Anexo Share Discussion Threads

[tole] 11/8/2020 12:50

From their finals in June they state they had about 8000 VW cases but this number is expected to grow..VW Emissions CaseA specialist team within the Group's Legal Services division is acting on behalf of a number of individuals who have registered their intention to pursue a claim against Volkswagen AG ("VW") and its subsidiaries (the "VW Emissions case"). The Group is currently actively engaged on approximately 8,000 cases following a limited marketing campaign in late 2019 which was predominantly conducted through social media channels, the costs of which have been written off as incurred.The Board believes that, in the event of a settlement, the percentage of potential damages and associated costs accruing to the Group would have a significant positive impact on the Group's expectations for profits and cash flow for the relevant accounting period. Any revenue from a settlement would be unlikely to accrue until FY2021 at the earliest. There is no certainty that a settlement in favour of the Group's clients will be reached, nor is there any guarantee that such a settlement would include financial compensation. The Board believes that there is an opportunity to increase significantly the number of claims handled through investment in a further targeted marketing campaign, as well as additional staff to process these leads, which would lead to a significantly larger return in the event of a successful settlement. Further investment is planned in 2020 to enhance the number of clients for whom the Group is engaged.

[jaf111] 11/8/2020 08:40

Good question ronwilkes123 which I cannot answer!
But what I will say is that the share price, despite the recent rise, is only back to the level it was in April when the initial High Court Judgment was announced.
IMHO the upside is significant....

[ronwilkes123] 11/8/2020 08:02

How much could it add to the sp

[tole] 11/8/2020 08:01

@AnexoPLC's legal services division Bond Turner is delighted that The Court of Appeal has refused Volkswagen permission to appeal the decision that it tried to cheat clean air regulations. This decision is hugely significant to the legal action case. $ANXUpdate on their Twitter.

[jaf111] 11/8/2020 06:35

Surely excellent news....(background see 8 April RNS)....maybe partly explains move up yesterday...



Would expect company to comment further on this Thursday....

[jaf111] 10/8/2020 08:08

A lovely upward curve developing here....
Interims Thursday
Assuming all as expected see this as short term trading range 140 to 180p so should be plenty more to come

[ronwilkes123] 07/8/2020 10:24

Highest buyer so far today is me This is way too low

[jaf111] 07/8/2020 09:10

Looks like its turning up.....hopefully on some "shrewd" pre results buying?

[jaf111] 06/8/2020 08:17

Surprised by recent drift down in price....now below 125p placing in May.
Interims due later this month which may provide a catalyst for a change.

[tole] 29/6/2020 16:04

Solid foundations in placeAnexo, the specialist integrated credit-hire and legal services business, has reported a record performance for FY 19 with numbers in line with previous guidance. The year saw good cash generation following the decision to focus on the Legal Services business while holding back growth of the Credit Hire business. A 0.5p final dividend strikes a balance between cash conservation and confidence in the outlook for the Group in uncertain times. Given the impact of COVID-19 on the wider operating environment, we think that the key focus should be on the Group's current positioning and its preparedness to operate in the evolving business environment. Although there is no update on guidance for estimates, we believe that the business is well-placed – particularly since the recent £7.5 million fundraise which underpinned the Group's options to accelerate growth without diminishing existing cash resources.https://bdadvanced.ipreo.com/OpenFileLink.aspx?ID1=a6ffef3a-24e5-4034-970b-a72fd8d75b84&ID2=633121252

