Premier Bet

[arcadia00]

Trading in the shares have now been suspended. The £400k loan promised to them on the 15th Aug has fallen through.




Update on Financial Position

It has become evident to the Company that the £400,000 of interim funding ('Interim Funding') to be provided by General Capital Venture Finance Limited ('GCVF') that was announced on 15 August 2007 will not be received as originally expected. The Interim Funding is required by the Company to meet its near term working capital requirements and without it the Company's financial position has become uncertain. As a result of this, the Company this morning sought to have the ordinary shares in the Company suspended from trading on AIM pending clarity of its financial position.

The Company are making every effort to resolve this issue and are in continued discussions with GCVF and another potential funder. The Company will make further announcements as and when appropriate.

[woo]

my first post.

i bet for a living and have a few contacts.

of the 5 people i know owed money 2 have been paid. i was told they were dealing with things alphabetically - this may be tosh.

however the two that have been paid are the earliest in the alphabet with the latest starting with m.

i'm not certain what is going on but my best guess is they have the cash to pay up but will not eventually survive the bad publicity.

i can only believe that the venture capitalists have an insufficient grasp of bookmaking

[woo]

Originally Posted by woo

my first post.

i bet for a living and have a few contacts.

of the 5 people i know owed money 2 have been paid. i was told they were dealing with things alphabetically - this may be tosh.

however the two that have been paid are the earliest in the alphabet with the latest starting with m.

i'm not certain what is going on but my best guess is they have the cash to pay up but will not eventually survive the bad publicity.

i can only believe that the venture capitalists have an insufficient grasp of bookmaking

oh dear looks like i didn't read the above thread properly and the company has likely had it then. the best hope is either a clueless investor or more likely a takeover as the core football betting was profitable.

andy

[legodsboots]

Site been offline all day so far. Have they finally 'croaked'

[pele99]

Yep looks like they've gone. Heathorns has stopped taking bets, the Executive VP and non-executive director of IGH have resigned, as has the Nominated Advisor.

Looks like failing to get that extra 400k has been the last straw. The only hope appears to be a takeover, but that seems unlikely. Lord only knows what their debts are.

Im owed alot of money and have been waiting a month now since I made the withdrawal. Am extremely annoyed but there's a lesson I think: only bet with the established names like lads and wills. I used to trust anyone who was on oddschecker as they all seemed legit but this has made me rethink.

Any lawyers out there know what the best chance of getting the money is?

[munki]

Might be a hance of gettng some cash based on the following piece on the Racing Post website

"Heathorns has been trading since 1890, and there is speculation within the industry a number of credit firms could be interested in a rescue package for the company, along with the name, should IGH be unable to find new financing."

It surely amounts to fraud when companies continue to accept deposits and take bets in the full knowledge that they will be unable to pay clients out should their bets be successful.

[munki]

Premierbet' site is back online , don't know if that is good , bad or doesn't change things at all ?

[Mr Bond]

Disgracefull that they are mostly offering long term markets. A obvious attempt to get money in to cover running cost and debts that they already owe to others.

[pele99]

Some potentially good news finally: the Finanical Sunday Express reports that General Capital are looking to loan IGH £2m to keep it afloat, after "tense negotiations" (yeah Ill bet they were!).

Hopefully 2 mill will be enough to pay out all their punters now!

[The Saint]

Anyone got anything definitive in thsi one as yet...

I made a withdrawl weeks ago - can't get through on phone or even via e-mail....

I fear the worst.

This really is poor. If they hadn't been on Oddschecker I would never have used them to be honest. Awful.

[Paul Ross]

I can't confirm anything, but word on the grapevine is they're history.

[davidc]

Any more news on Premierbet?

Their site has been down for a few days now and unfortunately I didn't spot this thread until today and thought they were either upgrading or had a DNS attack problem.

Not sure exactly how much I had with them but it was more than I would care to lose.

[Norfolk Enchance]

Hi david

I recommend you have a look at a thread in the 'general betting' section of the betfair forum - "are pbet still taking bets?"

There's a few people there still owed money by premierbet who are trying to get it back and stop Heathorns from getting a license.

[davidc]

Hi Norfolk Enhance - thanks for the info. I have had a read at the Betfair forum and it doesn't look too good. Thimk I'll have a look at the bookies that I currently use and try to weed out the dodgy ones!

[Gman]

Should I be concerned that these jokers have my bank details?

[JJGG43]

Guys .... I Have de same problem but with SoApostas.com . Six Months and nothing about my money 2.500£. It's very, very hard... !!!!

Good luck to all .....

[R Hills is God]

There's a new website campaigning on behalf of Premierbet punters

http://premierbet.moonfruit.com/

Visit it then vote for it in the netprophet awards.

[JB1979]

Seems to have some developments, just received this email in spam folder
from www.Jenningsbet.com

As you may have seen recently in the national press, JenningsBet have acquired from the Administrators of IGH plc, certain assets including the account details of all those Premierbet customers who were owed money when the company ceased trading in July 2007. Our records, that have been passed over by the Administrator, show that your account was in credit at that time.

As a gesture of goodwill, JenningsBet have decided to refund all those accounts, including yours, the full amount up to a maximum of £200.00. In order to claim your refund, go to www.jenningsbet.com and click on the Premierbet refund image.

Regards,

JenningsBet

Please note that this is a no reply email. All enquiries must follow the instructions given on the Jenningsbet site.

[munki]

Jenningsbet have now informed me that according to the information they received from the administrators my account didn't have any cash in it which is not true.There wasn't much in it (£25) but it is bloody annoying more from a point of principle than anything else

[mcgin]

Didn't receive this email as I consigned all my premierbet emails to the trash without ever opening them. Will have to check out Jenningsbet tonight when I get home, hopefully get my few quid back!