866 replies to this topic

[Junz]

Is this share suspended ?

 

I cannot seem to buy it on the easy equities platform anymore

[sommerso]

This morning I see aveng already has 16 million traded, bulk at 3cents. Am hoping for news soon on the rights issue again, as once that is completed, I think we will see some positive change.

For sommerso, or anyone else...
Also holding in greater volume
NUT
ASC
SNH
EUZ

Wish I had more cash flow for others, but those will need to wait abit

 

 

NUT

SNH

ORN

AEG

 

AEG and NUT are 500k and 1M shares. As funds become available I'll be topping them up. Long term gamble on these two 

[AMG76]

This morning I see aveng already has 16 million traded, bulk at 3cents. Am hoping for news soon on the rights issue again, as once that is completed, I think we will see some positive change.

For sommerso, or anyone else...
Also holding in greater volume
NUT
ASC
SNH
EUZ

Wish I had more cash flow for others, but those will need to wait abit

[sommerso]

https://www.iol.co.z...53-8c1885347fd6

 

 

I saw that and I'm happily invested in it now. AMG we seem to share similar holdings ... may it come to pass 

[AMG76]

https://www.iol.co.z...53-8c1885347fd6

[AMG76]

53million shares traded today so far, bulk at 3 cents from the looks of it.
Seems to be positive.

[AMG76]

I see coronation have just decreased holding from about 11% to just over 9%.

[Blackobar]

I see we received notification late yesterday about Steyn Asset management now holding over 6% of the shares. Seems like other big institutions are believers in the turn around strategy currently

I remember after they first announced the upcoming rights issue, either Goldman Sachs or JP Morgan acquired more equity, these institutional investors get more insight on the business than us, always.

[AMG76]

I see we received notification late yesterday about Steyn Asset management now holding over 6% of the shares. Seems like other big institutions are believers in the turn around strategy currently

[Tonyh199]

Aveng rights offer has been delayed as per sens at 4pm today.....most likely by about 1 month.

This is their reason:  Contrary to Aveng's expectation, the related transaction

documents in relation to the debt restructuring have not gone fully unconditional. Consequently, the
Rights Offer is not unconditional at this time.

This management is a joke , surely you make sure all conditions are met before making announcements of this magnitude?

 

[AMG76]

Anyone know anything about the massive number of shares, apparently bought, late yesterday?

[AMG76]

Aveng rights offer has been delayed as per sens at 4pm today.....most likely by about 1 month.

[CowboyTrader]

I would really be interested to know where some of you are with your average price.
Mine is about 2.4cents now.

I sold out earlier this week. Gatvol of empty promises. Been holding for almost 3 years. Was able to load some off at 4c earlier last year, but still took a knock at 2c. Will invest somewhere else, maybe top-up on ASC...

[Daytrader01]

What will the share value be after the rights offer? I think im F with this one

[AMG76]

I would really be interested to know where some of you are with your average price.
Mine is about 2.4cents now.

[Zanme]

Yes. It has just come out now.

Does anyone understand how they using R300 million to settle 1 billion of debt. Where did this debt come from because when they did the last rights issue they converted a lot of debt into shares and also raised R400 million. Im still in this but this management team are the biggest crooks around. I can't understand how the JSE never challenges these things.

[AMG76]

Yes. It has just come out now.

[Daytrader01]

So the SENS is out about the rights offer at 1.5c. 103.12203 shares per 100 owned

[Shi]

Not asking for the consolidation.

Rights issue

 

The 25 Nov 2020 SENS has the following bit ... not sure if this is 100% 

 

Aveng has since engaged with various stakeholders (including its South African lenders, the holders of notes issued through iNguza Investments (RF) Limited, its largest shareholder and others) and reached an in-principle agreement on a restructure that will result in:

The introduction of a minimum of R300 million of new capital by way of a rights offer at 1.5 cents per share, fully underwritten by Aveng's largest shareholder;
The restructuring of the South African lender debt into (i) restructured term and overdraft facilities of R1,102 million with a term of three years; and (ii) the settlement of the remaining debt by way of a cash settlement of 31 cents on the Rand or a specific issuance of new ordinary shares at 5 cents per share; and
The settlement of the iNguza notes debt by way of an election of an early cash settlement at 31 cents in the Rand or the participation in the restructuring of the South African lender debt on the same basis as set out above.

Edited by Shi, 22 January 2021 - 05:21 PM.

[JR7800]

AMG76 - I don't think they have announced the details of the rights issue yet. I think they were waiting to get approval for the rights issue at the AGM which they got on Wednesday.