[tole] 01/6/2020 16:58

Placing to support growth opportunitiesAnexo has placed 6 million new shares at a price of 125p to raise approximately £7.5 million before expenses. In addition, three senior members of the management team have sold 2.8 million shares at the same price. The placing and the team's sales represent 5.5% and 2.55% respectively of the Group's existing capital. The net proceeds from the primary placing will be used to expand the advocacy and specialist litigation team, headed by Executive Chairman, Alan Sellers, with specific emphasis on funding the acquisition and processing of VW emissions cases. It will also continue recruitment in the legal services business and increase the fleet size. The placing will also support small opportunistic acquisitions. A brief trading update reveals that, although new case numbers were impacted by fewer cars on the road in the early stages of lockdown (and have subsequently recovered steadily), this was mitigated by longer hire periods. Anexo continued to be cash generative in the first four months of 2020 and retains a positive outlook.https://bdadvanced.ipreo.com/OpenFileLink.aspx?ID1=301c12fb-dce9-4f22-9fe1-323ef1e8da3c&ID2=627848116

[74tom] 29/5/2020 06:26

Placing at £1.25, dilution of only 5.5% so not a big issue, and worth the investment if they can double the number of VW claimants on the books...

[74tom] 26/5/2020 09:16

Bought in this morning having watched for a long while - the VW news in Germany this weekend was very positive & this is one of the few shares yet to recover from the Covid induced plummet at the end of March. Little reason this shouldn't recoved to 170 + quite quickly. Also worth noting that Finncap had a £3.45 target price prior to guidance being withdrawn & that this didn't include anything for the potential VW settlement...

[tole] 26/5/2020 08:42

Have been adding to my holding here

[tole] 26/5/2020 08:41

https://insurance-edge.net/2020/04/08/anexo-group-update-on-vw-emissions-claims-possible-3k-settlements/

[tole] 26/5/2020 08:40

Anexo hoping for VW class action boost to profitsBy Gazette reporter8 April 2020Save articleShares in Anexo Group climbed 13% in early trading after the listed credit hire and legal services business disclosed that it could profit from the high-profile VW emissions case.On Monday this week, Mr Justice Waksman delivered a preliminary ruling that VW subverted key air pollution tests by using special software to reduce emissions of nitrous oxides under test conditions. The High Court judgment applies not only to VW cars, but also to those manufactured by Audi, SEAT and Skoda. VW is considering an appeal.Anexo's legal services division, Bond Turner, is handling about 8,000 potential claims against VW, a number which the company expects to rise following publicity surrounding the ruling.VwlogoVW logoSource: Jeff Blackler/REX Shutterstock Gazette Website Advert 300x125 Insight LegalIn an announcement to the stock exchange, Anexo notes that VW has settled actions in a number of jurisdictions, with wide variations in damages. In the event of a settlement, Bond Turner would be entitled to claim a percentage of any damages awarded to each of its clients, as well as legal costs. This could have a 'significant positive impact on the group's expectations for profits and cash flow', it said.Anexo added that it is in 'advanced discussions' with a potential lender to fund associated working capital for the VW cases.A 20-year-old business founded by barrister Alan Sellers, Anexo floated on the AIM junior market in 2018.

[tole] 26/5/2020 08:37

https://www.euronews.com/2020/05/25/germany-s-top-court-to-rule-on-dieselgate-compensation-claim

[ron manager] 08/4/2020 06:54

Progressive note on IR site at hxxps://www.anexo-group.com/content/investors/analyst-research

DYOR

Ron

[tole] 03/4/2020 06:23

Progressive update this morningCash remains kingAnexo's trading update confirms that FY 2019E adjusted PBT will be in line with market expectations but that forward guidance is withdrawn given the current uncertainty over COVID-19 – although trading so far in FY-2020 looks relatively unaffected. Accordingly, we make no changes to our FY 2019E numbers and withdraw those for future years until the outlook is clearer. The timing of the FY 2019E results announcement will be confirmed in due course. Like others, Anexo is taking measures to preserve cash. Crucially, it continues to operate as an essential business under the current government restrictions. Staff are following the appropriate guidelines while providing a service to many key workers. Obviously, there is uncertainty over the long term impact of COVID-19 and therefore the focus on collections remains vital. In our view, the group remains in a strong position to drive cash out of its backlog of cases without necessarily committing further new working capital.