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Aveng (AEG)...free lunch?!

Aveng AEG small cap construction

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#1 Blackobar

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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.
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#2 skeez

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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.
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#3 SB45

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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?


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#4 skeez

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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.
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#5 SB45

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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.


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#6 Blackobar

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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.
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#7 Queen B

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Posted 28 August 2020 - 02:18 PM

419 million traded. Something must be brewing  ;)


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#8 AnbanM

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Posted 28 August 2020 - 12:06 PM

372 million shares traded today and counting at 2c any idea whats up ?
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#9 Milo

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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.


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#10 SB45

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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.


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#11 skeez

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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...
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#12 AnbanM

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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 ?
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#13 SB45

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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 


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#14 Blackobar

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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.
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#15 SB45

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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
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#16 skeez

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Posted 20 August 2020 - 07:37 AM

The cat is out of the bag, results pushed out by at least 2 months. Many companies will over play the COVID card and Aveng is one of them. COVID will be used to release all the skeletons previously in the closet.

So the people in the inner circle already knew and I am certain they also know that the results are crap hence 4c to 2c

https://www.moneyweb...ed-7-july-2020/

Strange statement for a company that was hardly affected by COVID. 70-80 % of its revenue is in Australasia and they never stopped working during this period. They even released a SENS to that effect. Disappointing to say the least.
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#17 SB45

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Posted 19 August 2020 - 05:37 PM

Also find it quite strange on the decline of price...plus quite significant volumes being traded..

The cat is out of the bag, results pushed out by at least 2 months. Many companies will over play the COVID card and Aveng is one of them. COVID will be used to release all the skeletons previously in the closet.

 

So the people in the inner circle already knew and I am certain they also know that the results are crap hence 4c to 2c

 

https://www.moneyweb...ed-7-july-2020/


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#18 Milo

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Posted 18 August 2020 - 04:43 PM

Hi Milo. I think it’s the other way round. If the bid volume is higher than the offer volume then there is more volume being sold compared to less being bought. So supply outweighs demand and the price will drop.

Thanks for the explanation


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#19 Milo

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Posted 18 August 2020 - 04:33 PM

On the the SA Shares website you can see the best bid and best offer volumes. If the best bid volume is high then the share price might go up and if the best offer volume is high the share price might go down. Anyway that is how I think it wo

Correction if the best bid volume is high then it means people trying to sell and share price might go down. And if the best offer volume is high then people trying to buy and share price might go up. 


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#20 David-89

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Posted 18 August 2020 - 04:26 PM

On the the SA Shares website you can see the best bid and best offer volumes. If the best bid volume is high then the share price might go up and if the best offer volume is high the share price might go down. Anyway that is how I think it works.


Hi Milo. I think it’s the other way round. If the bid volume is higher than the offer volume then there is more volume being sold compared to less being bought. So supply outweighs demand and the price will drop.
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