Azure Share Discussion Threads

[shirishg] 21/11/2004 13:36

Post removed by ADVFN

[aerotus] 21/11/2004 13:18

Ironic how everybody will be shorting EVO next week! What goes around comes around!!! Lets see how funny Evo thinks shorting other companies is now!

[anomalous] 21/11/2004 13:16

If only the EVG shareholders had taken my advice about dumping their shares the weekend before the FSA news came out, they could have saved themselves a bundle. As far as I see it now, the pressure on Evolution to settle will get worse and worse.

As the news today points out, some fund managers are already moving away. It won't be long before other customers do the same. Egged on to do it (as Agincourt says) by whispers in the ears from Evolution's competitors.

If a large bank like Commerzbank has decided Evolution is not a good investment, how long before the retail customers see the trend. They are already talking about Commerzbank on the EVG thread. EVG's share price is going to see solid pressure. In fact, the fact that there are millions of pounds being bet on a drop in Evolution's SP, tends to make me believe that the market is just waiting for us to file the High Court law suit and watch a plummet in the price.

Normally, I would reccommend our members to place a large short spread bet on Evolution. But as we are privy to Price Sensitive Information concerning the company, (about the fact that we are about to drop a legal bombshell on them) we might be crossing a line re insider trading. So my advice to the members, is to do whatever you want to do, but please stay inside the law.

[agincourt] 21/11/2004 11:42

LOL

for Evolution Group


Time for JakNife's little hedge fund to short EVG.


JAK shorts Evolution Group.

[bobby2424] 21/11/2004 10:10

Things are not looking good for shareholders of EVO. If I held shares in EVO I would sell now and buy back later, this publicity will have a negative effect on the share price imo.I'd buy back later.........unless of course the firm goes belly up.Will the rats desert this sinking ship?

[soysoy] 21/11/2004 09:34

November 21, 2004

Funds threaten to boycott stockbroker


LEADING fund managers are threatening to shun future fundraisings led by Evolution Group, the stockbroker, writes Richard Fletcher.

The move follows profit warnings from two Evolution-backed firms, Medical Solutions and Plant Health Care, just months after they raised a combined £9m. The value of both has collapsed.

The rebellion is being led by New Star's Patrick Evershed, one of Britain's most respected fund managers. "There has to be confidence between broker and fund manager," he said. "I have lost that confidence." Several other fund managers have also expressed concerns.

However, a spokesman for Evolution rejected the criticism. "The value of companies we have raised new money for this year has increased 11.6%. The average increase in the Small Cap index is just 3.5%," he said.

Evolution's shares have risen from 23p in March 2003 to close this week at 146Åp, but traders have bet millions of pounds on the price falling.

The shares fell on Friday amid concerns about Evolution's close relationship with Commerzbank, which is in chaos after cutting 275 jobs in London. As well as owning 8% of Evolution, the special-situations desk at Commerzbank holds large stakes in a string of Evolution-backed companies. However, Evolution stressed it had a normal relationship with Commerzbank.













.

[agincourt] 21/11/2004 09:19

SUNDAY TIMES ------ Richard Fletcher





FUNDS FURY AT CITY STOCKBROKER


Leading fund managers are threatening to shun future fund-raisings led by Evolution Group, the stockbroker..................

etcetcetcetc.


Bye Bye Evolution Group.


LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL

[anomalous] 20/11/2004 22:05

Evolution Group
Financial Times
Published: November 20 2004

Evolution Group shares fell 4.4 per cent to 148.25p after the Financial Services Authority fined the stockbroker £0.5m for market distortion. Short-selling - selling stock that is borrowed to drive down the price so it can be bought back more cheaply later - is an accepted market practice. However, Evolution short-sold a massive 252 per cent of the share capital of an Aim-quoted shell company, Room Service. A proposed debt-for-equity swap did not take place as scheduled and settlement chaos ensued. Calls for tighter regulation of short-selling were renewed.

[eurofox] 20/11/2004 20:21

takes you back to the need for MMs to have to declare, as well as anyone else, long or short positions in excess of some small %age of total issued equity on any stock that they deal in

[soysoy] 20/11/2004 18:56

DOUBLE 6
SOUNDS THE SAME OLD STORY

[soysoy] 20/11/2004 18:53

ASCENT - ANOTHER MM's SCAM ?? (AST)
double6 - 19 Nov'04 - 20:29



Am intrigued by what has gone on ;


Over the past few days the shares:

ROSE BY OVER 700%

WERE SUSPENDED

FELL BACK BY OVER 50%

ALL WHILE THERE APPEARS TO HAVE BEEN A LOT MORE BUYS THAN
SELLS

It APPEARS as though the MM's MAY have got out of jail through the company issuing 1m new shares (to start trading on the market next week) thus allowing the MM's enough shares to fulfill all the BUY orders they have taken over the past few days.

