criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Jul 27, 2021 12:39:37 GMT
Would have thought pausing would cause more concern for investors.
Similar thing happened with LAR some time back.
|
|
|
Post by Badly Drawn Stickman on Jul 27, 2021 15:00:35 GMT
Would have thought pausing would cause more concern for investors. Similar thing happened with LAR some time back. Pausing may have been a poor choice of terminology, cancelling active bids and offers would probably have been adequate 'thinking space' for people trading. It would seem a little more unplanned than the tactical change made at LAR so to my thinking needs a clear explanation of the implication for the loan. ASMX can be a touch 'clunky' for cancelling bids and offers manually (no sort function or point of offer options etc) and I suspect nobody would be wanting to buy at a premium (or possibly at all) until some clarity is achieved.
|
|
nick
Member of DD Central
Posts: 1,055
Likes: 825
|
Post by nick on Jul 27, 2021 17:19:04 GMT
I don't think the resignation of a single director who had only been appointed a couple of weeks before on 1 July 2021 and only has a 5% minority shareholding is a major deal. It does raise question marks over the circumstances given he only held office for less than a month, but it unlikely to have a direct link to the company given his short tenure. This is unlike LAR where the main shareholder and key director left the business - that was far more significant.
|
|
p2pfan
Member of DD Central
Full-Time Investor
Posts: 738
Likes: 821
|
Post by p2pfan on Jul 27, 2021 21:14:20 GMT
Subsequent to the email, there was very heavy trading on ASMX on this loan.
You can see from today's candlestick that it plummeted in value.
Doesn't bode well when a Director in such a small company, as insignificant as he may be, suddenly leaves shortly after the borrower raised money via Ablrate and before the gym has even opened. Lenders naturally get jittery.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jul 27, 2021 22:45:36 GMT
'Plummeted in value'? There is £1500 being bid over 99.8% for those who think this to worrying. I know that there is not much going on, but I'm with nick in saying that this is probably trivial. And I cannot fault Ablrate here - getting significant information out to lenders ASAP but not panicking into taking any action. How would they justify touching the SM without at the same time implying that the change was more significant than the note suggests? This was not a credit event. If people leave bids and offers open then they expect that events (a note in this case) may occur and trades may be made. Nothing to see here.
|
|
GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 218
Likes: 300
|
Post by GreenZero on Jul 28, 2021 6:30:50 GMT
Whilst providing less or no information at times can be a good strategy, people can start joining dots that sometimes aren’t there which leads to them drawing their own conclusion, often wrongly.
In this instance, the admin note stated the person has been involved since day 1, CH shows him as a director since 1/7/21, around the time of the loan application.
Holding a HND in Interior Design and Sports and Business Management the loan application indicated he "designed and implemented the scheme at Gym Squared".
Now there may be good reason for a someone who has been involved from the start designing and implementing the business to be rewarded with a directorship just prior to the company’s expansion as a result of a business loan.
However, to then resign just after the loan is received due to "personal and family commitments mean he feels unable to discharge his duties" poses a question the admin note doesn’t answer for me. I also wonder if these personal and family commitments have had the same impact on his other directorships mentioned in the application or just 163?
|
|
|
Post by Badly Drawn Stickman on Jul 28, 2021 8:29:12 GMT
'Plummeted in value'? There is £1500 being bid over 99.8% for those who think this to worrying. I know that there is not much going on, but I'm with nick in saying that this is probably trivial. And I cannot fault Ablrate here - getting significant information out to lenders ASAP but not panicking into taking any action. How would they justify touching the SM without at the same time implying that the change was more significant than the note suggests? This was not a credit event. If people leave bids and offers open then they expect that events (a note in this case) may occur and trades may be made. Nothing to see here. Whilst not being in crusading mode.... I think an automatic reset of the SM to zero prior to a significant update email would be a reassuring feature rather than a loud ringing of alarm bells. This particular update unless you had memorised the loan details warranted a further investigation and time to do that was needed before deciding 'there was nothing to see here'. It is far less effort to reinstate a bid than wrestle with the current complexity of cancelling possibly a range of bids and offers. Indeed the thinly veiled hint that a certain Mr Pogba was considering getting involved could be taken as very positive news to the well informed.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jul 28, 2021 9:02:15 GMT
We are going to have to disagree. Lenders leave bids and offers out there in the expectation that events will work to their advantage. You don't have to leave bids and offers open - you can just buy and sell. If ablrate has to zero the SM each time an admin note is posted, or consider whether each admin note requires it, then the information flow will become lower. I would find it very annoying if my bids/offers were zeroed every time a directorship changes. There needs to be a very good reason for interfering with trading (which is what it is) and there would need to be criteria set and different categories of admin note. Already I find it annoying that limits on trading are placed on trading due to possible future prepayment etc.
There really is no justification, imo, for touching the SM in this case. A director has resigned. He looks like a chap who is a designer, planner, and fundraiser and he is probably now off to another project, retaining a shareholding but not wishing to retain statutory responsibility for the implementation. The chap who was to do this implementation continues, and others may be brought in who may help sales and publicity. Nothing bad to see here. Far more to see, imo, with the car loans, without a mention.
I want to see these admin notes but I don't want to see Nanny Ablrate supervising my trading, unless there is clearly a credit event or unfair exploitation. That's just my opinion, though.
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 998
Likes: 569
|
Post by dave4 on Jul 28, 2021 9:18:04 GMT
Kinda with blender on this. I buy and sell, and use the various setting on asmx. If something happens for or against then so be it. It works as it is, no need for Asmx nanny.
|
|
criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Aug 16, 2021 17:44:08 GMT
Payment missed, no message. Could mean unable to contact.
|
|
|
Post by Badly Drawn Stickman on Aug 16, 2021 18:35:13 GMT
Payment missed, no message. Could mean unable to contact. First payment being late is never a good look, but the lack of an update is sometimes a positive thing as in payment made the next day. Its life gym, but not as we know it.
|
|
|
Post by df on Aug 16, 2021 21:49:33 GMT
Payment missed, no message. Could mean unable to contact. First payment being late is never a good look, but the lack of an update is sometimes a positive thing as in payment made the next day. Its life gym, but not as we know it. We'll see what tomorrow brings. Whatever the excuse might be, having Second ranking Debenture, Equitable Charges and Personal Guarantee as a security combined with the imminent change of ownership after the loan was drawn down makes missed first repayment a legitimate concern...
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 17, 2021 7:25:32 GMT
Payment missed, no message. Could mean unable to contact. First payment being late is never a good look, but the lack of an update is sometimes a positive thing as in payment made the next day. Its life gym, but not as we know it. "Receiving sub-space Admin Note, Gym: payment delayed due to Klingons on the starboard bow."
|
|
dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 998
Likes: 569
|
Post by dave4 on Nov 5, 2021 11:23:22 GMT
#1000172 "The sequel" Monday 8th November 2021 - Loan Launch Details:
Borrower Sector: Leisure
Loan Tranche Amount: up to £300,000
Term: 48 months (12 months minimum term)
Rate: 15% - Amortising
|
|
|
Post by Badly Drawn Stickman on Nov 5, 2021 21:25:59 GMT
It seems somewhat optimistic to list any loan currently (never has 'past performance is no guarantee blah blah... ever been more relevant) maybe even more so with this particular one.
Perhaps I am wrong and it will fly off the shelf. I will be nothing more than a curious observer myself. However should ablrate decide to form a posse to hunt down the plot they seem to have lost, I would be happy to saddle up.
|
|