Aston Martin Lagonda Global Holdings PLC (AML)

[PinkDalek]

Some (non) News for beleaguered shareholders, possibly.

https://uk.finance.yahoo.com/news/billionaire-lawrence-stroll-seeks-major-131426226.html

https://uk.finance.yahoo.com/news/f1-billionaire-considering-bid-aston-113311178.html

[PinkDalek]

From late on Friday the Thirteenth 2019:

RNS Number : 8943W
13 December 2019
Released 17:05

Statement re Press Comment
https://www.londonstockexchange.com/exc ... 49052.html

Extract only;

Aston Martin Lagonda (the "Company") notes recent press speculation.

The Company confirms that it is reviewing its funding requirements and various funding options. It is also engaged in early stage discussions with potential strategic investors in relation to building longer term relationships which may or may not involve an equity investment.

A further announcement will be made as and when appropriate.

[PinkDalek]

No-one here appears to be interested, so I haven't bothered posting links to the Trading Statement*** and Clarification on 7 January, but now see:

Aston Martin jump on reports of talks with China's Geely
https://www.hl.co.uk/shares/stock-market-news/company--news/aston-martin-jump-on-reports-of-talks-with-chinas-geely

Still many MPH off the October 2018 initial offer price of £19.00.


*** Summarised here by MrC viewtopic.php?p=275646#p275646

[PinkDalek]

Strategic equity investment of £182m by a consortium led by Lawrence Stroll (the "Consortium") and proposed rights issue supported by the major shareholders of £318m to raise combined proceeds of £500m
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AML/14405224.html

Includes:

· A proposed placing of 45.6m new ordinary shares in the capital of the Company at a price of £4.00 per share to the Consortium (the "Placing") to raise £182m, representing 16.7% of the post-Placing issued share capital of the Company.
· A subsequent proposed underwritten rights issue to raise £318m (the "Rights Issue") to be launched after the publication of the Preliminary Results for 2019.

+26.20% ( +105.50) 15 minutes ago.

Decisions, decisions.

[ReformedCharacter]

Strategic equity investment of £182m by a consortium led by Lawrence Stroll (the "Consortium") and proposed rights issue supported by the major shareholders of £318m to raise combined proceeds of £500m
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AML/14405224.html

Includes:

· A proposed placing of 45.6m new ordinary shares in the capital of the Company at a price of £4.00 per share to the Consortium (the "Placing") to raise £182m, representing 16.7% of the post-Placing issued share capital of the Company.
· A subsequent proposed underwritten rights issue to raise £318m (the "Rights Issue") to be launched after the publication of the Preliminary Results for 2019.

+26.20% ( +105.50) 15 minutes ago.

Decisions, decisions.

Bargepole territory for me. When the IPO happened in 2018 I thought it would end in tears. The thing is, few of these attempts to revive distinguished, elderly motor manufacturers end well. A quick look at the AM Wikipedia history suggests that AM has been bust c.10 times since 1913. I'm confident that it will go bust again. Yesterday I glanced at an article about the demise of Norton motorcycles, thinking that it was one of those 'down memory lane' type articles probably retelling the demise of the company in the 70's but no, it's bust again, this time with the suspicion of fraud too.

https://www.theguardian.com/business/20 ... nd-scandal

RC

[PinkDalek]

Bargepole territory for me. When the IPO happened in 2018 I thought it would end in tears. ...

Glad to have had a response and I've seen similar comments before. None of which I disagree with.

Our small holding is sentimental (yes, I know), bought for a specific reason (not at anywhere near the IPO price) and comes effectively with a 40% IHT discount (being in a SIPP) if there's any value left! Doubt we'll take up the rights but will probably retain for the fun of it. If it goes to zero then so be it.

Yesterday I glanced at an article about the demise of Norton motorcycles ...

"We" used to act for NVT (and Manganese Bronze) back in the day (1970s) but I'll say no more.

[ReformedCharacter]

The luxury sports car manufacturer also announced on Thursday that its chief financial officer, Mark Wilson, would step down by the end of April, after a year that left the company facing a cash crunch threatening to push it into bankruptcy for the eighth time in its 107-year history.

Aston Martin said losses before tax rose to £104m in the year to 31 December 2019, a 53% increase year on year.

Revenues slumped by 9%, to £997m, matching a decline in sales. Debt rose to £876m at the year’s end, more than seven times adjusted earnings for the year.

Shares fell 14% to hit a record low of 328p after the announcement. That left the company worth less than a fifth of its value at the time of its stock market float in October 2018, when shares were priced at £19.

https://www.theguardian.com/business/20 ... us-warning

RC

[PinkDalek]

Followed on the same day at 7:00am, 27 February 2020, with the expected Rights Issue announcement, placing etc:

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BFXZC448GBGBXSTMM.html?lang=en

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AML/14439270.html

14 for 25 fully committed and underwritten c.£317 million Rights Issue ...

The issue price of 207 pence per New Share represents:
o a discount of 47% to the Closing Price on 26 February 2020 (being the last business day prior to the date of this announcement); and
o a 36% discount to the theoretical ex-rights price of 325 pence per New Share calculated by reference to the Closing Price on the same basis. ... etc.

[ReformedCharacter]

Aston Martin shares fell to a historic low after its fundraising push fell flat when not all investors bought discounted stocks offered to them.

The shares tumbled as low as 129.25 pence per share, which took the losses borne by early investors in the car maker to more than 90pc. The decline took the company to a valuation of £903m before the shares recovered some ground.

https://www.telegraph.co.uk/business/2022/09/28/aston-martin-shares-fall-record-low-fundraising-push-falls-flat/

RC