Acg Acquisition Share Discussion Threads

[pugg1ey] 15/7/2009 08:33

In Perspective
Although DROs are aimed at providing a cheaper method of seeking debt relief, they are not an easy option to resolving indebtedness. Debtors subject to DROs will still be subject to the same restrictions as bankrupts and will only be able to access a DRO once every six years. There will be a lasting impact on the debtor's credit rating and the DRO will be displayed on the Individual Insolvency Register as currently happens in bankruptcies.

One major difference between bankruptcy and DROs is that there is no debtor's estate when a DRO is made, hence the Official Receiver will have no legal claim over the debtor's property and will not be seeking to realise assets and pay dividends to creditors. It is a basic requirement of the DRO process that debtors do not have sufficient assets or surplus income to make any realistic payment towards their debts.

Currently 11% of all bankruptcies would have qualified for a Debt Relief Order. The Insolvency Service anticipates that there will be within the first year of DRO availability up to 21,000 DRO applications, with a middle estimate of 14,000. It is projected that this will rise to up to a maximum of 43,000 in the second year of operation, with a middle estimate of 26,000.

From April 09 Debt Relief Orders will be an option for clients to consider and organisations will therefore need to ensure that they are able to provide this service or have suitable referral systems in place to organisations which do.

[pugg1ey] 15/7/2009 08:29

DRO's are not as simple as it says on the tin.

Eligibility for a DRO
In order to be eligible for a DRO a debtor must satisfy stringent qualifying conditions, including full disclosure of his income and expenditure. The principle parameters for a DRO are liabilities of less then £15,000, assets under £300 and a disposable income of less then £50 per month. The Official Receiver will then carry out certain checks to verify information provided. Applicants will be allowed to have a vehicle with a value of less than £1,000.

[moreforus] 15/7/2009 06:37

and there's more...



Think tank warns on UK finances

The government is facing a reduction in tax revenues
The deteriorating state of UK public finances means the next government will have to deliver tax rises and spending cuts, a think tank has warned.

The Centre for Business and Economic Research (CEBR) says a £100bn programme of cuts and tax rises is needed to repair the UK's public finances.

The CEBR says its proposed programme is needed to get the UK's budget deficit down to £50bn by 2014/15.

The UK recorded a record budget deficit of almost £90bn in 2008/09.

'Political necessity'

The CEBR says that if the Conservative party wins the next general election then the deficit will be plugged with £20bn in tax rises and £80bn in spending cuts.

And it says if Labour holds on to power then it predicts £40bn in tax rises and £60bn in spending cuts.

"It is likely that any government - particularly a new one - will be forced by political necessity to announce its fiscal consolidation programme early while it is still possible to blame the need for it on the previous government," said CEBR chief executive Douglas McWilliams.

"And it will look to achieve most of its results within a parliament."

The CEBR believes that the UK economy will contract by 4.1% this year - a more pessimistic outlook than the official 3.5% Treasury estimate - before growing by 0.6% next year and 0.9% in 2011.

Mr McWilliams said the recovery would be "sluggish", which will lead to lower tax revenues and more money spent on unemployment benefits.

[moreforus] 15/7/2009 06:37

and there's more...



Think tank warns on UK finances

The government is facing a reduction in tax revenues
The deteriorating state of UK public finances means the next government will have to deliver tax rises and spending cuts, a think tank has warned.

The Centre for Business and Economic Research (CEBR) says a £100bn programme of cuts and tax rises is needed to repair the UK's public finances.

The CEBR says its proposed programme is needed to get the UK's budget deficit down to £50bn by 2014/15.

The UK recorded a record budget deficit of almost £90bn in 2008/09.

'Political necessity'

The CEBR says that if the Conservative party wins the next general election then the deficit will be plugged with £20bn in tax rises and £80bn in spending cuts.

And it says if Labour holds on to power then it predicts £40bn in tax rises and £60bn in spending cuts.

"It is likely that any government - particularly a new one - will be forced by political necessity to announce its fiscal consolidation programme early while it is still possible to blame the need for it on the previous government," said CEBR chief executive Douglas McWilliams.

"And it will look to achieve most of its results within a parliament."

The CEBR believes that the UK economy will contract by 4.1% this year - a more pessimistic outlook than the official 3.5% Treasury estimate - before growing by 0.6% next year and 0.9% in 2011.

Mr McWilliams said the recovery would be "sluggish", which will lead to lower tax revenues and more money spent on unemployment benefits.

[moreforus] 15/7/2009 06:32

Job cuts 'hit two in three' in UK

Most people know someone who has lost their job
Two-thirds of people across the UK know someone personally who has lost a job in the recession, a BBC poll has found.

