Avi Global Share Discussion Threads

[harry punter] 16/5/2005 09:15

hobo-- i am very happy to help give evidence against these directors and bring up further charges -- they should all at very least be disqaulfied as directors

regards harry and all the aggrieved boys and girls who hold argonaut worthless paper

[hobo66] 16/5/2005 09:05

Just caught up on this thread & it looks as though the AG is frozen. With no distribution to shareholders now does anyone know if the DTI are still looking at AGT or is it fair to assume the file is now firmly closed.

[rawli] 07/3/2005 18:51

Received this today :-

Dear Mr Rawlinson

ARGONAUT GAMES ORD GBP0.01

We write with regard to your above holding and advise you that Liquidators were appointed on 23rd February 2005. The liquidators have announced that no distribution to shareholders will be made.

You may, therefore, wish to apply to the Inland Revenue Shares Valuation office for a ruling that any shares you hold be declared of negligible value for the purposes of a claim under section 24(2) of the Taxation of Chargeable Gains Act 1992.

The liquidators have requested that the shares be de-listed on 31st March 2005. If you have any questions, please do not hesitate to contact us by e-mail: [e-mail] or telephone [phone].


Kind regards
Peter Orsi
Manager Corporate Actions Department

[harry punter] 23/2/2005 16:55

thanks jacko i remember your earlier line on this--i saw the weakness and sold my own stock at a huge loss so it wasnt a total write off for me --but some friends and clients are still left holding major holdings through charles stanley ---san was never open and up front and this is why the prudential and the city lost patience with him --with better financial controls and a finance director this could have been avoided --

[bigjacko] 23/2/2005 16:39

Sad to hear, Harry. I've gotta say, this is precisely why I would never invest in Argo, all those times you tried to get me to ;-) I've seen these guys close-up, remember, and I know the business and the industry. It's a sharkpit at the best of times, and a suicide run, at worst.

I have, during the three years I worked at Argo in the early nineties, watched Ronnie (Jez's dad) repeatedly bale the company out to the tune of millions, from his personal funds, when things got tough. He alone help them make it through the rough times (which, all things being said and done, were not usually of Argo's making).

It would seem that situation has persisted, even into public ownership - and while I am saddened, I can't say I'm surprised or shocked. We always used to seem like we were paying for the last project's salaries out of the newest deal's income, and always getting screwed on royalties by publishers, or messed around, squeezed, and forced into tight corners so we would accept cut-throat deals from publishers on new projects.

Plus ca change.... :-(

[harry punter] 23/2/2005 16:26

all resolutions were passed --good luck gazza --san claims he tried to save the company --i dont believe him as i have checked his earlier statement and have discovered today that he lied --he said he spoke to john adams at charles stanley about raising finnance -according to john adams this conversation never took place --so there you have it ??

[gazzastrip] 23/2/2005 15:49

So what resolutions were passed harry? is it now a dead parrot?

My legal adviser tells me that any claim for losses will now need to be made against the current and former directors!

Hello San are you ready for us!

[gazzastrip] 23/2/2005 15:47

Ive done it with other stock that have gone bust,so it can be done.

It might be better to offset capital gains anyway,but i dont have any as i am stupid enough to pick companies like argonaut!

[rawli] 23/2/2005 15:42

Checked Inland Revenue website and it still doesn't make it clear unless you are full time trading. I will speak to my accountant then again it doesn't matter as I have a big CGT problem with SEG at present so it will help!

Andy

[gazzastrip] 23/2/2005 15:39

A complex area Rawli.

Ordinarily losses from shares can only be offset against other capital gains and only any good if you have gains in excessof the annula allowance.The losses can be carried forward though.

However,through what appears a relatively unknown revenue rule you can sometimes offset losses against income tax (and thus are more likely to be able to use them).

The revenue keep a list of what they regard shares of negligable value. Full details are contained on the revenue website if you want to follow up.

Any tax advisers/accountants on here may wish to comment or confirm my understanding?


good luck

[rawli] 23/2/2005 15:13

Gazza can you ofset this against Income Tax or just CGT ?

