Avanti Capital Share Discussion Threads

[brwo349] 16/5/2016 09:20

The provision for the carried interest will not be payable to Octopus because mBLOX was sold at a loss.

At this stage I expect 40 pence per share to be returned to shareholders.

FROM THE INTERIM RESULTS

The above figures have been arrived at after including a fair value adjustment in the carrying value of the investment of £1.33 million and a consequential reduction in the provision for the carried interest of £530,000 or 6.60 pence per share. Also included is the provision for management fees of £79,000 or 0.98 pence per share. The payment of such carried interest and management fees are dependent upon the realisation of the individual assets and,
in the case of the carried interest, being at values which are, at least, equal to the values stated in these interim results.

[brwo349] 16/5/2016 09:17

FROM THE FINAL RESULTS

Returns and Distribution Policy

It is anticipated that returns from the company's investment portfolio will be in the form of capital upon realisation or sale of its investee companies.

When realisations are made, the directors currently intend to use the proceeds to return monies to shareholders in the most efficient manner available.

[tell it as it is] 15/5/2016 23:06

Does the company have anything left other than cash now ? Time to do the decent thing, stop all the director fees, return the cash to shareholders and wind the company up ?

[5baggersrus] 13/5/2016 14:27

Same will happen to PIRI when they realize fair value on their main investment

Congrats all getting in before the RNS

[bozzy_s] 13/5/2016 14:11

There it is, $3.8m in cash = £2.6m.

Nice for anyone who bought before the RNS - looks like a few knowledgeable peeps on this BB knew the news already.



Edit - £1.3m cash on balance sheet too. Well done to buyers at under £2m mkt cap - paying 50p for £1 coins!

[whealan] 13/5/2016 13:14

Could be. That would still give us a share value of around 59p however,including the 20p of other.

[orinocor] 13/5/2016 13:07

maybe the mblox value in the results will be close to being right

[orinocor] 13/5/2016 13:05

the market cap of ava

[whealan] 13/5/2016 13:02

orinocor

Where does £1.5m come from?

[orinocor] 13/5/2016 13:00

mblox had another fund-raising in 2011 for an "unspecified amount"

[orinocor] 13/5/2016 12:46

just did some research.

AVA had 7.9% in 2006 when they contributed to a $25M fundraising

Since then I can only see one other fundraising which was in 2008.
AVA did not participate. $22M was raised.

I think whelan is broadly right then in estimating 7% but do not take my word for it.

7% of $115M is a lot more than £1.5M!

[whealan] 13/5/2016 12:42

Adam

That is very good news and worth the long wait.

Do you have a handle on the numbers? My memory tells me that we have about 7% of mBlox. The current written down book value of £3.1m equates to 39p per share according to the interim statement. The acquisition is however debt free and I don't know how this might affect the net value of our share of the sale proceeds. There will also be a carried interest adjustment. Before adjustments for debt and carried interest the mBlox holding would be worth a gross value of around 70p per share if I'm right about the 7%.

Do you think this is the right ball park?

[orinocor] 13/5/2016 12:18

what year was that?

[snape] 13/5/2016 12:14

Looking back AVA owned c.7% of Mblox a while back though this may now be lower. Surely this will bag when the RNS comes out?

[orinocor] 13/5/2016 12:14

what % do ava have of mblox?

[adam] 13/5/2016 11:50

CLX announcement in full

[whealan] 03/2/2016 18:41

I mentioned in post 618 that I was keeping an eye on Voltari (Nasdaq)as a proxy for mBlox. I see that they have come out of the mobile advertising business and are now a real estate company. Less competition for mBlox with Carl Icahn just using Voltari as a quoted vehicle for real estate investment. It may of course reflect his reading of the mobile market but it is so small for him that there is probably some personal reason behind it.

[mjcrockett] 03/11/2015 19:21

Adam, I thought the same as you when I first looked at the results. However, if you look at the Mblox Limited accounts for 2014 on the Companies House site you will see why they cannot book anything more for them - the results can be viewed free on the Companies House beta site at - these results show Mblox limited recording a pre tax loss just in excess of £8 million in 2014.

[adam] 03/11/2015 18:42

A very strong statement on mBlox in the FY results released today. Yet, Avanti not booking anything:-

Notwithstanding the positive report from Mblox management and, as previously reported, in view of the lack of any further validation events, the board of Avanti Capital plc have decided to continue to carry the group's investment in Mblox at cost

[whealan] 23/9/2015 11:17

Tell it as it is. Yes, I found that and should have posted it. Avanti of course has shares in the parent company mBlox Inc which presumably dwarfs their UK subsidiary and this is where the financial trail stops.

I keep an eye on Voltari (NASDAQ:VLTC) a quoted American company which appears to be in broadly the same business, and in which Carl Icahn has fairly recently increased his stake substantially. This is subject to periodic takeover fever as a result and is consequently volatile but by looking at the ADVFN bulletin board and their public announcements I feel I am staying a little bit closer to the business mBlox is in.