Irvine Energy Share Discussion Threads

[5bag] 12/1/2013 20:08

To me, the old IVE is dead. Has been for a long time. Not emotional about it, its gone, simple as that. A fresh pair of specs is needed for looking at this new business, if they get it away alright. Cant speculate until we've seen what they are going to do. You never know, even with our vastly reduced share count we might see something back, but im not holding my breath.

[rs2ooo] 12/1/2013 01:48

I made intriguing calculations the other day, and they did cause me to raise an eyebrow as to how lucrative pay-day lending actually is.

Using Wonga as an example, and of course, this is hypothetical because they only offer short term loans, but consider this anyway.

Wonga.com website states representative APR is 4214%

So to borrow £100 over 30 days, your repayment amount is £136.72

The site doesn't allow you to borrow beyond 30 days, but lets assume you decide not to pay it off and you let the debt compound.

After 1 Year you'd owe £4200
After 2 years you'd we £180,000
After 3 years you'd Owe £7,500,000 (£7 million)
After 4 years you'd Owe £315,000,000 (£315 million)
After 5 years you'd Owe £13,000,000,000 (£13 billion)
After 6 years you'd Owe £557,000,000,000 (£557 billion)
After 7 years you'd Owe £23,500,000,000,000 (£23.5 trillion)

£23.5 trillion is double the entire U.S national debt!

When run properly, such a business can be lucrative.

Whether they can run it properly or not, or even get it off the ground is another thing altogether though.

It's also surprising the number of people who use such services, not necessarily poor people either. Kweki Adoboli was obviously a special case, but before his arrest he was earning a £360,000 salary, yet his primary current account showed payments to eight pay-day loan companies including Wageday Advance, Wonga.com, Payday UK and Pounds to Pocket.

There is something about the whole thing that keeps me interested in IVE, but like most here, just the name IVE conjures up emotions and stress.

In a way I do hope they find a backer and make something of it, but even then, the benefits to us are not likely to be far above zilch.

[spartan666] 09/1/2013 18:22

I agree tekket, big market and potential although lets see what happens with the Management of what IVE or whatever they will be called in future, will do......thats the interest thats important.....

[tekket] 09/1/2013 16:23

Might ... i say might ... be of interest!

[tekket] 07/1/2013 11:30

Anyone know if there is any sort of a deadline for this new P2P lending venture to get off the ground? The fund raising seems to be taking an awful long time.

[sparty1] 02/1/2013 15:54

THE COMPANY WILL DEAL WITH APPLICATIONS ON A FIRST COME FIRST SERVED BASIS.

There is no limit to the number of new shares you can apply for, however, if the Company gets applications for more than it has available, then they may 'scale back' the application we submitted for you. This means that you may get fewer shares on your application than you were expecting. As you hold your shares with a nominee you may have your election scaled back by a greater or lesser percentage than you would if you held your shares in your own name.


HA!... Madchick ...why would they communicate with shareholders...after all we only own the company...

[medved5] 21/12/2012 10:45

If this is the strength of PLC board members in the UK then no wonder we are all doomed.

[yorgi] 21/12/2012 10:43

Prize ones !

[paulie1] 20/12/2012 12:58

post it anyway whats there to lose, we lost it already

[madchick] 18/12/2012 23:10

I contacted the company to ask for an update. I also asked if I coud post the reply on the boards, but they said they would prefer it if people just asked them directly. Anyway, to be honest, they didn't really answer my question about what the status was after the corporate action (maybe I should have asked more bluntly about whether they'd raised enough money) and didn't tell me anything I (we) didn't already know. Perhaps if a lot of people start bombarding them with emails asking for information, they will set up an email list (never got anything from the investors list I originally joined) or update the website on a regular basis? The email is [e-mail] and it is Robert Allen who replies (I had to provide proof I was a shareholder - I think I did a screengrab of my IVE corporate action "trade").

[upthediff] 05/12/2012 13:52

Be nice if they'd tell us how they got on. Different management team, same attitude to shareholders.

[drrichard] 27/11/2012 15:57

Nope, had a nice conversation though. Understand that people are committing cash so, you never know!

[yorgi] 27/11/2012 15:40

Surely nobody has sent them a cheque.........

[paulie1] 27/11/2012 15:28

first direct sent me a shares certificate, expensive piece of paper!! nope heard nothing

[upthediff] 27/11/2012 14:01

Anyone heard anything?

[upthediff] 25/11/2012 07:46

LOL, you have a very wise wallet.

[joe8472] 23/11/2012 21:22

i got the email today from barclays aswell, hmmm let me see, i already invested £3000 in ive and lost it, now they want me to invest £1000 in the new ive, give me a minute, i'm just thinking about what to do, NO sorry ive, my wallet says NOOOO!

[driver101] 23/11/2012 19:33

I take it no one is going to invest then.