||EPS - Basic
||Market Cap (m)
Real-Time news about Astaire Grp (London Stock Exchange): 0 recent articles
|natsbite: Anyone with any views on the prospects for the Evolve share price? Unfortunately, I am in at 3.5 p.|
|tomboyb: Should read this - I'm not impressed and i HOPE History will not reapeat itself.
Izodia has been investigated by Serious Fraud Office after £34 million went missing in 2002. Both Vandyk and Chris Roberts(pictured below) joined the board of Izodia that year after building up stakes in the company when Izodia's share price plummeted from the highs of around £14.50 to less than £1. Institutional shareholders (who made 70% of the share register) wanted the company wound up but others, such as Vandyk and Roberts, saw an opportunity.|
Astaire considers its future after another loss
28 June 2011 | 11:27am
StockMarketWire.com - The loss after tax at Astaire Group for the year ended December 31 2010 from all operations was £7.7m., compared with a loss of £7.3m. in 2009.
The loss after tax from continuing operations increased from £0.45m. in 2009 to £2.9m. in 2010.
Following the sale or commitment to sell all of the operating businesses and subsequent reclassification of the income and related expenses as "discontinued operations" the Board has concluded that the use of underlying result before tax as the comparative measure and indicator of performance is no longer appropriate and has therefore ceased to use it. On this basis there is no analysis of trading performance other than the result before tax.
The company accepts that this was a very poor year for Asaitre.
As a result loss of confidence by clients and staff in the operating businesses, the Board concluded that it had to end the previous strategy of pursuing consolidation in the financial services industry and, instead, focus on disposing of the operational businesses of the Group.
The company has now disposed of Astaire Securities, Downgate Capital Stockbrokers and Rowan Dartington.
This means that Astaire Group no longer has any operating businesses and only has one employee, Chris Roberts, the finance director.
Following the disposal of Rowan Dartington, the Group is now defined as an investment company under the AIM Rules for Companies. Its policy is to seek to return any available excess cash to shareholders, including any deferred consideration under the terms of the disposal of Rowan Dartington.
As announced last week, the Board was recently informed that Evolve, the Company's majority shareholder, may hold the view that Astaire should become a more active investing company and that it may wish to appoint individuals to the Board to implement such a strategy.
It says that were such a strategy to be implemented it would mean that rather than seeking approval for returning any excess cash to shareholders, as previously proposed, the company would instead be seeking to invest the cash that it currently holds, and any amounts realised from its present investments, into as yet unspecified investment opportunities with a view to increasing the value of the company's assets for the ultimate benefit of all of its shareholders.
At 11:27am: (LON:ASTR) share price was -0.02p at 0.31p|
|tomboyb: Evolve Capital - you may hold 53% of the equity here but your track record and history in creating value for shareholders in terms of investing is Zilch - Zero - Nadda!
You only have to look at your share price to see that!
You simply do NOT know how to do it!
Return excess cash to shareholders where they may be able to get some value out of this debacle.|
|tomboyb: the problem with that Topinfo is that i see a investment at 10p per ASTR share - those guys are terrible investors. How they can concieve becoming investment Gurus after that is beyond me - Return the cash to current shareholders!|
|acquisitor: Oh dear. The share price is telling us this is about to go belly up.|
|acquisitor: I make my judgement about the price not from the news, but what isn't said. If an interested party wanted to buy a stake in the business and thought it was worth today's share price, there is a 50% stake that Evolve is trying to offload. The company has frittered away its cash pile and is danger of running out of regulatory capital if it loses the big lawsuit, or continues to trade poorly, so anyone interested in the company has a strong negotiating hand and will demand a big discount.
Also, if the management of Astaire think the company is good value at a penny, why haven't they filled their boots with shares?? They are either planning to take it private at a huge loss to most shareholders, or waiting for a white knight to steal the company from shareholders. Either way, shareholders will be shafted.|
Astaire Group share price data is direct from the London Stock Exchange