Share Name Share Symbol Market Type Share ISIN Share Description
PV Crystalox LSE:PVCS London Ordinary Share GB00BFTDG626 ORD 5.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 21.75p 21.50p 22.50p - - - 131,591 08:15:19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 48.4 1.4 0.9 22.3 34.86

PV Crystalox Share Discussion Threads

Showing 7276 to 7299 of 7300 messages
Chat Pages: 292  291  290  289  288  287  286  285  284  283  282  281  Older
DateSubjectAuthorDiscuss
15/11/2017
12:44
I've bought some more too.
cjohn
15/11/2017
11:58
Yep, bonkers - topped up here...
zcaprd7
14/11/2017
23:30
Agree - similar thinking from me.
yasx
14/11/2017
14:08
yasX: I agree with your ultimate valuation of c30p. My logic would be Cash @ Interims e28m Plus Award less cost of buying wafers e22m less Trading Cash Burn in second half: e1m (Trading loss mitigated by w/c unwind) At this stage I am at 28p a share. At year end we may still have c3m of stock left to liquidate (or use towards the e12m cost of wafers to counterparty). Other net assets in total of around e0.5m, and given the imnpairments taken to reduce stock/plant/property etc to a Realisable value, I would hope that's now realistic. So circa e3.5m of remaining balance sheet assets, hopefully more than enough to cover closure costs with a bit of change to round us back up to c30p.
simso
14/11/2017
12:51
I don't think there is a great deal to close down, they have been winding down contracts, laying off workers and closing down buildings for the last few years in anticipation of this final court win.
zcaprd7
14/11/2017
11:34
Simso, You are right - because the wafers are a tradeable commodity, it makes every sense for the Defendant to accept them - but rather than take actual delivery, what will happen is that they will net off the amount ascribed to the wafers from the overall balance due. Hence why I think it will be a case of 34- (approx) 12=22. Perhaps PVCS can negotiate a slightly better figure, but the above amount will not be distinctly different to what is eventually agreed. Because interest is accumulating, it makes sense for the Defendant to crystallise a deal as soon as possible. Either way, unless the Defendant is not going to pay up, the current price represents a very good opportunity. The only variable for which I as yet have no firm indication is the cost impact of the closure of production facilities. Hope that helps (I yesterday bought a few more on the dip - and still expect to achieve 30p fairly soon)
yasx
14/11/2017
11:20
That would be the obvious thing to do
zoolook
14/11/2017
09:06
YasX estimated the cost of providing the wafers as being e12m, and have not read anyone providing a different view, so assume thats a fair estimate. In theory the Counter-Party don't want them, but evn if they do not, I am sure they will not just let PVCS off the hook. In that case I could imagine a deal being done, where PVCS agree to a reduction of (say) e6m and do not have to provide them.
simso
14/11/2017
08:20
YasX correct then
zoolook
14/11/2017
04:17
I have a response to my email:Many thanks for your email.The first of your statements is correct. On the assumption that they pay the award plus interest we have to supply the wafers (if asked) for free.Yes, the Board will look to conclude the Strategic Review.Kind regardsMatthew Wethey
zcaprd7
13/11/2017
20:17
Can they appeal?
zcaprd7
13/11/2017
17:09
What's the catch here ?
kirk 6
13/11/2017
12:47
With interest accruing they are going to want to get the monies paid ASAP surely...
cl0ckw0rk0range
13/11/2017
12:34
hmm, now trading well below cash value, the only logical explanation is that the market thinks they will have difficulty getting the award money paid. I am not selling even though I am under water. PVCS have not handled this well which leads me to believe that management want the share price tanked for a potential buy out. When they announced the award they should have made clear what their intentions were for the company vis a vis winding it up. Clearly if I were on the BOD I would want to milk the cow for as long as possible which is what they have been doing for the last couple of years but it is high time that the chairman put his foot down and took action in the shareholders interests as opposed to the BOD interests. Hopefully we will see some sort of clarity in the next few weeks.
salpara111
13/11/2017
12:04
Interesting price action.... Didnt see this drop coming, oh well time to add
muffster
13/11/2017
10:23
My (unconfirmed) understanding is its a German subsidiary of a South Korean company.
cockerhoop
13/11/2017
10:09
How do you know it is chinese?
zoolook
13/11/2017
10:01
Hi CJohnI would say upside is more like 40%+Think the market is pricing in some doubt about the Chinese Co coughing up the reddiesGiven AIM experience with chinese cos i would also had some doubt but..pvcs mgmnt described them as 'one of the worlds leading PV companies' - so it gives comfort that they should be of sufficient size to shoulder such a cost.But as we have seen they have dragged their heels on the whole process so no doubt it will take some time to get the cash in to the pvcs bank a/c
apatel21
13/11/2017
09:39
There seems to me to be maybe 20-25% upside from here; netting off any value in fixed assets and inventory against wind up costs. Or is that too optimistic?
cjohn
13/11/2017
09:38
Hi, Yasx, I got rid of my post no 6719 prior to your posting of 6720. I re-read your original post and realised I'd read it wrong. You stated the position correctly. all best regards CJohn
cjohn
11/11/2017
16:12
I do not see a takeover - but I do see a fIRLY SWIFT orDerly wind up following the strategic review. I reckon, once the PV company has aid up (and cost of wafers netted off), plus everything else that the Co owns is accounted for, closure costs taken into account, we will be left with approx 30p - so I am happy to hold and purchase here
yasx
11/11/2017
00:55
The rest of the assets are quite hard to value, some people write them of, others think they might have some use.I still think the end game is a takeover by the unnamed, losing solar company...
zcaprd7
10/11/2017
18:05
CJohn, Not so - i wrote as below: "Buy in spot market and deliver- based on PV insights who track spot market trends, current value is $0.627 /wafer, at current fx =12.4 million Eu. So award is 34-12 =22 million;ergo leaves 28 million net cash +22 mln award=50mln Eu, or £44mln" So I too used 27.8 mln Eu as the net cash position. With the likely amount they will have to pay for the wafers in the spot market being around 12 mln (as above), this leaves the award essentially at 22 mln, thus leaving a total position of approx 50mln excluding a few other things. So, at the current price there is some upside, although those looking for substantial percentage gains will move on. One issue that is not accounted for is the costs of closing the manufacturing facilities. Does any reader have a useful indication?
yasx
10/11/2017
10:52
Well, if I had the money!
zcaprd7
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