Spdr Glob Infra Discussion Threads

[euro99] 18/6/2003 11:48

i've never held GIN nor considered it to be honest i wasn't even sure that it was listed although i am somewhat familiar with the operations of GBM.

exactly how 'irrelevant' was GBM to GIN? I CANNOT BELIEVE that the directors could breach aim rules and get away with it.

[zapa] 18/6/2003 11:43

At this point in time euro99 what would you suggest,phone,e-mail,letters banging on the door.We took our chances and didnt ask to many questions.
How long have you held?

No dont tell me you sold out for a profit just before the news that A. Regan was on board.

[euro99] 18/6/2003 10:22

i can't believe that shareholders are taking this so easily.

[infamous academy] 18/6/2003 10:20

RBonnier

I suppose what matters also is if there were any cross company guarantees in place with GBM & GIN generally which materially effect the issue.

[tony14] 18/6/2003 00:57

RNS Number:4218M
Gaming Insight PLC
17 June 2003


Gaming Insight Plc
("the Company")


Further to the announcement made on 10 June 2003 regarding the suspension of
trading of the Company's shares, the Company makes the following announcement.

Winding up proceedings were instituted against Go Barking Mad Limited ("GBM") on
17 April 2003 and were disputed by GBM. GBM is the principal trading subsidiary
of the Company. The Company owns 51% of GBM.

GBM had not created the cash-flow that was expected due to a number of factors.
The Company hired consultants expert in gaming to conduct a strategic review of
Go Barking Mad Limited.

On 4 June 2003 another substantial creditor of GBM joined in the winding up
proceedings.

Following the presentation of the strategic review, the Board of the Company has
decided not to oppose winding up proceedings for Go Barking Mad Limited that are
taking place on Wednesday 18 June 2003.

The Board of the Company is continuing to explore ways to refinance the rest of
the Group. A further announcement will be made in due course.

Stuart Polak has resigned as non-executive director of the Board of the Company
with immediate effect.






This information is provided by RNS
The company news service from the London Stock Exchange

[euro99] 17/6/2003 15:47

surely there should still have bn an rns when proceedings began? What was gbm investment at valued at on GIN's books?


and theres the a regan issue still.

[rbonnier] 17/6/2003 14:53

Well now that gbm pile of cr@p is gone we may or may not hold shares in a profitable company.Casino operations made a profit of 800k last year which included Harrods but we dont know what Harrods contributed.Hanging by a thread still wonder how long we will have to wait for the next exciting installment!

[2francs] 17/6/2003 14:38

If winding up proceedings against GBM were instuted on 17 April 2003 why was there no announcement?
It might explain why the share price started to rise at the end of April?

[zapa] 17/6/2003 09:38

rbonnier

Thanks, you are of course correct it isent over till its over.

[euro99] 17/6/2003 08:32

rbonnier.. which makes it all the more interesting, don't you think?

btw i have no position in gin, no axe to grind.

[rbonnier] 17/6/2003 08:14

zapa you havnt lost your 6k until the fat lady sings!hopefully that wont be the case although still remains fav for the share price
Andrew Regan in charge of gbm sure about that everyone are we???? first I knew have a look at last years results it gives the name of who was in charge and it isnt Andrew Regan if I had seen him associated with gbm I would have sold long ago!!!

[zapa] 17/6/2003 00:42

Back in September 2002 or November 2002, Mr Victor Chandler was interviewed by Golf Monthly and in the article he talks about his various betting outlets but when he comes to greyhound racing he says it is a diminshing market.

Why did he involve himself with GBM?

A wage packet perhaps.

It will be interesting to see if he distances himself or he has other ideas re his flourishing bingo plans(see ATE-ONLINE).

[euro99] 16/6/2003 16:44

yup. andrew regan of co-op fame.

[zapa] 16/6/2003 16:37

euro99

not andrew regan of the co-op?

[the pink pound] 16/6/2003 16:37

JUAN1 - The problem is - anyone could be saying anything on here, as most have their own agenda.

My comments above were real facts....at the time, the owner of the aforementioned stadium was looking at sueing for payments promised, which were not received.

You also have to remember that the gambling world is many times more murky than the markets.....although when the two merge you are bound to get trouble!

I wish you all the very best, and hope it works out for you.


The pink one

[juan1] 16/6/2003 16:33

Has anyone checked out James Hunt's version of events, as I for one have not seen any press or financial news reports relating such???
He was going to reveal all those involved. Hmmmmmm?

[euro99] 16/6/2003 16:31

FYI andrew regan is, or was, in charge of gobarking bad

[zapa] 16/6/2003 16:25

Didnt James Hunt say to-morrow(Tuesday).


Just found his post

"next week they are in court...."

[the pink pound] 16/6/2003 16:25

Just thought I would reiterate my post from October.........



the pink pound - 23 Oct'02 - 15:04 - 17 of 205 edit


I know the owners at Kinsley Greyhound Stadium, which signed up to GBM. They are in the process of legal proceedings, as GBM have renaged on all payments so far.....avoid with a bargepole chaps and chapesses


Remember boys n girls.....follow the pink an you'll stay in the Black.

LoL!

[rbonnier] 16/6/2003 15:25

When are these clowns back in court?

[zapa] 16/6/2003 15:19

All this waiting is proberbly to give the impression of frantic negotiations,
after the court hearing we will hear the excuses.

Make a note of their names.

[rbonnier] 16/6/2003 14:15

Its all pie in the sky at the moment but turnover to 30/6/02 was 7.5m this figure does not include any figures from gbm but does include Harrods casino which we dont now run.The racing site generates a small profit with many users.
The company really should inform the shareholders now of what is going on ie gbm sold/closed down/given away to Newcote etc etc

[2francs] 16/6/2003 13:52

Telegraph article:

Game is up for Gaming

Gaming Insight, the internet betting company, was a Sunday Telegraph tip of the year in 2001 and has been a long-time favourite of ours. Mistakenly we bought into the idea of 24-hour greyhound racing and branded casinos. Last week the company suspended its shares "pending clarification of its financial position".

We should have revisited this tip more recently - we last updated readers over a year ago. It all looks very messy. Only a few months ago shareholders were told that everything was progressing well. We hear the company's founders hope to salvage a business focused on the online casino division. We hope they succeed, but readers should not get their hopes up.