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)

What a disaster this is.

it is indeed..................

Monday 02 December 2013
Four directors have resigned from the board of pawnbroker Albemarle & Bond as the company teeters on the brink of collapse.


The non-executives, Robin Ashton, Tracey Graham, Sterling Brinkley and Tom Roberts, would only cite “personal issues” for leaving the company, according to sources at Albemarle.

Relations between Albemarle and EZCORP have been frayed recently when the shareholder refused to back a £35 million rights issue, which led to frantic negotiations with lenders to avoid administration.

The latest fallout at the company comes a week after bosses admitted they had started melting down and selling its own gold stocks in order to boost the books and avoid breaching strict covenants with its lenders.

The City is still waiting for the company to publish its full year results, which were due in October but have since been delayed as a major restructuring takes place including the closure of all but two of its pop-up stores and ending new payday loans.

If the result are delayed by more than six months the shares will be suspended.

None of the directors could be reached for comment.

< 12.5p perhaps tomorrow?

previous low........

The company came close to breaking lending agreements with its banks in October and was forced to delay announcing its annual results. The smelting spree was revealed in a gloomy trading update warning that its plight was worse than investors believed.

The shares slumped on the news, closing down 33.5%, or 12.5p, at 24.75p, compared with a 52-week high of 240p

interesting to see how this will react today - gla
head for the exits or???????????????

Barge poles spring to mind!

it does skinny - see the bad article for abm in the daily mail this morning - that wont help at all....................

Stay well clear this could get nasty.

could do mitzy - but I notice lots of risk takers appear to be coming in buying now and the naughty mms are hiding buys on isdx so they wont show up on the normal l2 platforms -what are those mms like lol!!

gl

looks like a broker buy rating??????

3 Dec N+1 Singer N/A Buy

didn't expect that

please ignore that N+1 Singer buy rating post from me - I took that from moneyam front page but cant find anywhere that confirms it

There you go.

03 Dec 13 Albemarle & Bond... N+1 Singer Buy 14.75 - - Under Review

Every chance this will go sub 10p imo.

Lets hope they dont bank with RBS otherwise GRG will be rubbing their hands together..

For anyone still in :- Final Results

because of todays rns - expect a blue day here amazingly!


Agreement of a deferral of the Company's bank facility covenant testing dates until 3 February 2014 with its lending banks

expressions of interest#et al

moving fast now

gla

well against the odds abm is bouncing hard since the last rns - apparently the confidence is because of Norges Bank taking a serious position and adding because they see real value here and also the reduction of the cfd - so plenty buyers right now value abm much higher!!
available shares appear to be very short with only 55M in issue total but many of those unavailable!
strange world we live in - probably end the day VERY BLUE

atb

btw keep an eye on isdx trades - lots of abm buys hidden by mms outside of l2 on isdx :-0

onwards and upwards - close of business 25 to 30p today?
very strong algorithmic trending north and few shares available
norges bank accumulating apparently