Absolute Capital Share Discussion Threads

[paperclip3] 30/4/2009 08:58

looks like there are buyers about

[jamie62] 29/4/2009 16:14

they are looking to de-list and are offering to buy-back shares at 2.5p. once de-listed, it may not be as easy to sell the shares, but they are looking at creating an "internal market" to aid the trading of shares. 32% of shareholders are NOT selling at this price. Nor am I.

[miyk] 28/4/2009 11:19

ian- in that case i will choose not to sell under tendfer agreement and wait for a better offer through the post.......hope im right

[ianbrewster] 27/4/2009 13:26

miyk - nothing to do with a majority. It is not a vote, but a decision by each individual shareholder whether to accept the tender or not.

[miyk] 27/4/2009 12:23

Simonparker5. if you tender your shares to propose to sell via td waterhouse website? are you under obligation to sell if majority shareholders favour in tender?

[ajnmx] 26/4/2009 21:50

The 32% they have the support of are all closely connected with the company. They have said they won't sell, so I guess they must be expecting a better valuation down the line somewhere.

It would be nice if the company would publish their 2008 accounts so we can see just where they're at.

[simonparker5] 26/4/2009 20:29

FWIW I have responded to the TD Waterhouse corporate action and tendered all my 90K shares. Until the meeting in May nothing ofcourse will happen with the tender. My thoughts are that 2.5p is better now and with the bid at 2p it is 25% more than what I can get in the market. The price could rise if a bidder did come along but I think this is very unlikely as they already have the support of 32% of holders.

[pelleeds1980] 25/4/2009 09:56

Same boat as you - my buy price was 2.57 so would be a tiny loss for me at 2.5 but if there is more down the line id hold.

Need to do some research but would appreciate views etc

[miyk] 24/4/2009 16:35

just had email from td waterhouse to take part in acmh tender offer of 2.5p a share as a response is required. Any suggestions what i should do weather to leave the offer and wait in case more is offered for my shares?

[miyk] 24/4/2009 12:33

herendous 2.5 p a share offer price. my cost is 4.7p! its all good to invest with them yet when it comes to paying out its share holders offering tight 2.5 p! MM played it smoothly again @ 4p just before we heard of de listing so most of the associated investors would swift away from a genorous exit price of 4p! honestly us shareholders would be lucky to get anything more than 3.5 p for each share. time will tell.......

[jamie62] 24/4/2009 10:50

aren't they talking setting up an internal market after de-listing?

[ajnmx] 23/4/2009 16:16

miyk - that was just my calculation of asset value per share.

ACMH has already stated that it will be paying out 2.5p per share.

[miyk] 23/4/2009 13:09

hope the tender offer is of good value

[ajnmx] 23/4/2009 12:29

The interim results for June 08 show net assets of around €4m, shares in issue of 77m, so net assets per share something like 5c or 4.5p. Since then they seem to be saying they've made further losses.

Most income derives from performance fees, they say that the funds are well below the high water mark so it looks like they will be making further losses.

I'm thinking the tender offer is the best way out, draw a line under it all.

[miyk] 23/4/2009 12:20

ianbrewster
ok i understand. so once they de list around june... what will happen in terms of our shares. will acmh pay its shareholders out at an agreed price after de listing? if so whats your indication price on each share? thanks

[ianbrewster] 23/4/2009 11:02

miyk - there is no suggestion that they will go into administration, just that they will no longer be a 'listed' company. If a company de-lists, it doesn't cease to exist!!

[miyk] 23/4/2009 10:33

IANBREWSTER.

MEANT A PAY OUT FROM THE ASSETS IF THEY WENT IN TO ADMINISTRATION AND CEASED ON LSE. WHAT DO YOU SUGGEST. SHOULD HOLD OR SELL AT CURRENT PRICE FOR A STINGING DROP.

[ianbrewster] 23/4/2009 09:57

miyk

don't understand you comment on 'compensation' - they are de-listing, not calling in the receivers!

[miyk] 22/4/2009 22:34

UNFORTUNATELY I HAVE 2K INVESTED! GUYS ITS OFFICIAL NEWS AND DONT KID YOURSELF BY THINKING THEY WILL BE SOME SORT OF COMPENSATION. REASON FOR DELIST IS CLEAR AS ACMH ARE STRUGGLING FINACIALLY HENCE THE UNFORTUNATE NEWS TODAY!

READ THE FIRST PARAGRAPGH!

Accordingly, the Board is proposing to convene an Extraordinary General Meeting on 21 May 2009 to put to Shareholders a special resolution to cancel admission of the Company's Ordinary
Shares to trading on AIM. In addition to AIM, the Company's Ordinary Shares are traded on various other stock exchanges. Where necessary, the Company will apply to such exchanges to cancel any such trading facilities in its Ordinary Shares. It is expected that such cancellations will become effective by 1 June 2009.

[ianbrewster] 22/4/2009 13:14

I'm thinking the same

[jamie62] 22/4/2009 12:23

for the small stake I have, i might just hold. even if they are de-listed, i would still be entitled to receive dividends and a capital gain if they were ever to happen. the business is still there

[paperclip3] 22/4/2009 12:20

The company is worth a lot more than 2.5p! The management know this.

[miyk] 22/4/2009 11:50

currypata kai. i totally agree with you in this current market acmh will not get a buyer. NO chance. From my understanding acmh are offering 2.5 p for each share BUT close to de listing time commonly what happens is the balance sheets show negative equity leaving us shareholders with a figure of zero. zero zero!

Please guys advise are we best to sell these @ current price or wait and recieve nothing?? my opinion sell and gain some of your cash than nothing?

[currypata kai] 22/4/2009 11:37

in this market you are undoubtedly not going to get a trade buyer....

[paperclip3] 22/4/2009 11:28

The management of ACMH are trying to be clever. When you include the funds to be raised from the sale of one of the funds under management, the company will have about 5 million in cash. In effect, two thirds of shareholders (the management hold the balance, and will not be selling) are being offered about 1.25 million for their shares. Once they are gone, the management will have a company with 3.75 million in cash. In addition the monthly, gross, income flow is about 77,000. The mothly costs, against this, are 225,000. A bigger funds management company could take this over and, because of economise of scale, probably run it for less than 77K. The management want to buy it cheap and sell in due course into the trade - at quite a profit. Bur look out for an opportunistic trade buyer making an offer very soon. Hold.