Antonov Share Discussion Threads

[crystalclear] 28/2/2005 00:50

The group aims to bring its annual sales up to 300,000 by 2006.

[crystalclear] 28/2/2005 00:17

Powertrain Limited is often described as an engine company although it makes gearboxes too. The text below may (or may not) include the Antonov transmission designs Powertrain is working on.


...
There has already been a £67m down payment, made last autumn, secured against the engine technology and intellectual property on the Rover 25.
...
The current plans are for production of the Rover 25 to be moved to Shanghai, with the 75 produced there and at Longbridge and the 45 at Nanjing and Longbridge. Engines will be produced in China.
...

[crystalclear] 28/2/2005 00:16

The current plans are for production of the Rover 25 to be moved to Shanghai, with the 75 produced there and at Longbridge and the 45 at Nanjing and Longbridge. Engines will be produced in China.

[crystalclear] 27/2/2005 14:40

Done! I added a note on his website forum.

[wampie] 26/2/2005 17:57

Hello all.

This is my first posting. I have always been interested in motor cars and engineering, and I am an inventor. I set up a forum just recently for inventors, and have just written and published an article on MG Rovers possible future - it's a big blue-skies type vision. It is there for people to review, and any good comments or points that I put in will be credited as desired - it's co-authoring.

Any how, the plan is here

Please be aware that it is not finished, bits will be wrong, and so on, I'm looking for feedback and review. I hope that something practical at least can be suggested and of some use to someone.

Many thanks

ATB


Hello CC, may be you can give him some suggestions about de relationship with Antonov/Powertrain/SAIC/Rover? My english is not good enough to do it by myself.

[crystalclear] 22/2/2005 14:06

Nanjing Auto gears up to expand
( 2003-09-03 09:18) (China Daily)



Nanjing Automobile Corp, the newly-restructured automaker in East China's Jiangsu Province, has unveiled a plan to triple its annual sales within the next three years.

The company aims to increase its annual sales to 300,000 units by 2006, up from the 100,000 units expected this year, according to sources from Nanjing Automobile.

The company also expects its turnover to grow to 30 billion yuan (US$3.6 billion) in 2006, up from this year's expected 10 billion yuan (US$1.2 billion), sources said.

On Sunday, the company attracted two new shareholders - Jiangsu Provincial Guoxin Asset Management Co and Jiangsu Communication Industry Co.

The automaker was previously owned by Yuejin Automobile Group in Jiangsu, and China Huarong Asset Management Company and China Cinda Asset Management Co - the two State firms created to dispose of non-performing bank loans.

With the restructuring, Nanjing Automobile's assets total 12 billion yuan (US$1.4 billion).

Yuejin controls a 52.99 per cent stake, but the company has not revealed the specific stakes of other shareholders.

Nanjing Automobile now has a total production capacity of 180,000 units a year and has three major manufacturing bases - Nanjing Iveco, a wagon joint venture with Italy Iveco, Yuejin Light Truck Co and Nanjing Fiat, a car joint venture with Italy's Fiat Auto.

The restructuring will make a widely anticipated merger between Nanjing Automobile and Shanghai Automotive Industry Corp, one of China's top three automakers, "almost impossible," said Jia Xinguang, an analyst with the China National Automotive Industry Research Institute.

Yuejin and the Shanghai auto firm started merger negotiations in 2001. But the negotiations halted last year as the central government transferred the management of Yuejin to the Jiangsu provincial government.

"The restructuring is a strong signal that the Jiangsu provincial government pins great hopes on us to revive the local auto industry," Zhong Dong, a researcher at Nanjing Automobile, told China Daily yesterday.

"I believe the auto industry in Jiangsu will have a rosy future as it has a sound foundation," Zhong added.

The provincial government also expects Nanjing Automobile to merge with many other smaller auto firms in Jiangsu to form a bigger group.

These firms include Yangzhou Yaxing, which operates a bus joint venture with Mercedes-Benz of the German-US auto giant DaimlerChrysler AG, the Changzhou Bus Co, Ltd, which has a bus joint venture with Iveco, and the Chunlan Automobile Co.

