Jump to content


Photo
- - - - -

Aveng (AEG)...free lunch?!

Aveng AEG small cap construction

  • Please log in to reply
386 replies to this topic

#1 Milo

Milo

    Advanced Member

  • Members
  • PipPipPip
  • 208 posts

Posted 22 September 2020 - 01:03 PM

Were they not also awarded $40 million in claims in Australia?

 

Yes as per below

 

https://www.moneyweb...acts-this-year/


  • 0

#2 skeez

skeez

    Newbie

  • Members
  • Pip
  • 30 posts

Posted 21 September 2020 - 09:39 PM

Were they not also awarded $40 million in claims in Australia?
  • 0

#3 SB45

SB45

    Advanced Member

  • Members
  • PipPipPip
  • 216 posts
  • LocationGauteng

Posted 21 September 2020 - 09:15 PM

Good Article on the analysis, however, a mere consolidation for me would not be enough, they would be putting nothing on the table. First they need to buyback shares as authorised and as compensation to the shareholders, second they will prove with company cash that they believe that the company is undervalued vs the work they are doing and the NAV they are quoting in their financials. 

 

Strange that also none of the insiders have made share purchases at these levels, to me this says lack of confidence in their turnaround strategy, therefore no personal cash to risk because they are not convinced it will work.

 

It seems they have R56mln on the way, good outcome for them on the ESKOM claims. Legal costs covered so good result. 

 

https://www.dailymav...jan-oberholzer/


  • 0

#4 Milo

Milo

    Advanced Member

  • Members
  • PipPipPip
  • 208 posts

Posted 21 September 2020 - 01:38 PM

https://www.iol.co.z...31-28cc876c448d

 


  • 0

#5 skeez

skeez

    Newbie

  • Members
  • Pip
  • 30 posts

Posted 21 September 2020 - 10:27 AM

Like all the loss making companies we've seen report recently, Aveng is packaging all the bad news that were and weren't caused by the pandemic and firmly placing them under the "Covid-19 excuse"
They call it Throwing out the kitchen sink.

This is were you know the auditing proffession in this country is akin to government institutions. Corrupt to the core. How can this be possible?
  • 0

#6 Blackobar

Blackobar

    Member

  • Members
  • PipPip
  • 84 posts

Posted 19 September 2020 - 01:41 PM

Like all the loss making companies we've seen report recently, Aveng is packaging all the bad news that were and weren't caused by the pandemic and firmly placing them under the "Covid-19 excuse"
They call it Throwing out the kitchen sink.
  • 0

#7 skeez

skeez

    Newbie

  • Members
  • Pip
  • 30 posts

Posted 17 September 2020 - 09:09 PM

Add impairments on top of bad results and you have a disaster, thats why. Still cooking the books perhaps?

This move has made me jittery I must say. They had very little exposure to Covid as per their sens and now all of a sudden this...should have seen it when they were paying the senior directors in cash and not in shares.
  • 0

#8 SB45

SB45

    Advanced Member

  • Members
  • PipPipPip
  • 216 posts
  • LocationGauteng

Posted 17 September 2020 - 01:02 PM

What is the reasoning behind delaying these results? Just does not make sense.

Add impairments on top of bad results and you have a disaster, thats why. Still cooking the books perhaps?


  • 0

#9 skeez

skeez

    Newbie

  • Members
  • Pip
  • 30 posts

Posted 17 September 2020 - 12:46 PM

The +1bln sell side has always been the case. I gave Aveng a call 2weeks ago to the enquire about the open ended SENS on the results. I was then told that they would issue another SENS will be issued with specific dates, here we are nothing. The indication was 2nd week of October, but I doubt. They will take the full 2 months of extension judging by their behaviour.

What is the reasoning behind delaying these results? Just does not make sense.
  • 0

#10 SB45

SB45

    Advanced Member

  • Members
  • PipPipPip
  • 216 posts
  • LocationGauteng

Posted 17 September 2020 - 12:41 PM

What happened to these guys? They pulled that covid excuse and disappeared.
I noticed somebody's dumping 1 billion+ shares of aveng today.

The +1bln sell side has always been the case. I gave Aveng a call  2weeks ago to the enquire about the open ended SENS on the results. I was then told that they would issue another SENS will be issued with specific dates, here we are nothing. The indication was 2nd week of October, but I doubt. They will take the full 2 months of extension judging by their behaviour.


