Venue Solutions Share Discussion Threads

[treacle28] 02/4/2009 19:43

No matter how much the bashers get wound up, only one fact here:-

Excellent find imo. The board rejected an investment at 4p last summer.

2nd DECEMBER UPDATE

Venue has announced the insolvent winding up of VSL. The Board states that VSL was a non-operating company but it has produced most of the revenue ever generated by the Venue Group. With Alton Towers shut for the winter, Venue currently has no source of revenue. Shareholders will be aware that, now it has been ejected from its offices and sacked most of its staff, Venue's major ongoing cost is that of its Board. The announcement of new capital, though welcome, provides only partial information. We believe that the £210,000 subscription may have taken place some time ago and may already have been used to meet existing debts and obligations. The remainder of the investment is not yet firm. If it materialises, it is to be hoped that it will be at or above the value of the investment approaches received by the Board in the Summer. At that time, Mr Iny rejected a proposed investment of 4 pence per share as too low and dilutive. With the share price now moving between 0.5 pence and 1.5 pence, it is to be hoped that the terms he secures will be better and that the Venue Board will make full disclosure of the identity of any new investor and the terms on which such investor makes its investment. It is also to be hoped that the Board of Venue will soon make a clear announcement of its future strategy, long term funding arrangements and management structure.

[gluefactory] 02/4/2009 19:42

The only thing going up,is your money,in smoke Treacle/Smiley. Will look forward to you dropping another few hundred on this one before you move on. Bit like a knacker is Treacle.Cant stay put in one place for more than two days!

[treacle28] 02/4/2009 19:38

dell314 - 2 Apr'09 - 19:37 - 615 of 615 (Filtered)

Evening shift eh....based on my find I have upped my target to 4p now and why not!

[dell314] 02/4/2009 19:37

Treacle - did you read the other piece on the same page? I think you did. It doesn't make very good reading, does it? Shall we share it?



27TH NOVEMBER UPDATE
Venue has confirmed that Venue Solutions Limited is to be put into insolvent liquidation with effect from Friday, 28th November. It has apparently decided that this information does not need to be announced to shareholders or the market more generally. Given that, throughout its life, Venue Solutions Limited has provided most or all of the group's revenue and that Venue now has no source of revenue, at least until the YourDay installation at Alton Towers opens next Spring (and its revenues from this business have been very modest to date) it is difficult to understand how Venue continues in existence. The liabilities of Venue Solutions Limited were very large and it is possible that its major creditors may now pursue Venue Solutions Holdings, (and/or its directors), given that Venue Solutions Limited has continued to incur liabilities since the Summer. This will, at the very least, make new fundraising much more difficult. Given how discredited the management team now is, it is difficult to see them raising significant new funds in any event, particularly in the current economic climate.


Bearing in mind that the writer of this piece shares my view that the interims showed VSH appeared to be going bust, I'd suggest that they aren't in a very strong bargaining position and the finance providers will have the upper hand at this time.
Also with finances like these, directors could easily stiff shareholders and arrange a prepack administration , IMHO.
As I've said earlier, it all depends on the terms and conditions of future placings and convertibles. Shareholders may be lucky or they may be screwed but it doesn't matter to you as we all know you only plan to be here for a day or two just like with RTS. Maybe you should have stayed with RTS a bit longer with 800k of buys going through today. At least it doesn't look like its going bust!

Rgds
dell

All IMHO, DYOR etc.

[treacle28] 02/4/2009 19:35

Investment at 4p rejected by the board....someone out there wanted to put money into the company at 4p in simpler terms. The board want more than 4p!!!

[treacle28] 02/4/2009 19:26

gluefactory - 2 Apr'09 - 19:23 - 612 of 612 (Filtered)

Idiot was trashing the RTS thread, and larger buys followed as expected!

[gluefactory] 02/4/2009 19:23

Silly boys for rejecting an offer many times current share price as another will not "materialise" and your money Treacle will "vaporise"! Could not happen to a nicer person,but sure keep on Smiling Smiley!

[treacle28] 02/4/2009 19:05

The board want above 4p for investment into the company...shows what value they have on the company:-

'If it materialises, it is to be hoped that it will be at or above the value of the investment approaches received by the Board in the Summer'.

[treacle28] 02/4/2009 18:33

Excellent find imo. The board rejected an investment at 4p last summer as too LOW.

