Avanti Capital Share Discussion Threads

[growbag] 02/11/2004 13:58

What is a parachuting club doing investing in stocks like Avanti?

Time to bale out? :-)

[arthur_lame_stocks] 02/11/2004 13:27

That's Adam Pelled's co.

I think he's been posting on this thread

[mali7] 02/11/2004 12:16

Well they invested another £50,000 where they belive the growth is.

[baggywrinkle] 02/11/2004 12:08

Obviously taking a flyer.

[growbag] 02/11/2004 11:27

According to todays RNS, the following company now owns over 3% of the shares:

AVIATION ADVENTURES LTD
Area: LONDON
9 WIGRAM ROAD
LONDON, E11 2LF


Our category listings:
Parachuting : Clubs and Associations : England


A parachuting club apparently. The mind boggles!

[langland] 19/10/2004 08:17

Results out. First impressions....share price for the most part backed by cash. Main investment in PNN performing well. 'Real' NAV is probably nearer to 230-240 allowing for uplift in Mblox and PNN. Share buy back envisaged which should boost NAV.. would imagine that they would be prepared to pay up to 180-90 for the shares. Will try and post more later.

[jeffian] 18/10/2004 23:33

......or not, as the case may be.

Regards, Ian

[mangal] 15/10/2004 15:42

Almost 15% rise from yesterday- looks like some good news is expected on Monday.

[langland] 15/10/2004 08:23

Nice start to the day with results coming out Monday. Technically, it looks like we could run back to the 180 top.

[lodgey1973] 12/10/2004 08:59

Does AVA still have an investment in Business Serve?

If so then this is relevent.

Cheers,
Lodgey.

RNS Number:9569D Business Serve plc 12 October 2004

BUSINESS SERVE ACQUISITION, PLACING AND TRADING UPDATE

Business Serve plc ("Business Serve" or "the Group"), one of the UK's leading ISPs (Internet Service Providers), has today acquired the telecommunication group of affiliated companies, Pipemedia, which comprises Pipemedia Limited, Pipecall Limited and Pipemedia Communications Limited.

Pipemedia is one of the UK's market leaders in the provision of Voice Over Internet Protocol (VoIP) and broadband telephone services to both corporate and carrier customers. Its acquisition enables Business Serve to transform into a converged communications provider spanning both the telecommunication and ISP marketplace, as well as providing immediate access to a new and rapidly growing customer base.

Business Serve has acquired Pipemedia for an initial consideration of #300,000 together with 692,841 ordinary shares of 1p each. In addition to the initial consideration, deferred consideration of up to a maximum of #1.5 million, settled equally between cash and shares, may become payable over the next two years, should Pipemedia achieve certain performance targets.

The cash element of the acquisition has been funded by a placing of 2,288,479 new ordinary shares at 43p per share by Teather & Greenwood raising approximately #1 million before expenses. This represents approximately 10% of the Group's issued share capital. Certain Directors of the Group participated in the placing, together subscribing for approximately 186,000 shares. Application has been made for these shares to be admitted to trading on AIM.

Pipemedia was one of the first companies in the UK telecoms market to develop a converged VoIP and traditional telephone service called PipeCall. PipeCall enables business and residential customers to make and receive telephone calls, without the need or cost of a traditional telephone lines, through the use of a broadband connection.

Subscribers to Pipecall pay a minimal set-up fee and a low monthly line rental charge. Business Serve anticipates that users will be able to make cost savings of up to 75% on their traditional landline services. Calls between Pipecall subscribers are free.

Based on unaudited management accounts Pipemedia had revenues of #2.64 million, a loss before tax of #122,000 and net assets of #150,000 as at May 31 2004. For the first three months of the year to 31 August 2004, Pipemedia's unaudited management accounts showed a profit before tax of #45,000 and net assets of #110,000.

The Group continues to trade in line with the Board's expectations.

