Member Info for hxulcolrdoh

MPs brand the Financial Conduct Authority 'incompetent at best, dishonest at worst'

https://www.thisismoney.co.uk/money/markets/article-14124365/MPs-brand-Financial-Conduct-Authority-incompetent-best-dishonest-worst.html

I'm not sure they'd schedule an Q4 update / add it to the calendar.

But they have issued one in the past couple of years at the end of Jan/ start of Feb.

An amusing comedy parody but it highlights the paradigm shift that Alphawave hopes to capitalise on

Apple Reacts to Intel Crashing & Burning - https://www.youtube.com/watch?v=bxmWoAJ4b4Q

A suggestion Nihar - at the point at which you are tempted to post one of your brain dead vacuous posts - don't.

Another technology announcement

https://awavesemi.com/press-release/alphawave-semi-scales-ucie-to-64-gbps-enabling-20-tbps-mm-bandwidth-density-for-die-to-die-chiplet-connectivity/

Reminds me of a Bowerbird display

https://www.youtube.com/watch?v=1XkPeN3AWIE

Hope it all works out.

THANKS! for this information BlueRaphus.

At the moment I'm thinking that mainly there has been an investors relations breakdown that has caused the market to overreact- but who knows.

The last CFO was made to walk the plank when he wasn't on top of finances. The current CFO came in said he did a complete overhaul of systems and pledged to match available cash to cash needs.

Then we have the recent developments (an unwanted Christmas present). I do have to wonder if the current CFO as competent as I credited him to be or is there something else in the background e.g. is Tony out of control / deluded by what can be achieved and when it can be achieved.

There is little by way explanation. Also we have not heard of any of the Banais derived products shipping.

I am trying to understand the Convertible Bond fiasco and why AWE is the 4th most shorted stock on the market.

It there had been a simple capital raise then I don't believe it would have caused as much mayhem. Though I can see that it would have required larger shareholders to have deep pockets if they did not want their holding to be diluted.

The RNS info on the CBO seems to be quite vague and lacking in key information so I have some questions below. If anyone can answer any all help would be appreciated. I particularly don't understand the 'concurrent delta placement'.

A) The Offer RNS states that AWE does not receive the proceeds of the the 'concurrent delta placement' (21,040,832 existing Ordinary Shares at a price of $1.4941). Who does?

B) Are messrs "Tony Pialis, Rajeevan Mahadevan and Jonathan Rogers" reported to be putting in $20m of the $150m included ?

C) Were other major shareholders eg the Sutardja family give the option of participating on the same terms ?

D) The RNS info states that shares issued in the 'concurrent delta placement' will allow "certain subscribers of the Bonds to sell those Ordinary Shares in short sales to purchasers procured by the Joint Bookrunners in order to hedge the market risk". Who are the 'certain subscribers' ?

E) Explain how short selling would be in anyone's interest ?

F) After what date can bondholders convert debt to equity at the conversion price of $1.9423 ? The RNS info only states "If not previously converted, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 1 March 2030."

G) RNS info states that AWE can redeem all bonds on or after 22 March 2028, at par plus accrued interest under certain conditions (SP doubling the conversion price). Does this mean there is potentially a window of opportunity that can be used to avoid conversion/dilution ? ( will depend on the answer to the previous question)

On Thursday Dec 5th it was announced that JLH would step down as Executive Chair with ONE days notice. Friday Dec 6th was his last day.

TWO working days later at COB on Tuesday Dec 10th a Convertible Bond Offering was announced that included a condition (which presumably would have applied to JLH and other senior management) ...

"In the context of the Offering, the Issuer has agreed to a lock-up undertaking relating to equity and equity-related securities for a period commencing from 10 December 2024 (being the launch date) until 90 calendar days after the Closing Date for the Issuer"

In short order JLH had sold 2% of the company. Whether or not there was a breach of any rule the choreography doesn't exactly look like top drawer wholesome.

TBH if JLH stepped down on the 6th and then as an EX insider 'made hay'/sold shares before the bond issue on the 11th this would be very bad form (whatever about illegal).

I agree that evidence of revenue growth is key to rehabilitating the SP.

Thanks for the additional input BueRaphus. As you suspect I am very familiar with AWE and do monitor it's progress closely. I do have it in the "Wait For a Fat Pitch and Swing Hard" category.

I accept that along the way there will be setbacks and that things take time. I'd judge that if they haven't made it big by 2027 they've missed the boat/someone has eaten their lunch.

