Share Name Share Symbol Market Type Share ISIN Share Description
Airea Plc LSE:AIEA London Ordinary Share GB0008123027 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 42.00 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
41.00 43.00 42.00 42.00 42.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 19.26 2.61 8.21 5.1 18
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.00 GBX

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Date Time Title Posts
11/10/201914:38Aeria PLC632

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Airea Daily Update: Airea Plc is listed in the Household Goods & Home Construction sector of the London Stock Exchange with ticker AIEA. The last closing price for Airea was 42p.
Airea Plc has a 4 week average price of 39.50p and a 12 week average price of 37.50p.
The 1 year high share price is 79p while the 1 year low share price is currently 37.50p.
There are currently 43,254,353 shares in issue and the average daily traded volume is 32,984 shares. The market capitalisation of Airea Plc is £18,166,828.26.
multibagger: I expect small bounces in share price to be met with some more offloading....this is an ill liquid share to make matters worse. Though there will be some initial buying in an attempt to create a floor/prop up the share price, possibly by large holders (who appear to have inherited large tranches of the equity, this is unlikely to be sustained. The cut in dividend will also make it more difficult for asset rich, cash poor large holders to buy a huge lot more. Once today's figures sink in and buying fatigue sets in this is on course to get back to the early 30s/late 20s sadly....which could interestingly attract some predatory takeover interest. I held a decent chunk of AIEA a few years ago and even attended an AGM - but sold out when I could not raise a meaningful stake (on my terms), as buying kept pushing up the share price beyond its financial fundamentals. This story has further to unfold/unravel....good luck all.
bda3490: Just read the release £2million loan to the employees trust to buy ceo shares at 72 p but the share price is now 40p so that’s a write off And £1.7 million of new debt to finance it Scandalous
multibagger: I expect every small bounce from these levels to be met with more selling...low 30s/late 20s on the cards in the next few weeks...if not earlier. A lot of unhappy large holders with AIEA share inheritances in the Wakefield area I would imagine....
pireric: Actively building a decent stake here over the past week and will continue over the coming couple. I'll try to post some numbers around what I'm thinking when done. However, share Rhomboids view that this has already laid the groundwork to be at worst a high single digit revenue growth business with modest margin expansion on top As it shows it can do that, with the level of margins it has (mid teens), I think it can easily demand a mid teens PE multiple as well, and so quite frankly I think a three digit share price is almost inevitable in due course Eric
bda3490: I still think getting market price for that volume was a good deal ! Many companies issue shares for management reward which cost nothing. Think of all that cash that could have been dividend ! Lets face it the share price only went up because JHD had a look
illiswilgig: I agree. Not ideal. A little surprised as I have been very happy with management and BoD approach until now. Perhaps there is something I've not quite seen. Aeria shares are notoriously illiquid. It strikes me that if the company had tried to buy this many shares in the market - it would have significantly increased the price - temporarily - probably above that they paid the CEO? Nice for investors - but not good for the company? Likewise, if the CEO had tried to divest so many shares directly on the market - it would likely have pushed down the share price well below the price the company has paid him, and with costs on top. Not good for investors, nor the company? Perhaps there is an argument that this is a pragmatic solution? Avoids the company overpaying, allows the CEO to divest his shares, no additional costs and hopefully minimises the impact of that on investors? Obviously I don't know why the CEO wanted or needed to sell all his shares - but I do note that he doesn't seem to be vastly overpaid? Though of course it is a very small company - but he has performed very well? So I can see he might need the capital? A lot depends upon what happens next - I am now a little nervous, when I wasn't before? cheeers
davidosh: A little more than a week ago the share price was 61p to sell and that was only for a few K shares so to get a few million away is anyones guess unless arranging a proper organised secondary placing to investors at an agreed discount so say 55p So the price could have been temporarily inflated by small buyers over the past week. Then bang the CEO manages to sell all his holding privately to the company agreed/requested presumably by the CEO for the ultimate benefit of....err probably the CEO and others.... Is that really within the regulations of quoted company law and approved by a nomad ?
