Avanti Capital Share Discussion Threads

[kibtf] 30/11/2003 05:36

Nedrauk, as a nominee the shareholder should be the nominee co, and your shares aggregated with the shares it is holding for other clients- which should get above the minimums and result in no net change (although how each nominee co will decide who losses the odd shares on a round up will be interesting).
Unless i am missing something this should only really be relevant to shareholders on the register- ie those holding direct.

[loinerscum] 30/11/2003 00:51

Well stop moaning and get a better nominee service that does let you vote!
Andy

[nedrauk] 29/11/2003 22:02

I currently hold 333 shares. That means I'm 27 short of getting 2 "consolidated shares" and then back to 360 new ones. I can't buy 27 at Barclays and don't really want to buy 207, putting me on 3 "consolidated shares" and eventually 540 new ones.

As it happens, I'm not nursing too great a loss on these, but resent being forced out in this manner. I bought 10,000 not long ago to average down. Quite a lot of shareholders will have less than 180 and will be forced to lose any chance of regaining value. The RNS talks about giving value to shareholders, but that's frankly a lie.

I was hoping to set up a pair of trades via Barclays to get round the problem, with a little extra outlay, but according to the website I hold zero shares!! Is the stock suspended?
I intended to sell 153 (that's my holding avove 180) then buy back 180, effectively buying the extra 27 needed that way. If I can't do this, I'll effectively be cut back to 180 shares with a cash sum for the residue.

I have mailed the addresses on the Avanti site pointing out that they could easily service the shareholders VIA THE SITE! That would cut their costs drastically and NOT generate all the ill feeling.

A lot of people are going to lose considerably if this is passed! As a nominee I'll not be able to vote!

Patrick K. Murphy

[grahamburn] 29/11/2003 18:34

It's worse still....

Even holders in excess of 180 seem to be on a hiding to nothing. Appareently, according to the registrars, if your holding is not divisible by 180, then any excess (hold 266) is taken off you and sold in the market with the proceeds being returned to you (less 0.5%) and you are left with just 180 (new) shares. Suppose the same happens even if you hold more shares.... In short, even larger small holders are being made into newer smaller holders. Wonder when they will try the same again until everyone apart from very large holders are vanquished.

[bekenuk] 29/11/2003 14:46

I have sent an e-mail to( bbc.co.uk/workinglunch )to see if they could shed some light on the legality of this move by ava to rid itself of the small invester.Perhaps if a few more of you did the same they might consider it worth there while looking into it.

[bekenuk] 28/11/2003 12:04

I held 3000 shares in e-cap which became 50 in ava now its going to ? Im not moaning at losing, so much as the way I am being robbed by the CROOKS running the company. Good luck to the ones sticking with it,but I feel that you are all cruising on the Titanic.
Ken

[wotsadividend] 27/11/2003 23:42

Laxey are in for a fight. Vote no and sell the f@@@ing lot tomorrow. I have sold all my stock today and want to see the b@@@@rds in court.

[ihatemms] 27/11/2003 19:22

Surely this must be illegal under company law - is there anybody out there with a company law back-ground who could check this out- otherwise what's to stop evey majority shareholder in any company doing the same thing and making a killing for themselves - they could even do a 10,000 to 1 consolidation and shake-out 100% of all small shareholders.Seriously p£££ed off!

[ihatemms] 27/11/2003 19:20

Surely this must be illegal under company law - is there anybody out there with a company law back-ground who could check this out- otherwise what's to stop evey majority shareholder in any company doing the same thing and making a killing for themselves - they could even do a 10,000 to 1 consolidation and shake-out 100% of all small shareholders.Seriously p£££ed of!

[no 1 the embankment] 27/11/2003 18:37

It will get rid of a lot of the small share holders, just look at to days trades nearly all small sells. It's what they want.Not sure how legal it is though ? You have the oppertunity to vote against it, sell, or hang on in.

[growbag] 27/11/2003 13:02

IT IS PROPOSED THAT EVERY 180 EXISTING SHARES OF 60 PENCE BE CONSOLIDATED AND REDESIGNED AS 1 ORDINARY SHARE OF £108 EACH. UNLESS YOUR HOLDING IS EXACTLY DIVISIBLE BY 180,YOU WILL BE LEFT WITH A FRACTIONAL ENTITLEMENT TO THE NEW REDESIGNED ORDINARY SHARES.THESE WILL BE AGGREGATED AND SOLD IN THE MARKET ON YOUR BEHALF AND WHERE THE AMOUNT OF THIS IS OVER £3 THE PROCEEDS WILL BE RETURNED TO YOU, LESS TAX AT .5%. PROCEEDS OF LESS THAN £3 WILL BE KEPT BY THE COMPANY TO PAY EXPENSES.

IN ORDER TO AVOID THE CONSOL HAVING A DETTRIMENTAL EFFECT AND AVOID CONFUSION THE BOARD PROPOSES TO REORGANISE FURTHER BY DIVIDING AND REDESIGNING EACH OF THE NEWLY CREATED ORDINARY SHARES OF £108 EACH INTO 180 NEW ORDINARY SHARES OF 60P.

NEW CERTS WILL BE ISSUED FOLLOWING THIS AND YOU CAN TRADE INBETWEEN TIMES ON OLD CERTS.


- So if you have less than 180 shares you are going to be forced to sell them. If you have more than 180 shares nothing will change since they will be converted back into 60p shares. What a bizarre series of events!

[wotsadividend] 27/11/2003 09:31

Best post on the subject for years, Andy. Nice one.

Totally agree, after yesterdays announcement I was taken aback and feel also that it is the first of many to get this sorted.

Good old IOM, Get that wheel turning, churn up the price and then we can all get out of this with a bit less of a loss, why not as you say buy more to average down. Risk = reward, IMHO.

