Avingtrans (AVG)

Sector:

Engineering

Index:

FTSE AIM All-Share

422.50p
   
  • Change Today:
      10.00p
  • 52 Week High: 455.00
  • 52 Week Low: 264.00
  • Currency: UK Pounds
  • Shares Issued: 32.13m
  • Volume: 19,774
  • Market Cap: £135.73m
  • RiskGrade: 130
  • Beta: 0.49

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 422.50p
Change Today 10.00p
% Change 2.42 %
52 Week High 455.00
52 Week Low 264.00
Volume 19,774
Shares Issued 32.13m
Market Cap £135.73m
Beta 0.49
RiskGrade 130

Avingtrans Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.52% below the market average63.52% below the market average63.52% below the market average63.52% below the market average63.52% below the market average
9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average
Price Trend
80.46% above the market average80.46% above the market average80.46% above the market average80.46% above the market average80.46% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
80.35% below the market average80.35% below the market average80.35% below the market average80.35% below the market average80.35% below the market average
22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average
Growth
69.71% above the market average69.71% above the market average69.71% above the market average69.71% above the market average69.71% above the market average
87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average87.50% above the sector average

Avingtrans Dividends

  Latest Previous
  Final Final
Ex-Div 28-Oct-21 24-Oct-19
Paid 10-Dec-21 06-Dec-19
Amount 4.00p 2.40p

Trades for 07-Dec-2021

Time Volume / Share Price
17:07 2,500 @ 422.50p
16:10 1,000 @ 430.00p
15:47 2,500 @ 428.00p
15:35 3,090 @ 417.40p
14:22 333 @ 429.00p

Avingtrans Key Personnel

Finance Director Stephen King
CEO Stephen McQuillan

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