For sheer comedy I refer you to today's Gable Holdings (GAH) Chairman’s statement which starts with the sentence - ”2015 has been a mixed year for Gable”. He is 'avin' a bubble surely?
Having failed to finalize its accounts for the year ended 31 December 2015 within the six month deadline of 30 June 2016 Gable (GAH) made the following announcement on 1 July:
On May 25 it was announced that in order to prevent a capital adequacy ( or inadequacy) issue a private company owned by the uber-greedy bastard William "£15 million will do nicely " Dewsall was to offer a £10 million guarantee to ailing AIM dog Gable (GAH). The only issue was - as we revealed here - that the vehicle in question Hogarth Underwriting Agencies - had net assets at June 2014 of £357,981. The reported profit for 2014 was just over £93,000. 2015 accounts were overdue. Problemo?
At the end of 31 December 2014, AIM dog with fleas Gable (GAH) had retained earnings (it has never declared a dividend) of £6,906,000 comprising retained earnings of £5,956,000 and a share based payments reserve of £950,000 over its circa 10 year history.
As a long term bear on Gable Holdings (GAH) yesterday's late in the day RNS of doom is a clear vindication and the shares have crashed to 6.75p. But I cannot see how the Nomad, Zeus, manged to sign off on what was said as the RNS makes claims that seem fanciful with regard to a capital injection.
The present set up at Gable Holdings illustrates the prizes and the pitfalls which can be on offer, and perhaps as well how best to get around erratic technical behaviour of a potential recovery situation.
Insurer Gable Holdings (GAH), which underwrites a range of specialist policies for the commercial sectors across the EU, has announced that it has received regulatory approval for land vehicles (other than rolling stock), goods in transit and motor vehicle liability underwriting in the UK market and “anticipates that it will commence new business in these classes during the final quarter of 2014”.
Underwriter of a range of specialist insurance policies for the commercial sectors in Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the UK, Gable Holdings (GAH) has announced a further new business agreement. We are 73% up on this share tip on our Nifty Fifty website but there is more to come.
Commissioned researcher Edison has initiated its coverage of Gable (GAH), small and fast-growing pan-European commercial non-life insurance underwriter. The bullish tone is not surprising (who pays the piper?) but the note is incredibly detailed and Gable is a class outfit and that makes it worth reading.
We tipped Gable Holdings (GAH) at a 45p offer price on our Nifty Fifty Website. They now trade at 72p-73.5p. So what next?
Specialist commercial sector insurer across Europe, Gable Holdings (GAH) announced last week that it has launched a second product in Italy – which it anticipates will deliver gross written premiums in the region of €7 million per annum with low loss ratios. Tom W and I are well ahead on this share tip on our N50 website but, at 69.25p what next?
Gable Holdings (GAH), the non-life insurance company underwriting a range of specialist policies for the commercial sectors in the UK, Denmark, France, Germany, Italy, Norway and Spain, has announced that it has raised a gross £10.7 million via a 55p per share placing as “with the additional solvency capital in place, Gable is in a strong position to benefit from a number of opportunities to grow the business”. The shares are now 62.25p & I tipped them at a 45p offer eleven months ago on The Nifty Fifty.
Gable Holdings (GAH), the insurer underwriting a range of specialist policies for the commercial sectors in the UK, Denmark, France, Germany, Italy, Norway and Spain has announced a first product in the Netherlands and a strengthened financial team to “provide a strong senior accounting executive in this period of accelerated growth of the company”. This has been a good share tip from me on my Nifty Fifty site, but what now?
Gable Holdings (GAH), the provider of a range of specialist insurance policies for the commercial sectors in the UK, France, Spain, Norway, Denmark, Germany and Italy, a week ago announced what it describes as “excellent” results for the first half of 2013. I agree as someone who tipped them at a 45p offer price on my Nifty Fifty site – they are now 63p.
