Pv Crystalox Solar Share Discussion Threads

[rjmahan] 11/12/2017 20:01

I looked at ASTO - problem is if their current contract finishes - and it could happen any time not much in the price.

[zcaprd7] 11/12/2017 01:30

How so? They have just started proceedings against Grant Thornton (good luck with that) whereas Pvcs has just won...

[arthur_lame_stocks] 10/12/2017 13:45

Have any of you guys considered AssetCo PLC (ASTO) which is a similar situation to PVCS and looks worth a punt to me.

Arthur

[papy02] 04/12/2017 14:41

Sorry RJM, I should have realised that. Re share price - maybe you have reached a wider audience who are nibbling?

[zcaprd7] 04/12/2017 13:14

They should at least reference you, the plant write down versus actual value is ab interesting debate to be had ?

[rjmahan] 04/12/2017 13:03

Thats me - but I dont think I am reason stock is up... Everyone knows this - its in the IC every other week!

Not sure if I should allow them to take my content without linking back to the source....

[zcaprd7] 04/12/2017 11:03

Something brewing now?

[zcaprd7] 28/11/2017 16:45

I hope we get the strategic review finally concluded this week, I did ask the FD, but no reply...

[simso] 28/11/2017 12:54

i think the two things ST misses out are that we will have to supply the wafers for the disputed contract, which will have a cost. i am also assuming that the business will close down, and that will also have a cost.

[boros10] 28/11/2017 11:26

Simon Thompson at the Investor Chronicle has updated on PVCS. He points to the value of the award, the existing NAV, the market value of the inventory and trading losses since H1. He seems to be at more than 30p a share in his calculations.

[cjohn] 15/11/2017 12:44

I've bought some more too.

[zcaprd7] 15/11/2017 11:58

Yep, bonkers - topped up here...

[yasx] 14/11/2017 23:30

Agree - similar thinking from me.

[simso] 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.

[zcaprd7] 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.

[yasx] 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)

[zoolook] 14/11/2017 11:20

That would be the obvious thing to do

[simso] 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.

[zoolook] 14/11/2017 08:20

YasX correct then

[zcaprd7] 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?

[kirk 6] 13/11/2017 17:09

What's the catch here ?

[cl0ckw0rk0range] 13/11/2017 12:47

With interest accruing they are going to want to get the monies paid ASAP surely...

[salpara111] 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.