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[garbetklb] 25/5/2016 22:01

Luckymouse

It's an interesting word. Not invest (with the notion of a transfer of ££), loan (again involving cash moving), guarantee (money at risk), but "provide".

How can any decent regulator include money "provided" fur a max of 7 months 6 days as capital?!

[garbetklb] 25/5/2016 21:55

MW16 - how do you come to that figure? You may be right (personally I doubt it), but it would be great if you could explain your thinking.

And I'd love you, or anyone else, to point out the errors in my posts - I may be missing a real bargain......

[luckymouse] 25/5/2016 21:33

Garbetklb - 'provide' - some word game to keep it going as long as poss perhaps - primarily 'providing' the notion of meaningful reserving? (why would you reserve a gonner?)

Seems to me a vehicle just to 'provide' Dewsall with an outrageous salary lol

[mw16] 25/5/2016 21:30

Sum of the parts is 18p. The big boys will snap this up.

[jamielein] 25/5/2016 21:21

A lot of us have been saying this for a long time. It's just a shame that we were right as a lot of people will lose money.

WD will keep the business going for as long as possible so that he can extract as much money in salaries as possible.

[stegrego] 25/5/2016 20:59

I'm afraid this is all smoke and mirrors.
Business is worth very little IMO.

[adyfc2] 25/5/2016 19:33

Thanks Bill , just keep writing the premiums . You deserve a payrise . I like the way u do things

[richard98765] 25/5/2016 18:24

Releasing this damaging news at 4pm is not fair. Only quick investors can get out with 'minimal' losses. I expect my small holding will get knocked another 20% on opening so a 50% hit is on the cards.Maybe this is where stop losses become useful

[garbetklb] 25/5/2016 18:13

Yes, I do have industry experience & have met WD, albeit quite a time ago. I was singularly unimpressed.

I don't think there are any positives here and, if I was a holder, my personal view would be to take any price on offer. I don't see this ending well.

If you look back, I've made several detailed posts as to the issues I see with the company - of which the vulnerability of something going wrong with the ATE policy was one. No, I didn't know it was going to go wrong - but it was far too large an exposure for them to be running. All the other issues still remain.

And worth pondering on why the regulator allowed them to have such a ludicrously high exposure...... Gable sure as hell didn't choose Lichtenstein for the in depth and relevant experience of its regulator.

Turning to the related party transaction....... Hope everyone realises that apart from his obscene salary, WD has also been remunerated by GAH paying his private company, Hogarth? You should also have a google - some interesting stuff from 10 years ago.

I've absolutely no idea what the related transaction is purported to be - it says that Hogarth are going to "provide" GAH with £10m for the short term - no longer than until the end of the year. I suspect the choice of the word "provide" is deliberate - I'm certainly unaware of any specific insurance related meaning and don't know what it means. Taken with the later word "guarantee" and the definite no later than 31/12/16, my GUESS is that no cash will come to Gable. IF this is just a temporary transaction, how on earth the regulator can believe that this is acceptable as capital, especially against long tail or long term policies, I've no idea. So, maybe, he won't?

Do the sums - look through all the accounts and add up the profits, then deduct the losses. The profits proved to be an illusion as they were a product of not reserving enough for the claims that materialised. There is no profitable normality to return to. However, there are lots of liabilities - and if they are not correctly reserved.......

Look at the Board of Directors and senior management - look for insurance experience. Precious little.

For me, uninvestable at any price.

[escapetohome] 25/5/2016 17:03

When you imagine the amount of drop today at the end has been going on for the last 6 months , you begin to appreciate how much money has been lost from the glory days.

A sad company and an extremely overpaid ceo.

Non delivery par excellence.

[luckymouse] 25/5/2016 16:34

Shuffle - yep - they are saying its not viable in its present form - which is awkward cos that's the main business! The prob with a binary business model - its a shame to throw away a growing renewals pot - but it can only be supported under the new rules by a much larger creature - so a whole or part sale is likely - but seeing as they hold few trump cards - cant see it at much of a premium if any. Looks bit grim.
A specialist area tho so happy to be corrected on anything.

[escapetohome] 25/5/2016 16:29

Ive stopped loss out

[adyfc] 25/5/2016 16:26

There's only one Bill Dewsall.Love the way it's snuck out at the end of the day. Cracking stuff.

[the shuffle man] 25/5/2016 16:19

Any views on the announcement. Bigger losses, more capital required and strategic review as business doesn't seem viable for the new capital requirements.

[luckymouse] 25/5/2016 16:07

escapetohome - read through the last yrs posts and all will become clear

ATB LM

[escapetohome] 25/5/2016 15:49

Cant be long to wait now Garbet.
I see you are not too enamoured of this company , and perhaps even may have industry experience.

Any positives here?
Large cash pile, although granted in insurance that is as regulatory requirement , so perhaps cannot be used flexibly.

Whats the USP of Gable? Strong focus on europe and perhaps speed of quotation and competitive? Computerised quote system apparently? I hope its not like the one at we- buy- any- car, where they feed in information about your car its condition etc and out pops a computer quote .

Any thoughts?

[garbetklb] 25/5/2016 14:18

You could contact the FD to ask re final results.

[escapetohome] 25/5/2016 13:41

Does anyone have contacts at this company that can give a clue as to whats going on here?

[escapetohome] 23/5/2016 20:15

It seems at double the number of sells to buys today.

[escapetohome] 18/5/2016 18:33

Could this be a BOWL share?

[escapetohome] 16/5/2016 10:56

No noise yet as to when will be reported the final result? Eh?

[escapetohome] 12/5/2016 12:05

Little drop today? I wonder if there was a trade outside the market hours that pushed this down.

Im hoping progress is made this month, and that the bottom cant be far away!

[francoismyname] 22/4/2016 07:16

I'm in. If it an get through the next few periods I see major upside here.

[escapetohome] 21/4/2016 15:32

Anyone following this one? Whens the next date for news?
I had another little nibble today.

[ed 123] 18/4/2016 22:09

francoismyname

I hope you made more than £18,400 profit when you sold in the 40's. ;-/