Pv Crystalox Solar Share Discussion Threads

[petrus12] 03/11/2021 09:19

I have just looked at the 2013 AR on the PV Crystalox Solar plc website and the first paragraph on Page 16 says: " Discontinued operations
In June 2013 the Group disposed of its
polysilicon production facility in Bitterfeld,
Germany, to a management buy-in team.
The team acquired the facility and staff
together with associated obligations and
liabilities including those related to the
repayment of grants, subsidies and closure
costs in return for a cash payment from the
Group of €12.3 million. This transaction was
preferable to shutting the facility as it resulted
in lower cash outflows for the Group and
enabled some jobs to be retained under the
new management. Specifically, the disposal
was preferable to closure because it gave
certainty as to the timing and quantum of
cash flows rather than the uncertainty
inherent in closing a production facility and
thereby dismissing employees, disposing
of plant and equipment and selling land.
Note 36 sets out the loss incurred at the
polysilicon plant in the period prior to
disposal of €2.6 million and the related
operating cash outflow of €3.5 million in
addition to the above mentioned payment
on disposal of €12.3 million. The 2012
comparison numbers in the accounts have
been restated to remove the prior year
effect of this discontinued operation."

[thirty fifty twenty] 03/11/2021 08:59

petrus12 - i have just checked page 16 of the 2013 AR but cannot see the detailed note. can you please check reference and repost - thanks

[thirty fifty twenty] 03/11/2021 08:58

just checked asset match. looks like the buyer of the small number has confidence.

The next auction will close at 3pm on the 26th January 2022. An order book will appear here when orders have been received.

In the auction that closed on 27th October 2021, 6,350 shares trade at 40 pence per share.

[vk74] 02/11/2021 20:50

Guys what are you talking about? I thought this company is dead.

[rwgrant] 02/11/2021 20:17

Here in NZ I don't receive an annual report but presume I should even though I hold very few shares ie 45. I am just interested to see what happens wuth the final outcome and would be interested to go along with thirty fifty twenty.
Cheers to all.
Ray W G

[petrus12] 02/11/2021 17:47

If you look at the 2013 Annual Report of PV Crystalox Solar plc you will see that the polysilicon production facility in Bitterfeld, Germany, was sold to a management buy-in team in June 2013. There is a detailed note on this on Page 16 of the 2013 AR.

[thirty fifty twenty] 02/11/2021 17:25

thanks zcaprd7 - that's an interesting article.
surely it means that the tax losses of PVCS are worth something to a company that is intent on profitable trading....?
have you been in touch with the board recently?
i would be happy to work with others as a co-ordinated group to protect our interests.
i hold a number of shares.

best wishes

[zcaprd7] 02/11/2021 16:03

Expansion to BitterfeldBefore this can happen, however, the company has to become competitive. NexWafe secured the former production facilities of PV Crystalox Solar Silicon GmbH in 2018, and announced the start of production in 2019.https://www.pv-magazine.com/2020/10/31/the-weekend-read-something-truly-new/I don't recall this event?

[konradpuss] 26/9/2021 08:16

meijiman, I think/hope we will hear something soon. The fellow that took a stake just prior to the delisting who was previously an officer of the company must be putting on the pressure.

I am sure the incumbent management is hard at work with the German tax authorities......

[meijiman] 14/9/2021 14:20

The whole idea here is to keep the ceo in paid employment for ever.

[zcaprd7] 14/9/2021 13:11

We're coming up to the delisting anniversary, and what do we have to show for it?

[rainmaker] 13/9/2021 00:59

Apologies Petrus, I missed that one. Hopefully we should receive an update from the Company in the very near future

regards

[petrus12] 12/9/2021 11:45

The existence of this update was posted on ADVFN on 14 June 2021.

[rainmaker] 11/9/2021 20:34

Seek and you shall find.

Hi All, copied and pasted from press release from Company's web site at

hxxp://www.pvcrystalox.com/news/press_releases/

PV Crystalox Solar PLC
Update
14 June 2021
PV Crystalox Solar PLC (PVCS) announces a change to its accounting reference date and the appointment of a new auditor
PVCS is seeking to liquidate its assets and return the remaining cash to its shareholders. The largest asset on the balance sheet of PVCS is its investment in subsidiary companies which primarily relates to PV Crystalox Solar Silicon GmbH (PVCSS) in Germany. The directors are seeking to finalise an outstanding tax audit at the German subsidiary and are also engaged in early stage discussions which may lead to the sale of PVCSS. As they consider that there is a reasonable prospect that greater clarity on these issues may be achieved during the next few
weeks it would appear prudent to extend the Company’s Accounting Reference Date until 30 June 2021. Accordingly the audited accounts would then be prepared for the 18 months ending on 30 June 2021 and can be expected to give shareholders a more representative view of the value of assets held by the Group at that time.
PVCS has appointed Azets as its auditor.


Highlights in 2020
• £2 million returned to shareholders by way of a Tender Offer
• Company delisted from the London Stock Exchange on 29 September 2020
• UK Group companies’ net cash of £1.2m at 31 December 2020
• German subsidiary net cash €2.5m at 31 December 2020.

[rwgrant] 19/8/2021 23:08

Well I am stuck out here in Kiwi so the information and thoughts as to what might happen with the remaining shares is most welcome but as for putting my 45 remaining through a broker is quite out of the question so here's hoping that the board will do the right thing for the remaining shareholders. Cheers.

[zcaprd7] 08/8/2021 01:34

I think we're rather forlornly hoping that they will do the honest thing, and return all our cash back to us at some point?Some kind of business update would be nice?

[sarahbudd] 30/7/2021 11:57

My broker charging loads to sell via AM.Did someone say there's a possibility that all shares will be bought by company? Don't have a big holding at all so big charges make a difference. Any knowledge welcomed.

[sarahbudd] 29/7/2021 14:31

Thank you ..very helpful

[rainmaker] 29/7/2021 13:25

Hi Sarah, Auction finished yesterday and the next one will be 27 October




hxxps://www.assetmatch.com/app/OurCompanies/CompanyProfile?companyId=1533

regards

[sarahbudd] 29/7/2021 11:43

How can I sell mine? Any advice welcomed.. thanks

[gbjbaanb] 29/7/2021 11:38

Not so, there was a single trade - 6350 shares sold for 47p

[rainmaker] 28/7/2021 09:41

I think so :-)

regards

[konradpuss] 27/7/2021 17:57

Rainmaker, I do not think anything changed hands in the last 'auction'.

I think there will be some news soon.

[rainmaker] 27/7/2021 12:37

hxxps://www.assetmatch.com/app/OurCompanies/CompanyProfile?companyId=1533

[zcaprd7] 29/6/2021 23:37

Yes, still loitering, but this was the fear when they delisted, aren't they sat on £5m of our money still?