Member Info for kernowken

That bounce didn't last long. Confident in this investment but it is a bit disappointing that it cannot hold any gains

That didn't last long

Still dropping. Short term profit taking I guess and who can blame them but I am holding and may even top up at these prices with that announcement

Thanks guys
A bounce would be good as even after this we are well down on when the dividend was paid at the beginning of April and I (perhaps foolishly) did an automatic reinvestment rather than taking the cash.
Onward and hopefully upward

Market certainly likes it.
I cant tell from the wording but is the £38m write down in addition to the £40m or included in it. My guess is in addition but grateful forany elucidation.
GLALTH

Any idea why the big drop?
I cant seeanything but suspect it must be to do with the dispute with HMRC?
Anyone closer to this than I am have any thoughts?

I think what mighht be causing anyone who looks at this to stay away is a day like today. Virtually no trades but on £16k of sales £12m is wiped off the market value of the company. It just does not make any sense. It was understandable when the share price was 2p but not so much now.
GLALTH

We had the Annual Report and Accounts in mid April but those did nothing for the sp. Reading past rns I can't see that any news is now due and the BOD is notoriously quiet so my guess the answer is no unless there is a deal closing which we don't know about.
Big pipleine; bigger manufacturing facilities; more people; more expenditure; debt overhang (as is usual with all biotech companies) so we await more income.
Been in this 16 years and not about to bail out but am becoming a little frutrated

Big
This is the one I use but you are right to remember that usually the sp falls by the div amount and sometimes a lot more. Payment dates vary greatly but are usually around a month later so the sp can go either way.

https://www.exdividenddate.co.uk/

Big
Yes you are. Needed to have bought yestreday to get the circa 13p but as it has dropped 15 you could argue that they have the better deal although it will of course depend where the sp is a month from now on payout day

To qualify for 100% of bonus the sp needs to rise by 63% over 3 years from a base of around 700. That suggests an expectation of 1140 in 3 years time. I must admit I would settle for that though if everything they are predicting comes off that could be on the low side. Not ramping; just trying to be optimistic after nearly 16 years in this one!

I fear you are right but they keep going and with the new management are seemingly shifting the business in a different direction and sounding confident. That means nothing of course if the bondholders, who have already taken a pasting on their equity swap, pull the plug on their remaining £500m.
Avanti is a good company for Cornwall and we need them to succeed but I know that means diddly sqat but perhaps I may get something back.

Shatter
Do the conditions attached to these awards look challenging to you?

Let's hope you are right. It will fall at least 13p becuase of the divi but from here that would hold it at around the recent lows. Agree it will not need much change in sentiment for this to change course but we are a long way from the giddy days of 1800. GLA

We go ex dividend on Thursday and normally there is a rise into it but it looks as if that may be a forlorn hope here. 700 could be on the cards.

Yep and a few more with friends and family over Easter.
It will be good not to look at this (and some of the other bosrds we are both on) for a few days.
Have a good one. Tarquin (good Cornish gin) is my favourite. Cheers

Market agrees with you Shatter. Down 3.5% on the release of the AR.
We will have to waut for the next update to see how this is moving i.e. consolidating with more contracts and income or just meandering along. Disappointing to all but day traders.

The AR refered to in today's RNS is well worht a read as it expresses confidence in the future as well as spelling out the "transformation" that has taken place in OXB. I am not quaified to understand all the technical/medical bits but it does seem to describe a platform from which OXB can expand. I know AR's are usually optimistic but after reading this one, so am I. All we need now is for others to think the same and the SP to react accordingly. This is the Financial Statement
Financial transformation
2018 has continued the financial transformation of the
Group with significant commercial achievements, and
the signing of the Bioverativ (now Sanofi), Axovant and
UK Gene Therapy Cystic Fibrosis Consortium agreements
announced in February, June and August 2018. This has
culminated in the Group achieving its first Operating
EBITDA profit and also a profit after taxation of £7.5 million.
Selected highlights are as follows: — Gross income increased by 72% over 2017, and
has now increased by 1,135% since 2013 when
the Platform division was created.
— Revenue increased by 78% over 2017, and has
now increased by 1,137% since 2013.
— Improved operational results have resulted in
Operating EBITDA, Operating EBIDA and Operating
profit being converted into profits of £13.4 million,
£15.8 million and £13.9 million respectively as opposed
to largely losses in 2017.
— Cash generated from operations of £9.2 million in 2018 far
exceeded the £1.5 million deployed in 2017 as a result of the
Bioverativ (Sanofi) and Axovant licence income received.
— The Platform segment made an Operating EBITDA profit
of £9.8 million
1
and an operating profit of £11.4 million.
The growth in gross income was largely driven by
£18.3 million worth of license income received as a result
of the Axovant and Bioverativ (Sanofi) deals, as well as
revenues generated from increased commercial
development services provided to Orchard Therapeutics,
Novartis, Bioverativ (Sanofi) and Axovant. Bioprocessing
results in 2018 increased from the prior year with all three
bioprocessing facilities running continuously during the
year and volumes 15% up in 2018. The chart opposite
shows the growth in output since 2013.
Operating costs, including Cost of Sales, grew by 28%, and
by 38% when depreciation, amortisation and share option
payments are excluded. Manpower, materials and
subcontracted costs have increased to meet increasing
customer demand, both for bioprocessing and commercial
development services, but also includes an expectation of
future growth in activities in 2019 and beyond. Headcount
rose from 321 at December 2017 to 432 at the end of 2018.
The Group has also recognised a revaluation gain of
£6 million on our equity investment in Orchard Therapeutics
after its IPO at the end of 2018. Our partnership with
Orchard Therapeutics has proven to be very successful
and has exceeded the expectations set when originally
established.

I think that is right. I reinvested my dividend at £6.64 on the basis of the earlier update and am not going to be caught again, though then we had no hint that this bad news was in the offing. Bit like Saga; normal update and them 2 months later all sorts of nasties were found. The SP dropped 40% in a few minutes there and is still dropping.

Dropping now so maybe too late already? Is it being hit with contagion from other consrtuction companies like GFRD (down 30% in a couple of days) or are there yet more fundamental problems about to surface?