Accsys Technologies Share Discussion Threads

[dunluce] 05/8/2009 19:47

Asmodeus - apologies for the imposition but very much appreciated.

[asmodeus] 05/8/2009 17:04

Have to admit I did make a resolution never to reveal intentions to attend an AGM again, owing to the inevitable demand for reports etc.! However - will try and produce something.

[dunluce] 05/8/2009 16:31

Have decided to take a small punt today - have been monitoring this share for a long time ( having been previously in and out ). Still think the potential is huge here - but happy to hold for long term and add on further weakness ( depending on how things unfold)
Asmodeus - would be keen to hear feedback from the AGM ( If you have the time )

[hew] 04/8/2009 22:58

Asmodeus,

Well done for attending. In relation to asking questions, you may state you are asking on behalf of at least one other - me that is. Others here may add to the tally of course.

You might ask for details regarding the degree to which the Chinese licencee (Diamond Wood) is supported by Accsys financially, and with personnel (Glyn Thomas moved to Diamond from Accsys).

[asmodeus] 03/8/2009 19:13

Are any of you going to the AGM (Wednesday 19th Aug. - at 9.00 a.m.(!)

I have written to the secretary to complain about this starting time, as it looks to me suspiciously like the well-known ploy to deter shareholders from attending by choosing an inconvenient time and/or date. Anyway, I am planning to go, in spite of this, to see what sort of people are supervising the exasperating share price of this of this Company. And to ask, in person, for an explanation of the starting time.......

[ptgint] 02/7/2009 17:10

I agree HEW - and I am concerned at the increase in costs that have been incurred. Also don't like the Going Concern Note to the Accounts which won't help the share price in the short term.

[hew] 02/7/2009 08:24

My personal summary:

- fundamentals and strategy sound;
- operationally very tough and progress slow;
- to cut some costs.

[asmodeus] 02/7/2009 08:13

Preliminary reults announced this morning: * Revenue of EUR 31.2 million (2008: EUR 27.3 million)
* Significant further investment in the business to prepare for growth and future opportunities reflected in pre-tax profit of EUR 1.8 million (2008: EUR 5.4 million)
* Net profit of EUR 5.4 million (2008: EUR4.1 million)
* Earnings per share of EUR 0.035 (2008: EUR 0.027) .......

..........In 2008, shareholders received a dividend of EUR0.01 per share. Payment of a dividend is not proposed for 2009. The Board deems it prudent for the Company to protect as strong a balance sheet as possible during the economic downturn.
The Board will consider dividend payments again in the future as appropriate.

But please see full report.

[asmodeus] 01/7/2009 11:45

Never mind - I have phoned the Company, and they confirm that the warrants are not available to the market in general. Also, that the reults are still being prepared, but should be out within the next week or so. I do hope it's not going to be another case of bad figures taking longer to add up than good ones!

[asmodeus] 01/7/2009 08:07

Anybody know whether the Warrants just issued are available for any of us to buy?

[mh100] 25/6/2009 08:20

Waiting for the results to hopefully confirm all is on track.

[mh100] 18/6/2009 11:12

Pretty relentles selling today, some of it at well below the BID. Could this be SAAD investments offloading at any cost, or others bailing out before they do? Could provide an amazing opportunity if one is confident the long term growth story is still well intact.

[jebenn1] 17/6/2009 10:41

Wad, my appologies then. The point is that hardwood, if it is not sourced from unsustainable chopping down of rainforests is immensely expensive. Anyone buying garden furniture for a hundred quid who thinks it is from a friendly source is deluding themselves.
And acetylating an expensive wood would remove many of the benefits. As a very high end/niche product - perhaps, but the money for this company will lie in volume in my opinion.

Am happy to be corrected by others....

[wad collector] 17/6/2009 10:09

It is serious , I know that Accoya is used outside , but the appearance of dense grain hardwood is more attractive.If it was acetylated, it would presumably last even longer.I know it defeats the purpose of cheap softwood conversion, but maybe it would produce an unusually resilient wood product, perhaps with marine applications?Look how much "mahogany" goes on a yacht.
Just a thought.

[asmodeus] 17/6/2009 09:56

I think you'll find that Accoya is already being used for garden furniture, Wad.

[jebenn1] 17/6/2009 09:51

Mr Wad - Is that wind up or are you serious?

[wad collector] 16/6/2009 22:06

As a purist, I look down my nose at softwood furniture ; I love to get my router into solid pieces of British oak.I wonder whether the company has tried acetylation of hardwood? I cannot see anything on the websites or any of the brokers blurb, but might it not create a wood that could substitute for the kilotons of foreign tropical hardwood being imported for garden furniture?

[mh100] 16/6/2009 18:15

Thanks for the corrections to my post! Also made a few more corrctions to it based on further reading.

Also a quick google search shows SITIAIN to be right (post 1095). SAAD investments do have 8.6% of Accsys and have run into difficulties with Citibank fireselling some of its more liquid assets over the past week. Accsys may also be affected and we will just have to see how it plays out. Even if, as I hope, the results confirm the long term growth story is very much intact, the short term could be a bit rocky!

[goosegreen] 16/6/2009 17:52

MH100 - 16 Jun'09 - 10:16 - 1090 of 1095

Yes excellent news. So this month alone we learn of a distribution agrrement for a completely new product (acetylated MDF type woods) and of a 25% increase in production capacity applicable to both the Arnheim facility and licensee plants.

I don't mean to be pernickity but the increase is 33% which is even better!!!

Jon

[sitiain] 16/6/2009 13:52

one worry we have is out biggest share holder is SAAD investments who are basically in serious trouble and dumping all their liquid holdings.
while i dont wish to scare anyone , this is stopping me picking any up today.
i would imagine with this illiquid stock they will be looking for some one to take their stake.
or it will take a long while to get rid of their 15.8 million shares.
or of course this is why its not moving up, tus providing what could be a great long term extry level.

[emuphil] 16/6/2009 12:34

The Diamond Wood deal had an Upfront of 9.5m euros with further fees of 90m euros based on further develoments in project plans and regulatory approval (though the 90m reflects the 200 euro per cubic metre of nameplate capacity fees so is not on top of that).



Let's hope for some more details of the Medite deal in the results.

[mh100] 16/6/2009 11:45

A couple of corrections to tmy above post - there has been a new licensing dealwith safwood of italy for 120,000M3 and the diamond wood deal has been extended to 750,000M3 as the proactive investor article correctly (post 1091) states. Though I don't think this changes my fundamental view much.

Not sure how much the 'up front' component of these licensing deals are but if the Safwood deal brought in 120,000 euros up front then by extension such payment are not going to be materially very significant.

Also no idea when we will see revenue from the Medite deal. However, it may be a quicker route to bulk market as Medite may have the capacity to incorporate the acetylation technology into their existing MDF manufacturing facilities more readily than the Accoya licensing deals, which from what I can glean require a complete new plant to be built in China and Middle east.

Bear in mind my posts are based only on my interpreatation of the news releases from the company so please DYOR as they say!

[jebenn1] 16/6/2009 10:37

MH100 - excellent analysis/summary, big thank you.
Do we know if the fees from the China and Middle east licences have already been banked? I would assume not (certainly unlikely to be 100%) but it would be a show of confidence on behalf of the lecencee and strength on behalf of AXS if they had paid the majority of the fees up front.

Good luck to all.