The central government hopes to form several internationally competitive auto groups through mergers and acquisitions within the nation's fragmented auto industry which numbers around 120 vehicle manufacturers.

[crystalclear] 22/2/2005 13:34

Two Chinese vehicle joint ventures merge

www.chinaview.cn reports that Nanjing Automobile Group, a manufacturer based in East China, is considering merging its two joint ventures after Bird, a domestic partner (and phone company) withdrew from one of them.

The group now plans to bring together a sport utility vehicle (SUV) venture in Nanjing and a compact car venture in Wuxi, according to a Nanjing Auto official. The new entity will be based in Wuxi and named Nanqi (Wuxi) Soyat Automobile Co Ltd.

Amoi, an electronics company in Fujian Province which has a 50 per cent stake in the group's SUV venture in Nanjing, is expected to increase its investment in the new entity. The venture, which has an annual manufacturing capacity of 30,000-50,000 units, started assembling a 1.5-litre SEAT Ibiza-based Soyat model last March, but only 3,000 Soyats were sold last year. Amoi and Nanjing Automobiles formed the SUV venture last year with a registered capital of 350 million yuan (US$42 million).

[crystalclear] 22/2/2005 13:21

'We will produce top-grade MG-75 sedans in Pukou of Nanjing,' Xinhua quoted Wang as saying.
'The first car is hopefully to be rolled off the production line in the first half of 2007,' he said.


..., the National Development and Reform Commission (NDRC), ..., has given the go-ahead to Nanjing's proposal to build a new plant in the city with annual production capacity of 200,000 vehicles. ...
...
==============================================




SHANGHAI : Nanjing Auto Group, a small state-owned Chinese carmaker, is in talks with MG Rover and Shanghai Auto to take a 20 percent stake in the troubled British firm.

"Nanjing Auto will take a 20 percent stake in the joint venture company," the state's Oriental Morning Post said Tuesday, quoting unnamed sources at Shanghai Automotive Industry Corp (SAIC).

The proposed three-way joint venture deal would still see SAIC take up to a 70 percent stake in the loss-making Birmingham-based company, the newspaper said.

It said that Shanghai Auto and Nanjing had already held discussions and had virtually agreed on the three-way tie-up.

The new company would see Nanjing Auto, which already has a venture with Italy's Fiat, take up production of Rover's 45 series, while SAIC would take on Rover's 25 series.

SAIC, which already has ventures with General Motors and Volkswagen, signed a cooperation agreement with MG Rover in June last year but the deal has run into difficulties with Chinese regulators.

Under the proposed deal, SAIC would invest one billion pounds (1.85 billion dollars) in Rover.

On a visit to China Tuesday, British finance minister Gordon Brown said he was in favour of the Rover-SAIC tie up and his government would do what it could to ensure it was worked out.

"Both the Chinese and British governments will do what they can," he told BBC radio.

"In the British case, we have been very supportive of this partnership. We will do what we can in helping make this partnership successful."

According to recent media reports, the proposed joint venture has run into difficulties with Chinese regulators stalling on a decision due to concerns about the size of the investment. - AFP

[crystalclear] 22/2/2005 13:01

Apparently its a three way deal, with Nanjing Auto. That should increase potential car volumes.

http://www.channelnewsasia.com/stories/afp_world_business/view/133815/1/.html

The new company would see Nanjing Auto, which already has a venture with Italy's Fiat, take up production of Rover's 45 series, while SAIC would take on Rover's 25 series.

[edwards45] 21/2/2005 12:43

Cannot buy or sell online at moment.

[edwards45] 21/2/2005 12:34

Just tried a dummy trade, currently cannot buy or sell online.

[3parsnips] 21/2/2005 10:02

Re : Antonov Info..

Aim Notice No. (85) today 21.02.05 :

The London Stock Exchange admits the following securities to trading on AIM:

ANTONOV PLC 28,385,762 Ordinary Shares of 20p each(B03THB3)(B00B03THB32)




---------------------------------------

Previous Info (16.02.05...(1 New share) for every (4 existing shares).

