Astaire Group Share Discussion Threads

[tomboyb] 28/6/2011 13:45

Should read this - I'm not impressed and i HOPE History will not reapeat itself.



Izodia has been investigated by Serious Fraud Office after £34 million went missing in 2002. Both Vandyk and Chris Roberts(pictured below) joined the board of Izodia that year after building up stakes in the company when Izodia's share price plummeted from the highs of around £14.50 to less than £1. Institutional shareholders (who made 70% of the share register) wanted the company wound up but others, such as Vandyk and Roberts, saw an opportunity.

[tomboyb] 28/6/2011 13:25

They should simply return capital to shareholders as previously envisaged. The question i have is that "will this be ANOTHER IZODIA moment"?

I think shareholders have suffered enough!

[ukmassy] 28/6/2011 13:22

Can only buy £15 worth on Halifax at the moment.

[tomboyb] 28/6/2011 12:39

I think a lot of shareholders are probably annoyed with the change of tactics - the orignal intention - Return excess cash to shareholders

Why the sudden change in heart - imho could it be that the outcome of the litigation was more favourable than expected as i say speculatively.

At 1p its 100% upside potentially -

[acquisitor] 28/6/2011 12:39

Well - if I had the money, I would buy the 53% stake held by Evolve. Anyone want to chip in?

[philmar089] 28/6/2011 12:34

sell 0.80 buy 0.85

[hazl] 28/6/2011 12:33

but if it cancels its aim listing......? dyor
dangerous surely?

[double6] 28/6/2011 12:33

EVOL - still only 20%!

[ihuk dyor] 28/6/2011 12:33

The big risk of ASTR despite the wedge of cash, is the upcoming delisting. If the company doesn't return cash to shareholders it could be a long wait to realise any gains. It shouldn't be allowed to delist.

[acquisitor] 28/6/2011 12:32

No it was .33p. The trade that went through wasn't mine. Most of the dealing for this goes through PLUS, where prices are better. My average price for my 2.5m shares is about .45p. My SIPP is doing very well!

[philmar089] 28/6/2011 12:31

topinfo on the rise again what do you think this wiil reach

[ihuk dyor] 28/6/2011 12:30

IHUK £2m cash at interims, and net tangible assets i.e NOT goodwill etc, of £4.5m. Add whatever they've made in H2, say £0.15m, plus what they've made since Year End, say £0.1m. Gives closer to £5m in NTAV.

[topinfo] 28/6/2011 12:26

This is cash not assets, big difference!

[ihuk dyor] 28/6/2011 12:24

IHUK next to do an ASTR. Finals due any day now. £1.4m cap vs £4.5m net assets. Profitable. £6.5m of tax losses on balance sheet.

[topinfo] 28/6/2011 12:24

I bet Mr 1.47 million seller bit annoyed with himself now! lol

[topinfo] 28/6/2011 12:16

Didnt you pay 0.4p?

[acquisitor] 28/6/2011 12:15

I have a million I bought yesterday at 0.33p for sale. Anyone offer me 2p per share?

[pre] 28/6/2011 12:08

5 bagger from here then ....they'll only allow you to buy 1k on line atm!!

[double6] 28/6/2011 12:06

ASTR 80% - EVOL 7%

[tomboyb] 28/6/2011 11:59

Well anyone investing now should know BOTH options - what annoys me is that initial intention was always option one - now with the litigation results suddently option 2 transpires! Which is why in my humble opinion i said "do not let this be an Izodia moment"!!

[double6] 28/6/2011 11:57

Option1 ....

£2mln to EVOLVE ???

[topinfo] 28/6/2011 11:54

Well I would rather take option 1 and not option 2.

[double6] 28/6/2011 11:54

EVOLVE now 7% ....still another 60% to go at least!

[tomboyb] 28/6/2011 11:49

There are only 2 options here -


1. 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

Which equates to some value for investors -


2. As announced last week, 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.

Which means imho - pi$$ing in the wind!

[tomboyb] 28/6/2011 11:46

Astaire considers its future after another loss
28 June 2011 | 11:27am
StockMarketWire.com - The loss after tax at Astaire Group for the year ended December 31 2010 from all operations was £7.7m., compared with a loss of £7.3m. in 2009.

The loss after tax from continuing operations increased from £0.45m. in 2009 to £2.9m. in 2010.

Following the sale or commitment to sell all of the operating businesses and subsequent reclassification of the income and related expenses as "discontinued operations" the Board has concluded that the use of underlying result before tax as the comparative measure and indicator of performance is no longer appropriate and has therefore ceased to use it. On this basis there is no analysis of trading performance other than the result before tax.

The company accepts that this was a very poor year for Asaitre.

As a result loss of confidence by clients and staff in the operating businesses, the Board concluded that it had to end the previous strategy of pursuing consolidation in the financial services industry and, instead, focus on disposing of the operational businesses of the Group.

The company has now disposed of Astaire Securities, Downgate Capital Stockbrokers and Rowan Dartington.

This means that Astaire 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 last week, 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.

It says that were such a strategy to be implemented it would mean that rather than seeking 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.

At 11:27am: (LON:ASTR) share price was -0.02p at 0.31p