Ann: AVA FY2021 Trading Update & Outlook, page-118

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Access2020

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04/08/21

15:39

Post #: 55028817
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Originally posted by Access2020: ↑

Ok, here's another update on Alkasab and some feedback I've had from management.

On Alkasab, management are working with Canaccord to help find new buyers for this stock. Watch this space I guess.
Management will do an investor roadshow post results (due August 30th). This could/should increase interest - always a good thing to be in the market
Finally, the company is looking to get more analyst coverage, which I personally think is a great thing as that puts the company on the radar of funds and professional investors.

I know @SteveSage likes these updates, but since their last documented sale on 2nd June, Alkasab via Goldman Sachs has been a heavy seller. Just to reiterate for those either new to the stock or these posts, I've matched previous trades to GS and given very limited fund ownership, GS trading is basically a proxy for Alkasab. The small volume buying could be GS being funny to create some buying so they can distribute more volume.

Also, the two biggest buyers have been retail. For the stock to move materially higher, we need Alkasab to fully exit/stop selling AND increased insto ownership. Personally, I think the catalyst will be the first AuraIQ sale, which is expected this half. Given low volume, it will not take too much of a bid for the SP to respond in a VERY POSITIVE way.

So as at 2nd June Alkasab had 10.45m shares left. If we take the net change in GS volume then Alkasab should have 6.67m shares left. That brings them down to around 2.8% of SOI (roughly). GLTAH

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Biggest volume day in a month and some of those larger and stale ask offers were taken out.

I wonder if this has anything to do with Canaccord and trying to get new funds on board. I’ll check the broker data when it’s available but I’d assume that we’ll see Alkasab’s interests further reduced. Onwards and upwards from here hopefully
Last edited by Access2020: 04/08/21

AVA Price at posting: 48.0¢ Sentiment: None Disclosure: Held
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