re: tex4qld Sorry for late reply CG I don't scan AVV on a...

re: tex4qld Sorry for late reply CG I don't scan AVV on a regular basis, but I'm happy to say that I'm also back into this stock as of today !

Director is buying, so I had a good look at the figures and I agree that it's looking much better.
Interesting times ahead for AVV now that they have divested the loss making sectors, and retired $14 million in debt since June 2005.

They also have a swag of cash, Approx $16 million in the bank, and will have a further $17 million when Regency comes in.
This company has returned to profitability and will have a war chest of over $30 million, given that the market value is only $76 million......I think we will see $1.30 without too many problems ;-)

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“Following the completion of the sale of AAV Regency (for $22 million), we will retire debt of $5 million associated
with plant used in that business, giving us net cash inflows of some $17 million, plus our 51%
share of cash and excess working capital at completion. Completion is scheduled to occur on the
earlier of 30 June 2006 and the date of completion of any on-sale of the business by Regency.
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Financial Position
The Group Statement of financial position reflects total assets of $109.6 million (30 June 2005,
$119.6 million), equity of $63.6 million (30 June 2005, $58.2 million) and net bank debt of $Nil (30
June 2005, $14.1 million).

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