The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Cheers Pacman - interesting thoughts. Is the Ethiopian government far sighted enough to see that a viable company with a long term plan can bring in stacks more taxes than a company which has slog through the courts to get what it is owed. They also have to take cognisance of how other companies would start to view Ethiopia as a potential investment opportunity (or otherwise). Interesting times ahead no matter what though. I'm a little bit surprised that AAI didn't suspend the share temporarily.
Any news or buzzes of news?
Is this the company killer? The legal costs alone could scupper AAI.
Done it few times recently. Bid stays the same but spread increases to show an overall rise
If you look at ADVFN, the AAI ticket is working and showing the correct SP, but also a drop of 566p and 100% I guess that is legacy from the last unfortunates who used the AAI ticker. The Naroibi exchange hasn't updated yet.
It does look like some disguised trades going on recently. Running quiet as well. A position being taken?
27m sell, over 5% of shares in issue today, no change to SP and not a delayed sell. Interesting times ahead.....although I'm not saying whether it's good or bad!
Interesting
This share is just a longer (much longer!) term hold now - I'd only fritter away any profit on nice things - now I own some cleared ground and some bottle plant plans. I reckon, in all honesty based on current plans it will be a slow drift up, knocked back by the share issue, before continuing to climb as milestones are passed in the development. The only now I think that will get the SP back to recent highs will be a takeover or RTO; unlikely at the moment imo.
26 Feb 16 http://geeskaafrika.com/2016/02/27/kenya-among-hotspots-in-africa-for-private-equity-in-2016/ "UK logistics and engineering firm Atlas Development also disclosed that it was at an advanced stage of talks with potential takeover targets in Kenya, Tanzania and Ethiopia, while Millicom acquired 85 per cent of Zanzibar’s Zantel for $1 billion"
Appointment of design consultant to advance Ethiopian bottling project Atlas (AIM, NSE: ADSS) is rapidly advancing its project to construct a new state-of-the-art glass bottling facility 45km north of Ethiopia's capital, Addis Ababa (the 'Chancho Project'), and in this context has appointed MH Engineering Plc ('MH Engineering'), a leading Ethiopian firm, to provide a full range of design services including architectural, engineering, structural, sanitary, electrical and mechanical design and quantity surveying services, in relation to the construction of the Chancho Project, which will have a yearly production capacity of 105 million 330ml bottles. MH Engineering is an independent firm offering a broad range of technical services and involved in the development of buildings, roads and transportation, engineering feasibility studies, architectural engineering, structural engineering, infrastructure projects and environmental management. Headquartered in Addis Ababa, and with the necessary structural and civil engineering skills and experience, MH Engineering has been identified by Atlas as the ideal firm to progress the design of the Chancho Project following the commencement of ground clearance works (as announced on 22 February 2016) and recent geotechnical drilling works. Chief Executive of Atlas, Carl Esprey said, "The appointment of MH Engineering so soon after our fundraising together with the commencement of ground clearing and geotechnical drilling on-site is a clear demonstration of our commitment to rapidly advance the Chancho Project into a state-of-the-art bottling facility, capable of addressing the deficit in quality domestically produced glass bottles in Ethiopia."
The twitter P&D crew have played with share before.....so I'm not getting my hopes up. Something's going on in te background though.
Stick 'em in my back pocket and wait for a couple of years or more I suppose. Cheers Hugh
Lots of big trades (sells?). Anyone left here?
So all today's trades could be buys?
I guess no news expected before Christmas?
I've never worked out the relationship between the Nairobi price and the London price but the SP in Kenya is taking a massive hammering. Down 18% today to 1.75 and approx 75% in the last few weeks? It's very volatile though so god only knows where it will be next week.
Nothing to see here. Move along.
Clearing the decks for the next phase?
Thanks Ian. Spot on