Autins Share Discussion Threads

[wasp8] 22/3/2021 12:17

To be honest Mach - I suspect the fact it quietly disappeared from the Annual Report and hasn't been mentioned since suggests it failed (or won't ever make the grade). This is what drives me nuts about AIM - big noise (on an unregulated news line) to pump prime things and then just let drift. If it was a goer then I'd have expected some segmental reporting on the existing facemask work and then more progress updates. Sweden and Germany are good for the story but still too small in my opinion. And JLR still worries me. I'm very glad that other holds mean I'm way covered on the losses here... just hanging on now to see if the damage can get limited...

[mach100] 10/3/2021 21:40

Good points WASP. I would ask them to improve their comms. I would like some news of the certification to the respirator BS EN149 FPP2 type for medical applications. Companies which announce something- especially those in an auto related industry- then you never hear again really grind my gears. I would like an update on how much of their markets in Sweden and Germany are now open. And how will they capitalise on the elctric vehicle market?

[wasp8] 06/3/2021 19:39

Hi Mach. Asking any questions at the AGM? Tempted to ask what criteria were used to get to those option issues/LTIP? Also - do their issue have any interaction with Ian Griffiths (Head of Remco)resigning? All a bit coincidental for my liking. Auto market looking soft again. May just cut my losses here...

[wasp8] 18/2/2021 08:27

I also don't like the fact they've clearyl been off spending cash on the paid for Director Talks nonsense which isn't regulated and allows the CEO to spout off whatever he likes without a check and balance. The masks business has quietly died away but still using it as a method to get hits and higher activity to their site.

[wasp8] 17/2/2021 22:13

CEO is the one who worries me. Too much spin and not enough substance. Low and Bonar not exactly the best record either... I just want to see the full accounts and hope BDO have done a decent job so we can see proper disclosures!

[mach100] 17/2/2021 20:48

Evening Wasp. CEO is upbeat. hxxps://www.bing.com/videos/search?q=autins&docid=607995248980264199&mid=6C32E8AA500A6BBA95946C32E8AA500A6BBA9594&view=detail&FORM=VIRE

[wasp8] 17/2/2021 19:58

Less than 50,000 shares moving - so nothing serious. Odd behaviour after one of the NEDs resigns - especially one with such a breadth of experience as Ian Griffiths. There is zero newsflow and not a lot of good news to be had. in fact - they've not published the accounts, nor the slide deck given to investors and are in breach of the AIM Rules as a result (AIM 26) - don't get sucked in....

[mach100] 17/2/2021 16:56

Any idea why Yus? Tipped somewhere? I sold 30% of my holdings after the early January update but maybe I would have been better weathering it. MIght be a false rise as it ran into the close distorting the share price

[yus777] 17/2/2021 16:44

nt trade only this is gonna boom very difficult to buy traders premium

[mach100] 20/1/2021 18:35

Evening Wasp. TBF not one of them vests unless the share price almost doubles . Of course today's near 10% fall gives them more work to do to make it. It is the actual overall amount of them rather tean the strike price that staggers me. For a company which could breach its banking covenants and has been sucking in loans left right and centre as well as using furlough it actually beggars belief. Fortunately they are some years out but still. I still got 605 of holding so will see how the market runs with this. Gonna sell at 16p on the bid though and take a small loss overall if it hits it. There were some late trades declared today from yesterday which looks like some punters exiting. Interested in your analysis WASP when you have looked at the results. Sorry to say your 46p price is looking very remote!

[wasp8] 20/1/2021 15:41

Hi Mach100 - haven't had a chance to digest properly as yet, but those LTIPs/Management rewards are hugely excessive. Someone needs to have a serious go at the advisors who signed that off. Those options are 7.2% of issued share cap for what look like very very modest targets. I'd hope Schroeders give them a kicking over that!!!

[mach100] 20/1/2021 15:08

Wasp what is your take? I sold a third of my holdings today for an 18% profit befire the fall which was sealed by a second seller. The risk of breaching covenants applying to the CBIL loans spooked me though the company are confident of making the EBITDA required. if some buyers come in we could see a rise again and I would definitely sell into it. The risk reward curve has shifted towards risk.

[mach100] 20/1/2021 10:00

Disappointed with the results. Won't be adding on those as some red flags in there. Nice to see options vesting higher up though they are very generous remuneration given the company is lossmaking. Will assess the market reaction before deciding but seem better plays out there given the red flags I see in the results.The capital structure is weak.

