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Aveng (AEG)...free lunch?!

Aveng AEG small cap construction

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#21 SB45

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Posted 04 September 2019 - 07:44 PM

https://www.iol.co.z...better-31706291

We now know that Byrnecut Group has been having Moolmans' lunch in Africa
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#22 SB45

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Posted 30 August 2019 - 08:53 PM

Shi, interesting indeed, now they need to close the Grinaker deal(their biggest money pit) money in the bank and anncounce the sales of the balance. Moolmans, Mtentu Bridge termination costs that might occur worry for me still but lets see if my bleeding can be stopped in the next FY.
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#23 SB45

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Posted 30 August 2019 - 08:44 PM

https://www.cnbcafri...nsolidate-debt/
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#24 Shi

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Posted 30 August 2019 - 03:58 PM

https://www.moneyweb...ayment-of-r50m/

 

Interesting bit 

The group, which in 2018 launched a major strategic action plan to return it back to financial health, on Thursday also revealed that it expects to achieve an operating profit in the second half of its current financial year when all of its non-core asset disposals are expected to have been finalised and moved out of the group.


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#25 SB45

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Posted 09 August 2019 - 06:21 PM

Thanks Andi, very useful link, with the detail I was clearly missing. I agree on company progress, selling side an issue for sure
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#26 andi222

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Posted 09 August 2019 - 05:27 PM

Institutions only hold around 30 %

 

https://www.mornings...e/aeg/ownership

 

Aton has 25 %

 

Most of the rest is sitting in the hands of the old convertible bond holders. They are currently the ones who want to get out. See close to 1 billion shares for offer at 3 cents.

 

Even with a share consolidation price will keep on falling as too many sellers are on board. My best guess is to put an order up for one cent. 

 

Fact: The company is in a good progress to return to profitability, however too many shares in free float and big investors who need to get out.

 

 


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#27 SB45

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Posted 09 August 2019 - 04:28 PM

With the results i suspect an announcement on share consolidation for the trimmed "new" Aveng
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#28 SB45

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Posted 09 August 2019 - 04:25 PM

Andi, that would be bad.....checked that over ~ 93% of issued shares with institutional investors(unintentional) with ~70% offshore revenue, would they still want to remain listed on JSE? At 1c Aton loss would be a bit much, unless someone wants to pull a Dawn on Aveng. Lets see how it turns out
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#29 andi222

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Posted 09 August 2019 - 03:55 PM

And with the rand dollar exchange tanking this should surely represent a change in fortunes. 80million shares traded on thursday.

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My guess this will drop to 1 cents soon. Too many shares in issue and Aton wants/needs to get out.


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#30 skeez

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Posted 09 August 2019 - 03:02 PM

And with the rand dollar exchange tanking this should surely represent a change in fortunes. 80million shares traded on thursday.

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#31 SB45

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Posted 09 August 2019 - 12:26 PM

After market close SENS, Aveng has sold Grinaker, Aveng Steel the only remaining money pit. Majority of their earnings will be in foreign currency, interesting times ahead. FY results 20.08.2019
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#32 SB45

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Posted 08 August 2019 - 09:53 AM

Tough to sell Grinaker and Trident Steel, money pits, Final numbers coming out this month, lets see if good progress is being made.

 

https://www.business...to-stay-afloat/


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#33 SB45

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Posted 30 July 2019 - 05:49 PM

Polly I though so too but ~4,8bln shares, for ~€30mln, sold at 0.03, is a potential loss of ~€21mln. But then again might be nothing for these guys.Do you anticipate pump and dump to lessen the blow ?
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#34 Polly

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Posted 30 July 2019 - 07:24 AM

 

Block a surprise

Not so for M&R. The commission has recommended that deal be blocked on the grounds that bidder Aton is a close competitor and the companies would control too much of the market between them. Germany’s Aton has been pursuing a hostile bid for the company for years and has steadily built up a 44% stake, making a bid of R17 a share for the rest in mid-2018.

The M&R board has been resisting, declaring fair value to be in the R20-R22 range. The commission’s block on the deal came as a surprise, wiping 17% off the M&R share price to just R11.80.

Aton had simultaneously been building a stake in struggling Aveng, which M&R had wanted to buy in 2018, arguably in an effort to bulk itself up to beyond the reach of Aton.

