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Good research thanks. I'll hang on with my shares until end if February and then reassess. I wouldnt want to miss the boat here. Tick tock
...has also been appointed Non exec director of PSL.
I'm holding PLMO, IMTK and just bought PSL after his appointment on 30th Jan.
He's with Nigel Burton in PLMO.
I checked the word ABAL and it appears that "Abal in Punjab is a town in ....." [Ref:Guide: Abal [Punjab]. It also has a meaning of s...brother.
Oh, guess what? From recall, Vin comes from Punjab [Ref: "Chief Executive says Thank You everyday."-Financial Times, 20 Sep 2012. The intro: "Vin Murria began earning business accolades at a young age. She was born in Punjab, the oldest child of an Indian family who came to..."]. To read the article, just call up the said title via the search engine.
IMTK must like Punjab?
Just saying. No meaning inferred.
Yes, with AF moved to allow a new CEO to come in...
Tick tock.
Interestingly this has the same MCap as polemos and over twice the funds. Check SP this time next week ;-)
I checked John Treacy on Linkedin [Non-Executive Director of Abal Group plc, formerly IMTK].
Link: https://ie.linkedin.com/in/john-treacy-5184131b According to Linkedin on open file, Mr Treacy is also a Non-Executive Director of Polemos plc [May 2018 to present].
As a benchmark example, Polemos is due to come back from a RTO. I recall that Polemos was also a shell. I looked at Polemos last night and they will be reversing in a co with a new CEO? If I read correctly, they had £500k? It was late and I was not able to take notes etc. So just a rushed look. This is just an example only of how a shell COULD work. From recall, they had an earlier co they were interested in.
I am not invested in Polemos but just mentioning a shell situation example ONLY. Polemos is currently suspended and due to be re-listed upon the RTO. I thought it interesting that Mr Treacy, NED of Abal Group plc [formerly IMTK] is also a NED for Polemos, a shell situation.
Please note the disclaimer quoted by Abal Group plc re: acquisition of a co which has been posted several times on this forum.
For the avoidance of doubt, I was interested in Vin Murria and therefore following this story to the end conclusion. Only in for a very, very, very small amount as a punt ie can write off the loss if things do not work out. That is true for all AIM co as it is said that it is for sophisticated investors who can "afford" to lose the stake [per the rule book?].
DYOR.
t
Been around long enough to know a stocks momentum can turn in an instance, have the right news or rumour and it becomes very hard to get in..
Buy low sell high remember.
Gla
Africanskies no I'm not ok really, just a bit annoyed with this share at the moment and the markets in general, being a bear market and all that. Cryptos are all down too and I have 10s of thousands in that too especially Ethereum.
I do hope we get news next week as they do need to throw us a fricking bone or something.
Good luck all! Just watching some old school JAWS on tv for a bit of nostalgia with wine with the partner.
Have a good weekend!
Scully, Are you ok? Very up and down recently.
Agree it’s frustrating but I’m confident that we will get news next week. I haven’t a scooby about the details but can’t see us going the whole of next week without an announcements
That 2p buy at the bell is intriguing too
GLA
Stillwaiting to answer your question about tax losses, I believe these can be carried over for 3 years to go against future profits and reduce these tax bills. It can in Ltd companies I run anyway. But I'm no accountant just hire one lol.
The lastest set of accounts showed a loss of £660k I believe. So maybe work from this?
Lol mannan that would mean me setting buy order to 0.3p and that's too much to pay for this disaster of a share.
Mr Brainer on Twitter who posted on LSE too had a Twitter conversation with Justin Waite back in the summer when Justin podcasted about the Vin Murria situation - Mr Brainer claimed that Angus Forrest had 9 companies bankrupted? https://twitter.com/Brainer_Aim/status/1023715251647377411
Do anyone know how we verify if there's any truth behind this?
Did any of you actually join me to vote against the sale??? If not, you all agree to having our customers, assets, future revenue, everything besides a bit of cash stripped which we didn't a pretty big proportion of to pay the liabilities they left us with?