Kind regards
Rich

[banj] 27/11/2003 07:22

thanks but no thanks Laxeyscrum

[loinerscum] 27/11/2003 01:10

A month ago I commented on the irrational pessimism regarding this share and the stake taken by Laxey Partners at £1.56/share (2.6p before consolidation)

Since then the board have taken on Collins Stewart as Nominated Advisor & broker, a firm with a sucessful track record of getting things done.

Laxey are frankly a bunch of money grabbing barstewards, but then again aren't we all? They seem to find a target, develop a strategy, "persuade" the board to see things their way and finally seek a profitable exit route. I have no idea what exit point Laxey have in mind, but I'm sure in my own mind that they wouldn't even come to the table without the prospect of a 50% gross return on investment. If I am right that would be £2.34 per share (3.9p before the 1:60 consolidation).

So why all the whinging. If you hold less than 180 shares frankly you should either thank the company for what should be a relatively cheap way to exit one of the finer turkeys in your collection. Alternatively follow the Laxey approach and buy more shares, the offer is currently £1.55 so you can get in on the action at the same level as the "inside" boys.

Stop moaning, either invest in more shares or accept the humane bullet in the head. And before you moan about your losses, I have held continuously since Cambury days and bought ECI shares at 20p+. Things have changed and you are backing a team playing to win rather than a team wanting to follow fashion and collect their paychecks.

One final thought, Aspinal & Bilton have the majority of their interest in warrants that expire in August 2004, don't you think they want the price to rise making conversion profitable?

Think on, you have a chance to back the winning team here, don't be a loser again for the sake of bloody mindedness.

Cheers
Andy

[loinerscum] 27/11/2003 01:07

A month ago I commented on the irrational pessimism regarding this share and the stake taken by Laxey Partners at £1.56/share (2.6p before consolidation)

Since then the board have taken on Collins Stewart as Nominated Advisor & broker, a firm with a sucessful track record of getting things done.

Laxey are frankly a bunch of money grabbing barstewards, but then again aren't we all? They seem to find a target, develop a strategy, "persuade" the board to see things their way and finally seek a profitable exit route. I have no idea what exit point Laxey have in mind, but I'm sure in my own mind that they wouldn't even come to the table without the prospect of a 50% gross return on investment. If I am right that would be £2.34 per share (3.9p before the 1:60 consolidation).

So why all the whinging. If you hold less than 180 shares frankly you should either thank the company for what should be a relatively cheap way to exit one of the finer turkeys in your collection. Alternatively follow the Laxey approach and buy more shares, the offer is currently £1.55 so you can get in on the action at the same level as the "inside" boys.

Stop moaning, either invest in more shares or accept the humane bullet in the head. And before you moan about your losses, I have held continuously since Cambury days and bought ECI shares at 20p+. Things have changed and you are backing a team playing to win rather than a team wanting to follow fashion and collect their paychecks.

One final thought, Aspinal & Bilton have the majority of their interest in warrants that expire in August 2004, don't you think they want the price to rise making conversion profitable?

Think on, you have a chance to back the winning team here, don't be a loser again for the sake of bloody mindedness.

Cheers
Andy

[growbag] 26/11/2003 18:02

Typical disregard for holders of small shareholdings - I think I hold around 1500 now (some 80000 prior to the consolidation). I've no idea what they are proposing. Presumably the idea is to just purchace back small holdings below a certain threshold - at current market value? A kind of compulsory purchace order. Tough on people who spend a load of their hard earned buying the shares at 30p + If so that is disgraceful - clearly Laxey and the Board have other plans regarding the future of the company - though this probably comes from Laxey - being a sizeable shareholder. They're probably looking to clear the decks and break-up the company to release asset value.

A case of tryanny by the majority that's for sure (and I like the way the announcement unsubtely lets you know that you can protest all you like but it's already a done deal now the Directors' new friends - Laxey - are calling the shots in the playground).

I think the Board of this company should be herded into a narrow dark alley and beaten senseless (sorry, oxymoron - assumes a Cambury/ECI/VEO/Avanti Director has any sense).

They are basically the stock market equivalent of a cowboy double glazing outfit.

Appaling incompetence year after year (VEO?), name changes every six months - always acting in their own interests. Need I go on.


W%@K$RS !

[canscott] 26/11/2003 10:35

Well, looks like we may be 'sold' something interesting here?

>>>>>>>>>>>>>>>>>
LONDON (AFX) - Avanti Capital PLC said it is seeking shareholders approval
for its proposed share consolidation and reorganisation at an EGM on Dec 12.
In a statement, the company said the overall effect of the reorganisation
when completed, will enable the company to reduce the substantial costs of
servicing a share register containing over 12,000 shareholders holding less than
180 shares each.
[e-mail]
ra
>>>>>>>>>>>>>>>>>>>

After the last consolidation, many holders would have been forced below 180 shares in my view. I wonder if this new measure was being planned all along?

It would seem that many shareholders will now completely loose any chance of regaining the lost value from their holdings; from the e-Capital days.

If so, THANKS Avanti ex e-capital, a bunch.

[mart] 10/11/2003 17:09

gb
You bin reading too much about the royals then?

[todworth] 07/11/2003 17:31

got my new ava share certificate in the post to day, might just lite the fire
with it this evening then open a bottle of wine...

[wotsadividend] 05/11/2003 21:19

Yes, allegedly get used to some insider dealing and share ramping from here on in. Nothing different there then. HA HA !

[growbag] 05/11/2003 12:01

Any significance to the appointment of Collins Stewart as the advisor?

[kpe] 05/11/2003 10:02

For anyone who is interested in reading about our major share holder.