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We hope so and huge benefits over radiotherapy guess we'll know soon how interested the market is. With everything we've been told you'd think the competition would be swarming all over this. A sizeable offer would provide a sense of relief but also put an end to the potential sp growth that could have been achieved through successful commercialisation under the existing ownership. Having said that I'd take 50p a share not sure the BoD would with the millions they have invested.
As always these deals including Continental due to commence in 2024 are great news but probably won't impact the sp until we see the numbers. Due to confidentiality I don't expect to see prior details however brokers forcasts might include a guidance from information they have been given. Otherwise it's a case of waiting for results as proof of orders filtering through to the bottom line. We been told H2 has picked up and we'll find out in the end of year results. If this continues into next years figures commencing 1st July and Continental orders occur in the 1st half of 2024 being H2 cpx financial year then I'd expect a serious pick up in the sp. That's what we've all been hoping for and until we see the numbers a bit more patience required maybe the 2024 half year update will be the break through news who knows.
In 6 months he'll be able to exercise 5m shares at a cost of 65.5k. Every 1p increase in the sp is worth 50k in this 1st tranche. Some people seem to think 20m options is a sign the sp will be stuck at these low levels but the gains available with a sp increasing to between 5 and 10p are not out of touch. If progress is achieved these options won't hold back the sp. I still believe this is a good appointment and ties in well with cpx's transformation into a manufacturing company gaining tier 1 automotive customers leading to a similar move with distribution customers. An experienced person at the helm for this continuing process of transformation is good news all round but we still need the numbers!
Wouldn't be surprised if this is all part of an exit strategy by the BoD and major II's. Perhaps AK also feels everything is set up perfectly now to execute the final part that will require a level of effort that he didn't want to commit the time to but is confident in the outcome to be able to take a backseat a reap the rewards through increased share ownership. It probably wasn't the initial plan but it's taken longer with covid and other areas of business such as litigation and deals like Continental having extended timescales that stepping aside now is right for all concerned. Hope it works out as we all hope and believe and the new CEO enters a rich phase of success so that we also benefit.
I'm sure you'll get a more detailed answer but basically the infringement case remains against Tesla and what it has retained of maxwell. The subsequent sale to UCAP has not affected or impacted this case as yet anyway.
Someone posted this on the other board which I thought was an excellent summary of where we are. Always seems like a waiting game but the timing of this raise under the circumstances has been very damaging.
PC01's suggestion of borrowing money some time ago when rates were rock bottom now looks like very wise words. You can easily see a major II retiring AK in favour of one of their chaps as a result of his poor decision making and having to stump up more cash. If that is the case and things genuinely are recovering these changes could be a good thing........
From the othe board:
After the missed expectations too many to mention , the CEO is probably stepping down in order to facilitate this fundraising
Whilst he is to remain a consultant to CAP-XX , it is interesting to note that he is still putting in £60/- of his own money into new placing shares so as to maintain his 2% shareholding . Being over 60 years old , and of a conservative nature , this is fairly significant , particularly as his last trade in CAP-XX shares was to sell 4.7m shares at 5.5p in August 2021 . Interestingly enough , both the Chairman and another long-term NED , also well over 60 years old , are also putting in £80/- of their own money into new placing shares , which is also significant because these two directors have been receiving shares instead of cash for their services to CAP-XX for a very long time
Another important placee is Canaccord , CAP-XX’s largest shareholder with , as of 2 days ago , 14.8% of the equity . Significantly , Canaccord is more than covering its corner in this placing , and will now be a 18% shareholder
There is little doubt that the above vote of confidence by leading players not only reflects the satisfactory trading background and the potential upside from CAP-XX's new product roadmap , but also a belief that CAP-XX has Tesla/Maxwell by the tail in its patent infringement case due to go to trial in July
On Allenby’s most recent forecasts for the year to June 2023 , CAP-XX’s revenue is expected to be A$4.9m , split A$1.6m in the first-half and A$3.3m in the second-half , and , given there is still 2 months of the second-half remaining , it is encouraging to hear CAP-XX confirm that the second-half recovery is on track . This should mean a second-half EBITDA loss of only A$0.2m against one of A$1m in the first-half . For June 2024 Allenby is forecasting revenue of A$7.9m and a positive EBITDA of A$0.34m . This is supported by an expanding sales pipeline , confirmed at US$71.6m pa in the placing RNS , and up from US$50m pa this time last year
CAP-XX’s post raise market cap is only £9.7m . This level reflects both the massive baggage of disappointment from the last several years but the uncertainty regarding litigation etc . By calendar year end we should hopefully be much the wiser .
This isn't a company with a tin pot piece of garbage product like some AIM companies that have disappeared. It has a built and working worlds first proton linear accelerator costing well over £200m and has a bucket load of patents. I'm sure the operators in this market will sit back and be happy to see a competitor pick this up from the administrator for a few 10 million. It's my opinion and could be completely wrong but on the basis what we have been told and seen in the video presentations is true the business is worth substantially more than what ****ty aim values it. This market allows for some poisonous people to make money in destroying great innovation and technology can't wait to escape.
