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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Debts.Co | DETS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 22.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 22.50 |
| Top Posts |
|---|
Posted at 15/5/2008 12:39 by currypasty RNS Number : 4903UDebts.co.uk PLC 15 May 2008 For release at 07.00 Thursday May 15th 2008 Debts.co.uk plc ("Debts" or "the Company") Appointment of non executive director The Board of Debts is pleased to announce the appointment of Christopher Steele as a non executive director with effect from May 14th 2008. Christopher is aged 57. He spent some 20 years as a stockbroker, as a partner with Kitcat & Aitken and then with County NatWest Wood Mackenzie before becoming a director of the Manchester Exchange Bank responsible principally for the fund management division and for group compliance. He was also non executive chairman of Nikko Fraser Green Asset Management. Latterly he founded City Insights, an investor relations consultancy and then worked in financial PR and corporate communications. CEO Paul Carter said "We are delighted to have the benefit of Chris's extensive analytical and M&A experience as we pursue our objective of actively seeking acquisition opportunities during the industry's ongoing consolidation." |
Posted at 09/5/2008 11:13 by alexacj Morning Line: Investors fret over fragile economy as record numbers lose their homes |
Posted at 09/1/2008 08:57 by naeclue Positive write up in Investors Chronicle:Now we really are doomed! |
Posted at 09/10/2007 10:16 by apeksa That the TFN report's tone indicates that this morning's price movement is unwarrented given the Final Results, and is more a factor of sentiment and pressure on investors, and even that rightfully the 7.5p belongs on the s.p. |
Posted at 13/9/2007 10:10 by jtcod It's all been positive news. Unfortunately we have a very thin market and some investors are just scared of their own shadow. I don't see what more the management can do really.Most investors are like sheep. When it moves the other way they will buy rather than be the first one in.;- |
Posted at 24/8/2007 22:32 by diogenesj 7Kiwi: I did not mean to upset you, merely to say that this is a fairly high risk situation. The full story and the reasons why are amply recorded on this thread and those of similar companies such as DEBT, ACG and DFD. If you know nothing about the company or the industry and have not read any of the thread you are taking a leap in the dark. If ADVFN is running true to form, advice from current holders will be uniformly bullish and will not give you the full picture. They may be right, of course (I'm wondering whether it is time to buy back in myself) - but unless you have money to burn I would recommend you to look properly into the background before buying. Naturally I am not giving you any advice (except to do some research). Diogenes was a leading light of the Cynic school of philosopy. A touch of cynicism, and a willingness to look gift horses in the mouth, are necessary virtues for an AIM investor. Apologies if that sounds too patronising. |
Posted at 25/5/2007 07:46 by currypasty The Board of Debts.co.uk, (DETS.L), the specialist advisors for personal debtsolution management, are pleased to announce that the Company has conditionally raised #1.63 million before expenses by way of a placing (the "Placing") of 1,553,571 new ordinary shares (the "Placing Shares") at 105p per ordinary share (the "Placing Price") and yesterday entered into a conditional agreement (the "Acquisition Agreement") for the acquisition of the entire issued share capital of Adie Financial Solutions Limited ("AFSL" or "Adie Financial Solutions"), a Scottish debt solution company, (the "Acquisition"), for a consideration of #400,000 in cash payable on completion together with the issue to the vendors of an aggregate of 95,238 ordinary shares (the "Consideration Shares"), credited as fully paid, in the capital of Debts.co.uk, to be issued at completion of the Acquisition. The net proceeds of the placing will be used in part to fund the cash portion of the consideration for the Acquisition and to provide additional working capital for the Company and its subsidiaries (the "Group"). Seymour Pierce, as agent for the Company, has conditionally placed the Placing Shares at the Placing Price with institutional and other investors. Completion of the Placing is conditional upon the conditions to completion of the Acquisition Agreement being satisfied or waived in accordance with the terms of the Acquisition Agreement, the acquisition agreement having completed in escrow and the Placing Shares being admitted to trading on AIM. The Acquisition Agreement was completed in escrow yesterday. The Placing Shares and the Consideration Shares will, when issued and fully paid, rank pari passu in all respects with the existing issued ordinary shares of the Company. An application has been made for the admission of the Placing Shares to AIM and trading in the Placing Shares is expected to commence on 31 May 2007. Upon admission of the Placing Shares ("Admission"), the Company will have 20,998,015 ordinary shares in issue. Final completion of the Acquisition ("Completion") is