+ + data and comment + +

AAV LTD; code: AVV

Website:
http://www.aav.net

Bigchart:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=AU%3AAVV&sid=0&o_symb=AU%3AAVV&freq=1&time=8&x=46&y=19

Shares: 82.1 mill. Options, unlisted: 2.55 mill, 2005-2007. Current price: $2.09. Two issues, one of 9.4 mill shares raising $13.16 mill.

The second of 8.57 mill shares raising $12 mill.

NB: THe share price went as high as $25.50 on 28 March 2000 (Dot.com days. They (ISIS at that time) were going to develop an Educational Search engine with Looksmart at one stage. Reorganisation started in Dec 2000).

April 29, 2004. Annual Meeting-Chairman's address:
http://stocknessmonster.com/news-item?S=AVV&E=ASX&N=218978

Extract: Consolidated $m 2003---2002
Revenue $104.13--$ 32.35. EBITDA $24.58--$ 2.70. PBT $12.48-- ($5.11). PAT 10.96- ($3.70). Div: 6.5 cents for the year: final of 4 cents paid in March.

Consolidated $m 2003--- $m 2002

Current assets $53.65--$25.00; Non-current assets $85.69--$44.91; Total assets $139.34--$69.91.

Current liabilities $37.54--$17.41; Non-current liabilities $29.59--$16.18; Total liabilities $67.13--$33.59

Net assets $72.21--$36.32.

Consolidated $m 2003--- $m 2002
Cash flows for operating activities $25.40-- $3.61; Cash flows from investing activities ($27.27)-- $3.31

Cash flows from financing activities $21.85 ($1.67), Net change in cash $19.98-- $5.25

Opening cash position 1 January 2003: $7.31-- $2.06, Closing cash position 31 December 2003: $27.29 --$7.31

Any new unmarketable parcels of shares will be sold.
After the Chairman, the CEO discussed rationalisation and expansion.

PREVIOUS HISTORY.
June 19, 2002: Proposed merger with AAV Australian Pty Ltd:
http://stocknessmonster.com/news-item?S=AVV&E=ASX&N=191462

Sept. 5: 2002: Fox Sports SANZAR Super 12 Rugby Contract
http://stocknessmonster.com/news-item?S=AVV&E=ASX&N=194330

May 6, 2003: Joint Venture with Regency Recordings:
http://stocknessmonster.com/news-item?S=AVV&E=ASX&N=203948

Oct. 30, 23003: + + + Presentation re Placement on Staging Connections Acquisition:
http://stocknessmonster.com/news-item?S=AVV&E=ASX&N=211230

Extract:
AAV Limited acquiring 100% of the shares of Staging Connections for $40m, with an additional amount of up to $10m in earn out.

Combined AAV-Staging Connections business will be the largest electronic media services group in the Pacific Rim.

March 2, 2004: 2003 Results - Analyst Presentation:
http://stocknessmonster.com/news-item?S=AVV&E=ASX&N=216343

Extract: Tax losses available: $31 mill. Reorganisation of SC to continue.
New venues to open in 2004
•PerthConvention Centre
•Gold CoastConvention Centre
•AucklandConvention Centre
•SydneyLuna Park Convention CentreDoltoneHouseHilton Hotel
MelbournePromenade

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.