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
  -2.00 -0.58% 345.00 320.00 370.00 347.00 345.00 347.00 2,301 14:16:30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 22.9 1.4 11.6 29.7 4

Assetco Share Discussion Threads

Showing 2001 to 2024 of 2300 messages
Chat Pages: 92  91  90  89  88  87  86  85  84  83  82  81  Older
DateSubjectAuthorDiscuss
02/9/2011
15:43
Aye, and you are doing your best (consistantly boringly) to spread fear EC - One wonders why you should spend so much time looking after all us poor down trodden PI's !! Agenda or What !!!!!!!!!!!!!!!!!
caledoniaman1
02/9/2011
15:34
Less greed, more fear needed.
effortless cool
02/9/2011
15:17
These shares pushed up my medical bills, going to need 4p to break even (medical costs included).
greedfear
02/9/2011
15:12
Oh! Where are the good old days asto was 3p? lol I've been buying all the way down, reached the bottom of my treasury yesterday.
greedfear
02/9/2011
15:09
That's the spirit treacle! Alas, still sellers around, little trust in the market that this will end well.
greedfear
02/9/2011
14:05
I'm in, have been, and will remain so. Still very confident.
treacle32
02/9/2011
13:03
well took a hit and reduced down to 15% of my holding...if other co. is getting out it's remaining 7 mill and some are shorting then depending on whether they allow rises...could go to previously lows? get more for your cash if going lower???
comedy
02/9/2011
09:14
Treacle32 - 1 Sep'11 - 18:08 - 2010 of 2011 What about the NAV getting a massive increase with the debt write off? I think EC is suggesting that this increase is already built into the 2p price you see today.
jockblue
01/9/2011
17:21
Nabarro settles £1m unpaid fees dispute with former client 01 Sep 2011 | 00:00 Author: Friederike Heine Nabarro has settled a dispute with a former client over unpaid legal fees totalling approximately £1m. The firm settled out of court, with AssetCo agreeing to pay the outstanding fees owed to Nabarro in full. The agreement came after AssetCo raised around £16m in April this year through an emergency share placement in order to pay 
its creditors. Legal Week reported earlier this year that Nabarro 
was taking legal action 
against AssetCo, which manages and maintains London's fire engines. The company was a client of the City firm for more than five years, with Nabarro's head of corporate Iain Newman managing the relationship until earlier this year. The firm advised the company on a £15m fundraising in 2009, with Newman heading the firm's team on that occasion. Nabarro also advised AssetCo on the £16m emergency share placement, despite not having been paid for its advice on some previous matters. One partner at the firm commented: "These sorts 
of situations happen more often than you would 
think at City firms, but it is 
in the interests of both the client and the firm to settle without much fuss, ideally before the news lands in the public sphere." A number of companies 
have reportedly shown interest in purchasing AssetCo in recent months, including SEACOR Holdings, Bahrain-based Arcapita 
and Italian private equity house Investindustrial. http://www.legalweek.com/legal-week/news/2105354/nabarro-settles-gbp1m-unpaid-fees-dispute-client
treacle32
01/9/2011
17:08
What about the NAV getting a massive increase with the debt write off?
treacle32
01/9/2011
15:44
1. I know it reflects the market's view, but it's no more than that and often based on emotions (highly likely here). 2. That's assuming that the marketcap will be the same. I doubt that will be the case if the placing price differs substantially. Thanks for your reply, appreciated!
greedfear
01/9/2011
15:26
Two closing points. 1. I'm not claiming the market is efficient, just that the gap between negative shareholders' funds and current market cap reflects the market's view of the value of the rescue and the probability of it happening. 2. Owning 70% of a company with a market cap of 10m priced at 10p per share is worse than owning 90% of a company with a market cap of 10m priced at 1p per share. You should do the maths on the implications of different placing prices just so that you can appreciate the risk (and opportunity) more fully. I don't think there is value here, but best of luck in any case.
effortless cool
01/9/2011
14:52
Two points on market cap vs shareholders' funds: - market cap cannot go negative - market cap is forward-looking, i.e. the gap between the market cap and shareholders' funds already anticipates the potential value from the rescue package, if it goes ahead. Hence, market cap is not additive to balance sheet items. Regarding dilution, the new capital is a lot better off if the placing is at 1p per share, rather than 10p. Notwithstanding that they already own 160m of 250m shares, they end up with a much larger share of the company at the same cost at the lower placing price. The losers are the old shareholders not involved in the rescue placing.
