|Absolute Capital Mgmt Hldgs
||EPS - Basic
||Market Cap (m)
Real-Time news about Acmh Ltd (London Stock Exchange): 0 recent articles
|trentjones1: Had a good look at this. Seems that they are well on the road to recovery. Share price does not reflect the actual position. Should be around 10p - 12p.|
|dina: This does look interesting. I can't understand why the share price is so low considering the size of this company?|
|nickcduk: Not sure how the hell the share price hasnt collapsed today post Argo record date. Was tempted to pick up a few ACMH around 30 a couple of weeks ago just for the ARGO shares but unfortunately didn't press the button. Now following ARGO disposal the shares are still worth more than 30p. I expect that MM and shareholders haven't really picked up on the record date and hence the shares haven't been trashed this morning. Sold a few short this morning.|
|andrbea: LONDON (Thomson Financial) - Absolute Capital Management Holdings Ltd said its shareholders have approved the restructuring of Absolute European Catalyst Fund Ltd, Absolute Octane Fund Ltd, Absolute Return Europe Fund Ltd and Absolute East West Fund Ltd.
The restructuring will start from Nov 1.
The AIM-listed hedge fund sent an urgent letter to investors last week asking them to vote in favour of the restructuring proposals, as the funds were likely to begin liquidation very soon if the plans were not approved.
Absolute Capital saw trouble recently after six of its eight funds reported losses in net asset value for September. That was followed by the unexpected resignation of founder Florian Homm and a slump in share price.
Chief executive Jonathan Treacher suspended the group's equity funds and proposed a restructuring programme after illiquid investments that left Absolute Capital unable to meet redemption requests came to light.
At 9.15 am, the group's shares were up nearly 18 pct at 81.50 pence.|
|kimoldfield: To keep you up to date:-
24 October 2007
"The Company announces that it has sent each investor in the Absolute Return
Europe Fund Limited, Absolute European Catalyst Fund Limited, Absolute Octane
Fund Limited and Absolute East West Fund Limited an urgent letter requesting
them to complete and return their proxy forms in order to vote in favour of the
restructuring proposals at the extraordinary general meetings of these funds to
be held on 27 October 2007."
26 October 2007
"Absolute Capital has today been notified that Susan E. Devine Homm no longer has a notifiable interest in the issued share capital of the Company."
27 October 2007
Investors voted through the restructuring proposals at the meeting.
28 October 2007
The leading lawyer representing Absolute shareholders said today that they would be demanding a thorough explanation of why as much as $500m (£244m) of Mr Homm's investments had turned out to be in lightly regulated and illiquid American stocks, listed only on bulletin boards and traded over the counter. He said that investors had been unaware of the nature of the funds' holdings.
William Rodger, the financial litigation partner at Simmons & Simmons, which has been working for the Absolute Investors Action Group, said that the agreed restructuring was not the end of the matter for shareholders.Mr Rodger declined to be drawn on the Action Group's next move before discussions with investors that are expected to take place this week, but he ruled out the need for a criminal investigation.
Mr Rodger said that investors had voted in favour of the proposals because of concessions made by Absolute last week. Investors had been particularly concerned about the level of performance fees for Absolute's managers, who could have reaped a substantial windfall if the fund rebounded in value once the restructuring had been approved. Absolute's share price, which slumped 70 per cent in the days after Mr Homm's exit, is expected to gain ground this week.|
|andrbea: more from other site
i see a slowdown at 120p to 180p then im not sure, i think it will go higher===another time is near the time the bonuses are paid out, i think around Christmas time, these times i think the share price might be up and down etc.but they have one year to get this right==so to be safe in eleven months time i will sell most of my shares then keep some and then reinvest a few months later if the management and fund managers are good, and i think they are very good at what they do.
|andrbea: other site (post 13.13h by starydynamo)
a good summary IMO:
the fall was because ACMH have invested in some shares =like penny shares= that are easy to buy but difficult to sell=
HOMM had previously been in another group and he was fined by German Regulators==
A lot of the funds and investments ACMH businesses HOMM had a hand in running.
