Artilium Share Discussion Threads

[andrbea] 22/2/2008 15:46

roll on next week then...

when sanity returns?

[magnerita] 22/2/2008 12:07

I think so yes - the £3+ levels seen earlier apparently were driven to some extent by share price manipulation, so whether we will see those levels again soon, that seems unlikely.

CEO still looks impressive and has not come from Microsoft to run a £20m company.

The recent acquisition which was partially paid by cash at least underlines there is no cash issue.

Results next week should give a beter impression on where the company stands.

Panmure thinks it is worth 90p.

[manojbhura121] 22/2/2008 11:58

Magnerite -

So, do you think its worth buying some more at this give away prices???

[magnerita] 22/2/2008 10:37

because i understand that the Global Trader position of xx m shares has not been cleared yet. Against the current volumes, it might take a couple of weeks before it is cleared.

The 6m trade couple of days ago was Cold Inv through theodore gillisen.

[manojbhura121] 22/2/2008 10:00

Inspite of these buys, why is the share price going down???

[andrbea] 22/2/2008 09:21

trio of buys

22/02/08 08:48 47.5 150,000 O 45.5 48.0 Buy
22/02/08 08:44 48.0 100,000 O 45.5 48.0 Buy
22/02/08 08:44 48.0 40,000 O 45.5 48.0 Buy

[gambler99] 21/2/2008 15:24

do i smell a bottom.?

[andrbea] 21/2/2008 14:44

concerning CFDs:

We must await the FSA's decision on this, after consulting with the Government


Feb 15:
All credit, therefore, to the Association of British Insurers for making this point forcibly to the Financial Services Authority in a submission today. The FSA has been running a consultation on what the disclosure regime should be, but with surprisingly wishy-washy proposals. The ABI is having none of that. If the shares owned, and the voting interest derived from derivatives in aggregate exceeds 3%, it believes the holding should be disclosed.

[andrbea] 21/2/2008 13:23

.. as a recent seller was finally cleared out

(see right panel):

[manojbhura121] 21/2/2008 13:23

Realism - Do you think that ever gonna get past 90p???

[realism] 21/2/2008 11:22

There is nothing wrong with Artilium. The issue is that because of the margin calls this stock tumbled

[bubface] 21/2/2008 11:07

on 13th nov cold investments had 13,975,000 shares representing 26% of the company,yesterdays announcement says they have 600,000 shares having disposed of 5,770,498 shares...erm now lets just add that up.
company connected to bonnier not announcing regulated information of chsnges in shareholding..now that rings a bell [probably with the fsa]

[realism] 21/2/2008 10:24

The company has enormous potetial. The CFDs are killing this stock.

[andrbea] 21/2/2008 10:18

so, in total, after 16.21h, 1600000 pounds worth (all buys?)
someone's keen?

[andrbea] 21/2/2008 09:37

trades late on (yesterday)

20/02/08 17:30 44.75 100,000 O 44.0 45.25 ?

20/02/08 17:21 46.0 5,000 O 44.0 45.25 ?

20/02/08 16:21 46.0 125,000 O 44.0 45.25 Buy

20/02/08 16:21 46.0 125,000 O 44.0 45.25 Buy

[charlie] 20/2/2008 21:26

Reputation risk haunts Global Trader
Uncertainty over the size of losses and fate of European clients causes jitters in the market.

Julius Cobbett
19 Feb 2008 01:48

South Africa's leading contracts for difference (CFD) broker Global Trader faces serious damage to its reputation after troubles emerged in its European business last week.

Moneyweb community members have asked how robust Global Trader's business is, if a single trader in a satellite division was able to cause such trouble to the entire group.

Speaking on the Moneyweb Power Hour Friday, Global Trader CEO Charles Savage said a single European client had a portfolio, which consisted of two stocks, "and over the course of the last three months those stocks had depreciated in excess of 80%. And although we had more than 50% margin against them, it wasn't sufficient".

Savage said that when it was clear the client wasn't able to fund his losses, the next course of action was to liquidate the positions against those margin calls.

"He was holding two stocks," said Savage. "The one we were able to liquidate in a relatively short period of time, but the other one - the liquidity in that stock dried up, and we were unable to liquidate it."