effortless cool
01/9/2011
14:51
Agree greedfear.
treacle32
01/9/2011
14:50
Well, I'll take it up the chin if this quest turns out wrong for me. I can only imagine this turning out into a loss for me if creditors give asto the finger.
greedfear
01/9/2011
14:46
Effortless- Offcourse you're right that shareholders funds and market cap are not interchangable. But the value of a company can be positive although shareholders funds are negative. If the value of the company is 5 million now (given an uncertain amount of shareholders funds) then that value should -in theory- improve with the same amount the shareholders funds improve. The investors group that are taking up the new shares are the same entities that took up the 160 million shares placing at 10p march 2011. To use your terms if they're bailing out existing capital then they're largely bailing out themselves (160 million out of 250 million shares). (I think they're better off not trashing the share price by diluting the hell out of the share)
greedfear
01/9/2011
14:33
greedfear re 1999, Your balance sheet sums treat market cap and shareholders' funds as interchangable - they are not. Shareholders' funds are almost certainly negative at the moment, and there is material uncertainty about how negative. When you add your 'value creators' onto an unknown negative, rather than a 5m market cap, the value post rescue is a lot more uncertain - but certainly materially lower than 41m. As to a promise made in March 2011, it's September now and much has changed with this company over the intervening period, including the share price which was over 10p in March. Why would the new capital bail out the existing capital by buying in at 10p per share? That would be moronic.
effortless cool
01/9/2011
14:27
Oh dear oh dear............as you wish but you are in for a very cold hard reality check and soon. You are completely wrong in your understanding of such matters. Your fantastical dreams of instant riches are not going to happen please trust me on that one.
rorrys
01/9/2011
14:25
Rorry- they were talking significant dilution. Would you call a reorganization that leaves the old shareholders with 60% of their original holding a significant dilution? No offence, just asking.
greedfear
01/9/2011
14:22
Well, I know balance sheets as well and I can count. Current marketcap is 5 million. If the preference shareholders agree asto will have got rid of 8 million liabilities. If the creditors agree another 16 million value is added to the company (5 million final payment for 21 million debt) If the equity injection takes place an another 12.5 million of value is added. In theory the company should be worth 41 million once the financial reorganization is a fact. That leaves us with the number of shares that will be issued. I have reasons to believe that 125 million shares (or better 12.5 million new shares) will be issued at 10p: -a 10p placing price was promised in march 2011 -after the reorganization the theoretical value of the shares will be 10p (41 million / (12.5 million newly issued shares because of equity injection + 25 million shares [reverse split 250 million old shares] + 3.75 million new shares for the preference shareholders) -it looks like the investorsgroup are taking a -80% hit by taking shares at 10p while current share price is 2p (the same "loss" they're asking their creditors and the preference shareholders to take)
greedfear
01/9/2011
14:06
If the recovery package is to work it includes a very dilutive placing . How do I know that ? Well AssetCo told me ,they told you as well by the way.
rorrys
01/9/2011
14:02
I can understand people being frustrated over this share if you've been in it prices that exceeds the current level, but it's a 2p share now. It's a risky share, because if creditors do not agree you're going to lose it all. What are the chances to lose it all? No one knows. But what we do know, is that creditors have a "choice" between getting nothing if they reject the offer or getting 23%. Furthermore two banks have already stated they're willing to accept (not binding, but they've put it in writing). If I had the choice between: 0% or 23% and I was acting rational I would go for the 23%. I think the chances of creditors accepting the offer are far better then not accepting.
greedfear
01/9/2011
13:52
I will leave you to work it out . But think on this one very important point ,very important and pertinent. The market rarely gets it wrong. Many many financial analysts have gone over this co with a fine toothcomb recently. People who understand a balance sheet. If for one second the markets thought there would be a miraculous placing at 10p and all would be well then the share price would be sitting at circa 9p and it would have done so in a micro second. If a consolidated placing takes place at 10p then it will value your 2p shares at a fraction of a penny poss as low as .0020 I can absolutely guarantee you that your 2p shares will be worth much less after any successful placing. There of course remains the fact that they may not get the agreements they need and it will go into recivership At this moment in time the company is insolvent and my only surprise is that the shares have not been suspended pending clarification of their position. That could happen yet by the way.
rorrys
01/9/2011
13:42
So you're saying the market was incapable of predicting the future and therefore the 60p price wasn't right? So why should the market be right now? Doesn't make sense.
greedfear
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