Simon Cleaver, Chief Executive of Business Serve plc, said:

"Pipemedia is an extremely exciting acquisition for Business Serve. We will now be able to offer "a one-stop-shop" for the provision of both traditional ISP products such as web hosting and broadband, as well as telecommunication services such as carrier pre-selection and VoIP - with all the substantial cost savings that this new service brings.

"This acquisition enables Business Serve to become the UK's leading converged communications Group which differentiates us significantly from competitors within both the ISP and telco marketplaces. We will be able to offer new services to both marketplaces. Our immediate aim is to fully integrate Pipemedia so that we can concentrate as quickly as possible on the cross-sell opportunities between the two customer bases and take full advantage of the opportunities that are emerging from within the VoIP marketplace.

"In the same way this emerging technology has transformed the USA and Japanese telecoms market, it is set to do the same for the UK, which makes for an exciting future for Business Serve."

12 October 2004

Enquiries: Business Serve

[growbag] 11/10/2004 12:59

Still no results. I wonder what's going on. No share activity either.

[lodgey1973] 07/10/2004 16:14

I notice that Ponana have a new design website....very swish.

www.ponana.co.uk

[growbag] 07/10/2004 09:50

Er. Hello. Results? Just a week and a half overdue now. Wakey, wakey.

[jeffian] 05/10/2004 10:56

adam,
a) I don't know. It's a long time since I looked in any detail at what's going on here but my immediate cynical thought is 'yes, and who were the big warrant-holders?' (in the days of the glamour-boys Bilton/Aspinall, the Directors were certainly huge warrantholders), but I accept that I make that statement from a point of view of spectacular ignorance!
b) Maybe. If only they were there when I needed them! Whether there is still 198p in the bath when the plug is pulled is a moot point.

As I say, I haven't really looked at this seriously for ages, so take all this with a pinch of salt!

Regards, Ian

[adam] 05/10/2004 10:43

jeffian/growbag. if so then a) why did they buy back warrants very recently at a premium to exercise price? b) will not Laxey's pull the plug?

[growbag] 05/10/2004 10:41

Jeffian - :-) I know what you mean. Actually, I think your scenaria of falling NAV is more likely. I forgot what a pile of $%£^ this stock is for a minute there!

[jeffian] 05/10/2004 10:32

growbag,
Refer to previous posts. When I was a shareholder a few years ago they had NAV around 325/350? (pre-consolidation), mainly in cash. They have a long track record of 'investing' shareholders' cash and making it worth...errr...less! I shall be interested to see the results; the gap between the share price and the NAV may indeed narrow (but not necessarily because the share price moves!)

8-)

Regards, Ian

[growbag] 05/10/2004 10:17

So where are the results then? Should have been out by now. Noticed in the interims that there was 198p per share NAV. If they can turn in a profit then hopefully we'll see the gap narrow.

[growbag] 01/10/2004 17:36

It will be interesting to see how close to the mark you are in your calculations when the results come out (next week?). The figures you put up looked pretty sensible -- there may be some life in the old dog yet!

[arthur_lame_stocks] 01/10/2004 16:36

growbag

Not yet, still watching

[growbag] 01/10/2004 11:41

Arthur_Lame_stocks - Interesting analysis in your post. Did you take the plunge in the end?

[langland] 01/10/2004 08:25

Rang company few days ago. Board meeting next week so soon after that presumably.

[baggywrinkle] 06/9/2004 13:51

Arthur

Am also looking at AVA.

From June 2003 annual report:

1: Only "significant shareholder" was Galloway Ltd with 77.8M 1p shares =12.5%.

2: Five directors each have options to buy 25 Million shares of 1p (note this and the above are prior to 60 for 1 consolidation) at 2.5p per share subject to the company's share price reaching specified targets ranging from 3.375 to 6.75p per share, or
alternatively, the "adjusted net assets" of the group reaching specified targets ranging from £30 to £60 million.

Of the 25M granted to each director, 5M are currently exercisable at 2.5p

Options become fully exercisable on change of control.

Have not checked whether any of the above have changed since June 03 report.

Hope this helps