Axeon Share Discussion Threads

[aja5] 24/2/2009 10:29

If they have the technology they will be taken out imho

[spekky] 24/2/2009 10:28

The overall number of trades is way ahead of this time yesterday but I can't find any publicity relating to yesterdays event other than the website.

[aja5] 24/2/2009 08:58

Looks that way !!!

[eggbird] 24/2/2009 08:57

Looks like it is up for another very strong day again here!
Im guessing it must have picked up some decent press after yesterdays news.
An RNS repeating the basics from yesterdays website update would be nice now 8-)

[spekky] 23/2/2009 19:17

LordoftheLand

Thats a point I hadn't considered,but, I will probably take my clues from the Northern Wreck scenario.Bank gets nationalised then no more mortgages available,then they realise thats how banks make money (in theory) so now 14 billion available,they will eventually learn all lessons.

[spekky] 23/2/2009 18:15

Would be nice to get some external validation of whatever it was that happened today,so far its just Axeon saying nice things about an Axeon product,I don't really trust the energy savings trust to test things in a proper way.AXE say the product is twice as efficient as it was 2 yr ago, E.S.T. say well done chaps.......end of story.It suits me to have a small punt here versus money in bank earning sod all.
AND by coincidence and completely TANgential,one of my favourite Bob Marley songs is Small Axe.

[m.t.glass] 23/2/2009 17:03

Not locked in at all I would guess. Modec boss Lord Borwick interviewed for last Friday's Birmingham Post said one of the obstacles to their own sales progress was business failures among suppliers, which had forced 3 or 4 changes in who they work with. That doesn't relate to Axeon but does suggest that Modec do find it necessary to chop and change - in which case I presume they are careful not to sign up for anything they can't get out of.

[spekky] 23/2/2009 16:54

I presume todays event will generate some further press,I wonder to what extent Modec are "locked in"........(by design issues)...perhaps not at all.

[m.t.glass] 23/2/2009 15:43

Like others here, I was watching for a possible RNS today regarding the overnight Scotsman article - but just been pointed out to me by LordOfTheLand on the TAN thread that confirmation is on the Axeon website

[robson1974] 23/2/2009 15:41

so let me get things straight from the last trading statement

the enterprise value of the company is £10m (market cap + debt)
but it has net assets of £2m cash - £8m debt - £10m trade credit + £21m stock

so once they convert their stock into cash they will have net assets of £5m ? versus a market cap after todays rise of only £2m?




Cash at 31 December 2008 was GBP2m (2007: GBP12m). Borrowings at 31 December
2008 were GBP8m (2007: GBP6m) with the movement caused entirely by currency
fluctuation in the year on these US dollar denominated loans. The Company
continues to enjoy the support of its principal lender and, since it continued
to operate at a loss during the final quarter of 2008, has reached agreement on
a covenant waiver until the end of February 2009. The Company will seek a
continuation of this waiver.


Stock levels at 31 December were GBP21m (including GBP10m financed by customer
trade credit) compared to GBP9m at 31 December 2007. This was more than
originally anticipated in both the UK and continental Europe. The Company has
actively developed and implemented a plan for rescheduling deliveries and
controlling inventory levels since September when customers first indicated
significant demand changes. Some of the higher stock value is caused by currency
fluctuation. The directors are confident that they will be able to convert a
significant portion of working capital to cash over the course of the year.

[wywcu1] 23/2/2009 15:15

Saw these on the TAN thread and just picked up 50k at 5.79p.

[spekky] 23/2/2009 15:06

Well I would have thought they should comment on the share price movement if nothing else.The caveat is the journo,you have to take them with a pinch of salt sometimes,fingers crossed there is some meat to the story.Finances need sorting but worth a punt IMHO...........thanks for the story anyway MTG.

[eggbird] 23/2/2009 15:00

Axeon looks to power ahead

Published Date: 23 February 2009
By Hamish Rutherford
(scotsman.com)

AXEON is expected to unveil a new lithium battery today that could double the range of electric vehicles – the fruit of a two-year development programme.


Does anyone expect the news above to be put out in an RNS today / tomorrow??

[boffster] 23/2/2009 14:42

Had a dabble as well, wishing I'd had more of one! Thanks for the heads up MTG.

