Boxhill Share Discussion Threads

[a2584728] 10/2/2016 15:06

It maybe that the VAT liability is recoverable from third parties or even from HMRC. At best this is the case and HMRC fine then say £50k. This was obviously hidden during the DD process and therefore maybe recoverable from someone's PI. I don't think this is a scandal or a threat to the company. It's something that has to be resolved once and for all as part of the auditors work

[hydrus] 10/2/2016 14:39

Emex turns over £25k per month. That's nothing. Anyway, it all sounds very worrying to me and the RNS is very poor IMO. Good luck to holders hope you don't get screwed over here.

[biggest bill] 10/2/2016 14:35

The existing payments processing division just processed payments. Emex does a lot more than that; I anticipate that payments processing will be just a part of the new Payments Division.

[biggest bill] 10/2/2016 14:29

Even if boxhill end up having to pay some of the vat liabilities themselves, it should be easily covered by the cashflow of the business.

[hydrus] 10/2/2016 14:27

Later on it says:'Emex has developed software for peer to peer payments, money transfer and trade services, crowd funding and accounts for individuals and businesses, and is already a significant supplier to the Company and will now form the cornerstone of the Payments Division.'Does that not suggest the existing payments Division has gone?

[hydrus] 10/2/2016 14:18

You may be right Bill but who ultimately is responsible for the potential liabilities? I don't understand.

[biggest bill] 10/2/2016 14:04

-- The business of PayCorp was transferred out of PayCorp within the Group on 29 January 2016. -- The Company's 100% shareholding of PayCorp was transferred to a non-Group company on 29 January 2016.

My understanding of these two sentences is that the payment processing business is retained within the group whilst they have ring fenced the potential vat liabilities in another company.

[hydrus] 10/2/2016 13:51

I'm not clear having re-read it what's in Paycorp and what isn't. All very confusing. What a shambolic mess. My concerns about the governance here were on the money.

[113mike] 10/2/2016 13:45

Not sure what to make of it all...raises more questions than answers.. looks as though they have got shot of Paycorp but left with vat liabilities/fines to pay.. ? I'm sure others on here will be able to interpret better whats gone on...prob a bit of a hit in the share price on its return to market? imho

[hydrus] 10/2/2016 13:21

How can they just transfer the main business out? Who has received it and how much have they paid for it? Nothing? Utterly bizarre

[hydrus] 10/2/2016 13:17

Umm wasn't Paycorp their entire online payments Division? The bit that was growing that people on here we're excited about?

[daicaprice] 10/2/2016 13:07

Does that look as if they've turned the corner?

DC

[mostyn] 05/2/2016 16:17

I have spoken to both the company and the nomad and neither could say anything (for regulatory reasons) about when the suspension might be lifted. Sections of the accounts apparently float between the three to be signed off and when I spoke this was apparently still going on. I was completely unable to get a view on whether it would be soon or not. I did ask the company about trading and was told they stood by the views expressed in the December trading statement. The longer the suspension lasts the harder I find it to understand what is going on, especially when the accounts were meant to be at an advanced stage over 3 weeks ago.

[roofer2] 02/2/2016 07:49

Little bit hard to be optimistic when the original reason given for the suspension has now long passed

R2

[a2584728] 01/2/2016 09:01

This week results and suspension lifted I reckon

[a2584728] 29/1/2016 15:16

Wrong, good news they want out ASAP. I hope I am wrong.

[ramas] 29/1/2016 15:01

Delays are always for good news ..... Right ?

[newvest1] 29/1/2016 12:36

RNS out no further clarity then...

[pm95] 29/1/2016 11:27

curtesy of PH911 on lse. It appears that the company have changed their accounting period to end on 31/1/2016.

[a2584728] 29/1/2016 09:26

Isn't it the AGM this morning?

[roofer2] 27/1/2016 07:31

Going to have to be a brilliant reason as to why they have suspended trading for this long to keep me invested here, the longer it goes on the more likely I think the results leak was a set up IMO

R2

[mostyn] 26/1/2016 12:30

The suspension and lack of news is very disappointing, especially the fact that over 2 weeks have elapsed since the suspension, without any comment from the company. I have tried to get hold of the company but their phone goes to voicemail and there has been no response as yet to my request for contact. There could be any number of negative reasons for the delay (and the conspiracy theorists are beginning to come out on some of the other bb's), or there could be no negative reasons at all - the problem is the complete silence. This seems unnecessary given that the shares are suspended so whatever the reason there is a level playing field for everyone. From the simple perspective of shareholder relations, and the fact that every shareholder's money is currently tied up, one might have thought the company would understand the need for some further explanation.