Airbath Share Discussion Threads

[cb7] 11/10/2001 16:56

profits est of 1.6m, assume this is op prof, less tax say 1.1m with 26m shares, gives annual eps of 4, and expect business is evenly spread......means shareprice should be high teens just to give p/e around 4.5

[bruce the goldfish] 11/10/2001 14:03

what makes you say 2p CB7?

[cb7] 10/10/2001 15:18

CIY published 19/9, and last yrs AQG ints were on 27/10, so could be anyday now, expect eps around 2p

[bruce the goldfish] 10/10/2001 14:40

Does anyone have any idea about when we should expect ATUs interim results?

Thanx in advance

[cb7] 10/9/2001 20:24

once again most of the days sells,(and today I think thats been the most since its debut), have been snapped up towards the end of the day.......

[cossie] 05/9/2001 16:56

good rise today

[cossie] 05/9/2001 09:43

hoping its not the IC

:-)

[cb7] 05/9/2001 09:41

yep, if it got tipped somewhere, it could rise dramatically

[cossie] 05/9/2001 09:31

Only 2MM and I think they are a bit short Chris, 25K trade buy at 18p yesterday.

[chrisg] 05/9/2001 09:20

Interesting to see that a purchase of just £2.2k worth of stock this morning moves the offer up by 0.5p.

[cossie] 04/9/2001 16:45

Bit of activity today, trade buy at 18p. May see these move a bit higher tomorrow.

[chrisg] 24/8/2001 14:29

Bruce GF - I do, of course, reserve the right to change my mind! But at present, I'm just watching.

[bruce the goldfish] 23/8/2001 09:46

Well Chris I am sorry to hear that you are going to overlook ATU at the current price because you feel the upside from here will be limited. I said the same thing with a company called Theratase @ 33p after it had increased in the space of a week from 26p. You can imagine my disappointment when the shares went up to 65p within a few months, and they are still hovering around the 50p mark today. I was more than kicking myself for the one that got away then.

Bruce GF

P.S - great day for HTH today, should hopefully get a bit of press over the weekend after this weeks announcement.

[chrisg] 22/8/2001 15:39

cossie - Been a bit busy with HTH just recently, and the ATU price seems to risen since somewhat since I last looked at it. For the short-term, one could probably justify a price of something like 22p to 24p or so. At present, one can buy for 18.3p (I checked!) and if the mid price goes to, say 23p, that gives a "reward" of 25%, which looks not as attractive as the buy price of 16p against the top side of my short-term estimates at 24p, which would have yielded a 50% reward.

So I guess the answer to your question is probably negative. Not keen on buying something I know I'm going to have to watch closely to get out of at the right point in the near term. And as a long term investor, I'm still without the answers I need to make a decision. And at the present rate of share price increase, it'll be on a p/e of 6 by the time I'm ready, at which point it loses attraction against the other opportunities! Think I'll write ATU off as the one that got away.

[bruce the goldfish] 22/8/2001 14:52

Just had a look at the ATU trades since the demerger from AQG and have noticed an interesting trend. The last trade of each day has been a T (or protected) trade.

Date Trade size Price (p) Value (£)

17/08/01 100,000 15 15,000
20/08/01 10,000 16 1,600
21/08/01 20,000 18.5 3,700

I wonder if this is someone or somebodies building a sizeable stake in the firm. Possible institution? or just a private investor? - would suggest why the price has continued to head northwards. It will be interesting to see if that T trade appears at they end of today's session.


Bruce GF

[cossie] 22/8/2001 14:00

still a squeeze on these, still keen Chris??
:-)

[cossie] 21/8/2001 10:58

Looks like the market is on the bid for stock.

[bruce the goldfish] 21/8/2001 00:28

FAO ChrisG,

Have you finished your research on ATU yet because I would be very interested to hear your findings when you do.

Cheers

Bruce GF

[chrisg] 20/8/2001 17:57

Bruce GF - Thanks for that. I found the announcement you refer to (Feb 2001), and reproduce it below:

"Clive Gilham
During the five years preceding the date of his appointment, Clive Gilham was Chief Executive and before that Finance Director of Beauford plc,
the industrial ceramics group. Clive Gilham remains a non-executive director of Beauford plc.

In September 1992, simultaneously with Clive Gilham's appointment as
Group Finance Director of Beauford plc he was also appointed to the
board of directors of each subsidiary within the Beauford group,
including Dale Group plc ("Dale"). Dale was a wholly owned subsidiary
of Beauford plc which operated as an autonomous company within
the group with its own board of directors including the functions
of management, finance, sales and operations. Dale designed and
manufactured machinery principally for the mining industry and
specifically for British Coal. Following the closure of a large
proportion of UK coal mines in 1992, Dale's sales fell substantially.
Dale was placed into receivership in September 1993 and
unsecured creditors subsequently received less than a full recovery.

Save for the above, there are no details relating to Clive Gilham's
appointment to disclose under paragraph 16.4 of the Listing Rules."


So the receivership of Dale Group does not look like it was Mr Gilham's fault, and it seems he was probably powerless at the time to stop the inevitable.

It also answers the point that he could not have been responsible for the duff acquisitions made by Aquarius, and I do stand corrected.

Regards

[bruce the goldfish] 20/8/2001 17:04

ChrisG

Mr Gilham was brought in by GWB initially as an advisor to AQG to conduct an operational review of the business, with the intent of significantly improving shareholder value. He was soon after appointed to the board in his current capacity. His involvement before this in AQG affairs to my knowledge is unknown, but apparently he has got a good track record in turning round a company's fortunes as he has done at a couple of other business, which slip my mind at present, but are detailed in the announcement in which Mr Gilham was appointed to the board.

Cheers

Bruce GF

[chrisg] 20/8/2001 16:53

Bruce - My info is that Mr Gilham is moving his executive role from Aquarius to Airbath (as executive Chairman). If you are saying that there was a previous administration at Aquarius (before Mr Gilham and GWB's involvement) which did the duff acquisitions, then I am happy to stand corrected.

Cheers

[chrisg] 20/8/2001 16:36

cossie - I like CFT a lot, and came incredibly close to buying in after the recent interims. The only thing that held me back was the small NMS, and even though much bigger lumps can be bought at a time, frankly, it was a stressful time for me with builders in the house and I just couldn't be bothered. After today's fall though, I'm watching very closely again.

BTW, the only one of those I listed which isn't on my watch list is HYL.

Regards

[bruce the goldfish] 20/8/2001 16:33

Cheers Chris,

Will take a look at the few companies on a PE of 6 or thereabouts that you have suggested. An investor should always limit risk by having a balanced portfolio, and I often feel that two or three low PE stocks is always good for a portfolio rather than to be overexposed in just an individual stock.

However, I have to disagree with you on the ATU management front. I think you will find that the management that exists today is completely different to the management that made the Pine Design acquisition etc.


Regards

Bruce GF

[cossie] 20/8/2001 16:30

Chris, how do you rate CFT??

cheers
C.