Neteller Share Discussion Threads

[recruiter] 13/7/2007 15:46

therefore if they do (& I still think they will) delist, then all shareholders should go all out for the Management & make as much noise as possible, as in all respect, this is an ongoing profitable cash generative business.

9 out of 10 businesses that delist do so because they have gone under, not because management have cowered in a corner & come up with a lame excuse, yet still have a strong if not much smaller business.

We are being screwed ladies & gentlemen, no 2 ways about it.

[recruiter] 13/7/2007 15:43

this blurb is on the website (dated 4th June). Note the 2nd paragraph. For this reason alone, the company should not suspend shares from AIM.

When will NETELLER announce its 2006 financial results?
The Company today announced on 28 June 2007 that due to the ongoing investigation by the US authorities, the annual audited accounts for the year ended 31 December 2006 will not be finalised in time to send to shareholders by 30 June 2007 in accordance with the AIM Rules. The Company can confirm that the outcome of the investigation is the sole matter delaying the finalisation of the accounts. Consistent with its advice to the USAO to use its best efforts to resolve the investigation by no later than 13 July 2007, the Company is doing its utmost to finalise and post its audited accounts and to announce its full year results for the period ended 31 December 2006 to the market.


Does the company have enough cash to run its business?
The Group's own cash position remains strong and the Group currently has sufficient working capital to fund all its customers' balances as well as ongoing requirements of the business.

[richardsj] 13/7/2007 14:39

yes. BUST.

[tipsheet] 13/7/2007 14:25

Are we expecting an annoucement today?

[dan1man] 13/7/2007 11:01

i guess they did say tehy expected a short delay on the last one.

[sabre1_98] 13/7/2007 10:48

wot no update?

[slogsweep] 12/7/2007 11:04

Is Gordon's scuppering of the Casino the start of the fight back?

[playtime99] 12/7/2007 10:59

Forgive my ignorance but do AIM rules require annual accounts to be audited, before they are released to the market? I note some interim accounts are released to the markets unaudited. If unaudited annual accounts are allowable can't NLR publish the accounts unaudited and include within them an allowance for repayment of US customers (with audited accounts to be published at a later date). At least this would quantify a worst case scenario for investors and we could all move on.

Any views on this would be appreciated, thanks.

[richardsj] 12/7/2007 10:48

This ends on one basis - THE SIZE OF THE FINE/SETTLEMENT.

[recruiter] 12/7/2007 08:31

well love to say its been fun - but it clearly hasnt.
Inept management that have bent over & said thankyou afterwards doesnt help.
I still think using the USAO & ex-Directors as a reason to keep this de-listed has been a total farce.
De-list, private company, do what they want, take all the money & live the high life - is alledgedly what they could do.

[polaris] 12/7/2007 08:23

It is true that the announcement from FTSE does not implicitly state that NLR will be fully delisted - maybe NLR or FTSE should clear this one up to prevent any misunderstandings.

As for the figures minus Canada - i did not do those as it was a material part of the remaining business and there was no way i could take into account membr loss from the bad press in other areas. Right now i am not sure whether NLR even has a profitable business remaining as we have had no updates since Feb and certainly nothing since the pull out from Canada. If the cash position is still in place at $250m, assuming that there are no fines to NLR itself, then i can see a £1 for any relisting. Unless we see a current trading update from the remaining business it is hard to put any valuation on it. Sadly, for me, that means tat any relist will be around £1 unless there is some significant news (positive) from the company.

Ill even admit i was wrong here - did not think it would drag out this long and that NLR would come out of it unscathed. The pull out from Canada was a disaster for the business and from a PR PoV. The plea bargains from the co-founders do not help one bit as they have admitted conspiracy to save their own skins. Having done that NLR business has been shown to be built on 'illegal' money transfers. I am sure that the USAO will want their piece of flesh from NLR and its part of the reason the auditors will not sign off the 2006 accounts. If there are any other irregularities then i will be joining any legal action against NLR (this refers to the cash position of NLR more than anything else or any prior knowledge that NLR knew business was 'illegal' in their records).

regards,

Paul

[welsheagle] 12/7/2007 08:02

Neteller Update on US Situation


RNS Number:1079A
NETeller PLC
12 July 2007


NETELLER PLC (the "Company")

UPDATE ON US SITUATION REGARDING FORMER DIRECTORS

Thursday, 12 July 2007 - NETELLER Plc (LSE: NLR), the independent global online
payments business, today issued the following statement regarding the
announcement on Tuesday, 10 July 2007 by the United States Attorney's Office for
the Southern District of New York (USAO) regarding Mr John Lefebvre, one of the
Company's former directors and founder shareholders.

According to the USAO announcement, Mr Lefebvre has pleaded guilty to a charge
of conspiracy in connection with his role in NETELLER's prior involvement in
handling financial transactions between gambling customers in the United States
and offshore internet gambling businesses. In relation to this charge, Mr
Lefebvre also admitted to allegations requiring him to forfeit at least US$ 100
million jointly with Mr Stephen Lawrence, who pleaded guilty to a similar charge
on 29 June 2007.

Other than as shareholders, neither Mr Lawrence nor Mr Lefebvre has any current
position with or connection to NETELLER.