[mach100] 16/1/2021 10:27

Morning Wasp. Although divis would boost the share price they are not must haves when you consider the potential Capital Growth here. That is far higher than any divi. However to achieve capital growth the company has to be on a sound footing or show clear evidence that it is tackling debt and growing revenue. I am hopeful it is doing both in a difficult environment. The demand for cars has not gone away though there is less driving currently. And the Vaccine may encourage pent-up emand to be released. In which case the current share price will look ridiculous. The main issue I have is lack of newsflow. They should be consistent with the results date. No need to push it out to March. This is very much a gambling stock. Luckily my average is about 18p now so I have some margin. Still I am hopeful my punt here will pay off.

[wasp8] 13/1/2021 15:00

Hi Mach100 - my issue is that it's not going to be in their control. I.e. the CBILS money and other new debt this time last year blocks dividends. And I still cannot see that ventilator coming through without a massive redesign. I can't cash out as yet...

[mach100] 07/1/2021 13:30

Afternoon Wasp. Not so sure on the divi honestly as you can't blame companies for conserving cash and/or paying down debt which involves a coupon. Sure a restoration of the divi would boost the share price but I don't think that is realistic. Better to pay down debt and hopefully show growth in flooring, some recovery in Acoustics and a useful revenue stream in the masks. And news on a ventilator using their filtration system. Well I could cash out now as I am up about 20% on my purchases but will hang on and see where this is going.

[wasp8] 07/1/2021 13:12

100% - announcement in March when they're pretty much at the half year - and then have to really share some view on full year. Nice to see some buying - underpins the new level and will hopefully hold. Depends what those results show and the debt restrictions. If it blocks divis then it will turn a lot of people off..

[mach100] 07/1/2021 10:49

The buying is continuing to be fair as well as sizeable sells but the share price holding up quite well. I agree with WASP that the results probably won't come until March. The car industry is definitely suffering from the Lockdown's but I think the flooring and masks will do well. I do wish the company would bang the drum more though as information is thin on the ground and disencentivises investment due to lack of engagement.

[wasp8] 05/1/2021 12:11

Just some buying I think - so so illiquid there is next to nothing that needs to happen to move the needle. But welcome nonetheless. Will be interesting to see what lockdown does in terms of announcement timings etc.

[mach100] 05/1/2021 11:37

Good call Wasp on results. Nice jump yesterday which has put me modestly in profit. My 38p buy has skewered the performance but buys at 15 and 16p have helped me. No idea what prompted a 20% rise and sadly no follow on rise today but glad to see a correction in the share price at last.

[wasp8] 16/12/2020 22:26

No way will it be this week (or next). Never announce on a Friday - aiming for a Tuesday or Weds and they will assume the investor community has gone home next week. They have all the way until March as don't have to file stats until end of that month and need 21 days notice - look what they did for the Sept 18 results... I think they said 12 months interest free - its the other conditions that interest me. A lot of these come with blocks on dividends and other restrictions that don't help shareholder value...

[mach100] 15/12/2020 15:54

The British Business Bank's CBILS CBILS facilitates commercial finance to viable small businesses, who are unable to obtain the funding they need due to insufficient security. The borrower will always be 100% liable for the debt. Currently, there will be up to five months of interest-free loans available through CBILS, which may be attractive solutions of eligible businesses. However, the product is subject to affordability, so Think Business Loans recommends running any application for CBILS in comparison to another and being mindful of the potential drawdown timelines. Seems fair but Idk if Autins got this one. Just checking on whether results come out soon. Should be this month but can be delayed 3 months.

[wasp8] 15/12/2020 14:59

I can't see a Divi whilst they have CBILS, but may be wrong. You are right though, only a small divi and we should see a kick up in price. Need to understand the nature of those loans and the terms attached - disclosures will need some real careful reading.

[mach100] 04/12/2020 15:20

Fair points Wasp. It was 210p on listing first day after a 25% jump on the day. Over ten times the current share price so I argue that a lot of bad news is in the price today. If we get pleasantly surprised by the masks, flooring and car industry back in gear then none of that is in the price today. And companies paying down debt and reducing interest costs is something I like. Then they can pay a divi and come to the attention of income seekers.

[wasp8] 03/12/2020 12:51

Before Tax: Loss in 19 - £1,544k Loss in 18 - £1,734k Profit in 17 - £207k - but the JV made £190k so the rest was basically breakeven Profit in 16 - £186k - but this is after a technical gain of £327k on the acquisition of the other half of the former Swedish JV and £115k made by the UK JV, so the rest was a loss. So essentially loss making 3 of the last 4 years and marginal in the profitable year. And will be loss making this year. Profit before IPO was £899k so PLC costs have taken a toll. Debt is down £1.9m because the shareholders lobbed £3.5m in (£3.3m after costs). They had £3.5m net cash immediately after IPO - now c. £2.3m of net debt even after that additional £3.3m from the shareholders....