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APT, AFTERPAY HOLDINGS LIMITED
nipper
post Posted: Jun 15 2019, 11:21 AM
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In Reply To: mullokintyre's post @ Jun 13 2019, 11:39 AM

QUOTE
A day after consumer credit group, Afterpay Touch raised more than $300 million and the three founders sold shares worth more than $100 million to two US investment companies, the shares plunged 12% after the financial intelligence regulator, AUSTRAC revealed it believes the company had been involved in money laundering. It is the second major financial group in a year to be revealed as being caught up in an audit and investigation by Austrac – the other was the Commonwealth Bank.

It is a major blow to the credibility of Afterpay Touch which has become one of the hot stocks on the ASX this year with a low-value credit payment system for small purchases. AUSTRAC has hit the company with demands for an external audit of its compliance with anti-money laundering and counter-terrorism financing laws.

“The audit will help identify if Afterpay has developed and implemented the systems and controls it needs to ensure it complies with its obligations,” AUSTRAC chief executive officer Nicole Rose said in a statement on Thursday morning.

The notice served to Afterpay by AUSTRAC, which was released to the ASX, states the regulator has “reasonable grounds to suspect that Afterpay is a reporting entity that has contravened and/or is contravening sections 32 and 81 of the AML/CTF [anti-money-laundering and counter-terrorism financing] Act”.

“The audit will help identify if Afterpay has developed and implemented the systems and controls it needs to ensure it complies with its obligations. These laws are in place to protect businesses, the financial system and the Australian community from criminal threats,” Ms. Rose said in the statement from the regulator.

The audit will determine the extent of any compliance issues and whether further regulatory action concerning Afterpay was required, AUSTRAC said. The regulator said it was looking at potential compliance issues dating back to January 19, 2015.

Afterpay said it did not know of AUSTRAC’s decision to serve the notice until it was received on Thursday morning. Yet the risk had been “previously identified”, Afterpay said in response to the regulator’s notice.

“Beyond the update as to AUSTRAC’s issue of the notice, Afterpay does not currently have any material information which is in addition to the disclosures made in the investor presentation released to the ASX on June 11, 2019, and the risk factor regarding AML/CTF laws.” AUSTRAC said “The extent of the auditor’s examination is determined by AUSTRAC and will be at Afterpay’s expense. A preliminary audit report must be provided to AUSTRAC within 60 days.”
https://www.sharecafe.com.au/2019/06/14/aus...aundering-laws/

Afterpay’s shares plunged more than 15% to a low of $21.93 after the announcement – below what investors paid for their shares in the company’s $300 million capital raising on earlier in the week. The shares ended down 12% on the day (the biggest fall in the ASX 200) at $22.55, below the $23 a share issue price in this week’s $317 million fundraising.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Jun 13 2019, 11:39 AM
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APT drops 10% after it was revealed that AUSTRAC is peering inside to ensure it is complying with the anti money laundering laws.
Wonder if they will find anything??

Mick



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sent from my Olivetti Typewriter.
 
blacksheep
post Posted: Mar 6 2019, 09:08 PM
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Director taking advantage of higher SP - sold 150,000 shares - on market 1, 4 and 5 March 2019 - for a tad under $3 million. Still holds approx 650,574 shares. Not sure how that will be viewed tomorrow - 3B came in after market closed
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 27 2019, 01:21 PM
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In Reply To: blacksheep's post @ Feb 26 2019, 10:52 AM

Down another 2.31% currently today @ $17.73.

