Ofex Holdings Share Discussion Threads

[responsible lad] 30/9/2004 13:34

Down again, lol. I am hoping they go as cheap as chips by close, since I want to make up what I could of gained on PET, if only I listened to my mate Logica2me.

[vision88] 30/9/2004 13:33

RL.
I got in a bit early, Below 8p but will average down today or tomorrow, dont think 4p is coming it might in bgy ? whog is looking interesting, bid has droped again.

[responsible lad] 30/9/2004 13:32

Hi vision88,

You are obviously on the ball since you sold out at HCR at the perfect time. I have been reading some of your posts yesterday on OFX and nearly went in with you. As I have a month that OFX is guarenteed not to go off the market in, I may double my investment in that time and sell out over half to make sure I bank a profit. I could see this going to 4p, though I got to say that since I can not get any money to put in till tomorrow morning. I shall post my trade before it goes threw tomorrow if there delayed, so you know its me.

[double6] 30/9/2004 13:30

will buy at 2p!

[vision88] 30/9/2004 13:27

RL. I THINK YOUR GET 6P RIGHT NOW , 5p bid dont see them going much lower , famous last words lol, but like you i do see these recovering ,they will raise more money thats for sure, and with there exspansion program ,2 tier ofex it will attract a lot of over seas clients, the ofex mkt is hear to stay.

[responsible lad] 30/9/2004 13:26

Just gone down again, YEHA, YEHA, just keep going down please. Investors who are in sell out as you can buy back cheaper for 5p or less, if you want to help me out for tomorrow.

[responsible lad] 30/9/2004 13:20

As OFX are in talks to raise capital beyond November, my bet is that they will and I will place that money on it tomorrow if the share price is below 7p still. Hopefully it will be 5p by then.

[responsible lad] 30/9/2004 13:19

Hi double6,
Keep an eye on INO, NEB, REV, QTR and mainly OFX like myself. I see that PET are up again today and you may be gutted like myself, though your used of it since you used to hold YOO at 1p and sold them for 2p last year, as well as many others you have done that with recently.

Kind Regards
Stephen

[responsible lad] 30/9/2004 13:13

I am going for a punt on these tomorrow if they are still as cheap as this price. I do not care if they are going to go bust since I believe that the Ofex market is here to stay. Please average down Vision88 now and if they fall again average down again, IMHO.

[eastbourne1982] 30/9/2004 13:09

Good call Vision88, you really do no your stuff, stop the ramping, who the hell is going to buy these.

[vision88] 30/9/2004 11:10

THE GOOD NEWS

The good news is that Ofex is hoping to raise working capital to support expansion across the country and probably even into Europe. Ofex is also looking to introduce two tiers within the market, one for premium companies and the second for ones not interested in too much exposure to institutions. Jonathan Jenkins told Unquoted Analyst that fundraising is an uncertain activity and the outcome could be either way, but this does not necessarily have to be read as negative. The company could bring in the monies (we suspect anywhere close to a million pounds) to carry on operations

[vision88] 30/9/2004 11:02

Sheba Exploration begins trading on Ofex

Another mining junior has chosen to list on Ofex. Sheba exploration announces its Ofex debut after having raised £182,000 through a pre-IPO fundraising. The company was initially hoping to bring in at least £300,000 in cash, and of the funds raised, £150,000 has been contributed by a committed investor - Starvest. Bruce Rowan, or Starvest now owns 31% of the company. Corporate advisors, Gateway Securities are currently in discussion with the Panel of Takeovers and Mergers to apply for a code waiver regarding this holding.

Sheba operates in Ethiopia and explores for gold and base metals in its own concession areas, the company is hoping to bring acreage to a drilling stage along with offering joint ventures on some of the licences. The management have worked in the area for over 15 years. Starvest's large stake is a bit worrying and although Bruce Rowan is known to be one of the bigger industry supporters, he does not have a reputation of being a long-term holder. We have no news as yet from his other Ofex investment - Belmore Resources. Sheba must be viewed as a new entrant to the industry and therefore like most mining stocks, this one is speculative. The shares remain unchanged at the issue price of 0.87p. The company is valued at £0.56 million.

