Augean Share Discussion Threads

[cerrito] 11/9/2007 23:22

I remain comfortable especially with high quality management and non execs.
Good to see that there has been a period of relative stability legislation wise and their cash flow was good.
gr20287 it is entirely possible that the share price may remain flat in the short to medium term; however given its niche value not impossible to see a quick run up in price.
Patience will be rewarded

[haydock] 11/9/2007 16:27

This set of results has much to encourage the faithfull & the Irish.
Now this could be a cracking little company, increasing profits through good housekeeping, with cash in hand & reduced debt.
The most interesting part to the Irish has to be:

We believe these stricter controls emerging through the Integrated Pollution
Prevention Control (IPPC) regime will see some competitors disengage from the
market as the barriers continue to increase, thus further underpinning the
group's development programme and strengthening the economics for new
technologies.

It's a niche situation, with the entry not getting any easier, it already makes money, has great plans, M&A shortly say the report, & even a new contract with the Olympic site.
It will write up really well this week.
We can see a solid future,& hopefully soon an acending price channel.

[gr20287] 11/9/2007 13:54

from the chairman's statement today : "which I believe will deliver
value to our shareholders in the medium and long term".
in my words : the share price will remain flat (or drop) in the short to medium turn.

[lbo] 02/9/2007 15:16

One51 targeting three recycling companies

[lbo] 02/9/2007 15:15

One51 lining up E140m in acquisitions

[felix99] 24/8/2007 08:36

and is CEO comfortable with the anticipated outturn ??????. Come on Cerrito get back onto him and ask the right questions before you buy.

I agree it looks like it will get stolen - but at what price I do not know and am just wonndering if there is one last warning to come - so have held off

[cerrito] 23/8/2007 21:31

another day of high volume and no rns
been buying today
checked in with the CEO this am to confirm that the £2m + pre tax profit anticipated for H1 07 equated in broad terms to the £1.5m pretax pre amortixation of goodwill figure in H106 and £1.45 in H2 06 and was told it did.
basic reason for buying is that I feel management is serious and of course there is a scarcity value in their assets

[haydock] 23/8/2007 08:42

As this is largely held by the institutions, strength should be built in for good.
However who has been running for the hills & selling this last week?
Thats the answer, they have needed the cash, fast.

[cerrito] 22/8/2007 22:57

a record low
once again more than 1% of the shares traded
no doubt there will be a change of holdings RNS tomorrow
can understand why this is out of favour given issues with private equity but long term this must be good value especially if they are reducing debt

[lbo] 10/8/2007 09:55

One51 ready to spend €140m

[lbo] 10/8/2007 09:44

Sounds like a bid is coming for Augean IMHO

One51 valued at €1bn ahead of grey market

Philip Lynch, chief executiveof One51, at the company's agm in Dublin yesterday: "I think if someone in the market walked off the street and bid us Eur1 billion for it, I don't think I could ask shareholders to take it," he said.

Such a valuation excludes some €200 million in new capital which One51 is raising from its existing investor group, he said after its annual general meeting (agm) in Dublin yesterday.

He also indicated it may raise a similar amount from investors to part finance a new private-equity fund next year. The fund could be valued at €2.5-€3 billion and it will make individual investments of up to €1 billion to take positions of up to 40 per cent in established Irish firms, he said. Mr Lynch revealed after the agm that One51 has spent some €140 million on a deal in the recycling sector. He declined to name its acquisition target, but Limerick firm Hegarty Metal Recycling and other smaller operators are understood to be involved.

"We have a big enough recycling business in the UK and it has interests in the UK as well as in Ireland. I think the combination of the two are very very important," Mr Lynch said.

He told the meeting One51 remained committed to its efforts to buy out Irish Continental Group (ICG) with Doyle Shipping. He said the companies would be happy to retain their 20 per cent position in the long term. He also pointed out One51's ICG stake represented an average of only 3 per cent of its total value.

"In the totality of what we're at, I think that One51 is probably worth €1 billion today or at least I think if someone in the market walked off the street and bid us €1 billion for it I don't think I could ask shareholders to take it. Plus we start off with a €400 million investment in NTR, so you can see where ICG fades into total insignificance," he said.

However, he declined to comment on a valuation exercise by Davy in advance of grey market trading. "No I haven't a number from Davy, not yet. I wouldn't try to up the ante on them. They're doing a valuation and we'll leave that to take its course but it will be fine. The valuation won't matter an awful lot."

The introduction of the grey market will enable holders of One51 loan notes to convert their notes into tradeable stock. An issue of notes last year valued the company at around €300 million.

"I suppose it's about growing up really. You crawl and you creep and you go to the next stage. A full listing is something that the board will consider, this is purely a mechanism to get to trade in the shares."

The private-equity fund will operate with is own management and investment team as a subsidiary of One51 Capital, the vehicle that holds the company's stake in infrastructure group NTR and other financial investments. "One51 Capital today on its own is worth €500-€600 million , so we can leverage that and also bring in capital," he said.

"We'd have to give away some of One51 capital in order to do that but we'd happily do that to give us the momentum . . . There's a lot of people who have been very successful walking off the street to Lombard & Ulster or Seanie FitzPatrick [ of Anglo Irish Bank] or whoever it might have been 20-25 years ago or the banks, that have made a lot of money and they are at an age when they might like to take some money off the table."

