Gable Hldgs Share Discussion Threads

[escapetohome] 12/9/2016 06:35

Cross off aim authorities from your list graham

[tsmith2] 12/9/2016 06:31

But predictable

[graham1ty] 12/9/2016 06:27

So much easier to run a business away from the prying eyes of non Execs, regulators, AIM authorities, NOMAD........

[mobyrich] 12/9/2016 06:16

Delisting then...

[germanicus] 12/9/2016 06:11

"Including big institutions - suckered in eh?"

Yep....

[escapetohome] 10/9/2016 07:16

Including big institutions - suckered in eh?

[luckymouse] 10/9/2016 07:11

...they were all suckered in

[garbetklb] 09/9/2016 20:58

2 non execs - neither of whom appear to know much about insurance. But then, the 3 who have resigned recently probably didn't know much either. And it's surprisingly difficult to find anyone on the website or via Google who seems to know much either.....

Makes one wonder........

[topvest] 09/9/2016 20:06

How many non-execs are left standing now?

[garbetklb] 09/9/2016 11:25

Oops - he was just there to give.....

I suppose I could have written something like "He was just their token local....."

[garbetklb] 09/9/2016 11:05

Although I suspect the Chairman didn't have much of a clue re Gable - he was just their to give the veneer of solidity etc.....

[garbetklb] 09/9/2016 11:04

And the Chairman has now resigned - again with no comment.....

[maxmarilli] 07/9/2016 10:04

Up we go....news coming up?

[mypanic] 01/9/2016 07:26

Unable to sell presently.. Hmm?

[effortless cool] 01/9/2016 06:19

Garbetklb,

Good spot on the "financial investments". There is no standard definition of this term but, if I was a shareholder, I would be concerned as to whether the investment was appropriate and, ultimately, realisable.

Also, I believe, good advice for shareholders to exit now, rather than wait and see. Better to realise a little than nothing at all.

[garbetklb] 31/8/2016 21:41

I'd be v surprised if shareholders will see anything.

I've just been looking at the 2015 accounts and a few things strike me :

The CEO's statement is all about blaming Solvency 2 - not a mention of their poor underwriting and even worse reserving.

Without knowing a lot more about the mix of business it's hard to be sure, but my guess is that they remain under-reserved. Simply a personal view.

Very curious purchase of £15.1m of "Financial Investments" (nil held in the previous year). From a quick scan, I can't see what these are. Insurers tend to want to avoid financial risk on top of insurance risk so are invested in cash / gilts etc - readily realisable. Especially for an insurer in trouble, you don't take additional risk. Yet from the notes, one gets little clue except that these are not quoted investments - ie maybe not v liquid. So what are they?? Does anyone have any idea? I have a feeling that the answer could be very interesting.

Shareholders - I'm sorry for you. Hopefully nobody has over-exposed themselves - bearing in mind this is an insurance company which is supposed to be all about spreading risk, hopefully nobody has concentrated the risk in their portfolio & bet the farm on them. Although Gable have not behaved this way - the ATE policy is a stark reminder.

From personal experience I know it's v hard to crystallise a big loss, but I'd bite the bullet and take any quote available. This isn't advice (as it could all work out), but merely what I'd do if I were a shareholder now.

[escapetohome] 31/8/2016 18:42

Is this a complete wipeout job or may there be something left for poor shareholders?

Hopefully we will find out soon.

[garbetklb] 31/8/2016 15:55

And they were 2 of the more independent and, in my view, credible Non-Execs.

Not, I must hasten to add, that I've thought there was anything credible about Gable for a v long time.

[effortless cool] 31/8/2016 15:29

Two non-execs resigning in one month ....

DOOMED!

[battlebus2] 31/8/2016 15:13

Not a great signal Garbetklb.....

[garbetklb] 31/8/2016 15:11

Non Exec Julian Connerty has resigned - no comment at all...........