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GAH Gable Hldgs

2.00
0.00 (0.00%)
27 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gable Hldgs LSE:GAH London Ordinary Share KYG3705F1019 ORDS 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 2.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.00 GBX

Gable Hldgs (GAH) Latest News

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Gable Hldgs (GAH) Discussions and Chat

Gable Hldgs Forums and Chat

Date Time Title Posts
22/4/202307:11GABLE HOLDINGS set to treble3,646
10/9/201310:32Gable: Full Year Profits and 2011/12 Outlook3

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Gable Hldgs (GAH) Top Chat Posts

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Posted at 11/12/2019 08:07 by solarno lopez
The Financial Services Compensation Scheme (FSCS) has revealed that £276m in compensation has been paid out to customers of collapsed firms Alpha, Enterprise, and Gable. New figures from the organisation place the price tag of each firm’s failure at £54m, £165m, and £57m respectively.


WITH THANKS TO INSURANCE AGE
Posted at 13/8/2019 09:19 by garbetklb
I hold Burford Capital - unfortunately!

There's been a lot of commentary about their valuation of legal cases with a very wide range of views expressed.

I've repeatedly thought of the comparison to insurance - where companies have long sought to assess the likely outcome of legal cases etc. It's a much longer established industry and the cases tend to be smaller & more numerous. But it's not dissimilar.

Gable is a good example of how it can all go wrong........

To be clear - I am definitely NOT drawing any likeness between GAH & BUR. Merely pointing out that valuation of cases isn't a new problem.
Posted at 22/11/2016 15:51 by thirdmanharry
Useless & Toothless FCA Confirms formal death of AIM casino disaster story Gable
Published 2 hours ago
The FCA has put out a statement confirming that it is all over at Gable (GAH). William "piggy" Dewsall has made £15 million, but shareholders have lost everything and now it seems that policy holders will be screwed too. Gable issued statements while its shares traded that were simply not true but will there be any action against piggy or hapless Nomad Zeus? Whaddya think? The FCA confirms the worst:
hxxp://www.shareprophets.com/views/25419/useless-toothless-fca-confirms-formal-death-of-aim-casino-disaster-story-gable

SCANDAL: PWC lays bare the £60 million black hole at Gable and the massive regulatory failure on AIM
Published 4 days ago
PriceWaterhouseCcoopers, PWC, is acting as administrator to the subsidiaries of Gable Holdings (GAH) and has published a damning report making clear the black hole that has existed there since the start of the year. The shares were suspended only on September 12. This is a scandalous failure on the part of Nomad Zeus and the Oxymorons at AIM Regulation.

hxxp://www.shareprophets.com/views/25352/scandal-pwc-lays-bare-the-60-million-black-hole-at-gable-and-the-massive-regulatory-failure-on-aim
Posted at 12/11/2016 09:26 by garbetklb
At a guess, BH didn't as they would have stopped doing business with Gable ASAP and I don't think they did.

I don't recall any particular shocks - except them finding that the ATE policyholder couldn't / wouldn't pay the premium GH had in their books. Although, to be fair, that was a pretty substantial shock. But they should never have been running / been allowed to run such a large risk. The company was reckless, the regulator incompetant - as I said a couple of years ago, the Board was singularly lacking in insurance experience.....

Otherwise, they didn't have any particular shocks - the problem was more of simply charging too little for too much cover. After all, what did they have to offer? Cheap price, wide coverage - and, maybe (because I don't know), higher than average commissions to the producing brokers?

Given a choice between a larger/better known company in a mainstream jurisdiction or Lloyds and Gable (Small, based/regulated in a mickey mouse jurisdiction, run by someone who had previously had a run-in with the FSA) why would you choose / recommend Gable?

The company isn't teetering on the edge of bankruptcy because of Solvency 2 - it's because claims + expenses have substantially exceeded premiums. And, within expenses, the ludicrous salary to Dewsell plus the fees paid to Hogarth, which he owns.
Posted at 18/8/2016 07:37 by eezymunny
Hmmm the ghastly rampfest continues here I see.

