Optare Share Discussion Threads

[maltatrader] 04/1/2015 09:22

hxxp://www.timesofmalta.com/articles/view/20150104/local/new-bus-operator-to-use-leased-uk-buses-instead-of-ubs-coaches.550527

lets hope the new buses are being ordered from optare :)

[kimoldfield] 20/12/2014 11:31

Well, as it is that time of year again, I will wish AL and Optare a Merry Christmas and a very happy and prosperous New Year! Same too to everyone! :o)

[jsbach123] 20/12/2014 10:22

Don't think that Optare do any serious original non-replicated R & D Kim; many other major bus manufacturers are doing similar with hybrids and selling them in volume plus Optare's claim to be leading the electric field in Europe is open to question IMHO. Understand the suggestion that AL may be using Optare to access technology but also IMHO that is just further spin to distract from the disastrous record of manufacturing consistently at a loss while the debt mountain and interest payments increase.

[kimoldfield] 20/12/2014 08:39

AL are keen to retain Optare as a Research and Development unit as well as a sales unit and, apparently, are looking at benefits only in the long term. They (quote from the Business Standard) "hope that Optare will help it access future technologies, including in hybridisation". They may at some point of course, sell off Optare as a non-core asset. I have bought a piggy bank and I'm putting a fiver each week in it!

[jsbach123] 20/12/2014 08:00

As IMHO it is unlikely that Optare can trade their way out of debt this additional loan is to keep the company going for a few months while AL determine how to exit perhaps? MTG crutches (or perhaps singular crutch) seems apt.

[kimoldfield] 19/12/2014 12:11

Loads of orders, pay off the loans, pay a dividend.........er, oh hang on, Santa is trying to climb down my chimney!:o)

[m.t.glass] 19/12/2014 11:56

Right. So AL not throwing in the towel. They've lent Optare a pair of crutches to stop them falling over. Optare now owe even more money. What's the next move?

[kimoldfield] 19/12/2014 11:20

RNS re new loan facility:-

Optare receive loan from Ashok Leyland for future product development

Optare announces that it has today entered into a £1.5 million loan facility agreement with Ashok Leyland (UAE) LLC (the "Facility Agreement"). The loan will be for an initial period of 12 months and be subject to an interest rate of LIBOR +3.5% per annum, with the proceeds to be used to support on ongoing corporate and operational working capital requirements.

Given that Ashok Leyland (UAE) LLC is a subsidiary of Ashok Leyland Limited, the Company's major shareholder, entry into the Facility Agreement is classified as a related party transaction in accordance with the AIM Rules. Accordingly, the independent directors, having consulted with the Company's nominated adviser, consider the terms of the Facility Agreement to be fair and reasonable insofar as the Company's shareholders are concerned.

[kimoldfield] 15/12/2014 08:39

I'm not sure MT, I know that Magtec are supplying the electric drives for the Metro City. Perhaps we should ask Vince Cable!

[m.t.glass] 15/12/2014 07:48

TEMPORARY SUSPENSION OF TRADING ON AIM

ENOVA SYSTEMS INC

Trading on AIM for the under-mentioned securities has been temporarily suspended from 15/12/2014 7:30am, pursuant to AIM Rule 1.


Do Optare have any ongoing link with Enova these days?
(Rule 1 relates to existence of Nominated Adviser)

[kimoldfield] 11/12/2014 10:03

Croydon's first pure electric 'emission free' buses hit the streets yesterday.

[kimoldfield] 09/12/2014 14:38

Indeed they will!

[m.t.glass] 09/12/2014 13:03

Or Italy's Tecnobus will get in first.

[kimoldfield] 09/12/2014 12:11

If I were Enrico Vassaloe, I would be in Paris now, knocking on the door of the Mayor asking for support to sell my lovely electric buses!😀

[spekky] 09/12/2014 10:59

Interesting proposals from Paris,not sure how achievable that is.

[m.t.glass] 09/12/2014 08:23

If Ashok do keep Optare, and keep its stockmarket listing (via which they can some day pull in more cash if they drum up a good enough message), I expect it will quite likely utilise the market listing and the Optare name for products other than buses - as a way of pushing their trucks etc into Europe. (I know they did withdraw from making Avia trucks in east Europe - but I suspect the indian-made version will return in its place).

[kimoldfield] 08/12/2014 22:38

Sometimes the dregs are the best bits JSB! :o) Ashok have been dumping some of their subsidiaries lately but Optare don't so far appear on their for sale list; hopefully Ashok have something good up their sleeve for our little company, preferably not a sharp knife!!

[jsbach123] 08/12/2014 17:20

Glass half full Kim for you even though it only has some dregs left in the bottom! Will Optare ever escape from the debt trap spiral? In light of these results I cannot see how they can. It is to me especially noteworthy and sadly not at all surprising that building new models has resulted (if I have understood the words correctly) in increased losses.

No announcement of any orders for the new DD.

Liabilities greatly exceed assets and much of the asset value is in intangibles. At the end of this financial year it will be an unbroken record of six consecutive years declaring multimillion pound losses. Debt increasing daily.

The question many PIs may be posing is 'what is Ashok going to do about this company?'

[kimoldfield] 08/12/2014 17:04

I think the message from the halfway accounts is simple - forget the past, look to the future. Haven't heard that before have we? We have?! Well, at least there are new products which appear to be more saleable than previous ones and Optare is the leader in full electric vehicles in the UK (where Optare has 100% market share) and Europe, so a disappointing, though not entirely unexpected, set of results does not mean the end for Optare, just a new beginning. Yes, we've heard that before too! I really am still optimistic that we will see an improvement by the end of the financial year so come on, let's all buy an Optare bus each! :o)

[cougar99] 08/12/2014 15:11

Trawling around can't find any mention of how many of the Bahrain buses will be from Optare .... If National Express can Optare for Bahrain then let's hope they can start buying some in the UK :-)

[cougar99] 08/12/2014 15:02

From the Half Yearly Report:

The export strategy is taking longer to realize than was originally envisaged, but the first tender for Bahrain has been successfully won. Optare continues to promote its products in export markets, to reduce its reliance on UK customers;

So this is the news report from October concerning this:

MANAMA: A joint venture between National Express (UK) and Ahmed Mansour Al Aali (AMA) will be the new public bus operator.



The buses will come in different sizes to fit different routes and requirements, including small buses manufactured by UK company Optare, medium-sized buses and the large (standard) buses manufactured by German company MAN.

[jsbach123] 08/12/2014 15:01

Yer 'avin a larf bump3r. It is not overstating it IMHO to call the results disastrous. Another multimillion pound loss seems inevitable for this current financial year.

[bump3r] 08/12/2014 12:37

Results out.Not too bad but volume orders are required.

[cougar99] 06/12/2014 13:22

for those of you that like looking at buses:

Solos old and new.

[kimoldfield] 04/12/2014 15:15

I know, the figures are down from last month but 36 is better than 26!😀