Pv Crystalox Solar Share Discussion Threads

[zoolook] 27/6/2018 09:43

Issuing a winding-up order I've always found concentrates the mind of a debtor wonderfully

[zcaprd7] 22/6/2018 14:10

I don't really know if it does get referred back court... In the UK they'd call in the bailiffs.

[cjohn] 21/6/2018 10:49

In a better world, you'd be right, zcaprd7.


After all, both sides benefit from a refund. PVCS avoid associated costs. The other side, I assume, don't really want the extra wafers.


However, the other side, as always, can afford to make things difficult in arriving at an agreed refund and so carry on delaying the remaining payment they must make to PVCS. They hope to ratchet up the refund from PVCS. (The collapse in wafer prices has complicated their calculation; they may hope for a rebound in wafer prices.)


"Refer back to the court" sounds great, but in reality, this means time and money. PVCS have less time than the other side.

So sadly, I think the other side continues to have the whip hand. This has been the csse throughout; the arbitration decisión itself was clearly unfavourable to PVCS, favouring the larger, more important company. Sadly again, this is typical in arbitration decisions.

[zcaprd7] 20/6/2018 16:05

Should be irrelevant to the payment really, they need to pay, then crystolox delivers, or issues a refund.As they're doing them a favour, they should refer it back to the court....

[cjohn] 20/6/2018 12:14

You're right, Extrader.

And wafer prices are down another 8% on the week. Which is worth roughly $800k to PVCS.


I wonder if the continuing collapse in wafer prices may in fact be making the negotiations to fix on monetary compensation instead of a wafer shipment more complicated: ie with a rapidly changing base figure for negotiations.


all the best

[extrader] 15/6/2018 09:35

Hi CJohn,

You'd think on these sorts of numbers - plus interest meter still ticking - that the defendant would want to settle up and move on...

ATB

[cjohn] 15/6/2018 08:21

wafer prices down 2-3% on the week. worth another $2-300k to PVCS.

[zcaprd7] 13/6/2018 09:57

I think they will do something a bit more exotic, but likely case is sell it off for a £1, but dodge closing costs... Which means 30p is a decent target?

[extrader] 12/6/2018 09:43

Hi again,

Euro 10m / 160m shares would be about 6p per share....I'd hope for 30p net (interest in offset agst residual closing costs)…..

ATB

[zcaprd7] 12/6/2018 09:31

Yes, I know we are due a bit more net cash, but the risk has decreased significantly after that initial payment... The share price was almost indicating a total non payment!

[cjohn] 12/6/2018 09:09

Wafer prices down about 8% over the last couple of weeks. That's worth about 800k to PVCS.

[extrader] 12/6/2018 07:47

Hi zcaprd7,

I think we're talking at cross purposes, you about 'profit' (which is a concept), me about cash...…

The award was for Euro 34m, with an offset for wafers worth about Euro 12m (per YasX, which I haven't seen challenged), ie AIUI, we should receive net Euro 22m.

So far we've received Euro 14.5m , we're due another Euro 9.5-10.0m (incl. interest).


Happy to be corrected - we PI's are in this together !

ATB

[zcaprd7] 11/6/2018 18:05

No, it's mostly the profit, what's left is roughly equal to the wafers we owe them (give or take)...

[extrader] 11/6/2018 15:20

Hi zcaprd7,

It's a paper profit until we're paid out... agree news re German ops must be due shortly.

ATB

[zcaprd7] 11/6/2018 14:23

I think we have the bulk of the "profit" on the legal win... end of June we should get an update on the German operations.

[extrader] 11/6/2018 09:58

Hi all,

Chinese ructions with their PV / solar industry can't be helpful to our defendant's ongoing business.

Just settle the rest of our judgement, please !

ATB

[extrader] 03/6/2018 17:24

Hi zcaprd7,

Me too ! Except I'm not too sure about the expected unexpected bit ….;->

ATB

[zcaprd7] 03/6/2018 11:03

It's creeping up though... Still hoping for 30p breakup value, but expect a little more unexpected excitement!

[cjohn] 31/5/2018 14:22

They certainly have.

[cjohn] 31/5/2018 09:47

wafer prices down between 3 and 6% week on week. That's worth about $500K to PVCS.

[zcaprd7] 19/5/2018 11:09

I think they will return most of the money, and raise more from shareholders who want to go down the new path... To be fair, management have played this quite well, although have taken a long time.

[extrader] 19/5/2018 10:00

Hi zcaprd7,

Well, if they return all the cash to shareholders and liquidate the co, I guess management will all be looking for new jobs......

Do turkeys vote for Xmas ? The CEO would probably have enough (10%) to start afresh/ retire / do something different....

ATB

[zcaprd7] 19/5/2018 08:14

Rights issue to raise finance for an acquisition = protecting the war chest?