Avanti Capital Share Discussion Threads

[lodgey1973] 21/4/2005 12:55

Down and down we go.......:(

[lodgey1973] 06/4/2005 13:08

Howdy,

All gone quiet on this one. Are we all waiting to see what price Barvest sells Po Na Na?

Anyone heard any useful info?

Cheers
L.

[currypasty] 24/3/2005 14:45

bouncing back nicely now

[regalrealm114] 24/3/2005 10:05

I sold my 180 shares and bought 248 IBB with the money cant do any worse than holding onto AVA, I was robed once and probably will be again hey but that's life good luck to you all, after the e-capital fiasco I was looking to hold AVA for about 20 years to get back my initial investment would be to old to enjoy the money then so opted for the new adventure that is going to take off.
Regards E.

[rajut] 23/3/2005 09:03

Hello Everyone,

Any idea what is causing this big drop today?

Cheers,
Raju.

[adam] 19/3/2005 21:04

apparently mentioned in Friday's Mail that a done deal. See iii board. I have not read the article.

[currypasty] 18/3/2005 08:03

a bit of buying and a tick up, perhaps been mentioned in press?

[adam] 17/3/2005 15:34

I would compare mblox to WNN. I think mblox BV about right (15p) until floated. Times has a piece about Luminar disposals, and indicates on a per-venue business that Barvest is good value at £15m. However ponana more dated brand, so maybe should attract a discount.




The 90 Chicago Rock and Jumpin Jaks units, which make up Luminar's entertainment division, have a book value of £120 million and deliver earnings before interest, tax, depreciation and amortisation (ebitda) of up to £30 million. The group is also close to selling a package of 53 poorly performing unbranded sites for about £30 million, possibly to management, and has sold 15 outlets individually for about £10 million.
The announcement takes the total number of venues that are either being sold or are likely to be sold to 164. Luminar revealed that, as a precursor to a potential sale, it had written down the book value of those assets by about £50 million, to about £155 million.

I think there are 28 bars, which at £15m is £530k ea. As they were cherry picked from the ponana debris it would seem probable that they are not dives.

[arthur_lame_stocks] 17/3/2005 10:46

I make the current market cap a touch over 18m.

So if your figures are OK re current cash position then if Barvest is sold Avanti will get 1.9 (plus interest) from the loan notes which would give them about 14m in cash.

So if their equity stake from the disposal works out to 4m or more then the shares are entirely backed by cash with the other investments thrown in for free.

I make this an EV for Barvest of 11m (5.5m debt plus 73.5% of 5.5m).

Anything over 11m should leave them at a discount to cash.

I wonder what mblox is actually worth.

Arthur

p.s tax free presumably too

[adam] 16/3/2005 15:23

According to The Times ~£15m, though presumably that includes the debt.



Assuming £15m inc debt, then working from Y/E unconsolidated balance sheet

Barvest equity £0.6m (60% of barvest)
Barvest bond £1.7m (37% interest)
Mblox etc £2.2m (80% value is mblox – holding 7.7%)
Debtors £1m
Cash £13.2m
Creditors £(0.7)m
Total £18.7m

Post BS, repurchase of shares, 460k @ 190p = £885k, 9.91m shares issued. Thus cash before interest/expenses £12.3m allowing for buyback.

Subsequently bought Phelps' 13.5% but we aren't told at what price - assume book value at most as seems to have left under a cloud, thus 0.135 x £1m or £135k. There was no indication of the amount of loan stock from Phelps, but acquired at par, say £200k (There was only £1.9m on loand with £1.7m accounted for from Avanti).

Thus cash will have reduced by 885 + 135 + 200 to £11.98m, say £12m before interest and costs £1.21/sh.

Barvest had net current liabilities of £1.1m, bank loans of £2.5m and shareholder loands of £1.9m, say £5.5m. If £15m refers to EV then equity valued at £10m, or £7.5m to Avanti (75p / shares) Current BV is £0.75m or 7.5p.

mblox more interesting still as has raised funds for expansion, most recently this was $7.5m bond finance from Orix


So soon after equity financing this implies good trading.

Hence NAV with Barvest uplift but not for mblox would be
121p cash, 19p Barvest bonds, 75p Barvest equity, 22p other equity inc mblox.
Total ~237p. I have not allowed for Barvest assets apart from working capital adjustments, but assume these would be written down.

In a glib one line comment Watshot say sell.

[currypasty] 14/3/2005 12:45

Next question... what are they worth ???



AVA mcap is 18.8 mil, by the way.

[currypasty] 14/3/2005 12:42

RNS Number:7102J
Avanti Capital PLC
14 March 2005



Avanti Capital plc ("the company")


The Company notes recent press speculation regarding the potential disposal of
Po Na Na, in which the Company owns 73.5% of the fully diluted equity. Following
a number of approaches, the Company can confirm that it has appointed advisors
to handle the sale of Po Na Na.


Contact:

Avanti Capital plc 020 7070 7070

Julian Fellerman , Joint CEO

Richard Kleiner, Joint CEO



www.avanticap.com

[currypasty] 14/3/2005 08:13

By: Phil Cozens, Stockmarket Correspondent Printable Version









* Po Na Na nightclub chain being put up for sale by Avanti Capital

[oligoad] 14/3/2005 08:03

what are principal investments thus far ???

[pparkin405] 13/3/2005 12:32

Something on citywire about wanting to sell Po

[currypasty] 02/3/2005 07:57

02 March 2005

Avanti Capital PLC ("the Company")

Notification of holdings



The Company has been notified that Gartmore Investment Management plc, on behalf
of clients, holds 610,169 ordinary shares in the capital of the Company which
represents 6.15% of the issued share capital of the Company.



It looks like several institutions picked up Laxey's shares

[lodgey1973] 26/2/2005 01:25

For an investment company, Avanti don't seem to be doing much investing of late.
(Except in their own company shares!)

I believe that news on new investments is the only way we will see the share price rise any further.

[currypasty] 25/2/2005 09:19

25 February 2005




Avanti Capital PLC ("the Company")


Changes in shareholdings and share buy back


The Company announces that its broker Collins Stewart has secured buyers for
2,165,006 existing ordinary shares in the capital of the Company at 190 pence
per share. The seller was Laxey Partners Limited.


Existing institutional shareholders, together with new institutions have
acquired on market 1,705,006 ordinary shares.


The Company, pursuant to the authority obtained at the Annual General Meeting on
11 November 2004, has purchased for cancellation 460,000 ordinary shares in the
capital of the Company at 190p per share.


Richard Kleiner Joint CEO commented:

[mali7] 24/2/2005 23:52

Yep, next target the 200p level, reaching ????

[currypasty] 24/2/2005 18:07

and now that lot is out of the way, the price can move up

dont forget the results NAV doesnt take the tax loss benefit into account, probably worth 30p

[blueblood] 24/2/2005 13:37

What the bloody hell was that. 20% of the co just changed hands the only explanation I can see is Laxey sell out to another institutional buyer.

[langland] 24/2/2005 09:31

FWIW I did too! However, someone must want the shares since i have sold 18k in 3 lots this AM without any problem.

[arthur_lame_stocks] 24/2/2005 08:58

I thought the results were a bit unimpressive too.

[blueblood] 24/2/2005 08:56

Neither am I. I've finally thrown in the towel on these after being in and out since e-cap days. Barvest EBITA of £598k for 26 weekd did it for me as they made £2m in the previous 45 week reporting period and the broker's note was looking at £2.5-£3m for this year. The only reason I was tempted to stay was the fact the share buyback does not seem to have started yet (they probably want lower price). Good luck to all who continue to hold.