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Gable Hldgs Share Discussion Threads
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This has been a significant year of growth for Gable and follows the formative changes made in the business by our CEO over the last 18 months which are clearly flowing through and evidenced by the excellent performance at every level of the business.
Gable is very well positioned for continued growth with a number of new opportunities available to the Group, expanding its product portfolio and further new country launches in the EU where we are receiving increasing demand for bespoke products in some very substantial markets.
I am delighted to say that the Company enjoys a very positive working relationship with its primary Regulator the FMA and Gable benefits from a very healthy financial position with a robust balance sheet and strengthening reserves and solvency position.
It only leaves me to commend everyone working on the team for their hard work, diligence and enthusiasm over the last year and know that we at Gable look forward to 2014 with confidence.
19 May 2014|
|Indeed saucepan certainly saved me from total wipeout.|
|More importantly, three cheers for Garbetklb whose consistent warnings will at least have steered some people away from disastrous losses here.|
|3 Cheers for Dewsall, hip hip ......|
|Technically, it looks like PWC are going into the insurance company subsidiary, so they won't be writing a letter to the public shareholders. They'll secure enough cash and assets to cover the claims reserves for policyholders, and make sure the bills (including their own), taxes and employees get paid with whatever is left. Shareholders come last, by which time I wouldn't expect any value to remain. And from this morning its a non-listed company, so don't expect to be kept in the loop. You get your AGM and your annual report, anything else is a bonus.|
|That's PWC for you top firm top bills taking advantage that no one cares anymore|
|Wonder how much PWC will suck out first, they'll chuck a small army at it billing at an average of £1,500 a day per person I would imagine.For example:https://www.accountancyage.com/aa/news/1758407/kpmg-pwc-fees-revealed|
|I wouldn't hold my breath Graham.|
|Presumably PWC have to write to shareholders ? This is administration, not bankruptcy. In theory ( I am so naive) there could be some residual value......|
|Except no RNS yet, apart from the AIM cancellation notice......If the insurance Times article is correct, Dewsall does not have the courtesy to let us know......|
|RNS in the morning then.|
Troubled unrated insurer Gable has been put into administration, Insurance Times can reveal. PwC has taken over as the special administrator, meaning it now has total control of the company from the management and the board. PwC stepped in to take control because the risk to policyholders was so high.|
|Times a ticking, another one to the wall!
Dewsall never had the intention to keep the listing.|
|3 days to find a NOMAD...|
|Total con job.
Better to kill it then let it ramble on year after year sucking and conning investors that its viable business, like some other aim shares i know, just being a trading share never an investment.
Perhaps that the silver lining here.|
|That's my point LM.
On one hand Dewsall quotes: "The delisting process form a vital part of the cost cutting measures which were identified but, I am sure, will benefit the ultimate outcome of the Plan."
When that is compared to the following announcement,
On 12 September 2016 our Nomad, Zeus, resigned which has triggered a delisting process and, whilst we continue to explore the possibility of securing a replacement, if a nomad is not appointed by 13 October 2016, the Company's listing on AIM will be cancelled.
It is quite clear it is all smoke and mirrors, Dewsall has no intention of carrying on with the AIM listing let alone appointing a nomad as this would cost money. As you say though, you have to be very choosy with AIM companies as CEO's and the like have seen it a way to make a quick buck being effectively unregulated with the investor's carrying the can.
And yes, I have a few of these that will end up lining the bottom of a draw for years to come! Made money on the climb and lost money on the descent. Hindsight is a wonderful thing and feel sorry for those who have been heavily stung.|
|WiganCasino - aim is effectively unregulated or lightly regulated - as such all professionals concerned know this - so don't care - they just want their fee & move on|
|"Our Chairman and all non-executive directors have stood down from the Board"
Is that newspeak for rats have abandoned a sinking ship?|
|William Dewsall quote, "The delisting process forms a vital part of the cost cutting measures which were identified but, I am sure, will benefit the ultimate outcome of our Plan."
Nomad, No Way! Just getting closer to the wall!!|
|A nomad’s fundamental responsibilities The London Stock Exchange (LSE), which has operated AIM since the launch of the junior market in 1995, has always relied on nomads as its principal tool for maintaining standards on the market. However, it was not until 2007 that the present rules for nomads were issued by the LSE, which laid down more detailed guidelines defining nomads’ responsibilities. A nomad’s basic task is to ensure a company is suitable for AIM and guide it through the IPO process. This encapsulates undertaking appropriate due diligence, overseeing the preparation of the company’s admission document and preparing it for life on a public market, as well as verifying that the directors are appropriate and capable of acting as a board. A company’s nomad must also act as its primary regulator during its time on AIM, keeping abreast of developments at the company and ensuring it understands and continues to abide by the AIM rules. For example, if a new director is appointed to the board, the nomad is expected to ensure that he or she is an appropriate person to act as a director. Thompson of Cantor Fitzgerald discloses that he has been involved in three ‘board overhauls’ over the past year, which included ‘upgrading CEOs and FDs’|
|I have made good progress on this and I am confident that an announcement will be made on this matter very shortly|
|just needs to find new nomads?any comments?|
|Outlook - Strategic Restructuring Plan
-- Excellent progress with the provision of alternative capacity for the group's book of business
-- Considerable progress has ensured that running costs are at minimum sustainable level with a view to creating a lean business available for recapitalisation|
|Article above is about garantees to football club for a total of 20mill euros.They were saying the guarantee will cease if gable pull out of aim,but it shouldn`t be the case.Today interims were better than last year.let`s hope they will relist soon and start again.There is more cash put aside so it will depends on claims.....La società, che ha sede in Liechtenstein ma uffici a Londra, ha garantito ai blucerchiati 12 milioni di euro, 800 mila euro ai pugliesi e 350 mila euro a ciascuna delle società della terza serie italiana per un totale di circa 20 milioni di euro.Serie a team sampdoria guarantee for 12 mill euros,bari`s serie b 800k euros and all third divison`s teams 350k euros each.The case came put when a newspaper highlighted that gable was delisting on 12sept news but is not the case even if delisting guarantee are still valid.|