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I hope the new owners take the opportunity to deal with the message boards on their website. The ****** trolling lying idiots need removing.
One of the proposed directors is Tony Wollenberg the founder of City Index. This guy will be turning this company around.
Interesting addendum today.
Cash it is for Clem rather than more shares - I approve. Well, I approve of the compo being cash not shares - still unhappy about the level of compo...
Regrettably although he can't sell his payoff for 6 months, he still has his older shares and the 14p options from the back end of 2021 to offload at his leisure, so he'll get even more sweeties in the near future.
Chambers has been milking this company. A smarmy narcissistic old man sucking on his lactating breast of a business. He made sure that it served its one and only purpose to deliver him a grossly inflated salary for 20 years. No intent or motivation to drive shareholder value. A disgrace and operating fundamentally against his fiduciary responsibilities as all the directors have been. This business has so much potential. Even at the revenues it has now, it should be generating at least £2m bottom line. Removal of these leaches will instantly deliver this. No justification for the levels of remuneration for this board for a business that is so simple to run in the stasis they have stupefied it into. But even when he is eventually ousted he cannot leave tail between legs and his little ruby ted face hidden by embarrassment rather than too much imbibing, no he has to rip another £1m from its already routinely raped coffers. No integrity and if we had proper oversight of listed businesses he should be facing charges of embezzlement. Enjoy your belated retirement, you only have red wine left to dull the pangs of the ego you can no longer service. Fraud!
Well that sorts that out. Israeli group have the floor now.
I think if they are doing this just to keep their jobs, Company is better off without them. Directors get 1.5 mil salaries and the profit for all shareholders is around the same figure.
Interesting RNS activity in the last couple of weeks.
Today's "potential overseas partner" I'm guessing is not part of the Israeli group and more friendly to keeping Clem as chairman - this move would dilute the hostile vote against him? Just guessing...
New directors once in will turn this business upside down. .Let’s hope it goes smoothly.
Another question is what are these "valuable assets which could well be of interest to a number of parties. "
Does anyone know what the story is behind this RNS? Clem founded Online Blockchain PLC and along with other Directors hold 17.63% of ADVFN. Is this an attempt at a management buyout, to prevent an hostile takeover by the Israeli contingent? Will there be a bidding war now? What are everyone's thoughts on this?
This will heat up once holdings are being announced…IMO we will see £1 at least within a week or two…patience folks
The stock markets reaction would indicate that there is not a snow balls chance in hell of a takeover
So take over is real
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If Horsky has held AFN for nine years why did this not come out when Taumann last attempted a takeover which was stopped. Horsky and Taumann both have connections to Israel and New York universities.
Thanks for that SteffyB.
Very many thanks.
I was in QXL myself, a very interesting stock.
It went very high in the .com boom and crashed afterwards. In addition the Polish management ran off with the Polish business. I bought when it seemed low, I bought again when it fell again. It continued to fall and I turned £52k into £400. I sort of wrote the matter off. However the market turned and it started to rise, eventually the Polish business and management were rounded up and bought back into the whole, the price continued to rise. It ended up just before the takeover as having been the best performing share on the LSE for three years out of four and I got £170k out of it. Not brilliant. Had I put my 52k in at the bottom of the market I could have come out with a cool £170k.
I was at the last meeting after it changed name, possibly rubbed shoulders with one or more of the three guys mentioned in that article.
I have my own views on AFN, however thankyou very much SteffyB. :))
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Dan Horsky: late-stage capitalism
It keeps getting weirder at ADVFN, the data hub for retail investors. A regulatory filing this week revealed that Dan Horsky, a retired New York professor of business administration and convicted tax evader, has been holding nearly 10 per cent of the company for the past nine years.
Also on the register of the Aim-listed company are Yair Tauman, an academic and former non-executive director of ADVFN, who in 2015 backed a failed boardroom coup. He doubled his stake to 18.3 per cent this year. Real estate developer Ron Izaki has been a major shareholder since 2009 and owns 4.3 per cent.
All three men had previously invested in QXL Ricardo, the London-listed online auctioneer. Naspers of South Africa bought QXL in 2008 for nearly £1bn. Three years earlier, when QXL was valued at approximately £100m, Izaki and Tauman led a consortium that repelled competing attempts by a management-backed vehicle and a private equity fund to take the company private.
Horsky was an early backer of QXL’s parent company and according to the US Department of Justice it was his only big success among myriad failures. In 2000, he stashed a $500,000 stake offshore in a Credit Suisse bank account that by the time of Naspers’ takeover was valued at $80m. Horsky then turned informant, co-operating with a DOJ investigation into Credit Suisse’s Israel desk. In 2016, he pleaded guilty to tax fraud and was subsequently sentenced to seven months in prison.
A person familiar with ADVFN had no explanation as to why it had taken Horsky nine years to report his investment. Horsky, Izaki and Tauman could not be reached for comment.
Trades data seems to stop at 1.35pm today. Up to that time most decent sized ones seem closer to the bid price than the offer price. Can somone be picking up off market or late reporting?
Prices seem to be coming off incidentally.
I have just signed up to LSE to post, but in the past I have read posts on LSE.
I am a long term historical user of advfn and have many thousands of posts to my avatar.
Because of the rules and AFN being a listed company I cannot post re advfn on the advfn bbs.
Most here will know the history of Professor Yair Taumann how he used to be connected with advfn, left, and then attempted to get control some years back, failing due to the UK regulator.
Yair Taumann seems to have currently 18.31% of the company. Recently we have Dan Horsky picking up 9.66%.
Since both these men have connections with Israel and New York universities I would suggest that they are probably acting in concert. Ron Izaki again with Israeli connections seems to have 4%.
It is hard to tell what the current game is it is one thing to amass over 30% and thus have to declare as to a formal bid, but it is quite another to have over 50%.
Make no mistakes the stakes are high. For some advfn is a niche player, for others it has a potential to be very much bigger, it styles itself as social media. Think Facebook, Twitter, Reddit.....
Some posters on LSE are very critical of advfn however it has some very powerful attributes. BBS are read down the page, newer posts at the bottom, you read it like the page of a book. Navigation around BBs is good. The user base is large, and I do mean user base. I keep running into people in the real world that use advfn, other sites including this one, far less. Again I know people that use advfn but never post.
I think this post is long enough for an opener.
Could be ripe for a squeeze
Back in 2000 this was £15 : ) )………very low float still
3% threshold crossed in 2012 ......