Member Info for Piler

I guess the lady thought you were asking a general question and not one specifically relating to a D4E, as creditors surely wouldn't opt to run whatever they decide by us just to see if we're cool with it if they don't have to! Did you get the impression they're (Investor Relations) a 'tight leash' by the way? It really is remarkable that nothing AT ALL has leaked over the past year given the scale of the restructuring. Almost as if talks have not actually been taking place - certainly not between 300 creditors (or however many it is)!

I think the selling is down to PIs getting bored and possibly apprehensive about the possibility of another dilution - maybe at the sort of drastic discount that was offered to the privileged few last time (most unfair I thought). However, the bottom line with AVCT is the potential market for their products. Optim in particular offers the possibility of significantly speeding up drug development. Chew on that for a moment - DRUG DEVELOPMENT PER SE! Hopes aren't being pinned on a specific wonder drug. The risk is always there with fledgling tech. companies (especially spin-offs from academia) but they're not just ("just" not meant in a derogatory way!) a biotech. outfit and the potential reward to risk ratio here takes some beating.

Cheers

Interesting, relevant and encouraging information there, though the last paragraph - pasted below - needs further qualification to be meaningful - i.e. must the mandatory offer be at a certain price or above (it's like those irritating sales pitches along the lines of "up to 50% off" - this would be true, of course, if the price was reduced by only 0.5%). "Further, for both public companies and private companies whose securities are or have been traded on a public market at any time during the last 10 years where the creditor(s)/ concert parties reach 30% or more, a mandatory offer for all the issued shares of the company may be required."

On reflection perhaps not - nice, uplifting thought though wasn't it?! That said, it was qualified as I said if there's little difference in cost to use a competitor. Especially if competitors gain the upper hand by offering greater choice locally after many businesses cease to use hibu in the event of a wipeout. I accept that's slightly different!

More generally, hibu is predominantly a business to CONSUMER enterprise and consumers tend to be the little guys in the scheme of things. A wipeout would indeed generate terrible PR, and even if a little guy hadn't lost out personally a sense of propriety may well keep him from using hibu if there's little difference in cost to use a competitor. Perhaps I'm being almost sentimentally naive there but I really do thing the tide has turned of late and people are more responsively aware (maybe the tax avoidance antics of those coffee shop chains thwarts that!).

Cheers mate, but ceebsy's efforts have been particularly impressive. Re. today, who knows?! I've not had time to go through the buys and sells myself but I suppose it's fairly safe to presume the activity was down to an initial attempt to scare holders into selling on the back of another dodgy ST article (I still maintain the RNS was neutral). The recovery no doubt reflected the realisation that people weren't budging. On reflection, I guess that's stating the bleedin' obvious! That said, I do seem to recall some VERY small sells (we're talking pence!) registering as the latest SP and this suggests the drop was engineered quite heavily. At whose bidding was this instigated though? That's the question. Good luck and 'night all - an ultra-early one for me tonight.

No worries and GL to you too. Thanks for the link and sorry if I seemed a bit bolshy, but by way of even more context here's an extract form their FY 2012 report (posted on iii earlier today by fear no evil) "the Group’s cash flow forecasts show that in the twelve months ending 31 March 2013 interest payments will be fully met, with further cash generated to repay debt." Of course, they went on to default voluntarily! I I genuinely think they'll have some serious questions to answer if shareholders are wiped out, and if for no other reason than that I'm still optimistic that things will (eventually!) come good. That said, I wouldn't recommend investing at this particular juncture with anything other than money you can absolutely afford to lose (despite the potential upside). But then, should you ever?!.

BigSi I wouldn't advise anyone to continue doing so in such a company and I certainly haven't (continued to that is). I invested once after the MS announcement that never was, sold once and got back in the Friday before the ST article of last year claiming - no STATING - it was all over for shareholders like they had a crystal ball. The BOD did NOTHING to refute this and prevent the subsequent dive when the markets opened the following week despite the pledge by BW to protect us to...blah,blah,blah. The SP has yet to recover, of course, and I admit I'm pretty much locked in, as I suspect are many (but my break even is only just 1.something and I didn't invest too heavily when I bought back in). The reasons for continuing to hold are obvious and not so obvious. In the former case there's always the possibility of great news (YES THERE IS!) that could catapult the SP skyward, almost as obvious to anyone who's watched the saga unfold would be the strength of the legal case shareholders are planning to mount in the event of a wipeout, whilst not so obvious is the surrendering of any entitlement to recompense - I believe - that the aggrieved may have upon selling. Your post peeved me slightly because it seemed to make out that many of those down heavily here have lost through their own excessive greed and stupidity and are too immature to face up to this. Not so. It's actually Piler not Plier, by the way (not that I mind!), but I'm sure I could put the plural of that to good use on selected parts of the anatomy of certain Board members.

