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Avingtrans Share Discussion Threads
Showing 2551 to 2575 of 2575 messages
|3m3 box plant
|DOH! Thanks, missed that small but rather significant fact!!
They have been!
|I take it that nobody knos when the shares will be cancelled??|
|I've received my cash for my tendered shares yesterday via AJ Bell. I took 100% off the table and good luck all on this board for the future. Regards|
|They did state that the divi is payable on the tendered shares.
Brokers should be receiving the tender funds about now, so transactions will appear in accounts soon (I hope).|
|Anyone know when these tendered shares will be cancelled?|
|That's my understanding, I don't see how they can do anything else, especially as the offer price was calculated relative to the market price which included the forthcoming dividend.
They should really have specified it for clarity given how close the dates are.
If we don't get the dividend on the tendered shares I'll be shouting about it, but I am sure we will.|
|One other point of clarification regarding the 2.2p final dividend payable on 9 December.
The ex Div date is 28 October and the effective date for tendering shares was 3 November , so tenderers should get the dividend?|
|Thanks for the clarification Brian, good to meet up once again.|
|DGW, thanks for the write-up.
One point I checked when I got home was that they had previously intended to return £28m, leaving £20m in the business. Demand for cash was low, so they returned just under £20m, leaving £28m. They clarified at the meeting that they did not intend to return further cash.|
|Tks from me too DG and impressed they gave you and the one other shareholder so much time|
|Again, thank you DG.|
|Thank you very much for the review DG.|
|Thank you DG very interesting reading, I'm fascinated to see what they've got lined up as their first newco deal|
|Thanks DG - very useful summary. Thanks for taking the time to attend and post.|
|Sincere apologies for the delayed report on yesterdays AGM due to lap top problems now resolved!
There were just two shareholders – myself and Brian Gee – along with the Board to hear a somewhat muted report compared to previous years due to things now being in a state of “flux” following the sale of the Aerospace division and the progressive build up of the Energy &Medical unit.
The Chairman as usual quickly despatched the official part of the event stating as he did so the results of the take up of the share buy back declaring that not all of the available amount had been tendered. The share holding of himself and Nigel Wray had been reduced to reflect the result pro rata. In respect of what use the monies available for the outstanding shares not taken up would be put was not mentioned.
Steve McQuillan – CEO – then took over, to give a run down of the current state of play with regard to the Energy & Medical divisions and their current status.
The progress of the 3M3 boxes for Sellafield is ongoing with the pre production examples now having been constructed and passed inspection by the Sellafield authority and they are now working towards the production examples that will take just about most of the next Calendar before manufacture in volume rapms up in the beginning of 2018. The manufacturing site has the capacity to expand to possibly two or three times current anticipated production should this be required principally because there are other such requirements in Europe that whilst not the same as the Sellafield design, the ability to manufacture the alternative structures is well within the Metalcraft capability. In regard to this European possibility the Board feel that given the Brexit situation they may well obtain a company in Europe in order to access this market but time will dictate the steps required.
The Board themselves are currently looking to search out possible acquisitions that may be able to enhance the Company prospects for the future and stress there is nothing on the horizon as yet and they have no preconceived ideas at the size of any possible acquisition, indeed if the intended acquisition is big enough to warrant it in the future they would not be averse to a fund raising by the issue of shares – he stressed if this becomes the situation not wishing to be seen as strange talking of more shares to be issued whilst buying back at the current time! As previously stated they are not in any hurry and will not overpay. Metalcraft recently won a top industry award with the Nuclear Decommissioning Authority that pleased the Board immensely explaining that whilst there was no cash involved the raising of the Company profile within the industry pointed to the fact they were the Company to be contacted in certain areas of expertise. They are looking to tender for work that will arise once Hinckley C gets into its stride but that is probably more than 2-3 years away whilst the concrete is poured and set! They are also busy with items previously supplied from the Maloney inventory such as the Nuclear valves required by various EDF sites as well as other equipment.
In respect of the MRI scanner manufacture there are now three companies in China for whom they are manufacturing equipment albeit on a small scale at the present time but see good opportunities following the Rapiscan order that is also involving the composite division, most major airports will be required to have the capability to rapidly scan hold baggage in order to maintain the efficiency of baggage handling in various forms.
The Future Engineering Technology project is ongoing this is being undertaken by Crown and there is a possibility of further projects based on the equipment thus developed That may have alternative applications within the carbon capture environment.
To conclude, very much a case of “wait and see”one has to say it was very much a reduced agenda given half of the Company – aerospace – is no longer included but I did get the sense that the Board feels there are significant opportunities within the fields in which they operate and to that end will make acquisitions they feel could enhance their capability in any niche market they serve. It was also the final meeting of the longest serving NED Jeremy Hamer who was with the company in its previous form before it became a cash shell from which Avingtrans evolved. I have known him for many years having met up in a previous company and I was sad to see him retire from the Board.|
|Be interested to hear from anyone who made the AGM...I see the RNS with the outcome was issued at 1245 but on the website there was no news of when it started.|
|What's the company going to do with the other £8.6 million it's got spare and said that it would return to shareholders. Special divi?|
|Good news, all tenders accepted, so that's most of mine gone:
"Under the Tender Offer, 9,691,361 Ordinary Shares were validly tendered and 9,691,361 Ordinary Shares will be purchased at a price per Ordinary Share of 200p, for an aggregate purchase price of GBP19.4 million. The Ordinary Shares to be purchased under the Tender Offer represent approximately 35 per cent. of the Company's issued ordinary share capital."
£28m was on offer so about 70% take up.|
|Anyone going to the AGM on Tuesday?|
|I'm holding all mine , sometimes a leap of faith pays off in style, the way that they assembled and sold the aviation division was very impressive and I'm fascinated to see how they develop from here|
|I haven't tendered any of mine.|
|My guess is the opposite of yours, I think take-up will be high. I have tendered all of mine.
I expect to be scaled well back in accordance with the terms.|
|Anyone going to the AGM in Birmingham on the 8th? I will not be tendering any of my shares and my guess is the overall take up may be quite low, any other thoughts?|