eagle51
08 Feb 2016
Re: Today's RNS Don't get me wrong - the thing to concentrate on is still the $14.2m performance fee paid before the big antitrust case hit the fan. That it was going to hit the fan was known by many a long time ahead of when you were told how surprised the directors were about this strange ruling by a US judge. Their (unidentified) 'experts' found it all very odd.Really?What fun we're having.
eagle51
08 Feb 2016
Re: Today's RNS "The Investment Manager will continue to manage the Company's portfolio. Its entire team remains in place and the Investment Manager continues to deploy capital for a multi-billion dollar pension client under a private mandate".....................I would be very surprised if "the entire team" remains in place, if he means that no-one who's ever worked in Fields's two management companies (JCML & JAML) still remains there today. There may be "an entire team" (what does 'entire' mean?) but my guess is that new recruits have been made who don't know the history.As for the "multi-billion dollar pension client under a private mandate" all I can say is that whoever appointed Fields to look after it must be one brick short of a load - or the money is of questionable status. I am only speculating. I think it would be a valid question to ask Brennan: "where is the source of this money and what is the residence and tax status of the beneficial owner/s"?Reference the 'fixed management fee', to say "the Directors believe that the requirement to table a winding-up proposal is unnecessary and potentially costly to the Company" is in my view patent nonsense. It still costs millions (and will continue to cost millions) to run this shambles where (again in my view) not a single thing the directors tell you is to be trusted. The entire portfolio should be disposed of to the highest bidder for the buyer to work through to completion. Fields has covered that possibility by fixing a fee of however many million for whole years. regardless of whether the portfolio sells part way through the year. That's how I read it anyway.Someone write and ask Brennan whether he's happy the value of IPCreate is as stated in the accounts. And at the same time ask him why he approved the change of manager from JCML to JAML when he's only the previous year increased JIL's holding in it to 36%? This cost shareholders in JIL millions because JIL doesn't own any part of JAML and receives no dividends from it - Fields gets the lot. It isn't covered by the reduction in rate of management fees paid either, so don't try that one.Is Pentonville still open?
eagle51
08 Feb 2016
Today's RNS You can bet your bottom dollar these new arrangements are designed to ensure there is as little reduction in the volume of your money (given whatever's planned next) going into the pockets of these (imo) disingenuous people. I could have used stronger language but you get the point. It was kind of the auditors to agree to reduce their annual fees to £100,000 (maybe they'll make up for the 'loss' with a few add-ons?). Given what (imo) they've missed that's been staring them in the face for so long they should be paying the shareholders they're supposed to represent. The horse has now bolted however; the money's gone. Regardless, half what's now agreed would be too much to charge for the audit of a company this size. The US owned law firm and the secretarial outfit in Guernsey will no doubt keep banging the bills in. What have the non-execs been charging $125k a year for, just for expenses? Maybe they have their meetings in the Ritz (or maybe the George V in Paris - accompanied by their carers of course) and stay on a few days to recover from the stress? But it would have to be a few times a year to explain the amounts involved. "Use of home as office" maybe? Do non-execs have chauffeurs? Do any of them know the Speaker?Some might say (not me) that entrusting your money to the people in this company is about as sensible as would have been entrusting the well-being of your 14 year old daughter to Fred & Rosemary West.They haven't yet got away with it. It's taking time, but it's far from over. Given the following, some might say that what's been allowed to go on here is hypocrisy on the grandest scale - might even be worse than the behaviour exhibited (out of sight of the cameras) by someone who might better be able to explain the disappearance of your money. I have heard it said by some that that turning a blind eye to something one knows is reprehensible (for the money) makes one just as guilty. I couldn't possible comment. [link] must be interesting."I'm a good man, your honour"...................
eagle51
05 Feb 2016
Re: Who's Buying? "Rec in the investors chronicle as a "bargain"...............................they don't know the half of it
menfrommoyse
05 Feb 2016
Re: Who's Buying? Nope. Rec in the investors chronicle as a "bargain".
SonOfBuffett
05 Feb 2016
Who's Buying? Someone presumably expects the payouts to be larger than 44p per share. Forthcoming announcement?
eagle51
03 Feb 2016
Re: doomed? correction................................The company is (finished) - but this isn't finished
eagle51
03 Feb 2016
Re: doomed? fabrav - I had a look back at one or two of your previous posts about JIL. In one of them (Sept 2014) you commented: "Each victory is money to the shareholder".Unfortunately, shareholders weren't the ones this company was set up to reward. This isn't finished yet. The company, is but this isn't finished.
fabrav
02 Feb 2016
doomed? As Jonesy in Dad's Army would ask, are we doomed Mr Mainwairing?
weblogic
16 Jan 2016
Re: Weather..and other matters Thanks for your response Eagle..Trust you are keeping well
eagle51
15 Jan 2016
Re: Weather..and other matters "Secondly...you said that you don't like what has gone on here..?I presume you are referring to WTG when you said that?"No. Here means here. IE Juridica
eagle51
15 Jan 2016
Re: Weather..and other matters ....................."I'm not posting for a while (anywhere)"
weblogic
14 Jan 2016
Re: Weather..and other matters Hi Eagle..Could you please clarify a couple of points re your post..Firstly, when you said that `The update will tell us more`... which update are you referring to..?And when is it expected, do you know..?Secondly...you said that you don't like what has gone on here..?I presume you are referring to WTG when you said that?Am I right in thinking that your concern is about the way that 10 - 1 share consolidation kicked in to knock out investor share holdings, which left many investors confused..with tiny holdings?I note that WTG has now been split into 4 operating units...I`m presuming they intend to dispose of the non core aspects and hopefully return more cash? Do you see it that way?Your comments would be appreciated...best regards..
weblogic
11 Jan 2016
Re: Weather..and other matters PS.. I suspect you have a fair grasp of WTG accounts and current finances, as far as these can be ascertained...certainly better than mine.Would you see WTGs way forward via M&A activity or do you reckon they could operate as an independent entity, and grow there business with the cash funds they now have?Telematics does seem the best opportunity going forward, so, provided the market growth materialises, that area looks the best bet for M&A deals to establish a strong business, I believe.Any thoughts on potential tie-ups.Some news in coming weeks to clarify matters would certainly be welcome.I guess they will be updating the market again by March with latest figures and projections.
weblogic
10 Jan 2016
Re: Weather..and other matters Hi Eagle..Thanks for your comments..You`re right to mention `risk` in these current markets..As for WTG, I`m hoping they can forge some strong alliances and maybe do some significant M&A activity. And hopefully there markets will show growth, particularly in the Telematics areas.I cant see how such a small player as WTG can really go it alone in these markets, so we`ll await news, and I`m sure the markets will be watching closely.They have had time to assess there position, and no doubt have got some `hopefully` good leads to work on..With good reputation in the board room, lets hope too that the street cred can start to pick up..I can see how you are not happy about recent handling of things..The court action combined with that 10 - 1 consolidation has left holders with tiny positions, and probably rather confused about `value`.On the face of it, at current prices they probably look good value...GL
