Afferro Min Share Discussion Threads

[dow77] 27/3/2014 08:52

Nick, Barclays did respond to say that they are seeking 'clarification' from HMRC. If I don't hear within the next week or so I'll talk to them again.

Has anyone had their bonds re-instated?

Scorpione, thanks for that information.

[nickdr99] 27/3/2014 07:44

Dow with barclays too. Would be great to get mine moved back to my isa, so please keep the board informed.

[scorpione] 20/3/2014 16:32

Best of luck Dow77; Selftrade is one high profile name that has kept them in. Hopefully, other blog readers will be able to name additional ones to help your cause.

[dow77] 20/3/2014 15:28

Scorpione
I've spoken to Barclays Stockbrokers who are looking at it. With luck the bonds will be re-instated into the ISA but I'm not 100% sure.

Does anyone else still have the bonds in their ISA? If so are you happy to say who your stockbroker is? Then I might be able to use that as a lever with Barc.

TIA

[scorpione] 20/3/2014 14:52

Barius, did you hold on to your shares until cancellation? If not the buyer would have had entitlement to the notes not you. If you did not sell then the proceeds from the cancelled shares and the loan notes should be showing in your Halifax a/c. It doesn't look like you will have much luck in selling the notes before they mature in December 2015. I suggest you pick up the phone and contact Halifax if your questions remain unanswered.

[barius] 20/3/2014 13:09

Apologies for being clueless about all this! I bought afferro shares through Halifax and have no idea where the loan note is, or what to do with it.

Can anyone please explain to me how it works and what the options are.

Thanks

[dow77] 20/3/2014 09:41

Budget
Bonds issued by companies and traded on the stock market will now be eligible for an ISA irrespective of how close they are to being repaid.

Unfortunately just too late for our IMIC bonds as mine have been shunted out of my ISA (Barclays).

Noirua are your bonds still in your ISA? Are you willing to say who you are with?

[gheebee] 10/3/2014 20:02

All of which would seem to make sense if one forgets that with that equity comes another free issue to AIOG. In my opinion this points in only one direction. The decision makers probably don't care about IMIC, their aim is to transfer wealth out of IMIC and into AIOG at the first opportunity. At some point they will also arrange for their management lackies to start buying back the debt and the first in the queue will be the former Directors and one in particular. They are quite likely to buy the loan back at a very special price. One not available to anyone else in the queue behind them.

[noirua] 07/3/2014 14:41

Anyway, my bonds remain in my ISA. At some stage when IMIC have some spare cash after a placing, I guess, then they will move in and stand in the market as a buyer -- but when.
IMIC paid about 79.0p for shares in the market which was minus 1p for the bonds, so they may wait about 6 months more before moving in.
From previous experience with an Aussie bond the company was very patient and bought small amounts everyday - from memory, starting at $38 for $100 of 10% stock and going up to $78 18 months later. Then went private and a wall collapsed at a mine, went into receivership and I lost track at that point.

[bubble pricker] 06/3/2014 02:02

I have now experience using this Irish exchange, but normally in an illiquid market, potential buyers and sellers will leave orders in the market until a matching order emerges. If the Irish exchange operates a normal open order book (which I do not know if it does) then any bid offer will show up for everyone to see. Initially the spread will be wide but eventually a price should be found.

That said, I do not see any indication that the Irish exchange displays bids/offers.

[taffer87] 06/3/2014 01:06

5.2p.. but no way near 1 million

[goliard] 03/3/2014 16:29

Good to see the bidding war start (sort of).

[che7win] 03/3/2014 14:58

I will offer 5.1p.

[goliard] 03/3/2014 14:14

If there is anyone who wishes they had sold out and doesn't want the loan notes then I would be happy to offer 5p for them (subject to contract).

I haven't traded loan notes on a foreign exchange before, so I have no idea how that will work out, but it can't be that difficult to arrange. I would be happy to take up to 1 million loan notes initially.

I know it is a low price and it is only intended for people who just want to get out of the loan notes and who probably didn't realise that there wouldn't be any market that you could trade them on for the next two years.

[irenekent] 03/3/2014 11:40

taffer87

If you want to buy them I would ring a decent broker who has dealt with the Irish Stock Exchange. If all it needs is a counter-party that could be you. I think there are quite a few people on here who would like to sell their notes. I'm sure they'd be interested to hear the price you would be prepared to offer.

[darlocst] 27/2/2014 19:35

Was anyone really expecting an active market in these notes? Surely the real value is in holding them to full term.

[michaelwhight] 27/2/2014 19:19

The notes are still being held in my NatWest ISA account and show a different value every day. Weird.

[horneblower] 26/2/2014 23:59

It's a listing, not a quote.
No buying. No selling. That's not what a listing is all about.

[taffer87] 26/2/2014 23:53

Still waiting for how to buy..

[gheebee] 26/2/2014 07:58

Before too much euphoria sets in can I just remind you that IMIC is going to need as much cash as it can muster to buy out AIOG.

[taffer87] 25/2/2014 11:39

Agreed Nav_Mike.. i am as sure as possible that it will be paid in cash unless IMIC is bankrupt by then and not listed etc, which is highly unlikely.

How do I buy the loan notes.. relly tempted to buy if at all possible as can likely get them at a bargain price... (IF I can get them at all)

[scorpione] 25/2/2014 10:43

Lets hope you are right Mike; I would rather have cash anyway!!

[nav_mike] 25/2/2014 10:13

like i said....its a matched party transaction at best.

I will be surprised if IMIC dont do another bond issue to repay this one at some stage before maturity. I really cant see them converting this into shares that might be issued to persons outside of their circle of friends.

IMIC is a pretty much closed shop...I honestly cant see them allowing oiks like us to share in any success from Nkout.