Albion Shareholder Seminar 2018

[Gostevie]

Dear Fools,

I shall be attending the Albion Capital Shareholder Seminar at the magnificent Fishmongers' Hall on 9th November - thank you Patrick, Victoria and the team. All the more so since my holdings in AAVC and KAY are now in nominee accounts so technically I am not a 'member' (by jingo how the rules on ownership need to be changed - ShareSoc is lobbying for this).

Which other Fools here are going to what is always a fascinating, sociable and enjoyable event? Hopefully we can meet up there.

Gostevie

[Indig0]

Out of interest, will details of the next Albion offering only be made available after this meeting?

I've been waiting to apply for this years allocation, however nothing seems to have been published as yet. If they are not likely to have anything available I'd rather buy another VCT sooner rather than later in order to get the 'early bird' discounts.

[oxmatt]

There was an RNS on 10 September signalling the intention to fund raise with a prospectus expected in January. Seems to be for all six in the stable.

[Indig0]

Many thanks, most appreciated. Will wait for this then.

[ali1947fish]

I hope to be there!

[timbo003]

I will definitely be going along.

On the question of the next Albion offer,it is interesting to see that all six will participate, we were told at the Albion Venture AGM in the summer that their participation would depend on whether they had sold the care homes (or not). The fact that they do seem to be participating suggests that the sale of the Care Homes may be some way off.

[Gostevie]

I will definitely be going along.

On the question of the next Albion offer,it is interesting to see that all six will participate, we were told at the Albion Venture AGM in the summer that their participation would depend on whether they had sold the care homes (or not). The fact that they do seem to be participating suggests that the sale of the Care Homes may be some way off.

That's good. I can't understand why they are so keen to sell them off anyway. If I collar Patrick or one of his team at the seminar it's a question I'll try to ask.*

Gostevie

* Assuming I haven't consumed so much wine by then that I completely forget.

[scotia]

The fact that they do seem to be participating suggests that the sale of the Care Homes may be some way off.

That's good. I can't understand why they are so keen to sell them off anyway. If I collar Patrick or one of his team at the seminar it's a question I'll try to ask.*

I wonder if it has something to do with the current rash of equity release offers where home owners are offered jam today without worrying about the consequences tomorrow - e.g. care home fees. I'm also aware that there have been a number of new care home builds in wealthy areas - which at last is putting a brake on the hefty annual fee increases. Maybe it is time to jump out of this business.

[UncleEbenezer]

Maybe it is time to jump out of this business.

It's a business that has been notoriously problematic for many years: anyone remember Southern Cross, for instance?

I can't put a date on it beyond sometime around the turn of the century, but my late mother spent some years sorting out finances for a care home that was losing vast amounts of money for its owner. She found, among other things, a senior member of staff (I think something like modern-day matron) had had her hand in the till and gone undetected for some time. Classic case of someone whose job legitimately involved access to the money just creaming off something on top (£180k was mentioned at some point). But even with those losses solved, the owner thought it too precarious and wanted out.

And isn't equity release yesterday's jam (having now for some time reached the point where the Chattering Classes have spotted problems with it)?