Gable Hldgs Share Discussion Threads

[the shuffle man] 25/2/2016 13:17

IMO its priced at the moment as if its going to go bust.

So material upside if they overcome the current perceived problems.

[glasshalfull] 25/2/2016 13:00

Despite a number of misgivings I've also been buying down here bb2.
Shares now fallen 90% in little over 18 months.

V informative thread & my thanks to contributors.

I'll await further company announcements before commenting.

Regards,
GHF

[the shuffle man] 25/2/2016 10:42

I am hoping so.

Never thought they would get back to this level. No confidence here on anything. Management have a lot to do.

If anyone can believe that once the over provisioning is complete that they will go back to making a profit and that they have sorted out the solvency position then they would be a raging buy at these levels but its a BIG if on past form.

Heres hoping anyway

[battlebus2] 25/2/2016 10:15

Anyone still see an ember of life here t 11.25p??

[adyfc] 20/1/2016 17:01

...and then the tissy fit was back...

[mw16] 30/12/2015 11:50

...and then the tissy fit was over...

[garbetklb] 23/12/2015 13:09

Hi Topvest
I agree with all your points - except (ONLY in respect of their ATE business) the comments about late premium collection. It's pretty complicated, but the late premium collection isn't an issue for this type of business ONLY because of the way the policies are constructed - but ONLY if the business is well underwritten, which (in my view) is far from a given in this case.
However, one of the key issues with insurance is to build a balance portfolio - and one of the ATE policies has such a high anticipated premium as to be concerned about balance.
IF I were a shareholder, I'd be very interested in who was actually doing the underwriting and with what background - as the website isn't very informative. If it's WD, I'd find that another red flag.
Garbetklb

[topvest] 23/12/2015 06:57

Thanks yes - still collecting premiums late or never is a rubbish business. Red flags are audit qualifications (2 I think), management who are over paid, management who can't tell shareholders straight what is going on, related party transactions, poor cash flow, based in a country with light touch regulation for a reason, high debtors, reserves accounting highly dubious, large claims coming out of the woodwork....the list goes on and on. Haven't even looked at their accounts for 6 months, but these are the ones I can remember! The shares are worth close to zero pence in my view.

[topvest] 22/12/2015 21:17

Remember this is an insurance company that writes long business and can't even collect its premiums let alone write profitable business. Ticking time bomb! I don't think I've ever seen a set of accounts with so many red flags.

[luckymouse] 21/12/2015 22:34

Check the date..
..................................

LuckyMouse 21 Jul'15 - 12:30 - 2921 of 3035 0 0 edit

13p & 16p look to be the main theoretical spt areas - trouble is no ones buying - if that goes then theres nothing until 4p !

[tsmith2] 21/12/2015 21:47

I agree re: cash call..

[adyfc] 21/12/2015 21:23

No mention of Dewsall forfeiting his fat bonus to help recoup some of the £2m hit on profits. Anyone would think he's just in this for himself.

[saucepan] 21/12/2015 20:01

I see Shares Magazine have covered this today in their news section. They posit that today's cash call "may not be Gable's last".

[topvest] 21/12/2015 19:47

Yes, only surprise is that the directors are putting their money into this basket case as its not a viable company in any shape or form.

[tsmith2] 21/12/2015 18:03

Zilch cred...

[saucepan] 21/12/2015 17:27

Indeed, it is cheap now - but could still get 14p cheaper :-)

[eezymunny] 21/12/2015 15:09

Yes, well, there have been excellent cautionary posts here for a long time. All ignored by the "ITS A LOW P/E" crowd. Fools and their money etc...

[tsmith2] 21/12/2015 08:18

Looking at terms again how on earth is that fair on shareholders, did company consider RI to give all a chance?7.5%, secured on assets, 15p max conversion etc etc

[tsmith2] 21/12/2015 07:32

Similar Royal shafting of shareholders over at GLI Finance too imo

[tsmith2] 21/12/2015 07:31

7.5% in meantime on lent funds..Zeus capital sign off - no comment..

[tsmith2] 21/12/2015 07:29

Would tend to agree 15p max conversion price..

[janeann] 21/12/2015 07:21

pigs well and truly in the trough - if I read it correctly

[tsmith2] 21/12/2015 07:08

Doesn't read particularly well...management in it for themselves..?

[the shuffle man] 17/12/2015 09:45

Apparently chart is looking better. Back to 30p

[adyfc] 14/12/2015 16:53

Dewsall won't care he'll just swan off into the sunset. So long suckers.