Bns Telecom Share Discussion Threads

[2lb] 02/2/2009 10:26

Yep, a whole £3k!

[martin44] 02/2/2009 10:22

Good to see the FD investing within his company, can only be positive and that is what is needed for BNS some positive news!

[dabberman] 30/1/2009 12:27

Results look quite good, hence the rise in the share price. Using the leasing company to generate the cash and tying people into long contracts looks like a good tactic by the company and clearly legal. Looks like the only cloud is the loan may not be repaid on time which suggests that Moat may not be able to repay it on time due to the lack of liquidity in the property market. But the company and products look to be finally heading in the right direction. Could be a good time to buy these shares.

[2lb] 30/1/2009 10:54

During the year a loan was advanced to Mr Garry Moat, the Group's Chief
Executive. A loan agreement was subsequently formalised and ratified by
shareholders that requires repayment of the loan by 24 July 2009. At 31 July
2008 the balance outstanding on this loan was GBP797,000, which includes
interest of GBP21,000 charged at 0.3% greater than the Group's cost of
borrowing.
The Board of Directors have considered the recoverability of the loan and in
doing so have considered the financial assets, liabilities and cash flows of the
debtor concerned. The Directors have concluded that the full balance of the loan
will be recoverable, although in light of the illiquidity of current property
and debt markets, it is recognised that there are uncertainties over the timing
and method of repayment. The Directors are satisfied that there are a number of
viable options available to Mr Garry Moat to source the funding necessary to
repay the debt but that this may well not now occur before the end of July 2009.
Accordingly, the Directors have reclassified the debtor as non-current, although
the terms of the debt and due date of repayment remain unaltered.

[yikyak] 29/1/2009 19:14

Management (Bhati) screwed the shareholders completely.

[commsman] 29/1/2009 18:51

results out.......................

interesting reading

[geordieduke2] 28/1/2009 20:24

Nicely put 2LB. Every time you read that RNS about the "loan" it looks more like a smash and grab to divert cash to the property business. You have to feel sorry for the other shareholders with a crook like that at the helm. If the share price drops another 1.5p and factor in the "loan" then they would appear to be insolvent. Course as the loan is unsecured the CEO has at least got £800k out of the company. If it got to that stage and the payback deadline was passed would the Plc then try and recover the debt from their own CEO? No doubt he'll just declare himself bankrupt, ruin a load of lives and simply start up again.

[2lb] 27/1/2009 13:11

BNS paid £4.76m IN CASH less than two years ago for a single acquiston. Before that is paid in excess of £1m for other acquistions.

The MCAP is now £2.5m - less than half the money spent buying other businesses before even looking at the core business that floated in its own right.

Year end was almost 6 months ago and yet not even a sniff of a results notification, never mind the results themselves.

Add to that the very whiffy £800k CEO loan and and the speculation regarding the alledged legailty or otherwise of their sales offerings and commercial contracts and yout get something very special indeed - they are a credit to the AIM market, the safest haven in the world for white collar criminals.

[geordieduke2] 27/1/2009 11:01

There will be no redress if the company fails to exist. Down another 10%. No trading update. At least the CEO has got £800k safe in his hands.

[rebess3] 20/1/2009 17:36

Whatever the rights and wrongs, BNS has contractual obligation to all of it's customers.

It can either deliver on these obligations or fail to meet them.

If it fails, then its customers will have the right, through law, to seek redress.

That's it!

[geordieduke2] 19/1/2009 21:27

This allegation has been dragging around for ages. I would have thought if it was illegal then something would have been done about it by now. If it's against the law then why hasn't someone (e.g. a wronged customer) called the police?

Not sticking up for them, just wondering why no one has done anything. Perhaps it is legal and good business practice?

That said, I can't see how anyone can have respect for Moat. Despite the carnage in the markets, the telecoms business has done better than other sectors. There has been typically a 40% drop in telecoms shares values, but compared to property, mining, banking et al telecoms as an industry has done better relatively speaking.

That is except for BNS who have done much much worse, with over an 80% drop in value during last year. Bearing in mind they have also sold their building and given the CEO a loan without prior permission of shareholders and without the knowledge of their NOMAD. So whilst the value of the company is crashing an unsecured loan is made to their CEO for £800,000. The CEO has a couple of hundred houses that he rents out. Property market crashing, CEO takes £800k from BNS without prior approval, only to force it through after the event, when there was nothing anyone could do about it as the loan is unsecured. It stinks!

This guy drives round in his Bentley jacking off on his own ego, lording around his property empire, but now the chickens are coming home to roost.