It would APPEAR that this MAY BE another case of MM's mugging the punters by pushing the price up (25p to buy at one stage) and been able to cover the excess shares bought by traders through this issue of new equity which coincidentally was announced today.

Don't let them get away with it again!

(nb I do not and have not held shares in AST)

[double6] 20/11/2004 09:51

How many of the shares were in circulation to the MM's??

[twenty4seven] 19/11/2004 23:39

double6

If people are buying the price goes up.

If people are selling the price goes down.

What smells rotten?

There are 76.47m shares in issue. How many buy's were there?

[psps] 19/11/2004 21:14

one of the MM for AST is Shore Capital

[double6] 19/11/2004 20:18

Anyone who wants to consider looking into this in greater depth, and perhaps bringing it to the attention of the FSA, please contact me at:

[e-mail]

It smells something rotten to me.

(NB I do not and never have held shares in AST, am just intrigued by what has happened)

[werdermouth] 19/11/2004 20:14

If that's the case, they're taking one hell of a risk, particularly in light of the recent headlines surrounding RSV.

Issuing 1m new shares "to raise #50,000 of new capital for the Company"?

Surely they could have just raided the petty-cash tin for such a paltry amount!

[double6] 19/11/2004 20:02

wm - if I'd bought shares in AST I'd be pretty cheesed off about it (especially those who paid over 15p!) - presumably the MM's are just hoping people with the commitment that JM / Anom have shown to RSV do not start looking at AST - GOOD LUCK TO ANY HOLDERS!

[werdermouth] 19/11/2004 19:59

So, does this smack of AST and/or the authorities taking pre-emptive action to prevent another RSV situation?

[double6] 19/11/2004 19:48

Yes - so basically they've issued 1m shares presumably so the MM's have the shares to fulfill all the shares bought by people previously, which the MM's don't actually have to sell to them - basically quite similar to RSV!

[matto] 19/11/2004 17:04

Sorry this is a bit OT but made me chuckle:

Ascent Resources plc (AST) has issued 1,000,000 new ordinary shares at a price of 5p
per share to raise #50,000 of new capital for the Company. It is expected that
the new ordinary shares will be admitted to trading on AIM on 25 November 2004.

[anomalous] 19/11/2004 13:33

>matto

Your last sentence hits the mark bang on. It has been suggested by some, that there was a falling out amongst 'th!eves' or former 'colleagues'. That an agreement to supply was denied, when the price of co-operation was not met.

But then it could also be, that the 'other party' was too fearful of the FSA's involvement, because they knew the investors were aware what was wrong and were actively campaigning for something to be done about it.

[matto] 19/11/2004 12:05

24/7 inclined to agree with your above post, but then that's why people bought RSV because the laws of supply and demand dictated that the price should have risen dramatically. Indeed maybe the rise in price of AST could be used to establish a compensation value for RSV/AZH holders. Someone did buy 15,000 AST shares at 25p 7:58 am 18/11.

What is also noticeable is that AST requested suspension whereas RSV did not. Makes one wonder whether RSV were also somehow involved and at the very least turned a blind eye.

[twenty4seven] 19/11/2004 06:01

Posted on the AST thread.

Twenty4seveN - 19 Nov'04 - 05:57 - 253 of 253


double6

I read somewhere that you think the MMs are to blame for the rapid price movements. Much the same as RSV. The 2 MMs involved are Shore Capital and Winterflood Secs, so two out of three ain't bad.

I think the MMs played this as they should have played RSV last year. On the volume of buying on the 17th the price had to rise. Just like yesterday the price had to drop with the amount of sells. Obvious really, I think its called supply and demand!

If either of these two MMs had done the same thing last year with RSV and raised the price, when there was a slightly larger volume of buying, then there wouldn't be all these allegations flying around the BB's and Court Rooms. I'm not surprised that this was suspended. There may even have been a few cries of hear we go again. But with the FSA breathing down these two's necks do you really think they would try and pull off a play like that again? On the other hand maybe the LSE actually listened to a trading alert from the Nominated Broker this time! But then again this stock is missing the third part of that RSV equation. With hindsight it would be nice to know what the RSV price would have reached. Is there an Expert around who could offer a calculation?

I think I read earlier that someone bought 20,000 at 25p (ADVFN aren't showing the trades before the suspension) If this is true I feel sorry for this guy. Greed and naivety comes to mind. An expensive lesson. But he can be rest assured that his £5,000 has gone into the pockets of a fellow poster on this thread. I just hope it's not into the pocket of that sad ramper Alvin. Anyone who bought on the back of that tripe wants to look at investing in banks.....savings accounts that is, not shares.

Regards

24/7

[double6] 18/11/2004 22:09

basically the shares got ramped up from 1.25/1.75 yesterday to 15/25 today!!!

Then the usual SUSPENSION followed by price falling back to 2/4.

MM's enjoying it!