Member Info for laguerre

A bit pointless repeating them verbatim on the board here . . ..To see them just click on 'AVN, Live RNS' above! It doesn't take much to understand them, and after all it represents ALL that CASH you have invested . . SO MAKE THE EFFORT!! Briefly RNS 4373G at 1447 Announcing a General Meeting on 16 March 2018 see RNS for details. RNS 4542 at 1640hrs 2018 first half results - mentions compensation for late delivery of Hylas 4 ! . . interesting and informative reading . . . . for the literate few amongst us![:-o)

Yes GCCRa, I mentioned that back in December and others probably since. Earlier today posters wrote about the SP and the expected share dilution, seeming to imply wariness, the post responded to that.

It would be a very daft stock market if the 'extra' share dilution is not already built into the current price, it is after all vis a vis exchange of the 'current debt holders' etc etc. So extremely unlikely the share price will be affected, certainly downwards, there may even be a marginal increase - signifying 'satisfaction' that the 'exchange' is succeeded! But just IMHO

GCCRa - watch it OK, but check this report from the 'Independent' by journo Alain de Botton invited on-site to watch an earlier Ariane launch in 2009 . . . for added flavour, including tales of France's historic local off shore 'Devils Island'. prison! http://www.independent.co.uk/travel/americas/french-guiana-out-of-this-world-1670291.html

This light hearted post is aimed at the intellectuals . . thus ruling out 99% of viewers!! . . However if you feel the 1% includes YOU - then read on, if not, no hard feelings please carry on cuddling your dolly's and happily playing tea parties! 'Avanti' is an Italian word meaning basically 'forwards, onward and upwards', so appropriate that it should be chosen for AVN. It is also frequently shouted by bicycle fans as encouragement to participants in the Giro or, Tour of Italy 3 week Cycle Race. In the early '60s American car maker 'Studebaker' produced a low volume, performance sports car and named it . . . 'Avanti'! Since then the US motorcar industry has been through colossal problems with motor car factories closing, and city populations decimated. However In various guises, the 'Avanti' name prevailed into the 21 st century. Now in no way do I suggest a parallel with 'AVN Tech', who I support with real money, but it's history on Wikipedia makes interesting reading, which you may enjoy reading and which I sincerely hope bears no relation to AVN's current or future situation.

MTB ewe hay vent tort yaw new puppy two reed? On second thoughts, leave it be, 'fools tread . . . .'.gives others much needed light relief from the boar dumb of ewer yawn yawn irrelevances! Butt sorry too sea yew still purr sis sting hear, have ewe no home two go 2 ether?

Deer Ramoron, Eye sea ewe fore goatee cheque ewer post bee four send ding! No one dare ewer mess sage wars sew diffy cult two reed. Shore lea when aye sending and dee sending, aye bail lawn wood bee haze ere dust two ere line airs ate 450 mph?

Thanks for the assurances GCCRa a positive attitude is always welcome, even if there is a certain lack of substance. I watched a repeat of the 'Concorde Story' on TV, not quite a simile for AVN, but Concorde's experiences have certain similarities. Initial escalating costs [debts], offset by early ebullience in sales, which dwindled to a '5 - a - side' between BA and Air France. Often ' half the fleet' was on the ground with no where to go - unacceptable smoky engines and double sound barrier bangs - losing £10m pa, this in the '70s/ '80s' 40 years ago! The entire marketing efforts of both Airlines took 10 - 15 years before they eventually and possibly accidentally, seized upon their profitable, 'craft filling passenger base' - Charter Flights! Very thought provoking IMHO. Hopefully AVN won't take as long to find it's 'passenger' base . . and beat my 'telegram'?

. . . finds MM's in an unusually expansive mood . . "early 'cows' to pasture 'unmilked' "!. Wishing all readers a Happy and more Prosperous New Year than this one!

