Real Affinity Share Discussion Threads

[knowing] 19/5/2008 13:12

How totally unprofessional

RNS Number : 7731U
Real Affinity PLC
19 May 2008

Real Affinity plc

Adjournment of General Meeting regarding the proposed disposal of Conferaccom ("the
Disposal")


The General Meeting of Real Affinity plc ("the Company"), the AIM-listed marketing
services group, was opened at 10.00 a.m. today.

The Meeting was informed that completion of the Disposal required certain payments to be
made to Checkbase Limited and to Anita and
Chris Lowe. The funding of these payments was due to be made in part out of funds receivable
from the proposed disposal of another of the
Company's divisions. The timing of this latter disposal has not progressed in accordance with
the Board's expectations, resulting in the
Company not being in a position to make the above payments. As Shareholders have not had a
proper opportunity to consider the Disposal
adequately in the light of the changed circumstances and in order to provide more time to
address the funding issue, the Meeting was (with
the consent of the members present) adjourned indefinitely.

[knowing] 19/5/2008 10:37

Strange. Why blue?

[knowing] 12/5/2008 13:37

Sums this company up !!

[dweagle] 01/5/2008 12:22

Issue of Equity




RNS Number:5670T
Real Affinity PLC
01 May 2008



1 May 2008

Real Affinity plc

Issue of Equity


Real Affinity plc, ("Real Affinity"), the AIM-listed marketing services group,
has issued a total of 225,000,000 new ordinary shares to the vendors of
Corporate Hospitality Services Limited ("CHS").

The new ordinary shares are being issued as deferred consideration in respect of
the performance of CHS for the year ended 31 December 2007 under the terms of
the acquisition agreement (as amended) entered into between the vendors and Real
Affinity plc in December 2006.

The respective interests of the vendors, Ashley Metcalfe and Joanne Rawnsley, in
the share capital of Real Affinity, will increase to 135,227,273 and 135,227,272
shares, in each case representing 3.73% of the enlarged issued share capital.

Application has been made for the new ordinary shares, ranking pari passu in all
respects with the existing ordinary shares, to be admitted to trading on AIM.

Admission is expected to become effective on 8 May 2008.

The total number of voting shares in issue following admission of the new
ordinary shares will be 3,624,188,456, none of which is held in treasury.

For further information, contact the following:


Real Affinity:

Martyn Archer

Brent Fitzpatrick

0113 290 8730

HB Corporate:

Edward Hutton

020 7510 8600

[clarendon] 01/5/2008 08:40

Bad - thats what they have announced - sale of subsidiaries and becoming an investing company

[dweagle] 01/5/2008 01:50

actually sold for £1 + 2,ooo,000 mil debt so sold for £2,000,001 not ramping just a fact as I percieve it

[badhshah] 01/5/2008 00:40

It is a very very dogdy quick fired sale.
Who are running Checkbase? Anita and Cristopher Lowes.

Who are the directors of Conferacco? Again Lowes.

RAF will also pay four instalments of £50,000 to Checkbase and £300,000 to Lowes. Where does the money will come from?

I think when the sale will have completed and the Checkbase and Lowes have been paid off, RAF will go into administration. There is %50 chance of that.

The remaining business could be sold to Red kite for £1 and RAF could be declared as an investment company with no cash left hence effectivley bankrupt. there is 40% chance of that happening.

The CEO Charles builds up agency business with Red Kite as a largest shareholder. 10% chance of that happening but I don't think the management is sincere to run RAFagency business seriously as they have stated that they'll be selling all the businesses. After all the sales the company could be liquidify voluntarily.

There is 90% chance of failure and 10% chance of success.


I googled the name 'Checkbase' but could get no results, I think this company has been devised to dissmentle RAF.

[clarendon] 30/4/2008 22:29

Do you think that if I offered £5 and the same terms they would sell it to me?

[clarendon] 30/4/2008 22:23

Paid £2m for this in June 2006. Sold in May 2008 for £1.

[suncanaria] 30/4/2008 21:35

The one thing I can say is its a management cop out, they have failed in bringing down the companies costs and have not become profitable on 20m turnover over the last few years?

Sorry but many AIM company directors walk around as if they were Directors of BP. They themselves are too expensive.

[suncanaria] 30/4/2008 21:21

Too much. Venues was worthless, it had too much debt. Shareholders are shafted again, sorry but this one remains in the bin.

[clarendon] 30/4/2008 20:40

'The proceeds arising from the Disposal will be used for working capital
purposes'.

What all £1 of it!!!!!!

There no logic with this deal at all - anyone know how much they paid for this in 2006?

[johnmp] 30/4/2008 15:46

consolidation and share issue - thought they had ruled that out at the EGM, though they can always have another EGM for that.

[johnmp] 30/4/2008 15:45

sorry intrims are due now?

[dusseldorf] 30/4/2008 15:44

johnmp - results will have to be issued, it's a legal requirement else the company would be suspended. The results aren't due until September I thought? There 'may' be a planned reversal target hence redkite involvement, but is longshot at best... regardless I'm sure the price will bounce around before then - If you can offload some into any spike unless you are really in for long haul - though I would guess downside is minimal from current position. If they mention consolidation and share issue - run for the hills

[johnmp] 30/4/2008 15:40

Very heavy play for me Dusseldorf, all I can see is a large loss on my RAF shares.

Was expecting some results soon, does this RNS effectively kill of the issue of results so we dont really have an idea how bad or good RAF was becoming?

[dusseldorf] 30/4/2008 15:31

johnmp - makes me wonder what redkite were doing loaning £1m for convertibles, perhaps they are waiting for RAF to be trashed, convert equity and place a newco in the shell and be major holder

[johnmp] 30/4/2008 15:14

yes, have to agree appears you can sell without taking a big knock.

In the last few weeks you sold and lost, with this news the MM seem to accept the shares?

Is it good news that RAF issued today, or not. I only hope so? as I hold quite a few shares (alas not in cash terms) and would love to see RAF go up?

[dweagle] 30/4/2008 14:44

"johnmp - 30 Apr'08 - 13:46 - 1384 of 1386


DUSSELDORF, risky to hold but try selling. Not certain how many zeroes right of the decimal point you can get on aim before the 1 but sell more then 1 million RAF shares and we will soon find out. "

well; we have the answer 6 times to that one no change on the bid.... mind you now I've typed this it will fall like a stone LOL

[johnmp] 30/4/2008 14:04

Clarendon,

not certain about the word "cash" in RAF becoming a 'cash shell'.

Near impossible now, I assume the people buying a good section of RAF have first bite at the cherry (or is it a rotten apple core?). Unless we have a white knight (just a knight or any other rogue would do), then its a done deal.

[clarendon] 30/4/2008 13:58

So it becomes another cash shell searching for a reverse. Thats all of the shareholder value gone!

[johnmp] 30/4/2008 13:46

DUSSELDORF, risky to hold but try selling. Not certain how many zeroes right of the decimal point you can get on aim before the 1 but sell more then 1 million RAF shares and we will soon find out.