Evchrgingaccgbx Discussion Threads

[tinker tailor] 30/8/2007 19:47

8.75M is very significant.

[relishing] 30/8/2007 17:36

Thanks uncle john.

Good to know that CE clients are paying the same price as those buying in the market now. Should remove fears of an overhang at these levels.

[uncle john] 30/8/2007 17:34

To answer the curious, I paid 1.5 this lunchtime. CE had quoted the price this morning. I have had several good deals from CE that I probably wouldn't have bought otherwise. PANR, EME. Regency mines was x3. RRR. EMED.

I have hopes of this one giving a nice profit in the autumn before December results or Trading statement.
Previously I have had good profits from Hitachi Capital, London Scottish bank &
PCF (which I sold too soon). This can be a good and profitable sector, if carefully run. It takes no intellectual geniuses, Just people taking care to do simple things diligently.
Regards to all Uncle John

[knowing] 30/8/2007 15:46

Volume is picking up nicely.

[knowing] 30/8/2007 14:02

grlz I suggest you look at RRR when CE took a stake at around 3p it then doubled so not always bad.

[relishing] 30/8/2007 14:02

Not according to todays trading update grlz. Some providers may have withdrawn products (do you have a reference for this?) but the company is involved in a record number of deals etc.

CE punters will not usually dump quickly unless they are in profit, as they will have been given a bullish picture. This is why I asked what price CE sold them to their punters at. They bought them for 1p so I wouldn't have thought it would be any less than 1.25p-1.5p.

Looks an interesting turnaround stock imo. Look at GAR to see what can happen in a short space of time with a similar situation.

[grlz] 30/8/2007 13:55

the company has significant exposure, a number of providers have withdrawn products (DB, infinity etc) if this continues this type of store front sales channel will be very expensive to maintain - plus there is still an overhang as City will no doubt dump their remaining 3% and I can't see the clients pitched this stock holding long when all it does is sink with any gains (like today) rubbed out by the spread.

DYOR

[relishing] 30/8/2007 13:51

Looks good. Only slight concern is recent equity placing with CE. Anyone know what price they flogged them on for?

[double6] 30/8/2007 13:38

"Bears no credit risk" ....

... should ease away any market fears caused over the last few weeks.

[knowing] 30/8/2007 13:37

Thats pretty positive!!

[tinker tailor] 30/8/2007 13:29

Super update

LONDON (Thomson Financial) - Elephant Loans & Mortgages PLC said it has seen
record sales for June and July despite a slow start to the current year to March
31, 2008 and added that the business is growing strongly.
The sales distribution channel for specialist lenders said it had packaged
63 transactions in July and 70 in June, adding that over these two months, the
average commission income per deal had increased to 5,500 stg from 5,200 stg.
"Currently, the company has over 134 live cases in the completion pipeline,
which represents another record," Elephant Loans said.

[double6] 30/8/2007 13:23

Elephant Loans & Mort Record Performance

RNS Number:0122D
Elephant Loans & Mortgages PLC
30 August 2007

ELEPHANT LOANS & MORTGAGES PLC
("Elephant Loans" or "the Company")

Announces Record Performance in June and July

Elephant Loans, the sales distribution channel for specialist lenders, is
pleased to announce that, following a slow start to the current financial year
ending 31 March 2008, it has seen record sales for June and July. In addition,
both the number of transactions and the value of the total of advances have
risen to record levels. Currently, the Company has over 134 live cases in the
completion pipeline, which represents another record.

During the last financial year, to 31 March 2007, an average of 47 loan or
mortgage product transactions per month were packaged on behalf of lenders. By
comparison, over the past two months, the Company packaged 63 transactions in
July and 70 transactions in June. Over these two months, the average commission
income per deal increased from #5,200 to #5,500.

Elephant Loans' success is testimony to its unrivalled business model of a
national branch network, which enables its registered mortgage advisers and
secured loan sales executives to meet potential customers on a face-to-face
basis.

It should be noted that Elephant Loans acts only as a sales distribution channel
for lenders and insolvency practitioners and that it bears no credit risk on the
specialist financial solutions provided to customers, as the debts rest on the
balance sheet of the lenders.


Commenting, Gary Miller-Cheevers, CEO, said,

"I am delighted to report extremely positive trading news for June and July. The
business is growing strongly. What makes Elephant Loans especially effective as
a sales distribution channel for lenders is our national branch network. It
means that we can offer a personalised service when advising potential customers
on possible financial solutions."

[grlz] 28/8/2007 13:53

glug, glug, glug.

[grlz] 17/8/2007 10:58

it ain't usually good when the FD resigns

[wiganer] 02/8/2007 10:37

p.s. I'm never encouraged by an FD resignation...

[wiganer] 02/8/2007 10:37

I also have shares in ACG, bought a couple of days ago.

A risky bet, but positively blue-chip compared to ELEP.

[ihavenoclue] 01/8/2007 22:10

Wiganer ... read this ...

Elephant Loans & Mortgages - BUY
Companies: ELEP
24/07/2007

Lady luck has yet to smile on micro-cap counter Elephant, which finds itself with a shrunken valuation despite delivering on promises since joining AIM in late 2005. Panic in the IVA sector shortly after the launch of its own start-up business and inaccurate association with US sub-prime woes have conspired to hammer the price. However, the market may be missing a trick.

Elephant packages loans for specialist lenders like GE Capital and Money Partners, advising 'specialist' borrowers overlooked by high street lenders on appropriate debt solutions, completing applications and passing pre-completion packs to lenders for approval. Personal visits from advisers through a regional branch network ensures superior screening and credit quality, while it is vital to note Elephant itself bears no credit risk, since debt sits on lender balance sheets.

Results to March reflected the launch costs of IVA business DebtSmashers as well as investment in the core loans and mortgages business, with losses of £1.2m reported on £2.95m sales. However, the core Elephant arm delivered a 140% surge in pre-tax profits to £300,000 and DebtSmashers, which has signed an important partnership with Grant Thornton that will ensure high IVA conversion rates, should soon break even.

Looking ahead, affinity partner relationships with accountants and debt recovery agencies should continue to prove a highly successful sales generation route. 'We're experiencing sales at the moment like we've never seen before,' insists chief executive Gary Miller-Cheevers, keen to sign up major new affinity partners shortly.

Overall, with recent rate rises sure to add to the UK debt burden, further growth assured and the Peter Webb-managed Eaglet Investment Trust having recently taken a 4.2% position, Elephant's shares have strong recovery appeal.

=====================================================

I have no position in ELEP but have shares in ACG which are also quite heavily dependant on IVA growth.

[wiganer] 21/7/2007 13:02

Interesting.

[flyinghog] 20/7/2007 16:22

Eaglet have apparently

[wiganer] 20/7/2007 12:47

The chart and the past results.

I have no "inside" info and no position at present on ELEP.

[flyinghog] 20/7/2007 07:24

The volume and value of trades is minimal - one buyer or seller will move the market. The sub-prime market news from the USA makes everyone nervous even tho ELEP takes NO LOANS and has no credit risk.

Wiganer have you any "inside" information is is it just the chart?

[wiganer] 19/7/2007 09:41

Starting to look ominous.