[vision88] 30/9/2004 09:57

Masterdouglas

I think the entire ofex market is in for a big shake up now. your points to team up with sharemark and advfn , idea is good but it wont go that way, the 2 tier ofex idea is more likly to be adopted with say winterfloods being involed and one other mm

[topvest] 29/9/2004 22:30

Yes, this is very sad. Great opportunity for an investor to get in now though! Looks like OFEX are going to have to give away most of the value to whoever comes in as this is a clear sign that the £3m fundraising is struggling.

The way to do it is to chop the costs out of the business. £1m of opex in 6m is way too high.

In the back of my mind, I still think there may be someone waiting this out and ready to pounce.....when the Jenkins are most desperate. Let's hope so. We need a successful OFEX!!

[shirishg] 29/9/2004 19:41

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[shirishg] 29/9/2004 19:40

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[vision88] 29/9/2004 17:41

WINTERFLOODS TO MAKE MARKETS IN ALL
OFEX SECURITIES

The OFEX Membership Committee is pleased to announce the approval of the
application from Winterflood Securities ('WINS') to join the OFEX market place
as a market maker member - a 'specialist'.

The approval is conditional upon the move of the OFEX market into a competing
quote driven system during 2004, and is therefore subject to appropriate
regulatory and technical approvals. Once these issues are resolved, WINS have
undertaken to make a market in all OFEX securities. WINS have also agreed to be
represented on an OFEX advisory board, which is currently being put in place.
This will enhance consultation with our members to ensure any change to the
existing market model is implemented in a manner that benefits all members of
the OFEX community.

Jonathan Jenkins, Joint MD of OFEX said: 'WINS is a name synonymous with small
cap company trading and we are delighted that they have committed themselves
so fully to the expansion of the OFEX market. Existing specialists - Teather &
Greenwood Ltd and J P Jenkins Ltd - have also formally agreed to move to
competing quotes in 2004, and we have at least one further organisation in the
specialist application process, subject to the move to a competing model. It is
envisaged that all of these specialists will be represented on the advisory
board.'

Julian Palfreyman, Managing Director of Winterflood Securities, commented: 'We
are pleased to join OFEX and we look forward to offering a market making
service in all OFEX securities. This will bring further benefits to our clients
not only through the enhancement of our already substantial coverage of UK
equities but also by opening up access to OFEX securities via Winner - our
electronic trading service.'

[shirishg] 29/9/2004 17:40

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[vision88] 29/9/2004 17:38

(Updating with further details)
LONDON (AFX) - OFEX Holdings PLC, which announced wider first half losses,
said it is in talks to raise additional capital to fund its activities beyond
end November.
In a statement, the company said it has sufficient funds to carry on its
activities in the short term, but would require additional funding "to carry on
its business in its existing state beyond the end of November."
In addition, the company said subject to the outcome of the fundraising
discussions, OFEX will continue to explore a number of projects and initiatives
to enhance the OFEX model both domestically and internationally.
Funds raised will also be used to finance its marketing expenditure to
develop the group's product, increase its presence in regions outside London and
the South East, to promote its market more widely overseas and to enhance the
branding of its product.
As part of its re-branding, the company plans to split its market into two
tiers, a regular section and a premier section. The premier section will
showcase certain companies which meet certain size and liquidity thresholds.
The regular section will cover all existing OFEX companies who do not join
the premier section.
OFEX Holdings' wholly owned subsidiary, OFEX PLC operates the OFEX market in
the UK.
In the six months to June, pretax loss widened to 533,000 stg from 273,000
before.
It said income at 570,000 stg was 41 pct below budget primarily due to lower
than targeted levels of new admissions.
It is omitting interim dividend.
Although the number of new admissions to the OFEX market remained the same
over the previous corresponding year, and turnover was marginally up by 3 pct,
the numbers were "considerably below the level targeted."
In addition, there was a decline in the number of securities traded on the
OFEX market.
The number of companies leaving the market rose to 24 from 19 before, with 6
choosing to move to the AIM market.
[e-mail]
ra

[vision88] 29/9/2004 17:29

MASTERDOUGLAS

Apolgies for calling you names ,ofex will turn around, the recent fall is way over done, and the new shake will now clear out dead wood for green shoots and ACORN companies to root

[shirishg] 29/9/2004 17:17

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[vision88] 29/9/2004 17:16

the price is allready recovering ,tune in tomorrow for more excitment action and galloping recovery , mkt opens at 8.00am thusday/friday for lots of recovery, 4 isreal companies invited to join ofex ,more to follow from europe, rubish companies need not apply, the future looks very promising with OFEX