Member Info for c2645sg

Thanks GT4.
I had it in my head as 55p too, weirdly, but reading again it was confusing with the rights issue. Most newspapers were reporting at around 18th April, after the rights issue, but it could have been a delayed announcement.

GT4, can I ask why you thought Wolff bought in at 55p please?
I can't find any links which say how much he purchased shares for.
Cheers

Rox, I am genuinely only trying to post facts, and links to show it's not my own subjective opinion.
If some people want to find fault in that, then that's their prerogative.
I'll debate facts any day of the week.

I do hold some AML shares, but have reduced like I stated on here a few days ago.
I am waiting to see the Q2 results, specifically the debt levels and more importantly the cash balance. I have a strong feeling there will be one more cash raise around August/September.
I think Stroll/Wolff etc are wise and don't invest unless they see value, but I am cautious about their intentions. No--one saw Covid coming, and it came at the worst time for AML, hence the need to shore up the balance sheet before results as I am guessing the bond holders might not have been so happy after them.
Basically, the only option left to raise cash is more dilution, I don't want to take the risk. So I am waiting for results to decide.

Rover, here's another link which states they are 'accessing' the credit line of 68m @ 12%.
Accessing, (the same wording as the FT), means they had asked bond investors for a private loan in the past, and they have now accessed it. So the money is in AML's account, hence the decrease in debt and increase in cash balance.
https://www.standard.co.uk/business/james-bond-aston-martin-shares-sales-tumble-a4480796.html

PS, for clarity....those two long posts at 19:45&48 were the FT, article pasted for Dunnie.
The FT's words, not mine, don't shoot the messenger! ;)

Dunnie, thoughts please?

33, with all due respect, it's none of your business. I don't ask you about your holding, so kindly afford me the same respect.
Everyone is free to contribute to this BB, especially when misinformation is posted.

Net debt, which climbed to £956m at the end of March, was £883m by the end of May, the group said. It had £244m of cash available.

Like all carmakers, Aston has been hit by the coronavirus pandemic, which forced the closure of its two factories and its dealerships worldwide.

The group also secured a £20m loan from the UK government because of the interruption to its business due to the virus, taking the total funding increase announced on Wednesday to about £264m.

More than 90 per cent of its showrooms have reopened, with half fully open and the rest running at reduced capacity because of social distancing.

Production operations at St Athan, which will produce the all-important DBX sport utility vehicle, have restarted, while the group has recommended testing of the Valkyrie hypercar. Deliveries of the £2.5m hypercar, the most expensive road car in British history, will now begin next year.

About a third of investors have agreed to subscribe to the share sale announced on Wednesday, which will include an element for retail investors.

Aston Martin will raise about £260m by selling new shares and tapping costly debt as the luxury carmaker seeks to fund a turnround effort launched by the carmaker’s new owner. The company will sell shares worth a fifth of the business to raise about £190m, while it will access $68m of a credit line that forces it to pay 12 per cent interest. Half of the debt repayment is in cash and half in shares, in a system called “payment in kind” that is typically only used by weaker borrowers where lenders see an elevated risk that they will not receive full cash repayments. The struggling luxury carmaker secured the high-interest notes last year, but has so far avoided drawing down on the debt package. The latest fundraising is part of a plan by new chairman Lawrence Stroll to overhaul the company that has seen him name a new chief executive and finance boss and clear out the group’s board. Mr Stroll, a Canadian billionaire with a background in luxury clothing and motor racing, led a £540m rescue deal earlier in the year, with the promise to revive the company. Its shares have sunk more than 90 per cent since listing in late 2018. The group booked a £120m loss in the three months to March, and on Wednesday Mr Stroll announced “further steps to improve financial flexibility in a period of ongoing uncertainty with this additional funding to execute the business plan”. On Wednesday, Aston said average selling prices in the second quarter would fall as it continued to offload unsold cars that were clogging up dealerships.

Sorry Dunnie, AML did draw down the 12% bonds for £68 Million, plus the placing, plus the 20m government loan for Covid.
https://www.ft.com/content/79f611e6-653c-4a30-b581-b66e54cbf231

Market makers. There are no dumb questions nw83, don't worry!

Big sells all afternoon, MMs are lowering the SP to try and get some buyers in, be wary folks....

Frankeh, tru dat!
Another thing to remember is this: The more time someone spends defending their position on a BB, the more fearful they actually are.
It's great to share ideas, but the more robust your faith is in the company, the more you can get on with your life and just let it ride upwards.

JTaylor, Agreed on Stroll.
Hence why I and others fear more dilution to raise cash. Why would he spend more money when PIs can give it to hime for free?

Rox, my thinking is....

They raised more cash because they have less chance of doing so after the results.
Bond holders are trying to shift the debt because they are doubtful the company can repay it, how would they feel lending more if the Q2 results are as shocking as we all expect?
I guess the board are thinking: Get the funds in now to tide them over, reduce the risk of trying to get them after bad results. i don't think cash levels are critical right now, but they are very low. August/September is a different story.

What is also interesting is Stroll injected some of his own cash to gain a decent stake in AML, but then used 2 dilutions in 3 months to keep the company going. No more of his cash. in fact he lent AML circa £55m to keep the lights on in with the promise it was repaid in full a few weeks later.
History is a guide to the future, and I think there will be another cash raise, I shared all my calcs recently on here and even if Q2 shows 4000 DBX sales, it's not enough profit to sustain a healthy cash balance.

I'd love WG to share the site he saw 7-9000 range? I am sure if that was out there it would have been discussed on here. If you had as many shares as WG claims, you'd be sharing that link on this BB without a shadow of a doubt.
Like I said, What can be asserted without evidence can also be dismissed without evidence.
It's funny how people go quiet when you ask them for proof of things they make up out of thin air.

Nice one Rox.
Agreed the dilutions make it slightly more difficult to value AML, but it would be difficult enough without them tbh. That's the whole point of the free market I guess!
It's brilliant to have all these different opinions too, we build our own views around everything we hear. Hence why filtering is futile, I'd encourage folks to listen to everyone.
I think the only thing any of us can say with any certainty, is it's going to be a choppy couple of weeks.
Earnings season is almost upon us, generally I mean, so much to take in from all over the globe.... :)

LeonW, ok cool, why do you think they 'chose' to raise more cash 3 months later?

Dunnie, if they raised £450m in March, and had to raise some more in June, how much cash do you think they have left now?
Genuine question.

It's the sound of more 50p placement holder bailing out.
MMs walk the price down to attract buyers to balance buys/sells.

Gamble eh?
Sorry Dimi, I thought the waves predicted all this.
No offence meant, I am not telling people to sell or buy, just pointing out how corrupt the market is.

Haha Rox, were you contrarian kicks then? ;)