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After recent support back to around 200p why the setback today? No RNS announcement ahead of this.
They are in good shape financially only thought is have they a large acquisition in mind that the market is aware of? Otherwise are their forced institutional sellers?
Encouraging to see that since my last post (15th August) Dowgate Growth has been continuing to add to its holding...... & Harwood already disclosed as on-board.
Still hoping for a maiden dividend and some news regarding Meggitt plus update on engine project in US.
Last message from Adaptix was regarding their Non-destructive testing application otherwise surprisingly absent is progress with orthopaedic particularly in the USA.
Needed soon is clarification as to whether Adaptix and Magnetica will be going it alone or more closely. There needs to be a proposed timeline with stages as to where the medical activities go from here. Are we still looking for an IPO at some point? If so when?
Hopefully they will provide comprehensive answers with the results next week.
Meantime a rather muted response from the market albeit buyers rather than sellers..
Further to my last post It would appear that an institutional investor is still selling - most likely some part of Premier Miton.
Is it 'The Diverse Income Trust' which was last reported as below 3% or some other part of Premier Miton? If neither then who?
Any thoughts please?
Surprising announcement regarding the possible acquistiion of the Adaptix equity they do not already own - by issuing new Avingtrans shares to value of £3m. Interesting development - need more info hopefully by end of next week! If it goes ahead they may need to provide the business through already underway commercialisation of it's technology with new funds.
I wonder what Simon Thompson (Investors Chronicle) will make of this?
A great product successfully marketed but so far, sadly a dismal performance when it comes to delivering the goods. It looks as though they must have cut corners as to the pre-testing If any of the new processes before introducing them into the production line. If so why?
Were the NED’s not capable of asking the right questions when they should have been doing so to protect shareholders interests?
It is not even clear to what extent the ‘new furnaces’ as ordered have had to be modified (and if so at what cost) to get any resemblance of sustainable orderly production nor whether the main issues are perhaps with the processing section immediately before the furnace.
It is difficult to know what to believe. The impression is that they are bungling along.
The latest announcement suggests that they will generate revenue of about £2m/month through the 2nd half. That would appear to be well below designed capacity.
With how much accompanying wastage along the way?
They need to get their act together.
All this is against a background where most of the ‘Special Business Resolutions’ at the recent AGM were designed to make provisions for lucrative new long term incentive & option schemes for senior management while our shares are tanking.
Magnetica (Avingtrans Medical holding) is expected to be present this week with it's niche MRI Scanner technology:-
They stated :- We shall be attending and exhibiting at the next ESSR (European Society of Musculoskeletal Radiology) annual scientific meeting.
ESSR 2023 – 30th Annual Scientific Meeting, Dates: 22nd to 24th June 2023
Location: Bilbao, Biscay, Spain
Would be interested to hear more?
There does seem to be an institutional investor still reducing there holding that has been a drag on the shares.
Thanks Lesboy for reporting 'The Times' share tip - as not all shareholders read 'The Times' though from today's reaction clearly some shrewd investors do!
Is it co-incidence that the company is presenting a belated post results update this afternoon around 3pm on the 'Investor Meets Company' forum? - and an AGM later this month.
Chatty it would appear you could be short of the shares - my earlier post 'Back of the Envelope Calculation' was just that implying around £11m could be raised at 0.4p/ new share which would clear the debt but no more than that. They probably also need some additional working capital but that might reasonably be provided by some of their existing bankers - say £3-4m or so. With that if they get the 2nd veneer line running efficiently they could soon be showing an EBITA to support a market capital of at least £20m. It ought to be clear before too long.
If they were instead able to get the maximum number of shares away at 0.5p/share that would also give them most of the Working Capital too. Am thinking that potential new shareholders might if allowed also be offered warrants as an incentive to invest at 0.5p /new share.
If the maximum number of new voting ordinary shares could be issued at 0.4p that would clear all the debt and leave a total share capital of around 4bn shares (including Non-voters). What Market Cap value should be placed on the company debt free?
At least £16m implying 0.4p a share - but more likely new investors would be hoping for £20m Market Capital implying 0.5p a share. and some near term uplift on their risk investment..
Your thoughts?
Tend to agree with both recent posters re SP have been trying to fathom it out too, I am thinking that with the Royalties in $ the strengthening of the £ v $ since January may take the some gloss off the sterling figures to be reported next. Otherwise progress with SAW is slow but should deliver well in the future. Would help to know that Meggitt sooner rather than later that was on board.
After no posts for months a sudden near 6% hike in the AMS share price today(Thursday 6th)
There was at a higher price similar volatility ahead of the Interims last September.'
Have they been tipped? I think unlikely to now be the cause.
Are they about to make a large acquisition ? Some time, but probably not quite yet.
How about take-over speculation? That could happen if the price continues much longer in the doldrums where it has been of late.
Or is it just that the shares are being accumulated in New Tax Year 2023-24 ISAs?
The latter is the prime reason is my best guess.
We may never know.!
Today (6th Jan) was the last opportunity for eligible share holders to participate in the Magnetic share purchase plan. The AVG Capital Raising general meeting of Magnetica is on 16th January. If approved AVG could end up with a holding in Magnetica of between 52% & 69%.