Absolute Return Trust Share Discussion Threads

[itsourpete] 30/4/2002 07:56

Results look as if they're going to be well received - Offer price has advanced to 1.15 pre-market

[itsourpete] 30/4/2002 07:31

Analysing the results, they cover the period to 31 December only - so the period in question was indeed a start up period. They met their prospectus objective of acquiring investment businessesand aim to be established as a broad based financial services group. They are to change their name to CFA Capital Group plc.

The future:-

- application HAS BEEN made for CF to be a sponsor to companies quoted on the official list of the UKLA,
- the core businesses are developing,
- their turnover has clearly increased this year (since 31 December 2001)
- they're looking for more acquisitions
- they have a pile of cash available

Well it looks good to me and they know where they're going. Great potential IMHO. Could be some director buying taking place now that the results are out?

Pete

[itsourpete] 30/4/2002 07:18

RNS Number:2593V
Abinger Investments PLC
30 April 2002



ABINGER INVESTMENTS PLC

(proposed change of name to CFA Capital Group Plc)



Preliminary results for the

period to 31 December 2001



CHAIRMAN'S STATEMENT



In the period to 31 December 2001, following the placing and admission of the
Company to the Alternative Investment Market, we have achieved the initial
objectives set out in the June 2001 prospectus. The objective was to acquire
investment businesses or companies in the financial services sector with
particular emphasis on corporate finance, broking and other financial
institutions requiring regulation under the Financial Services Act (now the
Financial Services and Markets Act 2000). This objective was achieved through
the acquisition of City Financial Associates Limited and Galleon Assets
Management Limited in mid December 2001 together with a further fundraising.



The Group now consists of a corporate finance and private client stockbroking
business serving entrepreneurial growth companies. Following these acquisitions
it is proposed at the forthcoming AGM to change the Company's name to CFA
Capital Group Plc and for each subsidiary to adopt the brand CFA. Galleon
Assets Management Limited has, accordingly, changed its name to CFA Securities
Limited.



The Directors believe that the target market, servicing small to medium size
companies, has not been properly addressed in the past. An opportunity exists
to create an independent finance house integrating both stockbroking and
corporate finance expertise, to service the specific needs of smaller public
companies and to this end it is the intention to provide a proactive service to
all our clients. City Financial Associates Limited and CFA Securities Limited
are now working together to establish a broadly based financial services group,
servicing small to medium size companies.



In view of the early stage of the development of your Group and the current
negative reserves on the profit and loss account of the Company no dividend is
proposed.



As the period to 31 December 2001 was essentially a start up period, an overall
net loss on ordinary activities before taxation was incurred amounting to
£290,000, which included start-up costs written off. As at 31 December 2001 the
total assets less current liabilities of your Group amounted to £2,927,000, with
Group cash at bank in excess of £1,200,000.



City Financial Associates Limited ("City Financial")

City Financial is an FSA regulated corporate finance advisory business recently
established by John Shaw and myself. The intention is to be become a leading
adviser to smaller companies and high net worth individuals. The first step
taken to achieve this was to appoint Tony Rawlinson as Joint Managing Director
and Head of Corporate Finance. Tony has many years' experience on a broad range
of transactions, advising mainly small and medium size quoted companies and has
already established a corporate finance team.



City Financial has already completed its first major transaction with the
acquisition of Expocentric Plc by MICE Group Plc, and is presently working on a
number of mandated transactions.



On 10 December 2001, City Financial was approved by the London Stock Exchange as
a Nominated Adviser (NOMAD) for the Alternative Investment Market and has since
been approved as a Corporate Adviser to the OFEX market. Application has been
made for City Financial to be a sponsor to companies quoted on the Official List
of the UKLA.



CFA Securities Limited ("CFA Securities")

CFA Securities is an FSA regulated private client stockbroker based in
Manchester providing portfolio management services to individuals and
institutions, advisory stockbroking services and an execution only share dealing
service through its "SHARENET" division.



Alongside the development of the City Financial corporate finance activity, in
2002 CFA Securities has secured brokerships for several AIM and OFEX companies.
CFA Securities is developing its fundraising capacity and has already completed
a number of fundraising transactions.



It is intended to develop the fundraising and corporate broking activities of
CFA Securities and to expand the broking service to clients seeking an
efficient, cost effective share dealing service.