As stated in the Company's announcement of 2 July 2007, NETELLER is continuing
to cooperate with the investigation being conducted by the USAO, under the
advice of its legal advisers and in accordance with court orders in the Isle of
Man. The Company remains in discussions with the USAO for the purpose of
resolving the investigation and has advised the USAO that it will use its best
efforts to resolve the investigation on or soon after 13 July 2007. However,
the Company believes that these and other recent developments will likely delay
its efforts to resolve the investigation by a short period. A further update
will be given on 13 July 2007.

The Company's ordinary shares will continue to be suspended from trading.
Further information will be announced as and when it becomes available.

[stegrego] 11/7/2007 23:39

Could do with this coming back cos i need the tax loss to balance out all my gains!!

[dan1man] 11/7/2007 23:35

Is being delisted from AIM indicies the same thing as being delisted from the AIM itself?

Just because it is removed from indicies why should that stop it being traded on the AIM?

The statement seems odd given NLR seem to be coming good on their promise of having everything resloved as far as possible by the 13th.

Is the news really as bad as people here are portraying?

[clarea] 11/7/2007 22:19

think thats it for us fellas even if somehow they do relist anyone thinking of
these shares comming back over one pound is dreaming; would love to be proved wrong as i am a holder; but the negative feel for gamings stocks; possibilty of a large fine; loss of two main markets all load the bad news side; with no positive news to balance against this and market in general looks like its starting to top out also.
As i say hope i'm proved wrong but feel 60p would be a result if they relist at all; all the tipsters were saying avoid but piled in on the back of dermot desmond poss launching an offer for the company so lesson learned for the future.
Good luck all heres hoping to be proved wrong

[grbaker] 11/7/2007 22:03

By the way... further to my two posts above, this is copied from Netellers FAQ page on their web site:

"
Why are NETELLER's shares still suspended? What are the technical grounds for suspension?
As mentioned in our press release of June 4, 2007, the Group's shares remain suspended in view of the continuing uncertainty arising from the US situation, although the Company is making progress toward the restoration of trading. The Group is working with its advisers to attempt to restore the shares to trading and any relevant announcement will be made at the appropriate time.


Can I trade in NETELLER shares given the shares are suspended?
As the shares are suspended, no trades are possible.


When will NETELLER announce its 2006 financial results?
The Company today announced on 28 June 2007 that due to the ongoing investigation by the US authorities, the annual audited accounts for the year ended 31 December 2006 will not be finalised in time to send to shareholders by 30 June 2007 in accordance with the AIM Rules. The Company can confirm that the outcome of the investigation is the sole matter delaying the finalisation of the accounts. Consistent with its advice to the USAO to use its best efforts to resolve the investigation by no later than 13 July 2007, the Company is doing its utmost to finalise and post its audited accounts and to announce its full year results for the period ended 31 December 2006 to the market.
"

So, if we/they are waiting on the USAO, then surely the USAO will delay won't they? It's not like the USAO are on the side of shareholders or anything is it?

Anyway this is my final post here tonight, I hope the above is useful and that it hasn't already been posted hundreds of times before...

...good luck to everybody unfortunate enough to hold shares in NLR (like me) and I can only say that there's no more of my hard-earned cash going into any AIM stocks again.

Let's hope that NLR puts out some sort of news soon, as frankly the lack of info from them takes the p*ss IMHO.

[grbaker] 11/7/2007 21:46

Does anybody know what actually happens to the shares if/when they get deleted from AIM on the 16th as per the news feed from 11/07/2007... I understand that there is a possibility that the shares will resume trading soon, but there's no new news to support that is there?

So does anybody know what actually happens if NLR is deleted from aim - have we all lost our money in that case?

Sorry to sound depressing here, by the way...

[roverisback] 11/7/2007 20:45

looking was 250p relist price...things have improved alot

[topgunns] 11/7/2007 20:42

Hope you're right dan but i think that's an optimistic view. These will trade well below a pound surely? There will be no rhyme or reason. Many will just bail straight away with everything that has happened.

Hold my hands up. Haven't worked out the numbers minus canada etc. Think you did polaris? Would appreciate it if you remind me of your estimates. Gambler as i am, looking to take a position again amidst the confusion.

[grbaker] 11/7/2007 20:40

" Neteller to be deleted from FTSE AIM All-Share indices

LONDON (Thomson Financial) - FTSE said Neteller PLC will be deleted from the
FTSE AIM All-Share index, FTSE AIM 100 index and FTSE AIM UK 50 index with
effect from July 16 following the continued suspension of trading of its shares
on AIM for a period of six months.
Neteller's shares were suspended on Jan 16 pending clarification after the
detention of its former directors and founder shareholders Stephen Lawrence and
John Lefebvre by the US authorities. "


Anybody got any comments on the above News Feed?

And what does that mean for shareholders... do we kiss our investment goodbye when it's de-listed or can the stock be re-listed later?

I am assuming, obviously, that if the any re-start in trading depends upon the yanks then that will not happen by the 16th...

[dan1man] 11/7/2007 20:04

Maybe a relisting on the 13th at £1.50 a share? Higher if there is a favourable trading update.

[topgunns] 11/7/2007 18:59

Dan this situation keeps on getting sadder. Dire times. Who knows what will happen?

[richardsj] 11/7/2007 17:07

IF it relists.............
Monstermob has maybe given manglement an idea.........