The effect of the on shareholders will be as follows:

• For every 4 existing ordinary shares of 5p each held by existing
shareholders as at the close of business on 18 February 2005 (the 'Record
Date'), shareholders will receive 1 new ordinary share of 20p each.



---------------------------------------

Share Prices :

...........................BID....OFFER

Last Friday at the close...29p.....31p
Today.....................110p....117p

On the basis of 1 for 4 shares...4 x .29p Bid = 116p...4 x .31p OFFER = 1.24p

So at the moment the share price is in effect DOWN by approx 5%...(6p/7p)

--------------
3Parsnips

[3parsnips] 21/2/2005 10:02

Re : Antonov Info..

Aim Notice No. (85) today 21.02.05 :

The London Stock Exchange admits the following securities to trading on AIM:

ANTONOV PLC 28,385,762 Ordinary Shares of 20p each(B03THB3)(B00B03THB32)




---------------------------------------

Previous Info (16.02.05...(1 New share) for every (4 existing shares).

The effect of the on shareholders will be as follows:

• For every 4 existing ordinary shares of 5p each held by existing
shareholders as at the close of business on 18 February 2005 (the 'Record
Date'), shareholders will receive 1 new ordinary share of 20p each.



---------------------------------------

Share Prices :

...........................BID....OFFER

Last Friday at the close...29p.....31p
Today.....................110p....117p

On the basis of 1 for 4 shares...4 x .29p Bid = 116p...4 x .31p OFFER = 1.24p

So at the moment the share price is in effect DOWN by approx 5%...(6p/7p)

--------------
3Parsnips

[crystalclear] 21/2/2005 04:42

Getrag Ford SPS6 and MPS6 Powershift transmissions.

[crystalclear] 19/2/2005 14:57

Share split this weekend! Don't accidentally sell at £1.20 on Monday thinking you have made a fortune!

[crystalclear] 16/2/2005 12:04

My note:-
Maybe it is smart that they get the consolidation done before their inclusion into the AScX index early next month.

[crystalclear] 16/2/2005 12:01

Press Releases:
If you would like to receive Antonov press releases by email, please click and fill in your name and email address.





Press Releases

2005-02-16
Share Consolidation

On 4 November 2004, the directors of Antonov plc, developer of a range of unique and innovative gearbox technologies, wrote to shareholders to seek approval for a proposed consolidation of the Company’s ordinary share capital in order to simplify the Company’s capital base. The resolution was passed at an Extraordinary General Meeting of the Company held on 26 November 2004.

Under the share consolidation the existing ordinary shares of the Company are being consolidated on the basis of 1 new ordinary share of 20p each for every 4 existing ordinary shares of 5p each. The consolidation is being effected by reference to shareholders and their holdings of existing ordinary shares on the register as at the close of business on 18 February 2005 (the “Record Date”). Application has been made for the new ordinary shares arising from the consolidation to be admitted to trading on AIM and it is expected that admission of the new ordinary shares to AIM will become effective and that dealings in the new ordinary shares on AIM will commence on 21 February 2005 (the “Dealing Day”).

The effect of the above on shareholders will be as follows:

· For every 4 existing ordinary shares of 5p each held by existing shareholders as at the close of business on 18 February 2005 (the “Record Date”), shareholders will receive 1 new ordinary share of 20p each.

· Those shareholders whose holdings of existing ordinary shares on the Record Date do not constitute multiples of 4 will be left with a fractional entitlement to a new ordinary share. Such fractional entitlements will be aggregated to whole numbers of new ordinary shares and sold to Brewin Dolphin Securities Limited at a price of 120p per share. As (on the basis of a market price of 30p per existing ordinary share) the maximum about to which a shareholder left with a fractional entitlement would be entitled would be 90p, such amounts will not be distributed to such shareholders but retained for the benefit of the Company.