illiswilgig: trident5, thats an interesting view you have of this mornings results? 'UK Sales down' Really? The company reports: 'Revenue for the year increased to £19.3m (12 months 2017: £17.8m, 18 months 2017: £26.9m) following full year sales of new products and the growth in our UK and Export business' How is that 'UK Sales down'? In a comparable period they are up. Statutory figures are compared with the previous 18 month period - caused by the change in end of FY - pro forma 12 month period is provided for comparative purposes. 'Massive inventory holding' Inventories are 6.797m a slight reduction from the previous 6.937m. I don't totally disagree with you on the level - hard to call it low? But massive? That represents about 4 months of stock at the current sales rate. Previously the company has made it clear that it builds stock in advance of product launches. But I doubt that a small company like Airea can operate a just in time manufacturing system so I don't know whether it could be halved without incurring serious risk in fulfilling growing orders especially for export? Also I note stock building in a lot of companies at the moment in advance of whatever happens at the end of this month. Stockpiling raw materials that are imported would be sensible now - and so would shipping some export product in advance to avoid any potential delays in either production or logistics next month. Renishaw appears to have built significant extra stock and sent it to Ireland where they have built a new distribution centre - just as one example. BTW - this has to be an interesting macro-issue in view of economic growth prospects in the second quarter of 2019 ?? there will be a lot of reducing inventory going on? 'Big pension charge shoved through the statement of comprehensive income' On the face of it - that's true enough. It's missing some context though. From October to Decemeber equity values plummeted. By way more than 10% - the US was more like 20%. Airea pension assets were around 39m at the end of the previous reporting period so a 1.2m decrease (plus 0.3m which is an estimate for the recent court judgement on non-discriminatory pensions). This is just a mark to market exercise - the pension does not look underfunded. A rise in the level of equities, which to some extent has already happened, will reverse this. The pension adjustment looks quite reasonable in view of the large shift in the value of equities over the period? Overall - the results look reasonably good to me. I don't expect the market to overly pleased as there are both pros and cons - but the company has net cash, an investment property, and increasing sales and profits - so further increases in sales and profits in 2019 should result in a rising share price, and a chunky dividend whilst I wait. Quite like it - a strong hold for me, cheers
illiswilgig: Might be a bid. But not necessarily. In my view Airea is still undervalued. It's a tiny and extremely illiquid share. Far too small for most insititutions to deal with. And there is little or no research available. Weakness in the share price after the results was likely due to small amounts of selling and not much buying. The results posted 3p for the first half. In the absence of research, no market expectations or knowledge of management expectations it's reasonable to assume 6p for the full year? In which case it was undervalued before and could be seen to be fair value at 60p But that ignores the growth in the first half, the new product launches, strongly rising international sales and continued cash generation. So perhaps 7p is more likely for full year? If so it's still way undervalued and any buying in quantity will pump up the share price. Just my view cheers
trigger blade: rhomboid, I wasn't looking at a chart when I said doubled in a few days, I just had a memory of it being 30p not long ago. You're clearly a long term shareholder, with an understanding of the business. My mild irritation is with instant experts like pete, who start throwing figures around with nothing to support them. I'm a small time, long term JHD shareholder and on that thread, he said the bid would need to be £1. I asked him how he'd arrived at that price and he disappeared. He's suggesting various prices on here, all currently lower than £1, as well as the ludicrous assertion that JHD need this bid to support their own share price. That's a share price that has multiplied many times in the last 30 years, as has turnover and profit. I'm constantly amazed at how JHD have become successful worldwide in a very mundane business area. The share price has dropped from its all time high, but I doubt JHD needs this bid for credibility reasons. JHD is a cautious company and I doubt they'll go all gung ho now Geoffrey Halstead's retired. Although it's a related business area, there doesn't appear on the surface to be any great synergy in terms of products and manufacturing. As a substantial buyer of raw materials, JHD might be able to squeeze some savings out of raw materials and as you said, some management cost saving too. The most obvious area of synergy is distribution, particularly overseas. JHD's distribution worldwide is strong, with a number of overseas subsidiaries against Burmatex with (I'm guessing), an Export Sales Manager, tasked with finding local distributors, whose main focus might not be on Burmatex products. Compare and contrast. The JHD website lists contact details in 77 countries. The Burmatex website says they sell in Europe, the Middle East and Far East and if you want more details, get in touch. I don't have the information, but I suspect that 30-35 years ago, JHD and AIEA (or its eventual constituent parts) were not that different in size (turnover and profit) and if JHD could transform AIEA the way it transformed its own business, that would be great for JHD shareholders and if AIEA shareholders invested the profit from a successful JHD bid, it would be great for them too! I suppose I'm assuming a cash bid, is there any possibility of a bid at least being partly in shares? I am confident that won't overpay (although I accept I don't know what that might mean). They picked the Teesside plant up for a song and I can't see them needing AIEA badly enough to get carried away with the price. We shall see. I'm going for a lie down, I haven't concentrated so much on one thing for a very long time :-)
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