expected to occur shortly after Admission and application for admission of the Consideration Shares to AIM will occur shortly after Completion. Upon admission of the Consideration Shares to AIM the Company will have 21,093,253 ordinary shares in issue. AFSL is based in Aberdeen with some 18 employees, including one Insolvency Practitioner and is in negotiation to engage a second Insolvency Practitioner. AFSL offers a range of services to both individual and corporate clients including Trust Deeds (the Scottish equivalent of an IVA) and Company Voluntary Arrangements. In the year to 31 December 2006, AFSL had sales of #872,623 and EBITDA of #234,212. Based on the unaudited balance sheet of AFSL as at 31 December 2006, the net assets acquired as part of the acquisition were #408,987. Commenting on the acquisition, Paul Carter, Chief Executive Officer of Debts.co.uk said: "This is an exciting stage in the development of Debts.co.uk; we are delighted to have raised the new monies which will facilitate the acquisition of Adie Financial Solutions. I believe that the acquisition of AFSL will help us to further build upon the expansion of the Group following the acquisition of Neville Eckley & Co last October and will provide a great opportunity for the Group to develop a presence in Scotland through AFSL's established client base." Alan Adie, director of AFSL commented "This is a significant step forward for Adie Financial Solutions in terms of enabling us to increase our market presence and the level of service we can provide to our clients." |
Posted at 26/3/2007 11:23 by twentyoneeleven Yes, JB, completely agree! I wasn't suggesting that "I" am cautious following the recent drop, but that many investors in this sector may have had their fingers burnt recently and with current news headlines about creditors wanting more money back per IVA, there may still be some wariness to buy in. IMO though, with the ever increasing debt problem in the UK and results like these being reported by Debts.co.uk, there's still a long way to go for these companies and I'd expect to be back to previous highs within months rather than years! |
Posted at 29/1/2007 16:54 by analyst Shares in several debt management companies have slumped after two of them issued profit warnings on Friday. The companies specialise in arranging individual voluntary arrangements (IVAs), a form of insolvency. Debt Free Direct and Accuma admitted that some creditors were now refusing to agree some of the IVA proposals proposed on behalf of their debtors. Shares in Debt Free Direct were down a third, while those in Accuma were down by about 20%. Shares in Debtmatters were about 30% lower while those of Debts.co.uk fell more than 9%. An IVA is an alternative to bankruptcy, under which people come to an agreement with their creditors, typically banks and other lenders, to have some of their debts written off and repay the rest over a number of years. A few months ago the IVA business seemed to be a growing market. Debts.co.uk, for instance, told investors last October that business was booming and it expected soon to be processing 500 IVAs a month, earning a large commission on each one. However, if creditors decide to adopt a harsher attitude, for instance by pressing for bankruptcy or demanding that IVA firms cut their own fees, then the business model underlying these companies could be damaged. Debt Free Direct blamed its short-term gloom on increased advertising by its rivals and what it called "creditor posturing" for a slowdown in the growth rate of new IVAs. Accuma warned of a lower-than-expected level of new business, blaming "increased resistance amongst a small minority of creditors which is impacting IVA approval rates". Both Debtmatters and Debts.co.uk said that despite the increased competition and the experience of their rivals they were confident their businesses had a robust future. The last couple of years have seen a sudden growth in businesses offering IVAs as a way for people to escape their debts. Widely advertised on daytime TV and in the press, they have encountered considerable criticism from various quarters. Earlier this month, the Office of Fair Trading (OFT) wrote to 17 IVA companies telling them to stop publishing false claims in their adverts, for instance by suggesting that people could write off up to 90% of their debts through an IVA. Debt counselling charities have suggested that some people have had IVAs arranged for them when it has not been appropriate - for instance, if people have too little continuing income to make any reasonable repayment of their debts. And in the past year several banks have become vocal critics of the apparent ease with which some debtors can escape part of their debts by putting forward an IVA proposal. Their increasing popularity has led to the UK's High Street banks writing off several billion pounds of bad debts between them, often built up on credit and bank loans. However, the authorities have pointed out that an IVA is a voluntary agreement and that no lender is compelled to agree one. |
Posted at 20/12/2006 10:13 by nobel2005 I think their investor relations are appalling but do see some upside. |
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