UK 07:55 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Mast Capital the US hedge fund has been the biggest supporter of drowning in debt Avanti Communications (AVN), time and again doubling down on its disastrous investments. But have you noticed this?
112 minutes after the stockmarket closed on the Friday before Christmas Avanti Communications (AVN) published a red flag strewn annual report. I have already raised one mighty red flag HERE and more will follow. But now just consider how the bombastic prick of a CEO David Williams was rewarded so handsomely for failure. Shares in Avanti are just 23p today. They were c£8 when Williams sold millions of quid worth of shares as he ramped away after the launch of Hylas 1 back in 2011.
Avanti Communications (AVN) finally published its annual report for the year ended June 30 2016 at 2.22 PM on the last Friday before Christmas, 112 minutes after the stockmarket closed. It is packed full of red flags which perhaps explains the publication at no-one is watching O'Clock. So let's start with an admission of what a crap business this is - the metrics on HYLAS 1.
Shares in drowning in debt Avanti Communications slumped again on Wednesday to a new record low of 18p - the market cap is now just £27.6 million and death is imminent. As I pointed out at the weekend, its shares could be suspended on December 30th but its real worry is insolvency - it will be out of cash by January and it looks impossible to refinance. The cry is Timber! This once mighty AIM play is falling and will soon be lying as a rotting corpse on the forest floor. Where has all the money gone?
Well here is an early Christmas present for all good bears, Avanti Communications (AVN) has sort of fessed up to the fact that its shares may be suspended from the AIM Casino on 30th December and that it may be facing a new bond default. Oh dear. If that is not a cue to sell as fast as you can, what is?
Having seen Cloudtag (CTAG) demonstrate one of the golden rules of share trading here is another: run for the hills when a company starts messing with its creditors. Step forward Avanti Communications (AVN).
Surely it is only a matter of time before cash burning and downing in debt satellites group Avanti Communications (AVN) calls in the receivers? Keen to assist and bring forward that great ouzo o'clock day for we members of the global shorting conspiracy, I have some more bad news today. Oh dear. Oh dear.
There is a philosophical game called the fishing village. And today we saw this played out in reality by Avanti Communications (AVN) as it struggles to avoid insolvency.
Ceteris paribus Avanti Communications (AVN) will be trading whilst insolvent within weeks - its cash will not be sufficient to meet contracted capex and bills payable. That is why it is delaying publishing audited results for the year to June 30th 2016 - no auditor is going to sign off on anything from what is an insolvency waiting to happen. Avanti is trying to hide the awful truth but industry sources are revealing its desperate measures to stay afloat.
The FRC is already looking at the grossly misleading way that Avanti Communications (AVN) bodged its June 2015 annual results. I reckon Avanti is trying to commit an even bigger crime against prudent accounting with its 2016 numbers and they key is a satellite which is now on the move. But Avanti and its ghastly and morally bankrupt Nomad Cenkos, of Quindell infamy, are trying not to reveal the truth. So have five critical questions for Avanti and the shamed Cenkos.
Hat tip to reader G for fisking the horseshit RNS from Avanti Communications (AVN) on Friday which should be read as a tacit admission that the game is over. This remains a slam dunk sell and almost certain zero. Here's why.
A few years ago when listed high street retailers were going down like ninepins they would invariably have the decency to inform shareholders that their equity was worthless shortly before implosion. “Little or no value” was the usual phrase.
They don’t call this the silly season for nothing. Shortly after Inmarsat (ISAT) announced on August 1st that it was not interested in Avanti (AVN), a story appeared in the FT saying that it had in fact been willing to pay “at least” 140p per share (subject to due diligence) right up until the end of July, around five times the price at the time.