2nd DECEMBER UPDATE

Venue has announced the insolvent winding up of VSL. The Board states that VSL was a non-operating company but it has produced most of the revenue ever generated by the Venue Group. With Alton Towers shut for the winter, Venue currently has no source of revenue. Shareholders will be aware that, now it has been ejected from its offices and sacked most of its staff, Venue's major ongoing cost is that of its Board. The announcement of new capital, though welcome, provides only partial information. We believe that the £210,000 subscription may have taken place some time ago and may already have been used to meet existing debts and obligations. The remainder of the investment is not yet firm. If it materialises, it is to be hoped that it will be at or above the value of the investment approaches received by the Board in the Summer. At that time, Mr Iny rejected a proposed investment of 4 pence per share as too low and dilutive. With the share price now moving between 0.5 pence and 1.5 pence, it is to be hoped that the terms he secures will be better and that the Venue Board will make full disclosure of the identity of any new investor and the terms on which such investor makes its investment. It is also to be hoped that the Board of Venue will soon make a clear announcement of its future strategy, long term funding arrangements and management structure.

[treacle28] 02/4/2009 18:26

From last September RNS:-

Stephen Thomson, Chairman, Venue Solutions, commented:

"The completion of the YourDay solution will enable us to exploit fully its
world first video capture system across the extensive range of theme parks and
destination venues everywhere. With over 250 million people visiting theme
parks each year around the world, this presents a huge market opportunity for
the Company, and our successful system will serve as a base from which to
launch our complete service offerings."

[treacle28] 02/4/2009 18:23

Today's RNS:-

'On 19th February 2009 via a share swap arrangement, Nortrust Nominees Limited
transferred 5,534,821 ordinary shares, representing 7.94% of the issued share
capital, to Brookwell Limited. Brookwell Limited is a Guernsey based stock
realisation company'.

Brookwell Limited happy to purchase 5,534,821 or 7.94% of the shares from Notrust Nominess Limited. Has to be good news imo!

[dell314] 02/4/2009 16:31

Level 2 1v3 and you couldn't even sell 50k online towards close.

Are you worried, Treacle?

You'd better invent some good stories this evening....

All the best.

Rgds
dell

[treacle28] 02/4/2009 16:10

Offer price not coming down eh.....be lucky to get a good quantity even at 0.65p in the morning.

[treacle28] 02/4/2009 16:08

dell314 - 2 Apr'09 - 16:03 - 601 of 602 (Filtered)


dell314 - 2 Apr'09 - 16:06 - 602 of 602 (Filtered)

Dellboy angry it seems, no doubt alarm clocks early tomorrow and 1p. Everyone who missed out in ROE at 0.50p and now at 3p should seek compensation from you.

[dell314] 02/4/2009 16:06

Treacle28 - 2 Apr'09 - 16:01 - 600 of 601

These guys have seen off the worst of the financial storm through the winter season...

Hardly. They've had to try and raise new funds to survive. They are negotiating to place new shares and take out a convertible loan, as they looked to be going bust in the last interims. Unfortunately, they still haven't told us the terms of the placing, or convertible, which is rather poor as they first mentioned it 4 months ago....

Rgds
dell

All IMHO, DYOR etc.

[dell314] 02/4/2009 16:03

Treacle - It's obvious that you sold RTS this morning, as we saw your sell go through at 2.50p giving you a £300 loss.

Also, your posting rate dropped down to almost zero as you started up a new p'n'd over here. I've seen the way you con people on these boards for many years with all your different user names, so I know exactly how you work...

Rgds
dell

[treacle28] 02/4/2009 16:01

These guys have seen off the worst of the financial storm through the winter season and my research shows that they have used the time wisely, developing strategy and establishing relationships with various international partners. We will see a steady rise in share price over the coming weeks as their cash flow gathers steam. Guaranteed to be one of their best years to date!

[dell314] 02/4/2009 15:59

Hmmm. A few 100k sales going through. Is Treacle slyly selling out in chunks?

Rgds
dell

[treacle28] 02/4/2009 15:55

And another new post there:-

'but if I was, a good time to sell some of these would possibly be after Easter as said by KIS and at the end of summer. Not too sure about shares as I'm still learning, but I did work at a theme park (ride photos) for four summers, so know when revenues from photos are at their highest, and when an rns about good revenues are likely. If it reaches 2p after Easter, I'll be tempted to take out my original stake +20%, and let the rest run'.

[treacle28] 02/4/2009 15:48

New post on LSE:_

Can't be a very good one, these cannot trade in any great size and the spread will put most off. For me its a case of add on the lows and reduce on the highs, keep hold of a good stake and skim profits when the chance comes. think there is more in this beofre any skimming needs to take place. Always peak after easter, last year they went from 1.2p ish to 4p ish over a few days, no reason why it should not gove the same return this year especially since the product is established and costs are reduced. I will hold for now

[treacle28] 02/4/2009 15:46

Looks like dell is going mad in anticipation of tomorrow morning!