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ASTR Astaire Grp

2.125
0.00 (0.00%)
27 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Astaire Grp LSE:ASTR London Ordinary Share GB0031792194 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.125 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Astaire Group Share Discussion Threads

Showing 51 to 75 of 300 messages
Chat Pages: 12  11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
09/8/2010
06:27
I'd be a bit suspicious of the "facts" in that one - City Spy is a good friend of the old management ousted by Roberts and Vandyk so there's probably a fair bit of malice involved. Can't decide how I feel about the alleged offer from daniel stewart - 2.5p would be good at this point but their shares are as bad if not worse.
warpedone
07/8/2010
08:19
good find, even though it signals more doom.
lr4850
07/8/2010
08:16
Evening Standard 6th august

Merry dance at Astaire
More high jinks at stockbroker Astaire, formerly known as Blue Oar, as shareholders try to oust finance director Chris Roberts.

Erstwhile boss Edward "Dr Death" Vandyk, no stranger to City Spy, has already walked the plank. Dissident investors are unhappy with Astaire's curious takeover techniques, while it is also being sued by lawyers acting for those who lost money in the Izodia software company scandal in the early noughties. Roberts and Vandyk were briefly on Izodia's board, hence the interest of m'learned friends.

The agitators are furious at what they claim is the mismanagement of Astaire and want the business effectively wound down, with remaining cash returned to shareholders...

The list of criticisms of Roberts is not short.

He was in charge of implementing Rowan Dartington stockbrokers' new settlement system in 2007, which led to a £1.4 million black hole in Astaire's accounts and a regulatory fine of more than £500,000. The activists complain that despite all Astaire's woes, which have left its shares practically worthless, Roberts earned £264,000 in 2008.

City Spy also hears that stockbrokers Daniel Stewart offered 2.5p a share, in Daniel Stewart stock, to buy Astaire - a deal that would have valued the firm more than double its current price. Astaire, in its wisdom, rejected the offer.

yohoho
04/8/2010
06:38
Announcement:

RNS Number : 4839Q
Astaire Group Plc
03 August 2010

Astaire Group Plc

Requisition of General Meeting

3 August 2010

The Board of Astaire Group PLC ("Astaire") announces that it has received a requisition to hold a general meeting proposing three ordinary resolutions requiring (i) the Directors to take steps to return any cash in excess of regulatory and working capital requirements to shareholders; (ii) to dispose of
Astaire's businesses or solicit offers for the Company; and (iii) to remove Chris Roberts, the Company's Finance Director.

While Astaire intends to comply with its statutory obligations in relation to the meeting, the Board perceives the requisition to be an unwelcome distraction at a time when, as disclosed in an announcement on 15 July 2010, it is already in discussions with a number of parties with a view to either achieving a change in majority ownership of the group (with a 'whitewash' in compliance with the Takeover Code) or a change in majority ownership of the main operating
businesses.

A further announcement will be made about the progress of such discussions in due course.

warpedone
16/7/2010
19:32
I make my judgement about the price not from the news, but what isn't said. If an interested party wanted to buy a stake in the business and thought it was worth today's share price, there is a 50% stake that Evolve is trying to offload. The company has frittered away its cash pile and is danger of running out of regulatory capital if it loses the big lawsuit, or continues to trade poorly, so anyone interested in the company has a strong negotiating hand and will demand a big discount.

Also, if the management of Astaire think the company is good value at a penny, why haven't they filled their boots with shares?? They are either planning to take it private at a huge loss to most shareholders, or waiting for a white knight to steal the company from shareholders. Either way, shareholders will be shafted.