Sorry you lost with JJB michjacq. More specifically, I think one of the charges aside from fraud was misleading the market (perhaps not quite the same thing and very relevant here). So many seem to have knighthoods! Was actually having a chat with an ex-RBS employee not so long ago and he made the same observation in the context of Sir Michael Bibby (I have alleged NOTHING explicitly there, by the way)!

"Hibu have been warning for MONTHS!!" EXACTLY - that's the problem we have with them!! They've ONLY been saying this for months - i.e. they began doing so AFTER MP LIED about the announcement at the MS conference that never happened. I'd been sitting on the sidelines until that (public) utterance (some have stated he sounded intoxicated), and no doubt still would be had it not been made. Quite a buying signal - not? Since this, the BOD have done nothing to support the SP despite BW's assurance that they would do all they can to protect shareholders to the FULLEST extent possible and their announcements / overviews have been completely at odds with the reality the SP suggests. That's not talking big - it's just taking umbrage at big girls' blouses who haven't the balls to 'man up' and earn a living doing mannish (no offence ladies - I'm speaking figuratively) things, and instead resort to hiding behind corporate privilege (like big wusses - hopefully this language will resonate with you!).

Hear hear!

"The only difference between AH and MP is that you knew where you stood with one of them!" Pretty much the same as that between Thatcher and Blair then!

No I won't be piling in, but nor do I plan on selling right now. You say The Times and FT are always "on the nose on the facts", but if they knew it to be factual that shareholders were going to be wiped out last year then hibu have a lot of questions to answer. If not then why the hell didn't they challenge this or at least issue an RNS to refute it? The fact they did neither can hardly seen to have been acting in the interests of shareholders and is therefore in conflict with BW's publicly stated reassurances in this respect. Also, coming to the defence of hibu top brass now, might it not have been the case that they were required to surrender their shares (I think bfp hinted at this earlier)? In any event I wouldn't be too quick to dismiss the threat of legal action by shareholders - I still maintain that the announcement by MP that significant news involving Yell / hibu was going to be announced by Microsoft at their annual conference will take some explaining (and I can't see the role of hibu - along with many others - as a simple licensed broker / re-seller sating an inquiry panel somehow). We'll surely see before too long. Anyway, good luck to you too (I think!).

What news is that then? The RNS said nothing - other than things have stabilised (implicitly) - and the ST article of today is just a regurgitation of the biased and agenda-ridden garbage that was printed by the same newspaper (possibly the same journo.) last August / September. Speaking of agendas...

"There has been no material change to the operating performance of the business from the expectations previously communicated." implies revenues have stabilised, and - bearing in mind they've yet to launch any of their digital heavy artillery - I fail to see how this could be interpreted as negative. The delay - as frustrating as it is - implies nothing, as there could be positive or negative reasons for it at this stage. I'd be genuinely surprised if this RNS alone prompts people to sell.

Though as bfp notes below, there was no mention of little or no value in the last RNS a few hours ago

"thnk we will hear very soon" We'd better as it's now getting ridiculous. They're just restructuring a company for crying out loud at the end of the day, not preparing for Operation Overlord! Yes - I realise there are many lenders and I realise they're a big outfit (one of the reasons I'm still optimistic) but they need to get a grip!

Well good luck. I toyed with the idea of selling and putting in buy limit orders at a lower AND higher price - say about 0.36 and 0.51 - the latter, of course, in case we get a blisteringly good RNS first thing any time between now and the AGM / EGM and I'm away from my screen. I've been stung before with limit orders (well stop losses mostly - especially on AIM), though, and I think at this stage I'll just stay in until it's either all over (in which case see you in court BOD if we're left with nothing and things go to plan) or I'm rewarded with a couple-of-front-row-tickets-for-Fleetwood-Mac-in-LA-in-July-flying-first-class-worth's extra from this point. We'll see.

No offence mate but I reckon your canary's full of it. I mean - what colour is he and what colour is / was the book?! They all stick together. I'm still optimistic mind and wish all holders the best of luck.