AVA

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10.5¢ ava risk group limited

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SteveSage

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31/08/20

11:39

Post #: 46947729
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Originally posted by Victor24: ↑

@SteveSage yes I agree with you on the Basham comments you make. It is puzzling, as he is the one who drove the excellent circa $9.5m turnaround of Ava, and also saw the "maiden" profit at 1H20 - some 5 years after the company listed. He also lead the company's growth through COVID-19, during which the benefit of being Ava being diversified shone through, with Service's great results coming to the fore, and with more IMOD revenue being recognised, and the company posting it's first FY profit ever!
It'll be interesting to read the Annual Report to see if there are any more insights to be gleaned about why he left. I personally reckon its that he has been had hunted to go somewhere else to fix another "ugly duckling". He certainly turned Ava around and made it the "swan" we all know it really is.
Or maybe he wanted more money for his FY2021 package than the board was prepared to pay him? It would be funny if it was the reason, given that Fergus was on circa $650k only a year ago, Horton the GM Sales (who Basham also replaced) was on circa $340k, and Broomfield was on circa $350k - all at a time when the company was not profitable and was burning through cash like drunken sailors! Remember the CR they had to do basically 10 minutes after he got there! (see https://www.theavagroup.com/wp-content/uploads/2019/09/AvaGroup-AnnualReport2019.pdf p32).
Anyway, to finish up the bird metaphors, I just hope that Broomfield, who lead the company to IPO in 2015 and then burned through all of the $25m IPO funds raised, and then (with Fergus) subsequently accumulated the $30m in losses we have on the books until Basham took over, doesn't kill the "goose that laid the golden egg" now that he is back in charge! (see https://arichlife.com.au/ava-risk-group-asx-ava-may-offer-asymmetric-opportunity/).

DYOR

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Agree....need to watch mgmt carefully

The other issue is the share price movement.....despite all the positive notes from mgmt, the price has been rangebound ~23-23.5 which perhaps is the large seller - perhaps the final FY2020 numbers will give a firm view on the improvement, and also give some guidance given the contract wins in the services area.

AVA Price at posting: 23.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 10.5¢		Change -0.005(4.55%)		Mkt cap ! $30.4M

Open	High	Low	Value	Volume
11.0¢	12.0¢	10.5¢	$42.38K	371.1K

Buyers (Bids)

No.	Vol.	Price($)
6	309737	10.5¢

Sellers (Offers)

Price($)	Vol.	No.
11.5¢	43343	2

View Market Depth

No.	Vol.	Price($)
5	307357	0.105
11	307790	0.100
1	30000	0.097
3	115137	0.096
3	107078	0.095

Price($)	Vol.	No.
0.115	35000	1
0.120	66853	5
0.125	47872	3
0.130	222522	7
0.135	259000	4

Last trade - 16.10pm 28/06/2024 (20 minute delay)

AVA (ASX) Chart

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