Jump to content


Photo
- - - - -

Aveng (AEG)...free lunch?!

Aveng AEG small cap construction

  • Please log in to reply
328 replies to this topic

#41 skeez

skeez

    Newbie

  • Members
  • Pip
  • 16 posts

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.

Sent from my SM-G930F using Sharenet Sharechat mobile app
  • 0

#42 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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
  • 0

#43 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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/


  • 0

#44 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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 ?
  • 0

#45 Polly

Polly

    The Oracle

  • Banned
  • PipPipPipPipPipPipPipPip
  • 2,401 posts

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!!!


  • 0

Trading is one of the only fields where genuine con artists/scammers will urge you to “be careful of con artists/scammers.”


#46 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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.


  • 0

#47 Blackobar

Blackobar

    Member

  • Members
  • PipPip
  • 63 posts

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.
  • 0

#48 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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


  • 0

#49 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

Posted 25 April 2019 - 11:07 PM

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

Sanral said its safe to continue with the works....
  • 0

#50 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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/
  • 0

#51 SB45

SB45

    Member

  • Members
  • PipPip
  • 177 posts
  • LocationGauteng

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.
  • 0

#52 skeez

skeez

    Newbie

  • Members
  • Pip
  • 16 posts

Posted 22 March 2019 - 07:42 AM

This appointment does not fill me with great confidence.

Sent from my SM-G930F using Sharenet Sharechat mobile app
  • 0

#53 andi222

andi222

    Little Master

  • Members
  • PipPipPipPip
  • 510 posts

Posted 21 March 2019 - 12:20 PM

NEW MANAGING DIRECTOR APPOINTED AT MOOLMANS
Date
Wednesday 20th March, 2019

 

Johannesburg, 20 March 2019: Effective 1 April 2019, Jerome Govender has been appointed as Managing Director for Moolmans, Aveng’s mining arm and one of the Group’s two core businesses. 

“We are confident that Jerome has the necessary skills and experience to lead the turnaround intervention at Moolmans which is focused on restoring planned operational and financial performance and returning our core mining business to profitability,” says Eric Diack, Executive Chairman of Aveng. 
Jerome has more than 25 years’ experience in the construction industry with solid experience in both local and international environments.

Most recently, Jerome served as the Chief Executive Officer of the Cross Yarra Partnership, an approximately AUD6 billion private public partnership (PPP) rail project in Melbourne, Australia.

Before that, he was Executive Director and Chief Executive Officer of Concor Holdings following a transaction that saw most of Murray & Roberts’ infrastructure and building division sold to black empowered Firefly Investments (now Concor Holdings). Jerome played a key role in the successful conclusion of this transaction.
 
Jerome previously spent 15 years of his career with JSE-listed Murray & Roberts Group where he served the company in various roles, including as a member of the Group’s Executive Committee; Chief Executive Officer of its infrastructure and building division where he had full responsibility for operations spanning South Africa, other parts of Africa, the Middle East and Malaysia; and on secondment to lead the USD3.2 billion Gautrain Rapid Rail Link Project in Johannesburg as Chief Executive Officer of the Bombela Concession Company, which was the developer and operator of the integrated Gautrain system.

Before joining Murray & Roberts, Jerome worked briefly in the public sector as a Director in South Africa’s National Department of Public Works. 

Jerome holds a BSc in Quantity Surveying from the University of KwaZulu-Natal, an MSc from the University of KwaZulu-Natal as well as an MBA from Wits Business School.

 

https://www.aveng.co...ointed-moolmans

 


  • 0

#54 Lionelza1

Lionelza1

    Sage

  • Members
  • PipPipPipPipPipPip
  • 1,551 posts

Posted 18 March 2019 - 05:05 PM

infact i was going to add more at 2c but i am not looking at live prices so thats not working.....my avg 7c here

 

flirting with the 1c?


  • 0

#55 andi222

andi222

    Little Master

  • Members
  • PipPipPipPip
  • 510 posts

Posted 14 March 2019 - 12:33 PM

People are scared that Aveng will go into business rescue just like group five, however one should note that Aveng does not have any major loans left after all the events (Conversion, rights issue, sale of non-cor assets) that occured. There needs to be something huge to take down Aveng now. They have implemented a good strategy which they are following. 


  • 1

#56 andi222

andi222

    Little Master

  • Members
  • PipPipPipPip
  • 510 posts

Posted 01 March 2019 - 03:12 PM

Coronation still trying to get out. They had to take up lots of shares due to the bond conversion. They had 32% after conversion. Last SENS was they have 18%. So my guess is they are trying to sell the remaining 18%. I'm expecting a SENS soon that they have disposed of another 8%. 


  • 0

#57 new john

new john

    Member

  • Members
  • PipPip
  • 135 posts

Posted 26 February 2019 - 04:29 PM

 

 

I think management is on track and this will reflect positively on the share price. 

 

Let's hope so, this one is retirement money as far as I'm concerned ;) 


  • 0

#58 andi222

andi222

    Little Master

  • Members
  • PipPipPipPip
  • 510 posts

Posted 26 February 2019 - 03:36 PM

I looked at the results again, looks really bad at first but if you dig deeper one can see there is progress. If we look at the future we have a order book which is 2 billion rand higher then 6 months ago, Net debt sits at 35 million from 1,3 billion debt 6 months ago. 

 

"OUTLOOK AND PROSPECTS A positive outlook for McConnell Dowell is supported by growing markets that will sustain robust demand for new infrastructure. The economies of Australia and New Zealand are expected to be strong and stable in 2019 and 2020 as a result of several large-scale infrastructure projects that are underway and strong demand in the road and rail transport infrastructure sectors along the east coast of Australia, driven largely by higher levels of public spending by the Australian government. Against this background, McConnell Dowell will grow and diversify its order book in selected markets. The ECI status ensures that McConnell Dowell is well positioned to secure additional work in the near term. The business continues to focus on improving the consistency of its project execution. Moolmans’ immediate focus is on fully implementing the remedial actions of the Group-led turnaround intervention. Moolmans is also focused on optimising and extending contracts in its current portfolio to restore planned operational and financial performance. Moolmans continues to pursue selected new opportunities in improving market conditions. Grinaker-LTA has a limited order book and prospects for acquisition of new work in subdued operating conditions. Businesses earmarked for disposal within the operating group continue to be right-sized to achieve the financial objectives of potential new shareholders." (extract of the aveng interim financials)

 

I think management is on track and this will reflect positively on the share price. 


  • 0

#59 andi222

andi222

    Little Master

  • Members
  • PipPipPipPip
  • 510 posts

Posted 25 February 2019 - 05:52 PM

NAV at 17 cents, but gee results are horrible. Or do u guys think there is hope?


  • 0

#60 andi222

andi222

    Little Master

  • Members
  • PipPipPipPip
  • 510 posts

Posted 25 February 2019 - 02:41 PM

So in the last financial statements the following was displayed: Jun’18 Rm Jun’18 adjusted Rm Gross Debt 3 309 1 830 Cash 2 076 2 569 Net cash / (debt) (1 233) 739 Equity 2 594 4 574 NAV per share (Rand)(Based on 20 billion shares) 0,13 0,23 If we could just see that net cash is around 700 Rm and NAV around 20 cents I'm really impressed with management. Let's see what interim have in store for us this afternoon.
  • 0





Sponsored by Sharenet and VPSNine Linux VPS Hosting