Aero Inventory Share Discussion Threads

[raginghippo] 04/11/2009 16:28

£720.oo p/share was offered last year!!! seven pounds uckin twenty !!!

[raginghippo] 04/11/2009 16:28

I could be at the HQ in 15 mins....hhhhmmmmmm

[raginghippo] 04/11/2009 16:26

£6 per MINUTE, every minute, everyday, 7 days per week, 365 days per year is not bad going....(£365.39 p/hour) considering their company was going knowhere..

[daihardtoo] 04/11/2009 16:23

raginghippo

still way overpaid, but the salaries/bonuses quoted in your post are wrong.
for example, the 08 accouncts say that Lewin's salary & bonus were USD 837 & USD 594 respectively.

The only thing that softens the blow a little bit is that their pie-in-the-sky share option scheme required that they invested 50% of their bonuses in AI shares.

[evaluate] 04/11/2009 16:21

Just make sure he doesn't leave the country please rh.

He is going to cost me quite a few grand I could use better elsewhere & I'm very, very annoyed about it - to say the least - in fact you could say I'm raging - Hippo.

[raginghippo] 04/11/2009 16:05

you have to question why they were paying themselves so much money....the last cashcall was purely to line thier own pockets imho...absolute rubbish that they new nothing about what was going on in their company and now they just resign and slip away...

I live locally to them so if anyone wants me to take round a message just let me know....i will be more than happy...

[sandbank] 04/11/2009 16:03

HVS: Lewin? "Well-regarded"? I don't think so.



This is the guy who siphoned off £55k of AI cash in one set of accounts to pay for his motor racing hobbyhorse "Rupert Lewin Racing Ltd" and who uses the AI warehouse as a garage for his racing cars.

[raginghippo] 04/11/2009 16:00

he done quite well out of this and im hunting down the offer crooks...

[raginghippo] 04/11/2009 16:00

Hugh Charles Bevan ACA
Finance Director and Director, Aero Inventory plc 1313
Age Total Annual Compensation This person is connected to 13 board members in 2 different organizations across 1 different industries.

See Board Relationships
48 £1,130,000 GBP
As of Fiscal Year 2008

BACKGROUND*
Hugh Charles Bevan, ACA has been a Finance Director of Aero Inventory PLC since April 2002. Mr. Bevan served as a Secretary of Aero Inventory Plc. Mr. Bevan is a Chartered Accountant. Mr. Bevan joined Aero Inventory PLC in April 2002. Between 1987 and 2001 he worked for Robert Fleming and Jardine Fleming, which were subsequently acquired by JP Morgan Chase. During this time, he worked mainly in the Hong Kong and London offices on fund raising and advisory transactions. ... In 1997, he served as Chief Operating Officer of Jardine Fleming 's Asian Corporate Finance business, and in 1999 returned from Hong Kong to London as Head of Equity Capital Markets Execution. He has been a Non-executive Director of Foamasters International Ltd since October19, 2007. He serves as a Director of Aero Inventory PLC.

Read Full Background

CORPORATE HEADQUARTERS*
30 Lancaster Road
Hertfordshire, Hertfordshire EN4 8AP

United Kingdom

Phone: [phone]
Fax: [phone]
BOARD OF DIRECTORS MEMBERSHIPS*
Finance Director and Director
Aero Inventory plc
Non-Executive Director, Chairman of Audit Committee, Member of Nomination Committee and Member of Remuneration Committee
Foamasters International Ltd
EDUCATION*
There is no Education data available.
OTHER AFFILIATIONS*
Foamasters International Ltd ANNUAL COMPENSATION*
Salary £416,000
Bonus £149,000
Total Annual Compensation £565,000

STOCK OPTIONS*
All Other Compensation £60,000
Exercisable Options 256,413
Exercisable Values £704,436
Unexercisable Options 113,234
Unexercisable Values £214,292
Total Value of Options £6,885,124
Total Number of Options 1,631,502

TOTAL COMPENSATION*
Total Annual Cash Compensation £1,130,000
Total Short Term Compensation £1,130,000
Other Long Term Compensation £120,000
Total Calculated Compensation £1,250,000

[hvs] 04/11/2009 15:04

And guess what.

The lot of them will GET AWAY with it.

LEWIN well regarded and look at what he has done ????

[iomhere] 04/11/2009 14:51

I've written off my modest holding but you have to laugh. One of the directors is called Dodge and they've now appointed a Swag to run their finances.

[40kj] 04/11/2009 14:45

The banks lent against the stock and I therefore assumed that they had instructed an independent assessment/valuation, as would be expected if lending against real estate. It is implied that inventory is of good quality and long life, if a suitable security for a loan.

I have only recently realised that much of the inventory may be consumables, ie nuts, bolts, seals. These are usually held in racks at point of use and refilled by the packet load. Tradesmen take a handful and the ones that are not used rarely find their way back to the rack. The only stock control is when the packets are put in the racks, I imagine.

[evaluate] 04/11/2009 14:35

MDJ8,

I agree.

The stock valuation was really the only question mark over the company.

Surely any competent auditor should check it before signing off the accounts? What on earth have Deloittes been doing down there?

Likewise the larger investors. Do they just trust the auditors? If so, this will be an expensive lesson - for all.

Bah!!!

[mdj8] 04/11/2009 14:07

Like you guys I've held for a while and I have a lot of shares. I am finding it incredibly difficult to come to terms with this - the annual reports were audited, they dealt with respectable companies who's own book keeping systems should have tallied with A.I., the management appeared well qualified, brokers reports positive, quality sizeable investors - Gartmore AXA and the like and Landsdowne very recently increased their holding to 16%. This issue is so basic - book keeping errors? fictitious inventory? I don't get it....

[mercury123] 04/11/2009 13:45

I've held these for ages too and the latest news does not look good at all. Difficult to believe there hasn't been fraud involved but I really hope not. Writing them off but like everyone else I hope we get something back

[sleveen] 04/11/2009 11:55

i can understand inaccurate stock valuations (kind of) but valuing non-existent stock is beyond the pale :-(

[hvs] 04/11/2009 11:11

lol !!!!

lol !!!!

MDJ8 - The positive I can put on AI is that they have a unique business.

Yes, one which u pump up with six capital raisings and then say oops the
stock valuation is wrong and then say "WHAT STOCK" ?

It is a unique but wether u can call it a Business is a different kettle of fish. Whats that smell ?

[hvs] 04/11/2009 08:46

They never PAY.

Look at RBS and HBOS no one prosecuted. Auditors got even more fees.

[evaluate] 04/11/2009 08:44

I hope somebody has thought to grab Bevan's passport & freeze his assets.

I want him to pay.

[mdj8] 04/11/2009 08:40

"I'm really sorry to hear that and so glad I sold out back in September for a 30% profit" - there are some complete @ankers on this board. No one cares what you did or didn't do, no one cares about *nobs like HVS and their ill spelt ramblings people are just concerned about the company - will it make it if so why, will it fail - if so what new info points to that, let's try and increase the intellectual level here.

[sandbank] 04/11/2009 08:32

HUGH BEVAN:

So Finance Director Hugh Bevan (I think he's the guy next to Emily Maitliss) has "decided to resign". I sure hope he's not getting a pay-off. What a pratt.

[this_is_me] 03/11/2009 19:02

hvs is of no help in making money and so is now filtered.