Avi Global Share Discussion Threads

[iulia] 18/11/2004 15:09

That's it, I got the stress out of the system.

My loss is only a few hundred pounds and my capital gains for 2004-2005 are already over the threshold, but I feel very, very sorry for the guys and gals with significant holdings.

[iulia] 18/11/2004 15:07

Following the sale of JAM and Morpheme, the board of AGT manages to issue an RNS with 357 words without mentioning the price of the sale.

How can they get away with this? By being in the UK. Say whatever you want about the USA, but following the Enron saga their judges are sending corporate crooks to jail with very stiff sentences for doing this type of dirty tricks.

[iulia] 18/11/2004 15:00

The RNS is an example of corporate nonsense:

"Following the sale of JAM & Morpheme ... at best, only a nominal dividend is likely to bereceived by Argonaut from ASL."

How about the proceedings from the sale of JAM & Morpheme?!!!

This is the same as saying "Following the sale of my car, tomorrow is Tuesday" What was the price of the car? What happens to the proceeds of the sale? Why, can't you read the RNS??? Tomorrow is Tuesday!!!!

[iulia] 18/11/2004 14:52

"Following the sale of JAM & Morpheme the administrators have informed the Boardthat, after settlement of preferential claims, the costs of the exercise and anyrealisation of assets from ASL, at best, only a nominal dividend is likely to bereceived by Argonaut from ASL."

So, a company with no debts (AGT) sells its subsidiaries for millions and guess what, the selling price barely covers the expenses. Furthermore, the previous CEO aquires the two subsidiaries (JAM and Morpheme), which have a significant intrinsic value, from the administrators he selects and appoints, in a highly controversial transaction concluded in less than a week at an undisclosed price. The old sharedolders are then told that they will receive next to nothing in six months.

Jez deserves to go to prison for this.

[harry punter] 18/11/2004 14:03

and they are darrens----morally stinks and its all above board

[darrens] 18/11/2004 13:56

As far as I can tell they're just trying to drag things out and hope that shareholders decide to give up and move on.

Shameful really.

[bleddry] 18/11/2004 11:55

Wait 6 months to find out what? That we'll get nothing back from our investment? Yeah - really worth waiting that time to find out something that we more or less know already.

[idgt] 18/11/2004 11:52

Reading between the lines of the RNS, the board is basically saying that the shareholder will have to wait another 6 months before we hear anything else.

[jack_pott] 18/11/2004 11:29

Shafted yet again!!!!!!!!!!!!!!!

What I think they are basically saying is that jezzy-boy and co. will take any royalties over the last few months, minus the admin costs. Is that correct?
JackPott.

[harry punter] 18/11/2004 10:54

so the tax loses all go with san and the subsideries then ---well are the remaining director's of agt still taking saleries if so what for -where's the justification in this ?---more questions than answers as usual ---i see no-one has signed or put a name to today's announcement ---where's the head office now ?

[harry punter] 18/11/2004 02:46

is san invited lol

[targatarga] 17/11/2004 23:30

Was mentioned about a few of us meeting up. OK with me. If we can just decide on when and where? regards.

[rdpounder] 17/11/2004 22:56

LDM, I know, it's just that Outlook was trying to download the email, failing, and as a result not downloading subsequent emails (i.e. getting stuck on Jiggle's). I've sorted it now though, cheers.

[ldmachin] 17/11/2004 19:33

rdpounder,

Go to the 'files' section of the Yahoo Argonaut Action Group, Jiggle has kindly made the files downloadable there. i.e. so you don't have to use email to get it.

Cheers.

[rdpounder] 17/11/2004 19:09

Jiggle, can you recall that message that you sent about the thread download? It's refusing to download to my Inbox and is blocking Outlook from downloading other emails. (I've posted this on Yahoo too)

[bleddry] 16/11/2004 20:48

At least some in the trade press don't grovel to San the Saviour.

[jiggle] 16/11/2004 20:08

Great idea LDM

[ldmachin] 16/11/2004 19:28

To get a bit more organised with sending and recieving emails within the Argonaut Action Group, i have set up a yahoo group account. If you haven't done so already, click below to join! It only takes a couple of minutes and means you don't need to worry about maintaining individual emailing lists yourself. It also has a 'chat' feature which is a lot more secure than this BB




Click to join argonautactiongroup

[skintvestor] 16/11/2004 14:56

harry punter (top ----er) filtered!!!!!

[harry punter] 16/11/2004 14:30

even if we had 57% of the votes its too late ---its all over ---there is nothing we can do

[bleddry] 16/11/2004 14:12

Dell I also find it strange that the former director of a destroyed plc seems able to pluck out the remaining assets, leave the plc with all the debt, get praised heaped on him by the trade press (well, actually that bit doesn't surprise me) and never be expected to account to anyone for the price he paid or the profits he's about to make. If it turns out to be true...well, it seems pointless to invest in anything.