Azure Share Discussion Threads

[uknighted] 16/11/2004 19:43

oswd
Anomalous is THE man. Well done to him.

[oswd] 16/11/2004 19:35

Keep up the good work Anomalous, Agincourt, uknighted, eurofox and all the others that are fighting for justice, well done to you all.

[anomalous] 16/11/2004 19:18

> Vanhalen
I was reading on the NML thread that a certain poster called notready (who's been very rude to me in the past), is a bull on PRM. I wonder how much money she's lost!
he he he

[uknighted] 16/11/2004 19:18

I liked this part of the FTs Kate Burgess' report regarding short positions:

One trader says: "There is no difference between hedge funds and marketmakers in this respect. Except that hedge funds tend to trade in more liquid companies."


Now isnt JakNife something to do with a hedge fund? Hmmmmmmmmmmm
No wonder he thinks it is good practice - and so keen to defend it.

Honour amongst thieves?

[vanhalen] 16/11/2004 17:07

Poor old knitcraft



300p by xmas 2003 ???

[neilrock] 16/11/2004 16:43

Agincourt, I am inclined to agree with you however, for many months I have watched that idiot slag everyone off so now, it is my turn....

[agincourt] 16/11/2004 14:15

Neilrock

That sort of thing is quite unecessary and is not helpful. It would be better if you removed it.

[vanhalen] 16/11/2004 14:07

Nigel .......... further information relating to what we discussed in tonight's post together with recently received correspondance.

LET'S KICK BOTTOM !!!

[eurofox] 16/11/2004 13:24

they should have been disqulaified from market-making then it would really hurt

[werdermouth] 16/11/2004 13:14

"Since the London Stock Exchange started investigating the settlement problems that arose last year, Evolution and others in the market - including the LSE - have tightened the way they monitor share trading and imposed controls on exposure to a company."

"Evolution has limited short positions to 10 per cent of the issued share capital of a company rather than simply its cash limit, which bore no relation to the size of the stock."

===============

EVO went short on 250% of the issued share capital of Room Service.

They have now set themselves a limit of 10% on future dealings in other companies.

That's quite an acknowledgement of just how scandalous their attempt to manipulate the markets was.


Oi, Pottsy , got anything to say fer yersen ?????

[neilrock] 16/11/2004 13:13

Come on Jaknife you spineless piece of elephant dung...

Try and de-ramp the entire industry now... The industry is accepting the immorality of what you have advocated...

I have just been Thailand and, I am sure I saw you're Sister or was it your brother while I was there...

[jonck] 16/11/2004 10:23

Probably discussing strategies with his employers.

[psps] 16/11/2004 09:15

Jaknife,
are you out of work

[anomalous] 16/11/2004 04:46

Evolution debacle develops
By Caroline Merrell, Banking Correspondent
The Times
November 16, 2004

PRIVATE investors are to continue pressing Evolution Securities for compensation in the Room Service market-making scandal after the broker was fined £500,000 last week by the lead City watchdog.

Investors claim that the £150,000, or 11p a share, that has already been offered to settle with shareholders is not enough. It has been accepted by two thirds of Room Service's investors, but one small investor, Philip Martin, who refused the offer, has been paid 39p a share by Evolution after bringing a claim against the broker in the small claims court.

A spokesman for the action group acting on behalf of investors said that they would continue to fight for compensation for an estimated 85 shareholders who claim to have lost out in the affair. Evolution said it was not aware of any other court claims and would not comment further.

The pledge by the group comes after the Financial Services Authority issued its first fine against a broking firm for distorting the market.

The FSA has also imposed an additional £75,000 fine on Evolution's head of market-making, Christopher Potts, on the same charges relating to short selling of shares in Room Service Group, a shell company, last year. Mr Potts has been suspended from his position at the group after the FSA found that he had sold short 252 per cent of the share capital of Room Service.