[spekky] 23/2/2009 14:14

"little dabble"......me too,seems a reasonable way to put some eggs in the Modec basket.

[m.t.glass] 23/2/2009 11:33

Afraid I haven't been following most of them closely enough to put them in any sort of order regarding value. Sorry. As a momentum trader I watch newsflow rather than accounts, and I merely climb aboard whichever one is moving - then jump off when it stops.

[m.t.glass] 23/2/2009 09:18

- my international team of researchers work through the night on my behalf ;o)

(if only)

[frankiestheone] 23/2/2009 08:58

morning MT. thought I might find you over here. had a little dabble this morning. good to see a british company ahead of the game, if it's all ok we could have an exciting industry in this country. given the right link ups(tan) and investment what we need now is a branson to get them all together.
on a personel note, your research skills are amazing, how on earth do you do it

[m.t.glass] 23/2/2009 05:09

Axeon looks to power ahead

Published Date: 23 February 2009
By Hamish Rutherford
(scotsman.com)

AXEON is expected to unveil a new lithium battery today that could double the range of electric vehicles – the fruit of a two-year development programme.
The Dundee-based clean-energy company also told The Scotsman that Axeon saw no reason to suspect its lead investor would not extend its credit lines beyond the end of this month.

In early 2007 the company, which is developing batteries for electric cars, delivery vehicles and buses, received funding from the Energy Savings Trust to develop products that use a new version of lithium-ion technology.

When it announced the programme, Axeon said the new technology was cheaper, safer and could offer a threefold increase in life compared with earlier lithium-ion batteries. Today it is expected to reveal that the new batteries will "significantly" extend the range of the Modec delivery vehicle, which uses Axeon's batteries.

Axeon predicted in early 2007 that, using the new technology, the range of Modec vehicle's could be more than doubled from 100km, to around 250km, with the vehicle able to accelerate from a standing start to 80kmph in 18 seconds.

Meanwhile, the company played down the significance of the fact that its principal lender had only agreed to waive breaches of its loan covenants until the end of this month.

Earlier this month Axeon warned that it was set to post a £3 million operating loss for 2008 and that it had been granted waivers over its bank debt until the end of February. New chief executive Lawrence Berns has held meetings with its principal lender, Ironshield Capital Management, in recent weeks.

But a spokeswoman said the meetings were simply regular contact it kept with leading investors. The spokeswoman said: "They're (the investors] very supportive and we would have no expectations that those covenants would not be extended."

Axeon has built an impressive range of potential customers, developing batteries for manufacturers ranging from Daimler Chrysler for its Smart car, to German sports car specialist Ruf. But Axeon's development has been hit by a slowdown in sales of batteries for the power tool industry – its largest market – and a slower than expected growth in sales of electric vehicles.

Berns said that on taking a prudent view and a major cost-cutting drive, he believed Axeon could achieve at least break-even in 2009.

[m.t.glass] 14/2/2009 21:20

Towards the end of that Feb 2nd trading statement, Axeon mentioned Tecnobus. Tecnobus have been running a 6 month trial of Axeon batteries. That trial I think reaches completion within the next 2 weeks or so.

[m.t.glass] 02/2/2009 07:31

extract from today's Trading Statement from battery maker Axeon (AXE):


Automotive
While the longer-term outlook for Automotive remains encouraging, it has taken
our customers longer than they had anticipated to establish a market for
electric commercial vehicles, and therefore 2008 has seen slower demand in this
segment than expected.


Key events during 2008 were as follows:
* Long-term supply agreement completed with Allied Vehicles followed by the
delivery of prototypes and the first 25 production units to date.
* Completion of the Modec Hi-bex longer-range battery prototypes. Modec Lo-bex
batteries continue to be deployed, and with recent Modec orders from Fedex and
UPS, there appears to be a strengthening of the order pipeline for this product.
* Delivery of prototype batteries for Ruf GmbH (electric sports car), Tecnobus
(electric bus), an electric city car, an electric scooter, two heavy-duty
plant projects and a materials handling project.

[simonparker5] 09/1/2009 12:37

Good rise today, fall looks overdone. Trading update to be released this months so we will have a better picture of how things look. These guys had over £4m in cash at the last results which alone values them at 8p.