Investment through Ablrate involves lending to companies and therefore your capital is at risk and interest/capital payments are not guaranteed if the borrower defaults. The statements made on this forum are provided for information only, are not intended as a financial promotion
Yes, the sedol number was issued Dec and founding director resigned this week. Will be good to see this one float or updates from them in the next month or so.Not too worried as repayments made on time.
There is part of me that thinks Coronavirus, but realistically things have only ramped up in the UK over the last week.
If you look at the companies under the V****n Umbrella. M* O***** seems to be the most successful, they manufacture staircases, so not an industry that would have been immediately impacted. T*** I can never make sense of, is it in administration or not? One other company makes shoe tacks, again not a business that would immediately be impacted such as the hospitality industry. O*ca makes Fire doors. There is another company, E**** L*** that they seem to be in the process of buying. The founding Director resigned last week. They had an unexpected corporation tax bill in August last year connected to T***. The founding director had a well publicised court case for fraud in December but was thrown out of court. Make of this what you will. There is the flotation that was supposed to happen in August but has persistently been moved back. If we ask for an update we are told they will not give a 'running commentary'. I doubt that they would make a successful flotation anyway based on the V****n group of companies, a particular Director's track record coupled with the Coronavirus epidemic and the market volatility that will coincide with Brexit. I've had my doubts about this one for a while and I think that Corona has been a gift from God for them to default on this months payment. I'm certainly not holding my breath. But then I am pessimistic my nature.