Andy

[harry punter] 23/2/2005 15:11

hi jacko its all over ---a bad experience --a bad investment --bad advisers like crilly,beesons etc could have prevented this situation ---it didnt happen --so move on just myself and fast freddy were there at the funeral and the last rites --not even coffee and biscuites -tight gits lol ---what i learn't that argonauts did try raising finance at the end and san was prepared to put up one million to keep the show on the road

[gazzastrip] 23/2/2005 15:07

Oh well, another share write off. At least the revenue should agree it as being of "negligable value" and allow me to offset against income tax-that way i get back more than a couple of pence anyway!

[harry punter] 23/2/2005 14:55

its over gazza ---a bad experience --a bad investment --bad advisers like crilly,beesons etc could have prevented this situation ---it didnt happen --so move on just myself and fast freddy were there at the funeral and the last rites --not even coffee and biscuites -tight gits lol ---what i learn't that argonauts did try raising finance at the end and san was prepared to put up one million to keep the show on the road

[bigjacko] 23/2/2005 14:54

You are joking Harry, please tell me?

I didn't go because I'm not a shareholder (and Jez knows this, and probably would have asked me to leave). But I was kinda hoping someone could tell us what happened, and what was discussed.

Did you go Harry? What came of it?

[gazzastrip] 23/2/2005 14:48

Did you attend Harry? if so please let us know what went on,was either Sans there?

I did intend to go,but i am busy at work and the venue wasnt exactly accesible for me. I am also coming to the conclusion that there is little to be gained from spending more time on this,unless Lawyers are appointed and/or the action group really have unearthed something to go with?

[rdpounder] 20/2/2005 20:16

Dani14, it was Roger Lawson's help, having given us affiliation to UKSA (not something they do "willy nilly"), that helped us make the press release which lead to the magazine new items I refer to. The quote was one of Roger's direct statements with regard to our group, made for the article in Investors' Chronicle. It's not in UKSA's best interest to publically be affiliated with groups that are without any true foundation.

If you are a shareholder in AGT and you don't feel we have a case, then fine, move on, best of luck to you.

[dani14] 20/2/2005 19:41

RdP - your post number 78 - " "We support action groups that we feel have a good case", so we have their support. "

That doesn't follow. What makes you think that they feel we have a good case ? Have they reviewed our evidence ? What actual evidence do we have ? All they say is they support those they feel have a good case. They don't say they support us. Pretty non-committal I would say.

[rdpounder] 19/2/2005 13:03

(Duplicate deleted)

[rdpounder] 19/2/2005 13:02

dell314, weren't the articles/news items in Shares Magazine and the Investors' Chronicle public enough for you? We have put considerable effort into writing individually to over 600 private shareholders in AGT, not to mention many more contacted via their brokers after we contacted 16 brokers to get them to write to nominee holders on our behalf. This has all been personally financed and implemented. Through gaining an affiliation with the UK Shareholders' Association we were able to make a press release that went to about 60 press contacts. Roger Lawson of UKSA has publically stated with regard to AGSAG that "We support action groups that we feel have a good case", so we have their support. We are currently working on a detailed update which will go to all our members, currently about 170, and rising by the day.

If you have any suggestions/contributions then please let us know....
[e-mail]

[dell314] 19/2/2005 12:49

Can anyone explain to me the point of an "invisible" action group??
It would appear to fall into the same category as chocolate teapots, and ashtrays on motorcycles...

I'm all in favour of any group that aims to prevents directors lining their own pockets at the expense of shareholders, but I fail to see how it can achieve much without rallying public support. The AZH/RSV mob were continuously making waves and getting coverage...

Good luck, anyhow..

Rgds
dell

[rdpounder] 19/2/2005 12:10

So Harry, how will you be voting at the EGM? (assuming you're a shareholder of course) And what about your "boys in dark glasses"?

[harry punter] 17/2/2005 13:47

still leaves the listing ?