samuelhogg
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From http://www.allnewissues.com today:
Ubet2Win: WebetULose if you sign up
Background: Taking advantage of the current mania for gaming floats is Ubet2win. The company is currently shopping around for private investors and has thrown open its books, offering equity at what it claims is a high discount to the float price. Catalyst Investment Group (CIG), the retail brokers, are selling £672,000 pounds worth of stock, which originally comes from a key stakeholder, Lunar Bright. The brokers claim that shares are being released to provide more liquidity. The tag that draws private investors in, is the 'rare opportunity to enter in on a private placing' for a gaming float. CIG has confirmed that 85% of the open offer has been taken up already, depending on the success of the fundraising, Ubet2win might place a second round of equity before the float. At the current price of 3.5p, the company is expected to be valued in region of £5 million. An AIM listing is expected to follow soon after the subscription closes on 30 June.
Operations and Business Development: Incorporated in 2001, the company was dormant until a few months ago. On 3rd June, the company acquired 8 betting pitches in the UK on six racecourses and 11 pitches in Ireland. The eight pitches or betting outlets in England are situated on the more active race courses like Ascot, Cheltenham, Goodwood, York, Aintree and Epsom. Along with its 11 Irish positions, it operates a regional office in County Armagh. The group is still in its early stages and is concentrating at the moment, on getting its business model right. A 'clicks and mortar' combination is what Ubet2win is aiming for and it has set its sights on a few targets to achieve this.
The company intends to buy a few more pitches which increases its presence in the offline betting arena. It also plans to develop along with Betfair Plc, an online gaming program which will allow users to bet on the game as it happens, apparently a first, offered only by Betfair. Ubet will place and hedge its bets through Betfair, although the company might use other betting exchanges over the year. With the popularity of poker and gambling at online casino's , the group plans to expand its activities to incorporate these activities in the hope of covering all areas of betting. Over the next 12 months, a new 'Ubet2win' branded online gaming site might be launched.
In its two months of trading till the end of December 2004, the group delivered turnover of £28,366. The management are forecasting an increase in pre-tax profits from £230,000 in December 2005 to £390,000 in December 2006.
Management: Renick Haddow, non -exec Director is the link that brings Catalyst and Ubet2win together. Haddow worked at GHW Investments before setting up Catalyst and now sits on the board of Leisure Ventures Plc and Emerging UK Investments. Catalyst has raised over £13 million for smaller quoted companies, including Ofex listed Skin Health Spa. Gerard French, CEO was responsible for selling the Irish pitches to the company and he continues to hold the bookmaker's licence both personally and on behalf of the company. Jason French and Jonathan French, both exec-directors have operated as bookmakers and will look after the Irish and UK operations respectively. Andrew Moore, currently Chairman of Catalyst New Opportunities, ex-Chairman of Zyzygy and 10 Group and director of Emerging UK Investments and Pavilion Insurance Networks sits on the board as non-exec Chairman.
Investment Conclusion: The claims on the Catalyst website can easily be contested.
'Gaming is an industry that is resilient to economic downturn' - this cannot be true as high risk investments eventually form a smaller part of the investor's portfolio once the market start showing any signs of a downturn.
'Growth in the online gaming sector is expected to continue' - one wonders how much and for how long. As long as the capital is pumped in? Which surely must be limited, once the institutions start realising the quality of their investments.
'Share prices in recent issues of gaming stocks have increased significantly' - Not entirely true, Empire Online, the second biggest in terms of valuation, closed below its placing price on its first day of trade and Party Gaming has been forced to cut its float price back.
A reader alerted us to this open offer, soon after receiving a call from one of Catalyst's sales people. We are suspicious about retail brokers palming off stock to private clients, especially for a gaming float that claims to be undervalued. Let us also not beat about the bush: we are not great fans of this management team, notably Moore and Haddow. We have grave reservations about the mania for gambling stocks and this looks to be one of the poorest offerings to date. We would strongly urge you to avoid this one.
Contact Details: Catalyst Investment Management - 0207 9295090
A prospectus can be downloaded at www.catalystinvestments.co.uk
Ubet2Win: WebetULose if you sign up
Background: Taking advantage of the current mania for gaming floats is Ubet2win. The company is currently shopping around for private investors and has thrown open its books, offering equity at what it claims is a high discount to the float price. Catalyst Investment Group (CIG), the retail brokers, are selling £672,000 pounds worth of stock, which originally comes from a key stakeholder, Lunar Bright. The brokers claim that shares are being released to provide more liquidity. The tag that draws private investors in, is the 'rare opportunity to enter in on a private placing' for a gaming float. CIG has confirmed that 85% of the open offer has been taken up already, depending on the success of the fundraising, Ubet2win might place a second round of equity before the float. At the current price of 3.5p, the company is expected to be valued in region of £5 million. An AIM listing is expected to follow soon after the subscription closes on 30 June.