acquisitor
16/7/2010
06:32
Acquisitor - I know there were a couple of announcements yesterday, but did they give a price, you said it's a discount but I haven't heard what it is yet.
warpedone
15/7/2010
16:31
The company is about to massively dilute existing shareholders by allowing a third party to buy discounted shares in order to reduce Evolve's percentage shareholding and bolster the balance sheet. I think someone needs to be asking questions of all the people who have been involved with this company over a number of years! I don't think anyone of them has served shareholders well.
acquisitor
13/7/2010
08:53
Davidosh - I've been to plenty of AGMs where the registrar has refused entry to anyone who couldnt prove ownership (i.e. they had shares in nominees and no letter confirming they were the underlying holder) and I think its a pretty common problem. Monk just loves publicity so he presumably grumbled to his journalist friends that he had been singled out when in fact he just didnt prepare adequately.
warpedone
13/7/2010
08:26
There is a bit of coverage in the Telegraph. Sounds quite a meeting. I did not attend as I am certainly not a shareholder but the nominee account issue suggests the problem needs investigating to protect genuine shareholders.



Astaire two-step avoids questions

More fun and games at struggling City broker Astaire. Just weeks after losing its chief executive Edward Vandyk the company has barred one of its largest shareholders from its AGM. Andrew Monk, himself a former chief exec of the company, was turned away as his shares are held in a nominee account. I think that's known as a technicality.

Still, it meant the company avoided some awkward questions. And stored up a few more for the future, I presume.

davidosh
30/6/2010
16:44
I don't suppose anyone went to the AGM?

That's a question for shareholders, not the Board....

acquisitor
12/6/2010
00:02
just had a look at the annual reports and accounts for yr end 2009. Doesn't appear to be any remorse from management regarding the stonking losses. In some ways it appears they hit the self destruct button sometime ago... imho
targatarga
11/6/2010
19:12
lyndsay mair will buy it ?
solarno lopez
11/6/2010
19:10
Ir4850 - funny how management mess up and the shareholders lose out with a fine....
targatarga
11/6/2010
19:02
Rumours were before these massive fines which demonstrate considerable incompetence of management. No one will touch Astaire now!
lr4850
08/6/2010
04:49
totally agree and coupled with the rumour that Fairfax will take them out makes for an interesting situation
solarno lopez
07/6/2010
17:37
I thought they were "option money" at a penny to buy, but could only get 100k shares. Pure gamble, but the odds look good.
acquisitor
07/6/2010
11:45
solarno - pure gamble....could go either way. regards
targatarga
07/6/2010
11:44
No its not a good price as they are below 1p..... an opportunity??
solarno lopez
07/6/2010
11:38
solarno - Paying a fine for losing money and also unable to ascertain where the money went. Perhaps it fell down the sofa?
targatarga
07/6/2010
11:05
They are back at 1p to 1.25p is that good ? as I am a buyer
solarno lopez
06/6/2010
07:49
I used to be a shareholder in this and did quite well, selling at 26p. I have been waiting to get back in, and seen the huge cash pile burnt over the last few years by both management teams. Such a great story of failure of corporate governance.
acquisitor
27/5/2010
09:13
The Evolve/Blue Oar takeover was one of the darkest days in the city it was bent from the start with Evolve making false promises to key shareholders in Blue Oar it caused a business that Andrew Monk was turning round to be destroyed and many/most employees to lose all their personal savings in the company.

Can not understand why one or two of the players are not banged up inside now.

seagreen
26/5/2010
18:12
Ir4850 - yep, could be the final roll call!
targatarga
26/5/2010
17:42
Thanks tt. Not hopeful for my small "investment" here as a result of Dowgate takeover.
lr4850
26/5/2010
17:34
Ir4850 - the vaughn brothers first appeared in the 90's with the old explaura holdings.. Explaura was a high risk mining play intent on the extraction of high grade limestone from northern Canada. Unfortunately the brand new equipment couldn't withstand the harsh winter weather. A name change then occured and a raft of other small businesses were spun off [gander river became gander holdings, berrisford , london listings and hercules property services sic]. So explaura then changed it's name to mountcashel and invested in small companies like cantab pharma, xenova etc. These went from 50p approx to approx 950p at their peak during the dot com era. The main man was Oliver Vaughn with his brother riding shotgun. Mountcashel drifted down with the market and changed direction again and thats how we became Blue Oar/Astaire...hope this helps...
targatarga
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