African Battery Metals Share Discussion Threads

[mister md] 06/12/2013 10:26

when they hit 0p or get delisted it doesn't really matter how many shares are in issue

[pimpi] 05/12/2013 18:21

are many shares do ABM have in issue according to Advfn 43.13m but according to the company 55,532,891
hxxp://www.albemarlebondplc.com/LatestNews/Commencement-Of-Formal-Sales-Process.aspx

[bad robot] 04/12/2013 18:06

If all directors are gone

who's running this pile of Kaka?

I hope it's not the toilet cleaner from Poland, Mr Kuntolewski, as he will be loading his bag with gold bars

[hosede] 04/12/2013 16:27

MMknight
Doesn't the fact that they have lost all this money show that they were NOT ripping off the public at all? They were taking a substantial risk - that gold (in particular) would fall in value and it's gone wrong for them. The management ere just incompetent: they should have hedged their position with a gold Put option or similar

[quepassa] 03/12/2013 22:06

Interesting article from The Telegraph.

Curious description of PwC who, according to The Telegraph, has now been hired by lenders to advise them on their options.

The full article can be found here:-




ALL IMO> DYOR.

QP

[skyship] 03/12/2013 21:17

John Moulton, formerly of Alchemy, announced as one of the interested parties...

[quepassa] 03/12/2013 18:08

22% down on the day after announcing the start of a formal sales process.

Not an auspicious start.

Market cap now less than £7m.

For a listed UK company with such a microscopic value, I do ask myself if the formal sales process is as much of a face-saving exercise as anything else.

ALL IMO. DYOR.

QP

[grahamite2] 03/12/2013 14:26

OK Quepassa, got your number now.

[nmknight] 03/12/2013 13:42

well at last. after months, years of ripping off the general public by offering a pittance to hard up jo public for their gold finally these parasites have been brought to bear. its nice to see these rip off companies and those that support them getting a tast of their own medicine. I have no sympathy for this company or others like them. they rip everyone else off then squeal like banchees when the going gets tough for them. even the directors jump ship like cowards. so called "personal reasons". bet if the co was offered a golden egg these personal reasons would evaporate over night. 0p share price cant come soon enough imo.

[hvs] 03/12/2013 11:18

Looks like Wonga turned the Board down.

No wonder they resigned. Mia culpa.

[quepassa] 03/12/2013 10:38

grahamite 2.

It would appear from your comments that you have

1) little or no knowledge of the workings of the secondary loan market for traded bank debt , or

2) feeling for the occurrence in the event that this somewhat desperate (if not, last ditch) attempt to flush out an acceptable Public Offer for ABM from the market fails.

I read the last four posts with interest.


ALL IMO. DYOR.

QP

[still waiting] 03/12/2013 10:32

in a shrinking market who will want all those leases??

a pre-pack / some sort of liquidation process is the only way to shrink the estate to fit..

[dewtrader] 03/12/2013 10:31

Still Waiting 3 Dec'13 - 10:19 - 1020 of 1021 0 0

prepack can't be far.



there will be no value in the equity imho..





We still need administrators to sing sweet songs, staff will be saved, plenty of buyers for the biz, etc build up hopes and then let it croak

[still waiting] 03/12/2013 10:19

prepack can't be far.

there will be no value in the equity imho..

lease obligations etc etc..

gla

[bad robot] 03/12/2013 09:00

2 auction after each other???

[bad robot] 03/12/2013 08:50

wow

1p today i suppose

[grahamite2] 03/12/2013 08:43

The question for me is: would the banks be prepared to accept less than 100p in the pound for the debt for a quick sale.

After a long run of pessimistic but accurate contributions, I wonder if you haven't tipped over the edge into scaremongering there.

Such a settlement could not be achieved through selling the company. There is not the slightest evidence that this is what the banks have in mind; indeed their conduct indicates the opposite.

[quepassa] 03/12/2013 08:35

In my view, it is the banks which are likely driving the sale.

Sadly, if that is a major factor in the decision to put itself up for sale, the banks have little vested interest in getting back anything other than their money.

A rush sale at year-end, over the Christmas/New Year period is sub-optimal from an M&A timing point of view in my opinion. Christmas trading figures won't even be available.

If they waited until after Christmas, there probably would not be enough time before the twice delayed Covenant Test date looms in February.

Potential offerors will know all this. The sale is from a position of distinct weakness and in my view is unlikely to achieve much of a premium.

A lot of Goodwill in the Balance Sheet, little in the way of freehold property and the current stock or inventories have been in the process of being sold down.

Enterprise Value is debt plus market value which now totals in the region of £60m.

Not big but an extremely large chain of shops to manage and a hefty wage-bill to pay every month against a high-street brimming with competition.

The question for me is: would the banks be prepared to accept less than 100p in the pound for the debt for a quick sale.

ALL IMO. DYOR.

QP

[el chupacabra] 03/12/2013 02:27

Albemarle & Bond eh, sounds like a good name for a crime fighting duo :)

[grahamite2] 03/12/2013 02:23

Interesting. Provident must have a similar customer base, I'd say.

Some mediaeval bishop once said that the poor are a gold mine. I still think that's true, but there has to be a bit of caution.

[acquisitor] 03/12/2013 00:27

Another Kiss of Death from Robin Ashton. He nearly tipped Provident Financial over the edge, then London Scottish Bank died on his watch and now ABM. He has also become Chairman of Leeds Building Society. I know where my money ISN'T going.

Maybe this is worth buying if he has resigned.

[grahamite2] 02/12/2013 23:05

It could hardly be clearer that the banks have taken control informally. Why else would the EZCorp directors have gone?

[simon templar qc] 02/12/2013 23:00

I don't know what will happen to the share price first thing now. Is the company worth £8 million with £50 million of borrowings?

It all depends if its still profitable. That is the million dollar question. Trouble is they are selling their inventories off and that can only go on for so long.

I reckon this is a last ditch attempt now and if they cannot sell off soon its almost over for the company.

The only other thing that could happen is the banks take control of the company but would they really want to do that it would be bad for their image.