kermie
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Post by kermie on Feb 16, 2016 20:33:32 GMT
Not sure how much I am allowed to reveal, but there's a reasonable update from Stuart today on the Seedrs site: www.seedrs.com/post_investment/16105(For those of you with convertible investments in AC via Seedrs). Edit: this clarifies why there's been no trigger event as yet - essentially another institutional investor also invested like us via a convertible. I shall keep that institution nameless on this forum as I understand there's been a bit of hush-hush so far. But I was pleased to say I recognised the name! |
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Post by Ton ⓉⓞⓃ on Feb 16, 2016 22:23:15 GMT
I think I'm right in saying that one of the team of 'that co.' also has a connection with one of the loans, perhaps: as if they wanted to see AC at work producing a loan for their other biz, to see the procedures, competence etc.
Update 4.5.19 that loan was paid off early without incident
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mikes1531
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Post by mikes1531 on Feb 16, 2016 23:28:00 GMT
Not sure how much I am allowed to reveal, but there's a reasonable update from Stuart today on the Seedrs site: www.seedrs.com/post_investment/16105(For those of you with convertible investments in AC via Seedrs). Edit: this clarifies why there's been no trigger event as yet - essentially another institutional investor also invested like us via a convertible. I'm not convinced that the 'other institutional investor' invested like us. Yes, their investment is convertible into equity, but it's described as a "loan" which implies -- to me, anyway -- that they're being paid, or accruing, interest. We are not, and that's a very significant dfference. I wonder when we'll find out the terms of this additional investment?
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tonyr
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Post by tonyr on Feb 17, 2016 7:26:34 GMT
Not for those of us who invested directly there isn't. stuartassetzcapital I thought this was fixed and we were going to get direct emails?
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Post by chris on Feb 17, 2016 7:32:29 GMT
Not for those of us who invested directly there isn't. stuartassetzcapital I thought this was fixed and we were going to get direct emails? Stuart's actually away this week, however I've raised this internally with the hope someone else will sort in his absence.
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Post by chris on Feb 17, 2016 10:11:33 GMT
tonyr - I'm told that the update is going out via email later today to direct investors.
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ton27
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Post by ton27 on Feb 18, 2016 9:12:29 GMT
chris - it would be better if the update were distributed to all potential shareholders (not just those who invested through Seedrs
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Post by chris on Feb 18, 2016 9:27:16 GMT
chris - it would be better if the update were distributed to all potential shareholders (not just those who invested through Seedrs Forgive me if I'm being a bit thick but I don't know of any plans / way for lenders who were not part of the Seedrs round to be a potential shareholder in the future. Could you elaborate?
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ton27
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Post by ton27 on Feb 18, 2016 9:52:56 GMT
chris - Sorry if I misunderstood - I thought from previous posters that there were "direct investors". If the update is going to everyone then it is not a problem.
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Post by chris on Feb 18, 2016 9:54:22 GMT
chris - Sorry if I misunderstood - I thought from previous posters that there were "direct investors". If the update is going to everyone then it is not a problem. Those direct investors were part of the Seedrs round but invested directly via us instead of the Seedrs platform.
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Post by Jack Barlow on Jun 13, 2016 8:10:17 GMT
AC Investor Update for June 2016 e-mailed out to direct investors this morning.
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Post by Butch Cassidy on Jun 13, 2016 8:52:32 GMT
AC Investor Update for June 2016 e-mailed out to direct investors this morning. Also available on Seedrs website for those who are registered; Substantial progress report which is largely positive, shareholders can be reassured, borrowers will get attractive rates, staff have secure futures, investors can expect low rates for the foreseeable future.
"The next phase of business growth is expected to be <confidential information>,"
"We have managed to <confidential information>"
"Retail investment will remain a <confidential information>"
MLIA investors will need to give some serious thought about the viability of this form of investing as 7-9% looks to be the norm going forward, for example #166 is returning for a third time effectively rolling over his current loan but the rate will be 9% against 15% currently.
Mod Note: This info maybe confidential and as such has been removed, but should be available on the Seedrs website Ton ⓉⓞⓃ
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SteveT
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Post by SteveT on Jun 13, 2016 8:56:51 GMT
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Post by chris on Jun 13, 2016 10:04:46 GMT
I've asked for both posts to be removed as they're repeating confidential information for shareholder consumption only. However it is not at odds with what I say. Our direct margin between what the borrower pays and what the MLIA investor receives is broadly the same - up in some cases down in others. There are other ways of making margin than just that split. Mods - if / when the other posts are moved / removed can this one be included too please.
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Post by Butch Cassidy on Jun 13, 2016 11:32:32 GMT
I've asked for both posts to be removed as they're repeating confidential information for shareholder consumption only. However it is not at odds with what I say. Our direct margin between what the borrower pays and what the MLIA investor receives is broadly the same - up in some cases down in others. There are other ways of making margin than just that split. Mods - if / when the other posts are moved / removed can this one be included too please. Apologies to the Mods if anything I posted caused a problem, however I specifically chose bland, mildly positive phases that in no way contained any confidential information that could be of interest to any other party, the fact that platforms have borrower rates, margins & break even levels should not be such a surprise (the actual figures would be clearly inappropriate) If AC are not prepared to allow even a discussion of things that directly affect both investors & future shareholders is rather alarming - perhaps it should be moved to the PINK PAGES if any of the content is so sensitive. It is simply a fact that rates have plummeted & the benefit must have gone to lower borrower rates or increased AC margin or a combination of both - if that is deemed confidential then so be it, no further discussion necessary.
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