Agreed perhaps they know this person and have full confidence in their ability to deliver. If it proves to be the case it could result in the sp getting back to a sensible level based on the expected revenue this contract alone will deliver. We've all been waiting for any deal of this kind for ages that have never materialised. If it finally does I would expect a good outcome in the sp so we will find out next year one way or another.
Looks like the placing was fully subscribed and as expected the uk retail offer not. The combination of under performance and this suspect AIM market with funds difficult to raise has resulted in a heavily discounted subscription.
I don't believe the sp reflects the assets of cpx but AIM can be brutal and retail confidence is low at the moment.
Hopefully the H2 increasing sales continues and lth's here recover some losses and maybe some move into profit. I also have a ton of these so did not participate in the retail offer but will not be surprised to see that those who took the opportunity to lower averages or those new investors buying in at this level will soon be sitting on profits while many loyal lth's have a further wait. If you read across other BB's I think you'll find AIM is a dying market for investors and whilst cpx haven't helped themselves they'd be better off somewhere else most probably via a takeover as mentioned already.
Absolutely IWTO and well said Mr Sinclair AIM is a ****e hole that destroys innovation. The sooner they list on the nasdaq the better and by the look of those increased contributions they must be confident of achieving progress.
There are a few here in the same boat I'm sure. Keep trying not to remind myself how much my shares were worth in the middle of covid when the sp was around 10 to 14p thinking that when things opened up the sp could only go one way yet here we are at just over 1p. Just going to have to be here longer than expected for an unexpected upturn which is how things seem to work on AIM. No guarantees but continued increase in orders and if Continental comes online next year and maybe positive news on court cases things could look very different in 12months time. Can't be wrong all the time can we?
We hope so and hopefully the new CEO is well connected to the auto industry to reassure Continental that their forthcoming orders are in safe hands.
A bit strange is this new appointment maybe there is more to it than we are told and if the wider economy affecting this sector continues to improve as we have been told with the increase in H2 orders this may well pick up again but the mentioned possibility of a takeover is certainly an option.
Well it does look a little negative at the moment yet they expect FY2023 results to be inline with consensus so maybe that will boost earnings. If sales keep growing with the right person at the helm who knows they certainly have the products just might finally develop the right approach to sales which seems what the announcement is mainly about.
Difficult to be sure of exactly what the reason for AK stepping down is but he still owns many shares and is participating in the fundraising. Going to be a low sp for a while but raising funds is not easy at present so will be good to get this out of the way. Recent talk of due diligence Continental would have carried out doesn't fit in with a negative view of these announcements, hopefully AK is expecting a major upturn to pay for his retirement. Looks like we'll have to hang around here for a bit longer than expected.
If it does mean an offer let's hope it sparks some interest from other parties to push the price to a fair and reasonable bid. The sp is still very depressed and doesn't reflect the level of progress we have been told so we will see..
"nicely up here now :)"
Haven't heard that here for years hope it continues to 20p and beyond for us lth's. Well done for buying at these rock bottom prices must admit at 2p I was fearing the worst for my substantial investment still can't be sure it will work out any positive news is very welcome
Thanks for the update MasterPlan I'm a lth here with a much higher average than current sp and also somewhat biased I guess. I agree with your comments about the 20p valuation and seems good fortunate to have not invested at that price. AIM is ridiculous at times not for one moment did anyone see this dropping to around 2p after achieving 230MeV. The crazyness of this market could just as well see this not only climb back to that 20p level but then go onto reach £2. Certainly not advising anyone to take a risk it may happen if it does some will make a fortune from 2p. Whilst I too would be well in profit it would be nowhere near the gain the new investors will make. As a lth you feel a little disgruntled about it and I know I could have bought at 2p but just cant justify it having already put way too much here trying to lower my average. Hope to eventually make some money here but my experience is that AIM is not for investors and rewards short term gamblers so a listing on nasdaq would be good news to me. I have holdings in other AIM shares that as soon as they provide the appropriate values I will be selling to leave this market and will only return if I feel like a short term gamble. Fingers crossed for good news here from what you've heard sound like it could be due.
If the technology works I'm sure it will be commercialised one way or another. Hopefully through a strategic partnership agreement and if via nasdaq all the better. Still can't see the likes of Siemens being happy if a competitor could pick this up for under 100m having spent 16b on acquiring Varian. For that reason alone you would think competitive bids would result in a fair price being secured which I still believe to be in the region of 300m. We don't know for sure how good the technology is and I guess there is a chance it could collapse hence the sp crashing to 2p. If the BoD haven't been completely honest about the latest progress we'll find out soon enough but they continue to put their own money on the table which leads you to believe it is as developed as stated and nearly ready for patient treatment which will be another huge endorsement.