Infonic Share Discussion Threads

[h101] 10/2/2009 21:08

I've written to the administrators expressing my concern that the company could be sold to the same people responsible for its demise. I've now mentally written it off.

[joestraughan] 10/2/2009 18:18

broomsticks - it is likely that barclays had a hand in shipleys appointment to protect their interests? I guess some of the shareholders holding shares as consideration for businesses they sold to ifnc will also be considering some sort of action? Unless of course, they too are involved in taking a share in the new business?

Of course, if any new business does come to the market again, we must spread the word - and short it to death!!!!!

[broomsticks] 10/2/2009 18:11

The cynic in me asks, how impartial and objective can Shipleys LLP be when it has been appointed by the directors of Infonic?

From RNS Number 7424M of the 3 February 2009

"Further to Infonic plc's (IFNC) announcement of 23 January 2009, the Company has
been unable to secure further funding. As a result the directors of the Company
appointed today Robert Derek Smailes and Conrad Beighton both of Shipleys LLP,
10 Orange Street, London, WC2H 7DQ, as the administrators of the Company."
Mr Robert Smailes write-up is impressive; I note that his expertise is billed as 'corporate recovery.'



A partial definition of Shipleys expertise in corporate recovery is;

"Our recovery specialists identify the causes of financial problems and find solutions to help re-establish companies. This means that insolvency and, ultimately, the demise of a business can be avoided."

For whom, I wonder, will Infonic be re-established?

aimo,dyor

[borsya] 10/2/2009 15:43

I send an email to Robert Smailes and received confirmation (from Gemma S) that all my concerns will be reported to the Department of Trade & Industry .

[lemsoft] 10/2/2009 08:14

I think the date thing was a slip of the finger and been correct in the other place.

[borsya] 10/2/2009 08:11

It should be 2009 not 2006,

[h101] 10/2/2009 07:51

Thanks for that lemsoft. I'm going to email to Robert Smailes stating my holding and saying I agree with the sentiments of the enclosed letter.

[lemsoft] 10/2/2009 01:07

Lots more stuff on iii BB's... a lot of unhappy people who smell a rat. Will post the template letter for administrators.

[broomsticks] 09/2/2009 16:18

Joe, H101 and egoi,
Your thoughts are very much appreciated.

lemsoft, I have a lot to tell Mr Robert Smailes so as soon as my computer is returned I will e-mail him and ask to speak with him. I don't feel that an e-mail will adequately convey all that is to be discussed.

aimo,dyor.

[egoi] 09/2/2009 16:05

H101 - 8 Feb'09 - 17:14 - 1283 of 1293

Got this from HiGee on iii:
I placed a few calls to the adminstrators and the company on Friday and piecing together the information was told that there was more than one bidder for the business, including different groups from the company's management. Bit of friendly rivalry by the sound of it!

I understand that the administrators have chosen a preferred bidder and that we should hear the confirmation of who has won shortly.

'Friendly rivalry'? I could think of a few other phrases for what appears to be going on, assuming your source to be reliable!

Broom, commiserations.

[h101] 09/2/2009 16:01

Sorry to hear about your problems broomsticks. Been there with them all. At least I could fix the virus.

[lemsoft] 09/2/2009 15:27

From III BB's
=============

I understand from the Administrators that the sales may take place today
and shortly thereafter Sharholders will be told where they Stand

From what I could gather there could well be some directors of Infonic involved.

I did not feel that we investors were likly to be further involved
also got the feeling that there will be no money availible for us

however we need to wait and see

if you are unhappy about whats been going on
you can email Mr Rorbert Smailes

[e-mail]

he will be doing a report to the Department of Trade

its important that if you feel you have not been treated properly
to email him

[joestraughan] 09/2/2009 14:42

broomsticks - you have our sympathy.

[broomsticks] 09/2/2009 13:44

Thanks to everyone for your posts I am still around reading them all as and when I can.

Its' Sod's Law that, just now, I have a lot of personal problems, not the least of which is that my beloved dog died on the 5 February. I am also caring for a close relative who has to have oxygen for 16 hours a day.
Then to cap it all my computer became infected with a virus and has been taken away to be fixed. Now I haven't been able to get it back due to the roads being impassable, or so I am told. The result being that I am visiting a friend's house to use their computer.

I am still waiting to see what happens with Infonic and more importantly, before I make any disclosures about anything I have gleaned over the years,who it is that makes it happen.

aimo,dyor

[joestraughan] 09/2/2009 12:44

pablo - agreed - hope for the best, expect the worst!!

[pabloscaramanga] 09/2/2009 12:28

my view is that i have lost the lot. been here before (silicon valley, bula, 10 group).

dont get your hopes up. thats the risk with tiddlers.

[joestraughan] 09/2/2009 11:43

H101 - thanks. In theory, the company hasn't disappeared yet and might be saved from liquidation if a buyer is truly waiting in the wings. As we've all suggested previously, it depends on who ends up owning it, and do they actually buy it from the shareholders or just pick up the pieces on the cheap? Of course, creditors need to be protected first, but investors also need to be given some thought, as we own the company, not the management. Therefore, I'm sure we'll follow the current directors closely in their future pursuits!

We all know that investments can go wrong, but it's just when one feels the investment is walking into someone else's pocket, it becomes painful!

[h101] 08/2/2009 17:14

Got this from HiGee on iii:
I placed a few calls to the adminstrators and the company on Friday and piecing together the information was told that there was more than one bidder for the business, including different groups from the company's management. Bit of friendly rivalry by the sound of it!

I understand that the administrators have chosen a preferred bidder and that we should hear the confirmation of who has won shortly.

It will be interesting to see who has won and if there could be any conflict of interest issues.

[wolf_top] 08/2/2009 15:54

It has been pointed out that the private companies are in fact subsidiaries of Infonic Plc so no conflict or wrong doing may have occurred.
I guess we need to see wait and see what develops.

[rathkum] 08/2/2009 15:31

Is that why the FD was kicked out.