Debtmatters Share Discussion Threads

[johndee] 02/10/2007 00:56

IVA's are history..........time for change now to a more informal way of managing debt.

[elssworth] 02/10/2007 00:54

Level 4 target is pretty close to 2p on this stock
hope this helps

[tday] 01/10/2007 23:12

The large buys late today, could be shorters closing out their positions.

[ihavenoclue] 01/10/2007 22:51

If i had to put money on it i feel DEBT may fall to 15p tomorrow ... just a feeling after reading DS's broker note.

[ihavenoclue] 01/10/2007 22:43

With Daniel Stewart saying a run-off is more likely than being bought out. Anyone care to guess how much DEBT is worth without it's IVA business ?

Regards
IHNC

[ihavenoclue] 01/10/2007 22:24

double ... if you were DFD wouldn't you ? DEBT averaging £4,200 an IVA and DFD averaging £7,000 ... even buying DEBT at doubles todays price you are getting DEBT for the same price they bought Loanmaker for last year. And they will be getting all the IVA's to feed through their cost system which gets the extra £2,800 an IVA.

Smart business really ...

All IMHO
Regards
IHNC

[dan10] 01/10/2007 21:10

Anyone know what % of revenues DEBT has been gaining (up until recently) through IVAs as opposed to other areas of the business??

Also can anyone explain why DEBT had debtors of over £15m vs only fraction of this in creditors? Are they finding it har to get paid for jobs done?

By way Dow Jones index really caused me problems today (am short)- market was taking irrationally optimistic view of all the profit warnings etc

[double6] 01/10/2007 20:19

Maybe we could see DFD sniffing round Debtmatters then ?!?

[felix99] 01/10/2007 20:09

cheers Dio - hope sat69 or wahtever who was full to gills over weekend is still solvent. Had a dip at 28p and sold out at 21p after MM wouldnt answer phone at 25p .

The thing to remember with running off the book is how many fail - in theory its lots of deferred income but failure rates I think are circa 25% - although no one in the industry ever publishes these figures.

[diogenesj] 01/10/2007 19:40

Daniel Stewart's view today:

"Our View - The business is in dire straits. Following the finals we reduced our PBT forecasts for 2008 by 29% and placed our target price and recommendation "Under Review". A very cheap sale is a possibility but run-off probably more likely. At the end of 2007 (March) the SHF's were £15.6m but Net Tangible Assets were actually -£1.5m.
Implications - Debtmatters generated lower revenues from its cases versus DFD and Accuma, c.£4,270 versus £7,000. This gives an indication as to why they cannot operate profitably under the new proposed fee structure. Expect share price weakness for the whole sector. We have downgraded forecasts for all companies heavily and believe that our numbers for DFD and ACG are achievable. However, there is huge uncertainty in the market and this is not likely to be resolved anytime soon."

[smashingguy] 01/10/2007 18:14

On 20th February 2007 the London Stock Exchange introduced new rules, including AIM Rule 26, for companies whose shares are traded on the Alternative Investment Market (AIM) following a consultation period at the end of last year.

As expected, AIM companies will be required to maintain corporate websites detailing financial and governance information in the interests of disclosure and transparency. Companies have until 20th August 2007 to comply as summarised below.

To find out more about AIM Rule 26 please contact Peter Kemp on [phone].


AIM Rule 26: About the company:
a description of its business; if the company is an investing company, a description of its investing strategy
the names of its directors and brief biographies of each, as would normally be included in an admission document
a description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities
country of incorporation and main country of operation;
details of its nominated adviser and other key advisers (as might normally be found in an admission document)
where the AIM company is not incorporated in the UK, a statement that the rights of shareholders may be different from the rights of shareholders in a UK incorporated company


AIM Rule 26: Publications and Announcements:
current constitutional documents (e.g. its articles of association)
all notifications the company has made in the past 12 months
its most recent annual report published pursuant to rule 19 and all half-yearly, quarterly or similar reports published since the last annual report
its most recent admission document together with any circulars or similar publications sent to shareholders within the past 12 month


AIM Rule 26: Securities:
details of any other exchanges or trading platforms on which the AIM company has applied or agreed to have any of its securities (including its AIM securities) admitted or traded
the number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders. This information should be updated at least every 6 months
details of any restrictions on the transfer of its AIM securities


AIM Rule 26: General Requirements:
The website should be kept up to date and should display the date it was last updated, it can be hosted and managed by a third party
A declaration should be made stating that the information is being disclosed in accordance with Rule 26
All required information should be easily accessible from a single part of the website
Search criteria should not be required in order for website visitor to locate the relevant information

[ihavenoclue] 01/10/2007 17:05

silver lining late on ? or trying to distance themselves from DEBT ... all the same positive that one company can see profit from IVA's and would nice to get it sorted within the next 2 months

"Debtmatters Debt Free Direct still sees potential for profitable growth in IVA market

LONDON (Thomson Financial) - Debt Free Direct Group PLC said it still seespotential for profitable growth in the Individual Voluntary Arrangement (IVA)market adding IVA is fundamentally important to the UK banking industry.
The debt advice and solutions company said it is continuing its talks with
creditors on fee levels and that it expects a mutually satisfactory outcome fromthese discussions over the next two months.
The company also said it does not share the view of Debtmatters Group that
they "may no longer be able to deliver IVA's profitably".

[ihavenoclue] 01/10/2007 17:01

duplication ....

[ihavenoclue] 01/10/2007 17:01

a 465,000 buy after the bell ... anymore coming ?

[don777] 01/10/2007 16:55

i wish that was mine.

[ihavenoclue] 01/10/2007 16:39

Don .. yes .. was just thinking someone feels confident .. or was that you ?

[don777] 01/10/2007 16:37

16:13 20.20p 250,000 £50,500 Buy T

good!!! some more...

[mrphil] 01/10/2007 16:33

ihavenoclue, yes I did spot that and thought it a bit of an odd amount to sell.

Smelgy - you spotted my deliberate mistake! Of course it was Friday.

[smelgy] 01/10/2007 16:27

.........MrPhil - they did well to sell yesterday when the market was closed!

[ihavenoclue] 01/10/2007 16:25

MrPhil ... they only sold 23,500 shares but kept 2.55 million ... i don't think it is very "lucky" for them tbh

[double6] 01/10/2007 16:22

Waiting for big sell to show after close...

[mrphil] 01/10/2007 16:18

Not sure when Blackrock "got in" but looks like they sold their 23175 @ 8:24 yesterday morning, which was very "lucky" for them!

[don777] 01/10/2007 16:00

any one knows when Blackrock got in?

thanks

[don777] 01/10/2007 16:00

any one knows when Blackrock got in?

thanks