Volution Share Discussion Threads

[egoi] 01/7/2010 11:54

As a general comment, far too many AIM companies were allowed to build up far too much debt way too easily in my opinion over the years.

I wish I could have got money out of banks as easily, and frankly it's no wonder the banks themselves got into difficulty.

I've said many times on here that in this company's case I feared that one day the debt might become a potential noose - that's why I've personally been negative on this company's prospects for some years now.

The share price may imho be indicating that the day is now not far off, but as always in such cases I hope I'm wrong, and it'd be nice to think that if neeeded there is a white-knight somewhere.

[cammy3] 01/7/2010 11:49

Why would they have paid out £1m only last week if cash was an issue. Can you not try and find out what the hell is going on Andrew?

[greengiant] 01/7/2010 11:29

Looks like this one is done for

Is that a funeral march I hear playing?

gg

[greengiant] 30/6/2010 14:41

Cammy,

Very little, I don't see eye to eye with the current board

gg

[cammy3] 30/6/2010 14:03

GG - Don't you have any contact with the co being a substantial shareholder?

[greengiant] 30/6/2010 13:43

Cammy3 - I wouldn't get excited. This is normal for this management with over inflated ego's. Look at the facts -

No update on Sale
No Trading Statement

Why do you think that is?

They have nothing to say

gg

[cammy3] 30/6/2010 13:35

JS was mouthing off about the football business being SOLD in FT. Why can we not have an update please or does the media need to be informed first by JS !!!

Who is Ashmanor? We need an update asap about this disposal.

[hh9] 29/6/2010 08:39

Ashmanor is rather close to JS. Js controls the voting and unless a new buyer comes in from outside that will not change

Heard they're offer board positions around like confetti, but no one wants them - wonder why.

[greengiant] 23/6/2010 12:09

Ashmanor @ 13%

gg

[cammy3] 23/6/2010 10:10

Its maybe time to do something about it - whi is largest shareholder in FAN

[greengiant] 23/6/2010 09:27

Cammy,

The company has stated that it is the process of disposing of it. However, having spoken to several VC's, their view was that they wouldn't touch it. Now this was from 4 of the larger VC houses, but only 4 - and as we know, there are lots out there! So they may find a house to back them. Personally, one year on from when they announced that a MBO was interested, they are still at the same place. I will leave people to draw their own conclusions considering that the "normal" length of time to do a VC deal over the last month has been around 3 - 4 months.

Tumbleweeds at FAN

gg

[cammy3] 19/6/2010 18:24

Ah Andrew - your the chap who has taken a position in Tandem. Good choice mate - I really like Tandem - Know the management team very well. They need to offload Ben Sayers though.

I think this dog (FAN) will have its day.

Lets wait and see if they utilise the buyback which was approved at the AGM om Friday - LOL

[greengiant] 19/6/2010 07:26

tara - that is true, but are they using working capital to offload the debt to a disenfranchised loan note holder?

cammy3 - if you look through the last holdings statements (think the 3rd one down) you will see my RNS. What value do I put on the footie business, zero at the minute - they can't unload it. This is the company that started the process of an MBO over a year ago. Then JS was reported in the FT in Feb stating stating that the footie business would be sold in 8 - 12 weeks. Eeerrr no it wont.

The problem with the footie business is that it is so cyclical that a VC would have difficulty backing it, they don't like those sorts of businesses. Also look at the Board and tell me who on it has experience in their new Media sector (Theatres) no one - that is where the danger lies.

There will still be a need for debt, this share is a pure gamble and if I had my time again, I wouldn't have invested - this is my honest view

gg

[cammy3] 18/6/2010 18:45

MUST HAVE SUFFICENT CASH TO EXECUTE - well done them. Green Giant - you say you hold 4% - do you mind me asking your name and how it appears on the register?

I'm interested in this stock at these levels. If they do manage to offload the football business then surely no bank facility will be needed. What value do you put on the football business?

[tara7] 18/6/2010 17:31

They must have the cash as they paid it two weeks early.!!

[greengiant] 18/6/2010 17:28

How amusing - this from the Finals

"The Vendors of Dewynters are due to receive payment on 30th June 2010 in respect of a loan note of GBP1,500,000 and the Vendors of SpotCo are due to receive payment in respect of the deferred consideration of $2,500.000 due in October 2010. The company is currently in negotiations with the vendors to restructure the payment schedule of loan note and deferred considerations. Based on negotiations conducted to date, the directors have a reasonable expectation that the financial obligations will be restructured satisfactorily."

And this today

"In addition, the Board is pleased to announce that the final earn-out payment due to the Vendors of Dewynters Limited ("Dewynters"), the UK's leading full-service theatre and entertainment marketing agency acquired in November 2006, was made today. The payment of £1.5 million was paid in full and final settlement of any outstanding earn-out commitments under the Dewynters acquisition agreement."

Obviously the satisfactory restructuring went something like this.

"Are you mad, give me my money. I want my money"
"Okay - I told shareholders I was confident that it would be satisfactorily sorted - Oh well, i wonder if anyone will remember"


gg

[greengiant] 18/6/2010 15:15

They are probably desperately recounting the votes for the re-election of JS

Just humour of course

;-)

gg

[cammy3] 18/6/2010 12:15

Anyone at the AGM today?

[greengiant] 18/6/2010 08:43

HH9 - Not worried about the company sec, this is the person that sold about 5k worth of shares and then had to buy them back. That actually makes me feel better!

gg

[hh9] 18/6/2010 08:35

Rumour Co.Sec has left and is now sueing the company. Yet another loss. Shame as the theatre business is great, shame about the group board

[greengiant] 18/6/2010 07:10

I believe it is a buy. Even tho it was a buy at 80p and their average is 80p.

No AGM Statement - obviously the company does not have anything to shout about -

gg

[argy2] 18/6/2010 07:07

No but I would be surprised if it's not long term buy/hold. He must be very embarrassed by the performance so far.