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Post by westcountryfunder on Jul 13, 2014 14:43:04 GMT
This seems to be taking an inordinately long time to finalize since AC's last news on 19 June. Can AC please provide an update? I am wondering what eleventh hour information will be forthcoming which will change the proposition in some way which will raise legitimate concerns. Anyway, with summer proceeding it should at least be possible to provide us with a trading update. Without delving too deeply, my recollection is that the viability of the proposal relied heavily on satisfactory, if not improving, trading.
We are no longer losing interest, though not currently gaining much either, but I am unsure just how much I am any longer interested, if you see what I mean.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 13, 2014 14:51:02 GMT
AC gave the following answer in the Q&A on Friday to a Q asking for the same:
"A formal update on the progress of this loan will be provided by the middle of next week at the latest."
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Post by westcountryfunder on Jul 13, 2014 15:13:17 GMT
AC gave the following answer in the Q&A on Friday to a Q asking for the same: " A formal update on the progress of this loan will be provided by the middle of next week at the latest." Yeah, OK. Missed that. I expected to find such information under "Overview" rather than Q&A. Perhaps, including this forum which itself now has two parts, there are now just too many places to look!
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Jul 13, 2014 19:16:26 GMT
AC gave the following answer in the Q&A on Friday to a Q asking for the same: " A formal update on the progress of this loan will be provided by the middle of next week at the latest." Yeah, OK. Missed that. I expected to find such information under "Overview" rather than Q&A. Perhaps, including this forum which itself now has two parts, there are now just too many places to look! Indeed there are - I just happened to have gone searching shortly before you asked, so I knew it was there.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jul 14, 2014 6:58:43 GMT
I had prebids on this and two others that have lurked in the shadows for ages cluttering up my dashboard so last week I chopped 'em.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Jul 16, 2014 12:05:41 GMT
It's the middle of next week now - we were promised an update by now 'at the latest'. I have no money tied up in this, so don't necessarily care, but I find continually missed deadlines with AC one of those things that makes me not increase my investments here. Whatever walk of life you're in, if you've promised something and it turns out you can't provide it, then just give a quick comment to say so and let people know - saves a lot of ill will.
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Post by chris on Jul 16, 2014 15:28:17 GMT
It's the middle of next week now - we were promised an update by now 'at the latest'. I have no money tied up in this, so don't necessarily care, but I find continually missed deadlines with AC one of those things that makes me not increase my investments here. Whatever walk of life you're in, if you've promised something and it turns out you can't provide it, then just give a quick comment to say so and let people know - saves a lot of ill will. I've just picked this up and spoken with davidricketts1 - apparently the update has been drafted and is waiting internal sign off before we post it. Will be released to you as soon as possible, if not today then certainly tomorrow.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Jul 16, 2014 16:01:50 GMT
It's the middle of next week now - we were promised an update by now 'at the latest'. I have no money tied up in this, so don't necessarily care, but I find continually missed deadlines with AC one of those things that makes me not increase my investments here. Whatever walk of life you're in, if you've promised something and it turns out you can't provide it, then just give a quick comment to say so and let people know - saves a lot of ill will. I've just picked this up and spoken with davidricketts1 - apparently the update has been drafted and is waiting internal sign off before we post it. Will be released to you as soon as possible, if not today then certainly tomorrow. Thank you - much appreciated. Perhaps those people responsible for providing the updates just fail to take into account that time should be allowed for getting internal sign-off when they give us timescales; it's understandable (in my career as a PM it's the sort of thing I encountered daily) but still gives a slap-dash impression. They are eager to let us know they will provide things within a quick timescale to impress, but they are kidding themselves that it's possible and end up letting us down. Its not really a problem for me right now as I have other places to put my money, and I do - I'm just being grumpy for the sake of it today  . I won't be the only one who chooses to put my money elsewhere due to knowing that I'll be continually having to check things up or chase things up with AC. The places I DO put my money are quick to deal with things and slick about providing what they say they will. They don't necessarily communicate as fully as AC do, but then they don't give themselves so much need to ................ just saying.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Jul 16, 2014 20:39:44 GMT
I see the update has been added to the Q&A now. Good to see it, but it's a tad underwhelming  - if I hadn't just logged out of AC I'd be helpful and post the contents, but I have, and anyway it just says (heavily paraphrased) "not going live yet, let you know next week sometime" - so don't all rush over there in excitement. |
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Post by Ton ⓉⓞⓃ on Aug 4, 2014 13:54:40 GMT
Looks like this is off again today or tomorrow!
