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Last post: NormaStits, 19 Mar 2024 15:52
Basket case, as previously discussed.
Not great. Lost faith. Bailed.
Started: monoraja, 30 Nov 2023 11:25
Last post: Scoobydoo321, 30 Nov 2023 11:53
PMI's up 20%. Didn't understand why ASTO hadn't risen.
Somebody buying in. Homework done. Sop value least double current price I think
A sudden surge in the share price today with no announcement.
Last post: NormaStits, 20 Sep 2023 16:44
…today marked announcement of the first such transaction…
Wouldn’t touch this thing. Of course, might make money out of it but there would need to be all manner of clever transactions and deals to make that happen. On its fundamental operations, appears to be an absolute basket case.
Alex Hoctor-Duncan - 425,377 @ £0.376 = £159,941
https://www.lse.co.uk/rns/ASTO/directorpdmr-shareholding-25km8txiy97o9bh.html
Christopher Mills / Harwood capital - 850,000 @ 0.35 = £297,500
https://www.lse.co.uk/rns/ASTO/directorpdmr-shareholding-fxrerosg2pffhpm.html
Bought a few back @37.5, which after selling at 41p shaved 3.5p off. It all helps. Hopefully we see asset managers start to turn as the market picks up. Also bought PMI.
Cant recall where may have been investors chronical, but also read that great consolidation is expected in the industry. Either could be taken out IMO.
Started: NormaStits, 21 Jun 2023 03:55
Last post: Dartron, 30 Jun 2023 18:26
Nearly another 1M shares transferred at 30p. I managed to sell some this week, but could only get a quote for the market size.
30-Jun-23 16:18:38 40.10 750 Sell* 40.00 43.00 300.75 O
30-Jun-23 16:18:11 32.00 500,000 Sell* 40.00 43.00 160.00k O
30-Jun-23 16:18:02 32.00 498,440 Sell* 40.00 43.00 159.50k O
30-Jun-23 12:44:51 40.50 12,330 Sell* 40.00 43.00 4,994 O
30-Jun-23 08:26:40 40.60 24,000 Sell* 40.00 43.00 9,744 O
Delayed trades from results, at 46p these were still the low end of the day on the 14th. Nicely covered up with at 42.1 buy of 23 shares. Gotta love market maker stocks. Im not decided what to do here yet, with an average quite a bit higher.
Nice for Christopher Mills to grab some at 36p, that kind of price would have been agreeable to me, lets see if 40p is going to hold. It might not.
26-Jun-23 14:00:29 42.10 23 Buy* 40.00 42.00 9.68 UT
26-Jun-23 13:50:32 40.20 6,316 Sell* 40.00 42.00 2,539 O
26-Jun-23 13:24:14 40.02 1,490 Sell* 40.00 42.00 596.30 O
26-Jun-23 11:40:27 40.10 100,000 Unknown* 40.00 42.00 40.10k O
26-Jun-23 11:46:01 40.00 46,890 Sell* 40.00 42.00 18.76k O
14-Jun-23 09:22:35 46.50 35,000 Unknown* 40.00 42.00 16.28k O
14-Jun-23 09:22:33 46.50 -35,000 Unknown* 40.00 42.00 -16.28k O
…and so it begins…
Started: oldbutnowisa, 31 Mar 2023 14:55
Last post: NormaStits, 15 Jun 2023 07:28
I’d stay on the sidelines for a good while. Might aswell set up home there. The only valuable piece is the stake in Parmenion. The rest is of questionable quality, but massively expensive to run as a business.
And hence your name -
I'm joining u on the sidelines - was in 60p got out at 73p
I have been watching this for a long while and can understand why it looks an easy pick with such a collection of experienced managers. but even in this lousy market it does no better than others,,, and one could argue worse!
I may prefer to miss this boat and keep watching for now.
Last post: NormaStits, 20 Feb 2023 20:20
Am sure Martin himself would not condone that lack of diversification. Might not end well.
I put most my SIPP £78k into Assetco at £7.75. I was Martin Gilbert's driver when he was CEO of Aberdeen Asset Management, a company he built over 35 years, and I have worked with Campbell Fleming on many occasions driving him as and when since 2016. I've invested in these guys simply because of their very successful track record and knowing them personally for a long time. Their committed and client focused.