  • 0

#11 Blackobar

Blackobar

    Member

  • Members
  • PipPip
  • 84 posts

Posted 16 September 2020 - 03:45 PM

What happened to these guys? They pulled that covid excuse and disappeared.
I noticed somebody's dumping 1 billion+ shares of aveng today.
  • 0

#12 Queen B

Queen B

    Little Master

  • Members
  • PipPipPipPip
  • 537 posts
  • LocationDurban

Posted 28 August 2020 - 02:18 PM

419 million traded. Something must be brewing  ;)


  • 0

#13 AnbanM

AnbanM

    Newbie

  • Members
  • Pip
  • 31 posts

Posted 28 August 2020 - 12:06 PM

372 million shares traded today and counting at 2c any idea whats up ?
  • 0

#14 Milo

Milo

    Advanced Member

  • Members
  • PipPipPip
  • 208 posts

Posted 21 August 2020 - 11:22 AM

A weaker rand this year = better profits in Australia etc.. And increase in iron ore demand due to government's stimulus in infrastructure projects must be good for Moolmans. I am just guessing. Hope this thing fly when it breaks 4c eventually.


  • 0

#15 SB45

SB45

    Advanced Member

  • Members
  • PipPipPip
  • 216 posts
  • LocationGauteng

Posted 20 August 2020 - 05:01 PM

does the company have to inform the shareholders when they are actually starting the buyback after approval is given ?

wouldnt such information inflate the price at which shares can be acquired ?

Yes they have to inform the market of the transactions, with the granted mandate there was a cap on the shares they could buy back of the total issued cap. 

 

Yes this would have had a positive impact on the share price and normally because of this companies have a range that would buy at and this does not go beyond their calculated NAV. This move is usually seen in a positive light by the market as it is a way for the company to demonstrate with cold hard cash that their undervalued. 

 

For the past couple of years I have not seen insiders buying in line with what they keep saying that AEG is undervalued, its all been lip service no cold hard cash has followed this vs other companies. IVT's Joffe, said they were undervalued and he put his money where his mouth is with a sizeable purchase.


  • 0

#16 skeez

skeez

    Newbie

  • Members
  • Pip
  • 30 posts

Posted 20 August 2020 - 04:53 PM

Has 12 months not elapsed since that AGM? So technically they have 3 months to execute the buy back....if they don't what are the consequences? These boards run these companies like their little family businesses...
  • 0

#17 AnbanM

AnbanM

    Newbie

  • Members
  • Pip
  • 31 posts

Posted 20 August 2020 - 04:31 PM

Share buy back has validity of 15months from last AGM approval if my memory serves me right. Only issue I read into this is there no money to execute this mandate. The share buy back or consolidation is one of the key things this management should have done for shareholders. It would have not cost them an arm and a leg at these price levels.

And to our surprise executives will be paid handsomely for weathering the storm under extreme covid conditions


does the company have to inform the shareholders when they are actually starting the buyback after approval is given ?

wouldnt such information inflate the price at which shares can be acquired ?
  • 0

#18 SB45

SB45

    Advanced Member

  • Members
  • PipPipPip
  • 216 posts
  • LocationGauteng

Posted 20 August 2020 - 04:06 PM

Something's going on behind the scenes. Weren't they supposed to have done a share buy back by now? or there's still time?
The covid excuse is not a good look, and when you look at the JSE companies that have pulled the "covid excuse" , they are all bad companies with bad news.

Share buy back has validity of 15months from last AGM approval if my memory serves me right. Only issue I read into this is there no money to execute this mandate. The share buy back or consolidation is one of the key things this management should have done for shareholders. It would have not cost them an arm and a leg at these price levels. 

 

And to our surprise executives will be paid handsomely for weathering the storm under extreme covid conditions 


  • 0

#19 Blackobar

Blackobar

    Member

  • Members
  • PipPip
  • 84 posts

Posted 20 August 2020 - 12:42 PM

Something's going on behind the scenes. Weren't they supposed to have done a share buy back by now? or there's still time?
The covid excuse is not a good look, and when you look at the JSE companies that have pulled the "covid excuse" , they are all bad companies with bad news.
  • 0

#20 SB45

SB45

    Advanced Member

  • Members
  • PipPipPip
  • 216 posts
  • LocationGauteng

Posted 20 August 2020 - 12:17 PM

Covid or no covid they weren't ready to issue results, and this is always a bad sign. They give no date on when they will issue after extension. MUR has strangely reported
  • 0





Sponsored by Sharenet and VPSNine Linux VPS Hosting