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)

maybe explain continued norges bank stake building: “A formal sale process for the business was commenced [last week], and although we have received expressions of interest there can be no certainty that an offer will be made.” H&T Group and Apollo Global Management are said to be interested in Albemarle. However, the most likely buyer is expected to be the company’s biggest shareholder, the US pawnbroker EZCorp.

been doing some digging - as at 30th june 2013 (latest report) abm has assets totalling £140.629M - no wonder norges bank are stake building and rumoured other background buyer hovering - onwards & upwards

Annual Report & Financial Statements for the year ended 30 June 2013 25
Highlights Business Review Directors’ Reports Governance  Financial Statements Company Information
as at 30 June 2013
Consolidated Statement of Financial Position
Note
2013
£’000
2012
£’000
Non-current assets
Goodwill 14 24,869 23,318
Other intangible assets 15 7,179 4,544
Property, plant and equipment 16 14,249 16,507
Total non-current assets 46,297 44,369
Current assets
Inventories 18 20,454 18,383
Trade and other receivables 19 63,763 67,382
Cash at bank and in hand 20 10,115 5,061
Derivative financial instruments 22 – 35
Total current assets 94,332 90,861
Total assets 140,629 135,230

Thats a massive leap from when I last took a look at the numbers round about October..

interesting isn't it

I stripped out intangibles and deducted liabilities to give me a value of net worth, thats where the difference is...

ok still suggests undervalued here - norges bank continued stake building, several expressions of interest - couple that with AIM being a crazy place would expect to see much more blue here - additionally there is hardly any free float around so any increase in volume and sp will just go north sharply rapidly
strange old situation

onwards and upwards - bid war ahead..............................


Albermarle & Bond in early talks with several parties

StockMarketWire.com

Albemarle & Bond Holdings said through the course of the formal sale process announced on Dec. 2 it is in preliminary talks with a number of interested parties, one of which is Better Capital.

There can be no certainty that an offer will be made as a result of the formal sale process.

At 1:53pm: (LON:ABM) Albemarle & Bond Holdings PLC share price was +2.38p at 22.38p

I hardly think we'll see a bidding war... I wonder what the pledge book is currently worth?

the pledge book looked much better than I expected

lining up for a very strong finish here - mms putting buys through on isdx to hide from l2 trades

would expect a mad rush at the bell as well but not many will be lucky due to scarcity of supply

blue open tomorrow again only cost more tomorrow atb

And when did you see the pledge book then? 9th December results the board stated that it was in decline, unless theres been a rapid increase in the price of gold I fail to see how it could have increased... SP is driven by pure acquisition speculation and nothing more, why would there be a mad rush at the bell or any scarcity of supply..

I would not want to be out of abm this weekend - seems to be moving for no reason atm

algorithmic trading right now - ii buying someone is accumulating

are norges bank buying more?


abm have multiple interested parties - would suggest it is prudent to be in abm right now before the news on takeover

gl

@£8k traded today?

bargain atm 20.3 to buy - topped up
gl

H&T is understood to be one of a number of trade and financial buyers that have formally lodged interest in buying Albemarle, which has put itself up for sale recently as it continues to keep within lending limits after lower gold prices and competition has left it nursing losses as reported.

As a further prudent measure Reading-based group Albemarle , which includes Herbert Brown jewellery and pawnbroking stores, announced recently that it had been melting down non core gold jewellery stocks to improve its cash position.

A takeover by H&T would bring together Britain's two largest pawnbrokers.

But H&T faces competition from other potential bidders, including Albemarle's biggest shareholder EZ Corp, the US pawnbroking giant, as well as New York vulture fund Apollo Global Management, according to The Sunday Times and others.

Albemarle has hired Canaccord Genuity to advise on the sale process and has been granted dispensation from the UK Takeover Panel, which means bidders do not have to be publicly identified and the typical 28-day takeover offer deadline is also waived.

Top faller this morning.

Because it's bankrupt and up for sale.,.

Its not good whatever.

8p! Used to be a good earner years ago, H&T never did make a bid.