A further four in 10 fear losing their job in the current climate, the survey of 1,048 people by ComRes found.

But while concerns about employment may be increasing, most people believe the worst may be over - despite believing the economic situation remains tough.

While 34% think things will worsen, 52% hold the view that the economy will not improve for a while yet.

A further 12% hold the optimistic view that things are improving.

The BBC commissioned the survey to mark its Taking The Pulse day, which is looking at how the recession is taking effect across the country.

However, when looking at people's attitudes across age and social groups, older and less wealthy people are more pessimistic.

Just 12% of people aged 65 and over expect their finances to improve over the coming year, compared with 36% of 18 to 24-year-olds.

[orlando99] 14/7/2009 20:52

re-economic data. In about 10 days the insolvency stats will come out for Q2. I suggest you pay attention to the number of bankruptcies reported. People are going straight to bankruptcy not to debt management - the bankruptcy figures should not be read as a positive for this stock due to -

bankruptcy is rapidly losing the traditional stigma associated with it.
DRO's launched in April are making bankruptcy even less spooky
unemployment forces you to bankruptcy not DMP

Surprised you guys didnt pick up on the announcement today re stalling of regulation on DMPs?

[pugg1ey] 14/7/2009 13:30

we'll get an MBO in august

[moreforus] 14/7/2009 13:13

up on no volume..CLEA marked up too - any rosy economic data??

[pugg1ey] 06/7/2009 12:47

think it's battlebus

[moreforus] 06/7/2009 11:05

who he:-

Accuma Holding(s) in Company





TIDMACG

RNS Number : 1607V
Accuma Group PLC
06 July 2009

Accuma Group plc
('Accuma' or 'the Company')
Notification of Interest
The Company was notified on 6 July 2009 that, further to the acquisition of
50,000 ordinary shares in December 2008, Graeme John Whittaker holds 1,025,000
ordinary shares. This holding represents 3.13% of the Company's issued ordinary
share capital.
For further information please contact:
+---------------------------------------------------------------+--------------------+
| Accuma Group plc | [phone] |
| Charles Howson, Chief Executive | 6787 |
| | |
+---------------------------------------------------------------+--------------------+
| FinnCap (Nominated Adviser and Broker) | [phone] |
| Marc Young / Geoff Nash | 1658 |
+---------------------------------------------------------------+--------------------+

[battlebus] 02/7/2009 19:49

He,s sure a smart guy! In six months he,ll double his money.

[moreforus] 02/7/2009 09:11

someone just paid a 1p premium for 50k...

[moreforus] 02/7/2009 09:11

oh look its gone all blue!

3rd wave forming

[moreforus] 30/6/2009 16:21

another 50k picked up at end of day at 11p..so someones buying...

[moreforus] 30/6/2009 13:19

hi happy campers

level 2 just firmed ..

3 vs 1..

had a big buy today...

[orlando99] 27/6/2009 17:04

I would just reiterate some of the points I and others have made - the lack of communication is a killer and I believe it fundamentally affects the value rather than disguising it.
Those of you that are holding need to pay particular attention to the marketing strategies of B&K - have they got one? are they burning some of the cash on this activity and how good is the return? - they are very unlikely to outperform the market leaders pound for pound and just as unlikely to take them on.
I agree that a buyout on the cheap is the most likely outcome - hence not much hope for a high price.

[jonnybig] 27/6/2009 14:39

The communication from Accuma to its shareholders has been worse than appalling, both via the non existant replies to emails to no RNS for months before the disposal announcement. It's partly due to this that there's a distinct lack of confidence that Accuma will return any of this cash pile to its shareholders, and the suppressed share price demonstrates this. What's to say the management don't award themselves a huge bonus out of the cash pile for "masterminding" the disposal? Nope, don't trust this lot at all. All IMHO of course, I could be wrong, best of luck to all you who hold the faith.

[moreforus] 27/6/2009 13:07

-> i was disappointed with the price over the last few weeks but taking a step back....

it'll bounce soon - look at the chart ..looks like there's a 3rd wave forming

all small caps, even obvious winners are taking a pounding over the last few weeks, bizzarely as economic forecasting (world bank, oecd on the uk) turns negative - pi's sell those stocks that will actually do well in challenging economic times....

[pugg1ey] 25/6/2009 16:47

'The Group remains debt-free and at the end of April had a cash position of
GBP1.9m, which is expected to increase to approximately GBP6m following
completion of the disposal of the insolvency division.


The funds realised from the disposals will be retained by the Group whilst the
Board considers its strategic options, and the best way of delivering value to
shareholders'

[pugg1ey] 25/6/2009 16:34

so 6 million in the bank doesn't count for much then?