The fines against the company come as Evolution's biggest shareholder, Commerzbank, prepares to sell its 8.5 per cent stake. The German bank announced last week that it intended to exit proprietary trading as part of a wholesale review of investment banking.

Although the bank has managed to wind down the positions of a lot of its proprietary traders, it faces a much longer wind-down of its "special situations" investments.

The investment portfolio, which is currently showing positive returns of €45 million (£32 million) holds a number of stakes in illiquid stocks, as well as holding a stake in Evolution.

Many of the companies that the special situations desk hold shares in are clients of Evolution. A source close to the bank said that there would be no "fire sale of assets", adding that the bank was aiming for an orderly sale of the mainly AIM-listed stock. Commerzbank would not comment.

[anomalous] 16/11/2004 02:10

Investors threaten legal action
Jill Treanor
Tuesday November 16, 2004
The Guardian

A group of disgruntled investors are threatening to bring a multimillion-pound damages claim against stock broker Evolution Beeson Gregory after they were sold shares the broker was later unable to produce.
The investors bought shares in Room Service, a company listed on the Alternative Investment Market. Last week the Financial Services Authority levied a £500,000 fine on the broking firm for market distortion in connection to the events last year.

The stockbroking firm sold more than 250% of the issued share capital and was unable to deliver shares to 250 investors. It has paid £150,000 to investors who lost out, but a group of 85 are fighting on.

The investor group, led by former Royal Navy officer Nigel Smith, claimed its 85 members accounted for 170% of the issued share capital.

Mr Smith said a high court claim for misrepresentation, breach of contract and loss of opportunity would be filed next week against Evolution Beeson Gregory.

The firm said yesterday that the "vast majority" of investors affected by the so-called short selling of Room Service shares had accepted its offer.

"We have received only one claim which was rejected last week by the London county court and we will continue to defend our position against future claims vigorously," a spokeswoman for Evolution Beeson Gregory said.

Last week the broking firm offered to pay £780 to one of the shareholders, Philip Marin, in settlement outside the small claims court. The case was, however, thrown out by the judge and Mr Marin was ordered to pay costs of £1,000.

[anomalous] 16/11/2004 00:51

Very Good Werdermouth, Very Good.

[werdermouth] 16/11/2004 00:05

hey, kev',

Whats's with "the nice guys"?

Before proclaiming your/their innocence, I strongly suggest you and your ilk await the conclusion of the pending legal action(s).

In addition, to claim that Evo were not culpable in this fiasco, particularly in light of the £575k of fines levied on them and their senior market maker, is either sheer no-nothing ignorance or simply blatant bluster.

I rather suspect it is the latter.


ps shame about your bonds in Mytravel - you must be a little miffed at paying circa 50p for such a worthless pile of shi'ite.

Still, never mind, look on the bright side - at least you're still gainfully employed.......











............for the moment.



Best put your assets in the wife's name, whilst you have the chance.




A few things for you to ponder:

1. Just why did you retain a false registration address for your website for such a protracted period of time?

2. What happened to make you amend the details so suddenly one Sunday morning last summer?

3. Over the past 4-5 years, just which shares/companies have you been positive on?

4. How can you be so very certain that the people at Shore & Winterflood's are 'nice'?



Your consistent lack of response to these and many other pertinent questions can only be taken as a tacit admission of your true motives.

[uknighted] 15/11/2004 23:05

Ah Jacko
The nice guys? And they that got fined £500k. I wouldnt want to do business with the bad guys then.

So you are selective about which questions you respond to.
Now about the administration address for your personal website....

[agincourt] 15/11/2004 22:55

uknighted

I am speaking to you and all the others who are engaging him in conversation. I am not speaking to him. He has nothing to do with all this and never has done. He is irrelevent. Why waste time discussing it all with him. There is no point at all in debating with someone who is so morally bankrupt that nothing at all will ever get him to admit that he was wrong.

[uknighted] 15/11/2004 22:52

Agincourt. So why bother posting these comments as in 4883 above every time some-one comments on his postings?