Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
https://uk.finance.yahoo.com/video/amc-q3-earnings-breakdown-theater-221148605.html
Very interesting ...
LSE is duplicating trades
And here is the one requested...sorry
A divorce battle over £450 million in which estranged ex-spouses pursued their case across the world has finally come to an end.
Tatiana Akhmedova, 48, was awarded the sum by the High Court in London after she and Farkhad Akhmedov, 64, split up.
Prior to legal proceedings her former husband offered to settle for £150 million.
However, Akhmedova rejected his offer and hired some of Britain’s most sought-after lawyers with the backing of a litigation funder, Burford Capital.
Much of the row centred on the 115m MV Luna superyacht, which her legal team said was worth £225 million.
The yacht, formerly owned by Roman Abramovich, the Chelsea chairman, was a prized possession of her former husband’s.
Unwilling to part with it, Akhmedov sought to overturn a decision by a court in the Marshall Islands which stipulated that she should have control of it. The Supreme Court of the Pacific chain agreed with him and set the ruling of the lower court aside.
A spokesman for Farkhad Akhmedov said: “The intervention in a case over which the English court should have had no jurisdiction and the involvement of Burford Capital ultimately achieved nothing for Tatiana.
“Burford and she spent years and millions of pounds on a costly global tour of various jurisdictions in their attempts to seize Luna.
“Every one of them failed and the yacht remains and will remain in the ownership of Farkhad and the family trusts.
“Tatiana has ended up with not a penny more than she was offered by her ex-husband six years ago. Farkhad has provided no payment to Burford.
“Those monies will have to be paid by Tatiana, thus reducing further to her the benefit of a settlement she could have had before the lawyers and financiers got involved.”
As part of the deal Akhmedova has accepted a cash and art settlement worth about a third of the £450 million she sought.
It includes £100 million from which she will have to pay Burford Capital tens of millions of pounds.
The legal costs of the divorce battle are estimated to be more than £30 million.
The original decision to award Akhmedova £450 million was made in 2016 by Judge Haddon Cave in the High Court.
This afternoon, Burford Capital said: “[We have] now received approximately $103 million (£74.5m) in respect of the Akhmedov matter, which Burford funded to enforce a final judgment of the English high court. Burford provides this release consistent with its regulatory disclosure obligations. All other details of the matter are confidential.
“Given prior successes in this matter which had previously resulted in the recognition of unrealied gains and taking account of costs and commissions, Burford expects this matter to contribute a further approximately $20 million to its 2021 operating profit. In aggregate, Burford expects the matter to have generated more than $70 million of realised gain over the life of the investment.”
As Requested
Wrangling over the UK’s biggest ever divorce settlement has ended with a wife settling for £150 million — and owing half of it to her backers and lawyers.
Representatives for Farkhad Akhmedov, a Russian energy oligarch said to be close to President Vladimir Putin, said yesterday that he had agreed to pay his former wife £100 million in cash and about £50 million in artworks.
However, Burford Capital, a litigation funding company listed on the London and New York stock exchanges, said that Tatiana Akhmedova had paid it nearly £75 million, which included its commission for backing the case and about £40 million in legal fees.
The torrid family row has been running for five years. In 2016, the High Court ordered Akhmedov to pay his ex-wife £453 million in what is still the UK’s biggest court-ordered divorce award. Akhmedov had offered Akhmedova £100 million plus legal costs prior to the judgment. A year later Akhmedov was found in contempt of court for failing to comply with the order.
Akhmedova spent years pursuing legal action against her ex-husband. One high-profile case involved Akhmedova attempting to force her ex-husband to hand over a superyacht, the MV Luna, built for Roman Abramovich, the Chelsea football club owner.
In April, the High Court backed Akhmedova’s claim for £75 million against her own son, Temur, who it ruled had conspired with his father to hide millions of pounds from his mother.
The oligarch, who lives in Russia, maintained throughout the legal battle that the couple had been divorced by a Moscow court 16 years before the English ruling and that he had made his ex-wife fair financial offers. A spokesman said Akhmedova “has ended up with not a penny more than she was offered by her ex-husband six years ago”.
