Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I'm very sorry to hear the news. I hope you all recoup your losses else where.
In administration and not the decency to inform us .
Can't sell through HL. Phoned them and they confirmed it was suspended. Not sure what that trade that went through earlier was all about?
this morning. Get out while you can.
Donmac101 looks like I was correct in my view that Gable was a dog. The major subsidiary is now in administration. Gable Holdings will be suspended tomorrow morning uk time so it won't have any value as a listed shell. In any case it is probably insolvent because it borrowed £6m via loan notes and invested this into insurance subsidiary and it won't be seeing that money again. Am I surprised no - it has been apparent for a long time for anyone who understands property and casualty insurance that was going to end badly.
Stock suspended with net asset value of 0.5 pence per share doesn't look good.
Gable yesterday receptionist assured me someone would get back to me .......silence.So much for us pi.s
Will Gable find a new NOMAD before Thursday I doubt it.
Did any of the remaining directors ring you back ,I somehow doubt it .
Let us know how it goes...
Phoned gable today waiting for them to call me back.
Will phone the company monday just for you max!
can you find out about % of relisting?
You my friend are wrong and full of doom and gloom let this play out see who comes out ahead.
Why don't I like Gable - simple not much to like in its performance.
as cheerful as ever....why you hate this company so much?only negatives from you....I really hope you are proved wrong ,it seems you will enjoy others to lose money....
Lets ignore the loss of £2.3m reducing net assets to only £674,000 a tiny change in value of gross assets of £202 m or gross liabilities of £201m and its insolvent. IMO Gable is going to nil it's just a matter of time before the administrators get called in. NAV now 0.5 p per share.
maybe you can speak to WD and ask if we are close to new nomads....
I have made good progress on this and I am confident that an announcement will be made on this matter very shortly
Outlook - Strategic Restructuring Plan -- Excellent progress with the provision of alternative capacity for the group's book of business -- Considerable progress has ensured that running costs are at minimum sustainable level with a view to creating a lean business available for recapitalisation
let`s see if they offload the books....
Well i'm kind of disappointed, the previous RNS's did suggest they were expecting to have A Rated paper live by the end of Q3 which clearly is not going to happen. renewals not even being invited now so even if they do recover every month this goes on the book decreases by at least 8% or so, with the loss of confidence etc from brokers I imagine its double figures Have a small holding so hopeful but beginning to think Gable may be struggling to offload the book and there will be little to no value,
knows onions lol
Donmac You are sadly very wrong and clearly don't understand how the insurance industry works. If you read the accounts note 3 - you will see that Gable holds millions of pounds for such previously incurred claims as far back as 2008. The previous insurer is liable for claims incurred when the policy was inforce. Gable specialized in liability claims where there is often a long delay between notification of claims and settlement of claims. It will still be settling claims ten years from now if it hasn't run out of cash first
You take out an insurance policy pay your premium.when term ends you then shop around for the best provider.Previous provider is therefore no longer liable .