Astaire Group Share Discussion Threads

[topinfo] 28/6/2011 11:36

I knew I was doing the right thing buying these at 0.31 and 0.32 last week. Lovely move today.

[acquisitor] 28/6/2011 11:36

I bought another million Astaire at 0.33p, which is up 50% and just bought a million Evolve at 0.63p. Evolve is grossly undervalued at this price, as the share price does not reflect the value of Astaire, let alone the other investments they have.

[tomboyb] 28/6/2011 11:35

Correct - However there is also a 300% upside potentially here for newer short term investors. It entirely depends on what management want to do - do they create some value here for shareholders or otherwise (which i consider an IZODIA moment).

[double6] 28/6/2011 11:29

EVOLVE due a 60% re-rating now!

[tomboyb] 28/6/2011 11:19

Evolve Capital - you may hold 53% of the equity here but your track record and history in creating value for shareholders in terms of investing is Zilch - Zero - Nadda!

You only have to look at your share price to see that!

You simply do NOT know how to do it!

Return excess cash to shareholders where they may be able to get some value out of this debacle.

[tomboyb] 28/6/2011 11:02

ASTR have'nt done anything right in terms of relating some value to suffering shareholders - Now might be a chance to get that right! Its as simple as that

Do not let this be another Izodia Moment!

[topinfo] 28/6/2011 10:59

ASTR mkt cap 0.8m vs cash £4.5 million. Do the maths!

[topinfo] 28/6/2011 10:55

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TOPINFO - 28 Jun'11 - 11:53 - 117295 of 117296 edit

ASTR!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Cash 2p per share, and they may return it to shareholders. 0.4p paid!!! 5 bagger

[tomboyb] 28/6/2011 10:50

At 1/5th cash element - what a large discrepancy!

[targatarga] 28/6/2011 10:38

Remember the Vaughn brothers running mountcashel.... Looks like their taking us full circle... they were heavily invested in xenova, cantab etc...

[tomboyb] 28/6/2011 10:37

Overall, at 31 May 2011, the Astaire Group had consolidated cash resources of approximately £4.7 million, excluding £500,000 held by lawyers pending agreement of the settlement referred to above.

£4.2 MILL in cash - 2p per share! So calcs roughly correct.

[tomboyb] 28/6/2011 10:33

Current position

The Group no longer has any operating businesses and only has one employee, Chris Roberts, the finance director. Following the disposal of Rowan Dartington, the Group is now defined as an investment company under the AIM Rules for Companies. Its policy is to seek to return any available excess cash to shareholders, including any deferred consideration under the terms of the disposal of Rowan Dartington.

As announced on 24 June 2010 the Board was recently informed that Evolve, the Company's majority shareholder, may hold the view that Astaire should become a more active investing company and that it may wish to appoint individuals to the Board to implement such a strategy. Were such a strategy to be implemented it would mean that rather than seeking Shareholder approval for returning any excess cash to Shareholders, as previously proposed, the Company would instead be seeking to invest the cash that it currently holds, and any amounts realised from its present investments, into as yet unspecified investment opportunities with a view to increasing the value of the Company's assets for the ultimate benefit of all of its Shareholders. The Board is considering with its advisers the announcement made by Evolve on 24 June 2011 concerning this.



DON'T LET THIS BE ANOTHER IZODIA MOMENT! RETURN EXCESS CASH BACK TO SHAREHOLDERS!!

[tomboyb] 28/6/2011 10:30

Results out Not good but:

Balance Sheet

Net assets per share declined from 7.0 pence at 31 December 2009 to 3.25 pence at 31 December 2010. The main contributors to this were the trading loss from discontinued operations together with the impairment of intangibles and goodwill previously referred to and the loss on disposal of Astaire Securities Plc.

Net current assets have fallen to GBP6.8 million (31 December 2009: GBP9.8 million), of which, at 31 December 2010 GBP4 million (31 December 2009: GBP7.8 million) was represented by cash in the continuing operations (there remained cash in both Rowan Dartington & Co Limited and Dowgate Capital Stockbrokers Limited which is not included in this GBP4 million as it left the Group on the sales of those businesses).

