Member Info for Johnnyc

Was in ascent with 5m shares from 1.85p - 2.2p for 2years approx Through my cfd accounts. All the way down I have had margin calls and been putting thousands in to keep share as I believed all would be ok one day. The rns on Monday completely wiped me out and due to the new rules my positions were closed without me being able to do anything about it.
3 days later the permit news arrives. Can’t help feeling I have been shafted by those in the know. Aim is just a lottery, run by crooks. Will never invest again, Colin has lost me £1000’s of pounds with his poor rns on Monday, what a dog he turned out to be.

Staff on part time, can’t pay wages , gas reducing month on month

All the people who voted at the egm to not allow ascent to raise any more money without consent where really very uneduacated investors. All this did was tell potential buyers of the company that ascent was totally screwed, no money and no way of borrowing more. So any buyer would just sit and wait until the time comes to pick this up for pennies.

Well done guys , u must be proud

As I said last week there are numerous parties that have shown interest in ascent and I believe many offers on or around the table. However, ascent is like having a plot of land. Not really worth too much. However, with planning permission the value of the land increases 10-20 fold.The same applies with ascent, Colin could sell now for possibly 1.85p but fortunately he is looking after us shareholder ( and himself as he has many options) by waiting for the permit ( our planning permission) at that point the company will be worth many many multiples of the current market value. So let’s be pleased he hasn’t sold out for a small profit and be happy to wait the weeks or months for the permit knowing we will be well rewarded.

It is my understanding that Colin has numerous offers in place, what price they are, I have no idea, that’s why he is not rushing to get this done but taking his time to get the right offer for shareholders.so relax and use this time to top up if funds allow.

The best way forward for ascent is to go it alone and debt fund. Short term the share price won�t move much but long term it will be more beneficial to shareholders.

Heard a rumour that LSE are interested in picking up VOX markets. Anybody else heard this ?

Doc They will probably do a deal with all the substantial shareholders who wish to put more money in so stop them taking it to court and shaft the rest of us. I am trying to get into an investor group, as soon as I have the information I will pass it on. If the same person who triggered the administration is now a shareholder in the new group then it really is wrong. Who was your contact at VE and did you have any contact numbers from the new people?

Doc I will try to explain what I feel has happened, some will be facts and some my opinion. Aston ventures took over from David brown after the old management struggled to raise the money required to keep it afloat. They set about seeing exactly what funding was required to get it break even , the sum was approx £20mill. This would allow them to cut overheads pay down debt. They also offered shareholder who had loaned the company ,only the option to turn it into shares at the same hugely discounted rate of 50p plus a free share/warrant and the option to buy another share at exit at 50p. To be fair this was a ridiculous discount to the £2.50 paid by concha. This is where the waters get a bit muddied, apparently their were large share holders that had asked for information that was not forthcoming so they withheld investment. That information ( apparently ) was only given to them a few hours before it went into the hands of the administrator so they had no time to deal with it. I'm sure for the sake of £20 million enough shareholders would have raised the money to stop losing everything. Remember, first and foremost this is a unique company with potential to be worth in excess of £20billion. So the questions that remain unanswered is why was the money not raised, because not enough information was disclosed ? Who is the only beneficial of this ? Aston ventures, they now have an unbelievable company with no debt for £18 million and no shareholders. I also believe , but can't confirm, it is only rumour, that another shareholder who was willing to invest , pulled out but has now joined up with Aston to invest. Whether this was a classic pre pack made to look like they were trying to get investors in you will have to decide. Whether this can be overturned in the courts I do not know, I do know they are messing with some very powerful shareholders who will do their utmost to sort out this nasty situation. The sad thing is some very ordinary people have lost all their life savings because they were promised the earth by ridiculous valuations being banded by the previous management.

Poor rns, shows concha didn't even know what was going on.

Not sure your getting this. VE went into administration , they were bought back by the management team for £18 million approx.a company that concha bought in at £1.2 billion. Concha has no shares in VE at all now, end of. Your valuation on the books is ZERO. There are no shareholders left , including concha

Po ably want to invest he placing into the new VE !!

I can't work out how this share hasn't bombed today, but hopefully Mr Akers has some fingers in these muddy pies and will come out with something for the shareholders.

Ve have basically gone bust and been bought back by the management / major shareholders for peanuts and debt free. They will one day float this at a huge profit while every other shareholder, myself included for a very large sum, Walk away penniless. And It's all legal !!!!! They made out this would not be a pre pack when they tried to raise money but it looks like that was all smoke and mirrors.

Shareholders have had an email confirming it has gone into administration. Disaster unfortunately.

Dewsbury If you are referring to me deramping this share then you are wrong. Just being realistic. VE promised the earth and failed to meet any forecasts by miles. To put that in perspective they were sending out p and l forecasts showing a profit over £1.5 billion for this year. To say they under delivered would be a massive understatement. So, in my opinion they now need to start producing real profits before a re rating in their value is possible. However, they will eventually get close

VE will, in my opinion secure funding very easily. However, that does not guarantee that concha shares will go up. These will only start to move when VE publish results that prove that the business is a viable and profitable one. No short term fix here, 12 months to be back to original investment price if we are lucky.

Wouldn't be surprised if Mr Akers bought some more at the placing for concha, this would help average down and see a good return much sooner. Not sure what the cash situation is with cha but can only see VE valued back to £1 billion in a short period of time.

There was an hour webinar today where the new chairman Morten Tenneson basically explained to shareholders exactly where VE sits at present. They require approx 16 million to clear debt and get them through to break even. However, will accept up to £40 mill and that will help grow quicker and possibly help with acquisition but not looking to acquire short term. Came over as a very professional , confirmed that it was over valued at £1.2 bill with the numbers they were doing which is why they have priced the raise on a £300 million basis. Think they know this is to low but want to raise in 5 days and let's be honest you have to price it attractively to raise that kind of money for a company that admits it could have gone bust. Conclusion is they have the knowledge and the desire to turn this around, not going to be a quick fix and sell but a long term project. I get the impression they see this as a 3-5 year plan. Give these guys 5 years and I see them selling out for around for well over £10 billion. Only my opinion, so don't take it as investment advise.

Having had a night to sleep on it I now have a new theory which makes sense and will all make you feel a little more comfortable. At the VE agm last year they made it quite clear that they required 20-30m to see the company through to break even and from then on it would all be rosy in the garden. I had heard that many of the largest shareholders were very disgruntled with David Brown, feeling that although he had done well to get the company to where it was , he was probably not the right person to take it to the next level. My opinion, and it is only mine, is that the shareholder group got together and decided they would starve the company of funds thus forcing David,s hand. They knew there would become a point where wages/rents could not be paid and he would have o option but to relinquish control. This is where we are now, the company is not in trouble, never was, because funds were always ready and in place to use once David was ousted. Now the shareholder group have everything they wanted, 42% of the company at a fraction of what it would have cost, all David,s share options for nothing and a huge chunk of his shares for nothing. This company is ow in a position to move forward and to realise its expected valuation of in excess of 20billion. As I say, all my opinion and lots of guess work in there but hopefully not far from the truth.