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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aquatic Food | LSE:AFG | London | Ordinary Share | JE00BQQG1J93 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.50 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
30/6/2017 18:02 | Well done Po Ling .... brave decision but, given the circumstances, the correct one.I'm quite sure the CEO only recruited her to help try and use her pedigree to add a veneer of professionalism over the dodgy activities in the company.No way she should be tarred with this particular brush ... all the time she was at WCC, she was excellent.Far better honest endeavours & opportunities for her talent elsewhere. | mattjos | |
30/6/2017 17:30 | Press Release 30 June 2017 Aquatic Foods Group Plc ("Aquatic Foods" or "AFG" or the "Group" or the "Company") Aquatic Foods Group Plc (AIM: AFG), a leading Chinese marine foods and seafood processor and producer supplying to export and local markets announces that the Company's Finance Director, Po Ling Low, has resigned from the Company and will cease to be a director of the Company with immediate effect. Ms. Low will continue to assist the Company with the finalisation and publication of its accounts for the year ended 31 December 2016 in the near term. A search for a replacement has been initiated and further announcements will be made in due course. | someuwin | |
29/6/2017 19:21 | So something a bit fishy about these goings on you think I like a little fishy when the boate comes in , on my little dishy that is. I also like a nice chinese once every wee while | buywell3 | |
29/6/2017 11:38 | Look at the web sites of Sorbic and China Food Company. Same layout, same chairman, same address, same fate. Even city types were foolish enough to invest: | caradog | |
29/6/2017 11:36 | Wrote about this company last year and warned people that the cash in their balance sheet isn't transparent because accounting and auditing in China are more obscured than in West. Don't you find it strange that a company with 5 TIMES cash over MKT.CAP. FAILS to report their results? A different company would be dying to report their numbers. Here is a re-cap of my analysis HERE: - Also, I noticed Leon Boros has made some positive comments on my post at Stockopedia. Thanks for the kind words!! You can read it here: - | walbrock82 | |
29/6/2017 11:16 | JQW,Sorbic etc etc Not to mention multiple similar scams in Germany. Any remaining shareholders should ponder this: If they can't transfer money to pay accountants in Jersey, how will they transfer cash for dividend payments? How can they buy fish from Norway? | caradog | |
29/6/2017 10:49 | ..Taihua (TAIH)....Asian Citrus (ACHL) .... further back: CYC Holdings, RCG etc etc | mister md | |
29/6/2017 10:02 | Indeed, brwo, I posted some weeks ago the two non-execs, Sweet and Yap, had overseen catastrophic destruction of shareholder wealth in other companies, and that Yap was being economical with the truth in claiming he had a masters degree. No response. WCC share price collapsing some months after Po Ling left, amid concerns about accounting methods. Faith unshaken. The repeated AIM flotation of dubious Chinese companies is just another example of gross failure of regulation - Camkids, Naibu, China Chaintek, etc etc. Just read this: | caradog | |
29/6/2017 08:13 | Big mistake joining this one Po Ling. best get out fast before get tarred with this scam | mattjos | |
29/6/2017 08:02 | Wow. How embarrassing is that? £50m in the bank and they have to borrow from the directors to pay for ongoing admin expenses in Jersey. I reckon the only hope here is some kin of tender offer for shares from the company. One Board member here (Jonathan Quirke) is a shareholder, so at least he is sharing the pain and should fight hard for some kind of resolution. | galeforce1 | |
29/6/2017 07:25 | Multi Million pound company can't pay the accountants lol you could not make this up | reallyrich | |
29/6/2017 07:22 | This is why I avoid these fishy (pardon the pun) Chinese stocks on AIM. TAIH and ACHL (oranges) other recent examples | mister md | |
29/6/2017 07:18 | Annual accounts and suspension of trading Aquatic Foods Group Plc (AIM: AFG), a leading Chinese marine foods and seafood processor and producer supplying to export and local markets announces that the Company expects that it will not be in a position to publish its audited report and accounts for the year ended 31 December 2016 by 30 June 2017 in accordance with Rule 19 of the AIM Rules for Companies. As a result trading in the Company's shares shall therefore be suspended from trading on AIM pursuant to AIM Rule 40 pending publication of the accounts. The suspension will commence at 7.30 a.m. today. Work to complete the Company's audit and accounts is substantially complete with audited results and cash balances expected to be in line with the Company's trading update for the year ended 31 December 2016 which was announced on 20 March 2017. While the Group maintains a strong cash balance, the Company has faced continued difficulties in remitting funds from its operating entities in China to the Jersey holding company resulting in the delay of payments to a number of parties whose assistance is required for the finalisation of the audited accounts. The Board is putting short term measures in place, through the provision of directors loans to the Jersey holding company, to ensure that these critical payments are made in order for the accounts to be released as soon as possible but it is expected that a number of parties including the Company's Directors and Nominated Adviser will still be owed fees by the Company. The Company's