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AEP Anglo-eastern Plantations Plc

0.00 (0.0%)
Last Updated: 13:33:27
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Anglo-eastern Plantations Plc LSE:AEP London Ordinary Share GB0000365774 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 698.00 0.00 13:33:27
Bid Price Offer Price High Price Low Price Open Price
690.00 698.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Shortng,oils,margarine, Nec USD 456.93M USD 79.64M USD 2.0094 3.47 276.66M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:44:27 O 15 698.00 GBX

Anglo-eastern Plantations (AEP) Latest News (1)

Anglo-eastern Plantations (AEP) Discussions and Chat

Anglo-eastern Plantations Forums and Chat

Date Time Title Posts
29/11/202306:37Anglo Eastern Plantations--oil my palms?1,945
12/6/200215:39Anglo Eastern Looks Dire18
11/4/200215:02Anglo Eastern Plantations Not so Dire17

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Anglo-eastern Plantations (AEP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-11-28 16:35:23698.001,1788,222.44UT
2023-11-28 16:30:51695.001,82812,704.60O
2023-11-28 16:01:49697.5074516.15O

Anglo-eastern Plantations (AEP) Top Chat Posts

Top Posts
Posted at 29/11/2023 08:20 by Anglo-eastern Plantations Daily Update
Anglo-eastern Plantations Plc is listed in the Shortng,oils,margarine, Nec sector of the London Stock Exchange with ticker AEP. The last closing price for Anglo-eastern Plantations was 698p.
Anglo-eastern Plantations currently has 39,636,372 shares in issue. The market capitalisation of Anglo-eastern Plantations is £276,661,877.
Anglo-eastern Plantations has a price to earnings ratio (PE ratio) of 3.47.
This morning AEP shares opened at -
Posted at 25/8/2023 08:30 by jon4567
My main concern over the last few years with AEP was that Genting/Lim family would try to take the company private on the cheap. If that was their intention, they certainly wouldn't be increasing dividends and commencing share buy backs.With the new shareholder friendly policies, I'm fully expecting a significant share price re-rate
Posted at 24/8/2023 15:54 by tigerbythetail
BTW, the maths of the share buyback is as follows...
Company will buy up to 396360 shares
= about 1% of company
Free float and liquidity is limited on this stock, so even a 1% buyback should move the needle considerably
Company has set aside £3.2m for this purpose
= implied average buyback share price of 807p.
(Obviously, if they start now, they can mop up quite a few shares at well below that price, so the buyback should act to drive the share price up to a distance beyond 807p. At least, that's what we hope!)
All in all, I should probably add more here. But I'll sleep on that.
Posted at 24/8/2023 14:08 by tigerbythetail
Any chance the company could release these RNSs at 7am? And maybe give us notice in advance of when results will come out?

Other than that whinge, the RNSs make mostly good reading. Very happy that they have announced an interim dividend (the yield is now credible, though it could still be much higher) and a share buyback (taking out even 1% of the free float may make a surprising difference to the share price).

The share price here - by all objective measures - is obviously way too cheap now that the company is becoming increasingly shareholder friendly. Just compare to sector peer MPE.

Anyway, I've bought quite a few AEP shares over the last few weeks, so I'll just hold on to what I've got for now and enjoy the (unexpected) interim dividend.
Posted at 21/8/2023 07:40 by tigerbythetail
Share price being taken down on low volume.
Given the company has about 70% of its market cap in cash, and the major shareholder holds 51%, is this leading up to a buyout of the minorities by the major shareholder? They could entirely finance the bid (at a decent premium to the current share price!) using only the company's own cash.
Any way you look at it, the directors should be deeply embarrassed by the current share price. There is no way are they properly representing the interests of all shareholders.
Posted at 17/7/2023 09:44 by skanjete2
These buy-outs are really important and create a lot of value.

Most of the cash is held at the subsidiary level. I think they never upstreamed it, because they wanted to deprive the minorities of important dividends so they would be motivated to sell, once the law allowed it.

So every time a minority shareholder sells, the cash at the subsidiary becomes free to upstream. Then they can allocate it to buy out other minorities, dividend it out, or buy back some (or all?) shares.
They have also more diversification possibilities for the cash. Now a lot is held in Indonesian Rupiah, so this would enable them to hold more US$.

Also important is the price they pay minorities for their stakes : the paid price is meaningfully higher than NAV in the accounts, while the share price is meaningfully lower than the share price.

The big one to take out is Tasik Raja, I guess.

