Avingtrans (AVG)

Sector:

Engineering

Index:

FTSE AIM All-Share

 390.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 445.00
  • 52 Week Low: 330.00
  • Currency: UK Pounds
  • Shares Issued: 33.09m
  • Volume: 13,615
  • Market Cap: £129.05m
  • RiskGrade: 130

Avingtrans participates in £12.9m fundraise by Adaptix

By Josh White

Date: Wednesday 13 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Energy, medical and industrial technology company Avingtrans announced its £2.5m participation in a £12.9m fundraise by emerging medtech company Adaptix on Wednesday.
The AIM-traded firm said Adaptix's focus was on transforming radiology, by allowing low-cost, low-dose 3D portable imaging.

It said it had developed a number of novel technologies and imaging approaches in relation to digital tomosynthesis (DT).

At the core of Adaptix's technology is the 'Flat Panel X-ray Source' (FPS), which Avingtrans said consists of a monoblock containing an array of individually controlled x-ray emitters combined with a high-voltage power supply.

In its latest round of funding, Adaptix was raising up to £12.9m of new funds, including £2.5m in cash from Avingtrans.

As a result, Avingtrans would own about 5.9% of the total issued share capital of Adaptix, after the closing of the fund raise.

Avingtrans, through its majority-owned subsidiary Magnetica (MNA), said it intended to collaborate with Adaptix to develop a "disruptive business offering".

It said the offering would bring together low-cost 3D imaging in the form of MNA's cryogen-free MRI and Adaptix's DT, to allow fusing of image data, giving enhanced low-cost diagnostic capability, initially for orthopaedic imaging.

The target markets included around 28,000 US sites focused on minor injuries, and private orthopaedic practices.

Avingtrans said the purpose of the collaboration would be to create a broader offering to customers than was delivered by each business alone, and ultimately to bring together low-cost 3D MRI, x-ray and potentially ultrasound, in a solution which could address a "significant proportion" of all medical and veterinary imaging procedures.

In the year ended 31 March, Adaptix made a loss after tax of £0.8m.

"We are excited by the prospect of Magnetica working with the team at Adaptix, to our mutual benefit," said chief executive officer Steve McQuillan.

"As fellow travellers on parallel disruptive medical imaging paths, we believe that working together will deliver cost and market synergies for both businesses to enhance potential shareholder value, through better quality and flexible multi-modal imaging, enhancing the end customer experience."

At the close on Wednesday, shares in Avingtrans were flat at 440p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Avingtrans Market Data

Currency UK Pounds
Share Price 390.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 445.00
52 Week Low 330.00
Volume 13,615
Shares Issued 33.09m
Market Cap £129.05m
RiskGrade 130

Avingtrans Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.57% below the market average62.57% below the market average62.57% below the market average62.57% below the market average62.57% below the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average
Price Trend
17.26% below the market average17.26% below the market average17.26% below the market average17.26% below the market average17.26% below the market average
25.71% below the sector average25.71% below the sector average25.71% below the sector average25.71% below the sector average25.71% below the sector average
Income
51.83% below the market average51.83% below the market average51.83% below the market average51.83% below the market average51.83% below the market average
37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average37.5% below the sector average
Growth
9.14% below the market average9.14% below the market average9.14% below the market average9.14% below the market average9.14% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
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Avingtrans Dividends

  Latest Previous
  Interim Final
Ex-Div 23-May-24 26-Oct-23
Paid 21-Jun-24 08-Dec-23
Amount 1.80p 2.80p

Trades for 28-Mar-2024

Time Volume / Share Price
16:07 1,125 @ 381.00p
15:40 3 @ 400.00p
15:17 211 @ 381.50p
14:12 528 @ 386.70p
14:07 110 @ 380.20p

Avingtrans Key Personnel

Finance Director Stephen King
Chair Roger Steven McDowell
CEO Stephen McQuillan

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