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Share Name Share Symbol Market Type Share ISIN Share Description
Auction Technology Group Plc LSE:ATG London Ordinary Share GB00BMVQDZ64 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -22.00 -1.82% 1,190.00 1,186.00 1,190.00 1,224.00 1,176.00 1,220.00 122,678 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 34.5 -22.6 -1.0 - 1,190

Auction Technology Share Discussion Threads

Showing 1001 to 1021 of 1075 messages
Chat Pages: 43  42  41  40  39  38  37  36  35  34  33  32  Older
DateSubjectAuthorDiscuss
23/7/2012
12:56
A fairly decent case study for the forthcoming 'Directors From Hell' style website. Some good research too Silkstag - one has got to wonder in light of your findings concerning the liabilities whether the RNS mentioned above was intended to be deliberately misleading.
loverat
23/7/2012
12:51
RC have appointed Administrators to push through the tech siphon to their backed companies. This is exactly what they did on Plowman Craven & Associates Ltd. Nomad resigned. Shares will be delisted within one month at latest.
silkstag
16/7/2012
16:26
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."
bozzy_s
16/7/2012
16:24
Big lessons learnt here. I hope some of the 'Silkstag bashers' are still watching. Add the names of the BoD, who are buying the profitable elements of this company for peanuts, to the 'do not touch with a bargepole' list. Anyone know if this Winks character has robbed shareholders of any other companies?
bozzy_s
16/7/2012
15:53
Gents, exactly as expected, subject to shareholder approval: 1) Adventis has sold bChannels £500,000; Second2 £750,000 and Property £10,000. 2) The buyers of bChannels and Second2 are controlled by RCapital. The subsidiary management also have shares. 3) That £1.25m is less than the £1.5m owed to RCapital. 4) All of the £1.25m goes in a loop back to RCapital. That leaves Adventis owing RCapital £0.25m. 5) £511,000 out of £1.4m earnout liabilities to management are wrapped into the deal. It apparently implies the £0.9m balance is written off but the RNS is not explicit [probably just poor drafting] 6) No metnion of earnout liabilities being wrapped into the Second2 deal. Maybe as its operating profit collapsed from £742,000 in y/e 31-12-2010 to £155,000 in y/e 31-12-2011. 7) Outrageous breach of AiM Rule 10 for Winks/Pearson to conceal that profit-collapse disaster from the market in their 10-5-2012 RNS when they said "We have two profitable and highly promising technology businesses which will now have to be sold to pay this historic [bank and vendor] debt. We believe that these businesses should be sold for an amount that is greater than that owed to the bank" 8)Unsecured creditors left in Adventis Group plc and its remaining subsidiaries are in huge trouble. They may get a % in £ recovery from any remaining debts if not all taken by RCpaital. 9)The directors finally admit that ATG shareholders are stone-cold-dead "the Directors now consider there is no value in the Company's ordinary share capital." 10) I infer that there will be an EGM in the next month and presumably that meeting will also approve the company being placed into insolvent liquidation straight after the transactions are approved.
silkstag
29/6/2012
16:06
The Adventis duck's life has apparently been tortured and shortened by acts of bestiality by its Directors. Not sure I have ever called someone a dirty-duck-fuc*er. Further, such acts apparently continued post mortem hence a dirty-dead-duck-fuc*er. The Insolvency Act calls that Wrongful or Fraudulent Trading. Lets see what happens to trade creditors whose liaility arose during the past 1-15 months. I predict they will only receive 25-50% of what they are owed. If so, they may feel they have been a victim of rapey-dirty-dead-duck-fuc*ers. Clearly, if such creditors are paid in full, then no such allegation can be made. The 2011 Adventis accounts, if ever published, will disclose the net asset deficit, the scale of unsecured creditors and what fees directors received. Then maybe we can revisit these topics. I note that we will pass 30 June 2012 without the 2011 accounts published, the Adventis shares suspended and a 13 June RNS including "It is now clear...net proceeds will almost certainly not be sufficient to repay in full the Company's bank debt and other liabilities and therefore the Directors consider that it is probable that there is no value in the Company's ordinary share capital...Directors will reconsider the position taking account of the ability of the Company to pay all creditors which will include consideration of an insolvency process". Horror signs for unsecured creditors. We need to see how the facts outturn to assess if Stinky Winks and Porkies Pearson are, or are not, 'rapey-dirty-dead-duck-fuc*ers' under s213-214 IA 1986.
silkstag
29/6/2012
14:43
Ducks die in many ways. Some just fall out of the sky. Some of them cease to be in a BOOOOM!! and a red mist and cloud of feathers. Others fly more and more slowly, then land for a rest, waddle a bit, and sit down. Gradually the eyes close and the head sinks onto the downy back. It takes a while, but eventually observers get suspicious. Someone may take the duck's temperature and discover that it's stone cold, and deduce that it is not going to move again. In this case, the exact moment of death can not be ascertained, but it remains indisputable that it is a dead duck.
arf dysg
28/6/2012
11:24
27howard, I don't see how. Expect tech goodwill and key assets to be sold to a company backed by RCapital on the day an Administrator is appointed. Then he will collect any remaining debts and get the Court to allow him to act as liquidator. Expect liquidation deficit ballpark -6p per share. Unsecured creditos getting 25-50p in £. Could be worse if RCapital really mutilate them in the above pre-pack Administration. This seems to be a long way away from shareholders getting anything other than 0p. Need to have a miracle which generates £3m extra cash. Adventis looks like a duck lying on its back, doesnt quack, so I infer its a dead duck.
silkstag
27/6/2012
22:53
I had 100k of these, tiny punt, is there any hope left ?