CFA Securities currently has almost 14,000 clients of which approximately 7,000
have dealt over the last 18 months. In addition CFA Securities has
approximately 500 PEPs and ISAs under administration, over 2,875 nominee
accounts and a total of approximately £43.5m in these nominee PEP and ISA
accounts.



SHARENET offers an execution only, share dealing service with dealing rates
ranging from £8 - £35 per trade.



The Future

We believe that our two businesses are individually well equipped to attract and
transact business and are highly complementary and form a proven business model.



We are quickly developing a focused management team which works together on an
effective and collegiate basis to meet and service our clients' needs. We are
appreciative of the increasing level of businesses we are being asked to service
and hope and anticipate that as transactions are completed, our growing success
will be demonstrated in our financial performance.



In addition we continue to consider further acquisitions to add new and
complementary services to the Group, which will integrate into the profile and
culture already detailed.



I would like to thank all of the Group's employees for their hard work and
achievement in completing the significant developments outlined above. The
Directors envisage an exciting period ahead together with substantial growth and
look forward to reporting success in the future.



Stephen Barclay

Executive Chairman



30 April 2002




CONSOLIDATED PROFIT AND LOSS ACCOUNT

For the period ended 31 December 2001


2001

£'000
Turnover 134

Other operating income and charges (440)


Operating loss (306)

Net interest 16


Loss on ordinary activities before taxation (290)

Tax on loss on ordinary activities (15)


Loss for the financial year (305)

Dividends -


Retained loss for the period (305)



Loss per share (pence)
Basic (0.31)
Adjusted basic (0.30)




There are no recognised gains or losses for the current period other than as
stated above.




CONSOLIDATED BALANCE SHEET

At 31 December 2001

2001

£'000
Fixed assets
Intangible assets 1,718
Tangible assets 230
1,948

Current assets
Debtors 274
Cash at bank 1,223
1,497

Creditors: amounts falling due within one year (518)


Net current assets 979

Total assets less current liabilities 2,927
Creditors: amounts falling due after more than one year (39)
Provisions for liabilities and charges
Deferred taxation (15)
Net assets 2,873


Capital and reserves
Called up share capital 910
Share premium account 1,218
Merger reserve 1,050
Profit and loss account (305)

Shareholders' funds 2,873







CONSOLIDATED CASH FLOW STATEMENT

For the period ended 31 December 2001

2001

£'000


Net cash outflow from operating activities (211)

Returns on investments and servicing of finance
Interest received (net) 16
Taxation -

Capital expenditure and financial investment
Purchase of tangible fixed assets (112)
Acquisitions and disposals

Purchase of subsidiary undertakings (611)
Cash acquired with subsidiary undertakings 363

(248)
-

Equity dividends paid
Financing
Issue of shares (net of expenses) 1,778
Increase in cash 1,223





NOTES



1. The financial information set out above does not constitute
statutory accounts within the meaning of Section 240 of the Companies Act 1985.
Statutory accounts for the period to 31 December 2001 will be delivered to the
Registrar of Companies and sent to shareholders shortly. An unqualified
auditors' report has been given on such accounts.



2. Turnover and operating loss all derive from UK continuing
operations.



3. The basic loss per share is based on loss attributable to
ordinary shareholders of £305,000 divided by the weighted average number of
shares in issue during the period of 96,899,822. The adjusted basic loss per
share is calculated as the basic loss per share adding back goodwill
amortisation of £7,000 divided by 96,899,822.



4. The Annual Report and Accounts will be mailed to registered
shareholders at their registered addresses in May 2002 and from the date of
release copies of the Annual Report will be made available to the public free of
charge for one month at the Company's registered office, Pountney Hill House, 6
Laurence Pountney Hill, London EC4R 0BL.



5. The Annual General Meeting will be held at 35 Vine Street,
London EC3N 2AA at 12.00 noon on 25 June 2002.



This information is provided by RNS
The company news service from the London Stock Exchange


Abinger INV(ABR)


Three Year Chart Intraday Chart

[avoint] 30/4/2002 00:17

Lets hope this is going North.....just upped my portfolio expecting good news from the results.

[avoint] 29/4/2002 23:53

See thread from Ryan

Ryanstella - 29 Apr'02 - 19:05 - 101 of 103


Hi Tyranosaurus.

Sorry for not replying earlier, the 6 month results were due out today, but due to a "technical hitch", something to do with the P/R company`s wordsmith being unable to satisfy what old man Barclay wanted to imply, they have been delayed.

