent.com/pw/AP1GczO3FDiykfHkiYeYSOfJhl_dDzUzRja7nEaqKN4T84-QP9gmRpbPm2S119B2UCkqEzE0U6uWKMHw5KuRNWHjl2crZcMfNp-oJetCUnmYuIFENuIEajQPB_zRH0Lhs30tTqINsOrNPYfI-UzorISPMKKN6A=w721-h585-s-no-gm?authuser=0

AML’s H1 2025 Results:

https://www.lse.co.uk/rns/AML/interim-results-8e0ycmpk4talvbz.html

AML’s Q3 2025 Results:

https://www.lse.co.uk/rns/AML/q3-results-for-the-quarter-ended-30-september-2025-4jm8qd0l65h4lky.html

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Have a good day everyone, cheers, Paul. :)

PS

@c2645sg – After 5+ years & almost 5,000 posts, did you really just shred all credibility by posting “I get off on it”?

https://lh3.googleusercontent.com/pw/AP1GczOKOBS-YXfzhq5eSPMJtbvRxAFVQKo1wA9xyJxKJ9NW8J1gw5VbyTlo1xaZPU5_36uWkUEpEfMvLjTSNVW6xUortl6Vl2JUkCGGpW73r54wtsAx2mENPjwQY54N6Z3Vd3Hvu7GcieDDb1VrdrL-RJVgDw=w1235-h236-s-no-gm?authuser=0

Oh dear. < Rolls Eyes >

TheAnswerIsNo - 06/01/26 – “C26 always been correctly with their statements”

The.Crowman - 06/01/26 – “...on all matters AML has been proven to be correct...”

- - -

Here is just one example of @c2645sg’s incorrect statements, regarding AML’s Revolving Credit Facility (RCF).

As AML’s Q3 2025 results showed another £103.7m drawn down from their £170m RCF, leaving just £0.4m on 30/09/25.

Yet, back in August, @c2645sg was adamant that AML had already used up £160m of the £170m RCF in H1 2025...

- - -

c2645sg – 05/08/25 – Quotes: “...now they have borrowed 160m of the 170m”

“Now the RCF is almost fully drawn, there can be no more”

“AML have been drawing cash from this credit agreement over the last year, and now they have borrowed 160m of the 170m, AS I STATED... 2. Included within loans and other borrowings is the balance drawn on the Group's £170.0m RCF. At 30 June 2025 £60.0m of the £170.0m RCF was drawn down in cash (30 June 2024: £90.0m of £170.0m facility, 31 December 2024: £10.0m of £170.0m facility). £5.9m of the RCF has been reserved for the issuance of letters of credit and guarantees (30 June 2024: £5.9m of the revolving credit facility was reserved; 31 December 2024: £5.9m was reserved).”

- - -

The Q3 results correspond with my previous post about AML’s RCF, shown between the hash marks (#) below:

# # # # #

AML_007 – 06/08/25 – Quote:

@c2645sg – You “worked in the city”, but don’t know brackets are used for prior year comparisons? < Roll Eyes >

AML’s Available Facilities at a point in time = RCF, less cash drawn down, less reserved:

30/06/24 = £170m – £90m - £5.9m = £74.1m

31/12/24 = £170m - £10m - £5.9m = £154.1m

30/06/25 = £170m – £60m – £5.9m = £104.1m Available

- - - - -

It is not ‘almost fully drawn’, there was £104.1m available on 30/06/25, as per AML’s 2025 H1 accounts.

Simply SHOUTING doesn’t make your adding up of 60 + 10 + 90 = 160 nonsense correct.

- - - - -

@c2645sg – You “worked in the city”, but don’t know that the difference between cash drawn in Jun. & Dec.24 was due to AML paying off the RCF with one of the very cash raises you bang on about? < Shakes Head >

RNS - 27/11/24 – “The net proceeds from the Share Offering.... are expected to... repay the borrowings under its existing super senior revolving credit facility...”

https://www.lse.co.uk/rns/AML/result-of-equity-issue-ds4mxytf765nwfq.html

# # # # #

A belated ‘Happy New Year!’ everyone, cheers, Paul. :)

PS - c2645sg – 23/12/25 – “How many Valhallas were they supposed to sell in Q4 to not issue a profits warning? ;)”

@c2645sg – AML issued profit warnings for their 2020 & 2021 accounts on the 7th January of the following year.