Started: Dartron, 20 Jan 2023 18:22
Last post: LondonNorthWest, 21 Jan 2023 16:24
Seems they bought back £6.6m of stock (£7.5m total agreed) in the last 3 months, at average 61p
Good to see them taking advantage of the price drop today 20/01/23 - 13800 at 71p.
Started: Scoobydoo321, 6 Dec 2022 14:56
Last post: Scoobydoo321, 17 Jan 2023 14:40
Mind you, ASTO has been a laggard compared to the likes of LIO, IPX, ABDN and PMI. So, sp rise is well justified.
Loads of peeps cottoning on to sitting and holding asset management companies.
Nice little divie and whilst they are near their bottom, sit around until economy starts to grow again and voila: 2x - 3x your original investment. Well...at least that's my reason to stay invested!
Wondering same thing. Can’t think of anything else that might ignite this right now. Firm has a lot of streamlining to do to make the most of its multiple components. It’s like a messy buffet table right now.
Quite a leap in the sp - Parmenion deal?
Think markets need to see the FY Financial statements to better understand how the entire company works.
Today it seems completely ignored, for a variety of reasons as Chris also mentioned.
Surely this has to be worth £1 min
https://www.**********.co.uk/articles/q-a-with-harwood-capital-ceo-christopher-mills-dce2152/
v o x m a r k e t s .co.uk
Significantly undervalued.
Sellers are most probably the shareholders who sold their companies to ASTO and got freebie ASTO shares. Seems they have already dried up.
Started: Scoobydoo321, 30 Nov 2022 11:52
Last post: Scoobydoo321, 2 Dec 2022 17:06
Goes ex-div
And
PMI - cross-read to ASTO - looks great.
Market waking up to how incredibly cheap this company is.
IPX stellar results today - a shining beacon for AMCs
Ask cheaper than the bid here at the moment amazing lol
Started: Alan00, 12 Sep 2022 09:15
Last post: Alan00, 12 Sep 2022 09:15
If interested please see AssetCo write-up here: https://www.upsidedownsidecapital.com/p/assetco-plc-downside-protected-significant
I think it's attractive at this point, with significant potential upside, and the downside quite well protected. The possible Parmenion transaction as reported by Sky (link in write-up) could really help to highlight the value.
Started: ghariexem, 27 Jun 2022 15:25
Last post: ghariexem, 29 Jun 2022 18:02
Just checked with my broker and it looks like a max 10 days from 21st June it should appear
Has everyone now got their cash payment for their river & mercantile shares or are people waiting?
Started: Troajan, 22 Jun 2022 11:06
Last post: Troajan, 22 Jun 2022 11:06
Last post: Troajan, 21 Jun 2022 21:05
Started: StarBright, 31 Aug 2021 13:14
Last post: StarBright, 31 Aug 2021 13:14
Does anyone has a copy of the Numis research note they can link / share here...?
CityWire report the following: "An investment today is as much about taking a view on management’s ability to deliver their strategy, as it is the investments made so far,’ they noted. We see significant opportunities to build shareholder value and we think this could deliver material upside for shareholders."
https://citywire.co.uk/wealth-manager/news/numis-initiates-coverage-of-assetco-with-a-buy-on-20-upside/a1548269?re=88635&ea=471554&utm_source=BulkEmail_WM_Daily_PM&utm_medium=BulkEmail_WM_Daily_PM&utm_campaign=BulkEmail_WM_Daily_PM
Started: Bigwil7, 11 Jan 2021 17:19
Last post: LOGGYBOG, 17 May 2021 12:27
:-( what)
Getting a bit livelier now. Hoping for a 10 for 1 share split to improve liquidity
Is there anybody on here? Asking for a friend
Just in case anyone is interested - check out the members of DAGG LLP
21 July 2020
Minoan Group Plc
("Minoan" or "the Company")
Reorganisation of funding arrangements, placing, update and General Meeting
The Board of Minoan is pleased to announce the successful reorganisation of its only secured borrowings (the "Existing Loan"), the cancellation of warrants and rights to future warrants and a small pre funded placing to provide further working capital.
Whilst the transaction is complicated and involves short term cost it will result in a significant reduction in the long term fully diluted capital for the benefit of all shareholders.
The refinancing is being undertaken by a group of existing shareholders in the Company through a special purpose vehicle DAGG LLP ("DAGG" or "New Lender").
