Member Info for Jimbo_Jet

At least there is now money to service existing and new contracts: FROM RNS: The Company announces that, it has today entered into a loan agreement (the "Loan Agreement") with Cleitus Investments Limited ("CIL"), a wholly-owned subsidiary of the Uvenco Group in Russia ("Uvenco Group") whereby CIL shall provide the Company with a loan of £1,000,000 (the "Loan"). The Loan, which is cash-only, bears a fixed interest rate of 8% per annum on sums drawn, payable quarterly in arrears in cash, and is repayable in four equal quarterly instalments, commencing on 30 September 2019. The Loan will be used to finance the Group's working capital requirements and the Company intends to draw down the full Loan immediately. Inclusive of the above Loan, the total current facility provided to the Company by CIL is £1.43 million. Related Party Transaction CIL is a related party of the Company. CIL is a wholly-owned subsidiary of Uvenco Group which is controlled by the Belotserkovsky family with Boris Belotserkovsky, a non-executive director of the Company and a member of the Belotserkovsky concert party, acting as Chairman of the board. Sergei Kornienko, the Company's Chief Executive, is Chief Executive of the Uvenco Group. The independent directors of the Company (being the directors, with the exception of Boris Belotserkovsky and Sergei Kornienko), having consulted with the Company's nominated adviser, Stockdale Securities Limited, consider that the terms of the Loan Agreement are fair and reasonable insofar as the Company's shareholders are concerned. Audited results and Annual Report Following the change of the Company's financial year end to 31 December, the Company expects to release and publish its audited results for the nine-month period to 31 December 2016 on 30 June 2017.

I've got 2.5m from 1.15p down to 0.068p iirc. I shudder to think about the first lot I ever bought. Looking forward to an invite to potentially buy some more on relisting.

Some good news but funding is clearly still tight: 'The Company is pleased to announce that it has renewed its contract with its important NHS customer, Heart of England, for a further 5 years. Additionally, the Company has been awarded new 5-year contracts with Queen Elizabeth NHS and Milton Keynes NHS for the provision of vending machines. The Company estimates the new and renewed contracts will provide annualised revenues in the region of £550,000. The total number of machines to be installed is approximately 100, all to be fitted with media screens, cashless readers/Apple pay and telemetry. The machines will be supplied by Unicum and Westomatic and are intended to be installed in June 2017. Following installation, the Company will seek to sublease the machines, allowing the Company to secure upfront funding, to be repaid over the term of the agreement.'

The day we relist I've no doubt we'll be the highest riser on LSE. Question is how high and can it hold? ALO has a history of 'sell on news' so I hope all fellow ALO holders now see a positive future and hold on to their shares.

Boyzone, have you heard anything else recently? There's no new information out there at the moment.In someway that's good as bad news travels fast.

Here's another source on the story. Looks like things are still moving but not out of the woods yet: http://www.lse.co.uk/AllNews.asp?code=ogbp4014&headline=Uvenco_UK_Reducing_Debt_Load_Expects_To_Be_Earnings_Positive

It also says: - Uvenco UK said following the turnaround progress reported in its interim results last November, it now expects to be positive at an EBITDA level for the period, in line with management views.

http://www.stockmarketwire.com/article/5495413/Uvenko-UK-eyes-positive-in-line-EBITDA.html Have a read of this, I found this part interesting: At the end of January, Uvenko UK completed the sale of the premises at Corby. This realised £328,000 of which £240,000 has been used to reduce the borrowings, resulting in secured borrowings of £1.0m and net debt of £1.2m at 31 January 2017. Management has also engaged agents to market the Drinkmaster property at Liskeard on a sale and leaseback basis. The property would be marketed at about £625,000 and the proceeds would be used to further reduce group debt. "Management is exploring refinancing alternatives to reduce the interest cost and will update the market in due course," the company said.

Thankfully it would appear from yesterday's RNS that a £410k loan investment has landed, if cash is as tight as you say Smythy then this must be a god send. I note that the repayment of the loan can be converted in to shares at 5p which is significant for me as that is the figure a lot of the main players have invested at. Add to that the £100k investment by the three directors of November 24th at 6p a share and 200k shares issued to the CFO also at 6p in the same RNS and that's surely a vote of confidence that they believe they will find a way through the issues and the current 4p share price doldrums. I would hope that this is an end to the need for further loans/dilution and I am somewhat reassured that they have always been at 5p or 6p, as such we are currently trading below the values of the past few placements. I will be certainly be interested to see what the trading updated in early February holds. GLA

It will tell us a lot Boyzone won't it if these accounts are on time? Getting ship in order etc. I'm feeling a bit more positive about these result now that £1.4m of debt has been wiped of the books, one would image that the debt repayments on the remaining £1m are a lot less than the original £2.4m.

I can understand your feelings Boyzone but my impression is that this time it might be different. If I understand the last RNS correctly, it would appear that UVEN have somehow managed to pay off it's existing £2.4m bank debt with just £1m in cash lent by the new lender. That's £1.4m of debt which has just vanished off UVEN's accounts, that's stunning when you think about it. Here are some links below I found about it: http://www.insidermedia.com/insider/yorkshire/reward-backs-vending-machine-group-restructure http://www.digitallook.com/news/small-caps-news/uvenco-uk-enters-into-new-debt-facility-agreement--1668784.html https://bdaily.co.uk/industrials/15-08-2016/leeds-reward-finance-group-provides-funds-for-uvenco-in-debt-forgiveness-deal/

Nice to see some buys for a change :) Guess the news of that debt restructuring is filtering through now.

Morning Cook! Good to see you're still around. From what Boyzone has said and the earlier EBITAD warning I would agree that the immediate future looks uncertain at the moment.. What's your thought on where we are heading?

Thanks Boyzone, any information is much appreciated and like you say the recent developments are a little concerning to say the least - it doesn't sound like we have the steady ship we need yet. Likewise, I do wonder where everyone else has gone? What happened to Cookaburrow and Coffeewatch?

Oh great :-/ any idea why he is jumping ship to one of UVEN's rivals? Really don't like the sound of that. Thanks for doing some digging Boyzone it's appreciated. But with this and the earlier EBITAD warning I'm now worried about next month's results. Could be a bumpy ride.

I only came across it by accident while googling UVEN the other day. Think we have results due next month at some point so we may have to expect a bump ride when that one lands, hopefully it will be short lived.

Just came across this EBITAD warning, has anyone else seen this or go any comments?: http://www.digitallook.com/news/aim-bulletin/uvenco-warns-on-exceptional-costs--1637896.html 'Uvenco issued a warning to the market on Friday, that some costs in its accounts for the year to 31 March might have more of an impact than first thought. The AIM-traded firm said that costs that had previously been categorised as exceptional items and stricter accounting policy interpretations may now increase expected overhead expenditure. “Whilst this will impact EBITDA for the year ended 31 March 2016, the results are expected to remain considerably ahead of FY15,” Uvenco’s board said in a statement. “For the current financial year EBITDA improvement has continued over the first quarter,” it added. Uvenco said the audit process is progressing and it expects to announce its audited final results for the year ended 31 March 2016 towards the end of September, when a further update on trading will also be provided.'

Even though the 'price' is now 7p you just try buying for anything less than 9p! If I could get close to the 7p price I would buy some more but certainly not at 9p.

Hurrah, I'm not alone here! I think we're going to be stuck at this price for a loooong time, if we dip I might top-up but the spread is ridiculous at the moment.

Amongst the current deluge of posts I hope everyone sees this, but we have a new Uvenco page to call home now: http://www.lse.co.uk/ShareChat.asp?ShareTicker=UVEN