[tarzan003] 14/1/2009 18:23

there is mega problems ahead for this company, they have been leasing out telephone calls and lines which is totally against the law, the leasing companys are now getting wise to this and stopping this from happening, which in return is gonna mean that they cannot turn over the same amount of money, well honestly anyway, I have respect for mr moat in what he has done, its his second attempt or third and its worked this time for him he cannot honestly say its been an honest buck made but its a buck all the same, I dont agree with the way the company damages small companys, or the way the company treats its sales force but if rich people buy shares to get richer then your just another pawn in Mr Moats game and you have been stuffed big style, look at the share price when it started circa 64p now its 4p you need to start being honest with yourselfs and realise in the words of michael jackson " you been hit by you been struck by a smooth criminal"

[dabberman] 14/1/2009 18:07

Yeah but Moat still has £800k to give back to the company. And last RNS indicates thy don't need any cash as revenue is the highest it's ever been, this is a cash company and they are tying people in to 7 year contracts whereby BNS gets all it's cash upfronr and it's the leasing company taking the risk, so with a great business model like that, plus money in the bank with the CEO and a clever, astute, wealthy and dynamic CEO at the helm there should be no problems.

[commsman] 13/1/2009 15:59

all i will say is that if you credit check the company....... there credit limit is £0..... they have not submitted there accounts and credit rating/limits etc have all been frozen

[geordieduke2] 07/1/2009 15:53

With the loan being unsecured it might be the best move Moat made - at least he will have got away with £800k that he doesn't have to pay back. Would be a bit of a mess though - BNS going after it's own CEO. I wonder what the other big shareholders think of it, the company going down the pan, big share price falls every time someone sells and the CEO has plundered 800k to prop up his property business. The way the property market is going you wouldn't bet against Moat defaulting. Although he has probably been very clever as 650k of the loan was to Moat himself and only £120k to MPL, so it's not like anyone could go after all the properties in MPL and would have to go after Moat himself. No doubt his palacial house will be safe. Check it out on Google Earth, very nice! Not too nice for BNS shareholders though! Moat's debt is now equivalent to 32% of the market cap of the company.

GARRY G MOAT
THORNLEY VILLA
THORNLEY GATE
HEXHAM
NORTHD NE47 9NG

I wonder why there was quite a big dump of shares....is their delayed trading update not looking to good maybe?

[laffy] 01/1/2009 14:13

Told you lot a while ago this was a dog and it looks like the world is waking up to it at last.

[commsman] 21/10/2008 20:59

i have to laugh at the goings on BARRY IS THE BROTHER OF GARY MOAT HE HAD A CARAVAN BUSINESS THAT RECENTLY WENT TXXS UP !!!

how can a plc company tell blatant lies????? not related......

who are directors of ""UK TELECOMS LIMITED"" have a look ???

oh this company make me sick............



10 October 2008

BNS Telecom Group plc

Board changes

BNS Telecom Group plc ("BNS" or the "Group"), a leading IP telecoms services provider and
carrier, announces that Barry Moat, one of the
non executive directors and no relation to the Chief Executive Garry Moat, has been appointed
non executive Chairman with immediate effect,
following the resignation of Graham Wilson.

[geordieduke2] 18/10/2008 12:29

Big sell of this stock last week at just 3p with a couple of very small buys to bring it back up to maybe an artificially higher level. Perhaps the sells show the true worth of this company. Could have been their dodgy chairman dumping his shares after he resigned recently. Looks like Moat Properties is a buy-to-let company so maybe Moat needed the £800k to shore that up, but the way the property market is going it's hard to see that BNS will get their money back next summer when it is supposed to be repaid. Not only has taken a massive chunk of valuable working capital out of the company (equivalent to 25% of the market cap at the level at which shares were sold at last week), but it was also an unsecured loan, so BNS is not indemnified against any non-payment. To plunder such a large amount of working capital at a time when companies need it seems to imply that Moat has already given up on BNS and is simply plundering spare cash to prop up his buy-to-let empire. What chances are there of him paying back an unsecured loan to what appears to be an ailing and failing company like BNS? As this is a publicly listed company potential investors should get some protection from the irresponsible behaviour of directors. However we have seen what the FSA do in terms of ensuring corporate governance, so even if he doesn't pay it back they probably won't do anything and BNS won't be able to do anything because the loan is unsecured. It says something when the company gets shafted by it's own CEO.

[dabberman] 06/10/2008 11:50

So does this mean you are actually going to do something, or already have? There was a poster on III that was having them investigated by CIB because of the loan that was approved after it was made, which apparently was against the law. but then his posts were deleted. If things weren't bad enough though, I would guess the £800k that BNS "invested" in Moat's property business was not money well spent, but with Moat having such a large stake I would guess there is noting other shareholders can do about it, and the ineptness of the FSA is all around us, so they won't do anything to protect shareholders either. Commsman, I urge you to do something - the more people that report any irregularities to the authorities, you never know they might just do something, especially if they have learnt anything from the current situation and how white-collar criminals seem to get away with it time and time again.

[commsman] 04/10/2008 15:31

you dont know half of it... trust me

[dabberman] 04/10/2008 14:29

Commsman, If you have proof then better doing something about it than moaning on BB's which will do nothing. There's the FSA, Ofcom, Companies House, Companies Investigation Branch.

[rebess] 03/10/2008 12:15

commsman

The proof you hold - emails, literature, recorded calls etc., sounds as though your'e building a case against BNS.

If you are, be careful, play your cards close. Don't reveal your hand on bulletin boards such as this.

In all events - Good Luck.