He revealed at the agm that developer Bernard McNamara was an investor in One51, but declined to name other investors.

[haydock] 03/8/2007 18:55

General piece in Sharees Mag:
Regulatory problems but well placed for the future & the new CEO making the right noises.
Seems a bit quiet to me,but waitng for results.

[lbo] 03/8/2007 12:30

Carroll 'rebuffed' on ICG shares
Thursday, 2 August 2007 17:21

The Moonduster consortium has confirmed that advisers acting for property developer Liam Carroll made an approach to buy its shares in Irish Continental Group.

Moonduster, which includes One51 and Doyle Shipping, is locked in a takeover battle for Irish Continental with Aella, a group including members of the ICG management team.

A statement from Moonduster said the Carroll approach had been rebuffed, and that One51 and Doyle had 'no intention' of selling their Irish Continental shares.

[lbo] 18/7/2007 12:52

One51 expect to double profits to €20m
Wednesday, 18 July 2007

The investment company, One51 plc, has reported in its annual report operating profits of €9.7m for 2006 and expects this figure to double to €20m this year.

One51, which was previously called the IAWS Co-op, also gave a clear signal that a flotation is on the cards for early next year along with shares expected to begin trading in the grey market in the autumn.

One51 owns a quarter of NTR and has been acquiring companies in the recycling industry here and in the UK.

There was €121.9m turnover in 2006, of which €24.7m came from acquisitions made in the course of the year.

The company and its chief executive Philip Lynch are making headlines as they battle it out in a €560m takeover bid for the ferrys group ICG.

[huttonr] 17/7/2007 18:08

I wonder where the Goldman Sachs stake went (see todays RNS) - was 5.3% now less than 3% - which could be zero.

[haydock] 13/7/2007 09:14

Irish wheeler dealers, they clearly know the market & have taken the strategic stake.
However we shall have to see if the left hand knows what the right hand is doing & if they really have a strategy, or are at the magpie stage.

Patience needed still,on the whole to me they look a little magpie at the moment.
{It was glittering & they thought it was gold so they took it home.However not thieving magpie with the price they paid for the block.}

[lbo] 13/7/2007 08:50

Lynch's One51 issues cash call for up to €200m from investors

Friday July 13 2007

PHILIP Lynch's One51, which is involved in a bitter takeover battle for Irish Continental Group, has issued a cash call for up to €200m from shareholders to expand the company's waste and recycling business.

The move comes hot on the heels of One51 raising €170m last year in the form of convertible loan notes from co-op shareholders and Irish high-rollers.

Most of those who subscribed to the loan note offering recently voted to convert their notes into ordinary shares.

In a letter sent out to shareholders in recent days, Lynch invites expressions of interest for investment to "support the continued development and growth of One51". Investors have until August 7 to reply.

One51 does not give a valuation for the group ahead of the fresh money being raised.

One51, a collection of businesses and investments formerly known as IAWS Co-op, recently split itself into two: an "operations" company of the same name and an investment subsidiary, called One51 Capital.

The group's environmental businesses, including Rilta, a hazardous waste company, Immark, a Swiss electronic waste recycling firm, and TechRec, another electronic waste recycler, based in Dublin, have all been bundled into One51.

The operations company also includes the group's full ownership of Irish Pride bakers and half interest in Greenore Port in Co Louth.

Meanwhile, One51 Capital holds the group's 11.25pc investment in ICG, its 26pc interest in infrastructure conglomerate NTR, 8.65pc holding in listed financial services group IFG and 10pc in marine energy technology start-up OpenHydro.

"The new money being raised is only being used for the operations company, where the focus is on growing the environmental businesses," said an informed source. "None of the money is being allocated to One51 Capital."

Meanwhile, the Irish Independent revealed earlier this week that One51 Capital's recent talks to sell a 20pc-plus stake in itself to Farmer Business Developments for about €100m have fallen through.

Farmer Business Developments owns 24.8pc of Dublin-listed insurer FBD Holdings.

[lbo] 07/7/2007 15:04

Augean sees H1 pretax profit in excess of 2 mln stg

LONDON (Thomson Financial) - Hazardous waste management firm Augean PLC said it expects first-half pretax profit to be in excess of 2 mln stg as it has made good progress with growth in activity from the Landfill division.

As a result of strong cash generation the company's net debt at the period end was about 9 mln stg compared with 11 mln stg in the year-ago period.

Chief executive Peter Worlledge said he is pleased with the early progress on a number of specific projects and remains very 'encouraged' by the prospects for the business in the medium and long term.

[harrogate] 01/7/2007 11:47

I am only here becasue I bought at £2.00!! - I can see me getting my money back at some pint this year but it has been a fairly painful watch

[simon gordon] 30/6/2007 19:05

H'Gate, I'm surprised to see you still in here. I liken AUG to being waterboarded.

Good fortune.

[cerrito] 30/6/2007 18:04

Good to see Slaet bought almost 200,000 more shares hopefully will bring some stability to the price

[huttonr] 08/6/2007 16:56

Perhaps some sort of automatic trading? mopping up whatever is on offer?

[harrogate] 08/6/2007 15:48

Strange trading today - there have been 60 trades since 12.00 - all but 2 buys

But no movement in the price

[harrogate] 05/6/2007 13:07

Thought there might be a trading statement at the AGM - did anyone go?

[beaufort1] 21/5/2007 18:14

Nice spot LBO