Ofex Holdings Share Discussion Threads

[fickena] 28/3/2004 10:14

I'll take it that you lost money on these an are bitter, so no point talking to you.

I have lost money on Ofex shares too, but have made more than I have lost.

Until you get hard facts I will let this thread die.

[fickena] 27/3/2004 18:56

Sreed,

Absolute rubbish.

Ofex is a tool for companies that either do not want to list or can not afford to list.

That is the reason that many to not go on to full listing, is that they didn't want to in the first place.

Yes Ofex is more risky than the main market, but unfortunately many of the companies don't make it big enough for the main market, but don't go bust.

I'll give you an example, Sunblush, was on Ofex, no longer why? Because it sold up it's UK base and is no trading on the Canadian stock exchange.

Ring them up and ask for statistics before making rash statements.

[sreed] 27/3/2004 18:40

thinks the maths will not be far off, sure they may be a HANDFUL that bought shares back and delisted but you know as well as everyone thjat the MAJORITY went bust

and the stats are from the ofex website!

[fickena] 27/3/2004 18:38

Sreed,

No it doesn't. I suggest you visit the next ofex show. Ofex is a cheap way of companies raising cash or reorganising their finances.

1. Some companies, raise cash for a couple of years then buy their shares back and delist.

2. Some are family owned (weetbix for example) and Ofex provides a way of selling all or part of your company, then you delist.

3. Some companies run low on money and withdraw from the market to save annual costs.

Ofex's yearly charge is tiny compared to the £100k a year it costs main market companies.

Yes some companies go bust, but your simplified math is not a way to do it. I suggest you ring them up.

[sreed] 27/3/2004 18:36

Ofex has traded approx 750 bargains this year - accorfding to the ofex website

YES THIS YEAR and its almost the END OF MARCH

cant see there's much money to be made here?

[sreed] 27/3/2004 18:05

from ofex site...

Current Data

Total no of companies using OFEX at present: 152

OFEX Historical Data

Total no of companies to have used OFEX to date: 495
Number of companies progressing to more senior markets: 86


THIS IMPLIES....

257 Ofex companies bust to date.....? Out of just 495?

[kickstart] 11/2/2004 13:20

Looks like there is some half decent buying today. The 11,000 trade is a purchase not a sale ( I bought them). There will be lots of news over the coming months as the marketmakers come in to play. I would not be surprised to see at least 50p by the middle of the year.

[kheldar] 03/2/2004 08:06

Anybody expecting any news on this one?

[waldof] 06/1/2004 14:43

Been watching this one.......has great potential.......keep waiting for decent pull back.....but it seems they have their PR machine in full swing...oh well..

[outsider] 06/1/2004 14:32

Slowly the scribes are realising that both Ofex constituents & ofex itself have a rosy outlook for 2004.

[r_bedding] 06/1/2004 13:07

That is dated today.

[outsider] 28/12/2003 20:15

Not only is Ofex doing well, but Ofex companies themselves seem to be attracting a lot more attention, hopefully ahead of new & increased investor interest as new market makers come on board.


Ashpool, Spectrum & Britannia finance, all have their merits the first two as recovery situations.

[dil] 24/12/2003 00:51

Probably be a New Year tip , fill yer boots :-)

[cat] 23/12/2003 16:51

lol - breakout!

[outsider] 19/12/2003 08:42

More good news

Fundraising of GBP 1,000,000, Conversion of Loan Notes and Appointment of Non-Executive Director
FUNDRAISING OF GBP1,000,000, CONVERSION OF LOAN NOTES
AND APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board of OFEX is pleased to announce that the Company has today
conditionally placed 4,000,000 Placing Shares with institutions and other
investors at 25p per share to raise GBP1,000,000 (before expenses) to provide
additional working capital for the Company.

Further, conditional on the Placing Shares being admitted to trading on AIM,
GBP610,000 of a loan note currently held by J P Jenkins Limited will be
converted into New Ordinary Shares at 35p per share.

In order to effect the Placing and Loan Conversion it will be necessary to
increase the Directors' general authority to allot shares pursuant to the Act.
The Placing and Loan Conversion are therefore conditional on the passing of
appropriate resolutions at an Extraordinary General Meeting of the Company to
be held on 12 January 2003.

The Board also announces the appointment of Mr Luke Johnson as Non-Executive
Director, conditional upon the result of the EGM.

THE PLACING

The Company is proposing to raise GBP1,000,000 by way of a Placing of 4,000,000
New Ordinary Shares at 25p per share, to provide additional working capital for
the Company. The reason for the requirement for additional working capital at
this stage is primarily to implement a competing market making system within
the OFEX market place.

The Company announced its intention to move towards a competing market making
system on 23 October 2003, following discussions with J P Jenkins Limited,
Teather and Greenwood and Winterfloods. Working capital is also required to
assist the further development of the Company's core business, as well as for
strategic marketing of OFEX internationally.