27howard
26/6/2012
22:42
Do those main insiders have other Directorships?....
diku
26/6/2012
18:09
SS has inspired me to not be such a banana and research more before buying, rather than after...ahem
alexi5
26/6/2012
18:09
Gents, thanks to all. "If ever published I expect the accounts to show: a) 2011 loss ballpark £10m (best case £8m loss); b) Consolidated Group net liabilities ballpark -£3m. Hence about -6p per share liquidation deficit, made worse by liquidator and other fees. Maybe they will never be issued but instead Porkies Pearson will sign a Statement of Affairs and hand it to an Administrator, who will sell the Tech division assets to a company backed by RCapital". I am waiting to compare the numbers to Winks/Pearson 20-1-2012 and 10-5-2012 RNSs!
silkstag
26/6/2012
16:38
Justified praise for SS from Lucian Miers. Hope you made a decent profit on your excellent research SS.
bozzy_s
26/6/2012
15:55
As predicted by Lucian Miers. He's getting a good track record together now http://sharecrazy.com/beta/daily/7207/adventis-dead-as-predicted
windass
26/6/2012
15:29
Arf, if Winks/Pearson had managed to sell tech for £1.5m to pay off the bank then the 10-5-2012 RNS was still a lie. In truth on their scenario they would appoint a liquidator due to say £4m unsecured liabilities (which they concealed), so would not ask for an 'investing policy'. They also omitted to mention the existence of these other net liabilities, which is deceit and sharp-editing (hence also a lie). Winks/Pearson expressly lied. Also your post implies it was my quote which it was not. It was Winks/Pearson 10-5-2012 RNS. ps If Winks/Pearson had sold tech pre administration then it would have been deemed an investment company under AiM Rule 15 having sold (substantially) all its trading business activity. But under AiM Rules Schedule 4 (f) and (j) the circular to shareholders would have to had stipulated the "effect on the AiM company". Since it would be instant lioqudation, it was a lie for Winks/Pearson to suggest on 10-5-2012 "would seek shareholder approval for an appropriate investing policy". That created a false market in ATG shares as some punters, not realising Winks/Pearson were deceit peddlers, might have inferred the Directors were talking about a solvent future for ATG - which would not take place even on the scenario the directors specified (and they couldnt even deliver that).
silkstag
26/6/2012
14:02
SilkStag (461) "sale of the Technology division will realise sufficient funds to more than satisfy the LBG bank debt...If this were to be the case, the Company would become an investing company as defined in the AIM Rules " This could have been more weasly wyrds. What if the rules say things like "no ongoing business, no assets... defines an investing company" ? That particular rule might not mention the existence (or otherwise) of liabilities, since other rules would handle the case of a bankrupt company. In other words, having sold the tech. division, ATG could well theoretically be an investing company (no tangible assets, no ongoing revenue). Winks & Person would of course have accidentally forgotten to say that that would be completely irrelevant because of other issuess, like for example just happening to be bankrupt.
arf dysg
26/6/2012
14:00
SilkStag I see, so Tsb take a hit but the new "bailiffs" want the full amount still, you would think they would be happy with half and give the company a chance but i guess not ?
345654
26/6/2012
12:37
Loverat, thanks. Stinky Winks and Porkies Pearson may try one or two more pre-Administration fibs but their problem is the auditors can see the dire facts on the tech sale offers so as posted above "I expect the auditors to refuse to let them falsely over-value the goodwill again (which was apparently their plan)". That may explain why they repeatedly failed to issue the accounts: 20-1-2012: "The Board...results...year ended 31 December 2011 which is expected to be released in April 2012". 10-5-2012: "The Company expects to release its preliminary results announcement for the year ended 31 December 2011 in early June 2012". 13-6-2012: "The Company is working with its auditors...year ended 31 December 2011...expects to release its final year results shortly". 26-6-2012: "the Company will not be in a position to publish its audited accounts for the year ended 31 December 2011 ("Annual Accounts") by 30th June 2012 as required under AIM Rule 19. The suspension, which commenced at 10.00 a.m. today, will remain in place until the Group's Annual Accounts have been announced and posted to shareholders. A further announcement will be made in due course". If ever published I expect the accounts to show: a) 2011 loss ballpark £10m (best case £8m loss); b) Consolidated Group net liabilities ballpark -£3m. Hence about -6p per share liquidation deficit, made worse by liquidator and other fees. Maybe they will never be issued but instead Porkies Pearson will sign a Statement of Affairs and hand it to an Administrator, who will sell the Tech division assets to a company backed by RCapital. ps 345654, your post 462 asked "What if the debt was sold on for a fraction of the total amount...on maybe 10-20%, then would that give ATG hope". No. Adventis still owes RCapital the full face value of the £1.5m debt, which they will use to grab debtors, thereby increasing the loss faced by the unsecured creditors.
silkstag
26/6/2012
10:14
Well, as expected. I think on this one it is fair to say folks had fair warning. This company and directors may be being featuring on a planned website coming soon hopefully. SilkStag - I might ask you for some help in compiling a case study.
loverat
26/6/2012
09:07
lol andrbea 26 Jun'12 - 09:05 - 115337 of 115338 kenv 66% think this used to be mss mss thread said once: saud2237 6 Jun'12 - 17:14 - 2556 of 2565 Just spoke to someone from the City and apparently there may be some link up between leeds resources and kennedy venture. Peter Redmond is
345654
26/6/2012
08:57
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 ?
345654
Chat Pages: 43  42  41  40  39  38  37  36  35  34  33  32  Older
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