The German engineering company has a big share of the shaft-sinking and underground development market globally through its ownership of Canada’s Redpath, and M&R was set to be a lucrative addition to its portfolio. Now it will be somewhat hamstrung, having acquired its shares mostly at a significant premium to the current share price. Selling out will book a big loss so it will likely stay put with its 44% and attempt to influence the company while pondering how to get the commission to change its mind.

It will also be nursing losses in its 25% interest in Aveng, which has since become a penny stock.

These deals were set in motion after the election of Ramaphosa as ANC leader but before the current standoff that is making the president seem isolated against the assorted forces of Zuma-aligned apparatchiks in the ANC. Friday’s public protector report alleging Ramaphosa deliberately misled parliament creates a major distraction from the job of actually leading the country. Deeper dysfunction is clear in the inability of the cabinet to agree on a convincing plan for Eskom, let alone the rest of the state-owned corporations.

In that political atmosphere it takes nerves of steel to make a multibillion-rand bid for an SA asset.

Aton and CBC are family-owned companies that are thinking long term without immediate shareholder pressures. The rest of us would do well to take a leaf from their books and look at SA assets with a step removed from the maddening political mess.

• Theobald is chairman of Intellidex.

 

 so if they take over  of MR blocked , i suppose they will start selling their 25% stake in AEG...bad news as this will be a big overhang!!!


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#35 SB45

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Posted 29 July 2019 - 07:00 PM

Block a surprise

Not so for M&R. The commission has recommended that deal be blocked on the grounds that bidder Aton is a close competitor and the companies would control too much of the market between them. Germany’s Aton has been pursuing a hostile bid for the company for years and has steadily built up a 44% stake, making a bid of R17 a share for the rest in mid-2018.

The M&R board has been resisting, declaring fair value to be in the R20-R22 range. The commission’s block on the deal came as a surprise, wiping 17% off the M&R share price to just R11.80.

Aton had simultaneously been building a stake in struggling Aveng, which M&R had wanted to buy in 2018, arguably in an effort to bulk itself up to beyond the reach of Aton.

The German engineering company has a big share of the shaft-sinking and underground development market globally through its ownership of Canada’s Redpath, and M&R was set to be a lucrative addition to its portfolio. Now it will be somewhat hamstrung, having acquired its shares mostly at a significant premium to the current share price. Selling out will book a big loss so it will likely stay put with its 44% and attempt to influence the company while pondering how to get the commission to change its mind.

It will also be nursing losses in its 25% interest in Aveng, which has since become a penny stock.

These deals were set in motion after the election of Ramaphosa as ANC leader but before the current standoff that is making the president seem isolated against the assorted forces of Zuma-aligned apparatchiks in the ANC. Friday’s public protector report alleging Ramaphosa deliberately misled parliament creates a major distraction from the job of actually leading the country. Deeper dysfunction is clear in the inability of the cabinet to agree on a convincing plan for Eskom, let alone the rest of the state-owned corporations.

In that political atmosphere it takes nerves of steel to make a multibillion-rand bid for an SA asset.

Aton and CBC are family-owned companies that are thinking long term without immediate shareholder pressures. The rest of us would do well to take a leaf from their books and look at SA assets with a step removed from the maddening political mess.

• Theobald is chairman of Intellidex.


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#36 Blackobar

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Posted 18 July 2019 - 09:54 PM

So it is clear that listed construction firms have been cut off from government spending plans. Got reminded of this article
https://www.moneyweb...re-they-pushed/


Government killed the local construction sector and there are no plans of resuscitation by the look of things.
AEG must focus on the operations outside SA, continue selling the non core assets and retiring debt. mcconnell dowell, moolmans,management must rebuild. Let's see them earn their corn.
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#37 SB45

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Posted 18 July 2019 - 03:16 PM

So it is clear that listed construction firms have been cut off from government spending plans. Got reminded of this article 

https://www.moneyweb...re-they-pushed/

Attached Files


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#38 SB45

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Posted 25 April 2019 - 11:07 PM

https://www.business...uction-workers/

Sanral said its safe to continue with the works....
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#39 SB45

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Posted 30 March 2019 - 09:43 PM

Quite telling of our South Africa, we will import infrastructure at a massive cost. Disgusting entitled mafia. Tough space

https://www.business...usiness-rescue/
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#40 SB45

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Posted 22 March 2019 - 10:13 AM

Brian Wilmot kept Moolmans profitable,pity he retired, Stuart White a disaster even before the two divisions were merged. So anyone but him. Worrying though that the core business is making losses. Time will tell, short time at that, lets hope the guys working there are clever enough to realise its their lively hood at stake and support this guy.
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