The Placing Shares have been placed by Seymour Pierce Limited, the Company's
broker, with institutional and other investors.

It is expected that Admission will become effective and dealings in the new
Ordinary Shares will commence on AIM on 13 January 2004. The New Ordinary
Shares, once issued and allotted, will rank pari passu in all respects with the
existing ordinary shares including for all dividends hereafter declared, paid
or made.

The Placing Shares will represent 18.58% of the enlarged issued share capital
of the Company.

NON- EXECUTIVE DIRECTOR

It is intended that, conditional on Admission, Luke Johnson, who is subscribing
for 1,354,000 Placing Shares under the Placing, which will represent 6.29% of
the enlarged issued share capital of the Company on Admission, will be
appointed as a Non-Executive Director of the Company.

Luke Johnson (41) is Chairman and principal owner of Signature Restaurants.
Previously he served as Chairman of PizzaExpress PLC and worked as a
stockbroking analyst at Kleinwort Benson.

Further details on Luke Johnson pursuant to Schedule 2(f) of the AIM Rules,
will be announced in due course.

LOAN CONVERSION

J P Jenkins Limited currently holds a loan, repayable by Kudosoption Limited, a
subsidiary of the Company, of GBP747,227 plus accrued interest at 6% per annum
from 2 April 2003. This loan is repayable in monthly tranches of GBP10,000
commencing 1 May 2004. The loan is convertible into Ordinary Shares at the
option of J P Jenkins Limited at 35p per share in the period May 2004 to
December 2006 and at 45p per share in the period January 2006 to December 2007.

The Directors, save for John Jenkins who is a director and major shareholder of
J P Jenkins Limited and therefore a related party under the AIM Rules,
considered that early conversion of part of the loan, whilst resulting in some
dilution for Shareholders, would benefit the Company's cash flow in the longer
term. Consequently they approached J P Jenkins Limited to request early
conversion and J P Jenkins Limited has indicated that it would like to convert
GBP610,000 of this loan at this time at 35p per share which will result in the
issue to it of 1,742,857 New Ordinary Shares.

John Jenkins will have a beneficial interest in 6,457,857 Ordinary Shares
following the Loan Conversion and Admission which will represent 29.99% of the
enlarged issued share capital of the Company.

Your Directors, with the exception of John Jenkins who is a related party in
connection with the Loan Conversion, consider, having consulted with the
Company's nominated adviser, Seymour Pierce Limited, that the terms of the Loan
Conversion are fair and reasonable insofar as Shareholders are concerned.

Jonathan Jenkins, Joint Managing Director of OFEX stated: "2003 has proved to
be a very significant year for us. The impending move to competing market
makers has been extremely well supported both within the financial community
and the media. The increased spread of institutional shareholders in OFEX is
testament to this. The fundraising now ensures this will be operational as soon
as is possible, and also allows OFEX to further enhance its model with
additional staff and projects as they become available in 2004 and beyond.
Luke's support and subsequent involvement on the OFEX Board, continues the
momentum created by the recent consultancy appointments of Simon Brickles and
Cyril Theret, both formerly of the London Stock Exchange. Such high calibre
additions to the OFEX team can only help drive the market forward and we are
therefore delighted to have them with us as we enter the New Year".

[outsider] 19/12/2003 08:41

More good news.....Mr H E Went has gone quiet.

Fundraising of GBP 1,000,000, Conversion of Loan Notes and Appointment of Non-Executive Director
FUNDRAISING OF GBP1,000,000, CONVERSION OF LOAN NOTES
AND APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board of OFEX is pleased to announce that the Company has today
conditionally placed 4,000,000 Placing Shares with institutions and other
investors at 25p per share to raise GBP1,000,000 (before expenses) to provide
additional working capital for the Company.

Further, conditional on the Placing Shares being admitted to trading on AIM,
GBP610,000 of a loan note currently held by J P Jenkins Limited will be
converted into New Ordinary Shares at 35p per share.

In order to effect the Placing and Loan Conversion it will be necessary to
increase the Directors' general authority to allot shares pursuant to the Act.
The Placing and Loan Conversion are therefore conditional on the passing of
appropriate resolutions at an Extraordinary General Meeting of the Company to
be held on 12 January 2003.

The Board also announces the appointment of Mr Luke Johnson as Non-Executive
Director, conditional upon the result of the EGM.

THE PLACING

The Company is proposing to raise GBP1,000,000 by way of a Placing of 4,000,000
New Ordinary Shares at 25p per share, to provide additional working capital for
the Company. The reason for the requirement for additional working capital at
this stage is primarily to implement a competing market making system within
the OFEX market place.

The Company announced its intention to move towards a competing market making
system on 23 October 2003, following discussions with J P Jenkins Limited,
Teather and Greenwood and Winterfloods. Working capital is also required to
assist the further development of the Company's core business, as well as for
strategic marketing of OFEX internationally.

The Placing Shares have been placed by Seymour Pierce Limited, the Company's
broker, with institutional and other investors.

