Were they not also awarded $40 million in claims in Australia?
Yes as per below
https://www.moneyweb...acts-this-year/
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/
Posted 21 September 2020 - 09:39 PM
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/
Posted 21 September 2020 - 10:27 AM
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?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.
Posted 19 September 2020 - 01:41 PM
Posted 17 September 2020 - 09:09 PM
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.Add impairments on top of bad results and you have a disaster, thats why. Still cooking the books perhaps?
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?
Posted 17 September 2020 - 12:46 PM
What is the reasoning behind delaying these results? Just does not make sense.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.
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.
Posted 16 September 2020 - 03:45 PM
Posted 28 August 2020 - 02:18 PM
419 million traded. Something must be brewing
Posted 28 August 2020 - 12:06 PM
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.
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.
Posted 20 August 2020 - 04:53 PM
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
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
Posted 20 August 2020 - 12:42 PM
Posted 20 August 2020 - 12:17 PM