I received a reply from the company today just affirming the price drop was due to shares sold as we know |
I think it easy to be clinical here if you don't know the full facts.I don't think anyone could have forecast one plate would fail during the official testing.The pretesting went with out any failures I was told at last years meeting. Also the plate that failed was from an oblique shot and it was not a complete structural failure.Anyone who has sold anything knows if there is no market for what your selling you need to drop the price.Who knows what the costs would be to keep the facility running. |
I think we can assume they gave it away for peanuts. The scandal is that it is only 3 years since they paid 3M up to £100m in cash for the business in what we can now see was a deeply flawed transaction resulting in an almost total write-off. Either they were legged-over by 3M who knew of the problems and decided to unload the business before anyone found out, or Avon failed in their due diligence. Either way, management have not been properly held to account. The CFO stood down last year "for personal reasons" (stress, I should imagine!) but the Chairman and CEO seem to feel it was nothing to do with them. |
Yes no doubt. Why do they have to be so cryptic? Just leaves people with distrust and more questions!!
At least we know it won't be an overhead by the end of next year |
Modest cash consideration huh. Fire sale no doubt IMO. |
No reply from the company but I think we know why the price dropped.Looks like we have break out |
This fund added 1.5 % to its holding
Alantra EQMC Asset Management SGIIC, S.A. |
Looking at the future arms replenishment program for countries in and joining NATO along with many other countries which recognise Avon as producing some of the best products on the market this is a great opportunity to grab the shares at a discount.I can see the US bidding for the company to bring the technology in house so to speak. |
Maybe a new fund mgr and changing focus who knows |
Dumped their entire holding huh? Makes you wonder why they saw so little value/ no future |
I would suggest that it looks more like a strategic move by the fund mgr rather than fundamental issue with the company |
Clumsy stuff from Fidelity....question is who took the shares? |
So it was Fido who sold down their holding from 6.4% to zero. |
FMR LLC sold 6% their holding which explains the move I guess |
Waiting for a reply from Avon we may get a release statement |
Agreed that was mechanical. The company need to make a statement |
I'm not sure that's right as it was effectively announced in 2020 so it was a purely mechanical announcement of a release of previously announced shares. i.e. I'm not sure that it would have been stopped if they had material new information. |
I reckon that they did that - ie no material change here - with that RNS at 14.00hrs yesterday; if there was, they would have had to say something at that time. That was a nothing RNS, so no need to release intraday? |
Still nothing from the Co this morning. |
I didn't top up be added a few to ease my offside position, still offside. |
Statement from the company would be helpful saying they are no fundamental reasons for the price drop..! |
Prob someone caught up in crypto issues and needs zee cash.! Over sold!! |
Avon Protection was under the cosh on Tuesday after a share placing.
According to traders, JPMorgan placed 1.8m shares for an undisclosed institutional seller at between 1,061p and 1,100p.
At 1110 GMT, the shares were down 12% at 1,036p.
Avon specialises in the engineering and manufacturing of respiratory protection equipment for military, law enforcement and fire personnel. |
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