It is expected that Admission will become effective and dealings in the new
Ordinary Shares will commence on AIM on 13 January 2004. The New Ordinary
Shares, once issued and allotted, will rank pari passu in all respects with the
existing ordinary shares including for all dividends hereafter declared, paid
or made.

The Placing Shares will represent 18.58% of the enlarged issued share capital
of the Company.

NON- EXECUTIVE DIRECTOR

It is intended that, conditional on Admission, Luke Johnson, who is subscribing
for 1,354,000 Placing Shares under the Placing, which will represent 6.29% of
the enlarged issued share capital of the Company on Admission, will be
appointed as a Non-Executive Director of the Company.

Luke Johnson (41) is Chairman and principal owner of Signature Restaurants.
Previously he served as Chairman of PizzaExpress PLC and worked as a
stockbroking analyst at Kleinwort Benson.

Further details on Luke Johnson pursuant to Schedule 2(f) of the AIM Rules,
will be announced in due course.

LOAN CONVERSION

J P Jenkins Limited currently holds a loan, repayable by Kudosoption Limited, a
subsidiary of the Company, of GBP747,227 plus accrued interest at 6% per annum
from 2 April 2003. This loan is repayable in monthly tranches of GBP10,000
commencing 1 May 2004. The loan is convertible into Ordinary Shares at the
option of J P Jenkins Limited at 35p per share in the period May 2004 to
December 2006 and at 45p per share in the period January 2006 to December 2007.

The Directors, save for John Jenkins who is a director and major shareholder of
J P Jenkins Limited and therefore a related party under the AIM Rules,
considered that early conversion of part of the loan, whilst resulting in some
dilution for Shareholders, would benefit the Company's cash flow in the longer
term. Consequently they approached J P Jenkins Limited to request early
conversion and J P Jenkins Limited has indicated that it would like to convert
GBP610,000 of this loan at this time at 35p per share which will result in the
issue to it of 1,742,857 New Ordinary Shares.

John Jenkins will have a beneficial interest in 6,457,857 Ordinary Shares
following the Loan Conversion and Admission which will represent 29.99% of the
enlarged issued share capital of the Company.

Your Directors, with the exception of John Jenkins who is a related party in
connection with the Loan Conversion, consider, having consulted with the
Company's nominated adviser, Seymour Pierce Limited, that the terms of the Loan
Conversion are fair and reasonable insofar as Shareholders are concerned.

Jonathan Jenkins, Joint Managing Director of OFEX stated: "2003 has proved to
be a very significant year for us. The impending move to competing market
makers has been extremely well supported both within the financial community
and the media. The increased spread of institutional shareholders in OFEX is
testament to this. The fundraising now ensures this will be operational as soon
as is possible, and also allows OFEX to further enhance its model with
additional staff and projects as they become available in 2004 and beyond.
Luke's support and subsequent involvement on the OFEX Board, continues the
momentum created by the recent consultancy appointments of Simon Brickles and
Cyril Theret, both formerly of the London Stock Exchange. Such high calibre
additions to the OFEX team can only help drive the market forward and we are
therefore delighted to have them with us as we enter the New Year".

[big black dog] 11/12/2003 08:21

Great to see my share rising.

Some of the more liquid stocks on OFEX are more liquid than their comparable AIM stocks. OFEX the best place to be!!!

[outsider] 30/11/2003 19:51

Well if you read Jonathan Jenkins latest interview the lag for new issues is considerable & I can understand that.

So I think a few will sit up & take notice next year.

[simonevans] 30/11/2003 19:16

Agreed, but only one decent ipo all year (Enhance Technology) means that things do need to turnaround significantly. For Ofex to survive I would expect some 10 new issues a month to be required - a long long way to go, but let's see what the first quarter of next year brings.

[outsider] 30/11/2003 16:49

Maybe Glen...who knows.

Funding or not Simon, Ofex is a niche brand that will without doubt be in demand if it were to hit problems, furthermore the market pushing it up 6.5p on Friday suggests they are not very concerned.....Outlook is without doubt the strongest it has been since it listed....hence the new high touched on Friday.

[glennborthwick] 30/11/2003 16:38

i wonder if he went =simon petherick

[simonevans] 30/11/2003 16:18

I have to admit that things may be on the turn here. Sentiment is definitely improving - and the AIM boss helping out is what I would take as the step change - all OFEX needs is a couple of successful new listings and this could start to go very well. I would be very pleased if OFEX became a major success - however, they may well need some more funding before then.

[outsider] 29/11/2003 10:38

Some quotes from the analysts latest comments:


quote:
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To find one new market maker in a week could be accidental to find two looks inspired.

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quote:
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This means that for the first time the lightly regulated (and cheap to join) Ofex market might offer member companies real liquidity in its shares.

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quote:
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With AIM becoming an ever more cumbersome and expensive place to list, Ofex really is starting to look like an attractive alternative.

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