[topinfo] 27/6/2011 23:07

The Directors I hope!

[acquisitor] 27/6/2011 22:07

Anyone actually going to the AGM?

[topinfo] 27/6/2011 10:13

AGM today.

[acquisitor] 27/6/2011 08:44

That was me I think. Couldn't buy any more.

[topinfo] 27/6/2011 07:27

1 mill buy ASTR at 0.4p thats well over offer. Someone wants 2p cash for 0.4p!!!!!!!

[topinfo] 26/6/2011 22:48

I reckon this is hot to be taken over now or reverse take-over. Going to be very interesting from now considering cash 2p per share (yep your calcs correct) vs 0.32p share price

[acquisitor] 26/6/2011 22:25

Do not forget the other thing this company has - huge tax losses that could be worth a hefty sum if either Astaire was to buy the right business (!) or be used in a reverse takeover. I own over 1% of the company, bought at an average 0.6p in anticipation of this situation (see earlier posts) and did not expect a delisting. I do not think this is in the best interests of shareholders.

I would love to know what the company plans to do after delisting. Is there a strategy? They could save a fortune by transferring the listing to PLUS.

[tomboyb] 26/6/2011 20:07

Unless someone else has calc's different - current share price = 0.325P PER SHARE

Current share price would be roughly equivalent to 1/6th the CASH levels that can be achieved!

And they want to delist after the litigation!

[tomboyb] 26/6/2011 20:03

1.Astaire Group's assets following the Sale are estimated to comprise approximately £930,000 in cash (including approximately £400,000 held within DCS, which would leave the Group on completion of that sale) -

CASH = £930K

2. CS Holdings, which (as explained above) holds a further £3 million in cash pending payment of legal fees and resolution of the litigation plus a further £362,000 (net) -

£3MILLION - 500K(litigation fees) + 362k (due over time)= £2.5Mill minimum and up to 2.86mill Maximum

3. Astaire Group's assets would also be increased by the successful completion of the sale of DCS by £675,000 (before expenses) and the further £225,000 held in escrow -

675k + 225k (Before expenses) = 900k

So Max available = 930k + 900k + 2.86 = 4.690 mill (theoretical)

Likely = 930k + 900k + 2.5mill + 362k (over time)= 4.330

205 mill shares in issue AT 2p = 4.1 (mill) -

CASH = Roughly 2p per share


Those are my calcs DYOR if you have any other calculations -

[topinfo] 25/6/2011 18:40

tomboyb-Ref Fridays RNS`s this was a reply I put to someone on CR thread who mentioned ASTR.

Mak. You are correct to a degree I must say having read them again and again and again.

However I dont ever buy something that is de-listing coz its calling in the administrators or they say like DAVENHAM (DAV) did there is no value at all for shareholders. Clearly you have Evolve here and Astaire both wanting the best way forward to maximise shareholder value, and preserve what is left after years of the stock market value declining.

Although it is quite clear that shareholders holding these from a long way up are not realistically going to recover their money in full (when you look at where the share price has fallen from that is obvious), but buying at this level which is 1/6th of the value of just the cash alone, without any other assets being sold then I reckon there is some fairly big profits to be had out of ASTR group, one way or another.

Like you say AIM doesnt give you much confidence anyway, and Im sure this story will keeping unfolding week by week, starting with Monday which is results day and the AGM to discuss such matters.

The key here is they do actually seem to be bothered about retaining value for shareholders from what is left and yes, unfortunately old investors will lose out ultimately but at this level its pretty safe to say that there is value and hopefully some handsome profits too, given cash is 2p pre share excluding other assets that will be sold eventually and share price is 0.35p.

[tomboyb] 25/6/2011 12:45

THATS A LOT OF CASH TO BE SUDDENLY DELISTING WITH - IMHO

astr and EVOL - IMHO - look at your SP's over the years and you want to delist and use the pile as an investing VEHICLE.

Current share price - 0.325P!

i hold - Return excess CASH to shareholders!

[tomboyb] 24/6/2011 16:36

That is the worry Ir4850 - Wages high fees - etc etc - and you know who won't benefit imho if these changes take place - If shareholders have'nt been decimated enough.