Vantis Share Discussion Threads

[egoi] 05/11/2009 10:34

I think all the news is 'out there' now, good and bad, notwithstanding there might be a funding to come at around this level, larger especially if they are looking at acquisitions for example.

As a general market rule, the market likes having the news, and that often leads to a short period of share price consolidation followed by a strong rally imho (look at Carpetright for example). That's what I expect here, with trading since May looking decent, unless wider markets totally tank of course.
Also the supposed threat of suspension, which I never took as other than fantasy myself, has gone anyway.

As for the idea that TNO could get this company for 25p, big lol imho, wishful thinking maybe from some people? 60-80p more like I think!

[pugugly] 04/11/2009 13:26

agreeable:> Yes but why did they split up ? He may know them "too well".

Why merge/TO when you have to take all the potential rubbish (you only have to look at the problems Lloyds discovered after t/o of HBOS) BUT that is for another thread, when you could cherry pick the clients and the managers.

Clients in my experience like security and I would not be surprised if some were getting very itchy feet

(imo & dyor etc - Do not hold but on watch list for ages)

[agreeable] 04/11/2009 13:01

Interesting to note that two of the senior Directors of VTS are ex partners of Bob Morton the Chairman of Tenon.
just a thought

[lapiteau] 04/11/2009 12:28

Hello Agreeable

I have to say, I am in agreement with you. They are simply not generating fees at a sufficient level to deal with their burden of debt. I am not sure however that they would succeed with a rights issue in this climate coupled with their recent coverage in the press - even at 25p.

There has been some talk of a Tenon take over for some time on this board and I see this as possibly the only option left. Presumably, they would want to cherry pick the best bits and this could see a break up of the company's current structure (a bit like Numerica).

As the board hold the vast majority of the shares, I think they are unlikely to step down unless there is a significant cash offer. Jackson is already significantly down on his recent £2Mill investment which I believe was at 75.75.

Would be interested to hear any other views.

Lap

[agreeable] 04/11/2009 11:16

The company is heavily over-indebted, the results mask all kinds of misdeeds from the past imho. I do not think the company will go bang but would expect either deeply underwritten rights issue at say 25p or a takeover probably from Tenon at about the same price.
The company cannot generate the amnount of cash needed to pay down the debt, the simple sums tell you that. I believe the banks have only agreed to step in because they have some kind of assurance that a secondary funding is possible.
I do believe Ashton and Jackson will have to step down and that a new management team will emerge.
I believe that the 'hunter gatherers' days are passed and that the 'farmers' will now come in and try and grow the business from here
Short term however only more pain

[pugugly] 04/11/2009 08:24

battlebus:. Yes.

[qs9] 03/11/2009 17:40

Hopefully they can start to show "clean" results from now on and pay down the debt....simple delivery is what is required

[battlebus] 03/11/2009 17:33

Pugugly are you talking about the same share?

[pugugly] 02/11/2009 09:18

No volume wide spread - even if any value would be unable to buy in quantity. Same if you tried to sell.

[isis] 02/11/2009 08:47

Something very strange about this Company - Bargepole.

[battlebus] 02/11/2009 08:05

Recovery should be from here on so happy to add. Write downs should be mostly taken care off in this half.

[qs9] 02/11/2009 07:18

Results are out, underlying £11m actual result massive loss.

I suppose if you can actually look forward on these, "trading in line since May 09" then these may represent good value now so much of the past has been cleared out...let's see.

[egoi] 31/10/2009 08:11

I guess either the results are out before 8am on Monday or the shares are suspended for a few days or however long it takes until the auditors finally finish their job.

I have to hand it on this occasion to agreeable as it appears that he was right that the auditors were struggling.

Red faces all round imho!

[lapiteau] 30/10/2009 23:44

What happens now?

Anyone?

[romi2nikki1] 30/10/2009 17:55

A few smallish buys, against a spookily quiet day. Directors kids perhaps. A holder.

[jeff h] 30/10/2009 08:06

No results...I expect they'll be issued later but I'm not hanging around so
I've disposed of my 10k.

Best of luck to holders.

[egoi] 29/10/2009 16:03

Any good to anyone round here? -:))

[battlebus] 27/10/2009 18:33

Heading the right direction for now.

[egoi] 27/10/2009 14:41

Sounds like something that happened a while back? obviously misappropriating client money the bloke'd get what is coming to him if proved guilty.

I see it is, or would be, a civil action (if it ever gets to that stage of course).

I'd imagine many accountancy firms who like to 'exercise' tax laws to their extremes, which after all is what they are in part anyway paid for imho, face such cases from time to time.

And ahh yes poor, dear old 'Ernie+co'. Is English GCSE a qualification these days? -:)

Presumably if there was a real problem they'd found 'that hard', they'd have resigned a long time ago imho, but Nope!

[qs9] 27/10/2009 14:34

Looks an interesting one, hopefully PI insurance will cover any threat of costs? Looks over sold if this one issue can be managed successfully IMO

[agreeable] 27/10/2009 09:12

Anyone see the attached article in Sunday Mail, another example for egoi of a well run company!
I gather that auditors E+Y are struggling to find the correct wording for the audit report, should make interesting reading on Friday.


"Accountant Vantis faces disciplinary action and a possible civil court case over the alleged misdeeds of former partner Ronald Bassett Cross.
The London firm, which has lodged a 'robust' defence to a complaint made to the Institute of Chartered Accountants, has been 'put on notice' that there may be civil proceedings, according to Vantis's compliance officer Jane Fowler.
She was speaking last week at the ICA's disciplinary hearing in central London into allegations against Bassett Cross in relation to his handling of assets in the G St Pierre Harris Will Trust.

Bassett Cross, 66, faces a number of accusations, including that he misappropriated client money, that he concocted a sweetheart deal to sell a friend a portfolio of properties belonging to the trust and that he lied to an ICA investigator.

He attempted to have the hearing held behind closed doors, but the request was rejected by the panel.

Bassett Cross, who has addresses in central London and in Beckenham, Kent, failed to attend the hearing and so the panel entered a plea of not guilty on his behalf.

The panel will give its verdict on November 20. If found guilty, Bassett Cross could be expelled from the profession."

[egoi] 21/10/2009 14:03

Given that they made about 6p at the interims anything similar would of course be 12p. That's a very low rating re the sector.
interesting to see what they do re a dividend.

Now that the latest round of scaremongering is in the background I think investors' thoughts will turn to value and outlook.

[jeff h] 20/10/2009 13:50

Results out a week on Friday....threat of suspension gone so I'm in for 10k

[dibbs] 19/10/2009 23:22

battlebus, It could prove to be a profitable purchase, although one with reasonable risks at the minute. Overall, the downside is starting to look quite limited, a pity the spread has opened up today. Good luck.

Dibbs