Member Info for PATTS

I've just spoken to the Administrators (Quantuma Advisory Limited) and have been told that it is highly unlikely that shareholders will receive any funds back. We are at the bottom of the list well behind creditors, suppliers and HMRC. HMRC alone are owed over £10 million.

I'm gutted, I've have lost just over £15,000 mainly due to the BS told by Adrian Biles and then getting locked in just after Xmas.

Reading the posts from Carltt (the ****ing MELT) reminds me why I haven't been on LSE for months. What a C**T!

Only thing holding staffline back is is tiny 0.35% profit margin on nearly a billion £ of revenue.

Thanks for the reply.

Will have to keep our fingers crossed for a buyer; at this point something is better then nothing.. Astounded that Ince were suspended from trading for so long otherwise I would have sold in January.

I wondered whether it was worth contacting Alan and Samantha Sellers to see whether PI's could be part of their class action against Ince but I expect not.

Hoping for your advice.

I've never been invested in a company that's gone into administration before and wondering what if anything we may get back?
Ince has put me well under water and hope to god that we get back some of our investment.

Acquisition of Arden Partners PLC

When we were informed on 6 April 2022 that the London Stock Exchange had notified Arden that its application for continued Nominated Adviser status following a change of control had not been approved, the acquisition still represented good value for Ince shareholders and that the original rationale had not been severely impacted. We were pleased then that the acquisition of Arden subsequently completed on 28 April and we are now starting to capitalise on the identified synergies and cross-selling opportunities.

Only 10 days ago, Ince announced that they had changed brokers to Allenby Capital Limited.
Yesterday Ince went into administration and now Allenby Capital Limited have resigned. If no new broker is found with the next month the company will be delisted.....WTF!

But despite going through the drawn-out process, Ince today said Arden has underperformed financially in recent months. A stock exchange statement said: ‘The most recent audited annual results of Arden for the year to 31 October 2021 show revenues of £9.28m and a profit before taxation of £0.85m, with net assets at 31 October 2021 of £5.76m.

‘Since then the Arden revenues for the current financial year to date have declined significantly. This decline is largely attributed to the increasingly challenging fundraising market and wider economic conditions in the UK since early 2022. As a result, Arden is currently loss making and the opportunities and benefits that were identified by Ince at the time of the acquisition of Arden are now not expected to be achievable for the group, given its current resources.’

As such, Arden is being sold to financial services group Zeus at a hefty mark-down price of £1m, albeit Ince noted it will be due a further £2m in earnout consideration payable ‘based on certain Arden revenues received by Zeus in the three months following completion.’

There are so many issues over the past 2 years that need investigating.

1) Adrian Biles huge 2021 bonus
2) The fact they bought Arden for £10m only to sell it for £1m less then a year later claiming it was loss making
3) The behaviour of Adrian Biles, family and executives
4) The incredible amount of time this company has been suspended from trading over the past year which has made it
impossible to get out of.
5) The assets they have sold for £2.7m over the past 4/5 months

I've already lost thousands on this company, largely due to believing the borderline lies.

Just when you thought this company couldn't possibly get any worse.....Bang!

what a bunch of utter ******s!

Nothing......This company couldn't organise a **** up in a brewery and couldn't care less about investors

On the 3rd of April Ince will have been suspended from trading for 3 months. It doesn't seem that long ago that the share price was 75p, Adrian Biles got a fat bonus before making the disastrous decision to purchase the loss making Arden for £10 million, causing (along with media reports of his disgusting behaviour) the SP to dive over 90%! Ince then sell their new acquisition for 1/10th the price they'd paid just 3 months earlier......... What a disaster of a company

Who would trust this "full service corporate and commercial law firm" when they can't organise their own ****?!

I've been invested approximately a year and watched the share price along with my position sink due to what can only be described as incompetence.

While I do believe that Ince will come good and be a multi bagger in the longterm I'm getting pretty pi**ed off with the behaviour and blatant disregard of Private investors. I called Public Relations last week who I know wouldn;t be able to tell me anything but I just wanted to get an idea of their attitude which sucked, specifically when I asked: "Will My Biles be returning his bonus to the company?"

Public Relations: "Why should he do that!"

Me: "For misleading investors when he stated last month that purchase would come from cash"

Public Relations:: "That's you opinion!"

Nice attitude

I personally have no issue with them acquiring Arden as i have seen other companies with a similar business models do very well but looking through Arden's fundamentals leaves me with no doubt that Ince overpaid........I can't see how on earth they valued it at £10m when Arden only made the revenue once in 2017 and their performance over the past 3 years has seen a downwards trend in revenues. Loses posted in 4 out of the last 5 years and Total Assets have dropped from £15m to £7m.

Even so I still believe Ince is heavily undervalued and see this an an opportunity to top-up on the cheap.

Yeah ENET looks really solid....... Share price has done nothing good since they listed, Losses of 3 x revenue every year, Reduction in total assets eery year and increase debt. They've just done a placing and have a MC of 31m vs revenue of 1.85m.....What am I missing here that makes it so good?

China are getting great at fking the global economy! First they create and spread Covid to every country and yet they seem to be the only economy undamaged by it and now Evergrande!

Solid results especially given the pandemic. I particularly like:
"The Board will review the payment of a dividend and future policy with the announcement of results for the year ended 31 March 2021."

Still massively undervalued considering the performance and improvements MCRO have made over the past few months. We should be at least 700p based on the RNS's we've had this year.

CREDIT SUISSE RAISES LLOYDS PRICE TARGET TO 44 (43) PENCE - 'OUTPERFORM'

Lets hope to see some positive movement.