Assetco Share Discussion Threads

[treacle32] 09/9/2011 13:58

Fair play to those who called it right.

[jockblue] 09/9/2011 13:52

RorryS. You know you're right, 99% of the people who've read your posts knew you were right and I'm really not sure who does get suckered into buying shares by talk on these boards. Anyone who does deserves everything they get for not researching properly. Treacle and others really are only talking to themselves and hoping to ensnare a good argument.

Best leave it now in the moral ascendency:-)

As for the announcement.....
1) Not suprised as to the dilution, had written any hope of a solution a long time ago.
2) Somewhat annoyed to find the pref shares being allocated at 1000x what we were told they were worth last time.
3) Annoyed that we were not told that the London contract's financing was so out of kilter with it's income as to be in need of more funding. We were led to believe that the payment of dividends and investment in the UAE had led to the cash shortfall, not that the contrat was fatally flawed on its own.

i've looked at old posts I made on TMF about Asfare - I should have bottled out when they were taken over....

[rorrys] 09/9/2011 13:48

Greedfear , your last post says all there needs to be said about you.
I strongly urge you to give up the investing game .
You are clearly in complete ignorance of the entire machinations of the market.

[rorrys] 09/9/2011 13:45

In fact I called it bang on the nail with my prediction of events.
Well done Rorry!!!!! :)............well nobody else is .

RorryS - 1 Sep'11 - 14:52 - 1996 of 2070 edit


I will leave you to work it out .
But think on this one very important point ,very important and pertinent.
The market rarely gets it wrong.
Many many financial analysts have gone over this co with a fine toothcomb recently.
People who understand a balance sheet.
If for one second the markets thought there would be a miraculous placing at 10p and all would be well then the share price would be sitting at circa 9p and it would have done so in a micro second.
If a consolidated placing takes place at 10p then it will value your 2p shares at a fraction of a penny poss as low as .0020
I can absolutely guarantee you that your 2p shares will be worth much less after any successful placing.
There of course remains the fact that they may not get the agreements they need and it will go into recivership
At this moment in time the company is insolvent and my only surprise is that the shares have not been suspended pending clarification of their position.
That could happen yet by the way.

[greedfear] 09/9/2011 13:44

Why apoligize? You saw things differently and was right. It prevented you from losing money. I've lost money (a lot) because of my ideas. That's enough, can't think of any reason to apologize to you.

[rorrys] 09/9/2011 13:40

Oh dear Oh dear you seem to have gone all quiet Treacle ????????
Lets be honest here I couldnt give a tuppenny toss as to how much you lost I hope in fact that it was a significant amount it will teach you a very valuable lesson in life.
There is no such thing as a free lunch.
I do however feel sorry for the poor easily led sods that you suckered into this dog with all your ramping rhetoric and promises of easy money.
I take it you will do the right thing and refund them their losses out of your own pocket ?

[rorrys] 09/9/2011 13:32

I,ll be around when you decide to start apologising guys .

[rorrys] 09/9/2011 13:30

Treacle32 - 31 Aug'11 - 21:19 - 1985 of 2067


The preference shareholders could get 10p i.e. 25% of 15 million owed via 3.75 million shares = near 4 million pounds. Also, as a creditor around 23% of what is owed in line with others. They would never accept less than around 4 million pounds imo. Simulatenously, I think the 12 million will be raised at the same price of 10p.

At 2p the preference shareholders would get less than 1 million pounds back from their 15 million investment. I don't think so.

RorryS - 31 Aug'11 - 21:39 - 1986 of 2067 edit


Idiot


greedfear - 1 Sep'11 - 14:29 - 1991 of 2067


We're going to have a good laugh within a week treacle!

This is as close as you can get to "stealing" money the legal way.

RorryS - 1 Sep'11 - 15:06 - 1998 of 2067 edit


If the recovery package is to work it includes a very dilutive placing .
How do I know that ?
Well AssetCo told me ,they told you as well by the way.

greedfear - 1 Sep'11 - 15:22 - 1999 of 2067


Well, I know balance sheets as well and I can count.



RorryS - 1 Sep'11 - 15:27 - 2001 of 2067 edit


Oh dear oh dear............as you wish but you are in for a very cold hard reality check and soon.
You are completely wrong in your understanding of such matters.
Your fantastical dreams of instant riches are not going to happen please trust me on that one.

[greedfear] 09/9/2011 13:20

Around 2% of the business will remain for current shareholders if this goes through.

I've seen dilutions before, but this beats everything!

[greedfear] 09/9/2011 13:17

Am going to vote against. Prefer to lose it all (not sure). If this goes trough calculating with 1.7p I've lost a further 88% anyway.

Prepared to take the other 12% loss as well.

[effortless cool] 09/9/2011 13:13

Also note what they didn't tell you in the last announcement - the preference shares are being exchanged for 3.75m of the new shares, i.e. 3.75bn of the old ones.

With the preference share conversion, the placing shares and the warrants, existing shareholders are being left with only a small slice of the business and, probably, a much lower share price (adjusted for consolidation).

[treacle32] 09/9/2011 13:09

Not good. Divide what you own in shares by 1000. Multiply then by 200p. Left with pittance of holding. Would have to get to around 1500p to get the same equivalent of around 1.70p.

[effortless cool] 09/9/2011 13:06

Oh dear, placing is at 0.2p equivalent and comes with piles of warrants.

Change of year-end is clearly a tactic to force suspension. Now shareholders are trapped and have to support the placing in order to ever get a chance to exit.

Don't say you weren't warned.

[rcf4711] 09/9/2011 13:03

with the RNS release, does this mean we have to accept the propesed offer at some point (say through Selftrade), which will dilute our shares held?

[treacle32] 09/9/2011 11:07

Few buys on PLUS again this morning:-

[treacle32] 09/9/2011 10:07

1.6-1.9p, sellers still getting big premium and 1.71p. Good sign. Discount on buying despite the spread is only 0.04p. Good sign again.

[treacle32] 08/9/2011 20:51

greedfear - filtered.

Should have the RNS tomorrow as more than 7 days now. IMO expecting big rises again soon. DYOR.

[greedfear] 08/9/2011 16:37

okay boys, show us the rip-off rns!