Griffin Share Discussion Threads

[resourceful] 24/12/2008 14:43

What is happening

[encarter] 14/8/2008 23:15

I once nearly bought these at around 6p until JakNife opened my eyes. Thanks mate i owe you a drink.

[vision88] 14/8/2008 20:14

yet another slimmy dirtbag of a company riping off its shareholders, sue me if you like ,i look forward to it

[tiredoldbroker] 07/8/2008 10:59

I just hope andysand didn't actually buy the stock when he started this thread.

[resourceful] 14/7/2008 17:41

What is going on, anyone???

[resourceful] 14/7/2008 17:41

What is going on, anyone???

[markt] 28/9/2007 15:48

JakNife
You know about S.Dean.

What about NICHOLAS BARHAM ?

Do you think he is similar , or not ?

The boss of Arlington. ARL

Excercised millions of warrants/options well below the official price.....since he managed to get the rest of directors to agree...
but in same year large bonus's were paid, ....were they pay offs for agreement ?

Running cost this year 2.8 million pounds....
...but the company does not appear to do anything ??!!...only invest in other investment funds !!

so ...are the directors paying massive amounts to themselves ....as you say that Mr S.Dean is doing.

AGM is in ....Hongkong...so difficult for any shareholder to complain.

And of course the accounts do not tell you much, to keep the details secret from shareholders and the market.
You know about S.Dean because you have done some digging and pieced info together....that needs changing so that ordinary shareholders do not need to be detectives.
Will the LSE do anything ?...Naw !! It is an old boys club. Regulates itself.

[markt] 20/9/2007 12:27

JakNife
...I agree with you about S.Dean.......

Dissapointing that UK stk market allows it...
and other dubious directors to operate

At Arlington the main director did a dubious deal....
...had warrants with exercise price of X and he exercised them at lower price !! , loads and loads of them, so that the warrants would not affect any deals is what they said !(indep. dir. agreed) and another director got a big extra that year as well, looked like a silence pay off

the list goes on and on

the LSE and AIM have many dodgy directors and dodgy practices...

but since it controls itself there is little control....they will not bite the hand that feeds them....

and the FSA....well useless. Pension mis selling etc etc. They always arrive after the money has been stolen/taken.

[wiganer] 10/9/2007 08:40

It's a good job for you that Attila the Hun is long dead and therefore cannot sue for libel.

[markt] 09/9/2007 16:06

JakNife

do you think that the placings....is a way for the dirs. to increase their stake in the company....in 1 go...

and then jiggle the numbers to get the share price up....ie. load up with shares before pumping up the share price ??

Any views ?

[don muang] 08/5/2007 04:55

JakNife.... thanks for that info .....
Does Mr.Dean still have an active interest in any Plus/Ofex companies - or have Square Mile disposed of it all .......?

[don muang] 07/5/2007 10:38

Seems 2006 results were mailed to shareholders last month .... any shareholder out there have the info on what Dean's received in 2006 as his bonus package(s)?

[25cent] 06/3/2007 13:09

Griffin Group (LSE: GFF)

Griffin Group at first sight is the best value share on the market:

Historic PE = 2.1


Discount to tangible net assets = 61%


Earnings per share (EPS) up 135% in the year to 30-9-2006


Directors own 25% of company


Four years of profitability


The FD bought 1m shares at 3.25p in November
The company creates investment companies and floats them on Plus Markets (was Ofex).

What can possibly be so bad that I haven't bought a shed-load? The answer lies in the directors' remuneration in the Annual Accounts. The most recent (2005) show that the Chairman, Stephen Dean earned £84,000 and the FD Vince Nicholls £48,000. However their bonuses were £2.7m and £591,000 respectively. Total directors' remuneration was £3.6m. This was more than six times pre-tax profits and 34% of turnover.

The company will not reveal the bonus formula, but it's been approved by the remuneration committee, so it must be OK, right? This brings us to my favourite sentence in the Accounts.

'The Remuneration Committee currently consists of Stephen Dean, Chairman.'

Turnover fell by 2% in 2006, and gross profit by 12%, so how did EPS rise 135%? Administrative expenses fell by £0.65m. The bonuses are not revealed in the preliminary results, so we'll have to wait for the 2006 Accounts to see why.

There is no broker forecast for 2007 and since the bonus plan is a secret, visibility of earnings is rock bottom. Even its paid-for analyst, Growth Equities & Company Research, says: 'The credibility of this company's management is not high.'

I still keep looking at the PE and asset discount. They are at crazy levels even with the unsatisfactory director payments. The directors could make the share price jump if they wanted to by cutting their bonuses. However, capitalisation of Griffin Group is a tiny £0.9m, so Dean and Nicholl's holdings are worth only 7% of their 2005 pay-packet. A rise in the share price is small beer compared to their bonuses.


(From m.f)

[indianconnection] 02/2/2007 18:31

JakNife

You seem to know a lot about Griffin and Stephen Dean

Does he has any connection with Square Mile securities who try to sell shares in various companies to private investor at supposedly lower price then the
bid price or placing price!

All though Square Mile are FSA athourised I would like to know "has any one traded through them and have lost or made any money?"

At present they are promoting AVD - Avid Holdings and guess what the chairman is Stephen Dean. Good that I checked this BB.

Well done JaKNife

[velvetide] 03/1/2007 14:31

well done, limited downside by the looks of things - famous words...