Axeon Share Discussion Threads

[tomboyb] 20/4/2009 18:10

"The board confirms that it continues to enjoy the support of this lender and
looks forward to announcing to the market the outcome of these discussions in
conjunction with its Preliminary Results. "

bad luck shareholders considering the above was only weeks back. what is surprising is the increase in share price prior to administration. maybe shorts closing?

[robson1974] 20/4/2009 18:03

oh well, looks like we will have to wait for New Axeon aka AG holdings to come to market or Modec for alternative EV plays to TAN

[logica2me] 20/4/2009 17:58

35% ?? It went up over 100% from last week if you look at the chart !

[pugg1ey] 20/4/2009 17:55

why did the share price go up 35% if this was going to happen?

[robson1974] 20/4/2009 17:01

No, i guess shaming them is the only alternative to them showing some charitable inclinations. I suspect existing Axeon employees and management might want to protect their jobs at New Axeon so would not want to cause a fuss. But these distressed debt investors have thick skins and appealing to their 'moral' side is normally worthless as they do not have one for professional purposes.

[boffster] 20/4/2009 16:32

You could argue that by acting in this manner Ironshield are effectively working against the advance of green technology by screwing over investors and thereby stifling future investment. Wouldn't be good publicity would it?

[robson1974] 20/4/2009 16:25

true, but the last one stated it thus or with words to the effect 'enjoy the support of their principal lender'

[blackbear] 20/4/2009 16:22

ongoing discussions regarding debt were mentioned in an RNS at least 3 times previously.

[robson1974] 20/4/2009 16:18

Well put Boffster, but i'm afraid axeon management are as much victims of this as us, you might well direct your question to the administrators and ironshield

[boffster] 20/4/2009 16:10

Sent to axeon

Dear Sir or Madam



Until the administration and subsequent sale of Axeon I was a shareholder in the company. I have a couple of questions, I wonder if you can answer one or both: -



1) Since the sale of the business occurred almost immediately after the appointment of the administrators, it seems unlikely to me that the administrators have explored all avenues to maximise value for its shareholders. Can you clarify?



2) Can you advise the consideration that the business has been sold for?





Regards,

[the_beagle] 20/4/2009 15:15

100,000 sell just announced (not a late reported deal) at 11.875. What do you make of that. Wish it was mine!!!

Arbuthnot's resignation very abrupt. Also Nomad to TAN. Any possible connection? Conflict of interest perhaps. Whole thing stinks.

[boffster] 20/4/2009 15:14

Look at the bottom of the 'Investor Relations' page on the axeon website.

Kind of apt?

[m.t.glass] 20/4/2009 14:53

Further to the appointment of administrators to the Company, the Board of Axeon announces that it has today been notified by Arbuthnot Securities Limited of its resignation as nominated adviser and broker to the Company, with immediate effect.

In the event that a replacement nominated adviser is not appointed by the
Company within one month, the listing of the Company's shares on AIM will be
cancelled.

[boffster] 20/4/2009 14:52

I notice we also have the administrator's phone number, perhaps someone more knowledgeable than myself could give them a bell?

[m.t.glass] 20/4/2009 14:51

Does this change of circumstance disqualify Axeon from any particular govt subsidy or grant that might have been about to come their way? I presume not.

[robson1974] 20/4/2009 14:44

Or call/write to Ironshield

150 Minories
London
EC3N 1LS


Registered Office:
150 Minories
London
EC3N 1LS

Registered in England NO. OC320528



Tel: + 44 (0) 207 464 4223

Fax: + 44 (0) 207 464 4220

[boffster] 20/4/2009 14:39

I may drop the UKSA a note and see what their take is.

[scoby doo] 20/4/2009 14:35

the have conducted themselves really does stink again if i was a large shareholder id see you in court ironsheild...

[willoicc] 20/4/2009 14:33

How can the Administrators claim to have received the absolute best price for the company when they sold out within hours (minutes) of their appointment?

Shareholders should complain to the Institute of Chartered Accountants.

Not that it will do any good.

[robson1974] 20/4/2009 14:30

GhaoN, No, that is just standard wording.

[robson1974] 20/4/2009 14:28

beagle, there may have been conditions in the debt covenants which allowed Ironshield first option in event of administration so unfortunately for the moment it is best to assume the worst, the administrators were called in by Ironshield for a reason

[ghaon] 20/4/2009 14:28

Perhaps clutching at straws here but didn't the RNS state 'temporary suspension'. Any chance this could be re-listed now that the deed is done i.e. buy-out by AG?