Avarae Global Coins Share Discussion Threads

[ammons] 25/7/2009 11:26

How do you value the coins in the collection whether your own or those in the AVR inventory?

[liarspoker] 11/7/2009 09:20

From PT in the FT. ;o)

' have grouped together my investment property and tangible assets, which include my collectables and physical gold holdings. I have also included in this category my shares in Avarae Global Coins. This is really a direct stake in a coin collection, and one that is still obstinately priced at a substantial discount to its underlying value.

Overall, my property and tangible assets represent around 27 per cent of my portfolio – a figure that might be understated slightly given the difficulty I have in getting a regular "fix" on the value of my coin collection. This is generally only possible once a year by scrutinising the newly-published Spink catalogue and, even then, it's an approximate exercise.

The issue to be addressed now is how and when I deploy the remainder of the portfolio – the 21 per cent that is in cash. I am planning to restructure my coin portfolio, perhaps by recycling bullion coins into sovereigns or other coins. I may also buy more shares in Avarae – I still find the discount to value on which the shares stand tempting.'

[liarspoker] 30/6/2009 21:10

Bought a few of these over the last few days.

Half the inventory, add cash and add 3/4 of receivables and subtract all liabilities and Avarae is still valued at less than that. Don't think coins of this caliber will half in value some how.

[rambutan2] 02/5/2009 21:34

KSF's administrators took control of the Elsina shares and sold them.

[zangdook] 02/5/2009 07:50

Apart from the two trades of 24.09m (and ignoring the small buy), all of the trades on 29 April add up to 24.09m again. Presumably one 24.09 is KSF unloading; the other may be some technical thing; the shares are then redistributed to buyers; 15m to AVR, 3.34m to NBL; 1.25m, 1.5m and 3.25m to we know not whom. The MM creamed off £1062.50 for their trouble. Of course this doesn't explain why the 1.5m was before the second 24.09m.

Anyway, the point is that since 3.25m is over 3%, we might expect a fourth RNS.

Did KSF own these shares for themselves? Are Elsina still in the picture?

[kiwi2007] 30/4/2009 06:34

Perhaps some sort of fancy bed and breakfasting operation by Elsina?

[zangdook] 30/4/2009 06:20

Presumably that is the 15m after hours trade. What to make of the two at 24.09m though? According to the significant shareholders list, only Elsina had that sort of quantity (I make it 24.03m).

"Elsina is ultimately owned by Investec Trust (Guernsey) Limited, as trustees for the Tchenguiz Family Trust"

[kiwi2007] 30/4/2009 06:08

Indeed, 72,000,000, that's the total number that showed on yesterdays various trades (around 8 and all at 5p'ish). However the RNS only mentions 15,000,000 ;-

" it made market purchases for cash of 15,000,000 ordinary shares of 1 pence each ("Ordinary Shares") from Kaupthing Singer & Friedlander Ltd (in Administration) for cancellation representing 14.54% of the issued share capital of the Company on 29 April 2009. The Ordinary Shares were purchased at a price of 5 pence each for an aggregate consideration of GBP0.75 million.

Following the purchase, the Company's issued share capital consists of
88,133,334 Ordinary Shares, with one voting right per share."


The total number of voting rights in the Company is therefore 88,133,334.

[zangdook] 30/4/2009 01:55

There are only 103,133,334 in issue. 70% of the company changed hands?

[kiwi2007] 29/4/2009 16:14

Over 70,000,000 AVR shares were sold / bought today at 5p each according to this site. I'd expect an RNS pretty soon if it's correct!

Edit: Company tells me to watch for one tomorrow.

[kiwi2007] 26/3/2009 12:13

Yes, zangdook - I agree, false alarm sorry- The 6.5p price and the 'dodgy shareholder' tally but not the other figures.
The 25% of shares they have just got permission to buy back would be nearer 27 million than 1.7.

[zangdook] 26/3/2009 11:48

kiwi
300,000 for £158,000 is over 50p each. AVR didn't get much above 10p last year, and it's never been above 15p.
(It floated in 2006, so the advfn chart showing it at £1 in 2000 must be confusing it with some other company.)

[kiwi2007] 26/3/2009 11:22

Picked this up over on FT Alphaville ... could it be AVR?

"Mr Bonnier pledged two million shares in a listed plc, 300,000 of which were sold last year realising £158,000. However each tranche of shares as they were sold led to falls in the share price, which combined with the falling stock market has meant the remaining 1.7m shares are now very difficult to sell, and at a current MTM price of 6.5p are expected to realise £110,000 at most. Smith & Williamson
Investment Managers are custodians of the shares and I am monitoring the price with a view to disposing of this holding."

Didn't mention Avarae Global Coins by name though someone has commented that it may be.

[badtime] 10/3/2009 23:54

I'm sure he bought some last year ..having mentioned it in his FT column thn

[kiwi2007] 02/3/2009 12:04

I just bought another batch but this time through HSBC's Investec brokerage and was charged 6.56 pence for 50,000 shares however the trade went through on the advfn screen at 6.463 pence - anyone know of a reason for the difference which sees me out by £48.50 ?

[zangdook] 28/2/2009 02:03

Avarae was trading at a considerable discount to NAV, but it's just popped up a bit on the news that they want to buy back some stock to try to take out the sellers who've been pushing down the share price

Still at a discount (NAV approx £11m, m cap just under £6.5m @ 6.25p). Then again, companies trading below NAV are ten a penny on AIM these days. DYOR.

[zangdook] 28/2/2009 01:54

This is to replace the old thread which didn't have daily charts, news etc. You can read it here:

[zangdook] 28/2/2009 01:52

Here's the new thread:

[zangdook] 28/2/2009 01:52

I've removed the charts since they don't show anything any more.

[kiwi2007] 28/2/2009 00:19

Double post - removed.

[kiwi2007] 28/2/2009 00:15

zangdook - I think that'd be a very good idea - it seems as if the originator, Hughey7, started this thread by mistake thinking AVR was Advanced Tech.

[zangdook] 27/2/2009 10:53

Hughey7, could you put a daily chart and news links on here? Thanks. If you're not around I'll start a new thread.

[kiwi2007] 27/2/2009 08:51

Since late 2008, your Board has been made aware of potentially significant
numbers of Ordinary Shares becoming available for sale from a small number of
Shareholders which, the Directors believe, is having a detrimental effect on the
share price of the Company's Ordinary Shares. Having consulted with some of its
largest institutional Shareholders, the Board is of the opinion that it would be
in the best interests of Shareholders to increase the Company's existing
authorities to make market purchases of Ordinary Shares from 10 per cent. to 25
per cent. of the Ordinary Shares in issue.


As at 31 December 2008, the Company had unaudited net assets of more than
GBP11.0 million, of which more than GBP2.0 million was net cash. The Directors,
and a significant proportion of the Company's Shareholders, believe this cash
should be used to acquire Ordinary Shares if such an opportunity arises in a
manner which increases the net asset value of the Company. The Directors intend
to use the authority granted by the Resolution to make opportunistic market
purchases of Ordinary Shares in order to increase the Company's net asset value
per Ordinary Share, which, at 31 December 2008, stood at approximately 10.9
pence (unaudited). The Directors will only exercise the authority to purchase
Ordinary Shares where they consider that such purchases will be in the best
interests of Shareholders generally and will result in an increase in net asset
value per Ordinary Share.

-------

I'm not surprised the price is falling - their brokers take the mickey when you try and buy - had to split a measly £3.5K order into two this morning and had to pay 6p for the larger slice. Unable to set a negotiated trade using Iweb.