Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

ADVFN – what sort of person takes over the LSE Asylum?

By Ben Turney

29 June 2015 05:28

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This morning, ADVFN (AFN) confirmed speculation that it has entered into a heads of agreement with the directors of London South East about a possible takeover. Although this deal is still subject to “certain conditions” being met, it has piqued our interest - why would anyone wish to buy the LSE Asylum, a website noted for publishing duff reports of broker notes and for providng a platform for the countrys looniest Bulletin Board morons?

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Comments

MrMoto

29 June 2015, 05:43

It will be very interesting to see how much ADVFN would offer for LSE. They do have a Level 2 client base so some revenue there and many registered users who are worth a bit(based on Clems Investor Show talk), quite a big crossover for people who are registered on ADVFN though I imagine. Plus how many accounts are genuine?

Strategically it is a good move, it will dilute the hostile party and I assume there will be some agreement for backing. We may see a few more paper acquisitions, a good way to dilute the other hostile party away. A multi million bid for ShareProphets perhaps!!!!!!

I like Clem, a very clever guy who knows his stuff. But ADVFN has been a very poor investment over the last few years. At least if they buy LSE they will have a nice mug client base they can push Carbon investments and Rare Earth Minerals ads at, plus what a laugh it would be working as a moderator for LSE. Worth a million alone, I reckon.
wildrides

29 June 2015, 08:39

What sort of a person ?…………….one that got his hands mucky nestling up to Broken Man and Oily Chris and Sefton “lack of” Resources.

ie Russian Roulette Chambers . Put another bullet in the chamber (LSE) and shorten the odds of corporate death at the next spin .
MrMoto

25 August 2015, 07:57

Seeing more and more sparse boards on ADVFN of late. Not just the usual AIM ramped shite but across many types/sectors. Tend to check discussthemarket.com that gives a nice rolling feed from LSE/iii. A worrying trend though, as ADVFN was THE place to be for share chat. Not sure what has changed, but a worry for Clem I’m sure when he looks at BB thread numbers. However, how many are paying customers? I haven’t had paid account for a good 5 years and use site daily.

Results published yesterday for LSE, which is usually a precursor to a deal. No turnover, but not much increase in net assets either. Showing as £455k https://beta.companieshouse.gov.uk/company/06258308/filing-history