Last week I was confident that things are heading in the right direction and that patience is required. This week out of nowhere the SP is 30% down and my confidence is significantly dented. Further I'm inclined to think that JLH would have at least near term visibility of impending good news (if there were any). Evidenced by his indecent haste to sell I rightly or wrongly deduce that there will be a hiatus in value adding news flow for now.

BTW having read "The Everything War: Amazon’s Ruthless Quest to Own the World and Remake Corporate Power - Dana Mattioli" (recommended) I think the warrant thing sounds VERY Amazon.

THANKS! for input and shared insight BlueRaphus.

I believe it is absolutely the case that AWE's target market is in the order of > $30bn and it is absolutely the case that AWE have cutting edge expertise when it comes to developing products for this market. Further it is impressive the partner collaborations that they are able to strike up and the NRE contracts that they are able to secure.

Currently the big question is how does this translate into products that ship and how do they get from where they are now to that point.

Still it is not a good look.

Given recent developments I now ask myself when JLH at the interims said "we have worked hard in 2024 to continue to expand and strengthen the balance sheet and we will continue to do so in 2025" does he know something I don't. Maybe he just has a WiseWave sale in mind (why have we heard nothing about this?). I don't know.

Meanwhile AWE is now the 4th most shorted stock on the market.

And what can be read from the fact that he sold 2% / 15m shares in the company the first chance he got ?

In the last week I'm sure I have been invited to pursue a motor finance claim against Close Brothers on at least half a dozen occasions.

I do hold CBG. Elsewhere I also hold VANQ. There are similarities between the two regarding vehicle finance where VANQ's SP has been decimated for reasons that include

1) even though they have never participated in DCAs (Discretionary Commission Arrangements) and adhered to what they understood the rules to be there seems to be a fear that the rules could be reimagined to cast a much wider commission mayhem net.

2) REGARDLESS OF WHETHER THERE ARE VALID CLAIMS to be pursued because there is no cost/admin fee/penalty for submitting a 'claim' some CMCs (Claim Management Companies) have decided to game the system by deluging the company with inaccurate/speculative/specious claims that impose substantial administrative costs on their target. Compounding the problem and adding yet more cost they are involving the Financial Ombudsman with a view to ensuring their submissions are actioned even if they have no merit. The unregulated CMC industry seems to be like the wild west pre law and order.

My question is do we feel these two issues have been fully factored into our CBG outlook? The second in particular has had a very negative effect at VANQ when it was disclosed.

When is a publicly traded company not a publicly traded company ?

It is now OVER TWO YEARS since Savannah has traded. This is an intolerable state of affairs and should not be allowed to continue.

What can I say I'm disappointed.

I wish I knew yesterday what I know today. I do feel misled by the CFO who only 2 months ago at the interim's stated

- "We expect to be able to manage through our current investment cycle with cash on hand"

- "we're also maintaining our discipline so that we have the cash and liquidity to manage our company"

- "If I look forward to the end of this year I'd expect cash to be roughly flat or maybe $10m down for what we posted in the first half then over the course of next year cash to be maybe flat or maybe increasing slightly"

It is not clear what has prompted the need for a cash injection. A deterioration in finances ? New opportunities that have presented ?

Hi glenmorangie, there are mines and then there is the bottomless pit of despair that is the increasingly uneconomic Lesotho mine.

Yes occasionally, randomly sparkly stones may turn up. However in the last seven years when ordinary shareholders have been in receipt of $7.1m of dividends 'non controlling interests' have received $54.2m.

IMO shareholder returns will never drive the share price up. Potentially 'irrational exuberance' from retail investors who don't realise they are playing with a stacked deck might I suppose. However that doesn't seem to me to be a rational investing strategy so Freedom4Uall I am not invested here - but happy to share whatever insights / alternative perspectives I have acquired when looking at it.

DYOR

Ptr you are almost correct….

3) an acceptable plan for dealing with cowboy CMCs would also help considerably.

Personally I think claims coming from CMC's should have an admin fee that is refunded if the claim is upheld. Otherwise not.

I doubt it.

They did buy back more than they dumped in November but they are hardly exhibiting conviction in either direction.

Mark Twain's definition of a mine was something like "a hole in the ground with a liar standing next to it."

The very well remunerated management (I suspect the CEO has additional sidelines selling 'services' to the company) will keep this gig going for as long as possible even though there is probably little prospect of GEMD delivering any future value to shareholders.

Should there ever be something to distribute there is a two tier distribution system where ‘non controlling' interests have 'first dibs' and ordinary shareholders get a few token crumbs.

Retail investors would probably be better buying lottery tickets with their money.