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BigMJ - Welcome! Great news this morning and looking forward to seeing where AAAP can go!
Fingers crossed! We've all waited so long here but if patience is ultimately rewarded in the very near future then I'm sure most of us will be able to forgive and forget the tedious SP performance over the last few years!
Good luck to all and let's hope this is the turning point of Afriag and that we finally see a decent rerate here!
I like this line from the RNS:
"This is intended to be the first step of a diversification for AAAP, which the Directors believe will allow the Company to significantly grow its business"
I agree wth Optimist13 on that point, I think the SP / Market cap is so low that if even the big holders sold in their entirety it wouldn't take long for trades to cancel those out and then rise.
Also, I know a lot of LTH (including myself) have been frustrated and voiced in the past about waiting for an exit point, BUT if the tables did suddenly turn and we saw a stream of good news, a sharp increase in SP and everything looked like it was finally moving in the right direction, I wonder how many would actually sell? I don't think I would at that stage, unless the rise didn't have any substance behind it.
That's not great..... nearly 20% dilution for just £300k
This is exciting news and good to see that things are progressing quickly on the cannabis side of things. Along with the existing established businesess, and in comparison to other companies, the tiny market cap is now almost unbelievable.
Surely we must now start to see this move upwards to a more sensible valuation....
Exciting watching the accent of Sativa and Afraig starting to be promoted by DL on the cannabis side of things.
The licence tweet is really interesting and surely can only be for Afriag following the recent tweets around the tie up with LGC etc.
Could this finally be the platform that lifts Afriag up to a decent share price and market cap? I hope so. One thing is for sure is that if Sativa are valued at that price (and on NEX) then there is certainly a large inequality when comparing Afriag, who already have established (and underpriced!) areas of business outside of the cannabis sector.
Let's hope for an RNS and a LARGE rerate to finally reward the LTH's here.
Yes, it would certainly be great to see the interim report early and showing an improved margin. I think that would do the world of good for confidence here.
Thanks for the responses Optimist13. Sounds like it was a positive experience and off the back of that hopefully we will finally start to see the tide turn here after all this time. Now that would be something to make most us long termers forgive and forget the frustration of the past if that were to happen.
Optimist13,
When it was mentioned that margins on the trucking business were thin (as you say, which is absolutely evident by the financial statements), was there any indication that this was likely to change? If not, were the directors comfortable in that no further fundraising would be required?
I'm wondering whether they have priced themselves so low to gain market share, but then will struggle to raise prices/improve margins now that they have the market share, as not sure how much loyalty there would be by customers on the trucking side of things if prices were raised....
My thanks also to Optimist13 & Wolveshaveeyes for both attending and feeding back following the AGM. Very much appreciated.
Following on from Optimist13�s message earlier regarding the AGM, anyone have any idea of the percentage of votes needed against to contest the resolutions? I�m assuming with the 14% (200+ million) put forward by the directors who are recommending approval that even if everyone decided to object we�d struggle to get the majority required? Here are the resolutions, I feel action has to be taken and although I can�t attend the AGM in person I�m willing to vote in proxy against the resolutions, especially around further potential fundraising and directors allowed to set their own remuneration.... when shareholders are being treated so badly. http://library.isdx.com/infostore//Company-Accounts/AFRIAGPLC/AfriAg%20plc%20-%20AGM%20June%202018%20-%20Notice%20of%20AGM%20Circular.pdf
Optimist13, I'm on the same page as you and will be happy to vote against all resolutions if we continue to be treated with such contempt and the lack of transparency is not addressed immediately. Please keep us posted. Regards, OTD
Yet again, the lack of transparency is the thorn in our side. Revenues have risen fantastically, which is all well and good, except again the net profit % is pitiful. Where is the money going? DL always says �Reinvested to grow bigger� but there�s zero transparency to verify this and for all we know Afriag PTY good be paying out a fortune in salaries to directors. The veil of an investment company that PTY is hiding behind makes it impossible to see what�s going on behind the scenes, but you�d expect on a turnover of �14m to make more than �100k plus profit! They�d be better off selling up and sticking the money in a current account for a better return than the hassle of running a business .... something isn�t right, I agree...
MicroCap, Well let�s hope the results give us something to be positive about next week. A few of us here have been in here now for a good few years and the poor news flow, coupled with NEX has tested most investors patience to the limit. A good set of results with an indication/plan to move exchange would restore a bit of confidence here. I�m still holding all my shares here, despite coming close to selling a couple of times, and hope that mine and all other investors patience is finally rewarded in the very near future. I still think this is a great business that could be huge one day, would be nice to see that ambition reflected in the share price though!
Happy New Year to all invested here. Hopefully, 2018 is finally the year when this turns around and investors are rewarded. Saying that, the continued silence on Afriag is a bit unsettling, as we can only guess as to what the reason is..... and hopefully we don't get stuffed like the xmas turkey!
Vibhav, That's certainly a possibility and a valid point. The RNSs seemed to imply that the Nomad was the issue, but I guess a decision could have been made at an earlier stage that they would delist in the meantime and the last few weeks were a formality of that, although I would still have expected to see an update but what you say could certainly be feasible.
Hi Guys, I've been watching this closely, with interest. Been invested since Q3 last year but bailed in full about an hour before this suspension. I had full intentions of getting back in if they returned from suspension, but there were a few niggling doubts I had. If this works out with the main market then COULD be fantastic for holders, although I must admit a am very sceptical and a little dubious about this actually materialising. Firstly, why all the song and dance over a nomad and trying to (unsuccessfully) secure one if they were going down this route? Doesn't make any sense. It appears that they couldn't maintain their AIM listing, rather than out of choice. This also casts doubts over the more stringent admittance requirements of the main market as the fact that this does not look good for a couple who are charging companies for IPOs yet have been suspended several times and now delisted. Just doesn't quite add up. Anyway, I sincerely hope that it does come good for you guys who had the nerve to hold out. I've always liked the concept and potential behind it could be staggering, so good luck all and if this does get relisted elsewhere I will certainly be straight back in, fully expecting to pay a premium on the current SP. GLA
Hi, Can anybody give me a quick overview of this companies potential? I've been doing a bit of research and looking at the financials this seems to be growing rapidly. Any comments around cashflow? 2013 showing a large cashflow deficit. What are we looking at realistically in terms of expected SP here, both short and long term, any views? Any assistance appreciated. Thanks