· It is intended that new share certificates will be sent to Shareholders, who hold their shares in certificated form, within 14 days of the Dealing Day. These new share certificates will set out the number of New Ordinary Shares owned by a Shareholder on completion of the Share Consolidation and will replace a Shareholders' existing share certificate which will no longer be of value from Admission and should be destroyed upon receipt of the certificate in respect of the New Ordinary Shares. Definitive certificates for the new ordinary shares to be issued in certificated form are expected to be dispatched by post within 14 days of the Dealing Day. Temporary documents of title will not be issued. Pending despatch of definitive share certificates, transfers of new ordinary shares held in certificated form will be certified against the register held by Capita Registrars. Shareholders who hold their existing ordinary shares in uncertificated form are expected to have their CREST accounts credited with the new ordinary shares on 21 February 2005.

· Other than the change in nominal value, the new ordinary shares will have the same rights as the existing ordinary shares including voting, dividend and other rights.

[crystalclear] 08/2/2005 17:01

Its also a good way to avoid being ripped off. At the moment the shares are low and financial institutions often want the same again in warrants. The last open offer was two warrants for every three shares.

It is not motivating for Roumen as he already has a large stake in the company and gave shares from his own pocket to employees in return for work done getting the 5th generation transmission ready for the Paris motorshow. Roumen is self motivated by belief in (knowledge of?) the efficiency of his transmissions, etc.

Cees Minaar is already rich I believe, and Antonov PLC is a part time job for their finance director David, who runs Green Corporate Finance. I see this as tiding them over a bit until the MG Rover/Shanghai Automotive deal is signed in the spring (maybe).

=

If they succeed they can buy the stock, otherwise a good yield.

Not quite. If Antonov fail there won't be the money to repay the loan. For the directors, the loan may well be all or nothing, but with Shanghai Automotive aiming to be the sixth biggest manufacturer in the world, and some intellectual property from Rover already believed to have been signed over to SAIC in return for about £40m, I think there is a fair chance of success.

It does seem to show that the OEM funded project is independent of the 5th generation and dual clutch transmissions being designed for Powertrain Limited, which is good news in itself.

==

In May, first production of SUVs with 6-speed manual transmissions seems to be due from International Cars and Motors in India. This could well be the manual version of the dual clutch Antonov transmission.

Antonov enter the AScX index in about a month.

Its just a question of biding our time now, and waiting for dividends in a few years time, plus waiting for other contracts, eg the OEM funded project, and waiting for Honda production, etc.

[mac] 08/2/2005 13:05

What a nice safe way to buy shares. If they succeed they can buy the stock, otherwise a good yield.

At least it is motivating, for them to make a success of the business.

[maywillow] 08/2/2005 11:42

LONDON (AFX) - Antonov PLC said it raising 150,000 eur by issuing
convertible loan notes to chairman Roumen Antonov, finance director David Bovell
and non-executive director Cees Minaar.
The company said the proceeds will go towards working capital.
The notes may be converted into ordinary shares of 5 pence each in the
company any time after Sept 1 2005 at an exchange price of 0.40 eur per share,
it added.
If all the notes are converted, Antonov could be required to issue a further
375,000 shares, representing about 0.2 pct of the current issued share capital
of the company.
The notes bear interest at an annual rate of 7.5 pct.
bam

[crystalclear] 07/2/2005 23:41

My highlighting.



...

“The Chinese Government at all levels has given these negotiations its full support. SAIC and MG Rover are confident that the deal will be completed within the necessary timeframe to protect the MG Rover group.”

It is believed that the two groups are attempting to complete the deal by late spring.

...

[crystalclear] 04/2/2005 19:22

Thanks Ariane,

I've put the weightings I got off the Antonov Clubsite onto another thread.
Basically, I think we are 0.52% of the index. Hopefully tracker buying will prevent us falling further while waiting for production to start and still issuing new shares for capital to live off.

It could be a long wait if we have to sit it out for dividends from production, ... never buy a share for minutes that you are not prepared to hold for years and all that, .... or maybe the potential of the company will start to hit other people awareness, with Rotrex and Powertrain, etc. Who knows?

Sonalika appear to be starting trail production of SUVs soon. My guess is that they might be a test vehicle for manual versions of the dual clutch transmissions - a sort of single clutch dual clutch transmission if that makes any sense!