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Share Name Share Symbol Market Type Share ISIN Share Description
Assetco Plc LSE:ASTO London Ordinary Share GB00B42VYZ16 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 350.00 320.00 380.00 350.00 350.00 350.00 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 5.3 -0.8 -6.3 - 4

Assetco Share Discussion Threads

Showing 1976 to 1995 of 2375 messages
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DateSubjectAuthorDiscuss
01/9/2011
14:31
Oh I can read sunshine and so can the market , I suggest you take lessons.
rorrys
01/9/2011
14:29
We're going to have a good laugh within a week treacle! This is as close as you can get to "stealing" money the legal way.
greedfear
01/9/2011
14:26
Don't know about treacle, but I'm expecting a 10p placing it's all in the documents to read if you have an eye for it. Markets know nothing, there's no such thing as an efficient market. Was the market right valuing this at 60p a year ago? Obviously not as we're 2p today. So why should the market be right today? It sure did a sh#t job in the past!
greedfear
01/9/2011
14:22
Yes I do thanks.
treacle32
01/9/2011
14:00
You're very quiet today, Treacle32. Still expecting 10p? The market tells a different story.
effortless cool
31/8/2011
21:19
The preference shareholders could get 10p i.e. 25% of 15 million owed via 3.75 million shares = near 4 million pounds. Also, as a creditor around 23% of what is owed in line with others. They would never accept less than around 4 million pounds imo. Simulatenously, I think the 12 million will be raised at the same price of 10p. At 2p the preference shareholders would get less than 1 million pounds back from their 15 million investment. I don't think so.
treacle32
31/8/2011
19:16
SOA:- http://assetco.com/Investor-Relations/Documents.aspx
treacle32
31/8/2011
16:50
Just to be fair: the preference shareholders are holders of a foreign subsidiary. They are no holders of Asto (the listed company) which only has ordinary shares.
greedfear
31/8/2011
16:29
at this rate the surplus sold is 1 mill today...and if this continues then by next week they will be out?
comedy
31/8/2011
16:18
"In short creditors get circa 20-23p in the £, a £12.5 mill placing at some undisclosed level and the preference shareholders get 3.75 mill ord shares for their prefs (circa 5p in the £)". If creditors and preference shareholders are taking hits like that, I think it is fantasy to imagine there will be any value here for ordinary shareholders.
effortless cool
31/8/2011
15:41
There will be a large write off on debt. See my article from last friday. For example, if SOA is not agreed then Northen get less than £10,000 or if they agree then £300,000 and rather than the full amount of 1.40 million. Pay about 23% debt on everything.
treacle32
31/8/2011
15:41
Agreed it looks good for Creditors. A tough call for shareholders but a complete finger-in-the-air guess says mildly positive from these levels. I don't have the guts to buy but suspect those that do will do okay. IMO, DYOR. My interest is through a big holding in North Atlantic who AIUI subscribed for the prefs on the understanding that this couldn't happen as the Abu Dhabi subsid was ring-fenced. Needless to say I'm not too happy with Chris Mills right now but clearly he's trying to engineer some sort of return. IMO he's such a good manager that I'll forgive him this mistake, but part of me wishes he'd just stomach it and walk away. His portfolio is chocked with value right now so he must be seeing something here rather than focusing elsewhere. I just hope it's not beligerence dressed up as investment nouse.
deswalker
31/8/2011
15:25
I've read it. Creditors will go for it I'm sure.
greedfear
31/8/2011
15:12
I have read the docs . Interesting !!
ccr1958
31/8/2011
14:39
LOL. Why are you guys tapping on here when you should be reading the docs. No position.
deswalker
31/8/2011
14:37
18th March 2011 Statement regarding Additional Capital The Company announced on 14 March that the approach taken by certain creditors has impacted the ongoing working capital requirements of the Group following its proposed £16 million Placing. The Company has continued discussions relating to these matters and has concluded that it still will not have sufficient future working capital. In order to provide the necessary certainty for the Group and to allow the Placing to proceed, a number of the major shareholders of the Company have indicated that, in the event that the Company cannot meet its needs from banking sources, they would be prepared to provide additional support for the Company's requirements. This support is subject to a maximum of £10 million, although the Company does not currently anticipate that the maximum amount will be required. If the support is provided by means of further equity it is intended that it would be at not less than the Placing price of 10 pence per share. Further details will be provided before the shareholder meeting. ------------------------------------------------------------------ What this statement clearly says is this........... The lenders(we already know the names of the 3 instis which took part) Would "CONSIDER" lending up to £10 mill if required as further support and if "more shares" were the chosen way for them to be paid then they would insist that such lending was based on the share price being at 10p or above. Otherwise forget it. Since then more debt has been discovered and a paltry £10 mill dont touch it nor come close. As for a buyout if a buyout were to succeed then such a buyer would have to take on the companys debt.Which as we know is vast so any such buyer would probably offer a nominal amount for the co ie £1.00 yes thats right one pound.They are taking on £100 mill in debt so a fee of one pound for the co would be reasonable . Why take on such debt when you can let them go into admin and snap up the tasty bits from the reciever for pennies and whatsmore with NO DEBT!! It looks to me that any potential suitor has stepped back and the co are trying to get a creditor agreement and issue more paper.
rorrys
31/8/2011
14:24
Rorry- I'm a serious investor ALWAYS doing research. I too do think that ASTO is very much undervalued. You base yourself on FACTS you say? Where exactly is one to read that a t/o at 2p was agreed on? Or are you making that up in order to justify your view of ASTO? If you base yourself on FACTS then you know there is no such thing as an efficient market. Sorry to wake you up there! BOL
greedfear
31/8/2011
14:23
Much of the info is now there on the website. In short creditors get circa 20-23p in the £, a £12.5 mill placing at some undisclosed level and the preference shareholders get 3.75 mill ord shares for their prefs (circa 5p in the £). If it don't happen then it's bust but they see significant value in ME contracts.
deswalker
31/8/2011
14:18
Thankyou both just intreagues me this is on HS . Thanks both !! ccr.
ccr1958
31/8/2011
14:01
In march 2011 the investors group committed themselves to take up newly issued shares at 10p for a period of twelve months. A lot has happened since then. Very true. One of them being that the creditors will -as far as we know now- get paid 25 million for the 100 million debt. Sharesholders will benefit from that as equity improves with 75 million. Currently there are 250 million issued shares issued. If the placing price is 10p then the investors group will get 100 million newly issued shares in return for the 10 million equity injection. The investors group will benefit (via the newly issue shares) from the raise in equity of 75 million (due to the creditors agreement) for 100/350 part, being -roughly- 21 million (=75 x 100/350). So for providing 10 million new equity at a 10p price (which they committed themselves to only a couple of months ago) they'll get rewarded with a raise in equity of 21 million. Instantly turning 10 million into 21 million does look like a rather good deal. Mind you, the investors group will only take up the newly issued shares if (when?) an agreement with the creditors has been reached. Besides that as the investor group currently allready hold at least 160 million shares out of the 250 million (didn't bother to look that up), there's very little need to dillute the hell out of it all as there's not that much to gain for them. (That would be very different if they were currently holding 10 million share or so). Is a 10p placing possible? I think so. If the preference shareholds are being asked to convert their £15m of preference shares at 10p per ordinary share, there will be another 150m shares issued. I also cannot see that the preference shareholders will agree to convert their shares at 10p if the investor group is injecting capital at less than 10p. Therefore there will be 250m shares issued and the company will reduce their liabilities by £15m and increase capital by £10m
treacle32
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