I've been wading through company reports recently (still am..) to
further research companies I thought looked interesting. One of
those companies was AIM listed Albemarle & Bond (ABM)

During reading I found a potentially interesting piece of information
that I wish to pass on to anyone who may be interested.
This information is taken from the company report and accounts 2003,
but is written in my own words.

There appears to be a 28.93% share holding in the company by EZCorp.
International Inc.- this is the largest share holding listed. Further
there appears to be two members of EZCorp on the board of Albermarle.
The lastest addition being Philip Cohen who is(chairman of Morgan
Schiff & Co)and the controlling shareholder of EZ Corp.

I'm not offering any personal appraisal of whether the above is a
good or bad or indifferent matter to potential share-holders.
But I do think it is something a potential investor may wish to
research further. ABM's company report is available via the free
service (FT)

I've had a small dabble @24.5p

+21.5% today

33.25 currently Skinny, thats gives you a 35% gain.

Unfortunately only 'a punt'. But thanks for the heads up.

I'm out @39.15

I'm going to hold, have a little more faith in the companies pledge book. Have a good weekend.

Yes and you.

Appointment of Chief Executive Officer and CRO

Albemarle & Bond Holdings PLC, the specialist retail financial services provider, is pleased to provide an update to the announcement made on 30 September 2013 with respect to the appointment of Chris Gillespie as the new Chief Executive Officer.

Chris Gillespie will now join the Board as the Company's new Chief Executive Officer on 7 October 2013 instead of the previously planned date of 18 October 2013 and Greville Nicholls will simultaneously revert to his former role of Non-Executive Chairman.

The Company is also pleased to announce the appointment of Colin Whipp as Chief Restructuring Officer and Executive Board Director from 7 October 2013.

Colin is an experienced turnaround executive who has worked in public and private companies in the UK and Ireland. A Chartered Accountant and a Fellow of the Institute for Turnaround, Colin has extensive wide experience in consumer facing companies in delivering improved financial change and results. Prior to this in his early career, he qualified with BDO Stoy Hayward, and then worked for Procter & Gamble UK. This was then followed by financial and commercial roles with Scholl Plc, BacardiMartini Inc. and Bertelsmann UK.

Greville Nicholls commented:

"In the current environment, Chris' experience and leadership will be very valuable to the business. The acceleration of his appointment to the CEO role from the previously planned date is in recognition of his energy and enthusiasm to take up the role and the Board's confidence in the difference he can make to the Company. We also welcome Colin on his appointment and I am sure that he will be of great assistance to Chris in his new role."

Save as set out in this announcement and the appendix below, there are no further disclosures required under Rule 17 Schedule 2 (g) of the AIM Rules.

Just bought in again @35.09

Whats your target Skinny?

To be honest, I closed for +4.5 and am looking to buy it again.

You know more about the company - what is your view - taking into account this morning's RNS?

.

Current market cap is £19.435m @ 35p a share. 30th June 2012 accounts show a Net Worth excluding intangible fixed assets of £52,429 which supports a 94p share price against valuation. RNS 5037P 02/10/2013 stated that "As at 30 September 2013, net indebtedness was circa £51 million." This reduces 2012 Net Worth by around £7m (£51m now-£44m then). So if Net worth is around £43m the supportive sp would be 77p. I've not allowed for any asset valuation decrease, the world of commonsense tells you that just because an item of gold may have a scrap value at the time of writing a loan you wouldn't porn it for 100% of its current worth but maybe discounted at 60-70%. At the same time the price of gold has fallen by a third so at the worst this will be the fall in the company pledge book if nobody returns to repurchase their assets on porn, 77p less a third is 51p worst case and my initial target. I would expect though we'd be looking at around 63p+ though as you never get the market value for an items when porning it. As for the directors coming in I know nothing about them, this business isn't rosket science and from what I've read loss making pop-ups have already been shut down.

Thanks Shortie -I've had another dabble @36.59.

"....assets on porn..."!!! I will have to have a root around in the loft. I'm sure I've got a few old 'assets' lying around from my teenage years! ;o)

Harry - that was my main reason for 'going in again' :-)

Have to say I giggled when writing it... Sorry about all the spelling mistakes, I wrote the post in a hurry..

+12% to 42p..

Out of auction +26.7%.

hic!