Directors are seeking to establish a framework for ensuring that ongoing UK expenses can be met in a timely manner going forward notwithstanding more stringent cross border fund remittance control by the PRC State Administration of Foreign Exchange (SAFE) which the board understands to have been prevalent of late. Until the resolution of matters relating to the ongoing transfer of funds from the Group's operating subsidiaries to the Company, the Directors have determined not to declare further dividends and do not currently intend to declare a final dividend in respect of the year ended 31 December 2016. The Company anticipates that its accounts will be published during July and will provide further updates as appropriate in relation to the UK payments situation and publication of the report and accounts. Notwithstanding the suspension of trading in the ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement under the AIM Rules. | someuwin | |
29/6/2017 07:17 | Suspension. The end game is being played out. Another win for the crooks. | brwo349 | |
28/6/2017 11:33 | I know gale, I've been waiting to put some capital to one side, so I could top up below 10p, but maybe I've missed my chance? If wages and thus buying power are rising in China, maybe the consumer moves up the food wealth chain, and buys more higher value foods? I'd be interested to see the Data to see where on the price/value chain AFG comes... Perhaps they need better marketing/PR, but as I highlighted some time ago, Fukushima and the water poured in to cool it is spreading irradiation across the Pacific, and no doubt the South China sea (and all points close by), which MUST put off some buyers? W. | wstirrup | |
19/6/2017 13:06 | Interesting that this should rise 25% today on no volume. | galeforce1 | |
07/6/2017 18:33 | O/T. It's encouraging to know that wage costs are going up, that should mean post Brexit, Great Britain plc can sell much of our engineering output to the nouveau-riche (I'm thinking green tech and British premium brands like Mulberry, and other Designer Brands et-al) Bodes well for our balance of payments... we need to sort out the energy market though. Beryllium/Thorium needed to be used in MSR reactors for steady, safe, GREEN energy production. WHY haven't we done more research on this topic I wonder? NO government money? :¬/ W. | wstirrup | |
03/6/2017 23:21 | This is some weird stuff... What TF is going on? Killary's campaign Team, talking about "Seth Rich"ing people... (Who is/was Seth Rich? Google his story...) BUT also at the back-end of the vid... A threat to Big Oil, Big Gas, Big Nuclear, and Big Renewal/Green Energies... OMG! W. | wstirrup | |
01/6/2017 08:43 | There was a Q1 2017 trading update on May 21st, which I missed. On the positive side the cash position has improved further, as outstanding debtors have reduced. There's a £10m rise in cash on balance sheet from the year end at 31/12/16. 485m RMB (GBP 54m) at end of Q1. This must partly reflect an effective new CFO in charge (Lo Ping, who has come from West China Cement). On the negative side the turnover remains static, and the costs continue to increase. The gross margins are down to 22% and the net margins are at 6%, which is a big fall from last year's 10% (which was itself a reduction from 2015). That suggests net profits in 2017 will be in the GBP £6-7m range. Quite a lot lower than than in 2016 (finals not yet out, but expected to show a profit of around £10m for 2016). The outlook suggests that operating conditions are likely to remain challenging. They are still looking for an acquisition, inside or outside China. We might get the Finals tomorrow. They are often on a Friday. There probably won't be much new information, but the critical thing will be whether they continue to pay a reasonable dividend. Last year the final div was 0.7p. I think they'll cut this to 0.5p. It's remarkable how fast wages in China are increasing. I spoke to a company yesterday with a factory in NW England and a factory in Shanghai. The office staff in China are now earning the same as the office staff in the UK, and will soon be earning more. The differential between manual workers is still quite big. From AFG's point of view I suppose this is good and bad. A richer China can buy more fish. On the other hand the employees in Yantai have to be paid more. | galeforce1 | |
14/5/2017 22:23 | Gale I agree. I took quite a bit of time, doing on-line research before dipping a toe in the water, and topped up a couple of times since, but at this level, I agree they are a juicy buy, but a decent Divi, would give credibility... W. | wstirrup | |
13/5/2017 18:53 | Stirrup - it's definitely tempting to top up here, despite the big spread and despite the lack of news. But I think I think I'll wait to see details of the final dividend, even if that means paying more per share. It's not so much because of the actual GBP involved in the dividend. I'm concerned that if the company slashes the final divi (in the way they did with the interim divi) then credibility in the company won't improve, nor will liquidity and the share price will go on lingering at these current ultra-cheap levels, where the market cap in about a quarter of the cash on the balance sheet. If they pay a decent final dividend and state that they intend to go on doing this, then I think the share price could do quite well. A return to the IPO level would be a rise of about 5x. | galeforce1 | |
08/5/2017 22:51 | Gale, if I had spare capital at the mo, I think, I'd be considering a small top-up... Enough to bring my average closer to these levels anyway. W. | wstirrup |
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