Member Info for poole

Shares are motoring - would be nice to have a positive statement accompanying the AGM.

Are Dowgate (Recently 8% )still buying?

NEWS UPDATE: AVINGTRANS MEDICAL ACTIVITIES (Magnetica & Adaptix together!)

Magnetica Limited

Chicago or bust! Our team is in the air and preparing to converge on Radiological Society of North America (RSNA) 2023 in Chicago in just a few days!

We would love for you to drop by our booth to enjoy some treats and chat about our much-anticipated high-field MSK extremity MRI system. Our prototype system has travelled all the way from Australia and will be available to view from day 1 of the exhibition.

We will be alongside our friends from Adaptix Ltd, and you can visit us at booth number 3141.

Found it impossible to join Zoom meeting - were we meant to have been supplied with an ID? Tried to contact Hardman but they don't seem to have a phone number!

Why on earth did they send out their report today just ahead of the proposed meeting rather than a day before?

As regards the report very little that is of any real help as to the production problems and whether they have been permanently solved. I am now wondering what the company had to say at the meeting about the issues. It is still not clear whether the main furnace issues are in Stage 3 or Stage 4. The website refers to 'furnace' at Stage 4 but all the earlier stuff was about relining the graphite which would suggest Stage 3 albeit is not described by them as a furnace. Perhaps it is problems with both? Hopeless communications with shareholders.

The NED's have badly let shareholders down as they have access to any information they needed but seemingly never asked the right questions when they should have done. They deserve the boot.

This was compounded by executive and senior management apparently being out of their depth as to the feasibility of and the management of the process of untested technical change in their manufacturing process.

At this price circa 15p they may well be able to raise new money but they may l need to be much more convincing than of late that they do actually have a firm hand on matters. The alternative is a bid from some source that can deliver the goods and as a shareholder one can only hope if it gets to that state that there are more than one interested parties.

On this forum there is plenty of discussion about order book and new capacity building plans. The share price however will be nowhere near where it ought to be until it is clear that the present manufacturing process is under control and able to produce at its intended output without lots of poor quality or wastage at the same time. I need some convincing that they now have a process that if scaled -up the new equipment will be reliable. If they don't then how do they know with lead times what equipment to order? For me the reports on getting on top of manufacturing issues have been vague - and insufficient in relation to what is needed to provide assurances. I have noted that they suggest that customers are sufficiently assured as to progress on some of these matters. Is it not overdue that shareholders were also similarly kept in touch?

Recent Announcement (see link below) worth looking at regarding the use of the Transense Surface Acoustic Wave (SAW) technology as having been accepted by the US Army for use in their T901 engines. This suggests possible follow- on from only use with helicopters.

https://www.army.mil/article/270499/first_t901_engine_accepted_by_the_army_for_future_attack_reconnaissance_aircraft

Responding to recent postings(by Guitarsolo & Fevertreeman).

Not long after I acquired as a long term investment in SCE shares in early 2022 I attended a Capital Markets Day at the company's HQ & factory in Knowsley i April 2022.

As a chartered Chemical Engineer with some experience with furnaces early in my career I was particularly interested to learn about the production process as a whole but had some concerns about the change that was planned for the production process and at the open meeting I asked management whether the feasibility of the new process would be tested prior to installing it on-site as I thought it ought to be. I recall clearly that idea was quickly Poo-pooed and passed over. I much regret now that I was perhaps too polite in not questioning their response.

It led me on a subsequent occasion when problems with the new process became evident to outsiders to contact the CEO personally by email to be informed on his behalf by a colleague of his that I be would be getting the CEO's response. None was forthcoming. Again I should have followed it up but did not.

The damage to reputation is now evident and It appears that no one outside the company (except possibly the sellers who meantime maybe helped by leakage of information have driven the share price down) reliably yet knows what is going on. I could put it more bluntly but it is about time we did.

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..

Encouraging to see some follow-up buying to recent interest generated by the 'TIP'. Hoping now that we will see it through the 100p barrier. Even better if they were to announce intention to pay a maiden dividend.

Seemingly suddenly lots of buying interest today - any thoughts please as to why?.....Have they been tipped? ......and If so by whom?

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?

Encouraging across the board - Royalty Payment due soon bodes well for the current year. Look forward to the Prelims and hopefully the usual' Presentation' to accompany them. About time to announce a first Dividend?

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.

The stagnant share price is puzzling - it is behaving as if the production issues have not been fully resolved. I hope that is not the case.

Any alternative view?

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.