IN House Share Discussion Threads

[alibongo612] 04/7/2008 10:51

At 17% for £50k it would appear the gravy train is about to grind to a halt.

[haff1] 03/7/2008 15:13

...good point SS ... I withdraw my raise of half a marmite sandwich...

[sofa spud] 03/7/2008 15:10

Quote:....."""If the price falls any lower the whole company could be bought for two sausage rolls and a cup of Bovril. Might bid meself It'd be a good laugh"""

Don't forget all the debt you'll be taking on!!

[rbonnier] 03/7/2008 15:05

Dont think so waynerwayner the company has just given away 17% of the issued share capital for £50k which smacks desperation and bankruptcy smack bang right in the middle of the face.No one dillutes its shareholders by such a huge amount to raise such a tiny amount of money unless it was either that or the company would have to cease trading .

[haff1] 03/7/2008 15:05

LOL ...at that price I'd raise you half a marmite sandwich .....

[perception] 03/7/2008 14:01

If the price falls any lower the whole company could be bought for two sausage rolls and a cup of Bovril. Might bid meself It'd be a good laugh

[waynerwayner] 03/7/2008 13:28

A couple of biggies now showing as sold, lets hope they were sold through ihgp for a nice commission:

[sofa spud] 30/6/2008 13:39

Exactly! Where is the business model for borrowing money to buy """undervalued""" properties in a falling market to rent out when rents look like they might be going off the boil too?

[deanroberthunt] 27/6/2008 13:43

cos its not their money.......

[rbonnier] 27/6/2008 11:35

The problem I have is why did the company continue to buy all these properties in full knowledge that the property market was collapsing when it did not have the working capital to see it through what is obviously going to be a sustained period of falling prices .

Can anyone help me with that.

[deanroberthunt] 27/6/2008 10:00

lets do some simple maths......this screwd (oops, freudlian slip, I meant shrewd! or did I, lol) company, has over the last two years or so bought a plethora of residential property at the top of the biggest housing bubble since records began, with borrowed money....in a credit crisis...

since house prices have fallen some 10-20% depending on where one lives, and are likely to fall at least another 10-20%, possibly more....

doesn't take an Einstein to work it out......

[alibongo612] 27/6/2008 08:18

It is rumoured that Kahn and Cassidy are very close - don/t forget they were joint CEO's (?) before it screwed up the first time - now wouldn't it be interesting if Kahn/his family are behind Silverhall Estates.

[esrimeur] 26/6/2008 22:18

With MC's MC < the price of a listing/tripe supper, is this the AIM's first perpetual shell?

I'm expecting an RNS to the effect that IHGP has issued 20 million new shares to RNS in payment for issuing an RNS.

[rbonnier] 26/6/2008 21:17

I see on the 28th May the company appointed a new broker I wonder if the old one started to ask some beautiful questions !

[ed winchester] 26/6/2008 20:31

Boiler room swindler bankrupted by FSA

Thursday 26th June 2008: 12:49
By John Bakie

The FSA has obtained a bankruptcy order against Samuel Nathan Kahn, who helped boiler rooms illegally sell shares to UK investors.

Kahn had tried to get around his £3.7m liability through an Individual Voluntary Arrangement (IVA), but the regulator successfully applied for bankruptcy to reclaim the full amount from his estate.

At the time, Kahn was in charge of Chesteroak Limited and Bingen Investments Limited, which illegally sold shares through boiler room scams.

In January 2007, the regulator was able to freeze the assets of Kahn and his companies for dealing in shares without authorisation. In September last year, both Chesteroak and Bingen were liquidated.

Kahn admitted liability for claims made by the FSA on behalf of around 800 UK investors, but disputed the amount of £3.7m.

He then placed himself into an IVA in an attempt to avoid his liabilities, but the successful bankruptcy application means the full amount can now be claimed against his estate.

Jonathan Phelan, head of retail enforcement at the FSA, comments: “We will use every power available to us under the law, including freezing assets and making people bankrupt, against any UK company or person who helps boiler rooms steal money from investors.

“The bankruptcy order will ensure that Mr Kahn’s affairs are investigated which could mean that investors get some of their money back.”

However, the firms were not FSA authorised, meaning investors cannot complain via the ombudsman or make a claim from the Financial Services Compensation Scheme, and Phelan says investors should always check a firm’s authorisation before committing their cash.

[deanroberthunt] 26/6/2008 20:00

This is yet another AIM lesson, in the school of hard knocks for fleecing poorly educated numpties in the art of spotting a legal fraud....

there will be more....a sucker is born everyday and they'll take em for every penny they have.

[loverats] 26/6/2008 19:51

It will only be interesting to flies like you.

[rbonnier] 26/6/2008 19:45

Another point worthy of consideration is why the company proceeded aggresively acquiring properties when the market is in the worst down turn for years without the necessary capital to see it through .Todays shock fund raising giving 17% of the company away for £50K seems to me that the directors couldnt give a sh!t about the current form of ihgp unless they were genuinely on the verge of collapse ,£50k wont last long though.
Should this go into liquidation it will be very interesting who aquires their assets.

[loverats] 26/6/2008 19:39

Finally, how's your Ramco 'mega' short getting on ? From 29p wasnt it ?

lol !! what a muppet !!

[rbonnier] 26/6/2008 19:31

Yes I wonder Wiganer I bet we both have a good idea.What looks very likely now is shareholders are going to get wiped out here if not by severe dilutions like we have seen today or the company goes into liquidation .Once in liquidation the properties are the DBS problem who will send them to auction where they will be bought by well I think we both know the answer to that.
Shareholders should think very carefully .