Do you know what will happen with the £1m we have left? It will deplete quite rapidly probably sooner than the 6 month limit to reverse takeover - there's no revenue coming in. As any RNS projected the costs? No. Because they don't want you to know that. But let me tell you they will be big and eat away at that £1m in no time. Half of it may be gone in the next few weeks. You honestly don't think the £1m is just to pay to buy a business, how much is likely to dwindle away in expenses?
Scully on Monday buy some more but this time pay 3p
Selling the business was a terrible move. end of.
Better to cut your losses here while you still can - the 2p trade says it all, the MMS getting everyone's hopes up before this sinks to 0.2p. Wake up people.
StillWaiting please don't fool yourself, there isn't going to be a RTO, it would cost too much and £1m isn't even enough to keep the lights on. It's become a sad joke this one now I'm afraid. I doubt we'll see plus 1.5p ever again here. If it does go anywhere near 2p again it will be a pump and dump to get another placing out.
Stillwaiting don't get all excited that 2p trade was me. I accidentally set a buy order for 2p instead of 0.2p for when this dog drops to that. The MMS ripped me right off ffs My average is even fcking higher now after that £5k!
So I guess the CEO role needs filled by the RTO candidate ?
Everything is gone wrong here atm
What's that about.
Look at what else John Treacy is involved in https://www.linkedin.com/in/john-treacy-5184131b
StillWaiting
Answer to your question: "Pythagoras announce Vin Murria as Investor & Strategic Adviser." - From their announcement dated 10 Sep 2018.
https://www.pythagoras.co.uk/our-partners/ [One of the partners cited is Microsoft - see details]
news - thanks for that. It's interesting that AF isn't listed under Abal but also interesting that the RNS section of the website https://www.abalplc.com/rns hasn't been updated for 2 weeks. Poor show as far as I'm concerned. I'm really personally not impressed with Angus. Not sure what everyone is raving about tbh.
Selling the business without anything new lined up is just silly and us shareholders have been screwed as far as I'm concerned. I can't see how anyone else can paint this in a different way. If the business had been sold with another suitor lined up or even in talks it would be a different story.
But they've admitted in RNS and on the https://www.abalplc.com/ website that there's no new business lined up.
I think Stillwating et al on here get confused about the difference between a business entity and an actual operating business able to take orders. This is just a shell with a constantly diminishing and relatively tiny amount of cash, a ticking time bomb with just 6 months to go until about £6million to stay on AIM if they want to - which we all know if their efforts are "fruitless" as they put it, this will be delisted from AIM.
Be under no illusion that AF is likely looking to jump ship anyway since the deal is now done and for all we know 8 are in to help take the deal through - he may have just been in it and you don't know if there's been any kickbacks as part of the deal for what was a lowball offer it would appear. It was certainly well below trading share price at the time and the fact that ABAL was left with the debts to pay off is a disgrace - why weren't these debts taken on by the purchaser - because it was asset stripped that's why.
Which venture did VM jump to in the end ?
Can anyone verify the status of imtk/abal tax losses and their availability to carry forward ?
Per the Abal Group plc website set up under Directors:
Simon Charles, Chairman [Senior Equity Partner at the London solicitors firm Marriott Harrison LLP]
John Treacy, Non-Executive Director [London based small cap financier]
& Angus Forest, Non Executive Director.
https://www.abalplc.com/directors
Comment: Interesting that Mr Angus Forest, currently CEO of IMTK is not the CEO of Abal Group plc [new name for IMTK]. No CEO is cited for Abal plc?
Fri, 1 Feb 2019
For historical records, Vin Murria*s offer of 2p for IMTK [strategic investor] equates close to what the American co paid for IMTK to take it over? Currently, IMTK is trading below the cash value of £1m to be expected from the sale of IMTK. Note that IMTK is effectively a shell co and the part about "Identifying a suitable target" via https://www.abalplc.com/investors
DYOR. Please check.