Global Trader has declined to comment on the size of the client's losses, but it is obvious that they are large.

Tellingly, the losses were apparently too large for Global Trader or its parent, JSE-listed Purple Capital (JSE:PPE), to intervene and cover them.

This is despite the South African business (which accounts for more than 80% of Global Trader's profits) being "highly profitable". Global Trader South Africa is doing "exceptionally well", says Savage, and continues to set new records.

Meanwhile, Purple Capital assured its investors that Global Trader's South African operations are unaffected legally or economically by the circumstances of the European division. But this is cold comfort to European clients, who have been informed that the business could be sold to a competitor and who may not withdraw their funds.

The fate of Global Trader Europe's clients remains uncertain. The company has been placed under administration, to prevent a "potential liquidity risk".

In a press release, Global Trader said: "GTE felt the best approach was to file for administration under UK law, a situation the directors believe is the best scenario for creditors to be treated equally and where no-one creditor may call for GTE's insolvency."

Savage said that Purple Capital does have collateral against the amount owing from the mystery client. "We had collateral against the positions, but that collateral did not count as capital from the FSA's [Financial Services Authority's] perspective, and includes things like houses, and the deposit of an aeroplane, etc," said Savage.

Shares in Purple Capital tumbled as much as 28% on Friday, something which did not surprise Moneyweb market commentator, Wayne McCurrie of Momentum: "The market gets very concerned - what other exposures are there? Is there anyone else like this?," asks McCurrie. "Until there's finality on the actual value of the write-off, what recoveries there are - the market will totally and utterly punish the share [Purple Capital], which is of course what we've seen today [Friday]."

Global Trader was bought by Purple Capital in July last year for UER36m (R275m). The purchase was partially funded by the issue of 88,6m shares for cash at a price of R1,80. On Monday afternoon, Purple Capital shares were trading at R1,20 apiece.

Savage says that the Purple Capital acquisition resulted in new risk-management policies and procedures being implemented at Global Trader. "This [bad trade] was a position that was on the books of our European entities prior to the Purple transaction," said Savage. He said there is no way a trade like that could ever happen again.

[charlie] 20/2/2008 17:05

Sunday Express

February 17, 2008 Sunday
U.K. 1st Edition

Global should have said scoot;
The Insider

PERHAPS CFD broker Global Trader could have avoided collapse if it had said no to one client.

Last week the Financial Services Authority forced the broker to close due to losses incurred by said client's punts on software group Artillium.

The Insider now hears the client is Robert Bonnier, who led directories business Scoot. com into oblivion before being fined GBP 290,000 for misleading the market about the shares he had in office company Regus.

[magnerita] 20/2/2008 17:00

Artilium plc

("Artilium" or the "Company")

Notification of Major Interest in Shares


On 19 February, the Company was notified by Mr Johan Frencken that, further to a
purchase of 1 million Artilium shares affected on 15 February 2008, he and his
company F.N.I. Holding BV, have a total interest in 4,374,283 Artilium shares
representing an interest of 7.6% of the outstanding voting rights. This
information was not notified by way of Form TR1 and accordingly may be
incomplete.


Today, 20 February, the Company received notification from Cold Investments
Limited (although not in the prescribed form) that following the sale of
5,770,498 shares held by Theodore Gilissen on behalf of Cold Investments
Limited, Cold Investments Limited has a resultant holding of 600,000 Artilium
shares. The Company notes the discrepancy between this notification and prior
historic notifications received, and has requested clarification of the
movements which give rise to the final position notified to it today.




seems like the company is lost on what happens to their shareholder base....

At least this seem to suggest that the cross from yesterday was not the Global Trader position - might explain today's weakness.....

[realism] 20/2/2008 16:36

what a disappointing day!!!!

[shanksaj] 19/2/2008 23:07

Finally closed all shorts on ARTA yesterday. I'll think about nibbling (shortbread) again if it reaches 70/75p. So, I wish you longs well in the short term!!

[abadan2] 19/2/2008 15:43

Overhang cleared, shares going to run.

[johnwalton] 19/2/2008 13:52

10k was a little higher up and average 61p
HOLD for me