They should be released if not tomorrow sometime this week.

Without giving to much away not only will the news be good, but the various projects the group has in the pipeline and the associated fat commissions will cause more than a little stir.

I was asked two weeks ago to sell 500,000 shares at 1.35p but refused. The offer then went to 1.40p. Apparently there`s was a shortage of ABR stock at the time,

Regards

Ryan

p.s. Once the results are released, I will be able to tell more. Please keep in touch. Rest assured this company has the management and the share price will sprout legs

[avoint] 29/4/2002 21:52

Bought in today so hope the news is as good as you detail Ryan.

[lyndonharrison] 29/4/2002 19:56

This sounds good. Looking forward to a good set of results and a northward move in the share price. Good luck all, see you at the top.

Lets hope for tomorrow.

LH

[ryanstella] 29/4/2002 19:05

Hi Tyranosaurus.

Sorry for not replying earlier, the 6 month results were due out today, but due to a "technical hitch", something to do with the P/R company`s wordsmith being unable to satisfy what old man Barclay wanted to imply, they have been delayed.

They should be released if not tomorrow sometime this week.

Without giving to much away not only will the news be good, but the various projects the group has in the pipeline and the associated fat commissions will cause more than a little stir.

I was asked two weeks ago to sell 500,000 shares at 1.35p but refused. The offer then went to 1.40p. Apparently there`s was a shortage of ABR stock at the time,

Regards

Ryan

p.s. Once the results are released, I will be able to tell more. Please keep in touch. Rest assured this company has the management and the share price will sprout legs

[itsourpete] 29/4/2002 18:42

Perhaps we'll see something posted in the 'forward diary' tomorrow at 0645hrs. Better still, we may get the results.

[tyranosaurus] 29/4/2002 18:37

No news is good news?

[brasseye114] 29/4/2002 15:24

Maybe i wasnt being paranoid.
No results yet.Should we start worrying??
(:@(

[brasseye114] 29/4/2002 11:48

That a difficult call.
You can post great results and the price stays the same or goes South.
Hopefully Positive news.With a Nice Northwards motivation.
(:@)

[lyndonharrison] 29/4/2002 11:20

Edited duplicated.

[lyndonharrison] 29/4/2002 11:18

Thanks Brasseye. Irony is difficult read. :-)

Good of you to call them and post what was said. What are you expecting to see when they are posted?

LH

[brasseye114] 29/4/2002 11:06

Yeah i know i was being Ironic.
Just spoke to them and the results ARE due to be posted today.The person i spoke to did seem a bit hesitent, but that could be me being paranoid.
So its a waiting game.
At least i got out of DTL on time.
(:@)

[lyndonharrison] 29/4/2002 10:57

The ones talked about in post 76 by Ferty. ;-)

LH

[brasseye114] 29/4/2002 10:56

Ones not posted!
Ill give them a ring and get back to you.
(@)

[cjpaul] 29/4/2002 10:47

Lyndonharrison, which results are you referring to?

[a0502162] 29/4/2002 09:33

News\article should be of interest when you see the Exercise price!


Abinger Investments Plc
("the Company")

Directors' interests

The Company has awarded options ("Options") over ordinary shares of 0.25p each
("Ordinary Shares") to employees under The Abinger Investments Plc
Savings-Related Share Option Scheme including the following Directors:

Director Number of Options Exercise price per share
Stephen Barclay 760,000 1.25p
John Shaw 760,000 1.25p

The Options are exerciseable in the period commencing three years from the date
of grant on 28 January 2002.

For further information:

John Shaw, Director
Abinger Investments Plc 020 7090 7800


This information is provided by RNS
The company news service from the London Stock Exchange

[lyndonharrison] 29/4/2002 08:30

Great results.

LH

[tyranosaurus] 29/4/2002 00:34

ryanstella
I`m here.

itsourpete
greetings to a fellow Fish

[itsourpete] 28/4/2002 15:47

tyranosaurus - well we're in the best two recovery plays available anywhere in the market IMHO. Good luck!

[itsourpete] 28/4/2002 15:47

A bit of reading for you all ahead of the results,



Pete

[brasseye114] 28/4/2002 15:29

Great stuff!

[brasseye114] 26/4/2002 10:50

Good Post Lyndon.
I dont renmeber seeing the above in The Independent.Was it in recently?
(:@)
Edit.Sorry my eyes have come into play now.January.