Legal experts said that the court would have to approve the deal struck by the couple and that he remained in contempt of the High Court.
Akhmedova did not respond to requests for comment.
Nightclubs and cinemas have hit back at the government over plans to introduce coronavirus passports and said that they will not require them as long as the scheme remains voluntary.
Cinemas have said they would resist such a move. Phil Clapp, chief executive of the UK Cinema Association, said: “We believe that the overwhelming majority of our members continue to oppose the notion that audience members should be required to show evidence of a double Covid vaccination or negative test before being allowed into their venues.
“UK cinemas have throughout the pandemic repeatedly shown their ability to offer a safe and enjoyable environment, as evidenced by the fact that not a single case of Covid has been traced back to a cinema site.”
Very good interview !!!
Inspired long term confidence
Closed $13.55. That's £9.80.
America has been raising this all day
Monday should be interesting
Look at the spread...does not correlate but it does to US listing
07-May-21 14:30:03 923.00 250 Buy* 919.50 921.00 2,308 A
07-May-21 14:30:03 923.00 11 Sell* 919.50 920.50 101.53 A
07-May-21 14:30:03 923.00 36 Sell* 919.00 921.00 332.28 A
07-May-21 14:30:03 923.00 76 Sell* 919.50 920.50 701.48 A
07-May-21 14:30:03 924.00 23 Buy* 919.00 920.50 212.52 A
07-May-21 14:30:03 923.50 38 Sell* 919.00 920.50 350.93 A
07-May-21 14:30:03 924.00 12 Sell* 920.50 922.00 110.88 A
07-May-21 14:30:03 924.00 63 Sell* 921.00 923.00 582.12 A
07-May-21 14:30:03 924.00 23 Sell* 921.00 923.00 212.52 A
07-May-21 14:30:03 924.00 16 Sell* 921.00 923.00 147.84 A
07-May-21 14:30:03 924.50 325 Sell* 922.50 923.50 3,005 A
07-May-21 14:30:02 925.00 428 Buy* 924.50 926.00 3,959 A
07-May-21 14:30:02 925.00 1,200 Buy* 924.50 926.00 11.10k A
07-May-21 14:30:02 925.00 1,200 Buy* 924.50 926.00 11.10k A
07-May-21 14:30:02 925.50 79 Sell* 924.50 925.50 731.14 A
07-May-21 14:29:59 929.00 46 Buy* 926.00 929.00 427.34 A
It seems to me that once 2:30pm arrives, it does not matter what we sell/buy the price is dictated by America
Both Cineworld and subsidiary chain Picturehouse have confirmed that they will reopen their venues when the next stage of lockdown is lifted on May 17.
On their website, Cineworld write: “We expect to resume operations in the UK in May, in line with current government guidance. At that time, we will be following government and health authority guidelines to ensure the health and safety of our colleagues and customers.”
USA dropped Friday and continued yesterday on 150,000 trades
Was it the delay in Petersen?
I always thought it was Peter Crook who caused the collapse of PFG in 2017.
Nice to find out the whole truth of that saga.
21 pages of fact. Found in The Times today
https://assets.publishing.service.gov.uk/media/5c541d4d40f0b6253f6d4be1/Mr_A_Parkinson_v_Provident_Financial_Management_Service_Ltd_1807279.2017_-_Reseverd.pdf
RNS
As part of the operational review, the Group is working on a new customer proposition, which will allow it to serve a broader cohort of customers. It will take into account the most recent sector regulation, as well as the recently published Woolard Review, and will reflect the Group's purpose and commitment to sustainable lending. Further details of this, as well as the conclusions of the operational review, will be provided with the Group's 2020 results in May.
I think they will come out of Sub prime lending
Really bad RNS...another FCA probe
CCD in trouble
People borrow and then complain so they don't have to pay.
FCA are a mess
https://www.amazon.co.uk/dp/B08WJP9C51
It will work now
NSF is not on AIM
Great Article ...really inspires confidence
Can anyone explain why we keep getting delayed transactions, showing in black, which tend to be rather large buys/sells and marked as unknown.