3rd time lucky...
IN EDIT I should perhaps say it's under 'Upcoming Invest.' at the mo.
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Post by Ton ⓉⓞⓃ on Aug 5, 2014 12:18:09 GMT
Even with last years bad weather they would not have broken the ebitda covenant of 1.5times.
AC loan payments 66k
EBITDA 120k
They seems a robust business.
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Post by whitmanthecat on Aug 5, 2014 21:19:57 GMT
Even with last years bad weather they would not have broken the ebitda covenant of 1.5times. When I first read the new reports, I saw the credit report state there was no detrimental effect of the severe weather, then saw the July update state that sales were in the region of £100m down because of the severe weather, which I would call detrimental! Of course on a second read, the first statement really means the hotel wasn't washed away. I am still a bit twitchy as with other loans where an existing lender has written off some of the the debt. This will be one of my smaller holdings, but overall I'm comfortable with the financials and I've decided to top up my existing bid.
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Post by Ton ⓉⓞⓃ on Aug 6, 2014 8:16:29 GMT
For every twitch you or anyone has, reduce your holding by 10% until you have none, twitches that is not holdings.
Stick to your limits.
I'm coming over bullish as I want someone to argue me out of position.
The things that caught my eye were that there are now 20 less full timers, there was one other thing, what was it. The other thing was the HMRC time limit looks tight; I hope all AC's ducks are in a row. I wondering if AC will end it early or perhaps all u/w's will be gently and lovingly moved aside by Lender bids...
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Post by jevans4949 on Aug 6, 2014 8:33:50 GMT
Interesting feature of pre-bid upgrade emerges which I wasn't aware of. I had a pre-bid in place for £100, and a free balance of £27.38. Pre-bid upgrade process has bid £27.38; I had assumed that it would wait until I had £100 in place. On the bidding screen(s), there are no pence shown, so my bid shows as £27 only. chris: Was this feature of the pre-bid process intended? Can you flag the issue with the bidding screens to your front-end team - or is it fixed in the new system? |
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Post by chris on Aug 6, 2014 11:34:27 GMT
Interesting feature of pre-bid upgrade emerges which I wasn't aware of. I had a pre-bid in place for £100, and a free balance of £27.38. Pre-bid upgrade process has bid £27.38; I had assumed that it would wait until I had £100 in place. On the bidding screen(s), there are no pence shown, so my bid shows as £27 only. chris: Was this feature of the pre-bid process intended? Can you flag the issue with the bidding screens to your front-end team - or is it fixed in the new system? Pre-bids have always placed as large a bid as they can, so that is working as expected. The expectation is that pre-bids signal an intent to lend and that you would want to lend as much as you can, up to the limit, at the point the loan goes live. The rounding to nearest pounds is fixed in the new system.
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. I won't be the only one who chooses to put my money elsewhere due to knowing that I'll be continually having to check things up or chase things up with AC. The places I DO put my money are quick to deal with things and slick about providing what they say they will. They don't necessarily communicate as fully as AC do, but then they don't give themselves so much need to ................ just saying.
- if I hadn't just logged out of AC I'd be helpful and post the contents, but I have, and anyway it just says (heavily paraphrased) "not going live yet, let you know next week sometime" - so don't all rush over there in excitement.
