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ATG Auction Technology Group Plc

566.00
2.00 (0.35%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Auction Technology Investors - ATG

Auction Technology Investors - ATG

Share Name Share Symbol Market Stock Type
Auction Technology Group Plc ATG London Ordinary Share
  Price Change Price Change % Share Price Last Trade
2.00 0.35% 566.00 16:35:27
Open Price Low Price High Price Close Price Previous Close
576.00 559.00 576.00 566.00 564.00
more quote information »
Industry Sector
SOFTWARE & COMPUTER SERVICES

Top Investor Posts

Top Posts
Posted at 16/5/2024 14:19 by niggle
Amazing how news leaks out before the poor retail investors get to know isn't it?
Posted at 16/7/2012 16:26 by bozzy_s
Hopefully someone will go to prison for this lie just 2 months ago:

"Having tried, unsuccessfully, to persuade investors to back our efforts to raise new equity to pay down both bank and vendor debt, we are now working with our bank to find an alternative solution. We have two profitable and highly promising technology businesses which will now have to be sold to pay this historic debt. We believe that these businesses should be sold for an amount that is greater than that owed to the bank."
Posted at 26/6/2012 08:57 by 345654
SilkStag

What if the debt was sold on for a fraction of the total amount, usually banks
sell basket case debt on maybe 10-20%, then would that give ATG hope, just trying
to work out why people are buying the stock although it is probably penny share
gamblers than serious value investors ?
Posted at 19/6/2012 17:44 by saud2237
silk - speak to the CEO of the company. I am just passing on what was said on 10th of May

Nick Winks, Chairman, commented


"Having tried, unsuccessfully, to persuade investors to back our efforts to raise new equity to pay down both bank and vendor debt, we are now working with our bank to find an alternative solution. We have two profitable and highly promising technology businesses which will now have to be sold to pay this historic debt. We believe that these businesses should be sold for an amount that is greater than that owed to the bank. "
Posted at 13/6/2012 14:06 by bozzy_s
Good call silkstag, bad luck to genuine investors, up yours to rampers and pump and dump artists. Another case of the inevitable happened but rose-tinted glasses prevented some from seeing the bleedin' obvious when presented by a white knight on this BB.
Posted at 12/6/2012 19:31 by akaaur
silkstag look at your posts, you keep i did this i did that when its all copied, your talking about things being covered up, why dont you just send all this to the fsa,

it clearly shows what you doing here, if you care for us investors that much post this tricks being used to fsa, and let them deal with it
Posted at 11/6/2012 21:22 by rachit7
when you look in again silkstag can you explain to the traders/investors here why you said the company would be de-listed if accounts were not published by june 7th??? we are all anxious to know how you got that one wrong

you were openly advising users of this bb to dump ATG before the 7th june were you not? i would say that needs explaining too...?
Posted at 11/6/2012 13:43 by silkstag
27howard, I estimate that 'total liabilities' exceeded 'current assets' by about £5.5m at 30-4-2012. [The two tech subs may have been reallocated from 'goodwill' to 'stocks' within current assets, but we should ignore whatever over-valuation Winks/Pearson put on them. Those deceitful directors valued ACL goodwill at £3.25m and sold it for £0 ten weeks later].

All that is left is disposal of the two tech subs. Six obvious problems:
1) These are people businesses, ad agencies, so only ever sell on low p/e ratios.
2) Management are mainly out of lock-in so about 50% of proceeds will go to them.
3) This is a distressed sale, so ATG wont get nornal valuation.
4) Tech management will have equity in newco so are motivated to help buyer pay as little as possible
5) Bank just wants its £1.5m, frced tech to be sold and will push any deal through.
6) Operating profit tanked from £1.1m in 2010 to £0.5m in 2011. That is a disaster when you are trying to negotiate a decent exit price.

Overall, my estiamte of proceeds to ATG has been £1.6-4.0m (top of range only if 2012 is going well).

Don't forget Winks/Peasron already admitted my range was right, if you read their devious misleading 10-5-2012 RNS carefully. I have only INSERTED NUMBERS TO MAKE WINKS/PEARSON DECEIT OBVIOUS:
"Having tried, unsuccessfully, to persuade investors to back our efforts to raise new equity [at 0.5p or otherwise] to pay down both bank [£1.5m] and vendor debt [£2.5m]...technology businesses which will now have to be sold to pay this historic debt [£1.5m + £2.5m = £4m]. We believe that these businesses should be sold for an amount that is greater than that owed to the bank [£1.5m]."

Then there will be £0.5m corporate finnace fees, legal fees, nomad, management fees; then £0.5-1m fees in liquidation of parent company and all the subsidiiaries.

So, yes, the tech disposal will reduce the net liabilities down from £5.5m. But no chance of covering them. Liquidation deficit of about -£2.5m looks like best case, hence -5p per share. It could easily be -10p if the sale goes poorly e.g. drags out and the business implodes or one or more of tech management resign, to buy their business for peanuts from an Administrator (which is what will happen if Winks/Pearson or Savills/Isis mess about being too greedy).
Posted at 25/5/2012 15:00 by silkstag
Kevin, ATG is the wrong share to invest in. Paying 1p when it is worth -6p would mean it needed a £3.5m miracle just to get back to your 1p.

Nick Winks, ATG Chairman on 10 May 2012 "tried, unsuccessfully, to persuade investors to back our efforts to raise new equity to pay down both bank and vendor debt". If investors with sight of 31-12-2011 balance sheet refused to invest at 0.5p, how can you, shooting blind, think buying at 1p is an investment? It is not.

As I said, day traders can punt, but this is not investible.
Insolvent liquidation is only possible outcome.
Posted at 25/5/2012 09:58 by silkstag
Kev, punters are being sucked into ATG on the false lure of a quick turn based on dirty bull posts. The facts we know:
ATG failed to persaude investors to subscribe for shares at 0.5p.
Investors concluded there were no prosepects of exceeding the bank and net creditor debt.
10 May: "the Board believes that the sale of the Technology division will realise sufficient funds to more than satisfy the LBG bank debt [£1.5m], although there is no certainty that this will be the case".
No Board comment about the £2-4m net unsecured crediors!
Insolvent liquidation is the only possible outcome.
Sharholders will be -6p submerged under debt.
Posts by Digitalis and others talking about +xp are wrong. Seems like market manipulation by them...which is why they end with 'these are my numbers but do your own". That is a hint that they know their posted numbers are false. And deliberately so.

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