Erinaceous Share Discussion Threads

[andrbea] 30/1/2008 11:54

well a buy of 152k went thru'

can this company be pulled round?
the fact that they've managed (presumably) to pay another round of wages (month end) to their staff is a plus, isn't it?

it has fallen 98 or 99% now off its high. 2008 will be make or break year I suppose

[esrimeur] 28/1/2008 17:14

I think it was a firm consideration, just staged, so an actual liability. So debt would reduce, but sales proceeds be equally less. That's if it is them. I noted a new co formed a couple of months ago, reg to a solicitors' address, with a very likely name for a newco.

[ch2175] 28/1/2008 16:57

It would remove the contingent liability though so the debt falls a little?

[esrimeur] 28/1/2008 16:47

Absolutely. They were due deferred cash consideration in 2008, so if it is them, that will doubtless be deducted, leaving, errrrr............very little.

[ch2175] 28/1/2008 16:33

If so I bet they paid a lot less than the original earnings multiple!

[esrimeur] 28/1/2008 16:10

That one does sound like an MBO by original vendors.

[ch2175] 28/1/2008 16:02

Apparently Jordfans has been sold. Firesale underway.

[ch2175] 26/1/2008 13:23

no problem. nearly fell for something similar myself awhile back.

[andrbea] 26/1/2008 08:03

whoops, tks for pulling me up Ch1275

[ch2175] 24/1/2008 23:44

andrbea - I am absolutely sure that ERG will survive. It is a major italian oil company that also operates in Spain. (Pity they are not linked though because they were making enough money to pay off the entire Erinaceous debt in a single year).
Expect an impotant announcement soon!

[8iron] 24/1/2008 22:23

sand frog - agc down 51% and probably the widest spread on the exchange!

[8iron] 24/1/2008 22:22

andrbea - I thought the same, but think am starting to believe the noises in my head!! Think this one will be a while coming!

[ch2175] 24/1/2008 08:57

Given up on this one yet Sand Frog?

[sand frog] 24/1/2008 08:32

checkout agc in my opinion now about to take off....massive fall and news is expected..i would guess a 500-1000% gain on its way..

[tubruk] 22/1/2008 08:14

They're a law unto themselves...still!

[ch2175] 21/1/2008 20:32

Good point. Isnt this size of judgement something that should bring an announcement from the company given that they previously said that a £4m provision was sufficient?

[tubruk] 21/1/2008 16:47

Trouble is the hit isn't quantified as there's talk of others waiting in the wings. If insurers are going to pay they should know by now as they will have paid for legal representation. Someone should ask them!

[ch2175] 21/1/2008 16:32

So someone is confident enough to risk £6K????????? I wouldnt get over excited especially as that was a conditional bargain.

[ch2175] 21/1/2008 15:00

If there is any deficiency in cover (or insureres simply seek to avoid paying up) there will be a pretty hefty payment falling due 14 days from last Friday. Any unsecured creditors sick of being fobbed off may want to get in before Cheshire issue.
Now this hit has been largely quantified, what price the results of "strategic review" soon?

[tubruk] 21/1/2008 14:23

Hence the talk of an inter-company action against its own insurance brokers! Likely it won't be covered and/or they won't have sufficient cover. This is particularly the case as and when more actions come out of the woodwork as any cover is likely to be an aggregate.

[ch2175] 21/1/2008 12:32

Partick. There have been doubts cast as to whether level of PI is sufficient for this one and even whether given that fraud is involved that they might not pay out at all. And guess who the "one stop" placed its PI through!!

[andrbea] 21/1/2008 12:22

This from 14 Jan (= some fall, year on year..)

Poor old Erinaceous Group. The stock that started 2007 with a share price of 346.5p and went through a dramatic fall from grace had that sinking feeling again. The shares fell 26 per cent to 3.03p after it admitted it was considering selling its insurance division.

[patricktrfc] 21/1/2008 11:54

Andrbea

They have indemnity insurance for this sort of thing, so no cost to the bottom line... although the "reputation" would not have been helped!

P