. . . but many people don't know which is left or right, so be careful taking directions as they could be right or wrong. A priest will say rites over a couple being married and it is right he should. Everyone has rights, and you have the right to challenge when your rights are ignored, and it is right you do, but write in triplicate and keep a copy yourself! IYCMD

As HeadinTheSand pointed out, the RNS makes it clear the 'debt for cash' is a proposal and has yet to be accepted by all involved. Once accepted, approval will be required from shareholders, I paraphrase, see below and RNS! The RNS also proposes taking steps to avoid the leading shareholder post 'debt for cash' agreement, SOLUS holding 41.5% of the 'Enlarged Share Capital', 'being required to make a general offer for the existing issued share capital not already held', and referred to the Takeover Panel for approval. Once agreed an AGM will be held in the first quarter of 2018 for shareholders to approve the Companies actions. Please see RNS dated 13 Dec, 'Summary of the Restructuring' . . for complete details.

Probably $550m is the face value of the debt which will be trading on the mkt at the value 'perhaps' of the equity exchange. Walsh has probably said to bond holders, I need more money one way I can achieve this with out asking for more is for me to give you equity in return for your diminishing value bonds, that way we both win, I have less interest to pay, which gives me more capital. That helps the company grow quicker enhancing your share's value, it's very 'Williams'. I'm not sure this will immediately affect the SP to any great extent.

I don't know why there's a double print, not me! Please excuse.

The bond holders do show considerable faith in the company albeit for a virtual takeover in offering to pay $550m for uncirculated equity valued at $150m. The extra is the 'unloaded' debt reducing annual outgoings to $40m, a 'saving' to the Company of $130m [£100m]every year! I doubt we shall see a dividend as such, but hopefully the SP will begin a move in the right direction . . . though at close full agreement hadn't been reached, according to the report! The deal will certainly draw attention to AVN with an apparent Company 'revaluation' from circa $176m* at close, to $600m, 'all things being equal'! [ie * If 7.5% = £10m or $13,2m ; 1% = $1.76m; 100% = $176m, assuming $150m equity = 92.5% of total! The mother of all deals for Walsh, and further savings in the pipeline, AVN takes a couple of steps forward. Debt remains a factor even though it may have been reduced by over 75%, there is still $40m per year interest payable. My interpretation.

The bond holders do show considerable faith in the company albeit for a virtual takeover in offering to pay $550m for uncirculated equity valued at $150m. The extra is the 'unloaded' debt reducing annual outgoings to $40m, a 'saving' to the Company of $130m [£100m]every year! I doubt we shall see a dividend as such, but hopefully the SP will begin a move in the right direction . . . though at close full agreement hadn't been reached, according to the report! The deal will certainly draw attention to AVN with an apparent Company 'revaluation' from circa $176m* at close, to $600m, 'all things being equal'! [ie * If 7.5% = £10m or $13,2m ; 1% = $1.76m; 100% = $176m, assuming $150m equity = 92.5% of total! The mother of all deals for Walsh, and further savings in the pipeline, AVN takes a couple of steps forward. Debt remains a factor even though it may have been reduced by over 75%, there is still $40m per year interest payable. My interpretation.

Ditto, dated 16 th November!! A question of wait and see what happens now!

Best advice, If you are uncertain, suggest you measure it, if it's twelve inches, its definitely a foot!

Not Sure if the +6m who bottled before final close remain on the register, I doubt it. But if they judged the risk too great that the deal would go pear shaped and it does, they will have done the right thing. Yes, little toes too.

Very interesting - still buyers with NO future profit expectation from SP rise . . crossing fingers for an Apple cough up? 'Nice' from that viewpoint - yes, ALL late buyers are on the shareholder register! With +257m IMG shares in issue*, maybe in future you know who will pause for thought before again acting precipitously, maybe not! Yes, GLA, happy future boarding, keep everything crossed, and 'i's dotted ! [:-) The Fat lady is waiting in the wings . . *I wonder how a payout, if it happens will work as not all 257m shares are owned by investors?

Not to be too cynical, but as Miss CK reortedly said, 'He would say that wouldn't he!' . . . on the 24th July D Tele reported 'Andrew Heath would be in line for �2.8 m payout from the deal.' . . . ! and 'Ex CEO Sir HY at �1.82 per share will receive �365,980, for his holding should the offer succeed!'.