New Risk • Nov 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (155% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€12.8m market cap, or US$13.5m). お知らせ • Oct 20
Jolt Capital Targeted Opportunities Fund, Ambrosia Investments Limited and Jolt Capital SAS proposed public withdrawal offer to acquire an remaining 10.92% stake in Alpha MOS S.A. (ENXTPA:ALNEO) for €1.4 million. Jolt Capital Targeted Opportunities Fund, Ambrosia Investments Limited and Jolt Capital SAS proposed public withdrawal offer to acquire an remaining 10.92% stake in Alpha MOS S.A. (ENXTPA:ALNEO) for €1.4 million on October 18, 2024. A cash consideration valued at €0.5 per share will be paid by Jolt Capital Targeted Opportunities Fund, Ambrosia Investments Limited and Jolt Capital SAS. The OPR will be open for a period of 10 trading days with the aim of providing liquidity to the Company's minority shareholders and, if the conditions are met, of delisting the Company in order to reduce the cost constraints associated with listing. The Offer does not cover shares that could result from the exercise of stock options that have been the subject of a non-exercise commitment by their holders until the later of the following two dates: the result of the OPR or the possible implementation of the mandatory squeeze-out. In addition, the Offer does not cover bonds convertible into shares issued by the Company (the " OCA "), the sole holder of the OCA having undertaken not to tender these securities to the Offer or request their conversion until the later of the following two dates: the result of the OPR or the possible implementation of the mandatory squeeze-out. Thomas Hachette of Sorgem Evaluation has been appointed by the Board of Directors of the Company decided on May 21, 2024, upon recommendation of the ad hoc committee. Board Change • Jul 18
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 4 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Chairman of the Board Laurent Samama is the most experienced director on the board, commencing their role in 2016. Independent Director Catherine Lefevre was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. お知らせ • May 26
Alpha MOS S.A., Annual General Meeting, Jun 27, 2024 Alpha MOS S.A., Annual General Meeting, Jun 27, 2024. Location: 4 rue brindejonc des moulinais, zac de la grande plaine, immeuble le colombus, toulouse France Reported Earnings • Apr 26
Full year 2023 earnings released Full year 2023 results: Revenue: €5.18m (down 23% from FY 2022). Net loss: €4.74m (loss widened 76% from FY 2022). New Risk • Apr 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 155% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Negative equity (-€5.7m). Shareholders have been substantially diluted in the past year (155% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€15.5m market cap, or US$16.5m).