Asian Growth Properties Share Discussion Threads

[modellermark] 12/7/2002 13:06

OK - so now it being deleted - if I am right that means it has either totally sunk - which I actually find hard to believe, or it has been taken over and we are about to become shareholders in another company - maybe - does anyone have any news? - nothing that I can see on their webs site.
Who is AIT Group now about to become?????????

[dragonhorse] 11/7/2002 21:34

Its happened before & it'll happen again, sad to say.

[mug punter] 11/7/2002 19:42

Don't know, but I suspect they will fail to sell the company or parts thereof (gets more likely by the day in current market) and will then call in the receivers since there will not be enough cash to pay off the banks and other creditors.

There will be nothing left at all for the shareholders.

[modellermark] 09/7/2002 11:16

Does any one know what is happening with this -

[shaden] 26/6/2002 15:02

After a VERY close reading of the annual report for 2001,I can see that the clues are there.
(1) The auditors Baker Tilly resign.
(2)Who takes over? ANDERSEN, remember Enron and today WorldCom.
(3)The board acknowledge that it is best practice to have an internal audit function.But considers that leaving internal control to the coo/cfo is quite sufficient.Was that not the chap who a few months later sold all his shares and rapidly departed?
(4) Body language?.The ceo looks as miserable as sin ,whilst the now departed chap looks like the cat which has just got the cream.
Elementary my dear Watson.But will the people who are paid to regulate our financial markets see anything unusual?I have my doubts!

[indalo] 20/6/2002 08:49

Glen, my "luck" has been good enough to make me 150%+ in the last 15 months, without risking more than 10% on one trade...I'd say that's a pretty "grown up" score!

When I need help with my spelling/grammer, I know who to ask...

[glenwood43] 19/6/2002 18:21

Indalo,your luck wont hold when u play with grown ups,as u do..

[indalo] 19/6/2002 17:02

I also feel pretty lucky..Got it wrong and still made a profit..hehehe

[salpara111] 19/6/2002 15:20

mr tom. I think that Liffe is being somewhat sarcastic!
either that or insane!

[mr tom] 19/6/2002 14:06

Liffe
Do you know something we dont

[liffeftseaim] 19/6/2002 13:14

813061, Glad I bought some before it was suspended, 18k worth.

[calamity] 19/6/2002 11:52

Oh dear, sorry to see this happen, but it had this written all over it to be frank, acka CEDAR. Looks like it is heading for a Venture capitalist to step in, if the price is right for them. All those buyers last week and since the fall must be ruing their decision, problem is greed, seeing such a fall and expecting a sudden rise back to the heavens, wont happen re:- previous post 131. Sorry for those that have lost out, live and learn is the motto.

[cyber investor] 19/6/2002 10:45

Have a look what happed over at SWD

very similar scenario and .. the shareholders got .. NOWT

[photon] 19/6/2002 10:07

it is to be hoped that the sale is concluded quickly, for the sake of the staff

it is likely that the management will all go, but hopefully most of the technical staff can be kept on to work on existing and future contracts under the new owner

what will the new owner pay?... well AIT has just over £11m of debt that it has admitted to, has some decent contracts but has currently unquantified p&l position... they'd be hoping to get enough to cover the creditors but i can'tsee anyone paying more than £11m for the company

so a sale would save some jobs and sort out some of the creditors, but i can't see there being anything left over for shareholders unfortunately

[813061] 19/6/2002 08:52

I repeat my earlier post.

The last company I know where the directors gave the company an emergency loan was AB Airlines. The company went bankrupt.

This one is heading the same way.

Look before you leap. What often seems cheap ends up being very expensive.

[sirrah] 19/6/2002 08:31

clocked it g_m

[johnpison] 19/6/2002 08:31

g_morrall

Ditto


JPI

[g_morrall] 19/6/2002 08:21

Disgraceful!

Just hope you guys dont lose everything

[photon] 19/6/2002 07:43

suspended

"liquidity difficulties can no longer be regarded as short term"

bascially looks they are going to try and sell off what they can so that the company can "discharge its liabilities"

this means there will be little or nothing left for shareholders - and the company will not return from suspension

[cipher] 19/6/2002 07:40

And the answer is: 2. The shares are suspended.

[salpara111] 17/6/2002 09:30

I'm unclear as to what everyone is arguing about here.
As I see it the facts are.
1. Company has a cash flow crisis.
2. The banks wont lend any money, hence the director loan.
3. The auditors wont sign off the accounts.

There is not a hope in hell that a buyer will be confirmed before the accounts due date. Given the state of the accounts any due diligence would most likely take up to 6 months before all the stones have been overturned to reveal all the nasties lurking underneath them.

This leaves only 2 possible options in the immediate future.
Either
1. The auditors have a change of heart ( dont make me laugh!)
2. The shares are suspended.

Ask yourself......do you feel lucky punk?