The total cost of buying out all minorities could be 60-80 mUS$, so quite an important investment.
Posted at 26/1/2023 18:28 by nobull
"AEP is by far the better managed company. Look at their respective long term value creation."

Agreed that that has been the case in the past, but AEP is not creating value with the cash, and seems to have no plans to do so; REA should be able to reduce its net debt figure from $184m to, say, $120m over the next 18 months (it should receive a $35m coal loans repayment, which will help - yes, there is some off balance sheet 'debt' to repay too, I know, the pref arrears, but still with all that EBITDA in prospect from its oil palms business, surely getting the net debt down to $120m is do-able? $64m added to the market cap of the ords would really be some value creation. JMV.

Let's, for a laugh, come back to this after publication of the 2023 annual results of both companies(May 2024?) and see which share price has outperformed from today with REA at 101.5p and AEP at 770p. I am not saying that if REA outperforms share price wise that that is outperformance on a risk adjusted basis, just in absolute terms.
Posted at 25/1/2023 17:25 by skanjete2
Good luck on REA. You can as well buy a lottery ticket.

AEP is by far the better managed company. Look at their respective long term value creation. It's not because the share price is too low that the value isn't being created.

Besides, their stock price return is very similar as companies as MP Evans and Sipef.
The frustrating thing is that the value creation at AEP was superior to the other companies and that the share price doesn't reflect that.
Posted at 17/1/2023 15:47 by nobull
"Looked at on fundamentals AEP is in every way a superior company."

What? Ugh um... I beg to differ. AEP is being punished for its failure to use its cash profitably. The derisory dividends are fine if they use the cash mountain to grow the business, but they don't.

MPE probably has a better production volume growth profile (no, I haven't studied the AEP one, but generally markets don't get this sort of thing wrong, I wonder?). I get it that AEP are a bargain, but only if they do all the right things to out the value, but they are not. Until the BoD pull their finger out, they are fairly valued. AIMO.

BTW, I think the best are REA ords. Go figure out what their net debt will be in 18 months' time, and how the expected net debt reduction compares with the market cap of their ords. No, don't tell me the net debt reduction is all going to be added to the market cap of the prefs, or that the enterprise value is going to go through the floor due to a palm oil price crash (the latter is outside my competence to predict). I get it that REA has a terrible production volume growth profile but that's not the point. Yes, spare cash first goes to debt reduction, then maintenance capex and finally, in the far distant future, in the case of REA, to fixing the horrible production volume growth profile. REA has a better short term share price outlook, but is higher risk, so not to everyone's liking. For the self flagellaters, AEP is wonderful. Ow.
Posted at 17/1/2023 11:58 by tigerbythetail
Solid trading update out from direct peer Malaysian / Indonesian palm oil producer MPE (M.P. Evans) yesterday.
Question: has anybody ever tried writing to the senior NED of AEP to ask the company to address the extremely low rating of these shares? MPE report far more clearly and completely, they emphasise their long record of paying meaningful and increasing dividends, and they engage in share buybacks. The result is that their shares are rated, well, not highly (it's palm oil!), but at least reasonably.
Looked at on fundamentals AEP is in every way a superior company. But the share price is held back by poor reporting, derisory dividends, and no share buy-backs. Despite the company being debt free and having a huge cash pile and an EV of under £100m!
All in all, this is a crazy situation. At this share price, this company could and should pay 10%+ dividends every year...
Posted at 19/4/2022 11:32 by stemis
Situations like this are always difficult to value. The inflated price of palm oil won't last forever, so a P/E valuation on current earnings will never seem to be reflected in the share price.

However, here is my stab at an alternative. Let's assume that the situation on 31-12-20 was the status quo. Share price ~500p. Up to 31-3-22 I reckon AEP has generated around 300p/share of cash (~£155m). Currently it must be generating at around 30p a share ($15m). So a share price of 920p implies the current excess price will last about 4 months (to end of July). Obviously it wouldn't be quite as linear as that but it's rough and ready.

However, according to hxxps://

"In Ukraine, sunflower seeds are sown in April and May and harvesting usually begins in September. Tensions and military action in agricultural areas pose risks to the supply and demand of the next growing cycle. With trading routes being blocked, import-export facilities shut down, and farmers unable to plant, the average yield per hectare of sunflower seed will take a major blow this harvesting season. "

[Lack of sunflower oil and Russian production too will maintain pressure on palm oil prices]

That could mean high prices until at least September 2023 - another 18 months. On that basis a share price of maybe 1300p would seem reasonable. Still undervalued...
Anglo-eastern Plantations share price data is direct from the London Stock Exchange

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