He left saying everyone to blame not him, he sells most of his shares at a price so low that it seems to show that he comes from a very rich and powerful German family, and does not care about a few million ££££££ =and he gave shares to settle his divorce with his wife,
to show his arrogance he walks away from everything, and by his actions seems to say ==money is nothing to him, he can afford to throw money away,
ACMH very quickly get someone who has the backing and respect of the fund managers, Andeas Railas buys the 10 million shares HOMM has, leaving HOMM with 4million== HOMM is history,== BUT HE and ACMH might be sued in the future because of the way some shares and the type of shares bought, The new management and old management know this=
The facts are out there, they have per share 30p cash and value from the business they bought 150p total 180p ==if as i expect the share price will keep going up there is a lot of serious big money to be made at this low price, and all the bad shares they have, they have one year to sell them, and some will make money, others will be kept, and it might be they do so well that 475p will come again or it might go away above that,
if this management can get the price above 470p then noone will bother to sue them,BUT in one years time the price is only 300p or less 120p or 70p or less, then there is a very good chance they will be sued====so what we as shareholders have, is a share that it is in everyones interest to see going up==they have one year==so you and i have one year= =then when one year nearly up=
=i will decide if i should sell=
=until then this might be the one share that will make me a lot of money=
There will be some very rich people who invested in ACMH and lost millions, they will have their lawyers looking at who to sue, and they may wait will see how far this share price will rise or fall before they decide to sue or not.
I think this share has one year to rise in value, like the people in the funds, i will wait, after that it is then the time to decide to sell Or keep hold of ACMH|
|nickcduk: Not really of much use now but if you want to see the major holdings that ACMH have declared:-
Just have a click through the various companies share price graphs to see how badly they have performed.
I imagine Florian Homm has made a sharp exit to somewhere with very lax extradition treaties. Sean Ewing can not imho in anyway suggest he didn't know what was going on. This fraud has been going on since day 1 probably. Note how all the funds tended to get off to flying starts. All helpful for marketing purposes. Whoever was doing the auditing the valuation of funds is also going to liable for a lot of stick. Sad sad state of affairs.|
Absolute Capital Management
Our view: Buy
Current price: 529p
Until recently hedge funds shied away from listing on the public markets; if your reputation is built on secrecy, opaqueness and servicing only the super-rich, it paid to stay away from prying eyes.
But Absolute Capital Management has been public for a while and its share price is up nearly 300 per cent since listing in March last year. At the very least, yesterday's trading update justified the surge in its share price. The company now has more than $3.1bn of assets under management, more than double the amount it was managing just six months ago.
It runs its suite of 12 funds on a absolute returns basis - meaning that its funds are not benchmarked against any index. Absolute returns mean that the manager seeks to make a positive real-term return regardless of the volatility in debt or equity markets.
The company also confirmed the creation of a new division, Absolute Capital Property, and the acquisition of 100m of new assets for 12.5m, previously run by another AIM-listed fund manager, North Asset Management. The deal, although relatively minor in terms of numbers, should give ACM a decent foot in the door to the lucrative real-estate hedge fund arena.
Importantly, ACM's staff owns 34 per cent of the stock.
In spite of its strong recent rally, investors in favour of the bigger names in the industry have largely overlooked ACM. But continue to ignore ACM at your peril - the shares trade on a significant discount to their peers and, according to house broker Panmure Gordon, a 700p share price implies just 10.4 times forecast 2007 earnings. Buy.|
|saucepan: An interesting and encouraging article Rik, thanks for drawing to attention. ACMH's share price performance has been rather disappointing since I bought in a few weeks ago on the strength of the write-up in Investors Chronicle. However, the consolidation is healthy, and I expect the share price will make up for lost time once it decides to get a move on; the convincing fundamentals would suggest such a scenario. Indeed, the triangle pattern that appears to have formed looks promising technically, too.|
Absolute Capital share price data is direct from the London Stock Exchange