One being Martin Gilbert !!!!
Started: Hamodeh82, 11 Jan 2021 09:10
Last post: riddler, 11 Jan 2021 11:11
Will shoot to 200%
Started: seeingtom, 2 Feb 2019 14:43
Last post: seeingtom, 2 Feb 2019 14:43
I got raped by these left with 3 shares now
Hi All,
Anyone aware of an Assetco shareholder lawsuit against Grant Thornton? I was one of the many shareholders that they failed.
Thanks!
Started: Fourprinces, 1 Feb 2019 06:33
Last post: Fourprinces, 1 Feb 2019 09:42
Now offering 294 to sell on ASTO. 20 shares will cost 315
£2.25 net asset value at interims, the £21m is worth a further £1.72 and if they get the interest as well that's another £1.75. So you're talking a share price of £5.72
If the judgement interest alone for 9 years is taken into account at 8% then compounded you have an interest figure alone of £22m plus £21m award
Plus £19.6m cash as of last accounts
Plus legal costs award.
What does all that equate to?
They won’t appeal. Already fined and that judgment was adamninv indictment. Also got enough on their plate with CAKE
I think it suffered yesterday as WEST had 45,000 on the bid all day. They appear to be gone now.
Started: Fourprinces, 31 Jan 2019 17:56
Last post: Fourprinces, 31 Jan 2019 20:10
Started: Fourprinces, 31 Jan 2019 17:00
Last post: Fourprinces, 31 Jan 2019 17:00
Notice how WEST are now off the book? Should motor tomorrow.
Started: Fourprinces, 31 Jan 2019 16:07
Last post: Fourprinces, 31 Jan 2019 16:07
AssetCo decision finds auditor liable for trading losses caused by management fraud 31/01/19 Bryan J has handed down an important ruling on the scope of auditors’ duties and the loss of a chance principle, holding Grant Thornton liable to its former client for damages of more than £20 million as a result of “a catalogue of failures over two audit years that were of the utmost gravity and that went to the very heart of an auditor’s duties”. In his judgment, which runs to almost 500 pages, Bryan J found that Grant Thornton was liable for losses which were sustained “through AssetCo’s (continued) trading in a fundamentally dishonest manner in reliance on the negligent audit” ([962]), subject to a deduction for contributory negligence. The judge rejected GT’s argument that such trading losses fell outside the scope of an auditor’s duty. Following a wide-ranging analysis, Bryan J also held that AssetCo’s claim was governed by ‘loss of a chance’ principles to the extent that it depended on the hypothetical actions of third parties, even if those third parties appeared before the Court as witnesses ([459]). However, having assessed the evidence before him, he concluded the likelihood of each of the contingencies upon which AssetCo relied for its counterfactual as 90-100%, with the result that it was unnecessary to apply any discount ([873]). In awarding damages to AssetCo, the judge dismissed each of GT’s seven defences on factual and legal causation, scope of duty, mitigation, giving credit for benefits and circuity of action, as well as GT’s application for relief under section 1157 of the Companies Act 2006. The decision is likely to become a leading judgment in auditor’s negligence cases where an auditor has failed to detect that a company is being run fraudulently by management. The judgment is here. Richard Blakeley and Tom Pascoe appeared for the successful claimant, AssetCo plc, instructed by Mischon de Reya LLP. Michael Swainston QC appeared in previous hearings for AssetCo.
Started: Fourprinces, 31 Jan 2019 15:58
Last post: Fourprinces, 31 Jan 2019 15:58
Either a massive buy order or a desperate short can’t buy a single share and can sell at 292
Started: Fourprinces, 31 Jan 2019 14:26
Last post: Fourprinces, 31 Jan 2019 14:26
Well they want the full ask now and you can sell at 290 so must be a buy order in
Started: Fourprinces, 31 Jan 2019 13:10
Last post: tqhussain, 31 Jan 2019 13:17
Grant Thornton are a big outfit, hopefully they will pay up without appealing
Given they've already been fined I doubt Grant Thornton will appeal
In 2015, AssetCo made a claim of negligence against former auditor Grant Thornton, in respect of the audit of AssetCo's 2009 and 2010 accounts.
In 2017, Grant Thornton was fined GBP2.3 million over its failings on AssetCo by the UK Financial Reporting Council.