Azure Share Discussion Threads

[paulkent] 29/11/2004 10:12

good points of course..

however, the detail im trying to get my head round is this. If the reason the Directors DID suspend it, was because there was suddenyl a risk it may become insolvent, then WHY hadnt it been susupended earlier? - IF the only hope of it NOT becoming insolvent was the vote at the AGM, then why hadnt it been suspended in advance of that vote for the same reason??... ie the risk before such a resolution had been passed was no different IN REALITY to the position AFTER such a resolution HADNT been passed.

Additionally, why did the LSE feel the need to intervene to "prolong" the suspension (i THINK thats what happened? - i cant find the old RNS's from the time) IF the original decision HAD been made because of the risk of insolvency, then the "risk of insolvency" wouldnt have improved at all until the new funding issues had all been voted on and resolved in the New YEar. Therefore the same Directors ought not to have been ready to "unsuspend" and there would therefore have been no need for the LSE to intervene to continue the suspension.

And why DID the LSE have to request suspension to resolve settlement difficulties?...why couldnt they let the settlemetn difficulties be resolved through the operation of the open market, namely letting EVO go and buy back all the shares it had sold?..surely if its techinically just as possible to "overshort" then it should be equally possible to go "overlong"!?? and they should have made them do it until everyone they sold to they had bought back from.

[anomalous] 29/11/2004 09:38

JakNife - 29 Nov'04 - 09:34 - 5006 of 5007
If Chiddingfold had not rescued RSV then it might have become insolvent.

I'm glad that you now admit that RSV was NOT insolvent. Your above statement says that they might have become insolvent. This implies that they were NOT insolvent at the time.

Even the RNS states: otherwise at risk of imminent insolvent failure

It does NOT state that they were insolvent, merely at risk of failure.

This further implies that you have been lying to the BB for the past year with your claims that they were insolvent. You've stated on numerous occasions that the shareholders were foolish to buy shares in an insolvent company, when you plainly knew by the above statement that the opposite was true.

The company was not insolvent and the Court agreed that it was not insolvent by agreeing with the Valuation Report. You owe an apology to the RSV shareholders.

[paulkent] 29/11/2004 09:25

sorry to be a pain, but could someone remind me WHY RSV was actually suspended the shares after the AGM..ie what was the specific TECHNICAL reason given, and were they able to do so (ie are their rules about what youcan ask to be suspended for?), and what did it achieve for the company; as far as i can remember, the only people who benefited from suspension were EVO who didnt therefore have to buy all the shares back on the open market and im still intrigued to know who asked for the suspension and why..?..any offers?

[anomalous] 29/11/2004 08:35

The way I read this now, is that the Room Service Shorting Scandal could end shorting as an accepted practise in the UK. Bye bye Hedge Funds!

Or should that be Buy Buy Hedge Funds......... from now on!

[Abuse team] 29/11/2004 08:33

Post removed by ADVFN

[werdermouth] 29/11/2004 07:25

35m shares shorted, eh?

Wonder if Mr G can work out what % of the issued that works out to be?

[anomalous] 29/11/2004 00:01

As I've said before, he who lives by the sword, eventually has it inserted somewhere painfully!

[vanhalen] 28/11/2004 23:46

ROFLMAO !!!

City traders have bet millions on Evolution's share price falling. According to Data Explorers, it is one of the top five shorted stocks in the market - with investors selling 35m shares they do not own in the hope of buying them back cheaper at a later date.

how ironic !!!

[werdermouth] 28/11/2004 23:38

Anom'

As it gets nearer, I see more than one vulture............















..............and the circles grow ever smaller.

[anomalous] 28/11/2004 18:52

>Werder
Remember that Griffiths said he would "Live or die by my reputation". I hope he's got his will in order!

[werdermouth] 28/11/2004 15:15

Is that a vulture I see circling in the distance..............?

[Abuse team] 28/11/2004 14:17

Post removed by ADVFN

[uknighted] 26/11/2004 19:35

Extract from this evening's ADVFN Market Bulletin:

"Evolution also finished lower, down 63-3/4 at 140 as three companies it has acted for in recent flotations have had profit warnings."

Some sort of Freudian slip??

[psps] 26/11/2004 17:13

i see EVOLUTION are MM for Earhtport........and there is something today with EPO saying that BLM shorted EPO share.

i wonder if EVG are involved

[werdermouth] 26/11/2004 12:59

Taxi for a Mr Griffith..............

..................just don't let him put it on account.......

[anomalous] 26/11/2004 12:01

Oh dear, it looks like the Evolution share price has dived off a cliff. I know we shouldn't gloat, but it is fun!

Could it be that the market knows what's coming? Could it be that more Fund Managers are going to boycott Evolution's issue becuase the percentages are too low and the profit warnings too high? Could it be that Mr Griffith's should have settled with the Room Service shareholders when he had the chances (all four of them) to make a deal and save himself and his shareholders extra bad publicity?

IMO the Evolution PR department is now in panic stations!

[anomalous] 25/11/2004 09:41

I wonder if Mr Griffiths is ready to:

A) get the cheque book out
and
B) get his house in order

His shareholders are not going to be too impressed at their AGM. The company seems to be 'accident prone'!

[werdermouth] 24/11/2004 19:35

GAMBLING GROUP HIT BY BUSH PLANS
More misery for Evolution

Full story:



What goes around, comes around...................

[vanhalen] 24/11/2004 13:40

Anom ....... i have mail ..... will send a copy in tonight's post

[anomalous] 24/11/2004 10:31

Potts resigns from Evolution
By Kate Burgess
Financial Times
Published: November 24 2004

Christopher Potts, who was fined last week by the Financial Services Authority for his role in the Room Service affair, has resigned as head of marketmaking at Evolution, the independent broker.

The FSA fined Mr Potts £75,000 and Evolution £500,000 for distorting the market in shares in Room Service, now known as Azure Holdings, to the detriment of investors.

It was the first FSA fine for market distortion.

Evolution, through Mr Potts, had short-sold (sold shares it did not own) 2.5 times the issued share capital of Room Service without any visible means of delivering the stock.

Mr Potts was suspended by Evolution immediately following the FSA ruling.

Evolution said: "Following the recent events surrounding the FSA's findings with regard to Room Service Group, Mr Potts has made a difficult decision to resign as head of marketmaking at Evolution Securities to pursue other business interests. It should be noted that Mr Potts departs on an amicable basis and we wish him well in the future." Kate Burgess

[robin_of_loxley] 23/11/2004 13:26

Eurojaws,

As a holder of MLS I posted Littleberts post on the MLS board to see if anyone else had heard whether it was accurate, as there are lots of people on that board who are speculating on whether or not the price will recover on news, or not. Helen Of Troy posted the following reply:

HoT Helen of Troy - 23 Nov'04 - 13:17 - 3256 of 3258
It was MOLS, Molecular sensing, that EVO just brokered for OMH
stay cool
HoT

So sounds like you are correct eurojaws

[eurojaws] 23/11/2004 13:21

Littlebert/Agincourt,

"EVG has just brokered the takeover of Medical Solutions by OMH...."

This statement appears here (4983/Littlebert) and on the EVG board (1377/Agincourt).
However, as a long-standing OMH holder, I was under the impression that we'd recently taken over Molecular Sensing plc.

Could either of you enlighten me please?