Notable short alert yesterday. Total short positions as at 21/2/19 = 5.33%
QUOTE
Tue 26th Feb, 2019 1,728,622 236,692,589 0.73% 6,442,900 26.83%

https://www.shortman.com.au/stock?q=APT
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 26 2019, 10:52 AM
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In Reply To: blacksheep's post @ Feb 25 2019, 10:11 AM

SP down 8.88% currently @ $18.68/share - reported a loss of $22.2m H1FY19 vs $0.7 m H1 FY18 - gap nearly closed
GROUP - KEY FINANCIAL METRICS
QUOTE
TOTAL INCOME 112.3 116.1 60.7 91%
AFTERPAY3 103.4 107.1 47.8 124%
PAY NOW 8.9 8.9 12.9 (31)%
NET TRANSACTION MARGIN4 51.6 57.1 28.0 104%
AFTERPAY 46.7 52.2 21.2 146%
PAY NOW 4.8 4.8 6.8 (28)%
EBITDA (EXCLUDING SIGNIFICANT ITEMS) 11.5 17.0 14.3 19%
INTEREST (4.9) (4.9) (2.2) 125%
EBTDA (EXCLUDING SIGNIFICANT ITEMS) 6.6 12.1 12.1 0%
LOSS FOR THE PERIOD - STATUTORY (22.2) N/A (0.7) N/A

Total short positions as at 19/2/2019 = 5.30%
https://www.shortman.com.au/stock?q=apt
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Feb 25 2019, 10:11 AM
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In Reply To: blacksheep's post @ Feb 21 2019, 07:54 PM

QUOTE
Afterpay's rise comes after a Senate inquiry recommended the sector not be placed under the onerous provisions of the Credit Act. Now Afterpay rival FlexiGroup is proposing that the buy-now-pay later (BNPL) sector set up a customer database to detect debt-laden customers as part of an industry code of practice to head off any further regulation of the booming sector. Afterpay dropped significantly last week when analysts were reminded of the upcoming report, triggering an investigation. But with the report softer than expected, now it looks like Episode Two of short sellers scrambling to cover their positions (Episode One was the banking royal commission)


SP up 14.01% currently - @ $19.61/share
Totoal short positions as at 18 Feb 2019 = 5.33%
https://www.shortman.com.au/stock?q=apt

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Feb 21 2019, 07:54 PM
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In Reply To: triage's post @ Feb 21 2019, 09:55 AM

QUOTE
Parliament is investigating whether MPs and their staff are in "contempt of the Senate" after shares in buy-now pay-later companies including Afterpay plunged following the internal circulation of a draft report.

The draft findings of an inquiry into the sector, which could recommend tougher credit regulations on the booming industry, were shared among six committee members at 7.30pm on Tuesday.

As many as 58 staff in senators' offices could also have accessed the report, which is due to be released on Friday.

https://www.smh.com.au/politics/federal/1-3...221-p50zbu.html

In the first instance perhaps they should look on the pecuniary interests register to see who has declared owning APT shares rolleyes.gif



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
triage
post Posted: Feb 21 2019, 09:55 AM
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In Reply To: blacksheep's post @ Feb 20 2019, 09:57 PM

11:15 am is pretty much the same time that bank share prices took off on the day the banking rc was released. Looks like the trading desks start their day at 11:00.



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog

Said 'Thanks' for this post: blacksheep  
 
balance
post Posted: Feb 21 2019, 09:48 AM
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In Reply To: blacksheep's post @ Feb 20 2019, 09:57 PM

Breaking news...James Shipton, head of ASIC last seen in Aldi looking for fresh lettuce leaves for the impending floggings.



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Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

Said 'Thanks' for this post: blacksheep  
 
blacksheep
post Posted: Feb 20 2019, 09:57 PM
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In Reply To: blacksheep's post @ Feb 20 2019, 06:54 PM

Leak anyone? Article appearing in SMH

ASIC to examine Afterpay share plunge
QUOTE
The Australian Securities and Investments Commission has begun inquiries into the sharp share price drops of Afterpay, Zip pay and FlexiGroup on Wednesday morning, a day before a Senate inquiry into the buy-now-pay later sector is due to hand down its final report.

Committee chair Jane Hume said a draft report was circulated to Senators involved in the committee at 7:30pm on Tuesday night.

Shares fell in the financial services providers an hour after the market opened on Wednesday, with Afterpay falling by 11 per cent in 25 minutes between 11:15am and 11:40am.

https://www.smh.com.au/politics/federal/asi...220-p50z5x.html



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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