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Real-Time news about Appian (London Stock Exchange): 0 recent articles
|mred406: FSA do not seem interested.
Im sure something can be done here as this is no less than fraud!
How many holders here lost money on Appian???
This was the email I recieved the day of suspension...
Thank you for your email. The trading was suspended in order to investigate the drop in a share price. According to our management explanation another company with trading name APN from Australia have sold their shares thus the misunderstanding.
Management team assured that company is still moving forward and trying to raise the funds.
|mred406: Does this bit sound truthful?
The trading was suspended in order to investigate the drop in a share price. According to our management explanation another company with trading name APN from Australia have sold their shares thus the misunderstanding.|
|will1734: I have to admit that i was not sucked in by anyone...saw the price had fallen and peeps selling..so i thought whats gone wrong here?
Saw their was a announcement that Independent News says to sell APN stake to cut debt
Found out later that this did not apply to Appian so I thoght all this was down to a mistake and would rectify the share price later.....then RNS from company about delisting...I therefore do not put the blame on anybody but myself for trying to make a quick buck ...£750.00 down the tubes..only pleased I was't to greedy and bought million|
|induna123: It's all about proving (to whoever gives them the money) that they have a business worth saving. This is the only salent point now. Everything else is irrelevent.
About tapping shareholders, look at Stanelco (SEO), went from 30p to 0.20p.
3 billion shares in issue, it can happen even if the share price is half a penny!|
"seems a coincidence that based on rumours its share price plumments at the same time as the Independent announcement."
My sentiments entirely... This announcment brings in a few sellers and the sheep follow ...I have finished posting my opinions now..see what happens Monday. ...my guess is a restoration.|
|cygnet4: What happened on Friday seems odd. Independent Newspapers say in the morning they are selling their stake in APN in Australia and our APN price crashes. Why not then issue a statement to clarify the position. Conversely if APN is in trouble it seems a coincidence that based on rumours its share price plumments at the same time as the Independent announcement.
The company may need financing as this seems a regular event but if this was via a placing it then seems odd to suspend at less than 1p when a denial would have seen the price rebound. It may be that following the fall certain questions where asked of management and they ended up bringing forward the bad news. On balance it doesn't look very positive unless we get another announcement on Monday.|
|arf dysg: If you want to get to the finance director, try hiring Russell Brand to leave one of his special messages on the FD's answerphone.
The word nobody's yet mentioned is "dilution". If this comes back it could be by issuing lots of shares, with a serious risk of diluting existing shareholders out of site. It could come back but with a share price of a tenth of a penny or something ridiculous like that. Alternatively, they could do what Eurotunnel did, a debt-for-equity swap, which means the bank will own shares amounting to 99% of the company. Either way, existing shareholders could end up with next to nothing.|
|topinfo: Cyber you are really thick matey. I cannot damage or increase the share price either as its supended. You my friend are so jealous coz you never bought today and you know its going to relist a hell of a lot higher than it was when supended. You are a deramper and you my friend do more damage than rampers. You should never ever listen to anyone else when buying shares and if you do they can in no way be held responsible for your actions. I had this brought to my attantion today and I took my own decision to buy. If I lose I dont blame anyone, the same as if I win I take all the credit too. I bid you farewell and see you bright and early Monday.|
"An open letter to the Shareholders of Appian Technology Plc from the original owners of Genesis (UK) Limited. 6th August 2008."
We are contacting you as fellow shareholders in Appian Technology Plc to advise you of some concerns we have regarding irregularities of information that has been provided to shareholders and the City by the Board of Appian.
We are sure that, like us, you have some serious concerns regarding the running of Appian by the current Board. The company has been run without a CFO on the board since March and the Commercial Director, Tom Keene, has also now resigned and left although this was not announced to the market prior to him leaving the company.
Questions should perhaps be asked as to why the only remaining executive member of the original board is the Chairman and to whether this should be linked to the high turnover of staff generally within the company, which is believed to be one of the highest in the industry.
In regard to specific issues relating to Genesis, in the final accounts for 2007, the Board stated that no further monies were due to the shareholders in Genesis for the Earn-Out agreement. It is our assertion that this is in fact incorrect. That statement was issued during a negotiation period that is clearly stated in the Share Purchase Agreement contract between the parties that negotiation process is not yet concluded.
The Board further stated in the Final Accounts for 2007 that Genesis had not achieved the targets set. This is disputed by the former owners of Genesis.
It is our assertion that the board of Appian deliberately manipulated the figures for the last financial year with regard to the earning of Genesis and provisions relating to Genesis in order to artificially reduce the amount of the Earn Out due.
The making of statements in the final accounts for 2007 that could mislead the shareholders was part of the nature of the first investigation launched by the AIM Regulator into the running of the company. The outcome of this first investigation has not been published.
It should be noted that the Board of Appian appears to wish to discredit the former owners of Genesis. For example: at the AGM stating that the reason for the share price dropping over the previous 6 months was down to the dumping of large volumes of shares onto the market by the former owners of Genesis. This was incorrect. The vast majority of all these shares were still in our possession at the time of the AGM. We also remain shareholders in this company.
We have never sought to damage Appian or its prospects. Indeed, as we are pursuing Appian for monies we believe are owed to us therefore it would make little sense for us to damage the ability of the company to pay us what is due. To that end we have refrained from responding to the comments made at the AGM and kept to the letter of the Share Purchase Agreement at all times.
In order to better assess our case we have engaged the services of PricewaterhouseCoopers in regard to the dispute over the Earn Out calculation and have engaged DLA Piper in regard to the wider legal implications of the actions of the Board.
We have invited the Board to meet with us to discuss the matters in question to avoid unnecessary legal and accounting costs but have so far been disappointed with the level of intransigence shown to date.
Accordingly, it is our intention to pursue the matter of the Earn Out calculation through the correct framework laid out in the Share Purchase Agreement and request the appointment of an Independent Accountant to agree the amount due to us. In view of the conduct of the board, we are also left with little choice other than to sue the Board of Appian for breach of contract. It is now our intention to do so.
Should any of you wish to discuss these matters further or receive regular updates on the situation then please feel free to contact us at: email@example.com|
|martin c-j: Al - I don't have time to watch the screen all day at the moment, but should be back to full time trading by the end of the summer. It is really good to see the share price continue back upwards. 7p is the next resistance, but there is no reason it should stop there. 10p is beckoning.
I would not be surprised that a bid would come out of the ether for APN. Pat Ryan seems to be positioning himself for this. It all depends on their ability to maintain margins and actually make a profit. They clearly have a product in demand and at the right time. Their technology would be better marketed by a larger technology company with a global sales force. And remember PIPS Technology sold for $110 million. An offer of $50million for APN equates to a share price of 13.5p.|
Appian share price data is direct from the London Stock Exchange