Therefore, with no warning issued for 2025, their accounts will be ‘broadly in line’ with the RNS guidance:

https://www.lse.co.uk/rns/AML/q

#MakeYourMindUp(Again)

c2645sg – 27/11/25 - 08:09 - “AML needs to raise £200m, and thats from me, the house broker, FT et al. That's 1/3 of their current market cap. So a cash raise would be at 40p, 1/3rd lower than the current share price.”

c2645sg – 27/11/25 – 08:11 - “Aston Martin may need to raise another £200mn, JPM says. It expects a cash call on similar terms to the previous two”

@c2645sg – Do you even read your own posts anymore? As you contradicted yourself within minutes. < Roll Eyes >

DYOR – JPMorgan expects £200m on “similar terms to the previous two” cash raises & those terms were:

May25 - £52.5m from Yew Tree at 70p per share, a c. 7% premium to AML’s SP on 28/03/25.

https://www.londonstockexchange.com/news-article/AML/proposed-investment-by-yew-tree-consortium/16964907

Nov.24 - £110m from ‘insiders’ + £1.25m from PIs at 100p per share, a c. 7.3% discount to AML’s SP on 26/11/25.

https://www.londonstockexchange.com/news-article/AML/result-of-equity-issue/16783354

@c2645sg – So, how does your 08:09 prediction of a “1/3rd lower than the current share price” tie back to your 08:11 FT quote of JPMorgan expecting similar terms to the May25 & Nov.24 equity cash raises?

- - - - -

c2645sg – 27/11/25 – “And there’s more to come. JPMorgan, Aston Martin’s joint house broker, forecasts £360mn of cash burn in 2025 and a further £230mn in the first half of 2026.”

@c2645sg – You’ve posted that FT quote multiple times (13+ times in a month), but why have you suddenly stopped copying & pasting your £1.7m daily cash burn analysis on to the bottom of that FT quote? For example:

https://lh3.googleusercontent.com/pw/AP1GczPH06gCb9vi0Y8H1n8VHr4fEK8M_fGzEVmaQa0edlnwPi3nHuEWxcAsXxUiJgd2iGIU4vW7Qia3qankyteyy_O2cy3KI4q-ACfU4pbld8tX1A_AtbsecCAugiviQqwKAxrMZGOeCmu6MyRfhcAIP8PHaw=w961-h302-s-no-gm?authuser=0

@c2645sg – Could it be that you read my (allegedly blocked) post on 11/11/25 pointing out your mathematical nonsense?

https://www.lse.co.uk/ShareChat.html?ShareTicker=AML&share=Aston-Martin-Lagonda&thread=EE30459A-7879-4302-802C-5D6B04F07F93

Or, did you work out the error in your maths all by yourself and have simply decided to carry on regardless without acknowledging your error, hoping that no one else noticed? Or are you really sticking by your previous £1.7m a day cash burn calculation?

- - - - -

Cheers, Paul. :)

C2645sg – 21/11/25 – Quote: “I am hearing cash raise enroute... they need to raise 200m... That's got 40-45p written all over it.”

@c2645sg – Why will this prediction be more accurate than many of your previous, inaccurate, ones? < Roll Eyes >

- - - - -

Example #1

c2645sg – 08/05/24 – “Cash raise will be under £1 for sure now, probably around 50p depending on how much they need.”

Fact - It was a £135m Private Debt Placing, not the equity cash raise ‘around 50p’ you predicted.

https://www.lse.co.uk/rns/AML/announcement-of-successful-private-debt-placing-hshq99jpjyjeiyw.html

Example #2

c2645sg – 10/07/25 – “AML raised £125m on 9th May. They are burning through a minimum of £1.25m per day... That's a MAXIMUM of 100 days. We're on day 62 already. Not long until the next cash raise.”

c2645sg – 29/07/25 – “They raised £125m in cash, and are burning through 1.25m per day, so that cash is pretty much gone. It was raised on the 9th May, and at that rate, only lasts 100 days. 100 days are just about up.”

Fact – AML only raised £52.5m in May, not £125m as you stated.

https://www.lse.co.uk/rns/AML/result-of-general-meeting-and-issue-of-equity-zrs2hdv4bmayvo9.html

Also, based on your £1.25m per day calculations, that £52.5m should have run out in June (42 days after 09/05/25).

Example #3

c2645sg - 06/10/25 - “£110m raised a few weeks ago and currently burning through 1.75m per day, that's 62 days.”

Fact – Allowing for ‘a few weeks ago’ from 06/10/25, your 62 days are already up now, aren’t they?

- - - - -

DYOR – The last AML equity cash raise saw Yew Tree buy shares at a circa 7% premium, not at a discount.

https://www.lse.co.uk/rns/AML/proposed-investment-by-yew-tree-consortium-hu2dldzy23klpai.html

DYOR – In the 3+ years since the Sep.22 RI, AML has tapped Private Investors for ‘just’ £5.25m via equity cash raises:

Aug.23 - £4m - https://www.lse.co.uk/rns/AML/result-of-equity-issue-c8j3x74zrxlapmm.html

Nov.24 - £1.25m - https://www.lse.co.uk/rns/AML/result-of-equity-issue-ds4mxytf765nwfq.html

- - - - -

Have a good day everyone, cheers, Paul. :)

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