Operations and Business Development: Incorporated in 2001, the company was dormant until a few months ago. On 3rd June, the company acquired 8 betting pitches in the UK on six racecourses and 11 pitches in Ireland. The eight pitches or betting outlets in England are situated on the more active race courses like Ascot, Cheltenham, Goodwood, York, Aintree and Epsom. Along with its 11 Irish positions, it operates a regional office in County Armagh. The group is still in its early stages and is concentrating at the moment, on getting its business model right. A 'clicks and mortar' combination is what Ubet2win is aiming for and it has set its sights on a few targets to achieve this.
The company intends to buy a few more pitches which increases its presence in the offline betting arena. It also plans to develop along with Betfair Plc, an online gaming program which will allow users to bet on the game as it happens, apparently a first, offered only by Betfair. Ubet will place and hedge its bets through Betfair, although the company might use other betting exchanges over the year. With the popularity of poker and gambling at online casino's , the group plans to expand its activities to incorporate these activities in the hope of covering all areas of betting. Over the next 12 months, a new 'Ubet2win' branded online gaming site might be launched.
In its two months of trading till the end of December 2004, the group delivered turnover of £28,366. The management are forecasting an increase in pre-tax profits from £230,000 in December 2005 to £390,000 in December 2006.
Management: Renick Haddow, non -exec Director is the link that brings Catalyst and Ubet2win together. Haddow worked at GHW Investments before setting up Catalyst and now sits on the board of Leisure Ventures Plc and Emerging UK Investments. Catalyst has raised over £13 million for smaller quoted companies, including Ofex listed Skin Health Spa. Gerard French, CEO was responsible for selling the Irish pitches to the company and he continues to hold the bookmaker's licence both personally and on behalf of the company. Jason French and Jonathan French, both exec-directors have operated as bookmakers and will look after the Irish and UK operations respectively. Andrew Moore, currently Chairman of Catalyst New Opportunities, ex-Chairman of Zyzygy and 10 Group and director of Emerging UK Investments and Pavilion Insurance Networks sits on the board as non-exec Chairman.
Investment Conclusion: The claims on the Catalyst website can easily be contested.
'Gaming is an industry that is resilient to economic downturn' - this cannot be true as high risk investments eventually form a smaller part of the investor's portfolio once the market start showing any signs of a downturn.
'Growth in the online gaming sector is expected to continue' - one wonders how much and for how long. As long as the capital is pumped in? Which surely must be limited, once the institutions start realising the quality of their investments.
'Share prices in recent issues of gaming stocks have increased significantly' - Not entirely true, Empire Online, the second biggest in terms of valuation, closed below its placing price on its first day of trade and Party Gaming has been forced to cut its float price back.
A reader alerted us to this open offer, soon after receiving a call from one of Catalyst's sales people. We are suspicious about retail brokers palming off stock to private clients, especially for a gaming float that claims to be undervalued. Let us also not beat about the bush: we are not great fans of this management team, notably Moore and Haddow. We have grave reservations about the mania for gambling stocks and this looks to be one of the poorest offerings to date. We would strongly urge you to avoid this one.
Contact Details: Catalyst Investment Management - 0207 9295090
A prospectus can be downloaded at www.catalystinvestments.co.uk
Nice post Inspector Hogg.
I would never buy anything my best friend reccomended to me, let alone someone ringing up out of the Blue.
As has been said. Bin it. If it was that good you wouldn't get a look in anyway!
Thay may well be registered with the FSA, but this means nothing.
I would never buy anything my best friend reccomended to me, let alone someone ringing up out of the Blue.
As has been said. Bin it. If it was that good you wouldn't get a look in anyway!
Thay may well be registered with the FSA, but this means nothing.
Airthrey Capital
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I would not touch anything being pushed by Catalyst.
Airthrey Capital
Well-known member
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- 18
Mayfly said:You may as well complete the list, AC.
How about Hoodless Brennan and Wills & Co and City XXX (Just had a senior moment and forgotten their name)! Rugger!
Cheers
Mayfly
City Equities? ...Capital Index?