Links to very old articles etc. Hang your heads in shame.

There is very little equity left in GAH and they say "There remains significant uncertainty regarding the implementation of the Strategic Restructuring Plan and there is no guarantee that, following its implementation, the group will retain sufficient capital to enable it to support the proposed retained business. The Board has made good progress in its discussions with third parties regarding the implementation of the Strategic Restructuring Plan and on this basis, the Directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future. Whilst our negotiations with third parties provide the basis for the Board's view on Going Concern, this forms insufficient evidence for the auditors to form an opinion on the Group accounts."

ie whilst nobody knows exatcly what's going, GAH may be bust soon. Maybe not. Just so long as people are aware of that.... Beware the ghastly, mindless ramping - it's bordering on criminal IMVHO.
Posted at 09/8/2016 06:50 by dice1950
GABLE HOLDINGS REG (GAH) 4 STAR BUY
9th August 2016

Price and moving averages Price and moving averages has closed below its Short term moving average. Short term moving average is currently below mid-term; AND below long term moving averages. ...
Posted at 15/7/2016 08:26 by garbetklb
I read the RNS briefly - it doesn't seem to say anything constructive except idle waffle.

I can't recall a company who stopped underwriting restarting - my guess is that GIAG is a dead duck. And i'd be very surprised if the reserves prove adequate. I suspect the authorities in Lichtenstein are in for a nasty surprise. Without a bit more digging (which I've not time for as I'm on hols with my kids), I don't know which policyholders are likely to be protected by which compensation schemes to what extent - in the event of GIAG failing.

My 1st investment check is "Do I think the management are trustworthy & competent"; my 2nd check is "Is executive remuneration reasonable". For ME, GAH failed on both from the start.

EVERYTHING about Gable screamed out "Red Flag" - domicile, classes of business, ragbag of business written in multiple territories, lack of insurance experience on the Board, lack of details of underwriting/claims staff on website, ludicrous executive remuneration - even WD's picture! Google WD Hogarth FSA - I find it hard to understand how someone competent could get involved in issuing unlicensed EL policies. And he refused to tell me when asked in person - "confidential agreement with FSA".

If anything emerges, I suspect it will be around Hogarth - which is owned by? Not GAH but WD......

I'm v sorry for shareholders but I've tried, publicly & privately, to warn people of the problems emerging for a long time.
Posted at 03/7/2016 11:15 by the stinger
Shuffleman, for me it seems - get rid of all the previous bad news, get through the 2015 / S1 accounts in the next few weeks and its a fresh start. If they have £80m reserves or so to start on which may be sufficient for future claims then other partners may be willing to offer rated premium business,, then further decent rated deals may come along. Add on the potential S2 partnerships from Q3 then all is not lost. Further potential partnerships will surely be agreed in principle on the basis GAH are on a stable reserves footing.

Seems to me that's the plan, the share price will recover big time on this working,,or the business will fail . Simple as that really.

Assuming the shares re open following suspension and the accounts for 2015 ok then what value the market puts on Gable's chances of making it are an unknown. I am awaiting the report and outlook and will decide from there,, as it could be a multi bagger if things work out and they get the business/support.
Posted at 01/7/2016 09:22 by the stinger
max, and more. About 1.8m buys & 700k sells yesterday,,according to ADVFN. Still some big II holders around too, (unless changed) so who knows.

Garbet will either be correct or end up with egg on his face..soon find out. Saying that he has been right from 90p down over,,,not sure from 3.5p though?..one thing's for sure,,Garbet cannot leave this share alone for some reason..maybe he's made a loss when the share price was 60p +? as he was posting during the high's.

This could either explode on good news or be bust?..depends on how true WD's statement is..
Posted at 30/6/2016 16:54 by the stinger
Trade pattern suggests there's an II selling out,,, obviously that will have been keeping the share price down from the 5/6p levels. Once out and if there's any positive news GAH have held back on then this may treble very quickly. Too much negativity around here for whatever reason..

Tempted to get back in at 3.5p if so.
Gable Hldgs share price data is direct from the London Stock Exchange

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